Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 151

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 151
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 by Goldman Sachs in connection with the fairness opinion and is qualified in its
entirety by reference to the written opinion of Goldman Sachs attached as Annex D.

Goldman Sachs and its affiliates are engaged in
advisory, underwriting, lending and financing, principal investing, sales and trading, research, investment management and other financial and non-financial activities and services for various persons and
entities. Goldman Sachs and its affiliates and employees, and funds or other entities they manage or in which they invest or have other economic interests or with which they co-invest, may at any time
purchase, sell, hold or vote long or short positions and investments in securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments of Enfusion, Clearwater, any of their respective affiliates and
third parties, including FTV and ICONIQ, each of which is a significant shareholder, or an affiliate of a significant shareholder, of Enfusion, and Permira Advisers LLC (“”), Warburg Pincus LLC (“”)
and Welsh, Carson, Anderson & Stowe (“”), each of which is a significant shareholder, or an affiliate of a significant shareholder, of Clearwater, and any of their respective affiliates and, as applicable, portfolio
companies or any currency or commodity that may be involved in the transactions contemplated by the Merger Agreement. Goldman Sachs acted as financial advisor to the Special Committee in connection with, and participated in certain of the
negotiations leading to, the transactions contemplated by the agreement. During the two-year period ended January 10, 2025, Goldman Sachs Investment Banking has not been engaged by Enfusion or its
affiliates to provide financial advisory or underwriting services for which Goldman Sachs has recognized compensation. Goldman Sachs also has provided certain financial advisory and/or underwriting services to Clearwater and/or its affiliates from
time to time for which Goldman Sachs Investment Banking has received, and may receive, compensation, including having acted as bookrunner with respect to the underwritten secondary public offering of Clearwater Common Stock in June 2023; and as
bookrunner with respect to the underwritten secondary public offering of Clearwater Common Stock in March 2023. During the two-year period ended January 10, 2025, Goldman Sachs has recognized
compensation for financial advisory and/or underwriting services provided by Goldman Sachs Investment Banking to Clearwater and/or its affiliates of approximately $1.5 million. Goldman Sachs has also provided certain financial advisory and/or
underwriting services to