AEP Increases Quarterly Dividend to 93 Cents a Share

October 22, 2024

COLUMBUS, Ohio, Oct. 22, 2024 - The Board of Directors of American Electric Power Co. (Nasdaq: AEP) today declared a regular quarterly cash dividend of 93 cents a share on the company's common stock, an increase of 5 cents per share.

The dividend is payable Dec. 10, 2024, to shareholders of record as of Nov. 8, 2024, and is the company's 458^th consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910.

"AEP is strengthening our operations to deliver reliable, affordable energy for customers and results for investors," said Bill Fehrman, AEP president and chief executive officer. "Our nearly 115-year history of consecutive quarterly dividends reflects this commitment to providing consistent value to our shareholders. We are proud to continue this tradition while remaining focused on our strategy to enhance service for customers."

About AEP

At American Electric Power, based in Columbus, Ohio, we understand that our customers and communities depend on safe, reliable and affordable power. Our nearly 16,000 employees operate and maintain more than 40,000 miles of transmission lines, the nation's largest electric transmission system, and more than 225,000 miles of distribution lines to deliver power to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity, including nearly 6,000 megawatts of renewable energy. AEP is investing $43 billion over the next five years to make the electric grid cleaner and more reliable. We are on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and have a goal to achieve net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement 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.

WEBSITE DISCLOSURE

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