Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 180

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 180
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 the Public Utilities Commission of Ohio, the Public Utility Commission of Texas, and the Virginia State
Corporation Commission. Essential and American Water expect to obtain, prior to the closing of the merger, a state regulatory approval from each of the applicable PSCs that require such approval. At this time, it is expected that a required state
regulatory approval will be required from, and American Water and Essential have made filings with or provided notices to, the following applicable PSCs: the Illinois Commerce Commission, the Kentucky Public Service Commission, the New Jersey Board
of Public Utilities, the North Carolina Utilities Commission, the Pennsylvania Public Utility Commission, the Public Utility Commission of Texas, and the Virginia State Corporation Commission.

Each of the applicable PSCs reviewing the merger will utilize standards established by the respective state’s laws and regulations. The standards
applied by each applicable PSC may differ. For example, American Water and Essential expect that some will evaluate the merger under a “net benefits” standard, which may require a demonstration that the transactions contemplated by the
merger agreement will overall provide a positive benefit to the public, while others will apply a “no harm” standard, which may require a showing that the transaction will not adversely affect the public interest. In addition, certain of
the applicable PSCs requiring approval may require that a hearing be conducted as part of their review process.

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There can be no assurance that the required state regulatory approvals will be obtained or that such
approvals will be obtained in a timely manner. Furthermore, there can be no assurance that any of the applicable PSCs will not impose conditions on their approvals that could have a burdensome effect on either American Water or Essential.

In addition to the approvals and notices described above, the merger may be subject to notification or review by state public utility commissions of other
states. It is possible that one or more state public utility commissions may open proceedings to determine whether they have jurisdiction to review or approve the merger. American Water and Essential will be responsible for, and American Water will
lead in, scheduling and conducting any meeting, and coordinating, preparing, and making any filings to obtain any other approvals from any state public utility commission necessary, proper, or advisable to complete the merger. If any such commission
asserts jurisdiction, there can be no assurance that the relevant governmental entity will approve the merger or that it will not impose conditions on its approval that could have a burdensome effect on either American Water or Essential.

Federal Communications Commission

Under the provisions of