Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 224

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 224
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 Merger Agreement has been the proximate cause of, or has proximately resulted in, the non-appealable permanent order 
 or action; or                                                                                                                                                                                                   |

| • |     | if the Stockholder Approval have not been obtained at the Special Meeting (as may be adjourned or postponed 
 thereof).                                                                                                   |

| • |     | By Enfusion: |

| • |     | if there has been any breach of any representation or warranty or failure to perform any covenant or agreement on                                                                                                                            
 the part of Clearwater, Acquirer, Merger Sub or Merger Sub II, in either case which (i) would cause any of the conditions to the obligations of Enfusion not to be satisfied and (ii) such breach has not been cured prior to the earlier of 
 the End Date or the 30th day following Enfusion’s delivery of written notice describing such breach to Clearwater; provided, however, Enfusion will not be entitled to terminate the Merger Agreement if Enfusion is in breach of its        
 obligations under the Merger Agreement that would result in any condition to the obligations of Clearwater and Merger Sub not to be satisfied; or                                                                                            |

142

| • |     | at any time prior to receipt of the Stockholder Approval, if Enfusion has received a Superior Proposal and the                                                                                                                                 
 Enfusion Board or any committee thereof, acting upon the recommendations of the Special Committee, have determined to enter into a definitive agreement with respect to a Superior Proposal (with such definitive agreement being entered into 
 substantially concurrently with the termination of the Merger Agreement (but in no case prior to the termination of the Merger Agreement)); provided, that Enfusion pays the Company Termination Fee (as defined in the section titled “The    
 Merger Agreement—Termination Fees and Expenses”) concurrently with and as a condition to such termination;                                                                                                                                     |

| • |     | By Clearwater: |

| • |     | if there has been any breach of any representation or warranty or failure to perform any covenant or agreement on                                                                                                                               
 the part of Enfusion which (1) would cause any of the conditions to the obligations of Clearwater, Acquirer, Merger Sub or Merger Sub II not to be satisfied and (2) such breach has not been cured prior to the earlier of the End Date or the 
 30th day following Clearwater’s delivery of written notice describing such breach to Enfusion; provided, however, Clearwater will not be entitled to terminate the Merger Agreement