PRESENTATIONJ.P. Morgan Southern Cone & Andean Region Opportunities Conference

June, 2020

CORPORATE

210MWAdded since launch of Greentegra

2.1GWOf green capacity

to be added by 2024 (2)

5,304MWOf installed capacity(1)

Leading Energy Producer in Chile

~10 yearsAverage life of PPAs(4)

Providing Stable Cash Flows

66.7%Controlled by

The AES CorporationMember of Chile and MILA Indices

LEADING GENERATION COMPANY IN LATIN AMERICA

AES GENERAT A GLANCE

Baa3/BBB-/BBB-Stable Outlook

(Moody’s/S&P/Fitch)

4.2x (3)

Net Debt/LTM 1Q-20 EBITDA

$794mmLTM 1Q-20 EBITDA

Launched Greentegra Strategy to incorporate Renewables leveraging on existing commercial relationships

(1) Includes 5,242MW of installed capacity and 62MW of Battery Energy Storage System as of 19/6/2020. (2)Includes Operational assets, projects under construction, and projects under development. (3) Consolidated metric, including equity credit (4)Average remaining life on PPAs in Chile as of 31/03/2020.

2

LEADING GENERATION COMPANY IN LATIN AMERICA

AES GENERKEY INVESTMENT CONSIDERATIONS

1 RESILIENT BUSINESS

2 MARKET LEADER POSITION

3 DIVERSIFIED PORTFOLIO

4 HIGH QUALITY LONG TERM PPAs

5 GREENTEGRA TRANSFORMATIONAL STRATEGY

6 ROBUST CAPITAL STRUCTURE & STRONG FINANCIALS

3

RESILIENT BUSINESS

COVID-19UPDATE

CARBON INTENSITYREDUCTION

5

SAFETYOF OUR PEOPLE

RELIABLEENERGY SUPPLY

WORK ALL

TOGETHER

COVID-19 UPDATE

AES GENERGUIDING PRINCIPLES

6

1,319100%

High Risk personnel

WORKING REMOTELY

100%Non-Operational personnel

WORKING REMOTELY

53%of AES Gener personnel

ON SITE

AES GENER PEOPLE

6Active COVID-19

Cases

12Total COVID-19

Cases

COVID-19 UPDATE

OUR PEOPLESAFETY IS ALWAYS FIRST

Status as of 21/6/2020

AES Gener

6,535CONTRACTORS 93

Active COVID-19

Cases

213Total COVID-19

Cases

CONTRACTORS

7

100% of Our Plants

OPERATING NORMALLY

+30 days of Fuel Supply

ASSURED

66%Of our Operations Personnel

WORKING ON SITE

COVID-19 UPDATE

OUR OPERATIONSCONTINUE PROVIDING RELIABLE ENERGY

As of May 7, 2020

8

ALTO MAIPO4,612 WORKERS

Contingency Plan to mitigate

effect of lockdown

WINDPROJECTS

Progress at Los Olmos and

Mesamávida moderately impacted

SOLAR PROJECT

Andes Solar II nearly complete

with limited impact

COVID-19 UPDATE

OUR PROJECTSLIMITED IMPACTS

As of May 31, 2020

9

$628

million

$378mnCASH &

CASH EQUIVALENT

60%

$250mnUNDRAWN COMMITTED

FACILITIES

40%

COVID-19 UPDATE

OUR LIQUIDITYSTRONG TO OVERCOME DISRUPTIONS

As of March 31, 2020

89% CHILE

96% INVESTMENT GRADE

Markets

42%COLOMBIA

INVESTMENT GRADE PROFILE

Customers

A+/A1 BBB-/Baa2

Vulnerable Household Relief¹

Local CPI Indexation

S/Ca

REVENUEBY MARKET

76% 20% 4%

Chile -$1.5mn/year

Argentina -$0.5mn/month

EBITDA IMPACT

Regulatory Changes

COVID-19 UPDATE

OUR MARKETSCOUNTRY AND COUNTERPARTY RISK

(1) Based on latest version of bill as of May 7, 202010

Chile -$1.5mn -2.6%

Colombia -$2.5mn -7.6%

Argentina -$0.3mn -7.6%

COVID-19 UPDATE

OUR CONTRACTSDEMAND RISK

Chile 100% 24%

Colombia 80% 2%

Argentina 60% 3%

HIGHLY CONTRACTED

Business with Robust Take or Pay PPAs

89% CONTRACTED

LIMITED

Volume Risk

EBITDA SENSITIVITY

10% Demand Decline per monthContract

Level

Consolidated

Contract Sales

exposed to

Volume risk¹

11

May Demand

Δ YoY²

(1) 2019 Consolidated contract sales volume exposed to demand risk / total sales volume (2) Preliminary May 2020 systemwide figures

