Manufacturers

Canadian Solar’s Update on Private Offer From Company CEO

Canadian Solar’s Update on Private Offer From Company CEO

GUELPH, Ontario — Canadian Solar Inc. announced that the Special Committee formed by the board of directors of the Company and its financial and legal advisors continue to assess the “going-private” transaction proposed by Dr. Qu in his December 9, 2017 letter to the Board.

Dr. Qu has engaged financial advisors and is in discussions with potential equity partners and debt financing sources. The Company has entered into confidentiality and standstill agreements with Dr. Qu and several potential equity partners and provided them with access to information about the Company. The Special Committee has given Dr. Qu and the potential equity partners until the end of September to complete their due diligence on the Company.

The Board cautions shareholders and others considering trading in the Company’s securities that the Special Committee and the Board have not made any decision with respect to the Company’s response to the Proposed Transaction. The Board also cautions that there can be no assurance that any definitive offer relating to the Proposed Transaction or any other transaction will be made by Dr. Qu or any other person, that any definitive agreement with respect to the Proposed Transaction or any other transaction will be entered into or that the Proposed Transaction or any other transaction will be approved or completed.

The Company does not undertake any obligation to provide any further updates with respect to the Proposed Transaction or any other transaction except as required by applicable law.

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