Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 16

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 16
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 did 
 not elect to receive?                                                                                      |

| A: | If, after the Non-Election Shares have been allocated any undersubscribed consideration, there still remains                                                                                                                                             
 undersubscribed consideration, then shares of Enfusion Common Stock electing the oversubscribed form of Merger Consideration will be allocated the undersubscribed consideration pursuant to the proration and adjustment procedures. Accordingly, there 
 is no guarantee that you will receive your elected form of Merger Consideration for all of your Eligible Shares. In the event proration is necessary, electing shares will be allocated the undersubscribed consideration only after the undersubscribed 
 consideration is allocated to Non-Election Shares.                                                                                                                                                                                                       |

| Q: | How will I receive the Merger Consideration to which I am entitled? |

| A: | After receiving the proper documentation from you, following the completion of the Mergers, the Exchange Agent                                                                                                                          
 will provide to you the cash consideration and/or stock consideration to which you are entitled. More information on the documentation you are required to deliver to the Exchange Agent may be found in the section titled “The Merger 
 Agreement—Election Procedures.”                                                                                                                                                                                                         |

| Q: | What will happen to Enfusion as a result of the Transactions? |

| A: | If the Transactions are completed, Enfusion will cease to be publicly traded and Acquirer, as the surviving                                                                                                                                         
 corporation of the Second Merger, will succeed to all of Enfusion’s rights and liabilities and continue as a direct, wholly-owned subsidiary of Clearwater. However, if the Second Merger Conditions are not satisfied and the Second Merger is not 
 completed, but the Transactions are otherwise completed, Enfusion, as the surviving corporation of the Merger, will become a direct, wholly-owned subsidiary of Clearwater. In either case, Enfusion will no longer be a publicly held company and  
 Enfusion Common Stock will be delisted from the NYSE and deregistered under the Exchange Act as a result of the Transactions.                                                                                                                       |

| Q: | What are the conditions to Closing that must be satisfied to complete the Transactions and can the parties 
 waive the conditions to Closing?                                                                           |

| A: | There are a number of conditions to the Closing of the Transactions. For a summary of the conditions that must                                                                                                                      
 be satisfied or waived prior to the consummation of the Transactions, see the section titled “The Merger Agreement—Conditions to the Transactions.” The conditions to Closing can be waived by the