Weichai Power Reduces Stake in Ballard Power Systems to 10.32% via Open Market Sales

This Amendment No. 3 to Schedule 13D, filed on May 19, 2026, reports a significant reduction in the beneficial ownership of Ballard Power Systems Inc. (BLDP) by Weichai Power Hong Kong International Development Co., Ltd. and its affiliates, Weichai Power Co., Ltd. and Shandong Heavy Industry Group Co., Ltd. (SHIG). Between May 8 and May 15, 2026, Weichai Hong Kong sold an aggregate of 15,028,886 common shares through open market transactions. The most recent series of sales involved 3,897,000 shares sold on May 15, 2026, at an average price of $4.0688 per share. Following these transactions, the reporting persons collectively hold 31,102,826 common shares, representing 10.32% of the issuer's outstanding stock, down from a previous 11.61%. The sales were executed pursuant to Rule 144 and resulted in a decrease of over 1% in aggregate beneficial ownership since the last filing. Weichai Power and SHIG share voting and dispositive power over the shares held by Weichai Hong Kong due to their corporate control structure.