AWK Growth Outlook and Military Services Strategic Value

Strategies for Growth thru Regulated Acquisitions AWK Growth Outlook 7-9% EPS CAGR Target (2022-2026 Plan) Regulated Acquisitions Regulated Investment CAPEX Military Services 0.2% Group 1.5-2.5% 5-7% AMERICAN WATER Regulated Acquisition Strategy Fundamentals Continued focus on acquisitions in the target range of 5,000 to 50,000 customers; larger acquisitions where appropriate Achieve (on avg.) 55,000 to 85,000 new customer connections annually; $300-400M/year avg. investment Leverage water footprint to acquire wastewater systems Leadership in legislative/regulatory policy to benefit customers and advance solutions to industry challenges Continue to build robust pipeline of opportunities ESG ESG™ at AWK 12

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