Company: CWAN
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001193125-25-058975
Chunk: 136

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 136
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 2025 and fiscal year 2034 reflecting 
 Enfusion’s management’s assumptions and estimates for future growth; and                                          |

| • |     | Adjusted EBITDA margins (as defined herein) ranging from 24% to 39% between fiscal year 2025 and fiscal year 2034 
 as the Company is expected to drive operating efficiencies as revenue scales.                                     |

The following table summarizes the Financial Projections:

| 10 Year Profit & Loss (Amounts in 
 millions)                         |     | Q4    
 2024E |    |     | 2025E |     |     | 2026E |     |     | 2027E |     |     | 2028E |     |     | 2029E |     |     | 2030E |     |     | 2031E |     |     | 2032E |     |     | 2033E |     |     | 2034E |     |
|:----------------------------------|:----|:------|---:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|:----|:------|----:|
| Revenue                           |     | $     | 53 |     | $     | 245 |     | $     | 303 |     | $     | 376 |     | $     | 461 |     | $     | 555 |     | $     | 652 |     | $     | 746 |     | $     | 831 |     | $     | 901 |     | $     | 950 |
| Adjusted EBITDA(1)                |     | $     | 12 |     | $     |  58 |     | $     |  81 |     | $     | 113 |     | $     | 148 |     | $     | 189 |     | $     | 228 |     | $     | 269 |     | $     | 308 |     | $     | 343 |     | $     | 370 |
| Unlevered Free Cash Flow(2