American Electric Power — Nov 6, 2024 release

“Commercial load has increased more than 10% year-over-year through the third quarter, and our updated sales projections show that pace accelerating. We expect commercial load to grow an average of 20% annually over the next three years based on customer contracts signed so far. In fact, we now have financial agreements from customers for 20 gigawatts of commercial and industrial load additions through the end of the decade, primarily in Ohio, Texas and Indiana. “We continue to work with our regulators to ensure costs are fairly allocated so we can keep customer rates affordable and make sure all customers benefit from the investments needed to support the growth of data processors and other economic development projects,” he said. “We recently implemented leadership and alignment changes to streamline our corporate structure, move decision making closer to customers and ensure the businesses that drive our revenue have the support they need to improve performance. We also continue to engage our employees to identify process improvements and efficiencies that will reposition the company to support sustainable growth and customer affordability,” Fehrman added. 2 SUMMARY OF RESULTS BY SEGMENT $ in millions GAAP Earnings 3Q 24 3Q 23 Change YTD 24 YTD 23 Change Vertically Integrated Utilities (a) 571.5  512.5  59.0  1,198.0  1,051.6  146.4  Transmission & Distribution Utilities (b) 245.2  206.0  39.2  542.3  508.4  33.9  AEP Transmission Holdco (c) 214.7  202.9  11.8  624.1  580.8  43.3  Generation & Marketing (d) 93.3  130.7  (37.