N EWS R ELEASES

Kentucky Power, an American Electric Power (Nasdaq: AEP) company, issued today three Requests for Proposals (RFPs) to secure additional resources to satisfy the needs of its customers. 

The Board of Directors of American Electric Power has elected Julie Sloat chair of the Board, effective Oct. 2. Sloat is AEP’s president and chief executive officer. In addition, Daniel G. "Dan" Stoddard, retired senior vice president, chief nuclear officer and president of Contracted Assets for Dominion Energy, has been elected to the Board.

American Electric Power has completed the sale of its 1,365-megawatt (MW) unregulated, contracted renewables portfolio to IRG Acquisition Holdings, a partnership owned by Invenergy, CDPQ and funds managed by Blackstone Infrastructure, at an enterprise value of $1.5 billion including project debt. AEP nets approximately $1.2 billion in cash after taxes, transaction fees and other customary adjustments.

American Electric Power was named one of the 2023-2024 Best Companies to Work For by U.S. News & World Report.

American Electric Power Company, Inc. announced that on Aug. 30, 2023, it will redeem the entire outstanding $600 million principal amount of its Floating Rate Notes, Series A, due 2023 (CUSIP NO. 025537 AS0). The notes will be redeemed at 100 percent of the principal amount outstanding (at par value of $100 per Senior Note), plus interest through the date of redemption.

• Second-quarter 2023 GAAP earnings of $1.01 per share; operating earnings of $1.13 per share
• 2023 operating earnings (non-GAAP) guidance range reaffirmed at $5.19 to $5.39 per share with long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%
• Sale process announced for two non-core transmission joint ventures; unregulated renewables sale expected to close in August; sale of retail and distributed resources businesses on track

American Electric Power was named in Forbes magazine’s America’s Best Employers for Women 2023 list for the fourth year in a row.

American Electric Power has scheduled a quarterly earnings conference call with financial analysts at 9 a.m. ET Thursday, 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 83 cents a share on the company’s common stock.

Southwestern Electric Power Co., an American Electric Power (Nasdaq: AEP) company, has received approval by the Louisiana Public Service Commission (LPSC) to move forward with its fuel-free power plan to acquire up to 999 megawatts (MW) of renewable generation resources.