Company: AWK
Filing Date: 2025-12-17
Form Type: S-4
Source: 0001193125-25-321389
Chunk: 67

Company: American Water Works Company, Inc.
Filing Date: 2025-12-17
Form: S-4
Chunk 67
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 achieve its anticipated results, and the combined company may be unable to successfully integrate American Water’s and Essential’s operations and/or operate in the manner expected. American Water and Essential entered into the merger agreement with the expectation that the merger will result in various benefits, including, among other things, increased efficiencies of scale and size, increased geographic diversity, greater long-term growth opportunities for employees of the combined company, and other operating efficiencies. Achieving the anticipated benefits of the merger is subject to a number of uncertainties, including whether American Water’s and Essential’s businesses can be integrated in an efficient, effective, and timely manner, or at all. The combined company could have difficulty integrating the combined assets, personnel, and operations of American Water and Essential. American Water and Essential anticipate that the integration of the two companies will ultimately be complex and expect to devote significant time and resources to this integration process. Risks and uncertainties that could impact the combined company negatively include:

| • |     | unforeseen or significant difficulties in integrating the two companies and their assets, operations, cultures, 
 and employees;                                                                                                  |

| • |     | the potential disruption of the ongoing businesses and distraction of American Water’s and 
 Essential’s management;                                                                    |

| • |     | changes in American Water’s and Essential’s business focus and/or management; |

| • |     | risks related to owning, operating, maintaining, and successfully managing Essential’s natural gas                   
 distribution business, including any increased risks and liabilities associated with the operation of that business; |

| • |     | difficulties in establishing and/or maintaining uniform standards, systems, controls, procedures, and policies,  
 including accounting and financial reporting, across the combined company, or merging or linking disparate ones; |

| • |     | the potential impairment of relationships with employees and partners as a result of any integration of new 
 management personnel;                                                                                       |

| • |     | the potential inability to manage an increased number of locations and employees; and |

| • |     | the effect of any government regulations that relate to American Water’s and Essential’s businesses,                
 including with respect to jurisdictions in which the other company’s regulated businesses currently do not operate. |

It is possible that the integration process could take longer than anticipated and could result in the loss of valuable employees, the disruption of each company’s ongoing businesses, processes and systems, or inconsistencies in standards, controls, procedures, practices, policies, and compensation arrangements, any of which could adversely affect the combined company’s ability to achieve the anticipated benefits of the merger as