February 2017

PLATTS LNG CONFERENCE

HOUSTON, TX

AES Corporation: A Global Leading Power Company

Safe Harbor Disclosure

Certain statements in the following presentation regarding AES’ business operations may

constitute “forward-looking statements.” 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 accurate projections of future interest rates,

commodity prices and foreign currency pricing, continued normal or better levels of

operating performance and electricity demand 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 from

investments at investment levels and rates of return consistent with prior experience. For

additional assumptions see Slide 41 and the Appendix to this presentation. 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 including but not

limited to the risks discussed under Item 1A “Risk Factors” and Item 7: Management’s

Discussion & Analysis in AES’ 2014 Annual Report on Form 10-K, as well as our other SEC

filings. AES undertakes no obligation to update or revise any forward-looking statements,

whether as a result of new information, future events or otherwise.

AES Corporation: A Global Leading Power Company

US$39 bn in assets located across 17 countries

Total installed power generation capacity of 35,800 MW

Distribution networks with capacity to serve over 10 mm customers

6 GW of assets under construction

The AES Corporation (NYSE: AES) is a Fortune 200 global power

company

AES ANDRES LNG RECEIVING TERMINAL

Andres, Dominican Republic

319 MW combined cycle

generation

Re-gasification terminal with LNG

storage capacity of 160,000 m3

Cryogenic Distribution Terminal

34 kilometer gas pipeline to DPP

Operations since 2003

17 cargos delivered in 2016

Completed $10M terminal reconfiguration to allow re-loading of LNG into

vessel of 10km3 and up.

o Installed pumps to allow for loading of LNG at a rate of 1000cm/hour

o Upgraded jetty to allow for berthing of vessels of 10km3 and up

o First LNG re-load operation completed yesterday

AES COSTA NORTE LNG RECEIVING TERMINAL

PPAs: 350 MW with Distributors

Total investment: US $ 1,150 million

Investors: AES (50.1%) Inv.Bahia (49.9%)

COD: Mid 2018

Tank Completion: Mid 2019

Telfers Island, Colón, Panama

Installed capacity: 381MW net

Technology: Combined cycle (3 + 1)

Tank: 180,000 m3

Bulk re-loading and truck loading

capability

AES COSTA NORTE LNG RECEIVING TERMINAL

PANAMA CANAL

Atlántico

PANAMA PORTS

Terreno (20 Héctareas)

AES Power Block y GNL

Infraestructura

(Terminal + Tanque)

Proximity to Panama Canal entrance offers ideal location for vessel bunkering

Jamaica Curacao Aruba Guadeloupe Martinique St Lucia Barbados Caymans

Dominican

Republic 440 370 373 521 562 587 677 688

AES REGIONAL LNG DISTRIBUTION HUBS

Costa Rica Nicaragua Honduras El Salvador Guatemala

Panama 192 695 747 869 928

*distances in miles

LNG AVAILABILITY & PRICES TIED TO US GAS MARKET

Sabine Pass Cameron Freeport Corpus Christi Cove Point

~800 LNG cargos per year will flow

from the US by end 2019

AES Andres and Costa Norte are

the closest large scale receiving

terminals to the USGC*

* Not including Altamira, Mexico, which is not expected to import material quantities of LNG due to increased pipe importation from the US

4,900 miles to the UK

1,650 miles to the DR

3,700 mile to Pecem,

Brazil

14,000 miles to Japan

via Suez

9,000 miles to Japan via

Panama

~8 BCF/D or

~60MTA per year

~2 BCF/d or

~14 MTA

1,650 miles to Panama

DELIVERING SMALL SCALE LNG TO THE REGION

AES Small-Scale LNG Distribution

Infrastructure is Ready

ISO Containers – TODAY

Small Bulk Vessels – TODAY

LNG DELIVERY VIA ISO CONTAINERS

AES Andres currently configured to load LNG in ISO Containers

2 loading bays and a loading capacity of 68 m3/hour

Approximately 5,000 truck loadings per year serves a customer base of 65

manufacturers and 15,000 vehicles

More than 35,000 trucks equivalent filled in past 7 years or approximately 26

TBTU (~9 ships standard vessels), without any safety incident

AES Andres LNG ISO Containers Distribution

Proximity to an international ports. AES

will truck the ISO Containers one mile to

the port of Caucedo or 50 miles to Rio

Haina

ISO containers can be easily transported on

standard container vessels and offloaded

at any container port

LNG ISO CONTAINER VALUE CHAIN

$10M infrastructure reconfiguration: AES Andres has completed

the jetty modifications and added additional pumps to be capable of

re-loading LNG into vessels ranging in size from 10,000m3 and up.

ANDRES LNG TERMINAL RECONFIGURATION

* Estimated demand from plants of that size assuming a number of factors

AES Andres reconfiguration to load small vessels

COMPLETED

Small vessel fleet growing with existing carriers available

Yard availability and historically low prices for new-builds takes 2-

3 years for construction

ANDRES LNG TERMINAL RECONFIGURATION

* Estimated demand from plants of that size assuming a number of factors

PARTNERSHIP WITH ENGIE

ENGIE (formerly GDF Suez) and AES working together to develop

downstream markets in the region.

ENGIE brings to the partnership availability of long term LNG supply

and needed flexibility to manage downstream customer demand and

pricing needs.

ENGIE has secured long term liquefaction capacity for 4MTPA from

the Cameron LNG project in Louisiana, which is scheduled to begin

operations in 2018.

AES LNG DISTRIBUTION BUSINESS MODEL

AES will deliver LNG to the customer

ENGIE

Large Volume received

Storage for large deliveries

Credit / Balance sheet

Term structure and flexibility

LNG

Buyer

LNG

Buyer

LNG

Buyer

Smaller volume delivered

Smaller storage requirements

Flexible pricing structure and term

Infrastructure development

AES

THE CARIBBEAN EXPERIENCE

What are our potential future customers most concerned with?

1. Fuel savings

2. Environmental benefits

3. Security of supply

4. Reliability of operations

5. Volume flexibility

6. Footprint of storage and regas

7. Counterpart credibility and experience

8. End to end solution with one provider

9. Safety

10. Politics