AES CORP — Director's Dealing 2026

Feb 24, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AES CORP (AES)
CIK: 0000874761
Period of Report: 2026-02-20

Reporting Person: Coughlin Stephen (EVP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-20	Common Stock	A	40461	—	Acquired	207924	Direct
2026-02-20	Common Stock	A	36074	—	Acquired	243998	Direct
2026-02-20	Common Stock	F	15425	$16.51	Disposed	228573	Direct
2026-02-20	Common Stock	F	4682	$16.51	Disposed	223891	Direct
2026-02-20	Common Stock	F	7073	$16.51	Disposed	216818	Direct

Footnotes

F1: This Restricted Stock Unit ("RSU") award was granted pursuant to The AES Corporation 2025 Equity and Incentive Compensation Plan and will generally vest in three annual installments on February 20, 2027, February 20, 2028, and February 20, 2029, subject to the reporting person's continued employment with AES on each such date and the terms and conditions of the award. Each RSU entitles the holder to one share of AES Common Stock.

F2: This Performance Stock Unit ("PSU") award was granted on February 24, 2023 pursuant to The AES Corporation 2003 Long Term Compensation Plan. After the prescribed three year performance period, the AES Board of Directors approved the performance value for the grant on February 20, 2026. Each earned PSU entitles the holder to one share of AES Common Stock.

F3: Reflects automatic tax withholding of shares in connection with the vesting and settlement of PSUs granted on February 24, 2023.

F4: Reflects automatic tax withholding of shares in connection with the vesting and settlement of one-third of the RSUs granted on February 22, 2024.

F5: Reflects automatic tax withholding of shares in connection with the vesting and settlement of one-third of the RSUs granted on February 21, 2025.