Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 141

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 141
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 non-GAAP financial measures, which would otherwise require a reconciliation of a non-GAAP
financial measure to a GAAP financial measure. Reconciliations of non-GAAP financial measures were not provided to or relied upon by the Special Committee or Clearwater, or Goldman Sachs for purposes of
performing its financial analyses in connection with rendering its opinion to the Special Committee, as described in the section of this Proxy Statement/Prospectus titled “Opinion of the Special Committee’s Financial Advisor.”
Accordingly, no reconciliation of the financial measures included in the Management Projections is provided in this Proxy Statement/Prospectus.

The Management Projections constitute forward-looking statements. By including the Management Projections in this Proxy Statement/Prospectus,
none of Enfusion, the Special Committee, the Enfusion Board, Goldman Sachs or any of Enfusion’s, the Special Committee’s, the Enfusion Board’s or Goldman Sachs’ respective representatives has made or makes any representation to
any person regarding Enfusion’s ultimate performance as compared to the information contained in the Management Projections. The inclusion of the Management Projections should not be regarded as an indication that the Special Committee, the
Enfusion Board, Enfusion, Goldman Sachs or any other recipient of the Management Projections considered, or now considers, the Management Projections to be predictive of Enfusion’s performance or actual future results. For information on
factors that may cause Enfusion’s future results to materially vary, see the section of this Proxy Statement/Prospectus captioned “Cautionary Note Regarding Forward-Looking Statements.” Further, the inclusion of the Management
Projections in this Proxy Statement/Prospectus does not constitute an admission or representation by Enfusion that the information presented is material. The Management Projections are included in this Proxy Statement/Prospectus solely to give
Enfusion Stockholders access to the information that was made available to the Special Committee, the Enfusion Board, Goldman Sachs and Clearwater. The Management Projections are not included in this Proxy Statement/Prospectus in order to influence
any Enfusion Stockholder as to how to vote at the special meeting with respect to the Mergers, or whether to seek appraisal rights with respect to their shares.

In light of the foregoing factors and the uncertainties inherent in the Management Projections, Enfusion Stockholders are cautioned not to place undue reliance on the Management Projections.

Opinion of the Special Committee’s Financial Advisor

Opinion of Goldman Sachs & Co. LLC

At a