The AES Corporation · NYSE:AES
The AES — Investor Presentation (December 2024)
14 slides from The AES's investor presentation, December 2024
Slide 1: The AES Corporation
The AES Corporation December 2024
Slide 2: Safe Harbor Disclosure
CONTAINS FORWARD-LOOKING STATEMENTS 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 fi
Slide 3: AES' Leading Position in the Energy Transition
CONTAINS FORWARD-LOOKING STATEMENTS AES’ Leading Position in the Energy Transition #1 Seller of Two of the Renewable Power Fastest Growing to Corporate Utilities in the US Customers1 Gas Generation & Focusing on Market Leading Innovation LNG Infrastructure Drives Competitive Providing Steady Advanta
Slide 4: Investment Grade Rated with Stable Outlook by All Three Major Credit Ratings Agencies
CONTAINS FORWARD-LOOKING STATEMENTS Investment Grade Rated with Stable Outlook by All Three Major Credit Ratings Agencies Agency Rating Reaffirmation Date Baa3 December 3, 2024 Stable BBB- July 9, 2024 Stable BBB- June 28, 2024 Stable 4
Slide 5: AES is Focused on Working with Corporate Customers, Including Major Tech Companies
CONTAINS FORWARD-LOOKING STATEMENTS AES is Focused on Working with Corporate Customers, Including Major Tech Companies 3.5 GW of New Long-Term PPAs Signed or Awarded in YTD 20241 Other Corporate Mining Utilities2, 29% Corporate, 71% Technology 1. As of November 1, 2024. 5 2. Includes the New York St
Slide 6: Resilient Source of Demand for Renewables Given Need for New Power
CONTAINS FORWARD-LOOKING STATEMENTS Resilient Source of Demand for Renewables Given Need for New Power US Data Center Demand1 2023-2030 (TWh) à Renewables well-positioned to serve significant demand due to: • Shorter time to power than any other wth major source of new power o l Gr a 606 nnu • Compe
Slide 7: Backlog of Long-Term Contracted Projects Provides Visibility to EBITDA Growth
CONTAINS FORWARD-LOOKING STATEMENTS Backlog of Long-Term Contracted Projects Provides Visibility to EBITDA Growth Vast Majority of 12.7 GW Backlog Expected Online Through 2027 8.7 GW of Signed PPAs, Not 31% 69% 4 GW Under Construction Yet Under Construction Backlog with Equipment, Construction & Fin
Slide 8: Domestic Supply Chain Provides a Competitive Advantage
CONTAINS FORWARD-LOOKING STATEMENTS Domestic Supply Chain Provides a Competitive Advantage à 100% of solar panels for our backlog in-country or contracted to be domestically- manufactured through 2027 à Secured long-lead equipment, such as transformers and high voltage breakers through 2027 à No imp
Slide 9: AES Indiana & AES Ohio are Two of the Fastest Growing Utilities in the US
CONTAINS FORWARD-LOOKING STATEMENTS AES Indiana & AES Ohio are Two of the Fastest Growing Utilities in the US; Well-Situated for Data Center Growth Significant Increase in Investment at Both Utilities Year-Over-Year ($ in Millions) à Recently launched an RFP for 3 GW of $1,200 new generation to supp
Slide 10: Financial Execution
CONTAINS FORWARD-LOOKING STATEMENTS Financial Execution à Backlog provides clear path to EBITDA growth Adjusted à Scale efficiencies enhance growth EBITDA1 à Asset sale dilution front-loaded in growth plan à Investment Grade rated by all three major agencies à Prioritizing projects with higher retur
Slide 11: Appendix
CONTAINS FORWARD-LOOKING STATEMENTS Appendix Signed or Awarded Renewables Under Long-Term Contracts Slide 12 Assumptions & Definitions Slides 13-14 11
Slide 12: PPAs Signed or Awarded in YTD 2024
CONTAINS FORWARD-LOOKING STATEMENTS PPAs Signed or Awarded in YTD 2024 AES Equity PPA Length Project Location Technology Gross MW Expected COD1 Interest (Years) Solar 500 Bellefield 2 US-CA 75% 2H 2026 15 Energy Storage 500 West Camp Expansion US-AZ Wind 100 75% 2H 2025 20 Madison US-VA Solar 63 75%
Slide 13: Assumptions
CONTAINS FORWARD-LOOKING STATEMENTS Assumptions Forecasted financial information is based on certain material assumptions. Such assumptions include, but are not limited to: (a) no unforeseen external events such as wars, depressions, or economic or political disruptions occur; (b) businesses continu
Slide 14: Definitions
CONTAINS FORWARD-LOOKING STATEMENTS Definitions Adjusted EBITDA, a non-GAAP measure, is defined by the Company as earnings before interest income and expense, taxes, depreciation and amortization, adjusted for the impact of NCI, interest, taxes, depreciation and amortization of our equity affiliates