N EWS R ELEASES

American Electric Power was included in Forbes Best Employers for Diversity 2024 list.

American Electric Power is one of six companies to earn the JUST Jobs Leader designation on the JUST Jobs Scorecard released today. 

American Electric Power has completed the sale of its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus). AEP nets approximately $104 million in cash after tax, transaction fees and other customary adjustments.

• Year-end 2023 GAAP earnings of $4.26 per share; operating earnings of $5.25 per share
• 2024 operating earnings (non-GAAP) guidance range reaffirmed at $5.53 to $5.73 per share with long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%
• Company advances strategic initiatives including de-risking the business, controlling costs and investing in a modern and reliable grid to benefit customers

• AEP Board Member and Former Chairman and CEO of Xcel Energy, Benjamin G.S. Fowke III, Appointed Interim CEO & President
• AEP Lead Director Sara Martinez Tucker Named Chair of the Board

American Electric Power today announced that Benjamin G.S. Fowke III, a member of the company’s Board of Directors and the former chairman and CEO of Xcel Energy, Inc., has been appointed interim chief executive officer and president, effective immediately.

American Electric Power has scheduled a quarterly earnings conference call with financial analysts at 9 a.m. ET Tuesday, Feb. 27. The call will be broadcast live over the internet at http://www.aep.com/webcasts.

Company enters into an agreement with Icahn Capital L.P.

American Electric Power today announced that it has entered into an agreement with Icahn Capital L.P. and certain of its affiliates, under which Hunter C. Gary, senior managing director at Icahn Enterprises L.P., and Henry (“Hank”) P. Linginfelter, retired executive vice president of Southern Company Gas, will join AEP’s Board of Directors, effective today.

American Electric Power has been named to the JUST 100 list for the fourth year in a row. 

American Electric Power received three Outstanding Customer Engagement awards today from the Edison Electric Institute (EEI) and national key accounts customers. This is the eighth time that AEP has received EEI’s top award for providing multi-site customers with superior service.

The Board of Directors of American Electric Power Co. today declared a regular quarterly cash dividend of 88 cents a share on the company’s common stock.