The Tailem Bend 3 project will strengthen grid stability in South Australia and further support renewable energy integration, building on Vena Energy's previous developments in the region.

Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), will deliver 408 MWh AC Battery Energy Storage System (BESS) to Vena Energy for its Tailem Bend 3 project in South Australia.

Working alongside Vena Energy and Balance of Plant partner Consolidated Power Projects Australia Pty Ltd (CPP), e-STORAGE will deliver the 204 MW / 408 MWh AC Tailem Bend 3 BESS as a turnkey EPC solution using nearly 100 SolBank 3.0 battery containers. The project, located in Tailem Bend, South Australia, is under construction and is targeted to begin operation in 2027. Under an initial 5-year Long Term Service Agreement (LTSA), e-STORAGE will also be responsible for battery energy storage system maintenance.

The Tailem Bend 3 project will strengthen grid stability in South Australia and further support renewable energy integration, building on Vena Energy's previous developments in the region.

Owen Sela, Head of Australia at Vena Energy, said, "The Tailem Bend 3 BESS will be Vena Energy's third energy storage project in Australia, underscoring our continued expansion of grid-supporting storage across the region. The project represents a significant milestone in Vena Energy's growth strategy and a major expansion of our energy storage capabilities. This 408 MWh system adds substantial storage capacity that will support South Australia's world-leading renewable energy adoption, while aligning with our commitment to developing utility-scale renewable energy and storage assets that contribute to Australia's clean energy transition."

Colin Parkin, President of e-STORAGE, added, "The Tailem Bend 3 project marks the fourth battery energy storage system e-STORAGE is delivering in Australia. With this addition, our Australian footprint now totals approximately 2 GWh, including projects delivered and currently under construction. We are pleased to support South Australia's energy transition by delivering a reliable, utility-scale storage system that enables greater renewable integration and long-term grid resilience."

About Canadian Solar Inc.

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 170 GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE, Canadian Solar has shipped over 16 GWh of battery energy storage solutions to global markets as of September 30, 2025, boasting a $3.1 billion contracted backlog as of October 31, 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 25 GWp of solar and 81 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.

About e-STORAGE

e-STORAGE is a subsidiary of Canadian Solar and a leading company specializing in designing, manufacturing, and integrating battery energy storage systems for utility-scale applications. e-STORAGE offers proprietary battery energy storage solutions, comprehensive EPC services, and innovative solutions aimed at improving grid operations. Currently, e-STORAGE operates fully automated, state-of-the-art manufacturing facilities with an annual battery energy storage system capacity of 15 GWh and battery cell capacity of 3 GWh, on a single-shift and double-shift annualized basis, respectively. For more info, please refer to the Media&PR section of www.csestorage.com and follow our LinkedIn page.

About Vena Energy

Part of Vena Group, Vena Energy is a leading green energy solutions provider in the Asia Pacific region and is accelerating the transition to sustainable and affordable renewable energy that delivers lasting economic, social, and environmental benefits to our host communities and stakeholders.

We provide green energy and digital solutions to our customers, which are powered by a renewable energy portfolio of Onshore Wind, Solar, and Offshore Wind projects totaling 38GW[1] and a green infrastructure pipeline including 25GWh of BESS[2], 2.2GWIT of Data Centers, and 848 KTPA of Green Hydrogen and Ammonia.

With an extensive local presence of over 1,000 employees across 80 corporate and site offices globally, Vena is committed to advancing the adoption of low-carbon energy, contributing to global climate goals, and shaping a greener future. For more information, please visit www.venaenergy.com.

[1] as of 31 December 2024. [2] Includes 0.2GWh BESS OCC portfolio