Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 159

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 159
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 dissenters’ rights; |

| • |     | holders who, immediately before the Transactions directly, indirectly or constructively owned at least 5% of all 
 Enfusion Common Stock (by vote or value);                                                                        |

| • |     | holders who hold their Enfusion Common Stock as “qualified small business stock” for purposes Sections 
 1045 or 1202 of the Code;                                                                              |

| • |     | holders who received their Enfusion Common Stock through the exercise of options or otherwise as compensation or 
 through a tax-qualified retirement plan; and                                                                     |

| • |     | holders who own Enfusion Common Stock, or, after the Merger, Clearwater Common Stock, as part of a straddle, 
 synthetic security, wash sale, hedge, conversion transaction or other integrated investment.                 |

Enfusion Stockholders that are subject to special provisions under the Code, including such persons described immediately above, should consult their tax advisors regarding the tax consequences of the Corporate Mergers and the ownership and disposition of any Clearwater Common Stock received in the Merger. As used in this discussion, a “U.S. Holder” means a beneficial owner of Enfusion Common Stock or, as a result of the Merger, Clearwater Common Stock, who is for U.S. federal income tax purposes:

| • |     | a citizen or resident of the United States; |

| • |     | a corporation or other entity taxable as a corporation created or organized in or under the laws of the United 
 States or any state thereof or the District of Columbia;                                                       |

| • |     | a trust that (i) is subject to the primary jurisdiction of a court within the United States and the control                                                                                   
 of one or more U.S. persons with respect to all of its substantial decisions, or (ii) has a valid election in effect under applicable Treasury Regulations to be treated as a U.S. person; or |

| • |     | an estate that is subject to U.S. federal income tax on its income, regardless of source. |

As used in this discussion, a “Non-U.S.Holder” means a beneficial owner of Enfusion Common Stock or, as a result of the Merger, Clearwater Common Stock, who is neither a U.S. Holder nor an entity or arrangement that is treated as a partnership for U.S. federal income tax purposes. If a partnership, including for this purpose any entity or arrangement that is treated as a partnership for U.S. federal income tax purposes