Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 194

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 194
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Effective Time, multiplied by (ii) the Exchange Ratio.

Treatment of Performance Stock Units

Each Enfusion PSU that is outstanding as of immediately prior to the Effective Time and vests as a result of the consummation of the
Transactions will be cancelled and converted at the Effective Time into the right of the holder to receive the Per Share Mixed Consideration in respect of each share of Enfusion Common Stock subject

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to such vested Enfusion PSU (with the applicable performance conditions deemed achieved or not achieved based on the terms of the applicable award agreement), less applicable tax withholding. Each Enfusion PSU that does not vest at the Effective Time will be cancelled as of the Effective Time for no consideration. Treatment of Employee Stock Purchase Plan As soon as reasonably practicable after the date of the Merger Agreement, Enfusion will take all actions necessary or required under the ESPP to provide that (a) no new offering or purchase period under the Enfusion ESPP will commence after the date of the Merger Agreement, (b) no new participants will be permitted into the Enfusion ESPP after the date of the Merger Agreement, (c) the existing participants in the Enfusion ESPP may not increase their elections with respect to the offering or purchase periods in effect on the date of the Merger Agreement, (d) the exercise date for any offering or purchase period in effect as of the date of the Merger Agreement will be the earlier of the original exercise date for such offering and the Final Exercise Date, (e) each participant’s accumulated contributions under the Enfusion ESPP will be used to purchase shares of Enfusion Common Stock in accordance with the terms of the Enfusion ESPP as of the Final Exercise Date, and (f) the Enfusion ESPP will terminate on the date immediately prior to the date on which the Effective Time occurs. Representations and Warranties The Merger Agreement contains representations and warranties of Enfusion and the Buyer Parties. In the Merger Agreement, Enfusion made customary representations and warranties to the Buyer Parties that are subject, in some cases, to specified exceptions and qualifications contained in the Merger Agreement. These representations and warranties relate to, among other things:

| • |     | due organization, valid existence, good standing and authority and qualification to conduct business with respect 
 to Enfusion and its subsidiaries;                                                                                 |

| • |     | Enfusion’s and Enfusion OpCo’s requisite corporate power and authority to enter into and perform the 
 Merger Agreement and the enforceability of the Mer