N EWS R ELEASE

October 24, 2024

COLUMBUS, Ohio, Oct. 24, 2024 – American Electric Power (Nasdaq: AEP) 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.

           Fransen will be responsible for all elements of the finance and treasury function including working with banking institutions, investors and rating agencies to support AEP’s capital market needs; cash flow management and forecasting; development of capitalization strategy and monitoring of key credit metrics; and management of AEP’s trusts and investments. He also will lead management of various corporate risks, including markets, credit and insurance.

           “AEP’s investments in a reliable, modern energy system to deliver more value and affordable energy to customers require a strong connection to capital markets,” Zebula said. “Matt’s financial acumen paired with his expertise in corporate strategy will serve us well as AEP increases capital spend to support growth in our footprint and across the country.”

           “Julie has done an exceptional job managing our cash flow strategy and strengthening our relationships with industry stakeholders in the capital markets,” Zebula said. “Her leadership and institutional knowledge were impactful in making the needed investments to build the energy system of the future. We wish Julie all the best in the future.”

           Fransen currently is vice president, New Generation Resource Development, and leads AEP’s efforts to integrate renewable assets into its portfolio. He has held various roles in renewable energy development, including vice president, Renewable Development and Investment of AEP Renewables, a former subsidiary of AEP. Fransen also was a managing director in AEP’s strategic initiatives group and a manager in the company’s treasury organization. Prior to joining AEP, he held various roles with Bank One Corporation.

           Fransen received his bachelor’s and master’s degree in business administration from the Ohio State University.

About AEP

At American Electric Power, based in Columbus, Ohio, we understand that our customers and communities depend on safe, reliable and affordable power. Our nearly 16,000 employees operate and maintain more than 40,000 miles of transmission lines, the nation's largest electric transmission system, and more than 225,000 miles of distribution lines to deliver power to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity, including nearly 6,000 megawatts of renewable energy. AEP is investing $43 billion over the next five years to make the electric grid cleaner and more reliable. We are on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and have a goal to achieve net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.

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