AES Panama Investor Presentation

Electric Market Update Installed Capacity, Mar 2021 LNG Biogas 9% 0% Diesel 8% Bunker Generation by Technology, Mar 2021 LNG 21% Diesel Biogas 0% Generation by Company, Mar 2021 Others 7% ACP 4% Hydro AES Pma 11% 11% AES Chan 8% 16% Solar 9% Coal 5% Wind 7% Total Installed Capacity: 4.1GW Hydro 46% 0% Bunker 4% Solar 6% Coal 1% Wind 9% INTERENER Hydro 59% GY 9% AES UEP 1% GENA 0% IDEAL GANA 21% 3% ENEL MPSA 20% Total Generation: 2.5TWh 1% AES in Panama Market Clear market dominance in energy generation (41%) and installed capacity (29%) Dominant position maintained through low generation costs compared to the higher generation cost for other thermal power plants in Panama →>> Diversified portfolio of energy generation assets that performs well under weak and strong hydrology seasons Diversification in geographic position of assets helps mitigate hydrology risk and any potential transmission constraints →> Through AES Colón, owns and operates the only power plant with a combined cycle generator and the only LNG storage tank facility in the country The AES Colón Plant is usually among the first three thermal generation facilities to be dispatched after hydroelectric and renewable facilities aes

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