#1enfusion October 2021 PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED.#2See clearly Act confidently October 2021 enfusion PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED.#3Disclaimer Enfusion, Inc. ("Enfusion" or the "Company") has filed a registration statement (including a preliminary prospectus) on Form S-1 (File No. 333-259635) with the Securities and Exchange Commission (the "SEC") for the offering to which this presentation relates. The registration statement has not yet become effective. Before you invest, you should read the preliminary prospectus in that registration statement and other documents we have filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting the SEC website at http://www.sec.gov. Alternatively, copies of the preliminary prospectus may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014; or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at [email protected]. This presentation and accompanying oral presentation shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there by any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This presentation and the accompanying oral presentation contain forward-looking statements. All statements other than statements of historical fact contained in this presentation, including statements as to future financial position, business strategy and plans, objectives of management for future operations of the Company, market size, growth opportunities, competitive position and market trends, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "shall," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern the Company's expectations, strategy, plans or intentions. The Company has based these forward-looking statements largely on its current expectations and assumptions and on information available as of the date of this presentation. The Company assumes no obligation to update any forward-looking statements after the date of this presentation, except as required by law. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors including, but not limited to, our limited operating history; our ability to sustain our growth rates; our ability to attract and retain new customers; overall economic conditions; and our compliance with extensive laws and regulations. Moreover, we operate in very competitive and rapidly changing environments, and new risks may emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. These and other factors may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although our management believes that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assume responsibility for the accuracy and completeness of the forward- looking statements. We undertake no obligation to update any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations, except as required by law. This presentation contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such date after the date of this presentation. All third-party brand names and logos appearing in this presentation are trademarks or registered trademarks of their respective holders. Any such appearance does not necessarily imply any affiliation with or endorsement of the Company. GAAP AND NON-GAAP RESULTS This presentation includes non-GAAP financial measures. These non-GAAP financial measures are in addition , and not as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures. For example, other companies may calculate similarly-titled non-GAAP financial measures differently. Refer to the Appendix for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures. •:enfusion PROPRIETARY AND CONFIDENTIAL ©2021 ENFUSION. ALL RIGHTS RESERVED. 