REVENUEBY SOURCE

COVID-19 UPDATE

OUR CURRENCIESFX RISK

REVENUEBY CURRENCY

79% DOLLAR DENOMINATED

Chile +$0.5mn

Colombia -$0.3mn

Argentina -$0.01mn

CASH FLOW SENSITIVITY

10% Devaluation per monthFIXED Costs

LOCAL CURRENCIES HELP TO

OFFSET DEVALUATION

FULLY DOLLARIZED

Revenues in Chile

ACTIVE HEDGE STRATEGY

in Colombia

12

COVID-19 UPDATE

OUR DISCRETIONARY COSTSHELPING MITIGATE POTENTIAL COVID-19 IMPACTS

13

$11-14mn

NON-ESSENTIAL COST MANAGEMENT

Accelerated Digital

Transformation

Flexible & Remote

Work

Virtual Collaborative

Networks

COVID-19 UPDATE

OUR TRANSFORMATIONACCELERATED DUE TO CORONAVIRUS

14

LEADINGPOSITION

Third largest

hydro plant

CHILE (3,620MW)(1)

COLOMBIA (1,041MW)

ARGENTINA (643MW)

Leading

Energy

Producer

Most efficient

combined cycle+Only International T-Line

connecting

HIGH-QUALITY ASSET PORTFOLIO

LEADING POSITIONIN ATTRACTIVE MARKETS

(1) Includes 62MW of Battery Energy Storage System in operation.16

DIVERSIFIED PORTFOLIO

69%

24%

7%

57%

13%

30%

22%

78%

DIVIERSIFIED

PORTFOLIOBY GEOGRAPHY, CUSTOMER TYPE AND TECHNOLOGY

EBITDA

$794mm

27.5TWh/y

5,304MW

Argentina

Chile

Contract Sales

Coal

Renewables

Natural Gas

Colombia

CUSTOMERS TECHNOLOGY(1)

Spot

LTM 1Q-2020 Figures(1) Includes Battery Energy Storage System (BESS)

18

COMMERCIAL STRATEGYHIGH QUALITY LONG TERM PPAs

CHILE COLOMBIA ARGENTINA

Energy Sales 16,083GWh

6,917GWh

4,470GWh

PPA Tennor Remaining Average Life

10-year 2 → 5-year 1-year

EBITDA $549mn $190mn $55mn

HIGHLY CONTRACTED

COMMERCIAL STRATEGYSTABLE CASH FLOWS SUPPORTED BY LONG-TERM CONTRACTS

2020

Contract Sales

Spot Sales

100%Contracted¹

LTM 1Q-20 Figures (1) Includes Rerouted Energy.

