Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 169

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 169
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 Merger, any cash Merger Consideration (including cash in lieu of a fractional share of Clearwater Common Stock) received by such holder could be treated as being received as a distribution under the tests set
forth in Section 302 of the Code (including as a result of the application of Section 304 of the Code). In such a case, such holder may have dividend income up to the amount of cash received by it in the Merger, depending on the current or
accumulated “earnings and profits” of Clearwater or Enfusion, as applicable. Because the possibility of dividend treatment depends primarily upon each holder’s particular circumstances, including the application of certain
constructive ownership rules, all holders of Enfusion Common Stock should consult their tax advisors regarding the application of the foregoing rules to them in their particular circumstances.

U.S. federal income tax consequences to U.S. Holders of holding Clearwater Common Stock

Dividends and other distributions on Clearwater Common Stock

For U.S. federal income tax purposes, distributions of cash by Clearwater to a U.S. Holder with respect to shares of Clearwater Common Stock
received in the Merger will generally be included in such U.S. Holder’s

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income as dividend income to the extent of Clearwater’s current or accumulated “earnings and profits” as determined under U.S. federal income tax principles. Distributions of cash in excess of Clearwater’s current and accumulated earnings and profits will be treated as a non-taxablereturn of capital reducing a U.S. Holder’s adjusted tax basis in such U.S. Holder’s shares of Clearwater Common Stock and, to the extent the distribution exceeds such U.S. Holder’s adjusted tax basis, as capital gain from the sale or exchange of such shares of Clearwater Common Stock. Dividends received by a corporate U.S. Holder may be eligible for a dividends received deduction, subject to applicable limitations. Dividends received by an individual U.S. Holder may be taxed at the lower applicable long-term capital gains rate if such dividends are treated as “qualified dividend income” for U.S. federal income tax purposes. Gain or loss on sale, taxable exchange or other taxable disposition of Clearwater Common Stock Upon the sale, exchange, certain redemptions or other taxable dispositions of shares of Clearwater Common Stock received in the Merger, a U.S. Holder will generally recognize capital gain or loss equal to the difference between (i) the amount of cash and the fair market value of any other property received