X0206 3 2018-09-18 0 0000874761 AES CORP AES 0001754411 Rubiolo Juan Ignacio 4300 WILSON BLVD. ARLINGTON VA 22203 1 VP, MCAC SBU President Common Stock 15816 D IRP Unit Common Stock 3139 D Includes Restricted Stock Unit ("RSU") awards granted pursuant to The AES Corporation 2003 Long Term Compensation Plan, with such awards vesting in three equal annual installments from the date of grant if certain continuing employment conditions are satisfied. If such conditions are satisfied, each RSU entitles the holder to one share of AES Common Stock for each RSU granted. These units were awarded pursuant to the International Retirement Plan (the "IRP"). Generally, units under the IRP are paid out in cash following termination of employment or later per the IRP document. Each unit represents a hypothetical AES investment equal to one share of AES Common Stock, and units under the IRP are 100% vested upon award. /s/ Juan Ignacio Rubiolo 2018-09-28