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Term Definition
Annual Exceedance Probability (AEP)

The chance of a flood of a given or larger size occurring in any one year, usually expressed as a percentage. Eg, if a peak flood discharge of 500 m3/s has an AEP of 5%, it means that there is a 5% chance (that is one-in-20 chance) of a 500 m3/s or larger events occurring in any one year (see ARI).

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