COMPANY PROFILE EMEA November 2020 NASDAQ: CSIQ Dr. Shawn Qu Chairman & Chief Executive Officer Yan Zhuang President & Chief Operating Officer Susanne Pflug General Manager & President MSS, EMEA Our Mission Lead solar into every household; create a better and cleaner earth for future generations The nearly 13,000 dedicated employees of Canadian Solar (NASDAQ: CSIQ) strive each day to make this vision a reality. • Canadian Solar has successfully delivered over 46 GW of premium quality modules to customers in over 150 countries around the world, giving us a truly global reach. • Our wafers, cells, and modules combine superior quality with market-leading cost structures. • Our solar projects consistently achieve the highest production values and returns on investment. • We currently have a total project backlog and pipeline of 15.1 GWp, of which the project backlog totaled 4.2 GWp. • Customers choose Canadian Solar because we deliver the best possible value. Company Overview – CSI Global FOUNDED 2001 IN ONTARIO > 46 GW OF SOLAR MODULES SHIPPED OVER 13,000 EMPLOYEES 15.1 GW PROJECT PIPELINE A GLOBAL TOP 3 SOLAR COMPANY BY REVENUE AND NET INCOME IN 2019 Canadian Solar Inc. 2019 REVENUE: $3.2 BILLION 2020 REVENUE GUIDANCE ~ $3.4 - $3.9 BILLION 4 Company Overview – CSI Global Canadian Solar Inc. MSS - Module & System Solutions A global Top 3 solar company by revenue and net income in 2019 CSI’s bankability rating topped #1 by Bloomberg New Energy Finance Turnkey Solutions Energy Group Your Partner for complete turnkey solutions One of the biggest global solar PV Developers Entire project life cycle feasibility study, permitting, engineering, procurement, construction and maintenance. Utility size solar project development, construction, operation and maintenance services Solar module design, manufacturing, sales, and system integration services Canadian Solar Inc. 5 Overview EMEA – Europe, Middle East & Africa EMEA HQ IN MUNICH Canadian Solar Inc. 5 OFFICES 4 WAREHOUSES IN EMEA Global Local OVER 80 EMPLOYEES 30 NATIONALITIES NO. 1 MODULE SUPPLIER IN MEA* NO. 2 MODULE SUPPLIER IN EMEA* NO. 1 BiFACIAL MODULE SUPPLIER GLOBALLY** EMEA TEAM REALIZING SHIPMENTS TO OVER 60 COUNTRIES IN 2019 EXTENSIVE EXPERIENCE AND EXPERTISE ACROSS ALL FUNCTIONS * based on IHS Suppliers Tracker 2017-2019, Bifacial Tracker FY 2019 * * based on IHS Bifacial PV Module Market Report March 2020 6 Company Facts Canadian Solar has been making the difference for 19 years. By bringing a total of more than 46 GW of solar capacity to our customers worldwide. Canadian Solar Inc. 7 Business Model Overview TOTAL MODULE SHIPMENTS (MW) ~11.500 8,600 6,828 4,706 6,615 5,232 3,105 15 83 168 310 2006 2007 2008 2009 Canadian Solar Inc. 803 2010 1,323 2011 1,543 2012 1,894 2013 2014 2015 2016 2017 2018 2019 2020E 8 Quality and Service Robust construction in accordance with the highest quality standards gives our solar panels outstanding longevity. Canadian Solar Inc. 9 Investments into the Future R&D Activities Canadian Solar holds more than 1,500 patents and is among the first solar PV manufacturers to mass produce: • Black silicon and diamond wire saw (DWS) poly wafers • 5 busbar (5BB) and multi-busbar cells (MBB) • Half-cut cells • Large 166 mm wafers • Double glass and bifacial modules In the past 3 years more than 100USDmn have been invested in Research and Development expenditures R&D investments have increased by > 60% Canadian Solar received by far the largest number of patents in cell and module technologies in 2019 R&D Expenses in USDmn Number of Newly Granted Patents, 2019 421 295 199 44 47 29 Canadian Solar Inc. FY 17 FY 18 FY 19 95 56 45 33 other Tier 1 competitors 21 21 10 Financial Strength One of the most bankable solar companies worldwide, continuously listed on Bloomberg Tier 1 manufacturer list. Canadian Solar Inc. 11 World-Leading Bankable Brand No. 1 Bankable Module Supplier, Bloomberg PV Module and Inverter Bankability 2020 Survey – top bankable module supplier with 100% bankability for 3 consecutive years BloombergNEF's PV module bankability survey results, top 15 Top 15 PV module brands used in term-loan financed projects after July 1, 2018 MW 1,951 1,944 1,694 1,415 1,101 1,091 968 845 780 577 522 497 426 413 2,474 0% 20% Bankable Canadian Solar Inc. 40% Not bankable 60% 80% 100% Never heard of Source: Bloomberg New Energy Finance 2020 Module Bankability Survey. Survey results are used by financial institutions across the world for credit analysis. Respondents include banks, funds, EPC contractors, independent power providers (IPPs) and technical advisors. 