2019 Investor Day

AMERICAN WATER What You Will Hear Today...Our Compelling Story 2020-2024 Plan 7-10%* EPS CAGR range Market Based Businesses 1-2% Regulated 1-2% Acquisitions Regulated Investment CAPEX 5-7% *Anchored off of 2018 Adjusted EPS (a non-GAAP measure) Continued industry leading growth Addressing Water Quality Challenges Regulated investment continues to be the foundation of our growth Highly fragmented water industry provides opportunity Disciplined equity used to support increased capital 10

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