The AES Corporation (AES) Proxy Filing summary

Executive summary

• A transaction is proposed in which a Consortium will acquire the company, aiming to maximize value for stockholders and support long-term growth, especially beyond 2027.

• The Consortium, led by Global Infrastructure Partners and EQT, will provide capital and strategic support, with no leverage used in the acquisition.

• The transaction is expected to close in late 2026 or early 2027, pending stockholder and regulatory approvals.

• The company will continue to operate independently until the transaction closes, with no immediate changes to operations, contracts, or customer relationships.

Voting matters and shareholder proposals

• Stockholder approval is required for the transaction to proceed, and a proxy statement will be filed with the SEC.

• Investors are urged to read the proxy statement and related materials for important information about the transaction.

Board of directors and corporate governance

• The Consortium will work closely with the current management team and board to support ongoing strategic priorities and long-term value creation.

• Governance rights within the Consortium are equally shared by GIP and EQT, with CalPERS and QIA holding minority interests.