XORTX Outlines Anticipated Health Canada Clinical Trial Application for XRx-026 for Gout

● Clinical Trial Application planned for filing with Health Canada, extending the Company’s international regulatory strategy for gout program XRx-026 ●

CALGARY, Alberta, Oct. 08, 2026 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (“XORTX” or the “Company”) (NASDAQ: XRTX), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, is pleased to provide an outline of its anticipated Clinical Trial Application (“CTA”) submission to Health Canada for the XRx-026 gout program. The filing supports the Company’s planned two-part clinical study, XRX-OXY-102, evaluating XORLOTM, the Company’s proprietary formulation of oxypurinol, a xanthine oxidase inhibitor, for the treatment of gout. Conducting the first part of the XRX-OXY-102 clinical study in Canada is expected to enable the Company to accelerate the delivery of key clinical data in support of its planned New Drug Application (“NDA”) filing with the U.S. Food and Drug Administration (the “FDA”) for marketing approval.

Recent drug development team activities have included parallel preparation of the CTA for filing with Health Canada. The application describes the Company’s clinical development plan for XRx-026 and its intention to advance the program toward regulatory approval in Canada in parallel with its planned NDA filing with the FDA. Part one of the XRX-OXY-102 clinical trial builds upon the previously reported positive clinical results for the proprietary XORLO™ formulation and extends characterization of the commercial tablet form.

“Advancing our Clinical Trial Application with Health Canada is expected to enable more efficient clinical plan execution and extends our regulatory strategy for XRx-026 globally,” said Dr. Allen Davidoff, Co-Chief Executive Officer of XORTX, who added, “Gout is a growing global burden, and approaches that make more efficient use of our capital, personnel and time are expected to accelerate the availability of XORLO™ to patients wherever the need exists. This, in turn, is anticipated to enhance the overall value of the XRx-026 program for the Company and its shareholders.”

As the XRx-026 program has advanced, the Company has received increased inquiries from potential commercialization partners in a number of jurisdictions. The Company has not entered into any agreement with any such party, and there can be no assurance that any of these discussions will result in a transaction. XORTX looks forward to providing further updates regarding the XRx-026 drug development program as it advances toward the planned CTA and NDA filings.

About Hyperuricemia and Gout

In the United States, approximately 44 million individuals have uric acid levels above the normal range, with 9.2 million individuals living with gout1. Gout is associated with severe pain, reduced quality of life2, decreased physical function3, increased healthcare costs4, and lost economic productivity5. It is also strongly associated with metabolic syndrome5, myocardial infarction6,7, Type 2 diabetes mellitus8, chronic kidney disease9, and premature mortality6,10,11. Importantly, the global prevalence of gout is increasing, with cases expected to increase 70% over the next 25 years*.

* https://pubmed.ncbi.nlm.nih.gov/38996590/

About the XRx-026 Program and XORLO™

The XRx-026 program is developing XORLO™, the Company’s proprietary formulation of oxypurinol, to treat individuals with gout. Oral xanthine oxidase inhibitors (“XOIs”) are the current standard of care for treating hyperuricemia-associated gout. Allopurinol is the recommended first-line therapy for gout; however, limitations remain: approximately 3–5% of patients cannot tolerate allopurinol. An alternative XOI, febuxostat, at one time achieved annual peak net sales >US$450 million, and now carries a boxed warning for cardiovascular risk which has substantially decreased its use and sales. XORLO™ is designed to address this unmet need by providing an alternative therapeutic option with a differentiated safety and efficacy profile. Advancement of XRx-026 through the planned CTA and NDA filings is a strategic priority for XORTX.

References

- Chen-Xu M, et al. Prevalence of Gout and Hyperuricemia in the US. Arthritis Rheumatol. 2019;71(6):991–999.

- Singh JA. Quality of life and quality of care for patients with gout. Curr Rheumatol Rep. 2009;11(2):154–60.

