Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 281

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 281
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 reasonably be expected to materially impede, materially delay or prevent Parent’s, Acquirer’s, Merger Sub’s or Merger Sub II’s ability to consummate the transactions contemplated by this Agreement or (ii) has
had, or would reasonably be expected to have, a material adverse effect on the business, financial condition, assets, liabilities or results of operations of Parent and its Subsidiaries, taken as a whole; , , that none
of the following (alone or in combination) shall constitute or be taken into account in determining whether a Parent Material Adverse Effect has occurred or would reasonably be expected to occur pursuant to the foregoing clause (ii):

A. the negotiation, execution, announcement or performance of this Agreement or the pendency or consummation of the Mergers or the other
transactions contemplated by this Agreement (including, solely to the extent it relates to the foregoing, any loss of or adverse change in the relationship of Parent and its Subsidiaries with their respective employees, investors, contractors,
lenders, customers, technology and other partners, suppliers, vendors or Governmental Authorities or other Third Parties related thereto); , that no effect shall be given to this clause (A) for purposes of any representation or
warranty in or the condition to Closing in to the extent relating to any such representation or warranty;

B. general business, economic or political conditions, or the capital, credit, banking, debt, financial or currency markets, in the United
States or elsewhere in the world, or changes therein, including changes in interest or exchange rates or any suspension of trading in securities on the NYSE;

A-11

C. general conditions in any industry in which Parent and its Subsidiaries operate or in any
specific jurisdiction or geographic area in the United States or elsewhere in the world in which the Company and its Subsidiaries operate, or changes therein;

D. any changes in GAAP or other accounting standards (or the enforcement or interpretation thereof) enacted after the date hereof;

E. any changes in Applicable Law (or the enforcement or interpretation thereof), including the adoption, implementation, repeal, modification,
reinterpretation or proposal of any Applicable Law (or the enforcement or interpretation thereof) by any Governmental Authority, or any panel or advisory body empowered or appointed thereby, in each case, enacted after the date hereof;

F. the taking of any action, or refraining from taking any action, in each case at the express written direction of the Company or