Ballard Power Systems Inc

###### Managing ESG Governance

The Board of Directors has established four standing committees, who each play a vital role in supporting the Board with its oversight responsibilities. The four standing committees include:

- Audit Committee (AC)

- Commercial Committee (CC)

- People and Compensation Committee (PCC), and

- Sustainability and Governance Committee (SGC)

Each committee prepares in-depth discussions and recommendations within their respective mandates and actively integrates ESG considerations into their work, ensuring a comprehensive and forward-thinking approach to governance.

The Board has delegated responsibility for overseeing ESG issues, policies, public policy matters, ESG performance and ESG disclosures to the SGC. In 2022 and 2023, the SGC oversaw key ESG approvals including our Carbon Neutral by 2030 Plan, annual ESG reports, and participated in sessions reviewing the potential impact of new international ESG reporting standards.

Our executive team is responsible for implementing and managing ESG initiatives globally. The CPO spearheads Ballard's ESG strategy, including diversity, equity, and inclusion. They oversee external ESG disclosures, internal reporting on performance, trends, risks, and opportunities, and liaise with the SGC.

The ESG Council of Champions is composed of key leaders from relevant departments across the business. The council facilitates ESG strategy and implementation across business functions supporting achievement of ESG goals and objectives.

The Board's Sustainability and Governance Committee ("S&G Committee") is responsible for overseeing our environmental, social, and governance performance, including the policies and practices related to ESG. Composed of independent directors, the S&G Committee receives regular updates from management on ESG activities and shares relevant information with the Board regularly. In 2024, the S&G Committee was focused on navigating the evolving ESG regulatory landscape, with particular attention to understanding emerging reporting standards, new anti-greenwashing and modern slavery legislation in Canada, and assessing other potential regulatory impacts.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Launched stakeholder engaged materiality assessment in late 2021 used to ensure alignment with our stakeholders on our priority ESG areas and climate change strategy.

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]Launched stakeholder engaged materiality assessment in late 2021 used to ensure alignment with our stakeholders on our priority ESG areas and climate change strategy.