Additional Information—Financial Statement Schedule I
Canadian Solar Inc.

Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 4-08(e)(3) of Regulation S-X, which require condensed financial information as to financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented as the restricted net assets of Canadian Solar Inc.'s consolidated and unconsolidated subsidiaries not available for distribution to Canadian Solar Inc. as of December 31, 2014 of $393,532,526, exceeded the 25% threshold.

The condensed financial information has been prepared using the same accounting policies as set out in the consolidated financial statements, except that the equity method has been used to account for investments in subsidiaries.

FINANCIAL INFORMATION OF PARENT COMPANY

BALANCE SHEETS

	December 31, 2013			December 31, 2014
	(In U.S. dollars, except share and per share data)
ASSETS
Current assets:
Cash and cash equivalents		29,585,498			3,454,972
Accounts receivable trade, net of allowance for doubtful accounts of $5,209,909 and $4,302,411 at December 31, 2013 and 2014, respectively		351,207			4,005,689
Inventories		156,179			442,606
Amounts due from related parties—current		128,261,643			252,569,838
Advances to suppliers, net		—			1,991,396
Prepaid expenses and other current assets		2,240,692			5,852,442

Total current assets		160,595,219			268,316,943
Investment in subsidiaries		252,177,589			534,848,697
Deferred tax assets, net		4,863,395			3,655,138
Amount due from related parties—non-current		150,000,000			150,000,000
Other non-current assets		28,491,395			48,219,119

TOTAL ASSETS		596,127,598			1,005,039,897


LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings		12,246,050			—
Accounts payable		13,127			4,560
Amounts due to related parties		141,139,539			99,011,445
Other current liabilities		3,936,495			6,824,785

Total current liabilities		157,335,211			105,840,790
Accrued warranty costs		18,188,694			18,272,826
Convertible notes		—			150,000,000
Long-term borrowings		16,393,089			—
Liability for uncertain tax positions		13,681,821			14,315,282
TOTAL LIABILITIES		205,598,815			288,428,898

Equity:
Common shares—no par value: unlimited authorized shares, 51,034,343 and 55,161,856 shares issued and outstanding at December 31, 2013 and 2014, respectively		561,241,785			675,236,489
Additional paid-in capital		(32,121,269	)		(25,682,022	)
Retained earnings (Accumulated deficit)		(192,502,847	)		46,998,469
Accumulated other comprehensive income		53,911,114			20,058,063

TOTAL EQUITY		390,528,783			716,610,999

TOTAL LIABILITIES AND EQUITY		596,127,598			1,005,039,897

FINANCIAL INFORMATION OF PARENT COMPANY

STATEMENTS OF OPERATIONS

	Years Ended December 31
	2012			2013			2014
	(In U.S. dollars)
Net revenues		111,414,327			11,802,218			15,899,641
Cost of revenues		80,190,744			5,282,597			4,401,056

Gross profit		31,223,583			6,519,621			11,498,585

Operating expenses:
Selling expenses		3,649,131			3,520,618			3,999,535
General and administrative expenses		11,955,578			5,724,288			8,331,139
Research and development expenses		764,145			714,980			415,857

Total operating expenses		16,368,854			9,959,886			12,746,531

Income (loss) from operations		14,854,729			(3,440,265	)		(1,247,946	)

Other income (expenses):
Interest expense		(255,502	)		—			(6,328,588	)
Interest income		1,559,207			12,021,534			10,369,290
Foreign exchange loss		(622,816	)		(8,454,989	)		(5,335,145	)
Others		—			427,560			47,092

Other income (expenses), net:		680,889			3,994,105			(1,247,351	)

Profit (loss) before income taxes and equity in earnings (loss) of subsidiaries and unconsolidated investees		15,535,618			553,840			(2,495,297	)
Income tax expense		(7,441,590	)		(1,275,114	)		(1,006,201	)
Equity in earnings (loss) of subsidiaries		(202,699,044	)		35,132,523			243,283,097
Equity in loss of unconsolidated investees		(863,675	)		(2,751,973	)		(280,282	)

