Contract

1 AMERICAN STATES WATER COMPANY 2016 STOCK INCENTIVE PLAN 2024 PERFORMANCE AWARD AGREEMENT THIS PERFORMANCE AWARD AGREEMENT (this “Agreement”) is dated as of [ ], 2024 by and between American States Water Company, a California corporation (the “Corporation”), and [ ] (the “Participant”). W I T N E S S E T H WHEREAS, pursuant to the American States Water Company 2016 Stock Incentive Plan (the “Plan”), the Corporation has granted to the Participant effective as of the date hereof (the “Award Date”), an award of Performance Awards under the Plan (the “Award”), upon the terms and conditions set forth herein and in the Plan. NOW, THEREFORE, in consideration of services rendered and to be rendered by the Participant, and the mutual promises made herein and the mutual benefits to be derived therefrom, the parties agree as follows: 1. Defined Terms. Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to such terms in the Plan. The following phrases shall have the following meanings: “Aggregate GSWC Operating Expense Level” means the cumulative operating expenses of GSWC as reported in the Corporation’s Form 10-Ks filed with the Securities and Exchange Commission for the period beginning January 1, 2024 and ending on the last day of the Performance Period, as adjusted to remove (i) Water Supply, depreciation and amortization and maintenance expenses as reported in such Form 10-Ks, (ii) public relations, legal and other professional services expenses of GSWC during the Performance Period applicable to defending GSWC from condemnation considerations and actions applicable to GSWC, (iii) any costs of defense, costs of settlement and judgments incurred in connection with claims arising from water quality incidences accruing during the Performance Period which are incurred in connection with claims determined by the Compensation Committee to be extraordinary events, (iv) write-offs associated with decisions or actions of the CPUC applicable to the financial statements in the Performance Period for GSWC, (v) gross-up of certain surcharges authorized by the CPUC to recover previously incurred costs recorded pursuant to generally accepted accounting principles, (vi) pension cost net of any regulatory adjustment included in operating expenses resulting from the two-way pension balancing account as authorized by the CPUC, and (vii) external regulatory expenses associated with the General Rate Case and Cost of Capital proceedings at the CPUC. “ASUS” means American States Utility Services, Inc., a wholly subsidiary of the Corporation. “ASUS Cumulative Net Earnings” means the cumulative net income of ASUS and its subsidiaries for the period beginning January 1, 2024 and ending on the last day of the Performance Period, less the amount, if any, of adjustments made to our contract pricing due to the Tax Cuts and Jobs Act of 2017.

2 “ASUS New Base Acquisition Success Rate” means the percentage that results from dividing (1) the sum of the amounts of the contract awards announced by the Department of Defense for the Targeted New Bases set forth in the Targeted New Base Acquisition Table for the Targeted New Bases awarded to ASUS during 2024-2026 plus the sum of the Initial Joint Inventory Adjustment Difference for any Targeted New Bases (the numerator), by (2) the sum of the amount of contract awards announced by the Department of Defense during 2024-2026 for the Targeted New Bases set forth in the Targeted New Base Acquisition Table for the Targeted New Bases awarded to all competitors during 2024-2026, including ASUS, plus the sum of the Initial Joint Inventory Adjustment Difference for any Targeted New Bases (the denominator). If there are contracts that are not in the Targeted New Base Acquisition Table, but are announced as being awarded during the performance period, the contract values shall be included in the numerator, if for ASUS, and the denominator, for ASUS and any competitor, to calculate the ASUS New Base Acquisition Success Rate. “Board of Directors” means the Corporation’s board of directors. “Compensation Committee” means the compensation committee of the Board. “CPUC” means the California Public Utilities Commission. “GSWC” means Golden State Water Company, a wholly owned subsidiary of the Corporation. “Initial Joint Inventory Adjustment Difference” means, with respect to any Targeted New Base, the difference between (1) the amount of the contract award for such Targeted New Base at the time of the execution of the Bill of Sale for such Targeted New Base following a joint inventory of the assets at such Targeted New Base, and (2) the amount of the contract award for such Targeted New Base announced by the Department of Defense at the time of the contract award. “Payout Percentage” means, with respect to each Performance Criteria, the percentage of the Participant’s Target Performance Award that is payable with respect to such Performance Criteria based on the degree of satisfaction of the Performance Target for such Performance Criteria. “Peer Group” means the following seven companies: American Water Works Company, Inc., Essential Utilities, Inc., California Water Service Group, SJW Group, Middlesex Water Company, York Water Company and Artesian Resources Corporation. For this purpose, total shareholder return for the Corporation and each of the other seven companies shall be calculated using the Securities and Exchange Commission guidelines for reporting financial performance. If the stock of any of the members of the Peer Group is no longer traded or is suspended from trading as of the last business day of the Performance Period, that company shall not be included in the Peer Group. “Performance Criteria” means ASUS Cumulative Net Earnings, ASUS New Base Acquisition Success Rate, Aggregate GSWC Operating Expense Level and Total Shareholder Return.