- Burke BT, et al. Physical Function, Hyperuricemia, and Gout in Older Adults. Arthritis Care Res. 2015;67(12):1730–8.

- Rai SK, et al. The economic burden of gout: a systematic review. Semin Arthritis Rheum. 2015;45(1):75–80.

- Choi HK, et al. Prevalence of the metabolic syndrome in individuals with hyperuricemia. Am J Med. 2007;120(5):442–7.

- Choi HK, Curhan G. Independent impact of gout on mortality and risk for coronary heart disease. Circulation. 2007;116(8):894–900.

- Liu S-C, et al. Gout and Risk of Myocardial Infarction: A Systematic Review. PLoS ONE. 2015;10(7):e0134088.

- Choi HK, et al. Gout and the risk of type 2 diabetes among men with high cardiovascular risk profile. Rheumatology. 2008;47(10):1567–70.

- Roughley MJ, et al. Gout and risk of chronic kidney disease and nephrolithiasis: meta-analysis. Arthritis Res Ther. 2015;17(1).

- Kuo C-F, et al. Gout: an independent risk factor for all-cause and cardiovascular mortality. Rheumatology. 2010;49(1):141–6.

- Fisher MC, et al. Premature mortality gap in gout: a general population-based study. Ann Rheum Dis. 2017;76(7):1289–94.

About XORTX Therapeutics Inc.

XORTX is a pharmaceutical company with three clinically advanced products in development: 1) our lead XRx-026 program for the treatment of gout; 2) XRx-008 program for ADPKD; and 3) XRx-101 for acute kidney and other acute organ injury associated with respiratory virus infections. In addition, the Company is developing XRx-225, a pre-clinical stage program for Type 2 diabetic nephropathy, and the recently acquired VB4-P5 program, which is currently at the pre-IND stage of development and targets both rare and prevalent forms of kidney disease. XORTX is working to advance products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX, we are dedicated to developing medications that improve the quality of life and health of individuals with gout and other important diseases.

For more information, please contact:

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as well as “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “intend,” “will,” “designed to,” “enable,” “accelerate,” “extend,” “potential,” “looks forward,” and similar expressions, and include all statements that are not statements of historical fact. These forward-looking statements include, but are not limited to, statements regarding the preparation, timing, content and submission of the Company’s planned CTA to Health Canada for the XRx-026 program; the design, initiation, conduct and completion of the planned two-part XRX-OXY-102 clinical study, including the Company’s plan to conduct the first part of the study in Canada; the Company’s expectation that conducting the first part of the study in Canada will accelerate the delivery of clinical data in support of its planned NDA filing with the FDA; the Company’s regulatory strategy in the United States, Canada and other jurisdictions, including the timing and content of its planned regulatory submissions to the FDA and its intention to advance the XRx-026 program toward regulatory approval in Canada; the Company’s expectations regarding the more efficient use of its capital, personnel and time and the potential to accelerate the availability of XORLO™ to patients; interest from, and the potential for arrangements with, commercialization partners; statements regarding the prevalence of hyperuricemia and gout and the projected growth in the prevalence of gout, which are based on third-party data; and the advancement of the Company’s XRx-026 program, its other development programs, and its strategy.

Forward-looking statements are based on the Company’s current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements.

COLUMBUS, Ohio, May 12, 2026 – American Electric Power (Nasdaq: AEP) today announced the commencement of a registered underwritten offering of $2,600,000,000 of shares of its common stock. Subject to certain conditions, all shares are expected to be borrowed by the forward counterparties (as defined below) (or their respective affiliates) from third parties and sold to the underwriters and offered in connection with the forward sale agreements described below. BofA Securities, Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint book-running managers for this offering.

