Hydrogenics Company Presentation

Dr. Bernd Pitschak

Hydrogenics GmbH March, 2016

2

Company Overview

Hydrogenics in Brief

• Global provider of hydrogen fuel cells and water electrolysis products

and services

• Incorporated in 1995 [NASDAQ: HYGS; TSX: HYG]

• 170 full-time employees

• Headquartered in Canada with European facilities in Belgium and

Germany. Branches in Jakarta, Kuala Lumpur, Seoul, California,

Moscow, …

• > 150 patents and patent applications

• More than 2,000 products deployed in 100 countries worldwide

• Manufacturing facilities are ISO 9001 certified

• Over 70 years of electrolysis leadership

Onsite Generation Water Electrolyzers

Power Systems Fuel Cells

H20 H2

02 e-

02 e-

Zero-emission Hydrogen Technology

Onsite Generation Water Electrolyzers

Industrial Hydrogen Hydrogen Fueling

Power Systems Power Modules

Stationary Power Mobility Power

Energy Storage Load Control, Smart Grid and Power to Gas

Lines of Business

5

ELECTROLYZERS FUEL CELLS

6

Fuel Cells

Confidential – Do not duplicate or distribute without written permission from Hydrogenics Corporation

Product Philosophy: Simple and Modular

Notebook PC, with PC-CAN

Bus interface and

“HyPMView” software

S S FCVM

SCU

FLT BLR

PMP

PRV

STACK Air

H2

HyPM™ Boundary

Overall System/

Vehicle Controller

CAN (Controller Area Network) Bus

+ ―

coolant

H2+H2O

Air+H2O

coolant

Power Converter, User

Load or Load Box

Electrical DC Power Out

Exhaust

Hydrogenics HyPM™ Systems are ready to run

The HyPM™ Gen 2.0 “Next Gen” Line-up

Stationary

HyPM™ XR 2.5-200 XR 5 XR 8 XR 12 XRL 8 XRL 12

Continuous Power [kW] 2.5 5.5 8.5 12.5 8.5 12.5

Mobility

Technical Data HD 5 HD 8 HD 10-200 HD 12 HD 16 HD 30

Continuous Power [kW] 5 8.5 10 12.5 16.5 33

HyPM™ Celerity* HD 90 HD 120 HD 150 HD 180

Continuous Power [kW] 60 99 132 165 198

Packages Coming

Soon…

Stationary Power Line-up

Modules

HyPM™ Gen 2.x XR 3-200 XR 5 XR 8 XRL 12 XRL 30

Continuous Power [kW] 3.0 5.5 8.5 12.5 33

HyPM™-R HyPM™-R5 HyPM™-R30 HyPM™-

R100

HyPM™-R

1MW

Continuous Power [kW] 5, 10

(8, 16)

10, 20, 30 25, 50, 75,

100

100 …

1000+

Systems

a) Secondary cooling loop (radiator, dry cooler, chiller or cooling tower) excluded

b) Includes inverters for 50 Hz Alternating Current

Hydrogenics HyPM Fuel Cell Advantages

The HyPM Fuel Cell -all integrated

and ready to run- offering advanced

Technology:

• No humidification

• Frost-proof

• Cold start capability

• Unlimited Start-Stop cycles

• Balance of plant integrated

• Designed to deliver > 15.000 hours lifetime

Offering: Engineering, Design, Development, Building to Complete Solutions

12

Mobile Certifications in Europe In-house certification, testing and homologation of the

entire vehicle

Including Pressure Equipment Directive, Electro-Magnetic Conformity and all applicable directives

13

DE, ES, IT

Experience in Complex Product Development

DLR (Deutsches Zentrum für Luft-und Raumfahrt) – German Aerospace Center

Challenge • High Efficiency

• Mass & Performance Targets

• Variation of oxygen content

Opportunities • First Transatlantic flight

• Delivering critical Apps

• Technology transfer

Strengths • Direct hybridization experience

• Leading product technology

• Extensive product validation

Antares H3 – Hydrogenics to develop fuel cell system for next generation of fuel cell-powered aircraft

Aerovironment – World Leader in UAVs Helios – high altitude long-duration remote-control airplane

Challenges • Fuel Consumption Targets

• Low oxygen concentration

• Mass and volume

Opportunities • Mission critical Apps, UAVs

• System Integration & Consulting

• Solutions for high power systems

Strengths • Leading product technology

• Strong domain expertise

• Deep subject matter expertise

Airbus, DLR – Leading Aircraft Manufacturer Multi-function APU for RAT replacement, fuel cell powered electric nose wheel for commercial aircraft

Challenges • RTCA DO 160E Vibration Test

• Variation of oxygen content

• Rapid start, dynamic loads

Strengths • Leading product technology

• Strong domain expertise

• Strong product validation

Opportunities • Delivering commercial Apps

• System Integration & Consulting

• Technology transfer

CSA – Canadian Space Agency Hydrogenics picked to supply next generation fuel cell power system for Lunar Rover to be built in Canada

Challenges • Hydrogen-Oxygen

• Extreme Environmental

• Critical Mass Targets

Strengths • Leading product technology

• Direct hybridization experience

• Deep subject matter expertise

Opportunities • Technology transfer

• Platform for advanced development

• Hydrogen-Oxygen Generation

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14 Confidential – Do not duplicate or distribute without written permission from Hydrogenics Corporation

Hydrogenics HyPM™ Systems in various applications

Confidential – Do not duplicate or distribute without written permission from Hydrogenics Corporation

16

Electrolysis

Confidential – Do not duplicate or distribute without written permission from Hydrogenics Corporation

Industrial Customer Base in different Applications

Glass and Steel Industry

Semi-conductor, Power Plants and Food Industry

Confidential – Do not duplicate or distribute without written permission from Hydrogenics Corporation

18

‘ALL IN’ OUTDOOR

Confidential – Do not duplicate or distribute without written permission from Hydrogenics Corporation

Customer Installations

20

South Africa: Chemical Russia: Glass

Argentina: H2 from Wind China: Gas

India: Metallurgy

Russia: Metal

Fueling Station (examples)

290

BRÜGG - POSTAUTO

Linde Aberdeen

Vattenfall Linde Hamburg Air Liquide Oslo

Linde Bozen Air Liquide Brügg, Schweiz

22

Energy Storage, Grid Balancing and

Power to Gas

P2G Projects

Customer: Newfoundland and Labrador Hydro (NLH) Customer: Hychico Customer: Gas natural SDG

Customer: BC Hydro, HARP

Confidential – Do not duplicate or distribute without written permission from Hydrogenics Corporation

Customer: EON Falkenhagen Customer: EON Hamburg -Reitbrook

CHIC

Coming

Soon…

P2G Werder/ Kessin/

Altentreptow, DE

P2G Falkenhagen, DE

HRS+ESS Hamburg. DE

ESS+HRS Stuttgart, DE

P2G Stuttgart, DE HRS Bolzano/Bozen

IT

HRS Istanbul, TR HRS Brügg, Aargau, CH HRS Porto, PT HRS Barcelona, ES

ESS Sotovento ES

HRS Aberdeen, UK

HRS Dunkirk, FR

HRS Stockholm, SE HythaneRS Malmø HRS Oslo, NO

Coming

Soon…

HRS Swindon, UK

HRS Amsterdam, NL

HRS Halle, BE

HRS Port Talbot, UK

ESS+HRS Herten, DE

HRS Barth, DE

CUTE

P2G

P2G BioCat Project, DK

HRS San Remo, IT

Coming

Soon…

Coming

Soon… Coming

Soon…

High

V.LO

City

P2G 1MW Reitbrook

Coming

Soon…