Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 56

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 56
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 with each of the businesses of
American Water and Essential because these risks will relate to the combined company following the completion of the merger. Descriptions of some of these risks can be found in the respective Annual Reports on Form
10-K of American Water and Essential for the fiscal year ended December 31, 2024, as such risks may be updated or supplemented in each company’s subsequently filed Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, which are incorporated by reference into this joint proxy statement/prospectus. You should also
consider the other information in this joint proxy statement/prospectus and the other documents incorporated by reference into this joint proxy statement/prospectus. See “Where You Can Find More Information” beginning on page 183.

If any of the risks described below or incorporated by reference herein actually occur, the business, financial condition, and results of operations
of American Water, Essential, and/or the combined company, as applicable, could be materially and adversely affected and the trading price of the applicable common stock could decline. Some of these risks and uncertainties may have occurred in the
past, and the disclosures below and incorporated herein by reference are not representations or warranties as to whether or not any risks or uncertainties have occurred in the past, but are discussed because future occurrences of such risks and
uncertainties could have a material adverse effect on American Water’s, Essential’s, and/or the combined company’s business, financial condition and results of operations, as applicable.

Risks Related to the Merger

The merger is subject to various closing conditions, including the receipt of consents and approvals from various governmental and regulatory entities, and a failure to obtain all such consents or approvals or to satisfy such other closing conditions could prevent or delay the completion of the merger or impose conditions that could have a material adverse effect on either or both parties or the combined company.

American Water and Essential anticipate that, subject to the receipt of all required regulatory and other consents and approvals and the satisfaction or waiver
of all other closing conditions, the merger will be completed in the first quarter of 2027. Among other closing conditions, completion of the merger is conditioned upon the receipt of such required consents, orders, and approvals from various
governmental and regulatory entities, including the applicable PSCs in certain states in which either or both companies operate, including, without limitation, the Pennsylvania Public Utility Commission. The merger is also subject to review under
the HSR Act and the expiration or earlier termination of the