ARLINGTON, Va. and DOHA, Qatar and MUNICH, Dec. 30, 2020 /PRNewswire/ -- Fluence, the leading global energy storage solutions provider, announced today that it has entered into a definitive agreement with the Qatar Investment Authority (QIA) pursuant to which QIA will commit to invest $125 million in Fluence through a private placement transaction. Consummation of the transaction is subject to the satisfaction of customary closing conditions, including regulatory clearances. QIA's investment brings another strong financial partner to The AES Corporation (AES) and Siemens joint venture, further supporting Fluence's mission to transform the way we power our world for a more sustainable future. Fluence intends to use the net proceeds from the private placement to further accelerate development of its product offerings, particularly digital products, and deployment of existing products in more markets globally. AES and Siemens will remain major shareholders, each maintaining an approximately 44 percent stake following the completion of the transaction and will continue to support Fluence's long-term growth.

"We believe the global problem of climate change can only be tackled by leveraging the combined capabilities of technologists and investors from around the world," said Manuel Perez Dubuc, Fluence's Chief Executive Officer. "We see energy storage as the linchpin of a decarbonized grid and adding QIA to our international shareholder base will allow Fluence to innovate even faster and address the enormous global market for large-scale battery-based energy storage."

QIA is one of six founding members of the One Planet Sovereign Wealth Fund Initiative, which is building climate change into financial decision making, and the proposed investment further highlights QIA's growing focus on the development of green technologies. Fluence's mission and technology-driven offering aligns with QIA's investment philosophy and QIA's other recent green technology investments. With countries around the world setting increasingly ambitious targets to cut carbon emissions, Fluence is helping accelerate the adoption of renewables and is allowing utilities and power producers to incorporate renewables at scale. Its innovative technologies provide storage solutions for energy produced by wind farms and other renewable sources – a critical factor in the move towards a low-carbon economy.

"We are proud to partner with Fluence, which is at the forefront of the global drive to provide energy storage solutions," said Mansoor bin Ebrahim Al-Mahmoud, QIA's Chief Executive Officer. "We believe energy storage will play a key role in delivering cleaner, more sustainable and more resilient electric grids around the world. This investment further underpins our commitment to responsible investing for a low-carbon future."

"Energy storage is playing a crucial role in enabling markets and organizations to achieve their goals for a carbon-free energy future," said Andrés Gluski, AES President and Chief Executive Officer. "We are very pleased with Fluence's success and today's announcement is an important milestone toward maintaining Fluence's global leadership in energy storage and achieving its growth potential."

"Energy storage is a key pillar of the energy transition. Siemens has defined this as a significant long-term growth area," said Matthias Rebellius, CEO of Siemens Smart Infrastructure and member of the Managing Board of Siemens AG. "QIA's investment will support Fluence with its successful development in a dynamic market."

The Fluence team has been a driving force in the global energy storage industry for more than a decade, repeatedly opening new markets and pioneering new applications. This summer, the company announced its sixth-generation Tech Stack, comprised of integrated hardware, operating software and digital intelligence engines. Built on 12 years of proprietary operating data from systems in the field, the Tech Stack enables faster deployment of standardized, modular systems, lower balance of system costs, and highly customizable solutions to meet individual customer needs. In October, Fluence announced its acquisition of AMS' AI-driven software and digital intelligence platform for renewables and energy storage, which can significantly improve revenue of energy storage assets in wholesale markets, and plans to accelerate investment in its digital differentiation.

About Fluence
Fluence, a Siemens and AES company, is the global market leader in energy storage technology solutions and services, combining the agility of a technology company with the expertise, vision and financial backing of two well-established and respected industry giants. Building on the pioneering work of AES Energy Storage and Siemens energy storage, the company's goal is to create a more sustainable future by transforming the way we power our world. Providing design, delivery and integration, Fluence offers proven energy storage technology solutions that address the diverse needs and challenges of customers in a rapidly transforming energy landscape. The company currently has approximately 2.4 gigawatts of projects deployed or awarded across 24 countries and territories worldwide. Fluence topped the Navigant Research utility-scale energy storage leaderboard in 2018 and was named one of Fast Company's Most Innovative Companies in 2019. Its sixth-generation Tech Stack won Commercial Technology of the Year at the 22nd annual S&P Global Platts Global Energy Awards. To learn more about Fluence, please visit: fluenceenergy.com

About Qatar Investment Authority (QIA)
Qatar Investment Authority ("QIA") is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar. For more information, please visit www.qia.qa 

About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com

About Siemens
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020. In fiscal 2020, which ended on September 30, 2020, the Siemens Group generated revenue of €57.1 billion and net income of €4.2 billion. As of September 30, 2020, the company had around 293,000 employees worldwide. Further information is available on the Internet at www.siemens.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/fluence-announces-investment-from-qatar-investment-authority-to-accelerate-growth-and-global-deployment-of-grid-scale-energy-storage-technology-301199247.html

SOURCE AES

ARLINGTON, Va., Dec. 9, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) today posted an ESG update presentation to its website.  Interested parties may access the presentation at www.aes.com by selecting "Investors" and then "Presentations and Webcasts."

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy.  Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs.  Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.  For more information, visit www.aes.com.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company's website at www.aes.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-posts-esg-update-presentation-301188937.html

SOURCE AES CORP.

ARLINGTON, Va., Dec. 7, 2020 /PRNewswire/ -- The Board of Directors of The AES Corporation (NYSE: AES) approved an increase of 5% in the Company's quarterly common stock dividend, from $0.1433 per share to $0.1505 per share, beginning in the first quarter of 2021. 

The Company's first quarter 2021 common stock dividend of $0.1505 per share is payable on February 12, 2021 to shareholders of record at the close of business on January 29, 2021.  Additional information regarding dividends paid by AES, including tax treatment, can be found on www.aes.com by selecting "Investors" and then "Stock Information."

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy.  Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs.  Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.  For more information, visit www.aes.com.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company's website at www.aes.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-announces-5-increase-in-quarterly-dividend-301187691.html

SOURCE AES CORP.

ARLINGTON, Va., Dec. 4, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) ("AES" or the "Company") announced today the early tender results of its previously announced offers to purchase (the "Tender Offers" and each, a "Tender Offer") for cash, subject to certain terms and conditions, any and all of its of its outstanding 5.500% senior notes due 2025, 6.000% senior notes due 2026, and 5.125% senior notes due 2027 (collectively, the "Securities").

In conjunction with the Tender Offers, the Company also commenced solicitations of consents (the "Consent Solicitations") to amend each series of Securities and the related supplemental indentures under which they were issued to eliminate substantially all of the restrictive covenants and events of default, and to shorten the minimum notice requirements for optional redemption with respect to the Securities from thirty days to three business days. The Tender Offers and Consent Solicitations (collectively, the "Offers") are being made pursuant to the Company's Offer to Purchase and Consent Solicitation Statement (the "Offer to Purchase"), dated November 19, 2020, which set forth a more detailed description of the terms of the Offers. The Tender Offers will expire at 11:59 p.m., New York City time, on December 17, 2020, unless extended or earlier terminated by AES (as the same may be extended, the "Expiration Date").

According to information received from Global Bondholder Services Corporation ("GBSC"), the Depositary and Information Agent for the Offers, as of 5:00 p.m., New York City time, on December 3, 2020 (the "Early Tender Date"), the Company had received valid tenders and related consents from Holders of the Securities as outlined in the table below.

The Early Settlement Date for Securities tendered at or prior to the Early Tender Date and accepted for purchase is expected to occur on December 7, 2020, but may change at AES' option and is subject to all conditions to the Tender Offers having been satisfied or waived by AES.  Holders that tendered Securities at or prior to the Early Tender Date and whose Securities are accepted for payment will be entitled to receive the Total Consideration, which includes the Early Tender Premium, plus accrued and unpaid interest up to, but not including, the Settlement Date. Holders who validly tender their Securities after the Early Tender Date but at or prior to the Expiration Date will be entitled to receive only the tender offer consideration equal to the Total Consideration less the Early Tender Premium (the "Tender Offer Consideration"), plus accrued and unpaid interest up to, but not including, the Final Settlement Date, if and when such Securities are accepted for payment.

The Company's Consent Solicitations sought consents from holders of each series of the Securities to amend each series of Securities and the related supplemental indentures under which they were issued to eliminate substantially all of the restrictive covenants and events of default in the indentures governing the Securities, and to shorten the minimum notice requirements for optional redemption with respect to the Securities from thirty days to three business days (the "Proposed Amendments"). Adoption of the Proposed Amendments required the consent of a majority of the aggregate principal amount outstanding of each series of Securities (the "Requisite Consents"). As of the Early Tender Date, the Company had received the Requisite Consents from holders of each series of the Securities. As a result of receiving the Requisite Consents, the Company expects to promptly enter into a supplemental indenture, effecting the Proposed Amendments, which is binding on all remaining holders of each series of the Securities.

Closing of the Offers is subject to the conditions described in the Offer to Purchase. However, the Financing Condition described in the Offer to Purchase was satisfied on December 4, 2020, upon AES' consummation of the New Financing in the form of long-term senior debt securities in an aggregate principal amount of $1.8 billion. Full details of the terms and conditions of the Offers are set out in the Offer to Purchase, which are available from Global Bondholder Services Corporation.  AES may amend, extend or, subject to applicable law, terminate the Offers at any time.

