Investor Presentaiton

Delivering Exceptional Value to Shareholders 82% 30% 47% AWK Significantly Outperforms on Total Shareholder Return 10% American Water Proxy Peer Group (AWK) 5-Year 3-Year AMERICAN WATER AWK's Strong and Consistent Dividend Growth* ($ rounded) 61% 57% $2.78 $2.57 $2.36 $2.15 $1.96 25% $1.78 22% Philadelphia S&P Utility Index 500 2018 2019 2020 2021 2022 2023E (UTY) Note: TSR as of 12/30/22. Source: FactSet. * Future dividends are subject to approval of the American Water Board of Directors 15 Case No. 2022-00432 Bluegrass Water's Response to PSC 3-25 Exhibit PSC 3-25(b) - Part 1 of 2 Page 15 of 39

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