N EWS R ELEASES

• 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.

• 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.

• 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.

• Second-quarter 2022 GAAP earnings of $1.02 per share and $1.20 per share operating
• Company reaffirms 2022 operating earnings (non-GAAP) guidance range of $4.87 to $5.07 and 6% to 7% long-term growth rate
• Continued focus on a responsible clean energy transition through regulated renewables and grid investments
• Kentucky sale expected to close this summer; unregulated renewable sales process will officially launch by early September

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

The Board of Directors of American Electric Power Co. today declared a regular quarterly cash dividend of 78 cents a share on the company’s common stock.

AEP Texas Inc., a public utility subsidiary of American Electric Power, announced that on July 1, 2022, it will redeem the entire outstanding $400 million principal amount of its 2.40% Senior Notes, Series C, due 2022. The notes will be redeemed at 100 percent of the principal amount outstanding (at par value of $100 per Senior Note), plus interest through the date of redemption, plus the required make-whole premium.