Company: AWK
Filing Date: 2025-10-27
Form Type: 425
Source: 0001193125-25-250649
Chunk: 192

Company: American Water Works Company, Inc.
Filing Date: 2025-10-27
Form: 425
Chunk 192
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 TION Note: Does not include Military Services Group (“MSG”). 1. Includes Net Utility Plant not yet included in rate base, pending rate case filings/outcomes. 2. Includes ~1.1M water & wastewater connections and ~0.8M gas connections as of 12/31/2024. 6 3. Includes $7.3B water & wastewater rate base and $4.2B gas rate base. 4. Includes ~14,500 miles for water & wastewater, and ~15,000 miles for gas.

Combining Two Complementary Platforms to Expand Market Reach and Unlock Efficiencies, Best Practices Together, the businesses will continue to set the best-in-class standards for water quality, customer experience, and infrastructure replacement and renewal Best-in-Class Water Premier Partner-of-Choice Water Creating a New Top 10 Large- Reinforce Commitment to Quality Provider Utility for Municipal Providers Cap Pure-Play Utility Customers and Communities • Cements nationwide leadership in • Combined equity market cap of • Solidifies position as a compelling • Customer-focused company 1 water quality best practices, $40B ranks among the top option for communities when culture, with eye towards including PFAS and lead 250 in the S&P500 considering a sale technology-driven improvements remediation, for the benefit of • Superior TSR potential driven by • Exciting new geographies with • Merges two companies that customers top-quartile EPS growth, robust clear paths to organic and each have a legacy of • Scale advantage to address large- dividend trajectory, long-term business development growth volunteerism and generous scale surface water quality visible CapEx requirements, support of communities, which challenges and broad regionalization • Improves long-term customer will remain central to the opportunities in a fragmented growth trajectory and long-term • Delivering innovative, targeted combined organization water industry customer affordability proposition solutions to address groundwater • Deep industry depth in resiliency quality challenges • Water and wastewater focused, planning to uphold reliability of fully regulated utility • Leveraging best practices across customer service industry-leading water quality R&D • Unique value proposition in labs and talent to drive terms of customer affordability sustainable service and sustainability credentials enhancements for customers 1. Represents combined equity market capitalization as of 10/24/2025. 7

Compelling Long-Term Growth Outlook in Premier Asset Class AMERICAN WATER + ESSENTIAL Other Long-Term Targets and 7% - 9% AMERICAN WATER Drivers of Sustainable Long-Term EPS CAGR Target Shareholder Returns 7% -