AES has retained BofA Securities Inc. to serve as the Dealer Manager and Solicitation Agent for the Offers. Global Bondholder Services Corporation has been retained to serve as the Information and Depositary Agent for the Tender Offers. Questions regarding the Tender Offers may be directed to BofA Securities Inc. at Attn: Debt Advisory, 620 South Tryon Street, 20th Floor Charlotte, NC 28255, All Call: (980) 387-3907. Email: debt_advisory@bofa.com. Requests for the Offer to Purchase may be directed to Global Bondholder Services Corporation at 65 Broadway – Suite 404, New York, New York 10006, Attn: Corporate Actions, (212) 430-3774 (for banks and brokers) or (866) 470-4200 (for all others).

AES is making the Offers only by, and pursuant to, the terms of the Offer to Purchase. None of AES, the Dealer Manager and Solicitation Agent, the Information Agent and Tender Agent make any recommendation as to whether Holders should tender or refrain from tendering their Securities. Holders must make their own decision as to whether to tender Securities and, if so, the principal amount of the Securities to tender.  The Offers are not being made to holders of Securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.  In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to be made on behalf of AES by the Dealer Manager and Solicitation Agent, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

This press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any new securities, including in connection with the New Debt Financing, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful.  Capitalized terms used in this press release but not otherwise defined herein have the meanings assigned to them in the Offer to Purchase.  

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions.

Actual results could differ materially from those projected in AES' forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the Offer Materials related to the Offer and in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of AES' 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting AES' website at www.aes.com. 

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-announces-early-results-of-tender-offers-and-consent-solicitations-for-any-and-all-of-its-outstanding-5-500-senior-notes-due-2025--6-000-senior-notes-due-2026--and-5-125-senior-notes-due-2027--301186273.html

SOURCE The AES Corporation

DAYTON, Ohio, Nov. 25, 2020 /PRNewswire/ -- Dayton Power & Light Company (DP&L), a subsidiary of the AES Corporation (NYSE:AES), announced its improvements to continue long-term reliability for its customers in DP&L's 24-county service territory. DP&L's service to customers will improve, while rates will remain the lowest in Ohio among investor-owned utilities.

DP&L's investments in its distribution infrastructure have been designed to ensure reliability and to rebuild areas of our service territory damaged in the Memorial Day tornadoes in 2019. DP&L is also proposing programs to allow customers greater control of their energy usage and to reduce costs. On November 30, 2020, DP&L will file an application with the Public Utilities Commission of Ohio (PUCO) to update rates for delivering electric service to customers.

"DP&L cares about our customers and understands the challenges caused by the COVID-19 pandemic, and we continue to offer extended pay options and access to resources such as the Gift of Power. Our investments improve service for our customers, while our rates remain the lowest for electric service in Ohio," said Kristina Lund, president and CEO of DP&L. "With DP&L's investments in improved service and AES' Smart Operations center in Dayton, we continue to support economic growth and technological innovation in Dayton and the surrounding communities."

The PUCO will ultimately decide changes to DP&L's rates. As part of the process, customers will have the opportunity to share their comments through public forums. If DP&L's application is approved by the PUCO, the typical residential customer, using 1,000 kWh on DP&L's Standard Service Offer, can expect a monthly bill adjustment of $11.26. Prior to reversal of regulatory actions in December 2019, this proposed monthly increase would be $3.16, if compared to the prior year.

Commitment to our community and growth

DP&L and the DP&L Foundation continue their longstanding tradition of community investment. From helping our most vulnerable customers to workforce development, to attracting new jobs and retaining businesses, DP&L invests in projects and programs that provide long-term improvements that enrich our communities.

AES, the parent company to DP&L made an investment in Ohio to support job creation and economic growth. Announced earlier this year, the AES Smart Operations Center located in DP&L's MacGregor Park property expects to begin operations in 2021 representing AES' longstanding commitment to the digital transformation of the energy industry, accelerating a safer and cleaner energy future in the United States and globally.

About The Dayton Power and Light Company
The Dayton Power and Light Company is the principal subsidiary of DPL Inc. (DPL), a regional energy provider and an AES company. DPL's primary subsidiaries include The Dayton Power and Light Company. The Dayton Power and Light Company, a regulated electric utility, provides service to over 527,000 customers in West Central Ohio. For more information about the company, please visit www.dpandl.com. Connect with DP&L at www.twitter.com/dpltoday, www.linkedin.com/company/dayton-power-and-light, and at www.facebook.com/DPLToday.

About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com. 

View original content to download multimedia:http://www.prnewswire.com/news-releases/dayton-power-and-light-announces-investments-to-continue-long-term-reliability-301180823.html

SOURCE Dayton Power and Light

ARLINGTON, Va., Nov. 19, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) announced that it has priced $800 million aggregate principal amount of 1.375% senior notes due 2026 (the "2026 Notes") and $1 billion aggregate principal amount of 2.450% senior notes due 2031 (the "2031 Notes" and together with the 2026 Notes, the "New Notes").

AES intends to allocate an amount equal to the net proceeds from this offering to one or more eligible green projects. Pending such allocation, AES intends to use the net proceeds from this offering to fund purchases of any and all of its 5.500% senior notes due 2025 (the "2025 Notes"), 6.000% senior notes due 2026 (the "6.000% 2026 Notes") and 5.125% senior notes due 2027 (the "2027 Notes" and, together with the 2025 Notes and the 6.000% 2026 Notes, the "Tender Offer Notes") in tender offers (the "Tender Offers"), to fully redeem any of the Tender Offer Notes not tendered in connection with the Tender Offers, to fully redeem the $65.0 million aggregate principal amount outstanding of its 4.500% notes due 2023 (the "2023 Notes") and $63.0 million aggregate principal amount of its 5.500% notes due 2024 (the "2024 Notes" and together with the Tender Offer Notes and the 2023 Notes, the "Outstanding Notes"), to pay certain related fees and expenses and for general corporate purposes. This press release does not constitute an offer to purchase or the solicitation of an offer to sell the Outstanding Notes.

In conjunction with the Tender Offers, AES is soliciting consents to the adoption of certain proposed amendments to the indentures governing the Tender Offer Notes to substantially remove all the restrictive covenants and events of default, as well as to alter the notice requirements for optional redemption with respect to each series of Tender Offer Notes.  The closing of the offering of the New Notes is expected to occur, subject to certain customary conditions on December 4, 2020 (T + 10).

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com.  

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Such forward-looking statements include, but are not limited to, our financing plans, including the offering of the New Notes and the details thereof, the proposed use of proceeds therefrom, the ultimate allocation of amounts relating to the offering of the New Notes to eligible green projects, and other expected effects of the offering of the New Notes, the Tender Offers and Consent Solicitations, the details thereof, other expected effects of the Tender Offers and Consent Solicitations and the proposed concurrent debt financing to satisfy the financing condition and the use of proceeds therefrom.

Actual results could differ materially from those projected in AES' forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of AES' 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting AES' website at www.aes.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-announces-pricing-of-1-8-billion-of-senior-notes-in-a-private-offering-301177685.html

SOURCE The AES Corporation

ARLINGTON, Va., Nov. 19, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) ("AES" or the "Company") announced today the commencement of tender offers to purchase (each offer a "Tender Offer" and collectively, the "Tender Offers") for cash, subject to certain terms and conditions, any and all of its outstanding 5.500% senior notes due 2025 (the "2025 Notes"), 6.000% senior notes due 2026 (the "2026 Notes") and 5.125% senior notes due 2027 (the "2027 Notes" and, together with the 2025 Notes and the 2026 Notes, the "Securities").

In conjunction with the Tender Offers, the Company also commenced solicitations of consents (the "Consent Solicitations") to amend the indenture governing the Securities to eliminate substantially all of the restrictive covenants and events of default in the indentures governing the Securities, and to shorten the minimum notice requirements for optional redemption with respect to the Securities from thirty days to three business days. The Tender Offers and Consent Solicitations (collectively, the "Offers") are being made pursuant to the Company's Offer to Purchase and Consent Solicitation Statement (the "Offer to Purchase"), dated November 19, 2020, which set forth a more detailed description of the terms of the Offers. Holders of the Securities are urged to carefully read the Offer to Purchase before making any decision with respect to the Offers.

The following table sets forth certain terms of the Offers:

The Consent Solicitations will expire at 11:59 p.m., New York City time, on December 17, 2020, unless extended or earlier terminated (as the same may be modified, the "Consent Expiration Date"). The Offers will expire at 11:59 p.m., New York City time, on December 17, 2020, unless extended or earlier terminated by AES (as the same may be extended, the "Expiration Date"). Tenders of Securities may be validly withdrawn at any time at or prior to 5:00 p.m., New York City time, on December 3, 2020, but may not be validly withdrawn thereafter except in certain limited circumstances where additional withdrawal rights are required by law.

Subject to the terms and conditions of the Tender Offers, each Holder who validly tenders and does not subsequently validly withdraw their Securities at or prior to 5:00 p.m. New York City time, on December 3, 2020 (the "Early Tender Date") will be entitled to receive the Total Consideration, plus accrued and unpaid interest up to, but not including, the applicable Settlement Date if and when such Securities are accepted for payment. Holders who validly tender their Securities after the Early Tender Date but at or prior to the Expiration Date will be entitled to receive only the tender offer consideration equal to the Total Consideration less the Early Tender Premium (the "Tender Offer Consideration"), plus accrued and unpaid interest up to, but not including, the applicable Settlement Date, if and when such Securities are accepted for payment. The Company reserves the right, in its sole discretion, at any point following the Early Tender Date and prior to the Expiration Date, to accept for purchase any Securities validly tendered (and not validly withdrawn) at or prior to the Early Tender Date (the date of such acceptance and purchase, the "Early Settlement Date").