12 Financial Strength • Constant growth of double-digit gross margin in the past 4 years • Highest Cash&Cash equivalent positions among peers (1,195 mnUSD) CSIQ Total Cash & Cash Equivalents - 2019 Revenue in USDmn Cash in USDmn 25.1% 20.7% 18.8% 14.6% 3,390 3,745 3,201 2,850 2016 2017 Revenues 2018 2019 886 1Q 19 964 1,041 2Q 19 3Q 19 1,195 4Q 19 Gross Margin CSIQ surpassed the 1USDbn Cash threshold! Canadian Solar Inc. 13 Our Products We manufacture and market solar panels for all applications: residential, small commercial, large commercial, utilityscale, and off-grid. Canadian Solar Inc. 14 Technology-Agnostic Cell and Module Manufacturing Capacity • Our cell capacity is convertible to produce mono or poly, with low or no additional capex requirements • CSI’s global module capacity has grown more than 23% YoY Manufacturing Capacity - Year End 2020 Module 16 GW Cell 10 GW Wafer 5 GW Ingot 1.9 GW 0.0% 6 GW 5 GW 3.1 GW 20.0% 40.0% Internally Manufactured Capacity Canadian Solar Inc. 60.0% 80.0% 100.0% Externally Manufactured Capacity 15 Overview – Monofacial Modules KuBlack KuPower KuMax 12 25 HiKuBlack HiKu HiKu5 Ku5 LINEAR POWER OUTPUT WARRANTY *Glass-Glass PRODUCT WARRANTY ON MATERIALS AND WORKMANSHIP *HiDM HiKu6 HiDM-Black HiDM KuDymond HiKu7 Glass-Glass Shingled 12 25 12 25 12 25 12 25 12 25 12 30 15 25 CS3K-MS All-Black CS3K-P / CS3K-MS CS3U-P / CS3U-MS CS3L-MS All-Black CS3L-P / CS3L-MS CS3N-MS CS3W-P / CS3W-MS CS3S-MS CS3Y-P CS3Y-MS CS6W-MS CS7L-MS CS7N-MS CS3K-P-AG /CS3K-MS-AG CS1H-MS All-Black CS3U-P-AG / CS3U-MS-AG CS1H-MS CS1W-MS All-Black Highlight: High power classes combined with high versatility Highlight: Enhanced wafer technology for higher power classes Highlight: High efficiency and output power. Suitable for all commercial & industrial roofs, and any utility-scale project Highlight: High-power classes and efficiency, suitable for utilityscale systems and industrial roofs Highlight: High power up to 545W, especially suited for utility-scale projects Highlight: Module power up to 665 W Module efficiency up to 21.4%, especially suited for utility-scale projects Highlight: Robust Framed glass-glass modules with high power classes for large scale systems Highlight: High power density modules with enhanced aestetics appearance Cells: 156mm half-cut poly- and mono-PERC Cells: 166mm half-cut poly- and mono-PERC Cells: 158 mm half-cut mono-PERC Cells: 166mm half-cut poly- and mono-PERC Cells: 182mm half-cut mono-PERC Cells: 210mm half-cut mono-PERC Cells: 156mm half-cut poly- and mono-PERC Cells: 158mm monoPERC shingled Mono-PERC: up to 400 W Mono-PERC: up to 455 W Mono-PERC: up to 450 W Mono-PERC: up to 500 W Mono-PERC: up to 545 W Mono-PERC: up to 665 W Poly-PERC: up to 375 W Poly-PERC: up to 440 W Canadian Solar Inc. Poly-PERC: up to 485 W Mono-PERC: up to 400 W Mono-PERC: up to 380 W Poly-PERC: up to 370 W 16 Overview – Bifacial Modules BiHiKu BiKu 12 30 BiHiKu5 Glass-Glass Glass-Glass 12 30 LINEAR POWER OUTPUT WARRANTY PRODUCT WARRANTY ON MATERIALS AND WORKMANSHIP BiHiKu6 Glass-Glass 12 30 BiHiKu7 Glass-Glass 12 30 Glass-Glass 12 30 CS3K-PB-AG / CS3K-MB-AG CS3U-PB-AG / CS3U-MB-AG CS3W-PB-AG CS3W-MB-AG CS3Y-PB-AG CS3Y-MB-AG CS6W-MB-AG CS7L-MB-AG CS7N-MB-AG Highlight: Framed Bifacial modules increase system power generation and reduce LCOE costs Highlight: Framed bifacial module with enhanced wafer technology for optimal LCOE at utility-scale level Highlight: Framed bifacial module that maximizes use of mounting system in utility-scale projects Highlight: Framed bifacial modules of highest nominal power over 585W. Designed for utility-scale