IPALCO Enterprises Extends Expiration Time for Consent Solicitations of Senior Notes

IPALCO Enterprises, Inc. Extends Consent Solicitation Expiration Time

On April 1, 2026, IPALCO Enterprises, Inc. revealed that it has decided to extend the expiration period for its solicitation of consents concerning its 4.25% Senior Notes due 2030 and 5.75% Senior Notes due 2034. Previously, these solicitations were set to expire at 5:00 p.m. New York City time on March 31, 2026. The new expiration date has now been pushed back to 5:00 p.m. on May 13, 2026, unless it is terminated earlier.

As of the previous deadline, consents had been received from approximately 33% of the $475 million worth of 2030 notes and about 25% of the $400 million total for the 2034 notes. These consents pertain to proposed amendments within the indentures that govern these notes. Importantly, holders who have already submitted their consent do not need to take further action due to this extension.

The extension aims to ensure that the consent solicitation process is thorough and allows more holders to participate. In order for the proposed amendments to be adopted, consent from a majority of the outstanding principal amount of the applicable series of notes is essential. If this condition is satisfied, the aggregate consent payments of $1,187,500 for the 2030 notes and $1,000,000 for the 2034 notes will be distributed among the consenting holders before the new expiration time.

The terms for these consent solicitations remain unchanged, except for the extended expiration. All holders of the respective notes are encouraged to refer to the Consent Solicitation Statement, previously issued on March 5, 2026, along with its subsequent supplements for detailed information regarding the terms and conditions of the solicitation process.

Background on IPALCO Enterprises

IPALCO Enterprises is a holding company known primarily for its subsidiary, Indianapolis Power & Light Company, which is a regulated utility provider delivering retail electric service to over 533,000 customers throughout the greater Indianapolis area. This large customer base includes residential, commercial, and industrial clients. The company operates under the ownership of The AES Corporation, a global energy leader in providing innovative and sustainable energy solutions.

Goldman Sachs Co. LLC and Citigroup Global Markets Inc. act as the solicitation agents for these consent solicitations, while Global Bondholder Services Corporation is the designated information and tabulation agent. Stakeholders with queries about the solicitation's terms may reach out to the solicitation agents directly.

This communication serves informational purposes and does not constitute an offer to sell or a solicitation of any security. Stakeholders should carefully assess the solicitation's terms as well as any risks associated with participation or abstention as detailed in the Consent Solicitation Statement, which lays out important information regarding this transaction.

Lastly, as part of mandated regulatory compliance, IPALCO urges investors and security holders to monitor the developments pertaining to the consent solicitations closely to make informed decisions. The company remains committed to being transparent throughout this process based on the needs of its stakeholders.