FORM 51-102F3

MATERIAL CHANGE REPORT

1.    Name and Address of Company

Ballard Power Systems Inc. (“Ballard” or the “Company”)

9000 Glenlyon Parkway

Burnaby, British Columbia

V5J 5J8

2.     Date of Material Change

March 29, 2021

3.     News Release

The news release was disseminated on March 10, 2021 through Canada Newswire.

4.     Summary of Material Change

The Company announced the appointment of Mr. Paul Dobson as Senior Vice President and Chief Financial Officer, effective March 29, 2021, following the resignation of Mr. Tony Guglielmin.

5.1     Full Description of Material Change

The Company announced the appointment of Mr. Paul Dobson as Senior Vice President and Chief Financial Officer, effective March 29, 2021. Mr. Dobson will replace Mr. Guglielmin, who is retiring after serving as the Company's Chief Financial Officer since 2010.

Mr. Guglielmin will continue to serve as an employee of the Company in an advisory role until May 31, 2021 to support the Chief Financial Officer transition process.

5.2     Disclosure for Restructuring Transactions

Not applicable.

6.     Reliance on subsection 7.1(2) of National Instrument 51-102

This report is not being filed on a confidential basis.

7.     Omitted Information

Not applicable.

8.     Executive Officer

Kerry Hillier, Corporate Secretary

Telephone: (604) 454-0900

kerry.hillier@ballard.com

9.     Date of Report

March 31, 2021.