Regulated Acquisitions and Growth Outlook

Investments Drive Continued Rate Base Growth Foundational to Overall Growth Regulated Capital Investments (Includes Acquisitions) $ in billions Sept. YTD 2022 Sept. YTD 2023 2023E AMERICAN WATER Estimated Rate Base* (Includes Acquisitions) $ in billions ~8-9% CAGR for Rate Base $2.9 $17.8 $19.0 $16.3 $15.0 $13.7 $1.9 $1.8 $11.6 $12.5 2017 2018 2019 2020 2021 2022 9/30/23 2033E Note: annual rate base totals include New York American Water through 2021. New York's 2021 rate base was $0.5 billion. * An approximation of rate base, which includes Net Utility Plant not yet included in rate base, pending rate case filings/outcomes. 10

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