Payments for Securities purchased will include accrued and unpaid interest from and including the last interest payment date applicable to the relevant series of Securities up to, but not including, the applicable settlement date for such Securities accepted for purchase. Payment for the Securities that are validly tendered (including a properly completed, executed and delivered consent for tendered Securities) (i) on or prior to the Early Tender Date if the Early Settlement Date has not occurred at the Company's election and (ii) after the Early Tender Date, and, in each case, accepted for purchase by the Company will be made on the date referred to as the "Final Settlement Date." The Final Settlement Date for the Securities will be promptly following the Expiration Date. It is anticipated that the Final Settlement Date for the Securities will be December 21, 2020, the second business day after the Expiration Date.

AES' obligation to accept for purchase, and to pay for, Securities validly tendered pursuant to the Tender Offers are subject to, and conditioned upon, certain conditions, including the condition that AES shall have obtained debt financing in a minimum aggregate principal amount, together with cash on hand and other available sources, to purchase the tendered Securities, including payment of the Tender Offer Consideration or Total Consideration (each as defined in the Offer to Purchase), as applicable, accrued interest and any fees payable in connection with the Tender Offer, subsequent to the date hereof and on or prior to the Final Settlement Date, on terms and conditions reasonably satisfactory to AES (the "Financing Condition"). The Tender Offers are not conditioned on any minimum amount of Securities being tendered. AES may amend, extend or terminate the Tender Offers in its sole discretion.

The obligation of AES to accept for purchase and to pay either the Total Consideration or Tender Offer Consideration and the accrued and unpaid interest on the Securities is not subject to any minimum tender condition, but is subject to the satisfaction or waiver of the Financing Condition and certain other conditions described in the Offer to Purchase.

AES has retained BofA Securities Inc. to serve as Dealer Manager and Solicitation Agent for the Tender Offers. Global Bondholder Services Corporation has been retained to serve as the Information and Depositary Agent for the Tender Offers. Questions regarding the Tender Offers may be directed to BofA Securities Inc. at Attn: Debt Advisory, 620 South Tryon Street, 20th Floor Charlotte, NC 28255, All Call: (980) 387-3907. Email: debt_advisory@bofa.com. Requests for the Offer to Purchase may be directed to Global Bondholder Services Corporation at 65 Broadway – Suite 404, New York, New York 10006, Attn: Corporate Actions, (212) 430-3774 (for banks and brokers) or (866) 470-4200 (for all others). AES is making the Tender Offers only by, and pursuant to, the terms of the Offer to Purchase. None of AES, the Dealer Manager and Solicitation Agent, the Information Agent and Tender Agent makes any recommendation as to whether Holders should tender or refrain from tendering their Securities. Holders must make their own decision as to whether to tender Securities and, if so, the principal amount of the Securities to tender.

The Tender Offers are not being made to holders of Securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offers to be made by a licensed broker or dealer, the Tender Offers will be deemed to be made on behalf of AES by the Dealer Manager and Solicitation Agent, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

This press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any new securities, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful. Capitalized terms used in this press release but not otherwise defined herein have the meanings assigned to them in the Offer to Purchase.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy.  Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs.  Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com.  

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934.  Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Such forward-looking statements include, but are not limited to, the Tender Offers and Consent Solicitations, the details thereof, other expected effects of the Tender Offers and Consent Solicitations and the proposed concurrent debt financing to satisfy the Financing Condition and the use of proceeds therefrom.  Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. 

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results include the aggregate amount of notes tendered (which could lead to retirement or repayment of other existing debt), the successful pricing and closing of the proposed concurrent debt financing to satisfy the Financing Condition, and risks and uncertainties discussed in the Offer to Purchase related to the Tender Offers and AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC.  Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business.  AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company's website at www.aes.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-announces-cash-tender-offers-and-consent-solicitations-for-any-and-all-of-its-5-500-senior-notes-due-2025--6-000-senior-notes-due-2026-and-5-125-senior-notes-due-2027--301177224.html

SOURCE AES CORP.

ARLINGTON, Va., Nov. 19, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) ("AES" or the "Company") today announced that it intends, subject to market and other conditions, to offer Senior Notes due 2026 (the "2026 Notes") and Senior Notes due 2031 (the "2031 Notes" and together with the 2026 Notes, the "New Notes") in a private offering exempt from registration in accordance with Rule 144A and Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act").

AES intends to allocate an amount equal to the net proceeds from this offering to one or more eligible green projects. Pending such allocation, AES intends to use the net proceeds from this offering to fund purchases of any and all of its 5.500% senior notes due 2025 (the "5.500% 2025 Notes"), 6.000% senior notes due 2026 (the "2026 Notes") and 5.125% senior notes due 2027 (the "2027 Notes" and, together with the 5.500% 2025 Notes and the 2026 Notes, the "Tender Offer Notes") in tender offers (the "Tender Offers"), to fully redeem any of the Tender Offer Notes not tendered in connection with the Tender Offers, to fully redeem the $65.0 million aggregate principal amount outstanding of its 4.500% notes due 2023 (the "2023 Notes") and $63.0 million aggregate principal amount of its 5.500% notes due 2024 (the "2024 Notes" and together with the Tender Offer Notes and the 2023 Notes, the "Outstanding Notes"), to pay certain related fees and expenses and for general corporate purposes. This press release does not constitute an offer to purchase or the solicitation of an offer to sell the Outstanding Notes.

The New Notes have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The Company plans to offer and issue the New Notes only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.

This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy the New Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the New Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy.  Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs.  Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.  For more information, visit www.aes.com.  

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Such forward-looking statements include, but are not limited to, our financing plans, including the offering of the New Notes and the details thereof, the proposed use of proceeds therefrom, the ultimate allocation of amounts relating to the offering of the New Notes to eligible green projects, and other expected effects of the offering of the New Notes. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions.

Actual results could differ materially from those projected in AES' forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-announces-private-offering-of-senior-notes-301177213.html

SOURCE The AES Corporation

ARLINGTON, Va., Nov. 17, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) today announced an agreement with Alberta Investment Management Corporation (AIMCo) to merge the sPower development platform, a leading independent solar developer in the US, with AES' US-based clean energy development business to accelerate the safe, reliable transition to cleaner energy solutions in the country. AES' wholly-owned clean energy development business includes AES Distributed Energy and a wind development team formerly part of Advance Energy. The merged business will represent one of the top renewables growth platforms. 

As states, communities and organizations of all types make commitments and plans to reduce their carbon footprints, renewables are on track to be the fastest-growing source of electricity generation in the US in 2020. AES is working with its customers to co-create and deliver the smarter, greener energy solutions that meet their needs, including 24/7 carbon-free energy.

"We share our customers' commitments to a more sustainable energy future. Together, we can create a safe, resilient and carbon-free grid," said Andrés Gluski, AES President and Chief Executive Officer. "The merger of sPower with AES' clean energy business will benefit customers by providing access to a broader portfolio of product offerings as well as an expanded highly skilled and experienced team to drive innovation at scale."  

"sPower has been one of our key infrastructure platforms since our initial investment made in partnership with AES in 2017," stated Kevin Uebelein, Chief Executive Officer of AIMCo. "Our experience working with AES has shown that they are a world leader in delivering on customers' sustainable energy needs, and the formation of this new renewables platform in the US will take that capability to an even higher level. On behalf of our clients and consistent with our investment mandate, we are excited about the value the next phase of our partnership will bring to our many stakeholders."

The merged renewables platform will bring together sPower's and AES' differentiated capabilities in solar, wind and energy storage to accelerate our customers' energy transitions.

"This platform will bring tremendous value to our customers as they pursue their business objectives and climate commitments," said Leo Moreno, AES Clean Energy President.  "Our expanded portfolio of innovative solutions based on cutting-edge technologies will enable us to work together with our customers to power their energy transitions while making a carbon-free future possible."

Future projects developed from the combined 12 gigawatts (GW) development pipeline will be owned 75% by AES and 25% by AIMCo, leveraging our successful partnership at sPower. Although there is no change in ownership of operating assets and backlog, the newly formed platform will manage the 2.5 GW of operating assets and the existing 2.6 GW contracted backlog. The transaction is expected to close in the next few months upon successful completion of customary closing conditions. 

More information about the available jobs in AES' clean energy business is available at aesrenewablejobs.com.

About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com.

About AIMCo
AIMCo is one of Canada's largest and most diversified institutional investment managers with more than $115 billion of assets under management. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 31 pension, endowment and government funds in the Province of Alberta.

AIMCo's Infrastructure and Renewable Resources group manages a portfolio of nearly $10 billion in infrastructure investments, comprised primarily of long-term equity positions in OECD-based infrastructure assets. These assets typically provide essential services to the public and are either regulated or have highly contracted revenues with the potential for long-term capital appreciation. AIMCo infrastructure investments are intended to match long duration real return asset characteristics with inflation-indexed pension liabilities.

For more information on AIMCo please visit www.aimco.ca.

