Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 73

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 73
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 American Water’s announced dividend growth strategy. However, there is no assurance that American Water’s shareholders will continue to receive payments of such dividends while the merger is pending, or that American Water’s and Essential’s shareholders will continue to receive payments of dividends following completion of the merger, for a number of reasons that include, for example:

| • |     | a lack of cash to pay such dividends, due to changes in cash requirements, capital spending plans, financing 
 agreements, cash flow or financial position;                                                                 |

| • |     | the board of directors may decide not to declare and pay quarterly dividends in accordance with historical 
 practice or American Water’s stated dividend strategy and policy, or at all;                               |

| • |     | the amount of quarterly dividends that may be paid to shareholders is subject to restriction under Delaware law                        
 and the combined company’s financing arrangements as well as compliance with American Water’s stated dividend strategy and policy; and |

| • |     | upstream dividend payments from subsidiaries may not be received in the same amount that such subsidiaries have                                                                          
 historically paid, and the ability of such subsidiaries to pay such dividends is subject to various risks and uncertainties described in each company’s respective filings with the SEC. |

45

Risks Related to American Water’s and Essential’s Businesses

American Water’s and Essential’s businesses are and will be subject to the risks described above. In addition, American Water and Essential are,
and will continue to be, subject to the risks described in American Water’s and Essential’s respective Annual Reports on Form 10-K for the fiscal year ended December 31, 2024, as updated by
each of their respective subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all of which are filed with the SEC and incorporated by reference
into this joint proxy statement/prospectus as set forth in “Where You Can Find More Information” beginning on page 183.

46

INFORMATION ABOUT THE PARTIES TO THE MERGER

American Water

American Water
is the largest and most geographically diverse, publicly traded water and wastewater utility company in the United States, as measured by both operating revenues and population served. As a holding company, American Water conducts substantially all
of its business through its subsidiaries. American Water employs approximately 6,700 professionals who provide drinking water, wastewater, and other related services to over 14 million people in 24 states. American Water conducts the majority
of its business through one reportable segment that is commonly referred to as the Regulated