Company: AWK
Filing Date: 2025-10-27
Form Type: 425
Source: 0001193125-25-250649
Chunk: 18

Company: American Water Works Company, Inc.
Filing Date: 2025-10-27
Form: 425
Chunk 18
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 during the period between the
date of this Agreement and the Effective Time the outstanding shares of capital stock of the Company or Parent shall have been changed into a different number of shares or a different class by reason of any reclassification, recapitalization, stock
split (including a reverse stock split) or combination, exchange or readjustment of shares, or any stock dividend or stock distribution with a record date during such period, or any other similar event, other than pursuant to the Transactions, then
the Exchange Ratio, the Merger Consideration and any other similarly dependent items shall be appropriately adjusted to provide to the holders of Company Common Stock and Parent Common Stock the same economic effect as contemplated by this Agreement
prior to such action; that nothing in this shall be construed to permit any Party to take any action that is otherwise prohibited or restricted by any other provision of this Agreement.

Section 2.2 .

(a) . Prior to the Effective Time, Parent shall enter into an exchange agreement with the transfer agent of Parent or
such other exchange agent determined by Parent and reasonably acceptable to the Company (the “”) for the purpose of exchanging shares of Company Common Stock for the Merger Consideration. At or prior to the Effective
Time, Parent shall deposit, or shall cause to be deposited, with the Exchange Agent, in trust for the benefit of holders of the shares of Company Common Stock, certificates representing the shares of Parent Common Stock issuable pursuant to
(or appropriate alternative arrangements shall be made by Parent if the shares of Parent Common Stock issuable will be uncertificated). Following the Effective Time, Parent agrees to make available to the
Exchange Agent, from time to time as needed, cash sufficient to pay any dividends and other distributions pursuant to . All certificates representing shares of Parent Common Stock (including the amount of any
dividends or other distributions payable with respect thereto pursuant to and cash in lieu of fractional shares of Parent Common Stock to be paid pursuant to ) are
hereinafter referred to as the “.”

(b) . As soon as reasonably practicable
after the Effective Time and in any event not later than the fourth (4th) Business Day following the Effective Time, Parent shall cause the Exchange Agent to send to each holder of record of shares of Company Common Stock represented by certificates
as of the Effective Time (i) a letter of transmittal (which shall specify that delivery shall be effected, and that risk of loss and title to the shares of Company Common Stock shall pass, only upon delivery of the