About sPower
Headquartered in Salt Lake City, Utah, sPower is a leading independent power producer (IPP) that owns and operates a wind, solar, and storage portfolio. sPower is owned by a joint venture partnership between The AES Corporation (NYSE: AES), a Fortune 500 global power company, and the Alberta Investment Management Corporation (AIMCo), one of Canada's largest and most diversified institutional investment managers.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-and-aimco-to-form-leading-renewables-platform-in-the-us-301174269.html

SOURCE The AES Corporation

ARLINGTON, Va., Nov. 6, 2020 /PRNewswire/ --

Strategic Accomplishments

• Attained a second investment grade rating from S&P in November 2020
• Retiring 1.2 GW of coal in the US and Chile, bringing coal generation to 29% of total generation on a proforma basis
• Signed or awarded 556 MW of new renewables and energy storage, including 410 MW of Green Blend and Extend, for a total of 2.1 GW in year-to-date 2020
• Total backlog of renewables awarded, under signed PPAs or under construction of 6.8 GW
• Fluence maintained its global lead in the energy storage market by signing 690 MW in year-to-date 2020, bringing its total delivered or awarded to 2.4 GW
• Signed an agreement to sell a 35% interest in the Southland repowering for $424 million, bringing year-to-date asset sale proceeds to $650 million

Q3 2020 Financial Highlights

• Diluted EPS of ($0.50), compared to $0.32 in Q3 2019, primarily reflecting expenses associated with dispositions and impairments
• Adjusted EPS¹ of $0.42, compared to $0.48 in Q3 2019

Financial Position and Outlook

• Reaffirming 2020 Adjusted EPS¹ guidance range of $1.32 to $1.42 and now expecting to be at the top end of this range
• Reaffirming 7% to 9% average annual growth target through 2022
• Remain committed to growing dividend by 4% to 6% annually, subject to Board approval

The AES Corporation (NYSE: AES) today reported financial results for the quarter ended September 30, 2020.

"I am pleased to announce that we have already achieved two of our top three priorities for 2020 by attaining a second investment grade rating and reducing our coal generation to 29%.  With our year-to-date performance, we are on track to accomplish our third priority of delivering our guidance," said Andrés Gluski, AES President and Chief Executive Officer.  "By leveraging our Green Blend and Extend strategy and our development pipeline, we added 556 MW of renewables, bringing our year-to-date total to 2.1 GW and our backlog to 6.8 GW.  At the same time, Fluence continues to maintain its global leadership position in the energy storage market, with 2.4 GW delivered or awarded and its recent acquisition of AMS, the leading provider of AI-enabled bidding software for utility-scale storage and generation assets."

"We are very excited by the recent upgrade to investment grade from S&P, which again highlights the material transformation of our portfolio and balance sheet over the last several years," said Gustavo Pimenta, AES Executive Vice President and Chief Financial Officer. "Furthermore, the 35% sell-down of the Southland repowering demonstrates the significant intrinsic value of our assets.  This year, we have announced asset sale proceeds of $650 million, above our $550 million target.  We will recycle this capital by investing in renewables and innovative solutions to further transform our portfolio and deliver superior returns to our shareholders."

Key Q3 2020 Financial Results

Third quarter 2020 Diluted Earnings Per Share from Continuing Operations (Diluted EPS) was ($0.50), a decrease of $0.82 compared to third quarter 2019, primarily reflecting higher impairments and losses on sales in 2020 of $1.13, as well as lower contributions from the Mexico, Central America and the Caribbean (MCAC) Strategic Business Unit (SBU).  These impacts were partially offset by a lower income tax expense and higher margins from the South America SBU, largely due to net gains from early contract terminations at Angamos.

Third quarter 2020 Adjusted Earnings Per Share¹ (Adjusted EPS, a non-GAAP financial measure) was $0.42, a decrease of $0.06 compared to third quarter 2019, primarily reflecting cumulative outage-related insurance recovery of $0.05 collected in the third quarter of 2019 at the MCAC SBU.

Detailed Strategic Overview

AES is leading the industry's transition to clean energy by investing in sustainable growth and innovative solutions. The Company is taking advantage of favorable trends in clean power generation, transmission and distribution, and LNG infrastructure to deliver superior results.

Sustainable Growth: Through its presence in key growth markets, AES is well-positioned to benefit from the global transition toward a more sustainable power generation mix.

• In year-to-date 2020, the Company completed construction of 1,754 MW of new projects, including:
• 1,299 MW Southland Repowering project in Southern California;
• 100 MW Vientos Bonaerenses wind facility in Argentina;
• 100 MW Vientos Neuquinos wind facility in Argentina;
• 80 MW Andes 2a solar facility in Chile;
• 75 MW Pleinmont 1 solar facility in Virginia;
• 57 MW of solar and solar plus storage in the US at AES Distributed Energy;
• 28 MW Na Pua Makani wind facility in Hawaii;
• 10 MW Alfalfal Virtual Reservoir energy storage facility in Chile; and
• 5 MW Opico solar facility in El Salvador.
• In year-to-date 2020, the Company was awarded or signed 2,093 MW of renewables and energy storage under long-term Power Purchase Agreements (PPA):
• 1,173 MW of wind and solar at AES Gener in Chile and Colombia;
• 542 MW of energy storage, solar and solar plus storage in the US;
• 187 MW of wind at AES Tiete in Brazil;
• 109 MW of wind in Mexico; and
• 82 MW of wind and solar in Panama and the Dominican Republic.
• The Company's backlog of 6,806 MW of renewables now includes:
• 2,168 MW under construction and expected on-line through 2022; and
• 4,638 MW signed under long-term PPAs or awarded.
• The Company has reduced its coal-fired generation to 29% of total generation volume (proforma for asset sales and retirements announced in 2020) and is on track to further reduce its coal-fired generation to less than 10% by year-end 2030.
• In November 2020, the Company announced the retirement of 1,158 MW of coal-fired generation, which will decrease the Company's generation from coal by 5 percentage points, to approximately 29% of its total generation.
• 630 MW Petersburg Units 1 and 2 in Indiana (expected to be retired in 2021 and 2023);
• 322 MW Ventanas Units 1 and 2 in Chile (expected to be retired in 2022 and 2024); and
• 206 MW AES Hawaii (expected to be retired in 2022).

Innovative Solutions: The Company is developing and deploying innovative solutions such as battery-based energy storage, digital customer interfaces and energy management.

• Fluence, the Company's joint venture with Siemens, is the global leader in the fast-growing energy storage market, which is expected to increase by 15 to 20 GW annually.
• In year-to-date 2020, Fluence signed 690 MW of new contracts, bringing its total delivered or awarded to 2.4 GW.

Superior Results: By investing in sustainable growth and offering innovative solutions to customers, the Company is transforming its business mix to deliver superior results.

• The Company has a resilient and diversified portfolio of electric generation and utilities with credit-worthy offtakers and an average contract life of 14 years.

Guidance and Expectations¹

The Company is reaffirming its 2020 Adjusted EPS¹ guidance of $1.32 to $1.42 and expects to be in the top end of this range.  The Company is also reaffirming its 7% to 9% average annual growth rate target through 2022, from a base year of 2018.

Non-GAAP Financial Measures

See Non-GAAP Measures for definitions of Adjusted Earnings Per Share and Adjusted Pre-Tax Contribution, as well as reconciliations to the most comparable GAAP financial measures.

Attachments

Condensed Consolidated Statements of Operations, Segment Information, Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Cash Flows, Non-GAAP Financial Measures and Parent Financial Information.

Conference Call Information

AES will host a conference call on Friday, November 6, 2020 at 9:00 a.m. Eastern Standard Time (EST).  Interested parties may listen to the teleconference by dialing 1-888-317-6003 at least ten minutes before the start of the call. International callers should dial +1-412-317-6061.  The Conference ID for this call is 2751417.  Internet access to the conference call and presentation materials will be available on the AES website at www.aes.com by selecting "Investors" and then "Upcoming events."

A webcast replay, as well as a replay in downloadable MP3 format, will be accessible at www.aes.com beginning shortly after the completion of the call.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company accelerating the future of energy.  Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs.  Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019  Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company's website at www.aes.com.

THE AES CORPORATION
NON-GAAP FINANCIAL MEASURES
(Unaudited)
RECONCILIATION OF ADJUSTED PRE-TAX CONTRIBUTION (PTC) AND ADJUSTED EPS

Adjusted PTC is defined as pre-tax income from continuing operations attributable to The AES Corporation excluding gains or losses of the consolidated entity due to (a) unrealized gains or losses related to derivative transactions and equity securities; (b) unrealized foreign currency gains or losses; (c) gains, losses, benefits and costs associated with dispositions and acquisitions of business interests, including early plant closures, and gains and losses recognized at commencement of sales-type leases; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation; and (g) net gains at Angamos, one of our businesses in the South America SBU, associated with the early contract terminations with Minera Escondida and Minera Spence.  Adjusted PTC also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities.

Adjusted EPS is defined as diluted earnings per share from continuing operations excluding gains or losses of both consolidated entities and entities accounted for under the equity method due to (a) unrealized gains or losses related to derivative transactions and equity securities; (b) unrealized foreign currency gains or losses; (c) gains, losses, benefits and costs associated with dispositions and acquisitions of business interests, including early plant closures, and the tax impact from the repatriation of sales proceeds, and gains and losses recognized at commencement of sales-type leases; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation; (g) net gains at Angamos, one of our businesses in the South America SBU, associated with the early contract terminations with Minera Escondida and Minera Spence; and (h) tax benefit or expense related to the enactment effects of 2017 U.S. tax law reform and related regulations and any subsequent period adjustments related to enactment effects.

