AES CORP — Director's Dealing 2011

May 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AES CORP (AES)
CIK: 0000874761
Period of Report: 2011-05-18

Reporting Person: HANRAHAN PAUL T (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-18	Common Stock	M	28100	$2.83	Acquired	293181	Direct
2011-05-18	Common Stock	S	19400	$12.53	Disposed	273781	Direct
2011-05-19	Common Stock	M	28100	$2.83	Acquired	301881	Direct
2011-05-19	Common Stock	S	19400	$12.81	Disposed	282481	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-18	Stock Option (Right to Buy)	$2.83	M	28100	Disposed	2013-02-12	Common Stock (28100)	Direct
2011-05-19	Stock Option (Right to Buy)	$2.83	M	28100	Disposed	2013-02-12	Common Stock (28100)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	56024	Indirect
Common Stock	110	Indirect
Common Stock	82068	Indirect

Footnotes

F1: The option exercises and reported sales were made pursuant to a 10b5-1 trading plan entered into on March 7, 2011.

F2: Between March 31, 2011 and May 18, 2011, the reporting person acquired an additional 279 shares of AES Common stock at an average price of $12.90 pursuant to The AES Retirement Savings Plan. This information is based upon a plan statement dated May 18, 2011.

F3: This option vested in two equal installments on February 12, 2004 and 2005.