KITCHENER, ON, Nov. 11, 2025 – Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ) announced today that it has signed a 25-year Power Purchase Agreement (PPA) with a major domestic corporation in Japan. The agreement covers the newly constructed 28.9 MWp CS Okayama Shin-Yubara CC Solar Plant, which is located in Maniwa City, Okayama Prefecture. The facility commenced operation in October 2025.

CS Okayama Shin-Yubara CC Solar Plant (Photo: WIND-SMILE Inc.)

Under the PPA, Canadian Solar will provide its customer with environmental value compliant with RE100 technical standards through 2050, marking an important step toward the customer’s long-term carbon neutrality goals.

This project was arranged in collaboration with RE Bridge®, a renewable energy matching platform operated by Digital Grid Inc. (TSE: 350A). Electricity generated by the project will be sold on the Japan Electric Power Exchange (JEPX) through Digital Grid under its Green Purchase Agreement (GPA®), a Virtual Power Purchase Agreement (VPPA) structure that utilizes the FIP (Feed-in Premium) system.

Ryota Yamada, General Manager of Canadian Solar’s Japan Energy Group, stated, “We are proud to have completed and contracted the CS Okayama Shin-Yubara CC Solar Plant, which maximizes environmental value to support the goals of our customer and the broader market. We are grateful to Digital Grid for their dedicated efforts in realizing the VPPA within a limited timeframe. Moving forward, we will continue to expand the supply of clean, reliable, and affordable energy while respecting and supporting the local environment and the communities in which we work, just as we have with this project.”

About Canadian Solar

Canadian Solar is one of the world’s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 24 years, Canadian Solar has successfully delivered nearly 165 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 13 GWh of battery energy storage solutions to global markets as of June 30, 2025, boasting a $3 billion contracted backlog as of June 30, 2025. Since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 27 GWp of solar and 80 GWh of battery energy storage capacity in various stages of development. 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, regulatory and economic conditions and the state of the solar power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; 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 China, the U.S., Europe, Brazil and Japan; 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; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; 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; litigation and other risks as described in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 30, 2025. 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.

Canadian Solar Inc. Investor Relations Contact

Wina Huang

Investor Relations

Canadian Solar Inc.

investor@canadiansolar.com