The GAAP measure most comparable to Adjusted PTC is income from continuing operations attributable to AES. The GAAP measure most comparable to Adjusted EPS is diluted earnings per share from continuing operations. We believe that Adjusted PTC and Adjusted EPS better reflect the underlying business performance of the Company and are considered in the Company's internal evaluation of financial performance. Factors in this determination include the variability due to unrealized gains or losses related to derivative transactions or equity securities remeasurement, unrealized foreign currency gains or losses, losses due to impairments and strategic decisions to dispose of or acquire business interests, retire debt or implement restructuring activities, which affect results in a given period or periods. In addition, for Adjusted PTC, earnings before tax represents the business performance of the Company before the application of statutory income tax rates and tax adjustments, including the effects of tax planning, corresponding to the various jurisdictions in which the Company operates. Adjusted PTC and Adjusted EPS should not be construed as alternatives to income from continuing operations attributable to AES and diluted earnings per share from continuing operations, which are determined in accordance with GAAP.

_____________________________

⁽¹⁾  NCI is defined as Noncontrolling Interests.

⁽²⁾  Amounts primarily relate to unrealized derivative losses at Southland of $20 million, or $0.03 per share, for the three months ended September 30, 2020, and unrealized derivative losses in Argentina mainly associated with foreign currency derivatives on government receivables of $18 million, or $0.03 per share, for the nine months ended September 30, 2020. 

⁽³⁾  Amounts primarily relate to unrealized derivative losses in Argentina of $71 million, or $0.11 per share, and $77 million, or $0.12 per share, for the three and nine months ended September 30, 2019, respectively, mainly associated with foreign currency derivatives on government receivables. 

⁽⁴⁾  Amounts primarily relate to unrealized FX losses in Argentina of $11 million, or $0.02 per share, and $23 million, or $0.03 per share, for the three and nine months ended September 30, 2019, respectively, mainly associated with the devaluation of long-term receivables denominated in Argentine pesos; and unrealized FX losses at the Parent Company of $18 million, or $0.03 per share, and $22 million, or $0.03 per share, for the three and nine months ended September 30, 2019, respectively, mainly associated with intercompany receivables denominated in Euro. 

⁽⁵⁾  Amount primarily relates to loss on sale of Uruguaiana of $85 million, or $0.13 per share, and advisor fees associated with the successful acquisition of additional ownership interest in Tietê of $9 million, or $0.01 per share. 

⁽⁶⁾  Amount primarily relates to gain on sale of ownership interest in Simple Energy as part of the Uplight merger of $13 million, or $0.02 per share, and realized derivative gains associated with the sale of Kilroot and Ballylumford of $7 million, or $0.01 per share.

⁽⁷⁾  Amount primarily relates to loss on sale of Uruguaiana of $85 million, or $0.13 per share, loss on sale of the Kazakhstan HPPs of $30 million, or $0.05 per share, as result of the final arbitration decision, and advisor fees associated with the successful acquisition of additional ownership interest in Tietê of $9 million, or $0.01 per share. 

⁽⁸⁾  Amount primarily relates to asset impairments at Gener of $523 million, or $0.78 per share, at our Guacolda equity affiliate impacting equity earnings by $81 million, or $0.12 per share, at Hawaii of $38 million, or $0.06 per share, and at Panama of $15 million, or $0.02 per share.  

⁽⁹⁾  Amount primarily relates to asset impairments at Gener of $527 million, or $0.79 per share, other-than-temporary impairment of OPGC of $201 million, or $0.30 per share, impairment at our Guacolda equity affiliate impacting equity earnings by $81 million, or $0.12 per share, impairment at Hawaii of $38 million, or $0.06 per share, impairment at Panama of $15 million, or $0.02 per share, and impairments at our sPower equity affiliate, impacting equity earnings by $16 million, or $0.02 per share. 

⁽¹⁰⁾  Amount primarily relates to asset impairments at Kilroot and Ballylumford of $115 million, or $0.17 per share. 

⁽¹¹⁾  Amount primarily relates to losses on early retirement of debt at DPL of $32 million, or $0.05 per share, Panama of $11 million, or $0.02 per share, and Angamos of $10 million, or $0.01 per share. 

⁽¹²⁾  Amount primarily relates to losses on early retirement of debt at Mong Duong of $16 million, or $0.02 per share, and Colon of $14 million, or $0.02 per share.

⁽¹³⁾  Amount primarily relates to losses on early retirement of debt at the Parent Company of $37 million, or $0.06 per share, DPL of $32 million, or $0.05 per share, Panama of $11 million, or $0.02 per share, and Angamos of $10 million, or $0.02 per share.

⁽¹⁴⁾  Amount primarily relates to losses on early retirement of debt at DPL of $45 million, or $0.07 per share, Mong Duong of $16 million, or $0.02 per share, and Colon of $14 million, or $0.02 per share.

⁽¹⁵⁾  Amounts primarily relate to net gains at Angamos associated with the early contract terminations with Minera Escondida and Minera Spence of $72 million, or $0.11 per share.

⁽¹⁶⁾  Amount represents adjustment to tax law reform remeasurement due to incremental deferred taxes related to DPL of $16 million, or $0.02 per share.

⁽¹⁷⁾  Amounts primarily relate to income tax benefits associated with the impairments at Gener and Guacolda of $147 million, or $0.22 per share.

⁽¹⁸⁾  Amount primarily relates to income tax benefits associated with the impairments at Kilroot and Ballylumford of $17 million, or $0.03 per share, and income tax benefits associated with losses on early retirement of debt at DPL, Mong Duong and Colon of $24 million, or $0.04 per share

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-attains-second-investment-grade-rating-reduces-coal-generation-to-below-30-reaffirms-full-year-2020-guidance-and-growth-rates-through-2022-301167644.html

SOURCE The AES Corporation

INDIANAPOLIS, Oct. 29, 2020 /PRNewswire/ -- Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), announces Kristina Lund has been named president and CEO of the utility which serves approximately 500,000 customers throughout central Indiana.  

"Kristina's spirit of innovation and focus on customer insights makes her uniquely qualified to lead IPL as we invest in transformational digital solutions that create additional customer value," said Lisa Krueger, president of AES US. "Our customers, our people and the communities we serve will benefit from Kristina's leadership in providing personalized and sustainable energy services that will improve lives."  

Lund and her senior leadership team will have overall responsibility to provide safe, reliable and affordable electric service to over 1 million customers served by IPL and Dayton Power & Light (DP&L), as she is president of the US Utilities for AES, with headquarters in Indianapolis. 

Krueger, who has been deeply involved in developing the strategic plans for both utilities over the past two years, will become Executive Chairman of the board of IPL and its holding company, IPALCO, as well as DP&L and its holding company, DPL Inc. Krueger also leads strategic growth plans across the US, including AES Clean Energy, which delivers greener, smarter energy solutions the world needs.  

Lund is a senior energy executive with a nearly 15-year tenure at AES. Most recently she was Chief Product Officer for carbon free energy, and prior to that role, Lund served as a regional Chief Financial Officer. She led financial affairs and execution for AES businesses in 13 countries that represented more than $10 billion in assets. As Vice President, Corporate Strategy and Investment, Lund developed the company's strategy and facilitated its Investment Committee, which determines AES' global investment priorities.  

"The team's hard work over the past several years laid a strong foundation for IPL's future, and we will innovate with new products and solutions to meet our customers' changing energy needs," said Lund. "I am excited to lead IPL during this pivotal time as we deliver on a $1.2 billion plan to modernize our grid which improves reliability and customer experience."  

Lund holds a Bachelor of Arts in Economics from Wellesley College and a Master of Business Administration from Harvard Business School. Lund and her family recently moved to Indianapolis, and her two children are attending a local school. 

About Indianapolis Power & Light Company and AES Corporation 
Indianapolis Power & Light Company (IPL), an AES Company, provides retail electric service to more than 500,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, IPL has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please visit www.IPLpower.com or connect with us on Twitter, Facebook and LinkedIn. 

About AES 
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. 

View original content to download multimedia:http://www.prnewswire.com/news-releases/indianapolis-power--light-company-names-energy-industry-leader-kristina-lund-as-president-and-ceo-301163506.html

SOURCE Indianapolis Power & Light Company

DAYTON, Ohio, Oct. 29, 2020 /PRNewswire/ -- Dayton Power & Light Company (DP&L), a subsidiary of The AES Corporation (NYSE: AES), announces Kristina Lund has been named president and CEO of the utility which serves approximately 527,000 customers in west central Ohio.

"Kristina's spirit of innovation and focus on customer insights makes her uniquely qualified to lead DP&L as we invest in transformational digital solutions that create additional customer value," said Lisa Krueger, president of AES US. "Our customers, our people and the communities we serve will benefit from Kristina's leadership in providing personalized and sustainable energy services that will improve lives."

Lund and her senior leadership team have overall responsibility to provide safe, reliable and affordable electric service to the over 1 million customers served by DP&L and Indianapolis Power & Light Company (IPL) as she is president of the US Utilities for AES. Krueger, who has been deeply involved in developing the strategic plans for both utilities over the past two years, will become Executive Chairman of the board of DP&L and its holding company, DPL Inc., as well as IPL and its holding company, IPALCO. Krueger also leads strategic growth plans across the US, including AES Clean Energy, which delivers greener, smarter energy solutions the world needs. 

Lund is a senior energy executive with a nearly 15-year tenure at AES. Most recently she was Chief Product Officer for carbon free energy, and prior to that role, Lund served as a regional Chief Financial Officer. She led financial affairs and execution for AES businesses in 13 countries that represented more than $10 billion in assets. As Vice President, Corporate Strategy and Investment, Lund developed the company's strategy and facilitated its Investment Committee, which determines AES' global investment priorities.

"I am excited for the opportunity to lead DP&L during a time of transformation and innovation in the energy industry," said Lund. "I am committed to bringing value to the company through investments in technology and infrastructure that benefit our customers, such as our recently filed smart grid settlement and the introduction of AES' global smart operations center at MacGregor Park in Dayton."