3#4Today's presenters enfusion Thomas Kim CHIEF EXECUTIVE OFFICER Steve Dorton CHIEF FINANCIAL OFFICER 4#5Company Overview#6OUR MISSION To help solve investment managers' evolving business and operational challenges through next generation technology enfusion +LS BY Sector (OMS) * Consumer Discreti Consumer Sta E Hancials Health Care industrials information Techn... Deaction $0.00 $757853 $0:00 $15785 $20,760.41 $300 4130330 $799.34 ADVANCED MICRO DEVICES ORD APPLE ORD DIGITAL ALLY ORD HELIOS AND MATHESON ANALY INTELORD INTERNATIONAL BUSINESS MA MICROSOFT ORD Materials MANO DIMENSION 1 ADR REPO... MVIDIA ORD NOP SEMICONDUCTORS ORD $ Total Daily Day Redficent $ Daily Uhrmal 8 Daily Trading Bowle Comme Daily PX Con $Daily Dielen $0.00 $0.00 57,190.38 $0.00 $0.00 PROD FAD PCLBORD SLACK TECHNOLOGIES CARD TRANSCENDENCE TECHNOLO 344,300 200,000 41,470 40,000 331,000 13,000 $0.00 $0.00 1000 10.00 82576.53 $0.00 $46,318.29 $0.00 $0.00 18.01 $0.00 $0.00 $15780 10.00 $2079041 $13.996.21 10.00 $0.00 $0.00 $0.00 1198 20 $700.26 $UTDPM 122.53505 5420000 90.00 $0.00 163 Bany 54,200.00 $0.00 $0.00 $0.00 $0.09 10.00 $.00 $4,200.00 $22.525.06 $22.525.055102851.45 $0.00 $0.00 10.00 $0.00 $0.00 3101536 $1101520 $110152.06 17863 -7POMM -4377542844373542444100.0 $0.00 Buww 1000 $4,700.00 050-4625 $0.00 $12,000.00 $13,000.00 $10,000.00 $320,000.00 $6.00 $0.00 $6.00 $15080000 $1,800.00 160000 177676.50 90.00 50.00 90.00 00:00 $0.00 90.00 SYTOPAL $PL Market Price Native Daily Tray 0.00 + View CS1300 (Jan 5,485.20 Program Name Program Name Communica.. Communi... Communi... Communi... 105 10 0.00% CAM Compo Beach Ś 552 19 10.04 1934 $583.36 BOL Legal Entity My Blotter (41) x Needs Action (0) x Active Orders (41) Filters Y <25% Filled ww 10.05 $0.00 3000 Day Fenci Daly Accue $7,83.30 $0.00 50.00 Clear Filters Status $0.00 $0.00 $0.00 $0.00 130435 1000 Totally Day Read Daily Unnal Da Tradina 5Da CommS Daly FX Con Daily Den Day Fancy Accue -$3,396 904 54 $0.00 10.00 1000 $6.79 M $0.00 $0.00 $0 $0.00 $0.00 0.00 X $0.00 $0.00 Instruments DJI n/a (D) S 1000 0.00% 0.00 BM GICS Pct x Exch US US US US US US US Enfusion [email protected]@[PO-=prodapps220.chi, DS-dataserver-prod-us01] - [52359] Trade Position Help DOW (Mar) 30,942.00 US US O F 4 Ⓡ Filled %... verage Cost 78.12 107.22 0% 0% 0% 0.00% PL GICS 0% 9:04 0% 0% EWT XO 8T XC 0% ẾT XE 0% 8T XC A /T XC ✔T XC ✓OT XC Not >250k 8T XC gì xó Compliance Issues Buy SUMMIT ORD Limit Compliance Buy AUTODESK ORD Limit 100 x 0.00% 0.00 Order Management X F Đ Active Routes (0) Buy LOEWS ORD Limit ⒸNDX n/a (D) 0.00 Buy SPOR S&P BOTECH ETF Limit Position Y Chan Open 25,000 Buy 30,932 Buy 68,750 Buy In Compliance o OID: 8215296 O Nasdaq (Mar) n/a (D) Ⓒ Ⓒ E Buy ADVANCE AUTO PARTS ORD Limit 9 OID: 8215178 Buy STANDARD MOTOR ORD Limit / OID: 8215278 Buy ES20-ESHT Mar... Buy ACTIVISION BLIZZARD ORD Limit . OID: 7789440 Sel INTERNATIONAL BUSINESS MACHIN Limit -35000 OID: 7813903 Inactive Routes (8) Txn OID: 7363437 O Sell Short FB 1,954 Buy NFLX O Sell Short SNAP O Sell Short TWTR 321 Buy 41,520 Buy OID: 8215009 $ LMV OID: 8215228 23,168,592 Ticker LAZR TSLA VLDR AMZN HI Compo 645,840 0.00% O 645,840 Quantity 0.00 $ SMV Completed Orders (0) Y Comm Svcs 250,000 25,000 200,000 9 X Cancel Stale Routes Alerts (0) Y Cons Disc 11.072.562 3,811.702 57.197.331 1,000 Market Data Status: Up 626.566 81,015.393 ra (D) 0 $ SMV 0.00% M Limit Gold (Jan) 1,912.30 0.00 0.00% 645,840 $GMV 269.48 Limit GTC 523.77 Limit GTC 52.09 Limit GTC 53.76 Limit GTC Market GTC Market GTC Market GTC 3,183.40 Limit GTC 36.97 Limit GTC Value Date Latest S GMV $ YTD P&L 23,168,592 3,231,832 645,840 Pair (0) xMNUS (49) x Clear (0) x S (41) Y Indus Financials More Settings Type TIF $ Notional Trade Am... Market/Limit Delta -163,860 VIX (Jan) 23.23 0.00 $ YTD P&L -163,860 8,032,500 17,641,750 5,164,000 2,983,834.059 1,996,455.117 2,979,408.961 53,760 1,994,611.529 2,995,139.076 Save $ MTD P&L 3,231,832 0.00% EUR/USD 1.2272 PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. Info Tech 0 0 Save As. 0.00% Y Global 32.16 816.07 25.82 0.67 268.81 -14.92 508.85 -0.29 1.49 52.38 52.27 MI Market Env. Enfusion-Default Description -21.17 3,162.23 6.47 43.44 Export APPLE ORD -163,860 FOLEY TRASIMENE ACQ II CL A ORD $ MTD P&L FundShortName Custodian -163,860 Print. 6#7Enfusion at a glance SCALE $108MM Q2 2021 ARR REACH 635 / 34% Global clients³/ 1H'2021 international revenue % enfusion ORGANIC GROWTH 37% / 44% 2019-2020 ARR growth / 2Q'21 YOY ARR growth MOMENTUM 106 New clients signed in 1H'2021³ PREDICTABLE 98% Subscription driven recurring revenue¹ STICKY 0.9% 2020 adjusted revenue churn² Represents platform subscriptions and managed services revenue for 2020. 2 Excludes involuntary cancellations. 3 As of 30-Jun-2021. 