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June 21, 2022

AEP Names James to Board of Directors

COLUMBUS, Ohio, June 21, 2022 – Donna A. James, managing director and founder of Lardon & Associates, LLC, has been elected to the American Electric Power (Nasdaq: AEP) Board of Directors.

“Donna is a recognized authority in corporate governance, business strategy and human resources, as well as a respected Ohio business leader,” said Nicholas K. Akins, AEP chairman, president and chief executive officer. “Her vast experience in the public and private sector will be incredibly valuable as we work to enhance service for our customers, transform our workforce and drive growth. We look forward to her insights as we build a cleaner, brighter energy future for the communities we serve.”

James, 64, has been managing director and founder of Lardon & Associates, LLC since 2006. She previously worked for more than 25 years at Nationwide Mutual Insurance Co. where she held various positions of increasing responsibility, including executive vice president and chief administrative officer and president of Nationwide Strategic Investments. James received her bachelor’s degree in accounting from North Carolina Agricultural and Technical State University.

She is the chair of the board of Victoria’s Secret & Co. and a member of the boards of Boston Scientific Corp. and The Hartford Financial Services Group. She also is a board trustee for OhioHealth and co-executive for the African American Leadership Academy.

David Anderson resigned from the Board of Directors after reaching the retirement age for outside Directors. He served on AEP’s Board for 11 years.

“David’s leadership and expertise have been invaluable to us for more than a decade,” Akins said. “We thank him for his considerable contributions, and we wish him all the best.”

American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP’s approximately 16,700 employees operate and maintain the nation’s largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 7,100 megawatts of renewable energy. The company’s plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2030. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2000 levels by 2030 and has committed to achieving net zero by 2050. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.

MEDIA CONTACT:   ANALYSTS CONTACT:
Sarah Devine
Corporate Media Relations
614/716-2011
  Darcy Reese
Vice President, Investor Relations
614/716-2614

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October 04, 2022

AEP Shares Updates on Strategic Initiatives, Highlights Planned Capital Investments in Renewables and Energy Grid

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  • Emission reduction targets accelerated, including new net zero goal by 2045 and 80% reduction in full Scope 1 emissions by 2030 from 2005 baseline
  • Strategic review of retail energy business will begin; company on track to divest unregulated renewable assets and complete Kentucky sale

American Electric Power  plans to invest in its regulated businesses, accelerate its carbon reduction targets and streamline the business to drive value for customers, communities and investors. AEP leadership will share the company’s financial plan and strategy with analysts in New York City today. The presentation will be webcast live at 1:30 p.m. ET at https://aep.com/investors/events.

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AEP and Liberty Reach Amended Agreement on Sale of Kentucky Operations

American Electric Power has signed an amended agreement on the sale of its Kentucky operations to Liberty and expects to close on the sale in January 2023 following approval of the transaction from the Federal Energy Regulatory Commission (FERC), which is due by Dec. 16. The amendment has no impact on AEP’s planned equity needs or operating earnings guidance.

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