Lund holds a Bachelor of Arts in Economics from Wellesley College and a Master of Business Administration from Harvard Business School. Lund and her family live in Indianapolis, Ind.

About The Dayton Power and Light Company and AES Corporation
The Dayton Power and Light Company is the principal subsidiary of DPL Inc. (DPL), a regional energy provider and an AES company. DPL's primary subsidiaries include The Dayton Power and Light Company. The Dayton Power and Light Company, a regulated electric utility, provides service to over 527,000 customers in West Central Ohio. For more information about the company, please visit www.dpandl.com. Connect with DP&L at www.twitter.com/dpltoday, www.linkedin.com/company/dayton-power-and-light, and at www.facebook.com/DPLToday.

About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.

View original content to download multimedia:http://www.prnewswire.com/news-releases/dayton-power--light-company-names-energy-industry-leader-kristina-lund-as-president-and-ceo-301163319.html

SOURCE Dayton Power and Light

ARLINGTON, Va., Oct. 28, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) today launched a new brand to reflect its transformation as a leading energy company and announced product offerings to help organizations achieve their energy objectives. The company has aggressively led the world's transition to cleaner energy and is executing an ambitious carbon reduction strategy. As one of the largest renewables developers in the world, AES is adding 2 to 3 gigawatts (GW) of new renewables every year and has a 6 GW backlog of clean energy projects, including those with signed agreements or under construction.

"We have transformed AES into a leader in clean growth and innovation," said Andrés Gluski, AES' President and CEO. "The new AES brand recognizes that we are on the forefront of technological and commercial innovations that will transform our industry."

AES is co-creating solutions that enable businesses to build a competitive advantage while meeting their sustainability objectives. These customers include Kaua'i Island Utility Cooperative (KIUC). Together with AES, KIUC is delivering energy that will help the State of Hawaii meet its commitment to transform and achieve 100% renewable power by 2045.

With the launch of its new brand, AES also introduced new product offerings to help customers wherever they are on their energy journey build competitive advantages as leaders in their respective industries.

Customers can take many paths toward reaching their energy goals. Together with AES, customers can achieve a higher standard of clean energy, drive impact through access and insights, secure their sustainable energy future and achieve scale benefits through shared platforms and applications.

AES has made it easier for organizations to accelerate their clean energy transformation, make meaningful contributions toward a sustainable climate and build competitive advantages within their industries, accelerating the clean energy future our world deserves and needs.

To connect with AES about its transformation and new brand, please contact Gail Chalef, Senior Manager for Press and Media Relations, at gail.chalef@aes.com or +1-571-833-8804. 

About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-continues-to-accelerate-the-future-of-energy-with-the-launch-of-a-new-brand-and-product-offerings-301161358.html

SOURCE AES CORP

DAYTON, Ohio, Oct. 23, 2020 /PRNewswire/ -- Dayton Power & Light Company (DP&L), a subsidiary of the AES Corporation (NYSE:AES), has filed a nearly unanimous stipulation (Stipulation) to invest $249 million in capital projects over the next four years providing direct customer benefits through modernizing the electric grid and building a smarter energy future for customers. This four-year plan is a significant initial step to modernize the electric grid to provide personalized, seamless service that will enhance reliability, efficiency, and customer value.

The Stipulation includes plans to implement Phase 1 of the DP&L's Smart Grid Plan with a commitment to file Phase 2 within three years. The proposed Stipulation is supported by a broad coalition of customers, the City of Dayton, environmental groups, competitive suppliers and the Public Utilities Commission of Ohio (PUCO) Staff. With this comprehensive Stipulation, which resolves a number of other matters, DP&L has a clear path to begin executing the company's plans to modernize its electric grid, providing all customer with benefits such as fewer outages and enhanced communication.

"We appreciate the opportunities to work with all interested parties to reach a balanced and fair settlement agreement to continue our progress toward creating a smarter energy future for our customers," said Lisa Krueger, president of the U.S. strategic business unit for The AES Corporation, the parent company of DP&L. "This marks an exciting step in our digital transformation to provide our customers with personalized, innovative, and seamless energy services."

The Stipulation allows DP&L to invest in new technology, equipment and systems to better serve its customers, such as:

• Upgrading to an advanced metering infrastructure (AMI) or "Smart Meters", to improve overall customer experience through better system reliability, performance and communication.
• Installation of technology to allow "self-healing" of portions of the grid which isolates problems and automatically re-route power without service interruption to our customers.
• Implementation of rebate programs for electric vehicle supply equipment and smart thermostats.
• In addition, DP&L will prioritize installing equipment in the west and northwest areas of the city of Dayton which were the hardest hit locations by the 2019 Memorial Day tornadoes.

DP&L maintains the lowest residential rates of the investor-owned utilities in Ohio. If the Stipulation is approved by the PUCO, the average residential customer in the DP&L service territory, using 1,000 kWh on DP&L's Standard Service Offer, can expect a monthly bill adjustment of $0.94. 

This Stipulation allows DP&L to invest in technology to help achieve its vision that customers will experience personalized, innovative and seamless energy services enabled by transformative technologies. DP&L intends to achieve this vision by leveraging the use of technology to provide customers information, choices, and engaging in new ways to interact with their utility.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements include, but are not limited to, statements regarding management's intents, beliefs and current expectations and typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "would," "intend," "believe," "project," "estimate," "plan" and similar words. Such forward-looking statements include, but are not limited to, the making of regulatory applications and filings, investments in and implementation of equipment, systems and technologies, strategic objectives, business prospects, anticipated economic performance and financial condition, management's expectations and other similar matters. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute current expectations based on reasonable assumptions. These assumptions include, but are not limited to, timing of events, accurate projections of market conditions and regulatory rates, future interest rates, continued operating performance and electricity volume at distribution companies consistent with historical levels, as well as achievements of planned productivity improvements and growth investments at expected rates of return.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in DPL's and DP&L's filings with the Securities and Exchange Commission, including, but not limited to, the risks discussed under Item 1A "Risk Factors" in DPL's and DP&L's 2019 Annual Report on Form 10-K and 2020 Quarterly Reports on 10-Q. Readers are encouraged to read DPL's and DP&L's filings to learn more about the risk factors associated with DPL's and DP&L's businesses. DPL and DP&L undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any security holder who desires copies of DPL or DP&L's periodic reports filed with the Securities and Exchange Commission may obtain copies (excluding Exhibits) without charge by addressing a request to the Office of the Secretary, DPL Inc., 1065 Woodman Drive, Dayton, Ohio 45432. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. Copies of such reports also may be obtained by visiting DPL's website at www.dpandl.com.

About The Dayton Power and Light Company
The Dayton Power and Light Company is the principal subsidiary of DPL Inc. (DPL), a regional energy provider and an AES company. DPL's primary subsidiaries include The Dayton Power and Light Company. The Dayton Power and Light Company, a regulated electric utility, provides service to over 527,000 customers in West Central Ohio. For more information about the company, please visit www.dpandl.com. Connect with DP&L at www.twitter.com/dpltoday, www.linkedin.com/company/dayton-power-and-light, and at www.facebook.com/DPLToday.

About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world's changing power needs. Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets.  To learn more, please visit www.aes.com.  Follow AES on Twitter @TheAESCorp

View original content to download multimedia:http://www.prnewswire.com/news-releases/dpl-reaches-comprehensive-settlement-agreement-resolving-numerous-cases-including-its-smart-grid-plan-301158865.html

SOURCE Dayton Power and Light

ARLINGTON, Va., Oct. 16, 2020 /PRNewswire/ -- The Board of Directors of The AES Corporation (NYSE: AES) declared a quarterly common stock dividend of $0.1433 per share payable on November 16, 2020 to shareholders of record at the close of business on October 30, 2020.

Additional information regarding dividends paid by AES, including tax treatment, can be found on www.aes.com by selecting "Investors" and then "Dividend History."

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company.  We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities.  Our workforce is committed to operational excellence and meeting the world's changing power needs.  Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets.  To learn more, please visit www.aes.com.  Follow AES on Twitter @TheAESCorp.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company's website at www.aes.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-announces-quarterly-dividend-301153434.html

SOURCE AES CORP.

ARLINGTON, Va., Oct. 6, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) will host a conference call on Friday, November 6, 2020 at 9:00 a.m. Eastern Standard Time (EST) to review its third quarter 2020 financial results.

The call will include prepared remarks and a question and answer session. It will be open to the media and the public in a listen-only mode by telephone and webcast. Interested parties may listen to the teleconference by dialing 1-888-317-6003 at least ten minutes before the start of the call. International callers should dial +1-412-317-6061. The Conference ID for this call is 2751417. Internet access to the conference call and presentation materials will be available on the AES website at www.aes.com by selecting "Investors" and then "Presentations and Webcasts."

A webcast replay, as well as a replay in downloadable MP3 format, will be accessible at www.aes.com beginning shortly after the completion of the call.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company.  We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities.  Our workforce is committed to operational excellence and meeting the world's changing power needs.  Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets.  To learn more, please visit www.aes.com.  Follow AES on Twitter @TheAESCorp.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company's website at www.aes.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-announces-third-quarter-2020-financial-review-conference-call-to-be-held-on-friday-november-6-2020-at-900-am-est-301145873.html

SOURCE AES CORP.

