GT Silver BidCo, Inc.

Permira and Warburg Pincus - Clearwater Analytics

Permira is a Guernsey registered private equity business engaged, through its subsidiaries and affiliates, in the provision of investment management services to a number of investment funds. Permira ultimately controls a number of private equity funds, which include portfolio companies active across the consumer, services, healthcare and technology sectors. Warburg Pincus is private equity firm headquartered in New York, USA. Warburg Pincus’ portfolio companies are active in a variety of sectors, including consumer, energy, financial services, healthcare, industrial and business services and technology, media and telecommunications. In Australia, Warburg Pincus’ portfolio companies are primarily active in software and financial sectors. Clearwater Analytics is a software-as-a-service company, headquartered in Boise, Idaho, USA, that provides automated, cloud-based software solutions for investors to manage investment data. Clearwater Analytics provides accounting and reporting, data, advanced analytics, risk and performance and portfolio and order management capabilities for a range of investor types across both public and private markets. Clearwater Analytics’ platform services the following clients: asset managers, banks, corporates, energy (e.g., commodity trading), hedge funds, insurance companies, pensions and endowments, and the public sector (i.e., government entities managing public funds). The Acquisition concerns the proposed acquisition of joint control over Clearwater Analytics by funds managed and advised by subsidiaries or affiliates of Permira and Warburg Pincus by way of purchase of shares.