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Key developments in Fuel Cells Capital Markets Event Seoul, 23 May 2012
23

2012 Capital Markets Days Seoul - Fuel Cells

Sep 11, 2014

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Page 1: 2012 Capital Markets Days Seoul - Fuel Cells

Key developmentsin Fuel Cells

Capital Markets EventSeoul, 23 May 2012

Page 2: 2012 Capital Markets Days Seoul - Fuel Cells

2

What is a fuel cell?

Fuel cells generate electricity by means of a reversible electrochemical reaction

Energy supply is hydrogen and oxygen,by-products are water and heat

Oxygen is taken from ambient air

Hydrogen source can be pure H2 gas, natural gas, methanol or other organic materials

Hydrogen is stored outside the fuel cell ina separate tank

Performance characteristics

Energy is mainly determined by the size of the storage tank

Power is determined by the size of the fuel cell stack

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Fuel cell types

Proton exchange Membrane Fuel Cells (PEMFC) are dominant technology

Mainly used today in stationary applications in Asia and transport in North America

Performance characteristics make it best candidate for automotive applications

Uses H2 gas as energy source

Scalable from W to MW

Suitable for dynamic operations(e.g.: start/stop, drive cycles,…)

Direct Methanol Fuel Cells (DMFC) is a variant, using methanol as energy source

Other types (PAFC, AFC, MCFC, SOFC) have more limited applications due to their stringent operating conditions

Installed in small numbers for very large and continuously operated applicationsFuel cell shipments in 2010

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Current market

Today first commercial products are produced for slowly developing markets

Back up power

Off grid systems

Specialty vehicles

Buses

Distributed energy generation

Residential Combined Heat-Power (CHP) units

Commercial applications dominated by PEMFCs

2.30

54.8

32.9

Portable electronicsStationaryTransport

[MW]

Fuel cell shipments in 2010

Source: Fuel Cell Today

Page 5: 2012 Capital Markets Days Seoul - Fuel Cells

5

Early commercial/prototype phase

(mainly mobility)

Market introduction(mainly stationary power)

Estimated timeline of market introductionor early commercial phase

2010-12

Source: Canadian Hydrogen & Fuel Cell Association

2012-2014

2015-2020

Backup Power

Market 2011 > 1000 units

Materials Handling

Market 2011 > 1000 units

CHP units

Market 2011 > 10,000 unitsin Japan

Distributed Generation

Market 2011 < 10 units

Bus

Market 2011 > 10 units

Car

Market 2011 > 100 units

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Why do we need fuel cells in automotive?

In order to achieve the EU CO2 reduction ambition of 80% by 2050,road transport must achieve 95% decarbonisation

Portfolio of PHEVs, BEVs and FCEVs is only long term solution to obtain this decarbonisation target

In a decarbonised road transport world FCEVs are the only solution offering longer driving ranges

100

50

150

00 400 600200 800 1000 1200 1400

CO2

emission[g/km]

Range[km]

ICEdiesel

ICEgasoline

PHEV

FCEV

BEV

2010

2050

2010

2050

2010

2050

2010

2050

2010

2050

EU 2015target

EU 2020target

ICE Internal Combustion Engine-powered vehicle

BEV Battery-powered Electric Vehicle

HEV Hybrid Electric Vehicle

PHEV Plug-in Hybrid Electric Vehicle

FCEV Fuel Cell-powered Electric Vehicle

Source: A portfolio of power-trains for Europe: A fact-based analysis (EU coalition study 2010)

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Major OEMs have fuel cellson their development roadmap

First market introduction for FC-powered cars planned in 2012, 2013, 2014 and 2015

Fuel cell-powered buses are already sold commercially by Daimler, Toyota, Hyundai and integrators such as Van Hool

Source: GM LBST compilation

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Current state of the automotive fuel cell market

Programmes are agreed to roll out fuel cell cars and infrastructure simultaneously between

Public authorities

Automotive OEMs

Infrastructure companies

Programs are in place in

Europe

USA

Japan

KoreaSource: Canadian Hydrogen & Fuel Cell Association (2009)

Steps paving the way to commercialisationof fuel cell electric vehicles

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Current state of the automotive fuel cell market

There are satisfactory solutions to address main technical hurdles such that the development of commercial vehicles can continue

Water management

Cold weather operation

Performance

Durability

System size

Cost reduction is remaining issue, for which OEMs identified ways to get there

Mass production and economies of scale

Further material and system advancement

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2010 2015 2020 2050

Lifetime[‘000 km]

115 180 247 290

Pt use[g/kW]

0.93 0.44 0.24 0.11

The fuel cell cost curve

Significant cost reductions to be obtained

Engineering technical issues

Design and materials innovation

Process cost reductions

Mass production effect

Fuel cell system cost reduction objectives*

By 2020 -75%

By 2050 -95% MEA (incl. catalyst) -90%

Catalyst (incl. Pt) -80% * Source: A portfolio of power-trains for Europe: A fact-based analysis (EU coalition study 2010)

Fuel cell system cost (in car)

-95%

Cost

MEA

Catalyst -75%

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Platinum availability

FCEV today needs more Pt than in an emission control catalyst

Today some 5-10x more or ~40g per car

Product expected to reduce this by 50% by 2050 (20g) and a further 50% by 2050 (10g)