DAYTON, Ohio, Sept. 17, 2020 /PRNewswire/ -- Dayton Power & Light Company (DP&L), a subsidiary of The AES Corporation (NYSE: AES), today marks the announcement of its Smart Operations Center in Ohio, the first of its kind in the United States, opening a new era of innovative energy solutions. The facility represents AES' longstanding commitment to the digital transformation of the energy industry, accelerating a safer and cleaner energy future in the United States and globally. The center also demonstrates AES' investment in the State of Ohio and its people.

Using leading-edge technology, the AES Smart Center will employ data to increase the efficiency of its electric operations across the US. This digital hub also represents the integration of AES' new Global Performance Monitoring and Analytics Center (PMAC) and AES' Remote Operations and Control Center (ROCC) for US-based generation assets.  This consolidation is critical as the company – and the energy industry as a whole – intensifies its reliance on data and smart grid technologies.

"The transition to a cleaner, more efficient energy future depends in large part on the adoption of digital technology," said Bernerd Da Santos, AES Executive Vice President and Chief Operating Officer. "The new AES Smart Center will tap into the power of data and digital platforms, allowing us to monitor, remotely operate and improve the management of our power generation operations, including solar, wind, hydro, thermal and energy storage facilities across the United States and globally from one central location. This digital approach will lead the way to a greener, more sustainable future for the businesses and communities we serve."

"We believe that the electric grid can become clean and unbreakable and are excited to continue accelerating the future of energy together with an inventive city like Dayton through our first US-based smart operations center," said Lisa Krueger, AES US Strategic Business Unit President. "Our selection of Dayton as the location of our first US-based smart operations center demonstrates our commitment to the region today and our belief in a strong pool of local innovators who will help us shape tomorrow while contributing to the state's economic growth."

The announcement solidifies AES' renewed investment in Ohio and its commitment to supporting job creation within the state. AES, the parent company to Dayton Power & Light (DP&L), continues to contribute to Ohio's economic growth. The Smart Operations Center will foster Ohio's workforce development, as the state works to meet increasing digital technology demands.

"AES' decision to stand up their Smart Operations Center in Dayton is a testament to the region's skilled workforce and Ohio's robust innovation ecosystem," said J.P. Nauseef, JobsOhio president and CEO.  "The Dayton Development Coalition, JobsOhio and the Dayton Area Chamber of Commerce look forward to partnering with AES as it invests in Ohio's people and infrastructure, which is critical to growing Ohio's economy."

The AES Smart Operations Center is located at the AES/DP&L MacGregor Park site will attract and employ advanced technology engineers and data scientists from the City of Dayton and the wider Montgomery County and Ohio regions.

About The Dayton Power and Light Company
The Dayton Power and Light Company is the principal subsidiary of DPL Inc. (DPL), a regional energy provider and an AES company. DPL's primary subsidiaries include The Dayton Power and Light Company. The Dayton Power and Light Company, a regulated electric utility, provides service to over 527,000 customers in West Central Ohio. For more information about the company, visit dpandl.com. Connect with DP&L at www.twitter.com/dpltoday, www.linkedin.com/company/dayton-power-and-light, and at www.facebook.com/DPLToday.

About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world's changing power needs. Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets.  To learn more, please visit www.aes.com.  Follow AES on Twitter @TheAESCorp.

View original content:http://www.prnewswire.com/news-releases/aes-announces-smart-operations-center-in-ohio-301133264.html

SOURCE Dayton Power and Light

INDIANAPOLIS, Aug. 31, 2020 /PRNewswire/ -- Indianapolis Power & Light Company (IPL) has reached a settlement agreement with the United States Environmental Protection Agency (EPA), the United States Department of Justice (DOJ) and the Indiana Department of Environmental Management (IDEM) resolving purported violations of the Clean Air Act.

"We are pleased to have worked with federal and state officials to conclude longstanding discussions with an agreement that recognizes our progress in accelerating a safer and greener energy future through pollution control measures and a significant reduction in emissions," said Lisa Krueger, president of the U.S. strategic business unit for The AES Corporation (NYSE: AES), the parent company of IPL. "Settling this matter now solidifies environmental contributions we will make in Indiana communities and avoids expensive and lengthy litigation."

As part of the settlement, IPL will spend $5 million on a non-emitting generation source at Petersburg Generating Station to provide support for the plant's auxiliary load requirements and partially offset emissions from units at Petersburg, pending EPA and IDEM approvals. IPL will acquire and donate ecologically significant lands, in accordance with the 15-year wildlife refuge habitat management plan. The agreement contemplates that IPL will fund land that meets IDEM's criteria of providing value in an area with the greatest ecological significance. Plans may also include providing funding for planting native trees, grasses and wildflowers on acquired lands in future years.

Over the last decade, IPL has reduced emissions from its generation facilities to better protect the environment, while continuing to deliver safe and reliable electric service to its customers. Most notably, IPL replaced coal-fired operations at Eagle Valley and Harding Street Generating Stations with cleaner natural gas operations, and the company improved operations and installed new controls at Petersburg. Together, these measures substantially reduced IPL's emissions of NOx, SO2, CO2, mercury and particulate matter. Today's settlement complements IPL's latest integrated resource plan (IRP), which provides customers the most affordable, diversified generation portfolio. In response to the IRP, a request for proposals was issued for replacement capacity, which will likely increase IPL's renewable generation in future years.

In September 2009, September 2015 and February 2016, IPL received notices of violation from the EPA alleging that IPL violated the Clean Air Act at Petersburg. While IPL believes the actions at issue were taken in full compliance with the Act and applicable permits, it entered into the settlement agreement to resolve EPA's claims and avoid uncertainties associated with litigation.

The settlement agreement covers Petersburg and includes annual caps on NOx and SO2 emissions and more stringent emissions limits than IPL's current Title V air permit. Settlement negotiations resulted in a consent decree lodged today with the U.S. District Court for the Southern District of Indiana. The settlement is subject to final review and approval by the Court, following a 30-day public comment period.

About Indianapolis Power & Light Company and AES Corporation
Indianapolis Power & Light Company (IPL), an AES Company, provides retail electric service to more than 500,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, IPL has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please visit www.IPLpower.com or connect with us on Twitter, Facebook and LinkedIn.

The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world's changing power needs. Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.

View original content to download multimedia:http://www.prnewswire.com/news-releases/indianapolis-power--light-company-finalizes-agreement-with-us-epa-us-doj-and-indiana-department-of-environmental-management-301121218.html

SOURCE Indianapolis Power & Light Company

DAYTON, Ohio, Aug. 12, 2020 /PRNewswire/ -- Dayton Power & Light Company (DP&L), a subsidiary of The AES Corporation (NYSE: AES), announces new extended payment options to assist customers experiencing financial hardship as a result of the COVID-19 pandemic.

"We care about our customers and the Miami Valley and recognize the ongoing challenges caused by the COVID-19 pandemic," said Lisa Krueger, president of the AES U.S. strategic business unit. "On our website we provide information on resources available to those customers experiencing financial hardship. Customers who have fallen behind on paying their electricity bills may choose an extended payment plan that meets their needs."

In mid-March, DP&L suspended disconnections for nonpayment as well as late-payment fees and credit card fees to provide the reliable electric service customers needed throughout the state's stay-at-home order and beyond.

Extended payment options

Customers experiencing financial hardship due to COVID-19 can sign up now for an extended payment plan by using self-service options either by phone through our automated system at 800-433-8500 or online at dpandl.com/onelessworry.  Residential customers can select from 6, 9 and a new 12-month extended pay agreement, while business customers can extend payments up to 6 months.

DP&L is contacting customers with overdue account balances by email and postcards delivered by the U.S Postal Service, additionally customers may receive an automated call outlining our payment options. Customers who are unable to self-serve can call a service specialist who will help them with their plan. DP&L representatives are available at 800-433-8500 from 8 a.m. to 5 p.m., Monday through Friday. 

Expanded assistance options

Customers evaluating which extended payment option works best for them should first see if they qualify for other assistance programs, such as United Way of the Greater Dayton Area Help Link 2-1-1,  Miami Valley Community Action Partnership, or Income-Qualified Programs.

What customers can expect as DP&L returns to standard business operations

• With the relief provided by the extended payment plans, DP&L will return to standard billing practices starting with the end of the suspension of disconnections on September 1.
• For those customers with overdue account balances who have not signed up for a payment plan, disconnection notifications will begin on August 17 with actual disconnections taking place September 1, consistent with timing of other Ohio electric utilities. DP&L will ensure safe practices that include social distancing and wearing masks in addition to offering contactless payment options during the personal notice on the day of disconnect.
• Late fees will resume at the same time as disconnections notices on August 17. DP&L will not assess late fees on accounts that are currently on pay agreements.
• DP&L will continue to waive credit cards fees for customers on pay agreements that make payments electronically by the terms of the 12-month payment plan or through November 2021.

Additional Information on Expanded Assistance Options

DP&L's COVID-19 webpage includes a list of available resources during the pandemic, such as detailed payment and billing options, assistance options, energy efficiency programs and government programs that can benefit small businesses. Visit dpandl.com/update for timely updates about changes we are making to help all customers.

About The Dayton Power and Light Company

The Dayton Power and Light Company is the principal subsidiary of DPL Inc. (DPL), a regional energy provider and an AES company. DPL's primary subsidiaries include The Dayton Power and Light Company. The Dayton Power and Light Company, a regulated electric utility, provides service to over 527,000 customers in West Central Ohio. For more information about the company, please visit www.dplinc.com. Connect with DP&L at www.twitter.com/dpltoday, www.linkedin.com/company/dayton-power-and-light, and at www.facebook.com/DPLToday.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world's changing power needs. Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets.  To learn more, please visit www.aes.com.  Follow AES on Twitter @TheAESCorp.

