<SEC-DOCUMENT>0000950103-25-002789.txt : 20250303
<SEC-HEADER>0000950103-25-002789.hdr.sgml : 20250303
<ACCEPTANCE-DATETIME>20250303060748
ACCESSION NUMBER:		0000950103-25-002789
CONFORMED SUBMISSION TYPE:	NT 10-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250303
DATE AS OF CHANGE:		20250303
EFFECTIVENESS DATE:		20250303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AES CORP
		CENTRAL INDEX KEY:			0000874761
		STANDARD INDUSTRIAL CLASSIFICATION:	COGENERATION SERVICES & SMALL POWER PRODUCERS [4991]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				541163725
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12291
		FILM NUMBER:		25693562

	BUSINESS ADDRESS:	
		STREET 1:		4300 WILSON BOULEVARD
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22203
		BUSINESS PHONE:		7035221315

	MAIL ADDRESS:	
		STREET 1:		4300 WILSON BOULEVARD
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AES CORPORATION
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-K
<SEQUENCE>1
<FILENAME>dp225705_nt10k.htm
<DESCRIPTION>FORM NT 10-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>


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<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 12b-25</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTIFICATION OF LATE FILING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Commission File Number 001-12291</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; font-size: 12pt; text-align: right"><FONT STYLE="font-size: 10pt"><I>(Check one):</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">x</FONT> Form 10-K <FONT STYLE="font-family: Wingdings">&uml;</FONT>
    Form 20-F <FONT STYLE="font-family: Wingdings">&uml;</FONT> Form 11-K <FONT STYLE="font-family: Wingdings">&uml;</FONT> Form 10-Q</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Form 10-D <FONT STYLE="font-family: Wingdings">&uml;</FONT>
    Form N-SAR <FONT STYLE="font-family: Wingdings">&uml;</FONT> Form N-CSR</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 12pt; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-size: 10pt">For Period Ended: <B>December 31, 2024</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-size: 10pt">Transition Report on Form 10-K</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-size: 10pt">Transition Report on Form 20-F</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-size: 10pt">Transition Report on Form 11-K</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-size: 10pt">Transition Report on Form 10-Q</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-size: 10pt">Transition Report on Form N-SAR</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-size: 10pt">For the Transition Period Ended: </FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Nothing in this form shall be construed
to imply that the Commission has verified any information contained herein.</B>&nbsp;</P></TD></TR>
  </TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I - REGISTRANT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE AES CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Full Name of Registrant<B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Former Name if Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>4300 Wilson Boulevard</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Address of Principal Executive Office (<I>Street
and Number</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arlington, Virginia 22203</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">City, State and Zip Code</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II - RULES 12b-25(b) AND (c) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the subject report could not be filed without unreasonable effort
or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="3" STYLE="text-align: left; width: 3%; vertical-align: middle">
    <P STYLE="font: 10pt Wingdings; margin: 0pt 0 0pt 10pt; text-indent: -10pt; border-left-width: 0in; border-left-color: Black">x</P></TD>
    <TD STYLE="padding-top: 4pt; vertical-align: bottom; border-left: black 1pt solid; width: 1%; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; vertical-align: top; font-size: 12pt; text-align: center; width: 3%; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="padding-top: 4pt; vertical-align: bottom; width: 1%; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; vertical-align: top; font-size: 12pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 4pt; vertical-align: bottom; border-left: black 1pt solid; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; vertical-align: top; font-size: 12pt; text-align: center; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="padding-top: 4pt; vertical-align: bottom; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; vertical-align: top; font-size: 12pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 4pt; vertical-align: bottom; border-left: black 1pt solid; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; vertical-align: top; font-size: 12pt; text-align: center; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="padding-top: 4pt; vertical-align: bottom; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; vertical-align: top; font-size: 12pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">The accountant&rsquo;s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>


