American Electric Power — May 6, 2025 release

• Growth continues to be driven by commercial load, which increased 12.3% in first-quarter 2025 over the same period in 2024. • First-quarter 2025 GAAP earnings of $1.50 per share; operating earnings of $1.54 per share. • Company reaffirms 2025 operating earnings (non-GAAP) guidance of $5.75 to $5.95 per share and long-term growth rate of 6% to 8%. COLUMBUS, Ohio, May 6, 2025 - American Electric Power (Nasdaq: AEP) today reported first-quarter 2025 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $800 million or $1.50 per share, compared with GAAP earnings of $1,003 million or $1.91 per share in first-quarter 2024. Operating earnings for first-quarter 2025 were $823 million or $1.54 per share, compared with operating earnings of $670 million or $1.27 per share in first-quarter 2024. See the detailed GAAP to operating earnings reconciliation at the end of this press release. “Our robust operating earnings results this quarter reflect our team’s continued focus on execution and innovation to deliver on our commitments to our customers, communities, regulators and investors. This strong performance gives us the confidence to reaffirm our 2025 operating earnings guidance of $5.75 to $5.95 per share. We also reaffirm our projected long-term growth rate of 6% to 8%,” said Bill Fehrman, AEP president and chief executive officer. Meeting Equity Needs to Execute Robust Capital Plan AEP secured funding in the first quarter to complete the anticipated equity needs for its five-year, $54 billion