View original content to download multimedia:http://www.prnewswire.com/news-releases/dpl-announces-new-options-to-assist-customers-due-to-covid-19-and-return-to-standard-operations-301111488.html

SOURCE Dayton Power and Light

ARLINGTON, Va., Aug. 10, 2020 /PRNewswire/ -- The AES Corporation (NYSE: AES) announced today that its subsidiary, AES Gener, reached an agreement for the early termination of two tolling agreements (Power Purchase Agreements, PPAs) with the 558 MW Angamos coal-fired plant in Chile.  Per this agreement, the PPAs will cease in August 2021.  This year, Angamos will receive a payment of $720 million, primarily reflecting the present value of fixed charges through 2029, as stipulated in the PPAs.

"As a result of this agreement, AES Gener is accelerating all future payments from two of its long-term coal generation contracts, for a total of $720 million," said Andrés Gluski, AES President and Chief Executive Officer.  "This transaction also expedites the timeline of AES Gener's decarbonization program, while providing additional funding for AES Gener's current backlog of 2 GW of renewable projects."

"After paying down debt to strengthen its balance sheet and investment grade ratings, AES Gener will use the remaining proceeds of approximately $200 million to fund its renewable growth," said Gustavo Pimenta, AES Executive Vice President and Chief Financial Officer.  "This announcement demonstrates that the real value of AES Gener's businesses is in its long-term contracts and customer relationships, as the company transforms its portfolio, while delivering sustainable and growing earnings." 

As of 2022, Angamos will be fully merchant and once the system no longer requires the plant to ensure the reliability of the grid, AES Gener will proceed to shut it down, having fully recovered its expected return and investment.

This agreement is subject to certain conditions to be satisfied by August 31, 2020 and Angamos receiving the net sum of $720 million this year.

AES is reaffirming its 2020 guidance, expectations and average annual growth rate target through 2022.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company.  We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities.  Our workforce is committed to operational excellence and meeting the world's changing power needs.  Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets.  To learn more, please visit www.aes.com.  Follow AES on Twitter @TheAESCorp.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company's website at www.aes.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/aes-announces-acceleration-of-future-payments-of-720-million-from-two-long-term-contracts-at-aes-gener-301108814.html

SOURCE The AES Corporation

ARLINGTON, Va., Aug. 6, 2020 /PRNewswire/ --

Strategic Accomplishments

• During the second quarter, agreed to sell 2.0 GW of capacity, reducing generation from coal by 11 percentage points to 34% of total generation and expect to be below 30% by year-end 2020
• Signed or awarded 852 MW of new renewables and energy storage, for a total of 1.5 GW in year-to-date 2020
• Total backlog of renewables awarded, under signed PPAs or under construction of 6.2 GW
• Fluence maintained its global lead in the energy storage market with a total backlog of 1.6 GW as of the end of the second quarter

Q2 2020 Financial Highlights

• Overall market demand trends better than expected and collections remain in line with historic levels
• Maintained strong liquidity of $3.5 billion
• Diluted EPS of ($0.13), compared to $0.02 in Q2 2019
• Adjusted EPS¹ of $0.25, compared to $0.26 in Q2 2019

Financial Position and Outlook

• As of June 30, 2020, the Company comfortably exceeded targeted investment grade ratios and is on track to attain a second investment grade rating by year-end 2020
• Reaffirming 2020 guidance and expectations, as well as 7% to 9% average annual growth target through 2022
• Remain committed to growing dividend by 4% to 6% annually, subject to Board approval

The AES Corporation (NYSE: AES) today reported financial results for the quarter ended June 30, 2020.

"Our strong quarterly results demonstrate the resiliency of our core business model of long-term contracted generation with credit-worthy offtakers," said Andrés Gluski, AES President and Chief Executive Officer.  "Since our last call, we added 852 MW to our pipeline of renewable projects, increasing our backlog to 6.2 GW.  At the same time, we consolidated our global lead in energy storage through Fluence, which launched its sixth-generation product.  Finally, by growing renewables and signing agreements to sell 2.0 GW of coal-fired generation, we are well on our way toward reducing our total generation from coal to less than 30% by the end of this year."

"Our solid financial performance in the second quarter highlights once more the quality and resilience of our existing business model. Collections have remained stable and our assets continued to play a critical role in the markets where we operate," said Gustavo Pimenta, AES Executive Vice President and Chief Financial Officer. "Based on our year-to-date results and our outlook for the remainder of the year, we remain optimistic that we will attain a second investment grade rating before the end of this year, and we are reaffirming our 2020 guidance and expectations, as well as our 7% to 9% average annual growth through 2022."

Key Q2 2020 Financial Results

Second quarter 2020 Diluted Earnings Per Share from Continuing Operations (Diluted EPS) was ($0.13), a decrease of $0.15 compared to second quarter 2019, primarily reflecting the $0.10 impact from higher impairments and losses on asset sales in 2020.  Second quarter 2020 results also include the impact from lower contributions from the US and Utilities Strategic Business Unit (SBU), partially offset by higher contributions from the South America SBU.

Second quarter 2020 Adjusted Earnings Per Share¹ (Adjusted EPS, a non-GAAP financial measure) was $0.25, a decrease of $0.01 compared to second quarter 2019, primarily reflecting the performance at the Company's SBUs, which also drove Diluted EPS.

Detailed Strategic Overview

AES is leading the industry's transition to clean energy by investing in sustainable growth and innovative solutions. The Company is taking advantage of favorable trends in clean power generation, transmission and distribution, and LNG infrastructure to deliver superior results.

Sustainable Growth: Through its presence in key growth markets, AES is well-positioned to benefit from the global transition toward a more sustainable power generation mix.

• In year-to-date 2020, the Company completed construction of 1,437 MW of new projects, including:
• 1,299 MW Southland Repowering project in Southern California;
• 100 MW Vientos Bonaerenses wind facility in Argentina;
• 28 MW of solar and solar plus storage in the US at AES Distributed Energy; and
• 10 MW Alfalfal Virtual Reservoir energy storage facility in Chile.
• In year-to-date 2020, the Company was awarded or signed 1,537 MW of renewables and energy storage under long-term Power Purchase Agreements (PPA):
• 589 MW of energy storage, solar and solar plus storage in the US;
• 581 MW of wind and solar at AES Gener in Chile and Colombia;
• 187 MW of wind at AES Tiete in Brazil;
• 109 MW of wind in Mexico; and
• 71 MW of wind and solar in Panama.
• The Company's backlog of 6,191 MW of renewables now includes:
• 2,092 MW under construction and expected on-line through 2021;
• 3,683 MW signed under long-term PPAs; and
• 416 MW awarded.
• The Company is on track to reduce its coal-fired generation to below 30% of total generation volume by year-end 2020 (proforma for asset sales announced in 2020) and to less than 10% by year-end 2030.
• In the second quarter of 2020, the Company signed agreements to sell three coal-fired plants (2,000 MW) in India and the Dominican Republic, which will decrease the Company's generation from coal by 11 percentage points, to approximately 34% of its total generation.
• In August 2020, the Company acquired an additional 18.5% interest in AES Tiete in Brazil, bringing its total interest to 43%.
• This transaction will strengthen the Company's renewable portfolio and reinforces the substantial progress the Company is making toward achieving its aggressive decarbonization targets.

Innovative Solutions: The Company is developing and deploying innovative solutions such as battery-based energy storage, digital customer interfaces and energy management.

• Fluence, the Company's joint venture with Siemens, is the global leader in the fast-growing energy storage market, which is expected to increase by 15 to 20 GW annually.
• Fluence has a total backlog to 1.6 GW.
• In July 2020, the Company acquired a 25% stake in 5B, a prefabricated solar solution provider whose patented technology allows solar projects to be installed up to three times faster, while using half the land to achieve the same solar output.

Superior Results: By investing in sustainable growth and offering innovative solutions to customers, the Company is transforming its business mix to deliver superior results.

• The Company has a resilient and diversified portfolio of electric generation and utilities with credit-worthy offtakers and an average contract life of 14 years.
• As of June 30, 2020, the Company had $3.5 billion of available liquidity. This includes $2.2 billion of cash and cash equivalents, restricted cash and short-term investments, as well as $1.3 billion available under committed credit lines.

Guidance and Expectations¹

The Company is reaffirming its 2020 guidance, expectations and average annual growth rate target through 2022.

Non-GAAP Financial Measures

See Non-GAAP Measures for definitions of Adjusted Earnings Per Share and Adjusted Pre-Tax Contributions, as well as reconciliations to the most comparable GAAP financial measures.

Attachments

Condensed Consolidated Statements of Operations, Segment Information, Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Cash Flows, Non-GAAP Financial Measures and Parent Financial Information.

Conference Call Information

AES will host a conference call on Thursday, August 6, 2020 at 9:00 a.m. Eastern Daylight Time (EDT).  Interested parties may listen to the teleconference by dialing 1-888-317-6003 at least ten minutes before the start of the call. International callers should dial +1-412-317-6061.  The Conference ID for this call is 9724268.  Internet access to the conference call and presentation materials will be available on the AES website at www.aes.com by selecting "Investors" and then "Presentations and Webcasts."

A webcast replay, as well as a replay in downloadable MP3 format, will be accessible at www.aes.com beginning shortly after the completion of the call.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company.  We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world's changing power needs. Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2019  Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2019 Annual Report on Form 10-K filed February 27, 2020 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company's website at www.aes.com.