N EWS R ELEASES

American Electric Power has completed the sale of its distributed resources business, OnSite Partners, to funds advised by Basalt Infrastructure Partners LLC. 

American Electric Power was named one of the nation’s Top Utilities in Economic Development by Site Selection magazine.

American Electric Power today announced organizational changes to advance the company’s focus on improving service for customers and to support better execution and engagement at the local level. The changes are effective Sept. 1.

American Electric Power was named first in the utility industry on Forbes magazine’s America’s Best Employers for Women 2024 list.

• Second-quarter 2024 GAAP earnings of $0.64 per share; operating earnings of $1.25 per share
• Company reaffirms 2024 operating earnings (non-GAAP) guidance of $5.53 to $5.73 per share and long-term growth rate of 6% to 7%
• Strong data processing load in the commercial customer class positions AEP for further growth, supported by industry-leading transmission system

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

American Electric Power today issued a request for proposal (RFP) for the supply of coal to one or more of its generating stations in multiple coal regions. 

• Fehrman is an accomplished leader with decades of industry experience and expertise

• Benjamin G.S. Fowke III to serve as senior advisor during transition and remain a Board member

American Electric Power’s Board of Directors has elected William J. “Bill” Fehrman as president and chief executive officer, effective Aug. 1, 2024.

American Electric Power announced today it will retain its retail energy business, AEP Energy. The company is reaffirming its 2024 operating earnings guidance of $5.53 to $5.73 per share, long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%.

American Electric Power has entered into an agreement to sell its distributed resources business, AEP OnSite Partners (“OnSite”), to funds advised by Basalt Infrastructure Partners LLC. AEP expects to net approximately $315 million in cash after taxes and transaction fees, subject to customary closing adjustments. The sale is expected to close in the third quarter of 2024, pending regulatory approvals.