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- AES CORPORATION PRESS RELEASE -

Fluence Battery Storage System Will Increase the Delivery of Reliable, Sustainable Energy for Southern California Customers

Long Beach, California -- January 27, 2021 -- The AES Corporation (NYSE: AES) has commenced operations of the Alamitos battery energy storage system (BESS), one of the world's largest battery storage systems in operation today. The BESS, a stand-alone energy storage facility for local capacity, will provide up to 400 megawatt-hours (MWh) of energy to ensure greener, smarter and more reliable power to Southern California Edison (SCE) customers, while also helping the State of California meet its sustainability goal of 100 percent carbon-free energy by 2045.

"With the commissioning of the Alamitos BESS, the State of California moves closer to its goal of a more sustainable and reliable energy future. AES is proud to work together with Southern California Edison to accelerate the adoption of this greener, smarter energy technology," said Mark Miller, AES Market Business Leader for California and AES Southland General Manager.

The AES Alamitos BESS will provide Southern California with reliable power during times of peak demand, while also supporting a cleaner energy future for SCE customers by enabling increased integration of renewable energy. The BESS technology at the Alamitos facility includes Advancion 5 batteries provided by Fluence, an AES and Siemens joint venture and the world's leading energy storage and technology provider. When fully charged, the batteries supply power to tens of thousands of homes in milliseconds.

"SCE sees a growing role for battery storage as California transitions to 100% clean renewable energy," said William Walsh, SCE Vice President of Energy Procurement and Management. "Battery storage will help integrate wind and solar resources into our grid and improve reliability."

As California moves forward with its transition to a greener energy future, renewables and energy storage will play a central role in the electricity generation mix across the state. AES recently announced the merger of sPower, a leading solar energy provider, into its AES Clean Energy business. AES Clean Energy now manages projects that are operational, under construction and under development, including the operation of approximately 2.5 GW of renewable projects with nearly half located in California and a contracted 2.6 GW pipeline nationwide with almost 20 percent of those projects in California. AES will continue to co-create and deliver smarter, greener energy solutions to enable Californians to achieve 24/7 carbon-free energy.

"Energy storage is the linchpin of a modern, resilient and sustainable electric grid," said John Zahurancik, Fluence's Chief Operating Officer. "Working with innovative power sector leaders like SCE and AES, Fluence is proud to deliver our advanced technologies to supply critical local power capacity in a mature urban area where it is most needed to bring clean, reliable and affordable power to homes and businesses in Southern California."

The AES Alamitos BESS is contracted under a 20-year power purchase agreement (PPA) with SCE and is located at the AES Alamitos Energy Center.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com.

About Fluence

Fluence, a Siemens and AES company, is the global market leader in energy storage technology, software and services, combining the agility of a technology company with the expertise, vision and financial backing of two well-established and respected industry giants. Building on the pioneering work of AES Energy Storage and Siemens energy storage, the company's goal is to create a more sustainable future by transforming the way we power our world. Providing design, delivery and integration, Fluence offers proven energy storage technology solutions that address the diverse needs and challenges of customers in a rapidly transforming energy landscape. The company currently has approximately 2.5 gigawatts of projects deployed or awarded across 24 countries and territories worldwide. Fluence topped the Navigant Research (now Guidehouse) utility-scale energy storage leaderboard in 2018 and 2021, and was named one of Fast Company's Most Innovative Companies in 2019. Its sixth-generation Tech Stack won Commercial Technology of the Year at the 22nd annual S&P Global Platts Global Energy Awards. To learn more about Fluence, please visit: fluenceenergy.com

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