Total availability of Pt is a concern to meet growing penetration of FCEVs

1 million FCEVs by 2020 would represent ~20 tons of Pt

20 million FCEVs by 2050 would represent ~200 tons of Pt

Compares to today's total supply of ~240 tons (including recycling for 25%)

US department of Energy indicated this long-term trend can be met

Mining capacity to be increased, requiring adjusted and more advanced mining technology

Efficient recycling will be key (available today at Umicore, closed loop models are a must)

Mobility behaviour will have to change (mix of BEVs, FCEVs, public transport)

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Hydrogen availability

Hydrogen generation/distribution is not a technical issue

Hydrogen filling stations are existing technology

They can be built in growing numbers in the coming years by the industrial gas players (e.g. Linde, Air Liquide)

Hydrogen can be produced from renewable energy, without any CO2 emissions, creating new energy and mobility business model opportunities

Hydrogen can be used as storage medium for electricity by using electrolysis

Large energy and utility companies are investigating large scale energy storage technology by means of hydrogen

These initiatives complement the fuel cell mobility case, for which green hydrogen is the clear expectation of the public

Linde hydrogen filling station

Honda hydrogen filling station

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Recycling

chemistrymetallurgy

materials science

materialmaterial

Completes Umicore’s technology exposure to automotive roadmap

Future car will be electrical, most probably hybrid, with battery and fuel cell

Automotive industry is major driver for fuel cell technology

Fit with Umicore business model

Precious metals containing added-value materials

Recycling is key in the model

Close technology fit with Umicore business

Precious metals chemistry and catalysis

Close application fit with Umicore business

Energy products

Automotive end user market

Why is Umicore active in fuel cells?

materialsolutions

PGMs

CatalysisPM chemistry

Recycling

EnergyAutomotive

Fuel Cells

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Umicore combines efforts with Solvayforming SolviCore

50%

50%

PM-basedcatalysts

Membraneionomer

MembraneElectode

Assemblies(MEA) Fuel cell

producer

Each player is focused on own products and technology

Umicore and Solvay can also supply other MEA producers,while SolviCore can also source from other suppliers

The key componentof the fuel cell

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Company PMprecious metals

PMCprecious metals

chemistryCatalyst

Membrane ionomer

MEAMembrane Electrode

Assembly

Recyclingof PM

Umicore / SolviCore

(Umicore)

(Umicore)

(Umicore)

(Solvay)

(SolviCore)

(Umicore)

BASF Concentrating on High TemperaturePEM-MEAs

Johnson Matthey

Gore

3M

Tanaka

Umicore/SolviCore/Solvay combination ideallyplaced in competitive landscape for automotive fuel cells

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H2/air

Automotive

H2/O2

StationaryCHP, APU, UPS*

H2

generationH2/air *combined heat and power

generation auxiliary power unit uninterrupted power supply

SolviCore is addressing the following MEA marketswith multiple collaborations

RefH2/air

PEM electrolysi

s

Collaboration withmultiple OEMs

Collaboration withsome engineering

companies

Collaboration withsome engineering

and gas companies

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Collaboration examplesAutomotive drivetrain fuel cell

Umicore and SolviCore are official partners in Volkswagen´s HyMotion 5 project

Development of1st German automotive fuel cell stack for the HyMotion 5 car fleet

Introduction expected by 2015/16

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Collaboration examplesAutomotive Range Extender Fuel Cell (REFC)

Michelin developed a 5kW H2/air REFC for vehicle integration with SolviCore MEAs for FAM auto for an electrical F-City vehicle

Presented at Michelin Challenge Bibendum in 2011

Michelin started commercialisation of REFCconcept in 2011

Renault is working on battery Range Extender Fuel Cell concepts (REFC) in close collaboration with SymbioFCell

Goal to overcome range and recharge time limitations of Renault’s ZE vehicle fleet

An REFC and battery powered HyKangoo with SolviCore MEAs will be presented by Solvay together with Renault Tech and SymbioFCell in June 2012 at Solvay Tavaux, France

5 kW RE

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Collaboration examplesStationary fuel cells

Air Liquide intensified its hydrogen and fuel cell program in the last 2 years and is now leading the French H2E and H2 mobility program

Air Liquide and Indian Barthi telecom (first Indian telecom service provider) signed MoU which should lead to the foundation of a JV to provide electric energy to remote telecom towers as a service based on hydrogen and fuel cell (“Off-Grid”)

SolviCore is Axane´s long term partner for all systems employed until today

Off-Grid

Backup

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Collaboration examplesSolvay’s Lillo plant, hydrogen stations & transports

Solvay installed a 1 MW PEM fuel cell unit in 2011 at its plant in Lillo, Belgium with MEAs supplied by SolviCore

Produces electricity from hydrogen by-product coming from chemical electrolyis plant

Plant can be used to monitor >10.000 MEAs in real life operation

Solvay will install and operate 2 hydrogen filling stations

Lillo (Belgium): Support hydrogen bus fleet in the port of Antwerp

Tavaux (France): Support local hydrogen driven vehicles

Solvay will operate 2 Renault HyKangoos at its Tavaux plant (France) in June 2012

In collaboration with Renault Tech, SymbioFCell and SolviCore

In the framework of the French H2E program

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Forward-looking statements

This presentation contains forward-looking information that involves risks and uncertainties, including statements about Umicore’s plans, objectives, expectations and intentions.

Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Umicore.

Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected.

As a result, neither Umicore nor any other person assumes any responsibility for the accuracy of these forward-looking statements.

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