www.jpmorganmarkets.comGlobal Equity Research22 April 2022This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. Global Energy OutlookSpotlight on Hydrogen, alternative energy & nascent technologies; Key Ideas: ITM and PLUGEMEA Mining, Steel & HydrogenPatrick Jones AC(44-20) 7742-5964patrick.jones@jpmorgan.comBloomberg JPMA PJONES J.P. Morgan Securities plcU.S. Transportation and Fuel TransformationBill Peterson AC(1-415) 315-6766bill.peterson@jpmchase.comBloomberg JPMA PETERSONB J.P. Morgan Securities LLCGlobal Energy StrategyChristyan F Malek(44-20) 7134-9188christyan.f.malek@jpmorgan.comJ.P. Morgan Securities plcRicardo Rezende, CFA(44-20) 7742-6896ricardo.rezende@jpmorgan.comJ.P. Morgan Securities plcEllis F Skinner(44-20) 7134-7684ellis.skinner@jpmorgan.comJ.P. Morgan Securities plcESG & Sustainability ResearchJean-Xavier Hecker(33-1) 4015 4472jean-xavier.hecker@jpmorgan.comJ.P. Morgan Securities plcSee page 22 for analyst certification and important disclosures, including non-US analyst disclosures.J.P. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.In the Global Energy Outlook (link), we argue that Hydrogen (H2) will play a pivotal role in the energy transition post 2030, particularly for several hard to-abate sectors (such as stee...
