Investor Presentaiton

Highly Fragmented Water/Wastewater Industry Creates Opportunity Water Utilities AMERICAN WATER Electric Utilities Natural Gas Utilities Industry Opportunity Water 16% Investor Owned 84% Public & Other Wastewater 2% Investor Owned 98% Public & Other Water Utilities Source: EPA SDWIS Federal Reports Search www3.epa.gov/enviro/facts/sdwis American Water Footprint Ideal for industry consolidation opportunities Target 5,000-50,000 customer connections per acquisition Wastewater focus (AWK customer connections mix- 92% water & 8% wastewater) Electric Utilities Source: Form EIA-861 detailed data files www.eia.gov/electricity/data/eia8 Gas Utilities Source: EPA F.L.I.G.H.T. Greenhouse Gas Emissions from Large Facilities Ghgdata.epa.gov/ghgp/main.do# 5 Case No. 2022-00432 Bluegrass Water's Response to PSC 3-25 Exhibit PSC 3-25(b) - Part 1 of 2 Page 5 of 39

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