AES Announces It Has Reaffirmed 2025 Guidance And Long-Term Growth Rate Targets

Strategic Accomplishments

• PPA backlog of 11.7 GW, including 5.3 GW under construction
  • Completed the construction of 643 MW of energy storage and solar; on track to add a total of 3.2 GW of new projects to operations in full year 2025
  • Signed or awarded new long-term PPAs for 443 MW of solar and energy storage
• Received final regulatory approval for the 170 MW Crossvine solar-plus-storage project at AES Indiana
• With the sale of a minority stake in the AES Global Insurance Company (AGIC) for $450 million, achieved full year 2025 asset sale proceeds target of $400 to $500 million
• To fund the substantial growth at AES Ohio, closed on the sale of an approximate 30% indirect equity interest to a wholly-owned subsidiary of Caisse de dépôt et placement du Québec (CDPQ), with subsequent upgrade in credit ratings at AES Ohio
• Reaffirming 2025 guidance for Adjusted EBITDA1 of $2,650 to $2,850 million
  • Reaffirming annualized growth target of 5% to 7% through 2027, off a base of 2023 guidance
  • Reaffirming expectation for 2025 Adjusted EBITDA with Tax Attributes1,2 of $3,950 to $4,350 million
• Reaffirming 2025 guidance for Adjusted EPS3 of $2.10 to $2.26
  • Reaffirming annualized growth target of 7% to 9% through 2025, off a base of 2020 and 7% to 9% through 2027, off a base of 2023 guidance