Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 329

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 329
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 or are authorized to act on behalf of the
Company or any of its Subsidiaries who are entitled to any banking, broker’s, finder’s or similar fee or commission in connection with the Mergers and the other transactions contemplated by this Agreement.

Section 4.25 Opinion of Financial Advisor. The Special Committee has received the oral opinion of Goldman Sachs &
Co. LLC to be subsequently confirmed by delivery of a written opinion, that, as of the date of such written opinion, and based upon and subject to the various limitations, qualifications, assumptions and other matters set forth in such written
opinion, the aggregate Merger Consideration to be paid to the holders (other than Parent and its affiliates) of shares of Class A Common Stock pursuant to this Agreement is fair from a financial point of view to such holders. A written copy of
each such opinion will be provided to Parent by the Company promptly following receipt by the Company for informational purposes only.

Section 4.26 Anti-Takeover Provisions. Assuming the accuracy of the representations and warranties of Parent, Acquirer,
Merger Sub and Merger Sub II in , no (a) “business combination”, “control share acquisition”, “fair price”, “moratorium” or other anti-takeover Laws (each, a
“Takeover Law”) or (b) anti-takeover provision in the organizational documents of the Company or any of its Subsidiaries applies or will apply with respect to this Agreement or the transactions contemplated hereby, including
the Mergers. The Company is not party to a stockholder rights agreement, “poison pill” or similar anti-takeover agreement.

Section 4.27 Stock Ownership. None of the Company or any of its Subsidiaries owns any shares of capital stock of Parent.
None of the Company or its Subsidiaries is an “interested stockholder” of Parent subject to the restrictions on “business combinations” under Section 203(a) of the DGCL (as such terms are defined in Section 203(c) of
the DGCL).

ARTICLE V

REPRESENTATIONS AND WARRANTIES OF PARENT, ACQUIRER, MERGER SUB AND MERGER SUB II

Except (a) as disclosed in the Parent SEC Documents furnished or filed and publicly available since January 1, 2022 through the date
hereof (other than information that is contained (i) solely in the risk factors sections of such Parent SEC Documents, except to the extent such information consists of