Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 45

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 45
---
 of the 
 closing date of the merger, certifying to the effect that certain closing conditions have been satisfied; and  |

| • |     | the receipt of the required state regulatory approvals and the occurrence of the HSR clearance, in each case,                                                                                          
 (i) that have become final orders (as defined below) and (ii) without the imposition of terms or conditions that, individually or in the aggregate, constitute a burdensome effect (as defined below). |

For more information regarding the conditions to the completion of the merger and a complete list of such conditions, see “ The Merger Agreement—Conditions to the Completion of the Merger” beginning on page 140. No Solicitation As more fully described in this joint proxy statement/prospectus and in the merger agreement, each of American Water and Essential has agreed that it will not, and will cause its subsidiaries not to, and will use reasonable best efforts to cause its and their respective representatives not to, directly or indirectly:

| • |     | solicit, initiate, or knowingly encourage (including by way of furnishing nonpublic information) or knowingly                                                        
 facilitate any competing proposal or any inquiry regarding, or the making of, a proposal that is or would reasonably be expected to lead to a competing proposal; or |

| • |     | participate in any discussions or negotiations with any person (other than the other party or any of their                                                                                                                                               
 respective affiliates or representatives) regarding, or furnish to any such person, any nonpublic information with respect to, or knowingly cooperate in any way with any such person with respect to, any competing proposal or any inquiry or proposal 
 that would reasonably be expected to lead to a competing proposal.                                                                                                                                                                                       |

Prior to obtaining shareholder approval of the share issuance proposal, in the case of American Water, or prior to obtaining shareholder approval of the merger agreement proposal, in the case of Essential, if American Water or Essential receives a bona fide written competing proposal that does not result from a material breach of such party’s non-solicitationobligations under the merger agreement and that its board of directors determines in good faith (after consultation with outside legal counsel and a financial advisor) constitutes, or would reasonably be expected to lead to, a superior proposal, such party and its representatives may:

| • |     | furnish nonpublic information to the third party making such competing proposal (provided that all such 
 information has previously been provided to or is provided or made available to Essential or            |

27

| • |     | participate in discussions