Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 87

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 87
---
 of an oversubscription of either the cash consideration or the stock consideration (both if you elect solely the oversubscribed form of Merger Consideration and if you elect a combination of the cash consideration and the stock consideration). Note that for illustrative purposes, the following examples do not round shares to the nearest whole number.

| • |     | If you own 100 Eligible Shares and elect to receive solely the cash consideration, and 80% of the holders of                                                                                                                                             
 Eligible Shares elect to receive cash, 15% of the holders of Eligible Shares elect to receive Clearwater Common Stock and 5% of the holders of Eligible Shares do not make an election, you will receive cash in exchange for 65 of your Eligible Shares 
 and Clearwater Common Stock in exchange for 35 of your Eligible Shares.                                                                                                                                                                                  |

| • |     | If you own 100 Eligible Shares and elect to receive the cash consideration for 55 shares and the stock                                                                                                                                                  
 consideration for 45 shares, and 80% of the holders of Eligible Shares elect to receive cash, 15% of the holders of Eligible Shares elect to receive Clearwater Common Stock and 5% of the holders of Eligible Shares do not make an election, you will 
 receive cash in exchange for 35.75 of your Eligible Shares and Clearwater Common Stock in exchange for 64.25 of your Eligible Shares.                                                                                                                   |

| • |     | If you own 100 Eligible Shares and elect to receive solely the stock consideration, and 80% of the holders of                                                                                                                                            
 Eligible Shares elect to receive Clearwater Common Stock, 15% of the holders of Eligible Shares elect to receive cash and 5% of the holders of Eligible Shares do not make an election, you will receive cash in exchange for 40 of your Eligible Shares 
 and Clearwater Common Stock in exchange for 60 of your Eligible Shares.                                                                                                                                                                                  |

| • |     | If you own 100 Eligible Shares and elect to receive the cash consideration for 45 shares and the stock                                                                                                                                                  
 consideration for 55 shares, and 80% of the holders of Eligible Shares elect to receive Clearwater Common Stock, 15% of the holders of Eligible Shares elect to receive cash and 5% of the holders of Eligible Shares do not make an election, you will 
 receive cash in exchange for 67 of your Eligible Shares and Clearwater Common Stock in exchange for