9 manner other than as provided in this Agreement, then (subject to Section 7(e)) the terms of such change in control or other agreement shall control the vesting and payment thereof. 13. Entire Agreement. This Agreement and the Plan together constitute the entire agreement and supersede all prior understandings and agreements, written or oral, of the parties hereto with respect to the subject matter hereof. The Plan and this Agreement may be amended pursuant to Section 5.6 of the Plan. Such amendment must be in writing and signed by the Corporation. The Corporation may, however, unilaterally waive any provision hereof in writing to the extent such waiver does not adversely affect the interests of the Participant hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision or a waiver of any other provision hereof. 14. Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Corporation as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Corporation, with respect to amounts credited and payable, if any, with respect to the Performance Awards, and rights no greater than the right to receive the Common Shares as a general unsecured creditor with respect to such Awards, as and when payable hereunder. 15. Counterparts. This Agreement may be executed simultaneously in any number of counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 16. Section Headings. The section headings of this Agreement are for convenience of reference only and shall not be deemed to alter or affect any provision hereof. 17. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of California without regard to conflict of law principles thereunder. 18. Construction. It is intended that the terms of the Award will not result in the imposition of any tax liability pursuant to Section 409A of the Code. This Agreement shall be construed and interpreted consistent with that intent. 19. Recoupment. The Award under this Agreement and the Common Shares received by the Participant upon the vesting of the Award, or the value, proceeds or other benefits received by the Participant upon the sale of such Common Shares, shall be subject to the Corporation’s Policy Regarding the Recoupment of Certain Performance-Based Compensation Payments, as it may be amended from time to time, or as otherwise required by law or as may be necessary to enable the Corporation to comply with the rules of the New York Stock Exchange or the rules of any other national securities exchange or national securities association on which the securities of the Corporation or any of its subsidiaries may be listed.

10 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be executed on its behalf by a duly authorized officer and the Participant has hereunto set his or her hand as of the date and year first above written. AMERICAN STATES WATER COMPANY, a California corporation By:____________________________________ Print Name:_____________________________ Its:____________________________________ PARTICIPANT Signature: ______________________________ Print Name: ____________________________

11 CONSENT OF SPOUSE In consideration of the execution of the foregoing Performance Award Agreement by American States Water Company, I, __________________, the spouse of the Participant therein named, do hereby join with my spouse in executing the foregoing Performance Award Agreement and do hereby agree to be bound by all of the terms and provisions thereof and of the Plan. Dated: ______________________________ Signature: ____________________________________ Print Name: __________________________________

12 EXHIBIT A 2024 PERFORMANCE AWARD AGREEMENT Target Performance Award for Each Performance Criteria A. Total Shareholder Return B. Aggregate GSWC Operating Expense Level C. ASUS Cumulative Net Earnings D. ASUS New Base Acquisition Success Rate Target Total [ ] [ ] [ ] [ ] [ ] A. Performance Targets and Payout Percentages for Total Shareholder Return: 1. If the Peer Group consists of seven companies at the end of the Performance Period: Total Shareholder Return Payout as a Percentage of Target ≥ 7 members of the Peer Group 200% ≥ 6 members of the Peer Group 171.43% ≥ 5 members of the Peer Group 142.86% ≥ 4 members of the Peer Group 114.29% ≥ 3 members of the Peer Group 85.71% ≥ 2 members of the Peer Group 57.14% ≥ 1 member of the Peer Group 28.57% 2. If the Peer Group consists of six companies at the end of the Performance Period: Total Shareholder Return Payout as a Percentage of Target ≥ 6 members of the Peer Group 200% ≥ 5 members of the Peer Group 166.67% ≥ 4 members of the Peer Group 133.33% ≥ 3 members of the Peer Group 100% ≥ 2 members of the Peer Group 66.67% ≥ 1 member of the Peer Group 33.33% 3. If the Peer Group consists of five companies at the end of the Performance Period: Total Shareholder Return Payout as a Percentage of Target ≥ 5 members of the Peer Group 200% ≥ 4 members of the Peer Group 160% ≥ 3 members of the Peer Group 120% ≥ 2 members of the Peer Group 80% ≥ 1 member of the Peer Group 40%

13 4. If the Peer Group consists of four companies at the end of the Performance Period: Total Shareholder Return Payout as a Percentage of Target ≥ 4 members of the Peer Group 200% ≥ 3 members of the Peer Group 150% ≥ 2 members of the Peer Group 100% ≥ 1 member of the Peer Group 50% 5. If the Peer Group consists of three companies at the end of the Performance Period: Total Shareholder Return Payout as a Percentage of Target ≥ 3 members of the Peer Group 200% ≥ 2 members of the Peer Group 133.33% ≥ 1 member of the Peer Group 66.67% 6. If the Peer Group consists of two companies at the end of the Performance Period: Total Shareholder Return Payout as a Percentage of Target ≥ 2 members of the Peer Group 200% ≥ 1 member of the Peer Group 100% 7. If the Peer Group consists of one company at the end of the Performance Period: Total Shareholder Return Payout as a Percentage of Target ≥ 1 member of the Peer Group 150% B. Performance Targets and Payout Percentages for Aggregate GSWC Operating Expense Level Aggregate GSWC Operating Expense Level Payout as a Percentage of Target ≤$340.1 million 150% >$340.1 million and ≤$346.1 million 125% >$346.1 million and ≤$366.1 million 100% >$366.1 million and ≤$372.1 million 75% >$372.1 million and ≤$378.1 million 50% >$378.1 million 0%

14 C. Performance Targets and Payout Percentages for ASUS Cumulative Net Earnings ASUS Cumulative Net Earnings Payout as a Percentage of Target ≥$69.2 million 200% ≥$66.2 million and <$69.2 million 150% ≥$63.2 million and <$66.2 million 125% ≥$57.2 million and <$63.2 million 100% ≥$54.2 million and <$57.2 million 75% ≥$51.2 million and <$54.2 million 50% <$51.2 million 0% D. Performance Targets and Payout Percentages for ASUS New Base Acquisition Success Rate New Base Acquisition Success Rate Payout as a Percentage of Target 100% 250% 70% 200% 45% 150% 20% 100% 10% 50% 0% 0% If the U.S government does not award at least two of the Targeted New Bases to all competitors, including ASUS, during the 2024-2026 Performance Period, the payout will be at 100% of Target. Interpolation will be used for the payout on this metric.