1. Supply Chain Integration: Getting the Benefits from Mergers

2. ▪ On Jan. 8, 2003, Hydrogenics acquired Greenlight for $32.5mm ▪ Paid a combination of HYGS stock (90%) and cash (10%) with 12 and 18 month lock-up ▪ Combined #1 and #2 fuel cell test suppliers globally ▪ Greenlight established as wholly owned subsidiary responsible for test stations and testing services ▪ Hydrogenics test business rolled into Greenlight and run as independent, autonomous unit out of Vancouver (kept Greenlight name) ▪ Hydrogenics Toronto facility focused on stacks, power modules, H2 generation and engineering services ▪ Had to deal with issue of customers concerns over independence and ownership by competing company The Deal

3. ▪ Market Dominance- eliminates competition and now have most of the fuel cell companies as customers ▪ Financial Strength- parent company with cash and GPT growth with all test station business moving to Vancouver ▪ Stock Liquidity an Increased Valuation- for Greenlight founders and employees ▪ Improved Product Line- combine complimentary products lines ▪ Lower Cost Structure- Eliminate duplication and greater purchasing power and manufacturing efficiencies from increased volumes. ▪ Global Presence- offices in Japan, Germany and east coast North America ▪ Focus- allows HYGS to grow power products business ▪ Independence –Customers comfortable with separate entity for test ▪ Access to Strategic Partnerships – Introduced HYGS to Chevron Texaco and GPT to GM Benefits of Combination

4. Integration Team: Requires Input & Focus From Both Organizations ROLE: Meet monthly to review status and resolve issues Steering Committee ROLE: Facilitate teams through design and implementation for their core area. Resolve issues or escalate to Integration Manager ROLE: Coordinate and manage all integration activities. Identify risk factors, issues and recommend strategies to mitigate. Integration Management Bruce Townson Functional Integration Teams Manufacturing and Supply Chain ProductsFinance HRIT James Dean Heather Ito Tom Hoang Frank Ludgate Gord Lamont Roger Harper Ravi Gopal Charley Pappas Jim Collins Ken Chaun Allison Ruch Peter Scheck Andy Chen Huseyin Ayman Chrisha R. Rolanda Chen Jeff Plato Mark Kammerer Alex Beaudet Aaron Hardwick Mike Rhodes Pierre RivardBoyd Taylor David ChapmanGary Brandt (1) James Dean (1) Jonathan Lundy Service & Support Sales & Distribution ROLE: Provide information and support as required throughout integration Integration Resources Dave Wetter Bob Williamson Melissa McKinnon (1)Day to Day contact on the Steering Committee for Integration Teams Lead Members

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