4 Adjusted EBITDA margin is a non-GAAP metric; definitions can be found on slide 38 and reconciliation to nearest GAAP metric can be found on slide 39 CAPTIVE 120% 2020 Net dollar retention² EFFICIENT 73% / 32% 2020 gross margin / adjusted EBITDA margin4 PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 7#8We simplify and unify the investment management lifecycle We manage complex workflows... Fills Orders Reconciliations Allocated Trades Reporting Statements enfusion GIC Sector Communicatio... D O Pairs x All Symbols (194) Communica Pair Communica.... Pair 1 Communica... Skyliners Communica... Skyliners Partially... Communica High Tide PM Partially Communica... High Tide PM Communica... High Tide PM Communica... High Tide AM Partially Consumer Dis... > Y Communications Consumer D... Skyliners Consumer D Pair 3 Consumer D. EU Focus Consumer D. EU Focus Consumer D Skyliners OMS Server Status: Up > Charle Orderid 9348141 fill alert. Buy 10000.00 of 'BUTTERFLY NETWORK CLA ORD @ 17.00. 15.00 % filled. Matched Threshold 5.00% X- > Mary Clark > Missing Portfolio Manager ✰ Ⓡ x My Groups x Voice Orders (194) Position Y Chan Oper Energy Financial Y Indus/Mater Technology 698,677 105,826 TCSNAP US Equity Undecided 176,450TX C TWTR US Equity OTCATVI US 01/21/2... OT CATVI US Equity 176.450YXCTWTR US Equity 63,460TX CFB US Equity 105.826TX CSNAP US Equity 70,665TX C NFLX US Equity 44,000 Routing Link Status: Blockcross NYFIX TEST (Dark Pool) BB Ticker TC NMKA MM Equity Undecided 21,300TX C SCI US Equity TCGM US Equity TXC HDI GR Equity 230,941.61 $478,605.93 -$19,860.81 $6,226.25 -260,122.52 -$1,071.06 65,684.25 1,431.58 -39,952.00 Undecided Undecided Bay Undecided Buy Undecided Buy COGN3 BZ Equity Undecided Buv 14.000 Market Data Status: Up MTD Base Amount 327,664,036.90 $327,060,229.62 -$40,913.16 $21,820.00 -714,226.16 -$11,858.91 1,435,588.57 250 000 100,000 YTD Base Amount 283.247,230.40 $287.019.361.82 $4,695,569.30 598.000 1,452.088.75 $118.10 -6,975,426.05 288.00 DSGT *:enfusion Information Tec. Local Time 10:04:00 AM Chicago 9:04:00 AM Hong Kong 11:04:00 PM London 3:04:00 PM New York 10:04 End: * www b Lave AugPx v Last Pet $ Daily PS -7.30% -7.30% FundShortName CLP 34 6.000 5.000 15.000 1,700 70.000 1.000 Liquidity Quantit 3,275.07 3,057.64 18.50 21.06 14,200 31.00 195.06 1.08 0.45 146.89 150.54 Match Case $ MTD P&L $ MTD PAL -18,247 128.73 128.73 Received 21 rows 18,247 $ YTD PBL -124,321 --3,300 -4.350 -38,400 10,234 12,981 $ YTD PAL -259.818 3,650 119.97 $LMV 1,703,645 1,703,645 AvgPx v Last Pet -49,140 3,650 0.0000 ...empowering teams to operate in concert C $ CFO illl Portfolio Manager (3) 8 COO Analysts Compliance Officer Middle Office CIO 임9 Traders Investor Relations PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. Back Office 8#9Serving clients across the investment management industry enfusion Hedge Funds Wealth Managers Alternative Investment Managers Private Equity Traditional Asset Managers Private Credit Mutual Funds Family Offices Pension Funds Institutional Investment Managers Corporate Investment Arms Sovereign Wealth Funds PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 9#10Purpose-built end-to-end solution Analytics • Connected in real-time with our PMS and OEMS . Comprehensive client data insights to analyze portfolios through time horizons and automate customized visualized reports Accounting / General Ledger • Double-entry ledger that automates the posting of general ledger journal entries directly from PMS Complete, real-time Accounting Book of Record ("ABOR") •:enfusion Performance Attribution Mission critical systems integrated with a suite of technology-powered services Analytics PMS Visual Analytics Reporting & Analytics START Investment Decision One Single Dataset and Source of Truth eSpaา เp.euee enfusion EOD Trade Files, Admin. & Settlement OEMS Order Generation Order/Trade Routing s & Allocations Trade Affirmation en un prodot Portfolio Management System • Live details of portfolio positions • Real-time Investment Book of Record ("IBOR") Order Execution Management System Electronically communicate and manage trade orders • Systemically enforce trading regulations and internal guidelines Technology-Powered Services • Expert teams empowered by technology • Front-, middle- and back- office time consuming, administrative tasks ¡AL PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 10#11Investment management industry is facing multiple, concurrent generational shifts Increasing Global Complexity enfusion Meaningful Industry Consolidation E Increasing Regulatory and Investor Requirements Demand for Greater Cost Efficiency Demand for Remote Accessibility 11#12Complex workflows create extraordinary business and operational challenges for asset managers Investment Idea Buy-side Clients Risk PMS PORTFOLIO Factor Analysis REPORTING Portfolio Optimization Data Providers Portfolio Construction Order Generation Security Master enfusion Portfolio Manager Outsourced IT Other ............ ORDERS ....... ► Buy-side Clients ◄FILLS............ Front Office Service Providers Real-time Market Data OMS TCA Sell-side Brokers ORDERS....... Passive Dark Pools ORDERS TRADE ACTIVITY REPORTING FILLS Trade Execution Outsourced Trader EMS ORDERS FILLS O) Trader Data Mgmt ROUTES FILLS ORDERS Outsourced COO/CFO DROPPED ****** FILLS Ops Enhanced MO Broker Trading Desk FILLS þ Month End Exchanges Broker Trading Desk PMS Connectivity Fix Software/Service Providers Broker Trading Desk Allocated TO Trades Allocations & Trade Affirmation Outsourced Middle & Back-Office OMS Reporting Performance & Analytics Trade Affirms TO Trades Accounting Trade Affirms Fund Admin Treasury & Compliance Trade Affirmation Affirmation Matching Engine CRM T+I Recs Allocated Trades Allocated Trades T+I Recs Marketing Engagement EOD Trade Files, Administration & Settlement Clearing Accounts Custodian Clearing Network Prime Broker Administrator Cash for Shares on Settlement Date T+I Recs Fund Administration Investor Accounting Monthly Investor Statements PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. ISDA Transfer Agency FCM Subs/ Reds O) E Investors 12#13Existing solutions fall short of comprehensively addressing the challenges Information barriers enfusion Complex communication Cumbersome Underutilized data Rigid functionality Inefficient Technology Manual processing Limited Access Cost-prohibitive Cloud-Migrated Fragmented systems Data leakage Disparate workflows Patches Upgrade issues Limited Task-Specific On-premise PROPRIETARY AND CONFIDENTIAL ©2021 ENFUSION. ALL RIGHTS RESERVED. 13#14Truly cloud native SaaS changes everything Born in the cloud and purpose-built o Stands up quickly, shrinking time to trade Scales easily, enabling agility and growth O Evolves incrementally, delivering continuous enhancements with disruption Combines the power and reliability of an enterprise-grade solution with the speed and agility of the cloud enfusion Continuous innovation Secure, multi-tenant architecture Lower costs, less complexity Harmony at scale Weekly functional updates deliver regular enhancement without the expense or disruption of upgrades. All client environments are wholly separate, secure, and distinct yet all users operate on the same software version. Cloud-native, multi-tenant Saas architecture eliminates the need to manage and maintain on-premises technology. Enfusion scales instantly and smoothly for firms of any size and volume in a way that conventional systems can't replicate. PROPRIETARY AND CONFIDENTIAL ©2021 ENFUSION. ALL RIGHTS RESERVED. 14#15Operational epicenter seamlessly integrating workflows inside and out o Draws on market data from multiple leading third-party providers o Offers pre-loaded security master o Multitude of jobs running, importing and exporting data and connecting to systems that do not support real time information o High volume of FIX sessions at any given time Numerous unique broker connections o Connections available to all clients •:enfusion Third-party data provider Third-party data provider Third-party data provider Third-party data provider Third-party data provider Third-party data provider Third-party data provider enfusion FIX connectivity Clearing broker PROPRIETARY AND CONFIDENTIAL Fund admins In house. systems Prime brokers Private bank Matching systems Reporting systems ©2021 ENFUSION. ALL RIGHTS RESERVED. 