65%Contracted

20%Contracted

35%Spot

80%Spot

GREEN TRANSFORMATIONSTRATEGY UPDATE

STRATEGY EXECUTION UPDATE

GREENTEGRAULTIMATE OBJECTIVES

Transform AES Gener into a

LEADING RENEWABLE BUSINESS

in South America

GREEN

OUR CUSTOMERS

REDUCE

CARBON INTENSITY

STRENGTHEN

INVESTMENT GRADE

22

PROTECT

EXISTING VALUE

ENABLE

GREEN GROWTH

Delink existing PPAs from coal

physical assets

New long-term renewable PPAs to

support green capacity expansion

STRATEGY EXECUTION UPDATE

RENEWABLE TRANSFORMATIONENABLED BY OUR BUSINESS SOLUTIONS

23

ALLOW FOR EARLIER

COAL PHASE OUT

Coal plants merchant providing

reliability to the system

STRATEGY EXECUTION UPDATE

RENEWABLE TRANSFORMATIONTOWARDS A SUSTAINABLE LEADING COMPANY

2.1GW

8.9TWh/y

0.4bn

WIND

SOLAR

HYDRO

CHILE

COLOMBIA

CHILE

COLOMBIA

54%74% 90%

21%26% 10%

25%

GREEN

CONTRACTSRENEWABLE

CAPACITY¹

INCREMENTAL

EBITDA²

24(1)Capacity to be added by 2024 (2) Incremental EBITDA generated in 2024

STRATEGY EXECUTION UPDATE

GREENING OUR CUSTOMERSSUSTAINABLE EBITDA

0.8bn2017

1.0bn2024

GreentegraOffsets Legacy

Contract Roll-off

RENEWABLELT AUCTION

33% 66%

RENEWABLES

NON RENEWABLES

25

Ensuring sustainable Earnings & Dividends

STRATEGY EXECUTION UPDATE

REDUCING CARBON INTENSITYSUSTAINABLE PORTFOLIO

RENEWABLES

5.8GW2017

6.9GW2024-27%

CO2 Intensity

+152%RenewableCapacity

24% 51%

NON RENEWABLES

26

STRATEGY EXECUTION UPDATE

STRENGTHEN INVESTMENT GRADESUSTAINABLE LEVERAGE

NON-RECOURSE DEBT

RECOURSE DEBT

4.1X2017

3.4X2024

69%

RenewableEBITDA

DebtAmortization

64%36% 31%

Net Debt¹ / EBITDA

27(1) Includes Hybrid Debt Equity Credit

28

STRATEGY EXECUTION UPDATE

GROWTH CAPEX & FUNDINGSOURCES & USES¹

28

$400AVAILABLE CASH

Includes Cash from operations after debt & dividend payments

2019-2023

$150GREEN HYBRID BOND

2019

1.8bn

$750THIRD PARTY CAPITAL

$500CAPITAL INCREASE

(1) Excluding Alto Maipo Funding Sources

STRATEGY EXECUTION UPDATE

RENEWABLE TRANSFORMATIONSUPPORTED BY OUR SHAREHOLDERS

500mn

CAPITAL

INCREASEAPPROVED

66.7% 16.2%

17.1%

29

Hydro

Wind

Solar

Batteries

531 MW

10 MW

11 MW

73 MW 2,789 MW

240 MW

760 MW

UNDER

CONSTRUCTION

720MW

READY TO

BUILD

253MW

UNDER

DEVELOPMENT

3,789MW

178 MW

180 MW

IN OPERATION

SINCE GREENTEGRA

210MW

90 MW

110 MW

GROWTH PROJECT STATUS UPDATE

4,972 MW RENEWABLE PIPELINETO SUPPORT COMMERCIAL AGREEMENTS

PIPELINE

3030Capacity as of 21/6/2020

GROWTH PROJECT STATUS UPDATE

2.1GW GROWTH CAPACITYCAPEX & COD TIMELINE

Alto Maipo531MW

Los Olmos110MW

Mesamávida68MW

Chile Wind I250MW

Casa Eléctrica187MW

Los Cururos 110MW

Virtual Reservoir10MW

Campo Lindo73MW

Chile Wind II40MW

Apotolorru77MW

Castilla 21MW

Andes Solar IIa80MW

Andes Solar IIb180MW

Andes Solar IV170MW

Chile Wind III216MW

2019 2020 2021 2022 2023

131 90 961 460 480

550 810 970 630 140

31

MW

CAPEX FLEXIBILITYTO DEFER

$100 -140mn

CAPITAL STRUCTURE

MILESTONESACHIEVED SINCE LAUNCH OF GREENTEGRA IN 2018

32

De-risked

ALTO MAIPO1st GREEN

HYBRID BONDin the Americas

$531mn NON-STRATEGIC

ASSETSALES

$561mnDEBT PREPAYMENT

~$1.9bn DEBT REFINANCING

$500mn

CAPITAL INCREASEAPPROVED

CAPITAL STRUCTURE & FINANCIALS

AES GENER

EBITDA GENERATIONSUPPORTED BY UNIQUE LONG-TERM CONTRACTS

$549mn

$179mnCONVENTIONAL PPAsEnergy and Capacity

$370mnTOLLING AGREEMENTSEnergy and Capacity

$794mn1Q-2020

LTM EBITDA

7%

69%

24%

Argentina

Colombia

Chile

34

12-yearAvg. Remaining Life

7-yearAvg. Remaining Life

146

39 22 27 31

136

19

1,042

100

105 114147 133

151

160

1,802

246

144136

174 164

287

179

2,844

AES GENER

DEBT PROFILENO SIGNFICANT MATURITIES IN THE SHORT TERM

$4.2bn

AVERAGE COST

AVERAGE LIFE

NET DEBT ¹/ EBITDA RATE

6.1%Years

22Years

4.2x(Consolidated)

