Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 51

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 51
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 is listed on the NYSE under the symbol “WTRG.”

|                  |     | American Water 
 Common         
 Stock          |        |   |     | Essential 
 Common    
 Stock     |       |   |     | Implied Per   
 Share Value   
 of Merger     
 Consideration |       |   |
|:-----------------|:----|:---------------|-------:|:--|:----|:----------|------:|:--|:----|:--------------|------:|:--|
| October 24, 2025 |     | $              | 141.59 |   |     | $         | 41.21 |   |     | $             | 43.18 |   |
| [ ], 202[ ]      |     | $              |      [ | ] |     | $         |     [ | ] |     | $             |     [ | ] |

The market prices of shares of American Water common stock and Essential common stock have fluctuated during the period between the date the merger agreement was executed and the date of this joint proxy statement/prospectus and may continue to change through the date of each of American Water’s and Essential’s

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shareholder meetings and the date the merger is completed. American Water will issue a fixed number of shares of American Water common stock in exchange for each share of Essential common stock.
As a result, the implied per share value of the merger consideration to be received by Essential shareholders will fluctuate based on any changes in the market price of American Water common stock prior to the completion of the merger. Accordingly,
such implied per share value of the merger consideration to be received by Essential shareholders upon completion of the merger could be greater than, less than, or the same as the implied per share value of the merger consideration on the date of
this joint proxy statement/prospectus. American Water and Essential urge you to obtain current market quotations for the shares of American Water common stock and Essential common stock. For more information, please see “Where You Can Find More Information” beginning on page 183.

Dividend Information

American Water currently pays a quarterly dividend on shares of American Water common stock. American Water last paid a quarterly dividend of $0.8275 per share
of American Water common stock on December 2, 2025. The terms of the merger agreement limit American Water’s ability to declare or pay dividends prior to the completion of the merger, subject to certain exceptions, including the
declaration