The Company has now signed 8.1 GW of agreements directly with technology customers. Since the Company's first quarter 2024 earnings call in May 2024, the Company signed 2.2 GW of agreements, including 1.2 GW of new data center load at U.S. utilities, 15-year PPAs for 727 MW of wind and solar to serve data center growth in Texas, and a 310 MW retail supply agreement to support data centers throughout Ohio.

The Company has now signed 8.1 GW of agreements directly with technology customers. The Company completed the construction or acquisition of 976 MW of wind, solar, and energy storage and expects to add a total of 3.6 GW to its operating portfolio by year-end 2024.

In May 2024, the Company entered into an agreement to sell its 47.3% controlling interest in AES Brasil, a 5.2 GW portfolio of renewable energy facilities. Upon meeting the held-for-sale criteria in May 2024, the Company performed an impairment analysis and determined that the carrying value of the disposal group of $1,556 million, which includes cumulative translation losses of $533 million, was greater than its fair value less costs to sell of $1,339 million.

Our strategy involves shifting towards clean energy platforms, including renewable energy, energy storage, LNG, and modernized grids. We have made significant progress on our exit of coal generation, and we intend to exit the substantial majority of our remaining coal facilities by year-end 2025 and intend to exit all of the coal facilities by year-end 2027.

While this has impacted the U.S. market, AES has managed this issue without significant impact to our projects. Further disruptions may impact our suppliers' ability or willingness to meet their contractual agreements or to continue to supply cells or panels into the U.S. market on terms that we deem satisfactory.

Dry hydrological conditions in Panama, Brazil, Colombia, and Chile can present challenges for our businesses in these markets. As mitigation, AES has invested in thermal, wind, and solar generation assets, which have a complementary profile to hydroelectric plants.

On April 24, 2024, new Commerce regulations with respect to the administration of AD/CVD cases went into effect, including regulations pertaining to transnational subsidization and particular market situations. On the same day, several companies filed a petition requesting that Commerce initiate an investigation into whether new AD/CVD duties should be imposed on cells and modules imported from Thailand, Cambodia, Malaysia, and Vietnam.

The overall economic climate in Argentina has deteriorated, resulting in volatility and increased the risk that a further significant devaluation of the Argentine peso against the USD, similar to the devaluations experienced by the country in 2018, 2019, and 2023, may occur.

On July 17, 2024, the Government of El Salvador passed various changes to the electricity law impacting, among other things, tariff reset timing and the treatment of bi-lateral contracts. These changes are pending clarification once published in the electricity regulation. Pending completion of that process, the impact of these changes is unclear, but they may be adverse to the Company's financial condition and results.

The Company has now signed 8.1 GW of agreements directly with technology customers, including through transmission and distribution, renewables PPAs, and retail supply. Since the Company's first quarter 2024 earnings call in May 2024, the Company signed 2.2 GW of agreements, including 1.2 GW of new data center load at U.S. utilities, 15-year PPAs for 727 MW of wind and solar to serve data center growth in Texas, and a 310 MW retail supply agreement to support data centers throughout Ohio.

As part of our supply chain strategy, we are well advanced in securing domestically manufactured modules to support our US solar growth from 2026 to 2028, with a contractual option to extend deliveries to 2030.

Although we prefer to hedge our exposure to the impact of market fluctuations in the price of commodities, some of our generation businesses operate under short-term sales, have contracted electricity obligations greater than supply, or operate under contract sales that leave an unhedged exposure on some of our capacity or through imperfect fuel pass-throughs.

General and administrative expenses decreased $6 million, or 8%, to $66 million for the three months ended June 30, 2024, compared to $72 million for the three months ended June 30, 2023, primarily due to lower people costs and professional fees, partially offset by increased business development activity.

While this has impacted the U.S. market, AES has managed this issue without significant impact to our projects. Further disruptions may impact our suppliers' ability or willingness to meet their contractual agreements or to continue to supply cells or panels into the U.S. market on terms that we deem satisfactory.

Dry hydrological conditions in Panama, Brazil, Colombia, and Chile can present challenges for our businesses in these markets. As mitigation, AES has invested in thermal, wind, and solar generation assets, which have a complementary profile to hydroelectric plants.

Our New Energy Technologies SBU includes investments in new and innovative technologies to support leading-edge greener energy solutions.

The Company constructs and operates projects consisting only of a stand-alone BESS facility, as well as projects that pair a BESS with solar energy systems. These projects allow more flexibility on when to provide energy to the grid.

Our New Energy Technologies SBU includes green hydrogen initiatives and investments in Fluence, Uplight, 5B, and other new and innovative energy technology businesses.

The primary uses of cash in the six months ended June 30, 2024 were capital expenditures, repayments of debt, and repayments of obligations under supplier financing arrangements.

The primary uses of cash in the six months ended June 30, 2024 were capital expenditures, repayments of debt, and repayments of obligations under supplier financing arrangements.

The Parent Company paid dividends of $0.1725 per outstanding share to its common stockholders during the first and second quarters of 2024 for dividends declared in December 2023 and February 2024.

Our strategy involves shifting towards clean energy platforms, including renewable energy, energy storage, LNG, and modernized grids. It is designed to position us for continued growth while reducing our carbon intensity and to be in support of our mission of accelerating the future of energy, together.

We have made significant progress on our exit of coal generation, and we intend to exit the substantial majority of our remaining coal facilities by year-end 2025 and intend to exit all of the coal facilities by year-end 2027, subject to necessary approvals.

Pursuant to their environmental audit, AES Sul and AES Florestal discovered 200 barrels of solid creosote waste and other contaminants at a pole factory that AES Florestal had been operating. On their initiative, AES Sul and AES Florestal communicated with Brazilian authorities and CEEE about the adoption of containment and remediation measures.

The overall economic climate in Argentina has deteriorated, resulting in volatility and increased the risk that a further significant devaluation of the Argentine peso against the USD, similar to the devaluations experienced by the country in 2018, 2019, and 2023, may occur.

On July 17, 2024, the Government of El Salvador passed various changes to the electricity law impacting, among other things, tariff reset timing and the treatment of bi-lateral contracts. These changes are pending clarification once published in the electricity regulation. Pending completion of that process, the impact of these changes is unclear, but they may be adverse to the Company's financial condition and results.

In the U.S. and other markets in which we operate, there has been a rise in interest rates since 2021, and interest rates are expected to remain volatile in the near term.