Company: AWK
Filing Date: 2025-10-27
Form Type: 425
Source: 0001193125-25-250649
Chunk: 193

Company: American Water Works Company, Inc.
Filing Date: 2025-10-27
Form: 425
Chunk 193
---
9% RATE BASE GROWTH Long-Term EPS CAGR Target 1 100% Regulated and Regulated-Like Earnings 8% - 9% (includes acquisitions) ~ RATE BASE GROWTH 7% - 9% Dividend Per Share Growth REGULATED ACQUISITIONS 8% - 9% (includes acquisitions) 2% Customer Additions 55% - 60% Dividend Payout Ratio REGULATED ACQUISITIONS ORGANIC GROWTH 2% Customer Additions Expansion of customer base in <60% Debt to Capital attractive states MILITARY SERVICES GROUP Customer Affordability + Maximize Service Quality MILITARY SERVICES GROUP Maximize Service Quality Sustainability Leadership + 1. Regulated-like earnings refers to Military Services Group. 8

Highly Attractive Footprint with Scale and Scope for Growth Top 12 States by Combined 2024A Water & Wastewater Rate Base AMERICAN WATER + ESSENTIAL CA PA MO IL IN 1 2 NJ $34B $41B 2024A Rate Base 2026E Rate Base $10.4B $5.3B $3.2B $3.0B $1.8B $1.2B 3 $40B Market Capitalization NC TX KY OH VA WV 4 17 5.4M + $0.9B $0.7B $0.6B $0.6B $0.5B $0.4B Regulated States U.S. Connections AWK + WTRG AWK WTRG 1. Includes gas rate base of $4.2B and Net Utility Plant not yet included in rate base, pending rate case filings/outcomes. 2. Includes gas rate base of $5.2B and ~$378M in regulated growth (BD) and topside. 9 3. As of 10/24/2025. 4. Includes ~0.8M gas connections in PA and KY as of 12/31/2024.

Diversified Regulated Portfolio Across 17 States 1 2 Footprint by State COMBINED RATE BASE Water & Wastewater Total 4 3 Other Other NC, 1% NC 1% 2% 2% VA, 2% VA 2% PA WA OH, 2% OH 2% PA 35% TX, 2% KY