In connection with the offering, AEP expects to enter into forward sale agreements with each of Bank of America, N.A., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC (the “forward counterparties”) under which AEP will agree to issue and sell to the forward counterparties an aggregate of $2,600,000,000 of shares of its common stock at an initial forward sale price per share equal to the price per share at which the underwriters purchase the shares in the offering, subject to certain adjustments, upon physical settlement of the forward sale agreements. In addition, the underwriters of the offering expect to be granted a 30-day option to purchase up to an additional $390,000,000 of shares of AEP’s common stock upon the same terms. If the underwriters exercise their option to purchase additional shares, AEP expects to enter into additional forward sale agreements with the forward counterparties with respect to the additional shares.

Settlement of the forward sale agreements is expected to occur on or prior to May 31, 2028. AEP may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreements.

If AEP elects physical settlement of the forward sale agreements, it expects to use the net proceeds for general corporate purposes, which may include capital contributions to its utility subsidiaries, acquisitions and/or repayment of debt.

The offering will be made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. The offer may be made only by means of a prospectus and the related prospectus supplement. Copies of these documents may be obtained by contacting:

- BofA Securities by email at dg.prospectus_requests@bofa.com, or by mail at NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department;

- Goldman Sachs & Co. LLC by telephone at (866) 471-2526, by email at Prospectus-ny@ny.email.gs.com, or by mail at Attention: Prospectus Department, 200 West Street, New York, New York 10282; or

- Morgan Stanley & Co. LLC by mail at Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014

ABOUT AEP

American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 32,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

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This report made by the Registrants contains forward-looking statements, and for the Registrants other than Parent, this report contains forward looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements in this document are presented as of the date of this document. Except to the extent required by applicable law, management undertakes no obligation to update or revise any forward-looking statement. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: changes in economic conditions, electric market demand and demographic patterns in AEP’s service territory; the economic impact of increased global conflicts and trade tensions, and the adoption or expansion of economic sanctions, tariffs, trade restrictions or changes in trade policy; inflationary or deflationary interest rate trends; new legislation or regulations adopted in the states in which we operate or federal legislation or regulations adopted that alters the regulatory framework or that prevents the timely recovery of costs and investments; volatility and disruptions in financial markets precipitated by any cause, including fiscal and monetary policy or instability in the banking industry; particularly developments affecting the availability or cost of capital to finance new capital projects and refinance existing debt; the availability and cost of funds to finance working capital and capital needs, particularly (a) if expected sources of capital such as proceeds from the sale of tax credits and anticipated securitizations do not materialize or do not materialize at the level anticipated, and (b) during periods when the time lag between incurring costs and recovery is long and the costs are material; changing demand for electricity, including large load contractual commitments; the risks and uncertainties associated with wildfires, including damages caused by wildfires, the extent of each Registrant’s liability in connection with wildfires, investigations and outcomes associated with legal proceedings, demands or similar actions, inability to recover wildfire costs through insurance or through rates and the impact on financial condition and the reputation of each Registrant; the impact of extreme weather conditions, natural disasters and catastrophic events such as storms, hurricanes, wildfires and drought conditions that pose significant risks including potential litigation and the inability to recover significant damages and restoration costs incurred; limitations or restrictions on the amounts and types of insurance available to cover losses that might arise in connection with natural disasters, wildfires or operations; the cost of fuel and its transportation, the creditworthiness and performance of parties who supply and transport fuel and the cost of storing and disposing of used fuel, including coal ash and SNF; the availability of fuel and necessary generation capacity and the performance of generation plants; the ability to recover fuel and other energy costs through regulated or competitive electric rates; the ability to plan for, develop, construct, acquire, or integrate a broad range of generation and energy storage resources, as well as related transmission and distribution infrastructure, including obtaining necessary regulatory approvals, permits, and incentives; complying with cost caps and other regulatory or contractual requirements; and recovering associated costs and earning an appropriate return while meeting reliability, affordability, environmental, and customer-service obligations; the disruption of AEP’s business operations due to impacts of economic or market conditions, costs of compliance with potential government regulations, electricity usage, supply chain issues, customers, service providers, vendors and suppliers caused by natural disasters or other events; construction and development risks associated with the completion of the 2026-2030 capital investment plan, including shortages or delays in labor, materials, equipment or parts; prolonged or recurring U.S.

