Analyst Coverage

Ballard Power Systems is followed by the analysts listed below. Please note that any opinions, estimates or forecasts regarding Ballard Power Systems' performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Ballard Power Systems or its management. Ballard Power Systems does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.


Firm                                                  Analyst
Ardour Capital          Walter Nasdeo
Cormark Securities    MacMurray Whale                          
Lazard Capital Markets    Sanjay Shrestha
Sidoti & Company    Michael Cikos
Stifel Nicolaus         Jeff Osborne
ThinkEquity Partners    Colin Rusch