Clearwater Analytics Update

Silicon Valley Bank Receivership Has Non-Material Impact

BOISE, Idaho, March 13, 2023 — Clearwater Analytics Holdings, Inc. (“Clearwater Analytics” or the “Company”) (NYSE: CWAN), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, is aware that Silicon Valley Bank (“SVB”) has been placed into receivership by U.S. banking regulators. The Company does not hold any deposits at SVB or have any other direct investments at SVB and we do not expect the SVB closure to have any effect on our liquidity or treasury operations.

An affiliate of SVB is a client of the Company that represented less than 1.5% of annualized recurring revenue (“ARR”) of the Company as of December 31, 2022. The client was current in its payments; therefore, the client’s receivable balance is de minimis. Our services to the entity entailed providing reports to the entity’s end-clients of their investments held at a third-party custodian. We do not have an indication that this entity is also in receivership, and so the entity may continue as a client. Moreover, if the entity ceases to be a client, end-clients of the entity may continue to use our services directly or via another asset manager.

Based on the foregoing, the Company does not believe it has any material exposure to SVB receivership.

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