We advised AES on the secondary offering

Davis Polk advised AES Grid Stability, LLC, an indirect, wholly owned subsidiary of The AES Corporation, as a selling stockholder in connection with the SEC-registered secondary offering of 23,000,000 shares of Class A common stock of Fluence Energy, Inc. by AES and certain other selling stockholders, resulting in gross proceeds to the several selling stockholders of approximately $472 million. The Class A common stock is listed on the Nasdaq Global Select Market under the symbol “FLNC.”

Fluence is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. Fluence’s solutions and operational services are helping to create a more resilient grid and unlock the full potential of renewable portfolios. With gigawatts of projects successfully contracted, deployed and under management across nearly 50 markets, Fluence is transforming the way we power our world for a more sustainable future.The AES Corporation is a Fortune 500 global energy company accelerating the future of energy. Together with its many stakeholders, it is improving lives by delivering the greener, smarter energy solutions the world needs. Its diverse workforce is committed to continuous innovation and operational excellence, while partnering with customers on their strategic energy transitions and continuing to meet their energy needs today.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr., counsel Jenna M. Godfrey and associate Walker Halstad. All members of the Davis Polk team are based in the New York office.

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