15#16Providing one system. One dataset. One experience. Enfusion Solution A cloud-native front-to-back office technology backbone Enfusion Technology- Powered Services Full middle- and back-office outsourcing and performance insights •:enfusion 1 Enfusion Portfolio Management System Enfusion Order Execution and Management System 3 Enfusion Accounting Enfusion Analytics 2 4 5 Middle-Office Services 6 Back-Office Services Analysis Compliance Officer 2 Investor Relations 1 Portfolio Managers Single Dataset One unified dataset that keeps the organization in sync. 2 CFO COO 4 6 Traders 3 3 5 Middle Office Staff Back Office Staff PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 16#17Enfusion is differentiated from legacy solutions. that fall short of addressing industry needs LEGACY SOLUTIONS Cloud-migrated Discrete code streams, retaining single-tenant infrastructure limitations Patchwork of disparate systems Only serve certain aspects of investment managers' workflows Manual processes Time and resource-intensive processes may delay valuable insights Lack of connectivity Manually-refreshed data and limitations for external data sources Long delivery and upgrade cycles Traditional development process prolongs time-to-market Lack of internal controls Disparate systems and manual processes leading to risk / governance issues Local only On-premise or desktop-only solutions reduce flexibility •:enfusion VS ENFUSION Cloud-native One code base, delivering changes to all clients simultaneously One cohesive and flexible solution Seamless unification and simplification of workflows Real-time Real-time access to insights that can be shared throughout the organization Scalability and integrations Client, third party and proprietary APIs drive scalability Continuous enhancements Weekly upgrades to address emerging client needs Sophisticated risk controls Granular, user-defined access controls promote prudent risk management Anywhere access Cloud-native solution enables desktop, web and mobile access PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 17#18Driving long-term client partnerships Clients at the center of our innovation and ethos... o Dedicated servicing team assigned to each client at point of sale and throughout client lifecycle o Feedback process strengthens platform with every update and evolves with client needs Client feedback enfusion enfusion Enhancements delivered to all Nearly 800 software upgrades since launching flagship software in 2006 ¹ Per Aite Group in 2019. 2 As of 2020 - excludes involuntary cancellations. ...driving loyal, committed customer base 94% Client Satisfaction¹ 0.9% Adjusted Revenue Churn² 120% Net Dollar Retention Rate² PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 18#19Supported by an experienced leadership team Thomas Kim CHIEF EXECUTIVE OFFICER Tassat TS TRADINGSCREEN BRIDGEWATER [] LEHMAN BROTHERS unX¹¹ Bronwen Bastone CHIEF PEOPLE OFFICER Merrill Lynch ROBERTSON STEPHENS Knight Brookfield Properties CUSHMAN & WAKEFIELD exos •:enfusion Steve Dorton CHIEF FINANCIAL OFFICER NAVTEQ The WALT DISNEY Company INVISION CAPITAL ADVISORS Michel Finzi GLOBAL HEAD OF PRODUCT MANAGEMENT Tassat LEHMAN BROTHERS BARCLAYS Dan Groman CHIEF TECHNOLOGY OFFICER CME Group NORTHERN TRUST KING STREET Joseph Vayalattu GLOBAL HEAD OF CLIENT ONBOARDING J.P. Morgan NASA Steve Bachert CHIEF REVENUE OFFICER UPTAKE FOURKITES CLOUDERA Alan Polo GLOBAL HEAD OF ACCOUNT MANAGEMENT ALLIANCEBERNSTEIN LEHMAN BROTHERS T G. NYSE Lorelei Skillman CHIEF MARKETING AND COMMUNICATIONS OFFICER EY BNY MELLON Charles PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. River A State Compar Iris Wang GLOBAL HEAD OF STRATEGY BRIDGEWATER BCG T G. 19#20Our Market and Growth#21At the center of a large total addressable market Robust growth in underlying industry IT Hardware Spend Internal IT Spend Software & IT Services from Investment Management enfusion $19Bn+ $2.0Bn $5.7Bn $11.5Bn :enfusion Source: IDC's Worldwide Capital Markets IT Spending Guide (2021); PwC Asset and Wealth Management Revolution (2020) 40% total growth in global AUM 2015-2020 8% annual growth of alternatives AUM projected 6% annual growth of total AUM projected $145 trillion in global AUM by 2025 PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 21#22Success with existing clients translating across client segments we serve 000 ~180% growth in clients since 2018... enfusion ...and expanding into broader client base 352 2018 448 2019 542 2020 635 6/30/2021 ...long-term Hedge Funds Institutional Managers Private Equity Family Offices PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 22#23Robust and flexible solution meets client needs as they evolve... End-to-End Solution Unified portfolio management, order management, execution management, valuation and risk, accounting, reconciliation and portfolio monitoring and reporting systems enfusion Modular, Expand Over Time * o Optionality to plug and play and utilize some or all of our systems as desired to meet their unique needs Flexibility to expand usage into other systems over time PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 23#24...Allowing us to serve clients across the spectrum SELECT CLIENT CASE STUDIES Newly-Founded Hedge Fund SITUATION Launching debut fund Wanted minimal operational overhead yet full capabilities and controls Needed to avoid complex and costly infrastructure ENFUSION SOLUTION AND RESULT enfusion Enfusion deployed within weeks Gave operational leverage of a much bigger firm Operational confidence from investors to raise additional capital Access to institutional-class technology with lower total cost of ownership Client grew by 50% in ~ 1 year by focusing on their performance rather than operations Global Asset Manager SITUATION Searching for a comprehensive end-to-end solution Required solution for multi-strategy quantitative global portfolio Needed to facilitate geographic scale and automate processes Focused on reporting consistency and regulatory compliance ENFUSION SOLUTION AND RESULT Integrated key workflows through single solution Managed all geographies and asset classes traded Enabled entirely new compliance capabilities Client able to accommodate their global and complex strategy in a front-to-back manner, with one solution PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 24#25Existing clients increase utilization as value proposition is experienced and as clients grow Expansion of utilization Adoption of systems D Accounting PMS OEMS Services Analytics •:enfusion User base Investment strategies Business groups Geographies Flexibility allows for rapid progression, and modular expansion into incremental systems and additional desks and users PROPRIETARY AND CONFIDENTIAL ©2021 ENFUSION. ALL RIGHTS RESERVED. 25#26Powerful land and expand model Beginning ARR Global Asset Manager Added Added Upsell OEMS Tech-Powered PMS Services Increased Utilization •: enfusion +2.0x Current ARR Near-term opportunities o Expanded technology-powered services scope o Additional funds and business units Institutional Multi-Manager Platform Beginning ARR Increased User Base Expansion to New Investment. Groups +5.9x Current ARR Near-term opportunities o Meaningful technology-powered services potential o Analytics system Boutique Investment Bank Beginning ARR Added OEMS Expansion to Added Tech-Powered New Business Services Group +2.3x PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. Current ARR Near-term opportunities o International expansion opportunities o Additional OEMS opportunities across business 26#27New bookings from conversions increasing enfusion 2020 41% Conversions 1H'2021 58% Conversions PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 27#28We're investing in continued growth Continue broadening our client base •:enfusion Expand relationships with existing clients Ongoing pace of innovation Geographic expansion (Asia-Pacific, Europe, Latin America) Selectively pursue acquisitions PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 28#29Financial Overview#30Key financial highlights Highly attractive Saas model with combination of scale, growth and profitability enfusion Significant scale Rapid growth and global reach Superior client momentum and experience Recurring revenue with high retention Highly profitable ¹ As of 30-Jun-2021. 2 Represents platform subscriptions and managed services revenue for 2020. 3 International revenue as percent of total for 2020. 4 Excludes involuntary cancellations. 5 Adjusted EBITDA margin is a non-GAAP metric; definitions can be found on slide 38 and reconciliation to nearest GAAP metric can be found on slide 39 $108MM Q2 2021 ARR 635 Global Clients¹ 98% Recurring Revenue² 0.9% 2020 Adjusted Revenue Churn4 73% 2020 Gross Margin PROPRIETARY AND CONFIDENTIAL 37% 2019-2020 ARR Growth 266 New Clients Signed Since Jan-2020¹ 32% International Revenue³ 120% 2020 Net Dollar Retention4 32% 2020 Adj. EBITDA Margin5 ©2021 ENFUSION. ALL RIGHTS RESERVED. 