Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 158

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 158
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 discussion does not take into account the individual facts and circumstances of any particular Enfusion Stockholder that may affect the U.S. federal income tax consequences to such person, including specific tax consequences under an applicable tax treaty or as a result of receiving any particular mix of Clearwater Common Stock and cash Merger Consideration, and is not intended to be, and should not be construed as, legal or tax advice with respect to any such person. In addition, this discussion does not address any U.S. state or local or any non-U.S.tax considerations, any U.S. federal estate, gift, generation skipping or alternative minimum tax considerations, the 3.8% Medicare tax on net investment income, or any U.S. federal tax consequences other than U.S. federal income (including withholding) tax consequences of the Corporate Mergers and the ownership and disposition of any Clearwater Common Stock received by a U.S. Holder in the Merger. In addition, this discussion does not address any consequences of the TRA Amendment, the LLC Merger or to holders of Enfusion Common Units (including holders of both Enfusion Common Units and Enfusion Common Stock). This discussion assumes that Enfusion Stockholders hold Enfusion Common Stock, and after the Effective Time, any Clearwater Common Stock received in the Merger, as capital assets under Section 1221 of the Code (generally, property held for investment). This discussion does not address the consequences to Enfusion Stockholders subject to special tax rules, such as:

| • |     | banks, thrifts, mutual funds, financial institutions, underwriters or insurance companies; |

101

| • |     | real estate investment trusts and regulated investment companies; |

| • |     | tax-exempt organizations, qualified retirement plans, individual 
 retirement accounts or other tax-deferred accounts;              |

| • |     | U.S. expatriates and former citizens or residents of the U.S.; |

| • |     | entities or arrangements that are treated as partnerships for U.S. federal income tax purposes and investors in 
 such entities;                                                                                                  |

| • |     | dealers in securities, commodities or currencies; |

| • |     | traders in securities that elect to apply a     
 mark-to-market method of income tax accounting; |

| • |     | grantor trusts; |

| • |     | S corporations; |

| • |     | holders whose “functional currency” is not the U.S. dollar; |

| • |     | holders who exercise