American Electric Power — Feb 13, 2025 release

wth rate of 6% to 8% and FFO/Debt target of 14% to 15% • Commercial load grew by 10.6% in 2024 driven by increased economic development in AEP’s service territory • Company well-positioned to execute historic five-year, $54 billion capital plan to benefit customers and drive growth COLUMBUS, Ohio, Feb 13, 2025 – American Electric Power (Nasdaq: AEP) today reported fourth-quarter 2024 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $664 million or $1.25 per share, compared with GAAP earnings of $336 million or $0.64 per share in fourth-quarter 2023. Operating earnings for fourth-quarter 2024 were $660 million or $1.24 per share, compared with operating earnings of $647 million or $1.23 per share in fourth-quarter 2023. Year-end 2024 GAAP earnings were $2.97 billion or $5.60 per share, compared with GAAP earnings of $2.21 billion or $4.26 per share for year-end 2023. Year-end 2024 operating earnings were $2.98 billion or $5.62 per share, compared with operating earnings of $2.72 billion or $5.25 per share for year-end 2023. Operating earnings is a non-GAAP measure representing GAAP earnings excluding certain items. A full reconciliation of GAAP earnings to operating earnings for the quarter and year-to-date is included in the tables at the end of this news release. “AEP is delivering on our commitment to provide safe, reliable and affordable power for the customers we