Yield vs simulation of Canadian Solar modules October 2012 QUALITY I VALUE I INNOVATION

Yield vs simulation of Canadian Solar modules October 2012 QUALITY I VALUE I INNOVATION December 2012

Safe Harbor Certain statements in this presentation including statements regarding expected future financial and industry growth 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; governmental support for the deployment of solar power; future shortage or availability of the supply 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, including customers of our silicon materials sales; changes in demand from major markets such as Germany; 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; 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; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F originally filed on June 8, 2009. 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. You should not placeunduerelianceontheseforward-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.

Yield vs simulation of Canadian Solar installed modules Outline General information Simulation parameters criteria Study outcome PV installations on study Case 1: Caldaro (Italy) Case 2: Rapshagen (Germany) Case 3: Bassano del Grappa (Italy) Case 4: Caceres (Spain) Case 5: Galliera Veneta (Italy) Case 6: Cadolzburg (Germany) Case 7: Collesecco (Italy ) Case 8: Oristano (Italy) Case 9: San Liberato (Italy)

Yield vs simulation of Canadian Solar installed modules Outline General information Simulation parameters criteria Study outcome PV installations on study Case 1: Caldaro (Italy) Case 2: Rapshagen (Germany) Case 3: Bassano del Grappa (Italy) Case 4: Caceres (Spain) Case 5: Galliera Veneta (Italy) Case 6: Cadolzburg (Germany) Case 7: Collesecco (Italy ) Case 8: Oristano (Italy) Case 9: San Liberato (Italy)

General information Simulation parameters criteria Real data provided by the customer, measured at the inverter level. Simulations performed with PVsyst 5.59 The design losses parameters used in PVsyst simulations are the following: LID 2.3%, annual degradation 0,7% Mismatch 1% Soiling 1% The rest of the losses parameters were set up by default. The used meteo database is MeteoNorm 7.0

General information Study outcome The one diode model used by PVsyst does not fit accurately to the real yield at low irradiation levels, therefore simulated values are slightly higher than reality, for this reason in winter season some of the PV installations produce less energy than the simulated one. Italy and Spain have less low irradiation level days than Germany, thereforetheimpactofthelossofaccuracyofpvsystsimulationatlow irradiance level is lower. The 2011 Spanish winter got the highest irradiation over the last decades. In Italy, March 2012 also got highest irradiation over the last decades. PVsyst simulations on roof top are slightly lower than the real yield, due to the high temperature (NOCT 56ºC) considered by PVsyst.

Yield vs simulation of Canadian Solar installed modules Outline General information Simulation parameters criteria Study outcome PV installations on study Case 1: Caldaro (Italy) Case 2: Rapshagen (Germany) Case 3: Bassano del Grappa (Italy) Case 4: Caceres (Spain) Case 5: Galliera Veneta (Italy) Case 6: Cadolzburg (Germany) Case 7: Collesecco (Italy ) Case 8: Oristano (Italy) Case 9: San Liberato (Italy)

Case 1: Caldaro, Italy System information Site: Type of installation: Peak Power System: Azimuth: Tilt: Inverter Number / Type: Caldaro (Italy) Roof Top 49,82 kwp 16ᵒ 17ᵒ 2 / Power One PVI 6 1 / Power One PVI 10 2 / Power One PVI 12,5 24 / CS6P 235P Modules Number / Type per inverter: 44 / CS6P 235P 60 / CS6P 235P Commissioning Date: March, 2011

Case 1: Caldaro, Italy Monthly yield 2011 2012 (kwh) 9.000 Simulation 2011 2012 Yield 2011 2012 8.000 7.000 6.000 5.000 4.000 3.000 2.000 1.000 0

Case 1: Caldaro, Italy Annual yield 2011 2012 66.850 66.800 66.750 66.772 kwh 66.700 66.650 66.600 66.550 66.500 66.450 66.457 kwh 66.400 kwh Simulation 2011 2012 Yield 2011 2012

