Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 175

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 175
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 |     | U.S. expatriates, former citizens, or long-term residents of the United States; |

114

| • |     | persons who acquired their shares of Essential common stock pursuant to the exercise of employee stock options or 
 otherwise as compensation;                                                                                        |

| • |     | banks, insurance companies, and other financial institutions; |

| • |     | regulated investment companies or mutual funds; |

| • |     | real estate investment trusts or real estate mortgage investment conduits; |

| • |     | dealers or brokers in securities, commodities, or foreign currencies; |

| • |     | traders who elect to apply a         
 mark-to-market method of accounting; |

| • |     | persons who have a functional currency other than the U.S. dollar; |

| • |     | persons who hold their shares of Essential common stock as part of a straddle, hedge, conversion, constructive                        
 sale, synthetic security, wash sale, integrated investment, or other risk-reduction transaction for U.S. federal income tax purposes; |

| • |     | persons who hold their shares of Essential common stock in individual retirement accounts and other tax-deferred accounts; |

| • |     | persons required to accelerate the recognition of any item of gross income with respect to their shares of   
 Essential common stock as a result of such income being recognized on an applicable financial statement; and |

| • |     | persons who actually or constructively own 5% or more of Essential common stock by vote or value or will own 5% 
 or more of American Water common stock by vote or value immediately following the merger.                       |

This discussion does not address any alternative minimum tax, the Medicare contribution tax or any U.S. federal estate, gift, or other non-incometax consequences or any state, local, or non-U.S.tax consequences. For purposes of this discussion, a U.S. holder is a beneficial owner of shares of Essential common stock that is, for U.S. federal income tax purposes:

| • |     | a citizen or an individual resident of the United States; |

| • |     | a corporation, or other entity treated as a corporation for U.S. federal tax purposes, organized in or under the 
 laws of the United States, any state thereof or the District of Columbia;                                        |

| • |     | an estate the income of which is subject to U.S. federal income taxation regardless of its source; or |

| • |     | a trust, if (