X0306 4 2015-02-20 0000874761 AES CORP AES 0001576811 Virag Sharon 4300 WILSON BOULEVARD ARLINGTON VA 22203 1 VP, Controller Common Stock 2015-02-20 4 A 0 8936 A 31066 D Common Stock 2015-02-21 4 F 0 864 11.89 D 30202 D Common Stock 3250 I By 401(k) Plan Stock Option (Right to Buy) 11.89 2015-02-20 4 A 0 66406 0 A 2025-02-20 Common Stock 66406 66406 D Units 2015-02-20 4 A 0 2764 11.89 A Common Stock 2764 2764 D This Restricted Stock Unit award ("RSU") was granted pursuant to The AES Corporation 2003 Long Term Compensation Plan and will vest in three equal annual installments beginning on February 20, 2016, 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. Reflects tax withholding in connection with the vesting and settlement of one third of the RSUs granted in February 2014. This includes a 3% (of base salary) discretionary retirement savings award granted pursuant to the AES Retirement Savings Plan (the "Plan") as determined by The AES Corporation Board of Directors on February 20, 2015 subject to IRS contribution limits. The closing stock price on February 20, 2015 was used to determine the number of shares awarded. In the aggregate between May 15, 2014 and February 20, 2015, this reporting person acquired 858 shares of AES Common Stock under the Plan, which are included in this amount. This information is based on a plan statement dated February 20, 2015. This stock option award was granted pursuant to The AES Corporation 2003 Long Term Compensation Plan and will vest in three equal annual installments if certain continuing employment conditions are satisfied. If such conditions are satisfied, the first installment becomes exercisable on February 20, 2016, and the next two installments become exercisable on February 20, 2017 and February 20, 2018, respectively. These units were awarded pursuant to the Restoration Supplemental Retirement Plan (the "Restoration Plan"). Generally, units under the Restoration Plan shall be paid out in cash following termination of employment or later as per the terms of the Restoration Plan document. Each unit represents a hypothetical AES investment equal to one share of AES Common Stock and units under the Restoration Plan are 100% vested upon award. /s/ Sharon Virag 2015-02-24