The AES Corporation (AES) Proxy Filing summary

Executive summary

• A consortium led by Global Infrastructure Partners (GIP) and EQT, with CalPERS and Qatar Investment Authority, agreed to acquire the company for $15.00 per share in cash, representing a 40.3% premium to the 30-day average share price prior to July 8, 2025, and an enterprise value of approximately $33.4 billion, including debt.

• The transaction aims to provide enhanced financial flexibility, accelerate growth as a clean energy platform, and address significant capital needs for investments beyond 2027.

• The company will become privately held upon closing, expected in late 2026 or early 2027, pending stockholder and regulatory approvals.

• The Board unanimously determined this transaction maximizes value for stockholders after a rigorous review of strategic options.

Voting matters and shareholder proposals

• The transaction is subject to approval by stockholders, as well as federal, state, and foreign regulatory approvals and other customary closing conditions.

• Stockholders are urged to read the forthcoming proxy statement and related materials for detailed information.

Board of directors and corporate governance

• The Board conducted a robust process, evaluating several parties, and unanimously approved the transaction.

• The company will remain headquartered in Arlington, Virginia, and maintain its current leadership team.

• Leadership changes announced include the appointment of Ricardo Falú as President and Juan Ignacio Rubiolo as Chief Operating Officer.