Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 138

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 138
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, regulatory, market and financial conditions and other future events, as well as matters specific to Enfusion’s business, in each case as of the date it was prepared, all of which are difficult or impossible to predict accurately and many of which are beyond Enfusion’s control. The Management Projections include, among other things, the following assumptions and estimates:

| • |     | Consolidated revenue growth rates ranging from 5% to 20% between fiscal year 2025 and fiscal year 2034 reflecting 
 Enfusion’s management’s assumptions and estimates for future growth; and                                          |

| • |     | Adjusted EBITDA margins (as defined herein) ranging from 24% to 39% between fiscal year 2025 and fiscal year 2034 
 as the Company is expected to drive operating efficiencies as revenue scales.                                     |

The following table summarizes the Financial Projections:

| 10 Year Profit & Loss (Amounts in 
 millions)                         |     | Q4    
 2024E |    |     | 2025E |     |     | 2026E |     |     | 2027E |     |     | 2028E |     |     | 2029E |     |     | 2030E |     |     | 2031E |     |     | 2032E |     |     | 2033E |     |     | 2034E |     |
|:----------------------------------|:----|:------|---:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|
| Revenue                           |     | $     | 53 |     | $     | 245 |     | $     | 303 |     | $     | 376 |     | $     | 461 |     | $     | 555 |     | $     | 652 |     | $     | 746 |     | $     | 831 |     | $     | 901 |     | $     | 950 |
| Adjusted EBITDA(1)                |     | $     |