Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 189

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 189
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 matters; |

| • |     | intellectual property, information technology, and data protection; |

| • |     | real property; |

| • |     | material contracts; |

| • |     | opinion of financial advisor; and |

| • |     | finder or broker fees and commission. |

Essential has made additional representations and warranties to American Water in the merger agreement with respect to anti-takeover laws and shareholders’ rights plans. American Water has made additional representations and warranties to Essential in the merger agreement with respect to Merger Sub. The representations and warranties of each of the parties to the merger agreement will not survive the completion of the merger. Material Adverse Effect For purposes of the merger agreement, material adverse effect, when used in reference to American Water or Essential, means any fact, circumstance, effect, change, condition, occurrence, event, or development that has, individually or in the aggregate with all other changes, a material adverse effect on the business, condition (financial or otherwise), properties, results of operations, liabilities, assets, or operations of American Water and its subsidiaries or Essential and its subsidiaries, as applicable, taken as a whole, or on the ability of American Water or Essential, as applicable, to consummate the transactions contemplated by the merger agreement (including the merger and, in the case of American Water, the share issuance), but will not include any fact, circumstance, effect, change, condition, occurrence, event, or development resulting from or arising out of:

| • |     | changes (i) generally affecting the economy, legislative or political conditions, (ii) generally                                                                                        
 affecting any financial, securities, commodities or other capital markets, or (iii) in prevailing interest rates, in each case, whether in the United States or elsewhere in the world; |

| • |     | changes generally affecting the industry or industries in which American Water and its subsidiaries or Essential 
 and its subsidiaries, as applicable, operate;                                                                    |

125

| • |     | the execution and delivery of the merger agreement or the public announcement, pendency or performance of the                                                                                                                                    
 merger or any of the other transactions contemplated by the merger agreement, including (i) any action taken by American Water or its subsidiaries or Essential or its subsidiaries, as applicable, that is expressly required pursuant to the   
 merger agreement, or the failure to take any action specifically prohibited by the merger agreement (in each case, excluding any such actions required to be taken or not taken pursuant to the interim operating covenants summarized below