Company: AWK
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001193125-25-332292
Chunk: 15

Company: American Water Works Company, Inc.
Filing Date: 2025-12-29
Form: S-4/A
Chunk 15
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 can be completed. For a description of all of the conditions to the merger, see “The Merger Agreement—Conditions to the Completion of the Merger” beginning                              
 on page 140.                                                                                                                                                                                                                                           |

5

For American Water Shareholders

| Q: | When and where is the American Water special meeting? |

| Q: | What matters will be voted on at the American Water special meeting? |

| A: | American Water shareholders will be asked to consider and vote on the following proposals: (i) the share 
 issuance proposal and (ii) the American Water adjournment proposal.                                      |

| Q: | Who is entitled to vote at the American Water special meeting? |

| Q: | How does the American Water board recommend that I vote on the proposals? |

| A: | By unanimous vote of all directors then present, the American Water board has authorized, adopted, and approved                                                                                                                                        
 the merger agreement and the transactions contemplated by the merger agreement, including the merger and the share issuance, and determined that the merger agreement and such contemplated transactions, including the merger and the share issuance, 
 are advisable, fair to, and in the best interests of American Water and its shareholders, and the American Water board unanimously recommends that American Water shareholders vote “FOR” the share issuance proposal and                              
 “FOR” the American Water adjournment proposal. For a discussion of the factors considered by the American Water board in reaching its decision, see “The Merger—American Water Board’s Recommendations and Its                                         
 Reasons for the Merger” beginning on page 67.                                                                                                                                                                                                          |

| Q: | What will happen to my shares of American Water common stock in the merger? |

| A: | Nothing. You will continue to own the same shares of American Water common stock that you owned prior to the                                                                     
 effective time. As a result of the share issuance, however, the overall ownership percentage of the current American Water shareholders in the combined company will be diluted. |

Immediately following the completion of the merger, continuing American Water shareholders will own approximately [ ]% of the then outstanding American Water common stock and former Essential shareholders will own approximately [ ]% of the then outstanding American Water common stock, in each case based on the number of shares of common stock and stock-based awards of American Water and Essential outstanding as of [ ], 202[ ], the last practicable trading day before the date of this joint proxy statement/prospectus.

| Q: | Do the American Water directors and executive officers have any interests in