CORONAVIRUS (CODVID -19)SCENARIOS OF POTENTIAL IMPACTSApril 20 - 2020

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.2

3

Dem

and

Limited demand volatility exposure due to contract structure

• Tolling and Take-or-Pay contracts mitigate impact from drop in demand in Chile and Colombia

• In a scenario where AES Gener’s contracted power demand in Chile decreased 5% 2020 EBITDA could have a negative impact of up to $8 mn*

• A drop in commodities prices (fuel prices) could partially offset impact of decreased demand

• Most customers have investment grade ratings or equivalent

• Highest risk clients are backed by Parent Company Guarantees and or Letters of Credit

Opera

tio

ns Operations deemed critical infrastructure and have contingency plans guaranteeing business continuity

• All plants currently fully operational - Well rehearsed contingency plans in place if required

• As of this date no Fuel supply chain disruptions - Fuel Supply for +30 days with shipments in route

• Potential for significant fixed cost and non-essential expenditures savings

• Limited project supply chain disruption impact at our renewable projects

• Strong Force Majeure provisions at Alto Maipo mitigate potential time and cost increases

Liq

uid

ity

Robust liquidity position with manageable short term obligations

• +$341mn in cash on hand

• $250mn committed Undrawn Revolver Facility

• $165mn in debt maturities spread out evenly over the remainder of 2020

• 2020 maintenance CAPEX $90mn to $100mn

FX

FX Devaluation Exposure offset by conservative hedging strategy

• Assuming our markets experienced a sustained 10% devaluation vs USD in 2020, the Cash Flow could have a positive impact of $0.9mn*:

Chile:+$4.1mn* / Colombia: -$3.1mn* / Termoandes -$0.1mn*

*Amounts prepared based on estimated figures by AES Gener based on a sustained 10% devaluation from April to December. Values and percentages are provided for reference purposes only and do not constitute an estimation, assumption or forecast by the Company.

CORONAVIRUS (COVID-19)

EXECUTIVE SUMMARYMAIN HIGHLIGHTS

CORONAVIRUS (COVID-19)

OUR PEOPLESAFETY IS ALWAYS FIRST

4

1,319

100%High Risk presonnel (>60-years)

WORKING REMOTELY

100%Non operational personnel

WORKING REMOTELY

54%of AES Gener personnel

ON SITE

AES GENER

POEPLE

0COVID-19 cases

AES Gener personnel

5COVID-19 cases

Contractors

CORONAVIRUS (COVID-19)

OUR PEOPLEKEY MEASURES

5

PREVENTATIVE

EDUCATIONAL

CAMPAIGNS

REMOTE WORK

DIGITAL HEALTH

AND TRAVEL

QUESTIONNAIRE

TRANSPORT OF

PERSONNEL IN

PRIVATE

VEHICLES

TEMPERATURE

CONTROLS

RESTRICTED

ACCESS TO

CONTROL

CENTER

WORK SHIFT

REDISTRIBUTION

COORDINATED

MEAL TIMES

HIGH

FREQUENCY

CLEANING AND

SANITATION

PARAMEDICS

ON SITE TO

EVALUATE

SYMPTOMS

CORONAVIRUS (COVID-19)

OUR OPERATIONSCONTINGENCY PLAN TO ENSURE BUSINESS CONTINUITY

6

100% of OUR PLANTS

OPERATING NORMALLY

66%Of our operations personnel

WORKING ON SITE

+30 days of FUEL SUPPLY

ASSURED

CORONAVIRUS (COVID-19)

OUR PROJECTSADVANCING WITH OUR STRATEGY

7

ANDES SOLAR &VIRTUAL RESERVOIR

Projects in final stages of

testing and commissioning

98% COMPLETE

15%Of our E&C personnel

WORKING ON SITE

LOS OLMOS &

MESAMÁVIDA

Delays due to Supply Chain

disruption

CORONAVIRUS (COVID-19)

OUR MARKETSREVENUE

8

40%

60%

20%

80%

REVENUE BY MARKET

DEMAND RISK

CURRENCY RISK

NO DEMAND RISK

POTENTIAL IMPACT

OTHER CURRENCIES

US$

CHILE

COLOMBIA

76%

20%

4%

*Amounts prepared based on 2019 figures. Demand risk Calculated at a Variable Margin level

ARGENTINA

If Free Client demand decreases 5%

($3mn) – 2020YTG

In EBITDA

CORONAVIRUS (COVID-19)

CHILEAN ENERGY DEMANDMINING CONTRACTS ARE MAINLY SUPPORTED BY ToP AGREEMENTS

If Disco demand decreases 5%

($5mn) – 2020YTG

In EBITDA

65% 15% 20%

Regulated CustomersDiversified Unregulated CustomersNo Demand risk (Tolling or ToP)

Unregulated Market Impact* Regulated Market Impact*

Contracted Volume by customer type for 2020

9

*Amounts prepared based on estimated figures by AES Gener for 2020 under existing power supply agreements in force with regulated and free clients and a decrease in demand from April to December. Values and percentages are provided for reference purposes only and do not constitute an estimation, assumption or forecast by the Company.

CORONAVIRUS (COVID-19)

IMPACT IN COLOMBIACOLOMBIA MOSTLY CONTRACTED WITH DISTRIBUTION COMPANIES

10

More than 90% of 2020

contracted energy

volume are with DisCos,

with Take or Pay PPAs

Discos

Aceite y Grasas

Actividades de Puertos

Home Appliances

Hand Tools

Cement Products

Compensation Fund

Printing

Real Estate

Tires

Manufacturing

Milling

Paper

Batteries and Storage

Plastic

Animal Processing

Chemicals

Textiles

Portfolio of Customers by Industry

(2020)

Contract sales represent 80% to 85% of expected generation volumeValues and percentages are provided for reference purposes only and do not constitute an estimation, assumption or forecast by the Company.

CORONAVIRUS (COVID-19)

IMPACT IN ARGENTINAARGENTINA IS LARGELY A REGULATED MARKET WITH A BASE LOAD DEMAND

11

78% of Termoandes

energy sales volume

are under Energía

Base, subject to very

low demand risk

Portfolio of Customers

(2020)

Energia Plus

Energia Base

Values and percentages are provided for reference purposes only and do not constitute an estimation, assumption or forecast by the Company.

CORONAVIRUS (COVID-19)

IMPACT IN FXON OUR BUSINESS

12

If our markets

experienced a

sustained 10%

devaluation vs.

the USD

(US$mn) Chile Colombia Termoandes Total

2020YTG

EBITDA

IMPACT*

2.1 (13.8) (1.4) (13.1)

2020YTG

CASH FLOW

IMPACT*

4.1 (3.1) (0.1) 0.9

*Amounts prepared based on estimated figures by AES Gener for 2020 and a devaluation from April to December Values and percentages are provided for reference purposes only and do not constitute an estimation, assumption or forecast by the Company.

1 9 46

9 1 10 1 10

47 53 51 55 1 57 46 62

1 61

1 65

CORONAVIRUS (COVID-19)

STRONG LIQUIDITYSHORT TERM DEBT OBLIGATIONS COVERED

13Non Recourse Recourse

Liquidity as of December 31, 2019

$591mn

Cash andCash Equivalents

$341 mn

58%

UndrawnCommitted Facilities Dec-2021

$250 mn

42%

Amortization Schedule ($mn)

1Q-2020 2Q-2020 3Q-2020 2Q-20214Q-2020 1Q-2021 3Q-2021 4Q-2021

CORONAVIRUS (CODVID -19)SCENARIOS OF POTENTIAL IMPACTSApril 20 - 2020