30#31Subscription-based revenue model 98% of revenues from recurring subscription-based offerings¹ Number of users Platform subscription (access to cloud-based solution) Data usage •:enfusion Connectivity + Trading Volume Product coverage Technology-powered services ¹ Represents platform subscriptions and managed services revenue for 2020. Typically one-year term and are cancellable with 30 days' notice Revenues generally recognized ratably over the period of contractually enforceable rights and obligations Client-selected middle and back- office, technology-powered services Revenues recognized monthly PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 31#32A proven track record of growth Recognized Revenue, ARR and Net Dollar Retention Rate provide high visibility and predictability Revenue ($ in millions) 35% YoY Growth $59 2019 enfusion $80 2020 38% YoY Growth $37 1H¹2020 $51 1H'2021 37% YoY Growth $68 ARR ($ in millions) 2019 $93 2020 44% YoY Growth 2 Excludes involuntary cancellations. 3 Six months ended June 30, 2020 and 2021. $75 $108 Adjusted Revenue Churn Rate² Q2 2020 Q2 2021 ¹Includes other non-subscription-based revenues such as data conversion and custom development services. Net Dollar Retention Rate² 0.3% 111% 2019 0.9% 120% 2020 0.9%³ 109% Q2 2020 PROPRIETARY AND CONFIDENTIAL ©2021 ENFUSION. ALL RIGHTS RESERVED. 0.2%³ 122% Q2 2021 32#33Truly global in reach and scale Americas 3 Offices 199 Employees 68% 380 Revenue¹ Clients² Chicago New York São Paulo Dublin London EMEA 2 Offices 45 Employees 11% Revenue¹ 98 Clients² Mumbai Note: Shanghai and Sydney offices expected to be established in 2021. ¹ For 2020. 2 As of 30-Jun-2021. Bangalore Shanghai Hong Kong Singapore Sydney PROPRIETARY AND CONFIDENTIAL Asia-Pacific 4 Offices + 2 to be established 395 Employees 21% 157 Revenue¹ Clients² ©2021 ENFUSION. ALL RIGHTS RESERVED. 33#34Strong profit generation 71.3% 2019 Gross Margin •: enfusion 73.2% 2020 73.6% 1H'2020 73.3% 1H¹2021 Adj. EBITDA¹,2 ($ in millions) $21.1 2019 $25.3 2020 $12.8 1H¹2020 $13.3 1H'2021 Adjusted EBITDA and Adj. EBITDA margin are non-GAAP metrics; definitions can be found on slide 38 and reconciliation to nearest GAAP metric can be found on slide 39 2 Adjusted EBITDA represents earnings before interest, taxes, depreciation and amortization, adjusted to exclude certain items of a non-recurring or unusual nature. 35.8% 2019 Adj. EBITDA Margin¹ PROPRIETARY AND CONFIDENTIAL 31.8% 2020 34.6% 1H'2020 Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 26.3% 1H¹2021 34#35Long-term targets ARR growth Revenue growth Gross margin Adj. EBITDA margin •:enfusion 2020 37% 35% 73% 32% Long-term targets 30 - 35% 30 - 35% 77.5 - 80% 30-35% PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 35#36Investment Highlights One end-to-end solution, one single dataset and source of truth Rapid pace of delivery and evolution enfusion SaaS model with combination of scale, growth and profitability Flexible and tailored solutions Client-centric partnerships Technology- powered services PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 36#37Appendix#38Definitions Annual Recurring Revenue We calculate Annual Recurring Revenue, or ARR, by annualizing platform subscriptions and managed services revenues recognized in the last month of the measurement period. We believe ARR provides important information about our future revenue potential, our ability to acquire new clients and our ability to maintain and expand our relationship with existing clients. ARR is included in a set of metrics we calculate monthly to review with management as well as periodically with our board of directors. Net Dollar Retention Rate We calculate Net Dollar Retention Rate as of a period end by starting with the ARR for all clients as of twelve months prior to such period end, or Prior Period ARR. We then calculate the ARR from those same clients as of the current period end, or Current Period ARR. Current Period ARR includes expansion within existing clients inclusive of contraction and voluntary attrition, but excludes involuntary cancellations. We define involuntary cancellations as accounts