Ballard Closes US$402.5 Million Bought Deal Offering of Common Shares

VANCOUVER, BC, Nov. 27, 2020 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced the closing of the previously announced bought deal offering of 20,909,300 common shares of the Company (the "Common Shares") at a price of US$19.25 per Common Share (the "Offering Price") for gross proceeds of US$402,504,025 (the "Offering"), and which includes the exercise in full by the underwriters of their over-allotment option to purchase up to an additional 2,727,300 Common Shares at the Offering Price.

Ballard Power Systems Logo (CNW Group/Ballard Power Systems Inc.)

National Bank Financial Inc. and Raymond James Ltd. acted as joint bookrunners for the Offering, with a syndicate of underwriters which included Cormark Securities Inc. and TD Securities Inc.

About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, passenger cars and forklift trucks. To learn more about Ballard, please visit www.ballard.com.

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SOURCE Ballard Power Systems Inc.

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