American Electric Power — Oct 29, 2025 release

Operating earnings for third-quarter 2025 were $963 million or $1.80 per share, compared with operating earnings of $985 million or $1.85 per share in third-quarter 2024. See the detailed GAAP to operating earnings reconciliation at the end of this press release. AEP reaffirms its 2025 operating earnings guidance range of $5.75 to $5.95 per share and expects results to be in the upper half of the range. AEP today announced a new, increased long-term operating earnings growth rate of 7-9% over the next five years, bolstered by a $72 billion capital plan and supported by an expected 10% annual growth in rate base. During the first two years of the company’s plan, annual operating earnings growth is anticipated to be in the lower half of the range and at or above the high end of the range in 2028-2030. As infrastructure projects are put into service to meet customer demand, AEP expects operating earnings per share to increase at a 9% compounded annual growth rate over the five-year period. The rapidly accelerating load growth also supports AEP’s 2026 operating earnings guidance of $6.15 to $6.45 per share. 1 Infrastructure for the Future AEP’s revised capital plan is based on customer commitments and the infrastructure needed to meet unprecedented power requirements, driven by large load customers including data centers and industrials. The confidence in the 28 gigawatts (GW) of load additions by 2030, up 4 GW since July 2025, is backed by Electric Service Agreements or Letters of Agreement and is supported by an additional 1