Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 58

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 58
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 Clearwater, Enfusion and, following the completion of the Transactions, Clearwater.

Parties with which Clearwater and Enfusion, or their respective subsidiaries, do business may be uncertain as to the effects the
Transactions may have on them, including with respect to current or future business relationships with Clearwater, Enfusion or their respective subsidiaries. These relationships may be subject to disruption as customers, suppliers and other persons
with whom Clearwater and Enfusion have a business relationship may delay or defer certain business decisions or might decide to terminate, change or renegotiate their relationships with Clearwater or Enfusion, as applicable, or consider entering
into business relationships with parties other than Clearwater, Enfusion or their respective subsidiaries. These disruptions could have an adverse effect on the results of operations, cash flows and financial position of Clearwater or Enfusion,
including an adverse effect on Clearwater’s ability to realize the expected synergies and other benefits of the Transactions. The risk, and adverse effect, of any disruption could be exacerbated by a delay in completion of the Transactions or
termination of the Merger Agreement.

Failure to complete the Transactions could negatively affect the stock price and the future business and financial results of Enfusion.

If the Transactions are not completed for any reason, including as a result of Enfusion
Stockholders failing to approve the Merger Agreement Proposal, the ongoing business of Enfusion may be adversely affected and,

34

without realizing any of the benefits of having completed the Transactions, Enfusion could be subject to a number of negative consequences, including the following:

| • |     | Enfusion may experience negative reactions from the financial markets, including negative impacts on its stock 
 price;                                                                                                         |

| • |     | Enfusion may experience negative reactions from its customers and suppliers; |

| • |     | Enfusion may experience negative reactions from its employees and may not be able to retain key management 
 personnel and other key employees;                                                                         |

| • |     | Enfusion will have incurred, and will continue to incur, significant                      
 non-recurring costs in connection with the Transactions that it may be unable to recover; |

| • |     | the Merger Agreement places certain restrictions on the conduct of Enfusion’s business prior to completion                                                                                                                                         
 of the Transactions, the waiver of which is subject to the consent of Clearwater (not to be unreasonably withheld, conditioned or delayed), which may prevent Enfusion from making certain acquisitions, taking certain other specified actions or 
 otherwise pursuing business opportunities during the pendency of the Transactions