2023 Earnings and Growth Projections

2023 EPS Guidance Affirmed $4.45* 1.35-1.45 2022 Actual Revenue (0.38-0.42) (0.24-0.26) O&M Depreciation (0.36-0.38) 0.02-0.04 AMERICAN WATER $4.72-$4.82* (0.08-0.10) ** LT Financing ST Debt Financing, net of Interest Income Other, net 2023 Guidance ~75% of inflationary costs incl. in revenue from recent rate cases Excludes weather of $0.06 per share favorable in Q3 2022 and $0.07 per share favorable in Q2 2023 Investment Growth ** Reflects $(0.28-0.30) per share of share count dilution, which also offsets the amount of avoided interest expense. 12

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