# EDGAR Filing Document

**Accession Number:** 0001626317
**File Stem:** 0000899243-23-009836
**Filing Date:** 2023-3
**Character Count:** 27097
**Document Hash:** 54164ea11455836aa560a5a1a4a0b55f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000899243-23-009836.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0000899243-23-009836

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230327

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Welsh, Carson, Anderson & Stowe XII, L.P.
- **CENTRAL INDEX KEY:** 0001626317
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771392

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 320 PARK AVENUE, SUITE 2500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 893-9500

**MAIL ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 320 PARK AVENUE, SUITE 2500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Welsh, Carson, Anderson & Stowe XII Delaware II, L.P.
- **CENTRAL INDEX KEY:** 0001627643
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771390

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 320 PARK AVENUE, SUITE 2500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-893-9500

**MAIL ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 320 PARK AVENUE, SUITE 2500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Welsh, Carson, Anderson & Stowe XII Cayman, L.P.
- **CENTRAL INDEX KEY:** 0001627644
- **STATE OF INCORPORATION:** E9

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771389

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 320 PARK AVENUE, SUITE 2500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-893-9500

**MAIL ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 320 PARK AVENUE, SUITE 2500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Welsh, Carson, Anderson & Stowe XII Delaware, L.P.
- **CENTRAL INDEX KEY:** 0001680912
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771391

**BUSINESS ADDRESS:**
- **STREET 1:** 320 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-893-9500

**MAIL ADDRESS:**
- **STREET 1:** 320 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** WCAS XII Carbon Investors, L.P.
- **CENTRAL INDEX KEY:** 0001884563
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771394

**BUSINESS ADDRESS:**
- **STREET 1:** 450 LEXINGTON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-878-0600

**MAIL ADDRESS:**
- **STREET 1:** 450 LEXINGTON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** WCAS XIII Carbon Investors, L.P.
- **CENTRAL INDEX KEY:** 0001884565
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771393

**BUSINESS ADDRESS:**
- **STREET 1:** 450 LEXINGTON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-878-0600

**MAIL ADDRESS:**
- **STREET 1:** 450 LEXINGTON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** WCAS XIII CARBON ANALYTICS ACQUISITION, L.P.
- **CENTRAL INDEX KEY:** 0001879859
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771396

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 599 LEXINGTON AVENUE, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 893-9500

**MAIL ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 599 LEXINGTON AVENUE, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** WCAS XII CARBON ANALYTICS ACQUISITION, L.P.
- **CENTRAL INDEX KEY:** 0001879860
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771397

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 599 LEXINGTON AVENUE, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 893-9500

**MAIL ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 599 LEXINGTON AVENUE, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** WCAS GP CW LLC
- **CENTRAL INDEX KEY:** 0001879925
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771395

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 599 LEXINGTON AVENUE, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 893-9500

**MAIL ADDRESS:**
- **STREET 1:** C/O WELSH, CARSON, ANDERSON & STOWE
- **STREET 2:** 599 LEXINGTON AVENUE, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** WCAS XII ASSOCIATES CAYMAN, L.P.
- **CENTRAL INDEX KEY:** 0001848620
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40838
- **FILM NUMBER:** 23771388

**BUSINESS ADDRESS:**
- **STREET 1:** 599 LEXINGTON AVE, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 893-9500

**MAIL ADDRESS:**
- **STREET 1:** 599 LEXINGTON AVE, 18TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Clearwater Analytics Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001866368
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 777 W. MAIN STREET, SUITE 900
- **CITY:** BOISE
- **STATE:** ID
- **ZIP:** 83702
- **BUSINESS PHONE:** 208-918-2400