COLUMBUS, Ohio, May 18, 2026 – American Electric Power, on behalf of its subsidiary Southwestern Electric Power Company (“SWEPCO”), is seeking proposals from bidders to construct, operate and maintain a natural gas pipeline lateral and associated natural gas facilities (collectively, the “Gas Facilities”) to the Benton Unit 1 CCGT Natural Gas Project (“Plant”) located in Bossier Parish, Louisiana. These Gas Facilities will be utilized to supply the Plant with natural gas as the primary fuel source. Offers of mainline firm transportation capacity are also being sought as part of the proposal package.

Notice of intent to bid must be received on, or before, Monday, June 8, 2026. Proposal packages are due no later than 5 p.m. EST, Wednesday, Sept. 9, 2026, and should be submitted via email to aepfuelsrfp@aep.com. More information can be found here. RFP Summary

About AEP

American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 32,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

CORPUS CHRISTI, Texas (July 8, 2026) – AEP Texas, a subsidiary of American Electric Power (Nasdaq: AEP), has entered into an agreement for a loan of up to $3.26 billion from the U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) to help fund infrastructure investments to improve resiliency and deliver an estimated $685 million in total savings to customers over 30 years.

The loan is to finance a portfolio of nearly 100 projects to enhance grid reliability and support growth in one of the nation’s fastest growing regions. AEP Texas has signed letters of agreement (LOAs) supporting up to 41 gigawatts (GW) of potential new load additions through 2030.

“Texas is poised for incredible growth over the next five years. AEP Texas is committed to enabling this opportunity, while leveraging resources to deliver future savings for our customers,” said Adrian Rodriguez, president and chief operating officer of AEP Texas. “This loan supports critical updates to our transmission infrastructure to strengthen reliability, connect new load and generation resources and manage affordability.”

AEP Texas plans to use the funds to rebuild or reconductor existing transmission lines, as well as build new transmission lines, spanning approximately 2,800 miles. This investment is projected to increase capacity of existing transmission infrastructure and reduce power interruptions for customers.

This loan is part of AEP’s broader strategy across its 11-state service territory to secure federal funding to reduce customer costs while supporting growth and investing in reliability and resiliency.

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About AEP Texas

AEP Texas is connected to over one million customers in the deregulated Texas retail electric marketplace. As an energy delivery (wires) company, AEP Texas delivers electricity safely and reliably to homes, businesses and industry across its nearly 100,000 square mile service territory in south and west Texas. AEP Texas also builds new power lines, restores service following outages and reads the meters via advanced meter technology for retail electric providers (REPs) throughout its service territory. The company also connects or disconnects service upon orders from the REPs. Connect with AEP Texas at AEPTexas.com, on Facebook and on X @aeptexas

COLUMBUS, Ohio, July 9, 2026 – American Electric Power (Nasdaq: AEP) is proud to announce it has been named to TIME’s America's Best Companies 2026 list. AEP ranked in the top three in employee satisfaction and financial performance among electric utility companies.

“We are honored to be recognized as one of America’s best companies,” said Phil Ulrich, AEP executive vice president and chief human resources officer. “This recognition reflects our ongoing efforts to evolve our culture and invest in our employees, who are dedicated to serving our customers and communities every day.”

TIME partnered with Statista to compile the list based on employee satisfaction, financial performance and sustainability. The evaluation combines employee survey feedback from more than 200,000 employees at companies in the United States, multi-year financial results and standardized sustainability metrics covering environmental, social and governance performance to identify top-performing organizations.

About AEP

American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 32,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

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COLUMBUS, Ohio, July 20, 2026 – The Board of Directors of American Electric Power (Nasdaq: AEP) has declared a regular quarterly cash dividend of 95 cents per share on the company’s common stock. The dividend is payable Sept. 10, 2026, to shareholders of record as of Aug. 10, 2026.

