Dynegy Inc. (NYSE:DYN) has completed an exchange offer (the Exchange Offer) of $500 million aggregate principal amount of its 5.875% Senior Notes due 2023 registered under the Securities Act of 1933 (the Exchange Notes) for all $500 million aggregate principal amount of its outstanding 5.875% Senior Notes due 2023 (the Notes). The Exchange Offer expired at 5:00 p.m., New York City time, on April 14, 2014. The Notes were issued in a private offering in May 2013 pursuant to Rule 144A and Regulation S under the Securities Act of 1933. The Exchange Offer was conducted in order to satisfy certain obligations of Dynegy pursuant to a registration rights agreement entered into in connection with the private offering. The terms of the Exchange Notes are identical in all material respects to the terms of the Notes, except that the Exchange Notes have been registered under the Securities Act of 1933. Dynegy received no proceeds from this Exchange Offer.

ABOUT DYNEGY

Dynegy's subsidiaries produce and sell electric energy, capacity and ancillary services in key U.S. markets. The Dynegy Power, LLC power generation portfolio consists of approximately 6,121 megawatts of primarily natural gas-fired intermediate and peaking power generation facilities. The Dynegy Midwest Generation, LLC portfolio consists of approximately 2,980 megawatts of primarily coal-fired baseload power plants. The Illinois Power Holdings, LLC portfolio consists of approximately 4,062 megawatts of primarily coal-fired baseload power plants. Homefield Energy is a retail electricity provider serving businesses and residents in Illinois.

FORWARD-LOOKING STATEMENTS

Certain statements included in this news release are intended as “forward-looking statements,” particularly those statements concerning the Exchange Offer. These statements include assumptions, expectations, projections, intentions or beliefs about future events. Discussion of risks and uncertainties that could cause actual results to differ materially from current projections, forecasts, estimates and expectations of Dynegy is contained in Dynegy’s filings with the Securities and Exchange Commission (the “SEC”). Specifically, Dynegy makes reference to, and incorporates herein by reference, the section entitled “Risk Factors” in its most recent Form 10-K for the year ended December 31, 2013, which is available free of charge on the SEC’s website at http://www.sec.gov.