Company: AWK
Filing Date: 2025-12-17
Form Type: S-4
Source: 0001193125-25-321389
Chunk: 137

Company: American Water Works Company, Inc.
Filing Date: 2025-12-17
Form: S-4
Chunk 137
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 offerings of American Water and/or an
affiliate thereof, (iii) having acted or acting as a dealer for a commercial paper program of American Water and/or an affiliate thereof, (iv) having acted or acting as a bookrunner, arranger, and/or document agent for, and/or as a lender
under, certain letters of credit, credit facilities, and other credit arrangements of American Water and/or certain of its affiliates, (v) having provided or providing certain derivatives and other trading services to American Water and/or
certain of its affiliates, and (vi) having provided or providing certain treasury management products and services to American Water and/or certain of its affiliates. From October 1, 2023 through September 30, 2025, BofA Securities
and its affiliates derived aggregate revenues from American Water and certain of its affiliates of approximately $6 million for investment and corporate banking services.

In addition, BofA Securities and its affiliates in the past have provided, currently are providing, and in the future may provide, investment banking,
commercial banking and other financial services to Essential and certain of its affiliates and have received or in the future may receive compensation for the rendering of these services, including (i) having acted or acting as a manager,
bookrunner, sales agent, forward seller, forward purchaser, and/or underwriter for certain debt and equity offerings of Essential, (ii) having acted or acting as a dealer for a commercial paper program of Essential, and (iii) having acted
or acting as a bookrunner, arranger, and/or syndication agent for, and/or as a lender under, certain term loans, letters of credit, credit facilities, and other credit arrangements of Essential and/or certain of its affiliates. From October 1,
2023 through September 30, 2025, BofA Securities and its affiliates derived aggregate revenues from Essential and certain of its affiliates of approximately $3 million for investment and corporate banking services.

89

As of the date of its opinion, BofA Securities and its affiliates were working with Essential and its affiliates on one or more investment and corporate banking matters unrelated to the merger and BofA Securities believes, based on the information available to it as of the date of its opinion, that the aggregate revenues BofA Securities and its affiliates will derive from Essential and its affiliates for those concurrent investment and corporate banking services will be less than the fee payable to BofA Securities for its services in connection with the merger. In addition, in the ordinary course of