N EWS R ELEASES

• CFO Julie A. Sloat named president effective immediately, CEO effective Jan. 1
• Nicholas K. Akins will become executive chair Jan. 1

American Electric Power’s Board of Directors has appointed Julie A. Sloat president and chief financial officer, effective immediately. She has been elected chief executive officer, effective Jan. 1, 2023. Sloat is AEP’s 11th president and will become the seventh CEO in the company’s 116-year history. She is currently executive vice president and CFO. The company expects to name a new CFO before Jan. 1.

American Electric Power has completed the sale of the 595-megawatt (MW) Cardinal Plant Unit 1 in Brilliant, Ohio, from AEP Generation Resources, the company’s competitive generation affiliate, to Buckeye Power.

American Electric Power has named Renee V. Hawkins vice president – Finance & Treasury, effective Aug. 6.

• Second-quarter 2022 GAAP earnings of $1.02 per share and $1.20 per share operating
• Company reaffirms 2022 operating earnings (non-GAAP) guidance range of $4.87 to $5.07 and 6% to 7% long-term growth rate
• Continued focus on a responsible clean energy transition through regulated renewables and grid investments
• Kentucky sale expected to close this summer; unregulated renewable sales process will officially launch by early September

American Electric Power was included in Forbes magazine’s America’s Best Employers for Women 2022 list for the third consecutive year.

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

The Board of Directors of American Electric Power Co. today declared a regular quarterly cash dividend of 78 cents a share on the company’s common stock.

American Electric Power today announced several leadership changes within its External Affairs organization to support the company’s regulatory, public policy and customer service strategies. The changes are effective July 2.

Donna A. James, managing director and founder of Lardon & Associates, LLC, has been elected to the American Electric Power Board of Directors.

American Electric Power was included in Forbes magazine’s 2022 America’s Best Employers For New Grads list.