Case 2: Rapshagen, Germany System information Site: Type of installation: Peak Power System: Azimuth: Tilt: Inverter Number / Type: Rapshagen (Germany) Ground mounted 9.681 kwp 0ᵒ 30ᵒ 429 / Refusol 20K 96 / CS6P 230P Modules Number / Type per inverter: 96 / CS6P 220P 72/CS6P 230P Commissioning Date: April, 2012

Case 2: Rapshagen, Germany Monthly yield 2011 2012 (kwh) 1.600.000 Simulation 2011 2012 Yield 2011 2012 1.400.000 1.200.000 1.000.000 800.000 600.000 400.000 200.000 0 May June July August

Case 2: Rapshagen, Germany Annual yield 2011 2012 4.980.000 4.978.000 4.977.794 kwh 4.976.000 4.974.000 4.972.000 4.970.000 4.968.000 4.967.679 kwh 4.966.000 kwh Simulation 2011 2012 Yield 2011 2012

Case 3 : Bassano del Grappa, Italy System information Site: Bassano del Grappa (Italy) Type of installation: Ground mounted Peak Power System: 91,20 kwp Azimuth: 12ᵒ Tilt: 13ᵒ Inverter Number / Type: 8 / Omron KP100L Modules Number / Type per inverter: 48/CS6P 240P Commissioning Date: January, 2012

Case 3 : Bassano del Grappa, Italy Monthly yield 2011 2012 (kwh) 18.000 Simulation 2011 2012 Yield 2011 2012 16.000 14.000 12.000 10.000 8.000 6.000 4.000 2.000 0 February March April May June July August

Case 3 : Bassano del Grappa, Italy Annual yield 2011 2012 83.000 82.000 81.000 81.329 kwh 80.000 79.000 78.000 77.000 76.000 75.000 75.341 kwh 74.000 kwh Simulation 2011 2012 Yield 2011 2012

Case 4: Caceres, Spain System information Site: Caceres (Spain) Type of installation: Ground mounted Peak Power System: 1.943 kwp Azimuth: 0ᵒ Tilt: 30ᵒ Inverter Number / Type: 16 / Siemens Sinvert 100M Modules Number / Type per inverter: 528/CS6P 230P Commissioning Date: April, 2010

Case 4: Caceres, Spain Monthly yield 2011 2012 (kwh) 350.000 Simulation 2011 2012 Yield 2011 2012 300.000 250.000 200.000 150.000 100.000 50.000 0

Case 4: Caceres, Spain Annual Irradiation 2010 2011 / 2011 2012 (kw) Radiation 2010 2011 Radiation 2011 2012 300 250 200 150 100 50 0

Case 4: Caceres, Spain Annual yield 2011 2012 3.040.000 3.020.000 3.022.614 kwh 3.000.000 2.980.000 2.960.000 2.940.000 2.931.557 kwh 2.920.000 2.900.000 kwh Simulation 2011 2012 Yield 2011 2012

Case 5: Galliera Veneta, Italy System information Site: Type of installation: Peak Power System: Azimuth: Tilt: Inverter Number / Type: Galliera Veneta (Italy) Roof Top 49,82 kwp 79ᵒ 15ᵒ 1 / LTI MVM 450 047 TT 1 / LTI MVM 450 100 TT Modules Number / Type per inverter: 247/CS6P 225P 494/CS6P 235P Commissioning Date: April, 2011

Case 5: Galliera Veneta, Italy Monthly yield 2011 2012 (kwh) 30.000 Simulation 2011 2012 Yield 2011 2012 25.000 20.000 15.000 10.000 5.000 0

Case 5: Galliera Veneta, Italy Annual yield 2011 2012 195.000 190.000 191.297 kwh 185.000 180.000 175.000 176.124 kwh 170.000 kwh Simulation 2011 2012 Yield 2011 2012

