Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 44

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 44
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 shall not entitle the owner thereof to vote or to any other rights of a stockholder of Parent. In lieu of the issuance of any such fractional share, Parent shall pay to each former
stockholder of the Company and former unitholder of the Operating Company who otherwise would be entitled to receive a fractional share of Parent Class A Common Stock an amount in cash (without interest) determined by multiplying (i) the
fraction of a share of Parent Class A Common Stock which such holder would otherwise be entitled to receive (taking into account all shares of Class A Common Stock or Common Units held at the Effective Time by such holder and rounded to
the nearest thousandth when expressed in decimal form) pursuant to by (ii) the Final Parent Stock Price.

(j) At the Second Effective Time (if the Second Effective Time shall occur in accordance with the terms and conditions of this Agreement), (i)
each share of common stock of the Surviving Corporation issued and outstanding immediately prior to the Second Effective Time shall automatically be converted into and become one fully paid, nonassessable share of common stock of the Second
Surviving Corporation with the same rights, powers and privileges as the shares so converted and shall constitute the only outstanding shares of capital stock of the Second Surviving Corporation and (ii) each share of Common Stock of Acquirer
issued and outstanding immediately prior to the Second Effective Time shall automatically be canceled and shall cease to exist and no consideration shall be delivered in exchange therefor.

Section 2.04 Election Procedures; Allocation of Merger Consideration.

(a) Parent shall prepare and direct the Exchange Agent to mail a form of election, which form shall be subject to the reasonable approval of
the Company (the “Election Form”), with the Joint Proxy Statement/Prospectus to the record holders of Class A Common Stock (including any Vested Company RSUs) and Common Units as of the record date for the Stockholders Meeting,
which Election Form shall be used by each record holder of shares of Class A Common Stock (including any Vested Company RSUs) and Common Units who wishes to make an Election.

29

(b) Parent shall make available as promptly as reasonably practicable one or more Election
Forms as may be reasonably requested from time to time by all Persons who become holders or beneficial owners of Class A Common Stock (including any Vested Company RSUs) or Common Units before the Election Deadline, and the Company shall use
reasonable best efforts to provide the Exchange Agent with all information reasonably necessary for it to perform its