N EWS R ELEASES

This customer-focused effort is the largest utility fuel cell initiative in the country

AEP is offering large customers a custom solution to support their growing energy needs with fuel cell technology. AEP has an agreement in place to secure up to 1 gigawatt (GW) of Bloom Energy solid oxide fuel cells for data centers and other large energy users who need to quickly power their operations while the grid is built out to accommodate demand. This is the largest utility fuel cell technology initiative in the nation.

In a major step toward securing Virginia’s reliable energy future, Appalachian Power announces plans to bring Small Modular Reactors (SMRs) to Virginia. Appalachian Power representatives identified a potential site for an SMR project on company-owned Joshua Falls property in Campbell County, Virginia, and plan to begin the Early Site Permit Application process. This site provides access to existing electrical infrastructure that is necessary for a generation project. The site includes a 765 kilovolt substation and nearby roadways can support moving the necessary equipment onsite.

• Third-quarter 2024 GAAP earnings of $1.80 per share; operating earnings of $1.85 per share
• Narrows 2024 operating earnings (non-GAAP) guidance to $5.58 to $5.68 per share, maintaining $5.63 midpoint
• Announces new long-term growth rate of 6% to 8% based off of 2025 operating earnings guidance of $5.75 to $5.95 per share 
• Expands five-year capital plan to $54 billion to support reliability and demand growth

American Electric Power today announced leadership and organizational changes that will empower local operations, drive growth and create value for customers and stakeholders. The changes are effective today.

American Electric Power has named Matthew Fransen senior vice president, Finance and Treasurer, effective Dec. 1. He will succeed Julie Sherwood, who is retiring after 20 years with the company. Fransen will report to Chuck Zebula, executive vice president and chief financial officer.

AEP Ohio has filed a settlement agreement that addresses the extreme power needs of Ohio’s growing data center industry while protecting AEP Ohio’s other customers. The staff of the Public Utilities Commission of Ohio, the Ohio Consumers’ Counsel (OCC), the Ohio Energy Group (OEG), Ohio Partners for Affordable Energy, and Walmart joined AEP Ohio in the filing.

 The Board of Directors of American Electric Power Co. today declared a regular quarterly cash dividend of 93 cents a share on the company’s common stock, an increase of 5 cents per share.

Marc Reitter, AEP Ohio president and chief operating officer, releases a statement regarding the Unsupported Data Center Stipulation.

American Electric Power has named utility industry veteran Joseph F. Moore IV senior vice president, Business Transformation, effective today. Moore will report to AEP President and Chief Executive Officer Bill Fehrman.

American Electric Power has completed the sale of its distributed resources business, OnSite Partners, to funds advised by Basalt Infrastructure Partners LLC.