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AES Announces Reorganization, Discloses Impairment And Reaffirms Guidance

The Company reaffirmed its 2012 cash flow and Adjusted EPS guidance at the low end of the range as previously disclosed, based on foreign exchange and commodity prices as of September 30, 2012. “Despite challenging market conditions, we continue to expect modest earnings growth next year, following 17% to 21% growth this year,” said Tom O’Flynn, AES Executive Vice President and Chief Financial Officer. “We remain committed to delivering a competitive total shareholder return and will provide more color on the impact of DPL and other factors to our total return target on our November 7, 2012 earnings call.”

About AES

The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 27 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 27,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2011 revenues were $17 billion and we own and manage $45 billion in total assets. To learn more, please 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 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 achievements of planned productivity improvements and incremental growth investments at normalized investment levels and rates of return consistent with prior experience.

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