projects Highlight: Framed bifacial module power up to 655 W Module efficiency up to 21.1% Cells: 156mm bifacial half-cut poly- and mono-PERC Cells: 166mm bifacial half-cut poly- and mono-PERC Cells: 166mm bifacial half-cut poly- and mono-PERC Cells: 182mm bifacial half-cut mono-PERC Cells: 210mm bifacial half-cut mono-PERC Mono-PERC: up to 400 W Mono-PERC: up to 445 W Mono-PERC: up to 490 W Mono-PERC: up to 585 W Mono-PERC: up to 655 W Poly-PERC: up to 365 W Poly-PERC: up to 440 W Poly-PERC: up to 475 W Canadian Solar Inc. 17 Overview – Inverters STANDARD WARRANTY *extension up to 20 years CSI-25-40K-T400-GL02-E CSI-50KTL-GI CSI-80K-T400-GL02-E Nominal Power: 25/30/33/36/40kW Nominal Power: 50kW Nominal Power: 80kW Nominal Power: 100/110kW Key-Features: Key-Features: Key-Features: Key-Features: Fuseless design High switching frequency and ultra fast MPPT (<5 sec.) for max. efficiency Fuseless design 13A input/string, 26A/MPPT Integrated DC Switches Smart String monitoring & IV curve diagnosis DC/AC ratio up to 1,5 Fuseless design 13A input/string, 26A/MPPT Integrated DC Switches Smart string monitoring & IV curve diagnosis DC/AC ratio up to 1,5 3 MPPTs (25/30/33kW) 4 MPPTs (36/40kW) Fuseless design 13A input/string, 26A/MPPT Smart String monitoring & IV curve diagnosis DC/AC ratio up to 1,5 Canadian Solar Inc. 4 MPPTs DC/AC ratio up to 1,2 9 MPPTs CSI-100-110K -T400-GL02-E/ZA 10 MPPTs 18 System Solutions Provider CANADIAN SOLAR OFFERS ALL BALANCE OF SYSTEM COMPONENTS, ENABLING US TO SERVE YOU AS A ONE-STOP SHOP. As a single source for modules, inverters, and more, Canadian Solar simplifies your procurement process with a unified contract, credit process, and invoice, as well as coordinated logistics and warranty, all from a supplier that understands and innovates solar. Canadian Solar Inc. INVERTERS Canadian Solar’s grid-tied, transformerless string inverters are an optimal solution for commercial rooftop and small to medium ground-mount applications. Furthermore, they are a cost-effective alternative to central inverters. Thanks to their modularity, string inverters allow designing power blocks and enable significant BoS cost savings. • Power classes available: 25 kWp, 30 kWp, • • • 33 kWp, 36 kWp, 40 kWp, 50 kWp, 80kWp, 100kWp, 110kWp Peak efficiency up to 99 % Serviced locally by our partners Enable significant BoS cost savings …………………….….……..…..…….………………..….. Canadian Solar Operations and Maintenance services are designed to maximize the lifetime value of your solar power plant assets. Leveraging our 19 years of solar industry experience and over 1.4 GW under O&M operations worldwide, Canadian Solar proactively monitors and manages your plants minimizing downtime and increasing site availability, resulting in maximum energy production, revenues and profitability. Customized service packages offer the right fit for any solar power plant owner. …………………….….……..…..…….………………….… O&M SERVICES T4 PV CONNECTORS The new Canadian Solar T4-PC-1 PV connector is a high-quality field-installable PV connector-type for IEC/UL 1.000V and 1.500V. It is P68 water- and dust-proof rated and can be used in a wide operating temperature range from -40 °C to 90 °C. • Suitable for 4 / 6 mm² and 10 / 12 AWG • • cables Field toolkit, disconnect tool and jumper cables are available T4-PC-1 is the standard connector on Canadian Solar modules 19 Europe & Middle East MUNICH, GERMANY MSS EMEA HQ MADRID, SPAIN Subsidiary EMEA WAREHOUSES SALES OFFICES DDP DELIVERIES POSSIBLE IN THESE COUNTRIES DAP DELIVERIES POSSIBLE IN THESE COUNTRIES MILANO, ITALY Energy Group Subsidiary DUBAI, UAE Subsidiary Canadian Solar Inc. 20 Africa EMEA WAREHOUSES SALES OFFICES DDP DELIVERIES POSSIBLE IN THESE COUNTRIES DAP DELIVERIES POSSIBLE IN THESE COUNTRIES CAPETOWN, ZAF Subsidiary Canadian Solar Inc. 21 Global Reach with Emea Logistics Warehouse Location AVERAGE DELIVERY TIME Rotterdam, NL, Europe Average 3 days Durban, South Africa Average 3 days Cape Town, South Africa Average 3 days Dubai, U.A.E. Average 3 days Canadian Solar Inc. 22 THANK YOU! [email protected] Canadian Solar Inc. 23