**MAIL ADDRESS:**
- **STREET 1:** 777 W. MAIN STREET, SUITE 900
- **CITY:** BOISE
- **STATE:** ID
- **ZIP:** 83702

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>WCAS XII CARBON ANALYTICS ACQUISITION, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>WCAS XIII CARBON ANALYTICS ACQUISITION, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>WCAS GP CW LLC<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>WCAS XII Carbon Investors, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>WCAS XIII Carbon Investors, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Welsh, Carson, Anderson & Stowe XII, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Welsh, Carson, Anderson & Stowe XII Delaware, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Welsh, Carson, Anderson & Stowe XII Delaware II, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Welsh, Carson, Anderson & Stowe XII Cayman, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>WCAS XII ASSOCIATES CAYMAN, L.P.<br><sub>(Last) (First) (Middle)</sub><br>C/O WELSH, CARSON, ANDERSON AND STOWE<br>599 LEXINGTON AVENUE, SUITE 1800<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-27 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Clearwater Analytics Holdings, Inc. [ CWAN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class C Common Stock<sup>(1)</sup> | 2023-03-27 |  | C |  | 391675 | D | <sup>(1)(2)</sup> | 42791569 | I | See Footnotes<sup>(3)(4)(5)(7)</sup> |
| Class D Common Stock<sup>(3)</sup> | 2023-03-27 |  | C |  | 828372 | D | <sup>(1)(2)</sup> | 54004074 | I | See Footnotes<sup>(3)(4)(5)(7)</sup> |
| Class A Common Stock | 2023-03-27 |  | C |  | 1220047 | A | <sup>(1)(2)</sup> | 1220047 | I | See Footnotes<sup>(3)(4)(5)(7)</sup> |
| Class A Common Stock | 2023-03-28 |  | S |  | 1220047 | D | 14.50<sup>(6)</sup> | 0 | I | See Footnotes<sup>(3)(4)(5)(7)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| CWAN Holdings LLC Interests<sup>(1)</sup> | <sup>(1)(2)</sup> | 2023-03-27 |  | C |  |  | 391675 | <sup>(1)(2)</sup> | <sup>(1)(2)</sup> | Class A or Class D Common Stock<sup>(2)</sup> | 391675 | <sup>(1)(2)</sup> | 42791569 | I | See Footnotes<sup>(3)(4)(5)(7)</sup> |

---

### Footnotes:

(1) Shares of Class C Common Stock do not represent economic interests in the Issuer. Except as provided in the Issuer's certificate of incorporation or as required by applicable law, holders of Class C Common Stock will be initially entitled to 10 votes per share on all matters to be voted on by the Issuer's stockholders generally. The Reporting Person may exchange all or a portion of such person's common units of CWAN Holdings, LLC ("LLC Interests") (together with the delivery for no consideration of an equal number of shares of Class C Common Stock) for an equal number of newly issued shares of Class D Common Stock or Class A Common Stock from time to time, subject to customary adjustments, or, at the election of the Issuer, a cash payment equal to the 20 day volume weighted average price of shares of Class A Common Stock immediately prior to the applicable exchange date.

(2) Upon the earlier of (i) the date that affiliates of Welsh Carson own less than 5% of the Issuer's common stock and (ii) the seventh anniversary of the closing of the Issuer's initial public offering, each share of Class D Common Stock will automatically convert into a share of Class A Common Stock and each share of Class C Common Stock will automatically convert into a share of Class B Common Stock of the Issuer, each of which is entitled to one vote per share. Thereafter, an exchange of the Reporting Person's LLC Interests will be for Class A Common Stock and the surrender for no consideration of non-economic voting stock in connection with such exchange will be with respect to Class B Common Stock held by the Reporting Person.

