EQUITY DISTRIBUTION AGREEMENTEquity Distribution Agreement • March 10th, 2020 • Ballard Power Systems Inc. • Electrical industrial apparatus • New York
Ballard Power Systems Inc., a British Columbia corporation (the “Company”), confirms its agreement (this “Agreement”) with BMO Capital Markets Corp., a Delaware corporation (“BMOCM”), CIBC World Markets Corp., a Delaware corporation (“CIBC”), Cormark Securities Inc., an Ontario corporation (“Cormark”), TD Securities (USA) LLC, a Delaware limited liability company (“TD”, and, together with BMOCM, CIBC and Cormark, the “Agents”), with respect to the issuance and sale from time to time by the Company of the Company’s common shares, without par value (the “Common Shares”, and any Common Shares sold pursuant to the terms of this Agreement are referred to herein as “Shares”), having an aggregate offering price of up to US$75,000,000 (the “Maximum Amount”) through or to BMOCM, as sales agent or principal, on the terms and subject to the conditions set forth in this Agreement.
