Company: AWK
Filing Date: 2025-10-27
Form Type: 425
Source: 0001193125-25-250649
Chunk: 55

Company: American Water Works Company, Inc.
Filing Date: 2025-10-27
Form: 425
Chunk 55
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 which it or any of its properties or assets is bound, except for violations or
defaults that would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect.

Section 3.22 . The Company Board has received the oral opinion of Moelis & Company LLC, which
opinion will be subsequently confirmed in writing, to the effect that, as of the date of such opinion and based upon and subject to the assumptions made, procedures followed, matters considered and qualifications and limitations set forth therein,
the Exchange Ratio is fair from a financial point of view to the holders of shares of Company Common Stock, and such opinion has not been withdrawn, revoked or modified. The Company shall, promptly following receipt of such opinion in written form,
furnish an accurate and complete copy of such opinion to Parent solely for informational purposes and on a non-reliance basis.

Section 3.23 . Except for Moelis & Company LLC (the fees and expenses of which will, prior to the
Closing, be the responsibility of the Company), neither the Company nor any Company Subsidiary has employed any investment banker, broker or finder in connection with the Transactions who might be entitled to any fee or any commission in connection
with or upon consummation of the Merger or the Transactions.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB

Except (a) as disclosed in the Parent SEC Documents publicly available and filed with or furnished to the SEC prior to the date of this
Agreement (excluding any disclosures in any risk factors section, in any section related to forward-looking statements and any other disclosures or statements that are predictive or forward-looking in nature) where it is reasonably apparent on its
face that such disclosure is applicable to any representation or warranty or (b) subject to , as set forth in the corresponding section of the disclosure schedule delivered by Parent to the Company
concurrently with the execution and delivery by Parent of this Agreement (the “”), Parent (on behalf of itself and Merger Sub) represents and warrants to the Company as follows:

Section 4.1 .

(a) Parent is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.

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(b) Each Parent Subsidiary, including Merger Sub, is a legal entity duly organized, validly
existing and in good standing under the Laws of its respective jurisdiction of organization (in the case of good standing, to the extent such jurisdiction