About AEP

American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 32,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

Website Disclosure

AEP may use its website as a distribution channel for material company information. Financial and other important information regarding AEP is routinely posted on and accessible through AEP’s website at https://www.aep.com/investors/. In addition, you may automatically receive email alerts and other information about AEP when you enroll your email address by visiting the “Email Alerts” section at https://www.aep.com/investors/.

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FORT WAYNE, Ind., July 20, 2026 – Indiana Michigan Power (I&M) is taking the next step to ensure its customers have reliable power for decades to come, while positioning Rockport, Indiana, for long-term economic success. I&M has requested approval from the Indiana Utility Regulatory Commission (IURC) to build a 1,520 megawatt (MW) natural gas combined cycle generation facility at its Rockport site, to increase its generation capacity and meet the projected energy demand across Indiana.

The project does not impact I&M’s plans to reduce rates for customers. The investment is already contemplated within I&M’s upcoming rate reduction filing and non-fuel rate freeze, reflecting a commitment to meeting future energy needs while maintaining a disciplined approach to customer costs.

Power demand in I&M’s Indiana service area is expected to more than double by the early 2030s, and Rockport’s history and location uniquely position it to play a vital role in answering the call. The Rockport energy site has been powering homes and businesses and providing high-quality skilled jobs for more than 40 years. It offers existing infrastructure, available space and a skilled workforce, along with opportunities for multiple sources of generation.

As the Rockport coal units prepare to retire and the site evolves for other forms of generation, I&M is focused on creating opportunities for current employees and future generations of employees from the Rockport community.

“The new combined cycle facility will deliver dependable baseload energy, allowing us to serve our existing and future customers efficiently and provide electricity at an affordable cost,” said Maryam S. Brown, I&M president and chief operating officer.

“We are pleased that I&M is seeking to build and locate new forms of generation at the Rockport site in the years ahead,” said the members of the Spencer County Board of Commissioners. “Through the years I&M has been a tremendous community partner, and we are excited about our continued collaboration and the benefits we will see for many more decades to come. We are excited that Spencer County is taking the lead in the future growth of our State as I&M takes this important step towards its future energy vision and the benefits it provides our community.”

The new 1,520 MW facility, known as the Rockport Energy Center, is one of the largest utility construction undertakings in Indiana, expected to bring roughly 1,200 construction jobs and 30 to 40 ongoing operational roles. The facility is expected to reduce reliance on market purchases, limiting exposure to price volatility and supporting long-term cost stability for the company and customers.

I&M’s filing for a certificate of public convenience and necessity (CPCN) for the Rockport Energy Center details the anticipated construction timeline, allocation of construction and operational costs, regional transmission capacity and environmental factors, among other project components.

I&M anticipates a decision from the IURC on the Rockport Energy Center CPCN in early 2027. Under this timeline, construction for the project would begin in 2027, and the plant is expected to be operational in the summer of 2030.

Developing the Rockport Energy Center is part of a broader, disciplined generation strategy, as articulated in I&M’s Future Ready plan, which details the resources needed to provide customers with dependable energy and maintain a variety of energy resources.

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About I&M

Indiana Michigan Power (I&M) is headquartered in Fort Wayne, and its approximately 2,000 employees serve more than 600,000 customers. More than 85% of its energy delivered in 2024 was emission-free. I&M has at its availability various sources of generation including 2,278 MW of nuclear generation in Michigan, 450 MW of purchased wind generation from Indiana, more than 22 MW of hydro generation in both states and approximately 35 MW of large-scale solar generation in both states. The company’s generation portfolio also includes 1,497 MW of coal-fueled generation.

About AEP

American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 32,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

COLUMBUS, Ohio, July 21, 2026 – American Electric Power (Nasdaq: AEP) today announced that David Marriott, Chairman of the Board of Marriott International, and Charles Meyers, Executive Chairman and former President and Chief Executive Officer of Equinix, have been elected to AEP’s Board of Directors (the “Board”), effective July 20.

