Canadian Solar to Present the EP Cube Residential Energy Storage Solution at the Genera Trade Show in Spain

GUELPH,ON,Feb. 15,2023 -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that its majority-owned subsidiary CSI Solar Co.,Ltd. ("CSI Solar") will launch the EP Cube in Europe,following the successful launch in North America in September 2022. The EP Cube is an all-in-one energy storage solution for residential applications,which will enable greater adoption and improved economics in combination with residential solar photovoltaic systems.

The EP Cube will be officially presented in Europe at the Genera exhibition in Madrid,Spain,on February 21-23,2023. The EP Cube will allow users to increase the efficiency of their self-consumption solar PV installations by storing,managing and using the electricity generated with their own PV system. EP Cube is a flexible and smart solution that optimizes costs and reduces users' reliance on the electrical grid,at a time of elevated electricity prices.

EP Cube is developed and produced by Eternalplanet,a consumer-oriented independent brand of energy technology under Canadian Solar's CSI Solar subsidiary.

The EP Cube integrates a hybrid inverter with stackable storage modules,while simultaneously absorbing communication cables and wires together in a stacked-up module design. It works with both new and already existing AC and DC-coupled PV systems. EP Cube is scalable and customizable from 6.6 kWh to 19.9 kWh capacities and compatible with most existing PV systems,micro-inverters,and EV chargers,making it a versatile solution. It can be installed both indoors and outdoors thanks to its IP65 rating,making the system resistant to dust and humidity.

The EP Cube is easy to transport and install – given its small size of 24.3 cm in thickness and light weight of 35 kg per battery module – which translates into shorter installation time and cost reductions for both homeowners and installers. Thanks to its aesthetically sleek design,it matches and integrates beautifully with various home styles.

With the EP Cube app users can easily manage their residential storage system and control the energy production and consumption at home in real time. The system has 3 operation modes that are designed to cover a wide range of usage scenarios: Self-consumption,time of use (TOU) and backup mode. Detailed settings under each mode can be adjusted and monitored via the mobile app.

Dr. Shawn Qu,Chairman and CEO of Canadian Solar,commented,"We are excited to expand our services and enter the home energy storage market with the launch of EP Cube. In Spain and Europe more broadly,more and more users are turning to clean solar energy as part of the energy transition,and the EP Cube is the perfect storage solution for users who want to adopt a cleaner lifestyle while reducing their energy costs and ensuring access to electricity throughout the year."

Canadian Solar will be at Genera (Spain)

Genera is one of the most important events in the renewable energy industry,taking place from 21st to 23rd February 2023 in Madrid. Further information about EP Cube will be available at Canadian Solar's booth 8A18 or by joining the presentations onsite.

About Canadian Solar Inc.

Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules,provider of solar energy and battery storage solutions,and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 21 years,Canadian Solar has successfully delivered around 82 GW of premium-quality,solar photovoltaic modules to customers across the world. Likewise,since entering the project development business in 2010,Canadian Solar has developed,built and connected over 7 GWp in over 20 countries across the world. Currently,the Company has approximately 500 MWp of projects in operation,6 GWp of projects under construction or in backlog (late-stage),and an additional 19 GWp of projects in advanced and early-stage pipeline. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry,having been publicly listed on the NASDAQ since 2006. For additional information about the Company,follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of theU.S.Private Securities Litigation Reform Act of 1995. In some cases,you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms,or other comparable terminology. Factors that could cause actual results to differ include general business,regulatory and economic conditions and the state of the solar and battery storage market and industry; geopolitical tensions and conflicts,including impasses,sanctions and export controls; volatility,uncertainty,delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets,such asJapan,theU.S.,China,BrazilandEurope; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility,especially environmental,social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; uncertainties related to theCSI Solarcarve-out listing; litigation and other risks as described in the Company's filings with theSecurities and Exchange Commission,including its annual report on Form 20-F filed onApril 28,2022,as amended on October 18,2022. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable,it cannot guarantee future results,level of activity,performance,or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date,unless otherwise stated,andCanadian Solarundertakes no duty to update such information,except as required under applicable law.

CANADIAN SOLAR INC. INVESTOR RELATIONS CONTACTS

Isabel Zhang

Investor Relations

Canadian Solar Inc.

investor@canadiansolar.com

David Pasquale

Global IR Partners

914-337-8801

csiq@globalirpartners.com

CSI SOLAR MEDIA INQUIRIES

SnezanaFeige

Senior Manager,Marketing

snezana.feige@csisolar.com

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