Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 104

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 104
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Subsidiaries has taken any action, or knows of any fact, agreement, plan or other circumstance, that could reasonably be expected to prevent the Corporate Mergers, taken together, from qualifying as a reorganization within the meaning of
Section 368(a) of the Code.

Section 5.22 Ownership and Tax Classification of Acquirer, Merger Sub, and Merger Sub II.

(a) Acquirer is a direct, wholly owned subsidiary of Parent, was formed solely for the purpose of engaging in the Second
Merger, as of the date hereof has engaged in no business activity other than in connection with entering into this Agreement, and as of the Second Effective Time (if the Second Effective Time shall occur in accordance with the terms and conditions
of this Agreement) will have engaged in no business activity other than those occurring in connection with the Second Merger or otherwise as provided in this Agreement. Parent is, and will be at the Effective Time and the Second Effective Time (if
the Second Effective Time shall occur in accordance with the terms and conditions of this Agreement), the sole regarded owner of Acquirer for U.S. federal income tax purposes and is, and will be at the Effective Time and the Second Effective Time,
in “control” of Acquirer as defined in Section 368(c) of the Code.

(b) Merger Sub is a direct, wholly owned subsidiary of
Parent, was formed solely for the purposes of engaging in the Mergers and has engaged in no business other than as contemplated by this Agreement. Merger Sub is, and will be at the Effective Time, treated as a transitory merger subsidiary for U.S.
federal income tax purposes.

ARTICLE VI

COVENANTS

Section 6.01 Conduct of the Company.

(a) Except for matters (i) required, expressly permitted or expressly contemplated by this Agreement, (ii) set forth in
of the Company Disclosure Schedule, (iii) required by Applicable Law or (iv) undertaken with the prior written consent of Parent (which consent shall not be unreasonably withheld, conditioned or
delayed and provided that the failure of Parent to respond to a request in writing for consent within five Business Days after receipt thereof shall be deemed to constitute consent), the Company shall, and shall cause each of its Subsidiaries to,
use commercially reasonable efforts to conduct its business in the ordinary course and use commercially reasonable efforts to preserve the present business operations, organization and goodwill of the Company and its Subsidiaries,