David Marriott brings extensive experience leading large-scale, customer-focused operations for one of the world’s most recognized hospitality companies. Meyers brings deep digital infrastructure expertise from his leadership of Equinix, one of the world’s leading global digital infrastructure companies. Together, their perspectives will provide valuable insight as AEP invests to meet unprecedented energy demand while maintaining its focus on reliability and affordability.

“Charles and David are proven leaders whose experience aligns directly with AEP’s strategy and complements the strong mix of skills already represented on our Board,” said Bill Fehrman, AEP Chairman, President and Chief Executive Officer. “David has spent his career leading complex operations at one of the world’s most recognized service companies, where consistency, execution and customer trust are critical. Charles has led one of the world’s most important digital infrastructure platforms through a period of extraordinary growth, giving him direct insight into the customers and technologies driving this new era of electric demand. We look forward to benefiting from their expertise and leadership as we execute our strategy to meet growing demand, deliver reliable, affordable power for customers and create long-term value for shareholders.”

David Marriott is Chairman of the Board of Marriott International, where he has served as a director since 2021 and as Chairman since 2022. Since joining Marriott in 1999, he has held senior operational, sales and leadership roles across the company, including President, U.S. Full Service Managed by Marriott, where he oversaw more than 330 hotels operating under 14 brands across 34 states and French Polynesia. He also served as Chief Operations Officer, The Americas Eastern Region, where he held an integral role in hotel operations and helped oversee the U.S. integration of Marriott’s acquisition of Starwood Hotels & Resorts.

“AEP serves millions of customers who depend on the company every day,” said David Marriott. “Delivering consistently across a large footprint requires operational discipline, strong teams, trusted relationships and an unwavering commitment to service. I look forward to working with the Board and management team as AEP continues to serve customers and communities across some of the country’s most dynamic regions.”

Meyers was appointed Executive Chairman of Equinix in June 2024 after serving as President and CEO from 2018 to 2024. As CEO, he further strengthened Equinix’s position as a leading global digital infrastructure company, doubling its global data center footprint, strengthening its ecosystem of leading enterprise customers and quadrupling revenues during his tenure. He previously held several senior leadership roles at Equinix, including Chief Operating Officer, President of Strategy, Services and Innovation, and President of the Americas region.

“The digital economy depends on reliable electric infrastructure, and AEP has the footprint, transmission expertise and operating discipline to help meet those needs,” said Meyers. “I am excited to join the Board at such an important time for AEP and contribute to the company’s work building the critical infrastructure needed for the future.”

With these appointments, AEP’s Board will comprise 12 directors, 11 of whom are independent.

ABOUT AEP

American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 32,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

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- Raises full-year 2026 operating earnings guidance to $6.25 to $6.55 per share

- Supports affordability with up to $16 billion in expected cost offsets from load growth and $1.4 billion in expected customer savings from federal loan guarantees and grants

- Expands new load additions to 69 gigawatts (GW) through 2030

- Secures approximately 13 GW of gas-fired turbine capacity; additional 10 GW under evaluation to meet growing demand

COLUMBUS, Ohio, July 30, 2026 – American Electric Power (Nasdaq: AEP) today reported second-quarter 2026 GAAP earnings of $713 million or $1.31 per share, compared with GAAP earnings of $1,226 million or $2.29 per share in second-quarter 2025. Operating earnings for second-quarter 2026 were $742 million or $1.36 per share, compared with operating earnings of $766 million or $1.43 per share in second-quarter 2025. See the detailed GAAP to operating earnings reconciliation at the end of this press release.

AEP is raising its full-year 2026 operating earnings guidance to $6.25 to $6.55 per share from its previous guidance range of $6.15 to $6.45 per share to reflect strong performance through the first half of the year and expected results for the remainder of the year. The company also reaffirmed its annual operating earnings growth rate of 7% to 9% through 2030, with an expected operating earnings compound annual growth rate (CAGR) of greater than 9%, based on the 2025 guidance midpoint and supported by AEP’s five-year, $78 billion capital plan. Additionally, AEP has line of sight to incremental capital investments of more than $10 billion, including the fuel cell project in Wyoming, the Piketon transmission opportunity in Ohio, and incremental generation in AEP’s footprint.

