Investor Presentation

Anticipated Acceleration in Canadian Solar Canada announced investment tax credits (ITCs) of up to 30% for renewable energy technologies in the 2023 federal budget, as announced by finance minister Chrystia Freeland announced in the government's Fall Economic Statement. • • • Canada is aiming to close the competitive gap with U.S. companies, following the introduction of U.S. President Joe Biden's Inflation Reduction Act (IRA) in 2022. The ITCs are expected to be available in 2023 and will be phased-out from 2032. Canada is also expected to launch a new growth fund later this year, as first outlined in April 2022, to attract "billions of dollars" of private sector investments in low carbon solutions, according to Freeland. Solar Alliance expects that this favourable backdrop will lead to a material acceleration of demand for both commercial/industrial and community solar, as occurred in the U.S. following the introduction of the IRA. Given this backdrop, Solar Alliance is pursuing commercial solar opportunities in Canada. "We will make it more attractive for businesses to invest in Canada to produce the energy that will power a net-zero global economy" - Canadian Finance minister Chrystia Freeland TSX-V: SOLR Solar Alliance | 17

View entire presentation