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    Gustavo “Guga” Garavaglia named as CFO of US Utilities, including AES Indiana

    Gustavo “Guga” Garavaglia named as CFO of US Utilities, including AES Indiana
    Indianapolis

    The AES Corporation (NYSE: AES) has named Gustavo “Guga” Garavaglia, CFO of US Utilities, including AES Indiana and AES Ohio.

    Garavaglia is an impactful and trusted leader who previously spent 12 years with AES, delivering strong financial performance and strengthening the finance team and culture. He was instrumental in helping to negotiate and sign key renewables transactions in Indiana. The company sustainability commitments include adding up to 1,300 megawatts (MW) of wind, solar and battery energy storage from new procurements in the next five years.

    “We are thrilled to welcome back Guga to the AES family as he is a proven leader focused on improving outcomes for our people, our customers, and our community,” said Ken Zagzebski, President, AES Utilities. Guga strengthens our leadership team during a time when we are making major investments, improving reliability for our customers and converting to a more sustainable generation fleet.” 

    Garavaglia worked in various markets during his AES career including Panama and Brazil, while also helping to support the Dominican Republic, Mexico, El Salvador and Puerto Rico. In 2020, he was named CFO of the Year by the Indianapolis Business Journal.

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    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 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, rates of return consistent with prior experience and the COVID-19 pandemic.

    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’ 2022 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, except where required by law.

    Any Stockholder who desires a copy of the Company’s 2022 Annual Report on Form 10-K filed March 1, 2023 with the SEC may obtain a copy (excluding the exhibits thereto) 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 Annual Report on Form 10-K may be obtained by visiting the Company’s website at www.aes.com.

    Website Disclosure

    AES uses its website, including its quarterly updates, as channels of distribution of Company information. The information AES posts through these channels may be deemed material. Accordingly, investors should monitor our website, in addition to following AES’ press releases, quarterly SEC filings and public conference calls and webcasts. In addition, you may automatically receive e-mail alerts and other information about AES when you enroll your e-mail address by visiting the “Subscribe to Alerts” page of AES’ Investors website. The contents of AES’ website, including its quarterly updates, are not, however, incorporated by reference into this release.

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    Reproduction in whole or in part in any form or medium without the express written permission of The AES Corporation is prohibited. AES and the AES logo are trademarks of The AES Corporation. 

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