ESSENTIAL FACT
AES ANDES S.A.
Santiago, May 25, 2023
Mrs:
Solange Berstein Jáuregui
Chairman Financial Market Commission
Avda. Libertador Bernardo O’Higgins 1449
Present
Ref.: Progress in the decarbonization of the Company
From our consideration:
In accordance with the provisions of Article 9 and the second paragraph of Article 10 of the
Law No. 18.045 on the Securities Market, as well as General Rule No. 30 of
the Commission in charge, the undersigned, duly empowered for that purpose, reports as
Essential Fact of AES Andes S.A (“AES Andes”) the following:
With this date, in accordance with article 72-18 of the General Law of Electric Services, AES
Andes informed the National Energy Commission, the Superintendence of Electricity and
Fuels and the National Electric Coordinator, the definitive disconnection of the System
National Electric of the coal-fired generation units Norgener 1 and Norgener 2, to 31
December 2025. These units make up the Norgener Thermoelectric Power Plant with a
installed capacity of 276 MW located in the commune of Tocopilla, Region of Antofagasta,
Chile.
By virtue of the above and in accordance with its transformational strategy Greentegra, AES
Andes and its subsidiaries have committed to date, the cessation of coal operations of their
power generation complexes: Ventanas, Angamos, and Norgener from the year 2025,
which represents the disposition of 1,693MW of installed capacity.
In view of the facts mentioned above, AES Andes will record a loss for
impairment of Plant and Equipment Property, which will affect the net result of the year 2023 in
approximately US$ 200 million. This non-recurring accounting adjustment will have no impact
in the Company’s cash flow.
Yours sincerely yours,
General Manager
AES Andes S.A.
C.C.: Santiago Stock Exchange
Electronic Stock Exchange of Chile
Banco de Chile, Representative of Stockbrokers
Fitch Ratings, Fitch Chile Risk Rating Agency
Feller Rate Risk Rating
Link to file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=52cc0c5330951537457e888780bc25e8VFdwQmVVMTZRVEZOUkVsNVRtcGpNazVSUFQwPQ==&secuencia=-1&t=1685049001