91%Fixed Rate

Recourse Debt

$1,463mn35%

Amortization Schedule ($mn)

1.5x(Recourse Debt)

Non-Recourse Debt

$2,711mn65%

2020 2021 2022 20252023 2024 2026 2027/2079

(1) Includes Hybrid Debt $500mn Equity Credit 35

AES GENER

LEVERAGE PROFILEAS OF MARCH 31, 2019

1,000 1,000

552

875

1,284

4,174

1,463

Non-Recourse Debt

Consolidated Debt Angamos Cochrane Alto Maipo Recourse Debt

794 136 156 504

4.8x 3.8x 5.1x 2.5x

4.2x 1.5x

LTM 1Q-20EBITDA

Net Debt/EBITDA

Hybrid Debt

Net Debt¹/EBITDA

(1) Includes Hybrid Debt $500mn Equity Credit 36

APPENDIX

COAL to GREEN

ENERGY SOLUTION EXAMPLE

TRANSFORMATIONAL STRATEGY

COAL TO GREENBUSINESS SOLUTION EXAMPLE

Tolling Agreements Coal to Green

Fixed Charge 50 Fixed Charge 50

Variable Charge 40 Green PPA 40

Green Tax Passthrough 5 Green Tax Passthrough 0

Revenues 95 Revenues 90

Variable Cost 40 Variable Cost 0

Green Tax Cost 5 Green Tax Cost 0

Costs 45 Costs 0

Margin 50 Margin 90

Figures for example purposes only, not meant to be a representation of individual contract details.38

APPENDIX

PORTFOLIO

INFORMATION

HIGH-QUALITY ASSET PORTFOLIO

LEADING POSITIONDIVERSIFIED BY TECHNOLOGY AND GEOGRAPHY

Capacity as of 19/6/2020

Note: Figures may not add up to total capacity due to rounding

LEADING ENERGYPRODUCER IN CHILE (3,558MW)

MAJOR PLAYER IN COLOMBIA (1,041 MW)

EFFICIENT OPERATIONIN ARGENTINA (643 MW)

Guacolda, 764MW

5 coal unitsHuascoCOD:1995/1996/20092010/2015

Hydro Plants271MW

4 run of river hydrounits Cajon del MaipoCOD:1923/1928/1944/1991

Angamos, 558MW

2 coal unitsMejillonesCOD: 2011

Cochrane, 550MW

2 coal unitsMejillonesCOD: 2016

Andes Solar, 91MW

PV SolarAtacama DesertCOD: 2016 / 2020

Chivor, 1,000MW

8 hydro unitsBocayaCOD: 1977/1982

Tunjita, 20MW

1 hydro unitBocayaCOD: 2016

Termoandes, 643MW

Combined CycleTurbines: 2 gas, 1 steamSaltaCOD: 1999

ENERGY

STORAGE (62 MW)

Spinning Reserve Systems

Norgener 12MW Angamos 20MWCochrane 20MW

Other Plants, 182MW :

Los Cururos 110MW WindLaguna Verde 59MW Gas/DieselLaja 13MW Biomass

Norgener, 276MW

2 coal unitsTocopillaCOD:1995/1997

Ventanas, 867MW

4 coal unitsValparaisoCOD:1964/1977/2010/2013

Castilla, 21MW

PV SolarMetaCOD: 2019

Virtual Reservoir System

Alfalfal I Pilot 10MW

40

FIRM COMMITMENT WITH THE ENVIRONMENT

ACCELERATING A GREENER FUTUREOVERVIEW OF RENEWABLE GROWTH CAPACITY

WIND(1,021 MW)

SOLAR(430 MW)

RUN OF RIVER HYDRO(531 MW)