Net Income (loss)		(195,468,691	)		31,659,276			239,501,317

FINANCIAL INFORMATION OF PARENT COMPANY

STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Years Ended December 31,
	2012			2013		2014
	(In U.S. dollars)
Net income (loss)		(195,468,691	)		31,659,276		239,501,317
Other comprehensive income (net of tax of nil):
Foreign currency translation adjustment		5,239,819			3,115,584		(33,853,050	)

Comprehensive income (loss) attributable to Canadian Solar Inc.		(190,228,872	)		34,774,860		205,648,267

FINANCIAL INFORMATION OF PARENT COMPANY

STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2012			2013			2014
	(In U.S. dollars)
Operating activities:
Net Income (loss)		(195,468,691	)		31,659,276			239,501,317
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		6,950			5,092			727
Loss on disposal of property, plant and equipment		—			—			3,919
Allowance for doubtful debts		8,369,187			1,872,247			11,434,154
Amortization of discount on debt		49,699			—			—
Equity in (earnings) loss of subsidiaries		202,699,044			(35,132,523	)		(243,283,097	)
Equity in loss of unconsolidated investees		863,675			2,751,973			280,282
Share-based compensation		5,185,242			6,175,006			5,087,925
Changes in operating assets and liabilities:
Inventories		9,840,507			2,827,896			(286,427	)
Accounts receivable trade		(1,317,532	)		627,106			(5,243,925	)
Amounts due from related parties		(121,173,334	)		85,992,946			3,904,909
Advances to suppliers		(293,911	)		(282,804	)		(11,836,107	)
Other current assets		(7,540,414	)		8,311,717			(2,260,429	)
Other non-current assets		(20,387,009	)		6,860,201			(19,727,525	)
Accounts payable		79			9,023			(8,567	)
Advances from customers		(452,417	)		(121,511	)		(656,985	)
Amounts due to related parties		(18,298,349	)		(18,331,820	)		(42,128,094	)
Accrued warranty costs		431,138			(14,644,337	)		84,132
Other current liabilities		(4,255,036	)		(2,558,022	)		3,545,274
Liability for uncertain tax positions		1,975,793			141,795			633,461
Deferred taxes		5,718,014			406,214			1,208,257

Net cash provided by (used in) operating activities		(134,047,365	)		76,569,475			(59,746,799	)

Investing activities:
Decrease (increase) in restricted cash		5,731,365			—			—
Investment in subsidiaries		(13,319,864	)		(10,602,333	)		(39,668,294	)
Purchases of property, plant and equipment		(3,589	)		(266	)		(4,845	)
Payment of borrowings to a related party		—			—			(139,088,104	)
Proceeds from interest receivable		—			—			10,875,000

Net cash used in investing activities		(7,592,088	)		(10,602,599	)		(167,886,243	)

Financing activities:
Proceeds from short-term borrowings		68,000,000			—			—
Repayment of short-term borrowings		—			(55,753,950	)		(12,246,050	)
Proceeds from long-term borrowings		70,063,488			—			—
Repayment of long-term borrowings		—			(53,670,399	)		(16,393,089	)
Payment for repurchase of convertible senior notes		(1,000,000	)		—			—
Proceeds from issuance of warrants		2,500,000			—			—
Proceeds from issuance of common shares offering		—			50,000,000			115,009,200
Issuance costs paid for common shares offering		—			(2,112,623	)		(6,090,340	)
Proceeds from issuance of convertible notes		—			—			150,000,000
Issuance cost paid on convertible notes		—			—			(5,103,441	)
Proceeds from exercise of stock options		158,766			10,792,703			3,342,573

Net cash provided by financing activities		139,722,254			(50,744,269	)		228,518,853

Effect of exchange rate changes		5,239,819			3,115,585			(27,016,337	)

Net increase (decrease) in cash and cash equivalents		3,322,620			18,338,192			(26,130,526	)
Cash and cash equivalents at the beginning of the year		7,924,686			11,247,306			29,585,498
Cash and cash equivalents at the end of the year		11,247,306			29,585,498			3,454,972

Supplemental disclosure of cash flow information:
Interest paid		255,502			—			3,941,758
Income taxes paid		290,813			297,643			735,894