Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 17

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 17
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 Per Share Stock Consideration or Per Share Cash Consideration according to the allocation procedures specified in 
 the Merger Agreement. Generally, in the event one form of Merger Consideration (i.e., cash or shares of Clearwater Common Stock) is undersubscribed, “non-election” shares will be allocated the       
 undersubscribed consideration.                                                                                                                                                                         |

| Q: | If I make a valid Merger Consideration election, could I receive a form of Merger Consideration that I 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 |

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| 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