Alto Maipo, 531MW

San José de MaipoChileCOD: 2021

Los Olmos, 110MW

MulchénChileCOD: 2021

Campo Lindo 73MW

Los AngelesChileCOD:2021

Mesamávida, 68MW

Los AngelesChileCOD: 2021

Andes IIa 80MW

Atacama DesertChileCOD: 2020 – 69MW already in operation

Casa Electrica & Apotolorru 264MW

La Guajira ColombiaCOD: 2023

Projects Under Construction

Projects Ready to be built

Chile Wind I, II & III 506MW

ChileCOD 2022 - 2023

Andes IIb 180MW

Atacama DesertChileCOD: 2021

Andes IV 170MW

Atacama DesertChileCOD 2022

41Capacity as of 21/6/2020

531MW

COD 2021

89%PROJECT

COMPLETED

93%Las Lajas & Alfalfal II

COMPLETED

Las Lajas

267MWAlfalfal II

264MW+

GROWTH PROJECT STATUS UPDATE

ALTO MAIPORUN-OF-RIVER HYDRO

4242Project Status as of 17/6/2020

4.0kmTO BEGIN

GENERATING

1

2

GROWTH PROJECT STATUS UPDATE

ALTO MAIPORUN-OF-RIVER HYDRO - EXCAVATION PROGRESS

Las Lajas &

Alfalfal II

Systems 61km

Volcan

System 14km

43

4.1kmFOR MORE

WATER

Project Status as of 17/6/2020

10MW 5HOURS

INSTALLED CAPACITY

CODMAY2020

100%COMPLETE

PROJECTUNDER

FINAL

COMMISSIONING

44

INNOVATIVEUSE OF BATTERY & HYDRO TECHNOLOGY

GROWTH PROJECT STATUS UPDATE

VIRTUAL RESERVOIRENERGY STORAGE

GROWTH PROJECT STATUS UPDATE

ANDES IISOLAR

45

80MW

INSTALLED CAPACITY

BIFACIAL PANELS, CLIMATE CONDITIONS AND GRID PROXIMITY

ENHANCE CAPACITY FACTOR

CODSTAGED THROUGHOUT2020

99%COMPLETE

PROJECT69MW ALREADY IN OPERATION

FINAL STAGES OFCOMMISSIONING UNDERWAY

Project Status as of 19/06/2020

EPC CONTRACTEXECUTED WITH NORDEX

178MW

INSTALLED CAPACITY

ATTRACTIVE CAPACITY FACTOR WITH RECORD LEVEL HUB HEIGHTFOR CHILE WIND FARMS

BEGINNINGCONSTRUCTION

PROJECTS

46

GROWTH PROJECT STATUS UPDATE

LOS OLMOS & MESAMÁVIDA WIND

CODMID-2021INCLUDING POTENTIAL DELAY DUE TO COVID-19

46

LOCATED IN LA GUAJIRAKNOWN FOR WORLD CLASS WIND RESOURCE

264MW

INSTALLED CAPACITY

WIND PROJECTS AWARDED LONG-TERM CONTRACTS IN COLOMBIA’S 2019 AUCTIONS

UNDERDEVELOPMENT

PROJECTS

GROWTH PROJECT STATUS UPDATE

CASA ELÉCTRICA & APOTOLORRUWIND

COD2023

47

APPENDIX

FINANCIAL INFORMATION

AES GENER

FINANCIAL PERFORMANCESOUND METRICS & STABLE BUSINESS

CAPEX Capital Allocation

83 92 83 94 101

479 405 481556

436

562497

564650

537

2016 2017 2018 2019 LTM 1Q20

Maintenance Growth

53 74 263 259 27793 261184 287 287

102

471 351

1,646 1,621

248

806 798

2,192 2,185

2016 2017 2018 2019 LTM 1Q20

Equity Contribution Dividends Paid Debt Payment

581 591 591 550 549

172 174 241 233 19025 29

55 57 55778 793

887 839 794

34% 33% 34% 35% 34%

2016 2017 2018 2019 LTM 1Q20

Chile Colombia Argentina EBITDA Margin

EBITDA & EBITDA margin

2,198 2,387 2,346 2,628 2,712

1,626 1,353 1,1791,376 1,463

3,824 3,741 3,5254,003 4,174

4.3x 4.4x

3.6x

4.4x 4.8x

2016 2017 2018 2019 LTM 1Q20

PF/Non-Recourse Corporate Debt Net Debt/EBITDA

Total Debt and Net Debt / EBITDA

49

APPENDIX

MARKET INFORMATION

CHILE

COMMERCIAL STRATEGYSTRATEGY BASED ON HIGH QUALITY, LONG-TERM CUSTOMER RELATIONSHIPS

Distribution

25%

Non Regulated

75%

10 year Avg.

