AES Panama Investor Presentation

AES in Panama Snapshot Company Overview -> Largest energy supplier in Panama: 41% market share in Q1 2021 in terms of energy generation Only LNG Terminal in the country and Central America Financial Highlights USD mm 2018 Revenues 2019 EBITDA 2020 2018 2019 2020 AES Panama $363.4 $338.2 $291.6 $137.3 $99.8 $119.1 →> Comprised of 4 legal entities, with 1,141 MW of Installed Capacity AES →> Credit Rating: Baa3 (stable)/BBB- (stable) (Moodys/Fitch) 112.4 27.5(1) 90.0 82.5 2.5(1) 69.5 Changuinola -> US$ 2,470M in combined assets as of Dec. 2020 Gas Natural Atlántico 86.7 288.3 232.2 12.6 68.7 64.5 →> With over 20 years of growing and investing in Panama Costa Norte 21.9 37.6 43.2 12.8 31.3 35.1 Simplified Corporate Structure aes Inversiones Bahia AES Colon Gas Natural Atlántico 49.9% 50.1% 100% AES Global Power Holdings 80% 100% Issuer AES Panama Generation Holdings SRL 49.1% 50.9% Costa Norte LNG Terminal SRL AES Changuinola SRL 20% AES Panama SRL (1) AES Changuinola was closed for operations during most part of 2019, due to the concrete re-lining of the Changuinola tunnel performed between January 2019 and January 2020 Panama Government aes

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