Regulated Acquisitions and Growth Outlook

Financing the 2024-2028 Capital Investment Plan ($ in millions) Prior Plan: 2023-2027 New Plan: 2024-2028 AMERICAN WATER Operating Cash Flows $10,100 Operating Cash Flows $12,000 Incremental Debt Financing $5,300 Equity Issuance *$2,000 Incremental Debt Financing Equity Issuance $7,000 $1,000 Sale Proceeds (HOS) $720 Sale Proceeds (HOS) $720 $1.0B equity issuance in 2024-2028 plan, driven by increased five-year capital plan . Likely to issue the planned equity in the middle of the new, 2024-2028 plan, subject to market conditions * $1.7 billion of common stock issued on March 3, 2023 13

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