N EWS R ELEASES

Public Service Company of Oklahoma (PSO) today asked the Oklahoma Corporation Commission (OCC) for approval of its fuel-free power plan to purchase three new wind farms and three new solar facilities. This proposed plan will help meet projected power needs while protecting customers from volatility in energy costs driven by high natural gas and power prices.

• Reaffirmed 2022 operating earnings guidance range of $4.97-$5.07 per share and midpoint of $5.02; 2023 operating earnings guidance range of $5.19 to $5.39 per share
• Five-year, $40 billion capital plan emphasizes investment in wires and renewables
• Company’s 10-year regulated generation plan outlines nearly 15,700 MW of renewables and energy storage to meet capacity needs, manage customer affordability and support 2045 net zero target

American Electric Power has named Ann P. Kelly executive vice president and chief financial officer (CFO), effective Nov. 30. Kelly is currently vice president of finance and CFO for AmeriGas Propane, Inc., a UGI Corp. subsidiary.

American Electric Power has been named one of the Best ESG Companies by Investor’s Business Daily. The list recognizes publicly traded companies that combine high Dow Jones sustainability scores with strong financial performance.

• Third-quarter 2022 GAAP earnings of $1.33 per share and $1.62 per share operating
• Company reaffirms narrowed 2022 operating earnings (non-GAAP) guidance range of $4.97 to $5.07, raised midpoint of $5.02, and 6% to 7% long-term growth rate
• $40 billion, five-year capex plan focuses on robust pipeline of wires investments and renewable generation to drive the clean energy transition

The Board of Directors of American Electric Power Co. today declared a regular quarterly cash dividend of 83 cents a share on the company’s common stock, an increase of 5 cents per share. The increase is in line with the company’s 6% to 7% operating earnings growth range.

American Electric Power has scheduled a quarterly earnings conference call with financial analysts at 9 a.m. ET Thursday, Oct.  27. The call will be broadcast live over the internet at http://www.aep.com/webcasts.

American Electric Power has been named one of the nation’s Top Utilities in Economic Development by Site Selection magazine.

American Electric Power, on behalf of its subsidiary Public Service Company of Oklahoma, today issued a request for proposal (RFP) for firm physical natural gas storage service.

• 2022 operating earnings guidance narrowed to $4.97-$5.07 per share and midpoint raised to $5.02; 2023 operating earnings guidance range of $5.19 to $5.39 announced
• Emission reduction targets accelerated, including new net zero goal by 2045 and 80% reduction in full Scope 1 emissions by 2030 from 2005 baseline
• Strategic review of retail energy business will begin; company on track to divest unregulated renewable assets and complete Kentucky sale

American Electric Power  plans to invest in its regulated businesses, accelerate its carbon reduction targets and streamline the business to drive value for customers, communities and investors. AEP leadership will share the company’s financial plan and strategy with analysts in New York City today. The presentation will be webcast live at 1:30 p.m. ET at https://aep.com/investors/events.