"While I recognize our operating earnings are below last year at this stage due to the 2025 transmission minority interest sale and the timing of tax-related items, I am highly confident in our robust business performance – so much so that we are raising 2026 full-year guidance to $6.25 to $6.55 per share," said Bill Fehrman, AEP chairman, president and chief executive officer.

Affordability and Regulatory Progress

Affordability remains central to AEP’s customer-focused growth strategy. As new large load customers come online, they can help spread the fixed costs across a broader customer base. AEP has identified up to $16 billion in expected cost offsets for residential customers in its vertically integrated utilities that are supported by fully executed take-or-pay electric service agreements.

As an additional affordability measure, AEP continues to utilize grants and low-cost loans from the U.S. Department of Energy (DOE) to drive customer savings. Most recently, AEP Texas secured a DOE loan for up to $3.3 billion to support nearly 100 transmission projects, which is expected to save customers $685 million in interest costs over the life of the loan.

With this financing, AEP has now secured approximately $5 billion in DOE loans across its portfolio, supporting nearly $1 billion in projected customer savings through lower interest costs. Combined with almost $400 million in awarded DOE grants, this DOE funding is expected to deliver nearly $1.4 billion in estimated customer benefits over the life of the loans and grants.

AEP’s operating companies continued to deliver productive regulatory outcomes during the second quarter. These included approval of a distribution base rate decrease for customers in Ohio, approval to add 1.3 GW of generation resources for Oklahoma customers, and completion of a $1.4 billion securitization that allowed Appalachian Power to file its lowest increase in a base rate request in Virginia in nearly 30 years. Virginia also approved a large load tariff in the second quarter, bringing the total number of AEP’s states with approved large load tariffs to five, with three additional state filings pending approval.

"As electricity demand accelerates, we have seen firsthand how growth can lower costs and improve affordability for existing customers. That is why we have led efforts to implement large load tariffs and structure contracts to ensure growth helps pay for growth," said Fehrman. "By leveraging our industry-leading transmission network, securing the resources needed to support reliability and future demand, and working with our regulators and policymakers to drive down costs for customers, we expect to strengthen our communities and create long-term value for all of our stakeholders."

Accelerating Demand Drives Infrastructure Investment

AEP continues to see robust customer demand across its system and is making investments that support reliability, affordability and long-term value for customers, communities and shareholders. The company added an incremental six GW of signed load agreements during the second quarter, primarily in Texas, bringing total contracted load growth through 2030 to 69 GW. The agreements include a diverse set of customers, including hyperscalers, data centers and industrials.

Generation Strategy Advances to Support Growing Customer Base

Significant new generation is required to meet customer energy needs, and AEP has been an early mover to secure the resources needed to serve growing demand reliably.

During the second quarter, AEP secured three additional GW of gas-fired turbine capacity, bringing its total secured capacity to approximately 13 GW for potential deployment through 2031. AEP is also evaluating opportunities to obtain up to 10 GW of additional turbine capacity through 2035. This proactive approach provides greater visibility and flexibility in AEP’s generation planning and reinforces its ability to serve accelerating load growth across the footprint.

"AEP is demonstrating the value of our scale, industry expertise and disciplined focus on execution to benefit our customers," said Fehrman. "We are building partnerships and making strategic investments in generation and transmission that support reliability and affordability while helping customers and communities capture the benefits of generational energy demand growth."

American Electric Power

Preliminary, unaudited results

Summary of Results by Segment

$ in millions, unaudited

Earnings Guidance

AEP management raised its 2026 operating earnings guidance range to $6.25 to $6.55 per share. Operating earnings, which could differ from earnings reported in accordance with GAAP, exclude certain gains and losses and other specified items that management believes are not indicative of AEP’s ongoing performance. AEP management is not able to forecast if any of these items will occur or any amounts that may be reported for future periods. Therefore, AEP is not able to provide a corresponding GAAP equivalent for earnings guidance at this time.