Case 6: Cadolzburg, Germany System information Site: Cadolzburg (Germany) Type of installation: Roof Top Peak Power System: 10,88 kwp Azimuth: 0ᵒ Tilt: 38ᵒ Inverter Number / Type: 1/Power One PVI 10.0 OUTD Modules Number / Type per inverter: 16/CS6A 170P Commissioning Date: January, 2010

Case 6: Cadolzburg, Germany Monthly yield 2010 2011 / 2011 2012 Simulation 2010 2011 Yield 2010 2011 Yield 2011 2012 (kwh) 2.000 1.800 1.600 1.400 1.200 1.000 800 600 400 200 0

Case 6: Cadolzburg, Germany Annual yield 2010 2011 / 2011 2012 11.800 11.600 11.400 11.462 kwh 11.200 11.000 10.800 10.814 kwh 10.600 10.570 kwh 10.400 kwh Simulation 2010 2011 Yield 2011 2012 Yield 2010 2011

Case 7: Collesecco, Italy System information Site: Type of installation: Peak Power System: Azimuth: Tilt: Inverter Number / Type: Collesecco (Italy) Ground mounted 551,72 kwp 0ᵒ 27ᵒ 1 / Power One PVI 220 TL 1 / Power One PVI 275 TL 30/CS6A 180P 29/CS6A 170P Modules Number / Type per inverter: 29/CS5P 240M 13/CS6A 185P Commissioning Date: April, 2011

Case 7: Collesecco, Italy Monthly yield 2011 2012 (kwh) 100.000 Simulation 2011 2012 Yield 2011 2012 90.000 80.000 70.000 60.000 50.000 40.000 30.000 20.000 10.000 0 January February March April May June

Case 7: Collesecco, Italy Annual yield 2011 2012 460.000 450.000 446.784 kwh 440.000 430.000 420.000 410.000 400.000 400.886 kwh 390.000 kwh Simulation 2011 2012 Yield 2011 2012

Case 8: Oristano, Italy System information Site: Type of installation: Peak Power System: Azimuth: Tilt: Inverter Number / Type: Oristano (Italy) Roof Top 10.631,525 kwp 0ᵒ 0ᵒ 6 / Power One PVI 330 TL 950/CS6P 230M 903/CS6P 235M 1287/CS6P 240M Modules Number / Type per inverter: 1100/CS6P 240M 1287/CS6P 240M 1200/CS6P 235P Commissioning Date: July, 2011

Case 8: Oristano, Italy Monthly yield 2011 2012 (kwh) 350.000 Simulation 2011 2012 Yield 2011 2012 300.000 250.000 200.000 150.000 100.000 50.000 0 January February March April May June

Case 8: Oristano, Italy Annual yield 2011 2012 1.165.000 1.161.537 kwh 1.160.000 1.155.000 1.150.000 1.145.000 1.143.282 kwh 1.140.000 kwh Simulation 2011 2012 Yield 2011 2012

Case 9: San Liberato, Italy System information Site: Type of installation: Peak Power System: Azimuth: Tilt: Inverter Number / Type: San Liberato (Italy) Ground Mounted 996,025 kwp 0ᵒ 27ᵒ 3 / Power One PVI 330 TL 1320/CS6P 245M Modules Number / Type per inverter: 1584/CS6P 240M 1320/CS6P 245M Commissioning Date: February, 2011

Case 9: San Liberato, Italy Monthly yield 2011 2012 (kwh) 180.000 Simulation 2011 2012 Yield 2011 2012 160.000 140.000 120.000 100.000 80.000 60.000 40.000 20.000 0 January February March April May June

Case 9: San Liberato, Italy Annual yield 2011 2012 780.000 770.000 769.600 kwh 760.000 750.000 740.000 730.000 720.000 720.869 kwh 710.000 kwh Simulation 2011 2012 Yield 2011 2012

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Thank You! Canadian Solar EMEA GmbH Landsbergerstr. 94 80339 München Germany Phone: +49 (0) 89 51 996 89 0 www.canadiansolar.com QUALITY VALUE INNOVATION December 2012