<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART III - NARRATIVE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q,
10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On Friday, February 28, 2025, The AES Corporation&nbsp;&nbsp;(the &ldquo;Company&rdquo;)
was notified by Ernst &amp; Young LLP (&ldquo;EY&rdquo;), the Company&rsquo;s independent public accounting firm, that due to an unexpected
medical issue relating to a key audit partner of the engagement team, EY required additional time to complete the audit of the Company&rsquo;s
consolidated financial statements and internal controls over financial reporting as of and for the year ended December 31, 2024 in accordance
with the standards of the PCAOB. The Company had earlier been informed by EY that the audit was on schedule for timely completion by March
3, 2025. Consequently, the Company is unable to timely file its Form 10-K for the year ended December 31, 2024, but fully expects to be
able to file its Form 10-K before the end of the 15-calendar day period following the due date of the Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company does not expect any material changes or adjustments
to current and/or previously reported annual financial results, including the financial results it previously reported in its press
release furnished as Exhibit 99.1 to the Company&rsquo;s Current Report on Form 8-K filed February 28, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For related reasons, IPALCO Enterprises, Inc. and DPL Inc.&rsquo;s
respective annual reports on Form 10-K will be delayed from the originally planned filing date as EY prioritizes completing their work
related to the Company&rsquo;s annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attached hereto and filed as Exhibit 99.1 to this Form 12b-25 is the
statement of Ernst &amp; Young LLP as contemplated by Rule 12b-25(c) of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>


<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART IV - OTHER INFORMATION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 12pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 97%; font-size: 12pt"><FONT STYLE="font-size: 10pt">Name and telephone number of person to contact in regard to this notification</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 33%; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Stephen Coughlin</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 32%; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>703</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 33%; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>522-1315</U></B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">(Area Code)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt">(Telephone Number)</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 12pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 97%; font-size: 12pt"><FONT STYLE="font-size: 10pt">Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). Yes <FONT STYLE="font-family: Wingdings">x</FONT> No <FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 10pt">Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? Yes <FONT STYLE="font-family: Wingdings">&uml;</FONT> No <FONT STYLE="font-family: Wingdings">x</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-left-width: 0in; border-left-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-left-width: 0in; border-left-color: Black">If so, attach an
explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-left-width: 0in; border-left-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE AES CORPORATION<BR>
<FONT STYLE="font-size: 10pt">(Name of Registrant as Specified in Charter) </FONT></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-top: 1pt; vertical-align: top; font-size: 12pt; width: 5%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="padding-top: 1pt; vertical-align: bottom; font-size: 12pt; width: 50%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">March 3, 2025</FONT></TD>
    <TD STYLE="padding-top: 1pt; vertical-align: bottom; font-size: 12pt; width: 4%; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding-top: 1pt; vertical-align: bottom; font-size: 12pt; width: 41%; padding-bottom: 1pt">/s/ <FONT STYLE="font-size: 10pt">Stephen Coughlin</FONT></TD></TR>
  <TR>
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    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; vertical-align: bottom; font-size: 12pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-top: 1pt; vertical-align: bottom; border-top: black 1pt solid; font-size: 12pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Stephen Coughlin</FONT></TD></TR>
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    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; vertical-align: bottom; font-size: 12pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding-top: 1pt; vertical-align: bottom; font-size: 12pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed
beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive
officer), evidence of the representative&rsquo;s authority to sign on behalf of the registrant shall be filed with the form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="padding: 4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; font-size: 12pt; text-align: center"><B>ATTENTION</B></TD></TR>
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    <TD STYLE="padding: 4pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font-size: 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).</B></FONT></TD></TR>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>dp225705_ex9901.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ernst &amp; Young LLP<BR>
1775 Tysons Blvd<BR>
Tysons, VA 22102<BR>
<BR>
</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">March 3, 2025<BR>
<BR>
</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The AES Corporation<BR>
Arlington, VA<BR>
<BR>
</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Pursuant to Rule 12b-25 of the General Rules and Regulations under the
Securities Exchange Act of 1934, we inform you that we have been furnished a copy of Form 12b-25, to be filed by The AES Corporation on
or about March 3, 2025, which contains notification of the registrant&rsquo;s inability to file its Form 10-K by March 3, 2025. We have
read the Company&rsquo;s statements contained in Part III therein and we agree with the stated reason as to why we have been unable to
complete our audit and reports on the Company&rsquo;s consolidated financial statements and internal control over financial reporting
as of and for the year ended December 31, 2024, to be included in its Form 10-K.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">/s/ Ernst &amp; Young LLP</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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