Reflecting certain items recorded through the second quarter, the estimated earnings per share on a GAAP basis would be $6.16 to $6.46 per share. See the table below for a full reconciliation of 2026 earnings guidance.

Webcast

AEP’s quarterly discussion with financial analysts and investors will be broadcast live over the internet at 9 a.m. Eastern today at http://www.aep.com/webcasts. The webcast will include audio of the discussion and visuals of charts and graphics referred to by AEP management. The charts and graphics will be available for download at http://www.aep.com/webcasts.

AEP reports its financial results in accordance with GAAP. AEP supplements its reporting of financial information with certain non-GAAP financial measures, such as operating earnings and operating earnings per share. The most comparable GAAP measure to operating earnings and operating earnings per share is GAAP earnings and GAAP earnings per share, respectively.

This information is intended to enhance an investor's overall understanding of period over period financial results and provide an indication of AEP's baseline operating performance by excluding items that are considered by management to be not directly related to the ongoing operations of the business. In addition, this information is among the primary indicators management uses as a basis for evaluating performance, allocating resources, setting incentive compensation targets and planning and forecasting of future periods. These non-GAAP financial measures are not a presentation defined under GAAP and may not be comparable to other companies' presentations. These non-GAAP measures should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP measures.

About AEP

American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 33,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

Website Disclosure

AEP may use its website as a distribution channel for material company information.

FORT WAYNE, Ind., August 26, 2026 – The state of Indiana has called on utilities to take action to make energy more affordable, and Indiana Michigan Power (I&M) is meeting that call with a plan to deliver savings and stability for customers.

I&M has unveiled one of the nation’s largest base rate reduction plans, which includes approximately $59 million in 2027 bill reductions expected to help a residential customer in Indiana using 1,000 kWh a month save an estimated $100 per year. The plan also provides stability for Indiana residential customers by proposing to freeze all rates on their monthly bill for three consecutive years.

The planned reduction comes as rates for I&M’s Indiana customers have been reduced twice in the first six months of this year, demonstrating I&M’s continued focus on managing costs and delivering value to customers as Indiana’s economy and electricity demand grow. The plan is made possible thanks to load growth and increased revenue from large customers including data centers.

I&M anticipates a decision from the Indiana Utility Regulatory Commission (IURC) on the proposed plan in June 2027. Under this timeline, customers are expected to see savings reflected on their monthly bill starting in summer 2027.

“As Indiana continues to experience unprecedented growth, we are taking action to help our customers benefit from that growth through lower costs, enhanced value and continued investments to strengthen our system,” said Maryam S. Brown, I&M president and chief operating officer. “We are proud to join forces with state leaders to advance economic development and make energy more affordable – while continuing to provide system reliability upgrades.”

Indiana Governor Mike Braun said, “From day one, my administration has focused on making energy more affordable for Hoosiers. Economic growth should not come at the expense of existing customers. Indiana Michigan Power’s proposal shows what’s possible when we create the right environment for investment while keeping Hoosier families front and center. Lower utility bills, long-term rate certainty and continued investment in our electric system are exactly the kinds of results we want to deliver for Indiana.”

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Indiana Michigan Power (I&M) is headquartered in Fort Wayne, and its approximately 2,000 employees serve more than 600,000 customers. More than 85% of its energy delivered in 2024 was emission-free. I&M has at its availability various sources of generation including 2,278 MW of nuclear generation in Michigan, 450 MW of purchased wind generation from Indiana, more than 22 MW of hydro generation in both states and approximately 35 MW of large-scale solar generation in both states. The company’s generation portfolio also includes 1,497 MW of coal-fueled generation.

American Electric Power (Nasdaq: AEP) is committed to improving our customers’ lives with reliable, affordable power. We plan to invest $78 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 18,000 employees operate and maintain the nation’s largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 33,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.