Fluence Energy, Inc. announced that current board member Julian Nebreda will succeed Manuel Pérez Dubuc as President and Chief Executive Officer of the Company, effective September 1, 2022. Prior to Mr. Nebreda's appointment at the Company, Mr. Nebreda, age 56, most recently served as Executive Vice President and President of US & Global Business Lines for The AES Corporation (“AES”) since January 2022. Mr. Nebreda has notified AES of his resignation which will be effective August 31, 2022.

Prior to his most recent role at AES, Mr. Nebreda served as President of AES' South America Strategic Business Unit (SBU) from October 2018 to January 2022. From April 2016 to October 2018, Mr. Nebreda served as President of AES' Brazil SBU and President of AES' Europe SBU from 2009 to April 2016. Prior to that, Mr. Nebreda held several other senior positions at AES, beginning in 2005.

Mr. Nebreda has also previously served as Chairman of the Board of AES Andes and AES Brasil, publicly listed companies in Chile and Brazil, respectively. Before joining AES, Mr. Nebreda has held positions in the public and private sectors. There are no family relationships existing between Mr. Nebreda and any executive officer or director of the Company.

Mr. Pérez Dubuc will step down from his role as Chief Executive Officer, effective August 31, 2022 and is expected to resign as a director from the Board, effective August 31, 2022. Mr. Nebreda is expected to take office effective September 1, 2022, following a transition period with Mr. Pérez Dubuc, to ensure a smooth handover. Mr. Nebreda will remain on the Company's Board.