AWK Growth Outlook and Military Services Strategic Value

Military Services Group Provides Strategic Value AMERICAN WATER AWK Growth Outlook 7-9% EPS CAGR Target (2022- 2026 Plan) Military Services 0.2% Group Regulated Acquisitions 1.5-2.5% Regulated Investment CAPEX 5-7% Military Services Group Serving 17 installations; 50-yr contracts 3 active bids currently being pursued: Naval Station Mayport (FL) Naval Air Station Pax River (MD) Joint Solicitation: Cape Canaveral and Patrick Air Force Bases (FL) Opportunity for upgrades on existing bases Value Add of Military Services Group Regulated-like Favorable ROI opportunity Capital light/Cash flow positive Aligns with ESG values Positive branding Leverage core competencies 14

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