Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), today announced it has started mass production of new 54-cell format module with 182 mm cell for residential, commercial and industrial rooftop solar systems. The shipment of this new format modules has already started this month.

CS6R-MS, the new module type under HiKu6 series, has the power output of up to 420 W and module efficiency of up to 21.5%. The CS6R-MS module is especially suitable for rooftop solar applications given its small module size (1.95 m² ˣ 30 mm), light weight (21.3 kg), and outstanding aesthetic design for homogenous appearance.

Canadian Solar provides various types of bifacial and mono-facial solar modules with power output in the range of 400~670W to global customers, including modules in 210 mm 66-cell and 60-cell formats, and 182 mm 72-cell and 54-cell formats.  CS6R-MS, the latest member of HiKu6 182 cell module family, will solidify Canadian Solar's technology leadership and market share in residential, commercial and industrial rooftop solar systems by offering:

• 5~10 W higher power and around 0.5% higher module efficiency than the similar format PERC modules in market. The CS6R-MS module has the power up to 420 W and its module efficiency is up to 21.5%.
• Small module size, light weight, and outstanding aesthetic design, especially suitable for rooftop solar systems. Silver frame, black frame and all black modules are available.
• High reliability and safety. CS6R-MS module has been granted Level 1 certification according to the latest IEC 63126 standard, ensuring the module will generate electricity safely and durably even under the harsher rooftop operating conditions. IEC63126:2020 guidelines are for qualifying PV modules, components, and materials for operation at high temperatures.
• Enhanced product warranty. CS6R-MS comes with an enhanced 25-year product warranty on materials and workmanship for residential rooftop applications.
• The electrical characteristics of CS6R-MS are compatible with most common photovoltaic inverters thanks to current values below 14 A.
• Besides PERC cells, Canadian Solar is also developing CS6R module with HJT cells and expects to start commercial delivery in this April. CS6R has a module efficiency of up to 22.5% and power output up to 440 W.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, remarked, "I am excited to announce that we have started mass production and delivered the first batch of the 54-cell modules of up to 420 W based on 182 mm PERC cells. Moreover, the module with N-type HJT cells will be delivered in April. Our new products will further improve the energy yield and reduce the LCOE of residential, commercial, and industrial rooftop solar systems, and meanwhile enable to offset more CO2 emissions. Canadian Solar will continue to develop high quality and reliable solar products to meet the needs of our customers around the world."

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 20 years, Canadian Solar has successfully delivered over 63 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 6.2 GWp in over 20 countries across the world. Currently, the Company has around 430 MWp of solar projects in operation, nearly 7 GWp of projects under construction or in backlog (late-stage), and an additional 17 GWp of projects in pipeline (mid- to early- stage). 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 the U.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 and economic conditions and the state of the solar industry; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; 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 as Japan, the U.S., India, China and Brazil; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in 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; delays in the process of qualifying to list the CSI Solar subsidiary in the PRC; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; logistical challenges that could increase the selling costs of the Company; exchange rate fluctuations; litigation; potential initiation of an anti-circumvention investigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 19, 2021. 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, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.