that were cancelled due to the client no longer being in business. We identify involuntary cancellations to be excluded from our Net Dollar Retention Rate calculation based on representations made by the client at the time of cancellation. Our Net Dollar Retention Rate is equal to the Current Period ARR divided by the Prior Period ARR. We believe Net Dollar Retention Rate is an important metric because, in addition to providing a measure of retention, it indicates our ability to grow revenues within existing client accounts. Revenue Churn Rate and Adjusted Revenue Churn Rate We calculate our Revenue Churn Rate by measuring the revenue contribution associated with clients that cancel all of their product and service agreements with us over the measurement year. This cancelled revenue contribution for each such client is calculated as the revenues recognized for such clients over the trailing 12 months prior to the month in which the client cancelled its product and service agreements. We then divide this cancelled revenue contribution by the ARR calculated for the prior period to calculate our Revenue Churn Rate. We also calculate an Adjusted Revenue Churn Rate which excludes all involuntary cancellations as described above. We believe our Revenue Churn Rate and Adjusted Revenue Churn Rate are important metrics because they indicate our ability to retain our existing client base. •*:enfusion Adjusted EBITDA and Adjusted EBITDA Margin Adjusted EBITDA and Adjusted EBITDA Margin are supplemental measures of our operating performance that are neither required by, nor presented in accordance with, U.S. GAAP, and our calculations thereof may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA represents earnings before interest, taxes, depreciation and amortization, adjusted to exclude certain items of a non- recurring or unusual nature, including payments to repurchase management incentive awards from our Change in Control Bonus Plan and initial public offering costs. Adjusted EBITDA Margin represents Adjusted EBITDA divided by total net revenues. These measures are presented because they are the primary measures used by management to evaluate our financial performance and for forecasting purposes. This non-GAAP financial information is useful to investors because it eliminates certain items that affect period-over-period comparability and provides consistency with past financial performance and additional information about underlying results and trends by excluding certain items that may not be indicative of our business, results of operations or outlook. Additionally, we believe that these and similar measures are widely used by securities analysts, investors and other interested parties as a means of evaluating a company's operating performance. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures, are not measurements of our financial performance under U.S. GAAP and should not be considered as alternatives to net income, income from operations or any other performance measures determined in accordance with U.S. GAAP. Adjusted EBITDA and Adjusted EBITDA Margin have limitations as analytical tools and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP, but rather as supplemental information to our business results. Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similarly titled measures of other companies due to potential differences in methods of calculation and items or events being adjusted. In addition, other companies may use different measures to evaluate their performance, all of which could reduce the usefulness of Adjusted EBITDA and Adjusted EBITDA Margin as tools for comparison. PROPRIETARY AND CONFIDENTIAL Ⓒ2021 ENFUSION. ALL RIGHTS RESERVED. 38#39Reconciliations ($ in thousands) Net income Adjustments: Interest expense Income tax Depreciation and amortization Payments for management incentive awards Adjusted EBITDA Net income margin Adjusted EBITDA margin enfusion $ Year Ended December 31, 2020 4,061 1,662 433 2,291 16,860 25,307 5.1% 31.8% $ 2019 12,656 724 486 1,157 6,086 21,109 21.4% 35.8% $ $ Six Months Ended June 30, 2021 8,360 2,802 551 1,672 13,385 16.5% 26.3% $ $ PROPRIETARY AND CONFIDENTIAL ©2021 ENFUSION. ALL RIGHTS RESERVED. 2020 10,667 728 429 1,011 12,835 28.7% 34.6% 39