1. 1 FIELD DEMONSTRATION Verizon site at Albany International Airport

2. 2 Grid Parallel Power 2000 Innovators / Early Adopters 2020 Value Commodity Pricing Remote Stationary Automotive Intermittent Power On-site H 2 Generation MARKET ENGAGEMENT Progressive market engagement

3. 3 Economical small scale hydrogen production On-Site Hydrogen Generation Value Proposition  Low Cost of Ownership Low Maintenance Low Operating Overhead  Reliable  Ease of Use  SecurityApplications  Generator Cooling  Metal Fabrication

4. 4  Over 385 GenSys reformer based units sold to date  GenSys systems have run for over 2M kWhrs  Reformer availability >98% BOP Fuel Processor PSA Customer Header Low Pressure Compressor AC Power Natural Gas Water Compressor W/Storage (optional) Leverage existing technology

5. 5 Performance Attributes  Purity Type 1 Grade B Hydrogen >99.95% H2 -51C Dew Point  Pressure 125 psi  Flowrate 7 Nm3/hr Reformer based on-site hydrogen generation

6. 6 Commercial Units to Customers 2003 2004 2005 Design Phase for Commercial Units Design Phase for Demonstration Systems Field Demonstration Program Review DEVELOPMENT PLAN

7. 7 *$/100 scf figures include Cost of capital, Service (Matl & Labor), NG, Electric (@$0.12/kWhr), Water. GenSite capitalized over 5 years, Electrolysis capitalized over 10 years. Feature PEM ElectrolysisGenSite™ Pressure150 psi-200 psi120 psi Purity99.999%99.95% Life10 years5 years Maintenance$30K/year$9K/year Output8 nm 3 /hr (2.8 100scf/hr) 7 nm 3 /hr (2.5 100scf/hr) Capital Payback3 years SafetyCE, UL, NFPA and other Cert’s necessary $/100 scf**$3.65 – 3.95$2.60 - $2.80 TECHNOLOGY COMPARISON Significant economic benefit vs.electrolysis

8. 8 OEM/Distributor channel Field Service Direct Sales Product content Collaboration 1. Technical 2. Marketing Existing Markets “Gas” Multiple OEMs Plug Power Distributors Integrated Products “Value” GENCORE MARKET ACCESS Partnering for success

9. 9 Grid Parallel Power 2000 Innovators / Early Adopters 2020 Value Commodity Pricing Automotive Intermittent Power On-site H 2 Generation Remote Stationary MARKET ENGAGEMENT Progressive market engagement

10. 10 Grid independent remote prime power Value Proposition  Reliable  Environmentally Friendly Quiet / Low Emissions  Efficient Lower fuel consumption  Ease of Use Power on DemandApplications  Prime power for remote facilities: telecommunications, residential, small commercial (rest areas, agricultural and farming) applications… LPG fueled AC/DC prime power systems GenSys 5I

11. 11 Grid Parallel Power 2000 Innovators / Early Adopters 2020 Value Commodity Pricing Automotive Intermittent Power On-site H 2 Generation Remote Stationary MARKET ENGAGEMENT Progressive market engagement

12. 12 A group of grid connected decentralized fuel cell systems that are centrally controlled to meet the peaking demand of the electric grid. Gas Heat Power Hot water Load Profile Peak Demand Gateway Service Fuel Cell Operating Net Control Value Proposition  Environmentally Friendly Efficient, Quiet & Low Emissions  Ease of Use Power on Demand Install, Maintenance and Operation  Reliability Improve grid reliability –Black start and stand-byApplications  Residential / small commercial facilities in congested and load pocket areas The Virtual Power Plant Grid parallel prime power

13. 13 Grid Parallel Power 2000 Innovators / Early Adopters 2020 Value Commodity Pricing Automotive Intermittent Power On-site H 2 Generation Remote Stationary MARKET ENGAGEMENT Progressive market engagement

14. 14 Clean, Reliable, On-Site Energy A group of grid connected decentralized fuel cell systems that produce electricity, heat and hydrogen. Supplying energy for the facility and fuel for your car. Value Proposition  Environmentally Friendly Efficient, Quiet & Low Emissions  Ease of Use Power on Demand Install, Maintenance and Operation  Reliability Improve grid reliability –Black start and stand-byApplications  Residential / small commercial facilities Home Energy System Grid parallel prime power / hydrogen infrastructure

15. 15 Plug Power has established a clear leadership position:  Consistent achievement of milestones  Technology leadership  World-class partners / relationships  Strong and proven management team  Field experience: Installed more stationary PEM fuel cell systems than anyone in the industry Fuel cell industry is at a point of separation:  Hydrogen economy is gaining momentum  “Winners” are being distinguished from “losers”  Opportunity exists now  Plug Power is the right company at the right time SUMMARY

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17. 17 HEADQUARTERS 968 Albany-Shaker Road Latham, New York 12110 Phone: (518) 782-7700 Fax: (518) 782-9060 WASHINGTON, D.C. 499 South Capitol Street, SW Suite 606 Washington, D.C. 20003 Phone: (202) 484-5300 Fax: (202) 554-2896 EUROPE 7301 BC Apeldoorn P.O. Box 880 The Netherlands Phone: 31 55 53 81 000 Fax: 31 55 53 81 099 www.plugpower.com