AES Announces Commitment to Adopt Recommendations of the Task Force on Climate-Related Financial Disclosures

April 3, 2018

ARLINGTON, Va.–(BUSINESS WIRE)–The
AES Corporation (NYSE: AES) today announced its commitment to adopt
the recommendations of the Task Force on Climate-related Disclosures
(TCFD or Task Force), including an analysis of the impacts of a 2°
Celsius scenario on the Company’s strategy and business.

“Our commitment to adopt the recommendations of the Task Force
represents the next step in our climate-related disclosures. Over the
years, we have been recognized as a leading company with respect to our
sustainability efforts and reporting by third parties, including by CDP,
FTSE4Good and RobecoSam,” said Andrés
Gluski, AES President and Chief Executive Officer. “Bolstering our
climate-related disclosures, and including them in our financial
reports, will allow investors to enhance their analysis of risks and
opportunities associated with climate change.”

AES recently established a goal to reduce its carbon intensity (tons of
carbon dioxide/MWh) by 50% from 2016 to 2030. The Company has already
taken steps that are expected to reduce its carbon intensity by 25%, or
20 million tons of carbon dioxide emissions, from 2016 to 2020,
including:

The sale or retirement of 4.3 GW of merchant coal-fired generation,
representing 37% of the Company’s coal-fired capacity;
The acquisition of 2.3 GW of renewable generation capacity with
long-term contracts, including sPower, the largest independent solar
developer in the United States; and
The formation of the Fluence energy storage joint venture with Siemens.

To underscore the importance of this commitment, AES has formed a
high-level committee with members of the Company’s Executive Leadership
Team, including Legal, Corporate Strategy and Risk, and Finance, with
the responsibility of adopting the recommendations of the TCFD.

About AES

The AES Corporation (NYSE: AES) is a Fortune 200 global power company.
We provide affordable, sustainable energy to 15 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
2017 revenues were $11 billion and we own and manage $33 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 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 achievements of
planned productivity improvements and incremental 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’ 2017 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 2017 Annual Report on
Form 10-K dated on or about February 27, 2018 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.