Contract Life

Commercial strategy aims to maximize cash flow while minimizing volatility

Optimal contracted position seeks to match contracted energy with long term efficient generation

Contract customers include regulated customers (distribution companies) and non regulatedcustomers (mining, commercial and industrial)

Contracts include Price

indexation mechanisms

(coal and US CPI) and

pass-through provisions

(regulatory risks)

~10 years

average

remaining life of

contracts

-

5,000

10,000

15,000

20,000

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029

GW

h/y

ear

51

COLOMBIA & ARGENTINA

COMMERCIALSTRATEGY

LTM 1Q-20 Figures (1) Up to 306MW of 643MW.

~80% of Expected

Generation

Short & Long Term

Contracts(1-15 Years)

Remaining

Generation

Spot and Frequency

Regulation Sales

Firm Energy

(~3,000 GWh)

Reliability Charge

Revenue

Contract Energy

Energía Plus

Contracts(1)

(1-2 years)

Remaining

Generation

Regulated

Energía Base Sales

Colombia

Argentina

65%

35%

20%80%

6,917GWh

4,470GWh

Contract Sales

Spot Sales

Contract SalesSpot Sales

52

CHILE – COLOMBIA - ARGENTINA

SYSTEM DEMAND EVOLUTION2020 vs 2019

Source: Coordinador Eléctrico Nacional, XM, CAMMESA. May 2020 preliminary figures in most cases. February YoY comparison adjusted for leap year.

53

Total

System

Regulated

Customers

Unregulated

Customers

2.2%1.5% 1.5%

-2.6%-0.2%

-6.3% -8.3%-2.9% -4.6% -8.2%

5.2%7.3%4.6% 6.9% 1.3%

Jan Feb Mar Apr May

4.9% 4.9%

-7.6%

-0.5%

-10.9%

-2.5%

5.4%

-4.5%

5.1% 1.6%

-18.5%-4.8%

4.6%4.1%

-24.6%

Jan Feb Mar Apr May

-11.0%

2.5%

10.1%

-7.6%

-1.1%

17.7%3.9%

-4.4%

-25.3%

-7.4%-1.7% -4.2%

-23.4%

Jan Feb Mar Apr May

-2.3%

-1.5%

DIVERSIFIED ASSET BASE

OUR MARKETS

RATINGS SYSTEM DATA ENERGY DEMAND GENERATION BY FUEL TYPE

S&P

A+ 25,206 MWInstalled

Capacity +2.5%Energy Sales Growth

(CAGR 2009-2019)

Moody’s

A1

77,353 GWhGenerationFitch

A

Chile

~19.1Minhabitants

~$282B GDP as of 2019

Regulated41%

Unregulated59%

Thermal56%

Hydro27%

NCRE17%

As of December 2019

(1) Great North Interconnected system (Sistema Interconectado del Norte Grande). (2) Central Interconnected System (Sistema Interconectado Central). (3) Non-conventional Renewable Energy

including Wind, Solar, Geothermal and Biomass (4) National Electrical System (Sistema Eléctrico Nacional).

(3)

The SING(1) and the SIC(2) were interconnected in November 2017 to comprise the SEN(4)

The SEN became fully operational in May 2019, once the last segment of the Cardones-Polpaico transmission line was completed

