Ameriprise holds 4.9% of AES (NYSE: AES) common stock

Rhea-AI Filing Summary

Ameriprise Financial, Inc. filed an amended Schedule 13G reporting beneficial ownership of 34,959,555 shares of The AES Corporation common stock, representing 4.9% of the class as of the reporting date.

Ameriprise reports no sole voting or dispositive power, with shared voting power over 25,460,323 shares and shared dispositive power over 34,959,555 shares. The filing notes the securities were acquired and are held in the ordinary course of business and are not intended to change or influence control of AES.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

The AES Corporation

(Name of Issuer)

Common Stock

(Title of Class of Securities)

00130H105

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 00130H105

1

Names of Reporting Persons

Ameriprise Financial, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 25,460,323.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 34,959,555.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

34,959,555.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.9 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: The AES Corporation
(b)	Address of issuer's principal executive offices: 4300 Wilson Boulevard, Arlington, Virginia 22203
Item 2.
(a)	Name of person filing: Ameriprise Financial, Inc. ("AFI")
(b)	Address or principal business office or, if none, residence: 145 Ameriprise Financial Center, Minneapolis, MN 55474
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 00130H105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Incorporated by reference to Items (5)-(9) and (11) of the cover page pertaining to the reporting person. AFI disclaims beneficial ownership of any shares reported on this Schedule.
(b)	Percent of class: The information required by Item 4(b) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Ameriprise Financial, Inc.

Signature:	/s/ Michael G. Clarke
Name/Title:	Michael G. Clarke, Senior Vice President, North America Head of Operations & Investor Services
Date:	02/17/2026

Comments accompanying signature: Contact Information Charles Chiesa VP Fund Treasurer Global Operations and Investor Services Telephone: 617-385-9593

FAQ

What stake in AES (AES) does Ameriprise Financial report on this Schedule 13G/A?

Ameriprise Financial reports beneficial ownership of 34,959,555 shares of The AES Corporation common stock, representing 4.9% of the outstanding class. This positions Ameriprise as a significant but sub‑5% institutional holder of AES shares.

How much voting power does Ameriprise Financial have over AES (AES) shares?

Ameriprise reports shared voting power over 25,460,323 AES shares and no sole voting power. This means voting decisions on these shares are made jointly with other parties rather than exclusively by Ameriprise.

What dispositive power over AES (AES) stock does Ameriprise disclose?

Ameriprise discloses no sole dispositive power and shared dispositive power over 34,959,555 AES shares. Shared dispositive power indicates Ameriprise participates in decisions about selling or otherwise disposing of these shares with other entities.

Is Ameriprise Financial’s AES (AES) ownership intended to influence control of AES?

Ameriprise certifies the AES securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of AES, nor in connection with any control-related transaction.

Why does the AES (AES) Schedule 13G/A mention ownership of 5 percent or less?

The filing includes an item noting ownership of 5 percent or less of a class, consistent with the reported 4.9% stake. This confirms Ameriprise’s beneficial ownership remains below the 5% regulatory threshold for larger block holders.

Who signed the Ameriprise Schedule 13G/A related to AES (AES)?

The Schedule 13G/A was signed by Michael G. Clarke, identified as Senior Vice President, North America Head of Operations & Investor Services. The signature certifies the accuracy of the information to the best of his knowledge and belief.