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California American Water Completes Acquisition of Bass Lake Water Company

1. California American Water acquired Bass Lake Water Company for 1,000 customers. 2. The acquisition affirms commitment to improving water infrastructure in California. 3. The water service transition starts August 19, 2025, enhancing customer services. 4. This marks California American Water's eighth acquisition, adding 13,000 customers since 2020. 5. The agreement secures expertise to optimize local water treatment services.

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Why Bullish?

AWK's acquisition strategy shows growth potential, similar to past effective expansions.

How important is it?

The acquisition could improve AWK's market position and revenue from new customers.

Why Long Term?

Acquisitions yield benefits over time, enhancing customer base and service quality.

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California American Water announced today that it has completed its acquisition of the Bass Lake Water Company system. The purchase of the system, which serves approximately 1,000 customers, was previously approved by the California Public Utilities Commission (CPUC) and reflects California American Water's ongoing commitment to strengthening water infrastructure and enhancing service in communities around the state.

"We're thrilled to begin providing Bass Lake customers with high-quality water service," said Kevin Tilden, President, California American Water. "We anticipate a smooth transition of services, delivering valuable experience, expertise, and a comprehensive range of customer service programs provided by California American Water to our new customers."

California American Water will begin to provide water service to Bass Lake customers on August 19, 2025. Residents will receive additional information in the mail from California American Water within the next week to facilitate a smooth transition. Bass Lake residents will be able to take advantage of the company's customer service benefits, including its online account management portal, MyWater. Additional information is also available on a dedicated webpage, Bass Lake Water, on the company's website at californiaamwater.com.

"This agreement is a win for our community," said Steve Wetch, President of Bass Lake Water Company. "By selling the water system to California American Water we're securing the needed expertise to successfully operate our new water treatment plant and make required infrastructure improvements to provide high-quality service. The residents of Bass Lake will benefit from these improvements for decades to come."

This is California American Water's eighth acquisition in the past five years, adding more than 13,000 new water and/or wastewater customers since 2020.

About American Water

American Water (NYSE:AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water's 6,700 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About California American Water

California American Water, a subsidiary of American Water provides safe, clean, reliable and affordable water and wastewater services to approximately 700,000 people.

For more information, visit www.californiaamwater.com and follow California American Water on LinkedIn, Facebook, X, and Instagram.

Media Contact:

Jason Alviar

Manager, External Affairs

California American Water

Phone: (916) 291-1195

Email: Jason.Alviar@amwater.com

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