American States Water Company Announces a Settlement Agreement Reached at its Regulated Water Utility Subsidiary to Acquire a New Water System

About this update from American States Water Company

SAN DIMAS, Calif., July 20, 2026--(BUSINESS WIRE)--American States Water Company (NYSE:AWR) announced that on July 13, 2026, its regulated water utility subsidiary, Golden State Water Company (GSWC) and the Public Advocates Office (Cal Advocates) at the California Public Utilities Commission (CPUC) filed a joint motion to adopt a settlement agreement between GSWC and Cal Advocates that would approve the asset acquisition of a new water system that serves almost 900 customer connections. In January 2026, GSWC had filed an application with the CPUC to acquire the water system assets from Norwalk, a city in Los Angeles County, for a purchase price of $5.25 million. If the settlement agreement is approved by the CPUC, the new system will be incorporated into one of GSWC's existing ratemaking areas. The CPUC is scheduled to issue a proposed decision in the fourth quarter of 2026. "We are pleased to reach this milestone in our continued efforts to increase our footprint and expand our regulated water utility operations in California," said Robert J. Sprowls, President and CEO of American States Water Company. "Our commitment to sustainable growth allows the company to deliver value to its customers and shareholders, while also continuing to attract capital to make the necessary investments in the utility infrastructure for the communities we serve." Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can often be identified by words such as "anticipate," "estimate," "expect," "intend," "may," "should" and similar phrases and expressions, and variations or negatives of these words. They are not guarantees or assurances of any outcomes, financial results, levels of activity, performance or achievements, and readers are cautioned not to place undue reliance upon them. The forward-looking statements are subject to a number of estimates and assumptions, and known and unknown risks, uncertainties and other factors, including those described in greater detail in the company's filings with the SEC, particularly those described in the company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are encouraged to review the company's filings with the SEC for a more complete discussion of risks and other factors that coul...

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