2023 Earnings and Growth Projections

General Rate Case and Regulatory Updates AMERICAN WATER CALIFORNIA AMERICAN WATER INDIANA AMERICAN WATER WEST VIRGINIA AMERICAN WATER KENTUCKY AMERICAN WATER VIRGINIA • Rate Cases in Progress Rate case filed 7/1/22 • Will establish rates for the period 2024-2026 Three-year capital investment of $462 million • Rates expected to be effective beginning Jan. 2024 • Rate case filed 3/31/23 • • Capital Investment of $875 million • Rates expected to be effective over three steps beginning Jan. 2024, May 2024, and May 2025 • Rate case filed 5/1/23 • Capital Investment of $340 million • Rates expected to be effective beginning Feb. 2024 • Rate case filed 6/30/23 • Capital Investment of $330 million • Rates expected to be effective beginning Feb. 2024 • Completed Rate Cases in 2023 • General Rate Case • Additional authorized revenues of $11 million Federal PFAS Recap On March 14, 2023, the United States Environmental Protection Agency (EPA) announced the proposed National Primary Drinking Water Regulations for six per- and polyfluoroalkyl substances (PFAS). Based upon preliminary estimates, American Water believes an investment in excess of $1 billion of capital to install additional treatment facilities over a 3 to 5-year period could be possible in order to comply with the rule as proposed. We also believe operating expenses related to testing and treatment could be near $50 million annually. American Water is currently part of Multi-District Litigation against multiple PFAS manufacturers because we firmly believe that the ultimate responsibility for the cleanup of these contaminants should fall to the polluters. MISSOURI AMERICAN WATER • • General Rate Case • Additional authorized revenues of $95 million, including $51M for infrastructure surcharges previously approved Other Regulatory Updates On June 29, the California CPUC issued a decision on the cost of capital application authorizing an 8.98% ROE with an equity component of 57.04%. On June 30, Cal Am filed an advice letter to seek a 52 basis point increase to Cal Am's ROE for 2023, which was approved on July 25, increasing the return on equity to 9.50%, effective July 31. AMERICAN WATER • Effective 4/24/23 • Effective 5/28/23 16

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