Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 238

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 238
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 operating expenses based on the nature of the 
 intangible assets acquired.                                                                                                                                                                                                                               |

159

| The adjustment for the amortization of the identifiable intangible assets is as follows: |

|                                                                                               |     | For the Year ended 
 December 31, 2024  |        |   |     |     |        |
|:----------------------------------------------------------------------------------------------|:----|:-------------------|-------:|:--|:----|:----|-------:|
| (in thousands)                                                                                |     | COR                |        |   |     | S&M |        |
| Reversal of Enfusion’s historical amortization expense relating to software development costs |     |                    | (5,200 | ) |     |     |      — |
| Amortization of purchased identifiable intangible assets                                      |     |                    |        |   |     |     |        |
| Technology                                                                                    |     |                    | 51,277 |   |     |     |      — |
| Customer relationships                                                                        |     |                    |      — |   |     |     | 13,460 |
| Trade name                                                                                    |     |                    |      — |   |     |     |  7,478 |
| Change in amortization expenses                                                               |     |                    | 46,077 |   |     |     | 20,938 |

| Amortization is based on the periods over which the economic benefits of the intangible assets are expected to 
 be realized, which are subject to adjustment as additional information becomes available.                      |

| b. | Represents Clearwater’s estimated legal expenses to be incurred related to the Transactions that are not 
 reflected in the historical financials. This is a non-recurring item.                                    |

| c. | Reflects the tax effect of all pro forma adjustments. |

| d. | Represents the pro forma basic and diluted net earnings per share attributable to per share of Clearwater                                                                                                                                                
 Common Stock and Clearwater Class D Common Stock (as defined below) calculated using the historical basic weighted average shares of Clearwater Common Stock and Clearwater Class D Common Stock outstanding, adjusted for additional shares of          
 Clearwater Common Stock to be issued to holders of Enfusion Common Stock and holders of Enfusion equity awards upon completion of the Transactions. All potentially dilutive awards were excluded from the computation of pro forma diluted net earnings 
 per share due to their antidilutive effect.                                                                                                                                                                                                              |

| The following tables set forth the computation of basic and diluted earnings per share of Clearwater