Regulated Acquisitions and Growth Outlook

Timely Recovery of Capital and Operating Costs AMERICAN WATER American Water's Jurisdictions As of 2010 As of 2023 10 10 9 5 5 7 11 11 1 Infrastructure Mechanisms Expense Mechanisms Forward Looking Consolidated Tariffs Test Year Fair Value Capital Recovery (2024-2028 Plan) Infrastructure Surcharge Mechanisms ~45% Forward Test Traditional Years ~30% Recovery ~25% 25

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