2019 Investor Day

AMERICAN WATER Our Compelling Story 2020-2024 Plan 7-10%* EPS CAGR range Market Based Businesses 1-2% Regulated Acquisitions 1-2% Regulated Investment CAPEX 5-7% Largest and most geographically diverse water utility in the United States Regulated investment is the foundation of our growth Leveraging technology to enhance customer experience and O&M/Capital efficiency ✔ Our leadership reflects our communities Our highly fragmented industry provides opportunity Reliability and steady execution *Anchored off of 2018 Adjusted EPS (a non-GAAP measure) Purpose driven, delivering value to communities 35

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