Investor Presentaiton

Strong and Sustainable Growth Outlook for Future Kil AMERICAN WATER Earnings Growth Affirmed Target Targeting 7-9% EPS growth in our 2023-2027 plan and beyond Dividend Growth ESG Leadership Affirmed Target Targeting 7-9% dividend growth* in our 2023-2027 plan and beyond Adds to TSR Exceptional 82% Total Shareholder Return over last 5 years* ** $ Affordability Adds to TSR <=1% Avg. Monthly Residential Water Bill as % of MHI*** Regulated Investment CAPEX Regulated Acquisitions Military Services 0.2% 0 Group 1.5-2.5% 5-7% ** Future dividends are subject to approval of the American Water Board of Directors. As of 12/30/22 end date. Source: FactSet. *** Estimated Median Household Income (MHI) based on data from the US Census Bureau American Community Survey based on zip codes served by American Water. American Water does not collect household income data from its customers. 18 Case No. 2022-00432 Bluegrass Water's Response to PSC 3-25 Exhibit PSC 3-25(b) - Part 1 of 2 Page 18 of 39

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