2023 Earnings and Growth Projections

Timely Recovery of Capital and Operating Costs AMERICAN WATER 1 2 American Water's Jurisdictions 10 10 As of 2010 As of 2022 11 11 5 5 10 7 1 6 6 Revenue Stabilization Infrastructure Mechanisms Expense Mechanisms Consolidated Tariffs Fair Value Forward Looking Test Year Capital Recovery (2023-2027 Plan) Infrastructure Surcharge Mechanisms =45% Forward Test Years ≈30% Traditional Recovery =25% 26

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