#Canada #Vancouver #KPMG #Ballard Power #AGM 2025

Ballard Power Systems 2025 Annual General Meeting Overview

On June 4, 2025, Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) conducted its Annual General Meeting (AGM) where various important decisions and elections were made, reshaping the company's leadership for the upcoming year.

Election of Directors

During the meeting, all director nominees stated in the Management Proxy Circular dated April 7, 2025, were successfully elected as directors of the company. The shareholders present or represented by proxy cast their votes, leading to a re-election of Ballard's directors with a significant majority. The detailed voting results for each nominee were as follows:

• - Kathy Bayless: 84,684,573 votes for (97.71%)
• - Michael Chen: 84,336,534 votes for (97.30%)
• - Jacqueline Dedo: 78,793,325 votes for (90.91%)
• - Douglas P. Hayhurst: 78,041,127 votes for (90.04%)
• - Randy MacEwen: 84,892,738 votes for (97.95%)
• - Hubertus M. Muehlhaeuser: 77,913,248 votes for (89.89%)
• - Marty Neese: 84,225,903 votes for (97.18%)
• - James Roche: 84,789,591 votes for (97.83%)
• - Yingbo Wang: 84,290,998 votes for (97.25%)
• - Janet Woodruff: 77,861,876 votes for (89.83%)

These voting outcomes reflect a strong confidence in the board, emphasizing Ballard's commitment to maintaining a skilled leadership team dedicated to the company's goals.

Re-Appointment of Auditor

The shareholders also re-appointed KPMG LLP, Chartered Accountants, as the company’s auditors. This decision solidifies the continuity and stability of audit oversight, as KPMG has a longstanding relationship with Ballard Power Systems. The voting results revealed that 88,666,862 votes (85.24%) were cast in favor of this re-appointment, while 15,351,003 votes (14.76%) withheld support.

Executive Compensation Approval

Another significant point on the agenda was the executive compensation package. An advisory vote approved the compensation approach for executives, with 76,971,303 votes (88.81%) in favor and 9,702,236 votes (11.19%) against. The approval indicates shareholders' support for the management team's compensation framework and strategies aimed at driving company performance.

Conclusion

The 2025 AGM for Ballard Power Systems reflects shareholder confidence and the strategic direction of the company. With the re-election of its directors and the backing of KPMG for auditing services, Ballard remains well-positioned to continue its mission of sustainability through fuel cell power solutions. For further details regarding individual director biographies, more information can be found in the