The record high P5 cell efficiency was tested and certified by Fraunhofer ISE of Germany in April 2019.

Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that the Company has set a world record of 22.28% conversion efficiency for its p-type multi-crystalline P5 cell. The record high P5 cell efficiency was tested and certified by Fraunhofer ISE of Germany in April 2019.

Canadian Solar has been developing its P5 (casted mono) technology and products for the past few years. The 22.28% record cell was fabricated by utilizing 157mmx157mm P5 multi-crystalline wafers and other production-ready technologies such as selective emitter, silicon oxide passivation, multi-layer anti-reflection coating, aluminum oxide backside passivation, and advanced metallization. In addition, the MCCE (or Metal Catalyzed Chemical Etch) black silicon technology, originally developed by Canadian Solar, was also employed.

Dr. Shawn Qu, chairman and CEO of Canadian Solar Inc. said, "We are pleased to see Canadian Solar P5 technology set a new world record. This shows that our multi-crystalline technology can achieve higher efficiencies while still enjoy the cost advantage. We will continue to expand our technology pipeline and provide our customers with the most LCOE-competitive products."

About Canadian Solar Inc.
Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 18 years, Canadian Solar has successfully delivered over 32 GW of premium quality modules to over 150 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.