71,670GWh

77,353GWh

54

DIVERSIFIED ASSET BASE

OUR MARKETS

S&P

BBB-

Moody’s

Baa2

Fitch

BBB-

17,538 MWInstalled Capacity Energy Demand

Growth

(CAGR 2009-2019)70,115 GWhGeneration

S&P

CCC+

Moody’s

Ca

Fitch

CC

39,704 MW Installed Capacity Energy Demand

Growth

(CAGR 2014-2019)131,254 GWhGeneration

Thermal 61%

Hydro 27%

Nuclear 6%

NCRE 6%

+2.1%

+0.2% Residential43%

Industrial28%

Comercial29%

Regulated69%

Unregulated31%

Thermal78%

Hydro21%

NCRE1%

Colombia

~50.4Minhabitants

~$324B GDP as of 2019

Argentina

~45.1Minhabitants

~$436B GDP as of 2019

70,438GWh

128,059GWh

131,254GWh

70,115GWh

RATINGS SYSTEM DATA ENERGY DEMAND GENERATION BY FUEL TYPE

RATINGS SYSTEM DATA ENERGY DEMAND GENERATION BY FUEL TYPE

(1)

As of December 2019

(1) Non-conventional Renewable Energy including Wind, Solar and Biomass 55

DISCLAIMER• This presentation is not an offer for sale of securities. This material has been prepared solely for informational purposes and is not to be construed as a solicitation or an offer to

buy or sell any securities and should not be treated as giving investment advice nor as an estimation that the scenarios or assumptions will occur. No representation or warranty,

either express or implied, is provided in relation to the accuracy, completeness or reliability of the information, assumptions or examples that may be contained herein. Any

opinions expressed in this material are subject to change without notice and neither the Company nor any other person is under obligation to update or keep current the

information contained herein. The information contained herein is meant only and example of a potential scenario that is based on assumptions that may or may not occur, and

does not purport to be complete and is subject to qualifications and assumptions, and neither the Company nor any agent can give any representations as to the accuracy

thereof. The Company and its respective affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the

use of all or any part of this material.

• This presentation may contain statements that are forward-looking subject to risk and uncertainties and factors, which are based on current expectations and projections about

future events and trends that may affect the Company’s business but that are not . Investors are cautioned that any such forward looking statements are not guarantees of future

performance. Several factors may adversely affect the estimates and assumptions on which these forward-looking statements are based, many of which are beyond our control.

Regarding the impact of COVID-19, the information used for preparing this presentation is solely based on what is publicly available as of March 31, 2020 and the company

cannot make any representation with respect to the real impacts as they are unforeseeable. The successful execution and commencement of operation of the investment

projects that we are developing or constructing depends on numerous external factors, including (i) delays in obtaining regulatory approvals, including environmental permits; (ii)

court rulings against governmental approvals already granted, such as environmental permits; (iii) shortages or increases in the price of equipment reflected through change

orders, materials or labor; (iv) the failure of contractors to complete or commission the facilities or auxiliary facilities by the agreed-upon date; (v) opposition by local and/or

international political, environmental and ethnic groups; (vi) strikes; (vii) adverse changes in the political and regulatory environment in Chile or other countries from which our

operations or projects obtain supplies; (viii) adverse weather conditions (ix) poor geological conditions; and (x) natural disasters, sanitary conditions, accidents or other

unforeseen or catastrophic or exceptional events.

• This presentation may not be reproduced in any manner whatsoever. Any reproduction of this document in whole or in part is unauthorized. Failure to comply with this directive

may result in a violation of applicable laws in Chile or in other jurisdiction.

• The information contained herein should not be relied upon by any person. Furthermore, you should consult with own legal, regulatory, tax, business, investment, financial and

accounting advisers to the extent that you deem it necessary, and make your own investment, hedging and trading decision based upon your own judgment and advice from

such advisers as you deem necessary and not upon any view expressed in this material.

• The Company is an issuer in Chile of securities registered with the Comisión para el Mercado Financiero, the Chilean Superintendency of Securities and Insurance, or “CMF.”

Shares of our common stock are traded on the Bolsa de Comercio de Santiago—Bolsa de Valores, or the Santiago Stock Exchange, and the Bolsa Electrónica de Chile—Bolsa

de Valores, or Electronic Stock Exchange, which we jointly refer to as the “Chilean Stock Exchanges,” under the symbol “AESGENER.” Accordingly, we are currently required to

file quarterly and annual reports in Spanish and issue hechos esenciales o relevantes (notices of essential or material events) to the CMF, and provide copies of such reports

and notices to the Chilean Stock Exchanges. All such reports are available at www.cmfchile.cl and www.aesgener.com.56

PRESENTATIONJ.P. Morgan Southern Cone & Andean Region Opportunities Conference

June, 2020

CORPORATE