(3) Includes 16,366,931 shares of Class C Common Stock directly held by WCAS XII Carbon Analytics Acquisition, L.P., 24,572,711 shares of Class C Common Stock directly held by WCAS XIII Carbon Analytics Acquisition, L.P., 1,614,949 shares of Class C Common Stock directly held by WCAS GP CW LLC, 11,661,939 shares of Class D Common Stock directly held by Welsh, Carson, Anderson & Stowe XII, L.P., 5,036,103 shares of Class D Common Stock directly held by Welsh, Carson, Anderson & Stowe XII Delaware, L.P., 730,822 shares of Class D Common Stock directly held by Welsh, Carson, Anderson & Stowe XII Delaware II, L.P., 5,065,206 shares of Class D Common Stock directly held by Welsh, Carson, Anderson & Stowe XII Cayman, L.P., 11,336,497 shares of Class D Common Stock directly held by WCAS XII Carbon Investors, L.P. and 19,838,373 shares of Class D Common Stock directly held by WCAS XIII Carbon Investors, L.P. (together, the "WCAS Entities").

(4) (continued from footnote 3) Additionally, (i) WCAS XII Associates LLC directly holds (a) 236,696 shares of Class C Common Stock and (b) 183,373 shares of Class D Common Stock and (ii) WCAS XII Associates Cayman, L.P. directly holds (a) 282 shares of Class C Common Stock and (b) 151,761 shares of Class D Common Stock, which were received in a distribution, for no consideration, by the WCAS Entities. The holdings by the WCAS Entities reflected in Footnote 3 give effect to these distributions. The amounts reflected in Footnotes 3 and 4 hereof also give effect to the sales reported in this statement which were pursuant to an exercise by the underwriters of their option to purchase additional shares of Class A Common Stock in connection with the previously reported underwritten public offering that initially closed on March 13, 2023.

(5) The general partner of Welsh, Carson, Anderson & Stowe XII Delaware, L.P. and Welsh, Carson, Anderson & Stowe XII Cayman, L.P. is WCAS XII Associates Cayman, L.P. The general partner of WCAS XII Carbon Analytics Acquisition, L.P., Welsh, Carson, Anderson & Stowe XII, L.P., WCAS XII Associates Cayman, L.P. and Welsh, Carson, Anderson & Stowe XII Delaware II, L.P. is WCAS XII Associates LLC. The general partner of WCAS XIII Carbon Analytics Acquisition, L.P. and the managing member of WCAS GP CW LLC is WCAS XIII Associates LLC. Investment and voting decisions with respect to the shares held by the WCAS Entities are made by a committee comprised of three or more individuals and all members of such committee disclaim beneficial ownership of the shares.

(6) This amount represents a public offering price of $15.00 per share of Class A Common Stock less an underwriting discount of $0.50 per share for shares sold in an underwritten public offering.

(7) Each of the Reporting Persons disclaims beneficial ownership except to the extent of their pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any Reporting Person is the beneficial owner of any or all of the reported securities for the purposes of Section 16 or for any other purpose.

**Remarks:**
Form 1 of 2

**Signature:** WCAS XII CARBON ANALYTICS ACQUISITION, L.P., By: WCAS XII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WCAS XIII CARBON ANALYTICS ACQUISITION, L.P., By: WCAS XIII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WCAS GP CW LLC, By: WCAS XIII Associates LLC, its managing member /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WCAS XII CARBON INVESTORS, L.P., By: WCAS XII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WCAS XIII CARBON INVESTORS, L.P., By: WCAS XIII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WELSH, CARSON, ANDERSON & STOWE XII, L.P., By: WCAS XII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WELSH, CARSON, ANDERSON & STOWE XII DELAWARE, L.P., By: WCAS XII Associates Cayman, L.P., its general partner, By: WCAS XII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WELSH, CARSON, ANDERSON & STOWE XII DELAWARE II, L.P., By: WCAS XII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WELSH, CARSON, ANDERSON & STOWE XII CAYMAN, L.P., By: WCAS XII Associates Cayman, L.P., its general partner, By: WCAS XII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

**Signature:** WCAS XII ASSOCIATES CAYMAN, L.P., By: WCAS XII Associates LLC, its general partner /s/ Jonathan Rather, Managing Member  
**Date:** 2023-03-28

### Remarks:

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