Enfusion : William Blair 44th Annual Growth Stock Presentation

William Blair 44th Annual

Growth Stock Conference

June 2024

Enfusion

Oleg Movchan, Chief Executive Officer

Neal Pawar, Chief Operating Officer

Forward-Looking Statements

Statements we make in this presentation may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), including expectations regarding future financial performance. These forward-looking statements are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "could," "will," and variations of such words

or similar expressions, and include, among other items, estimates of future business and financial performance and the expected drivers thereof. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and are making this statement for purposes of complying with those safe harbor provisions.

These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although

we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control. More information on these risks and other potential factors that could affect our business, financial performance and results

of operations can be found in our filings with the SEC, including in the "Risk Factors" and "Management's Discussion and

Analysis of Financial Condition and Results of Operations" sections of our most recently filed periodic reports on Form 10-K and Form 10-Q. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

PROPRIETARY

©2024 ENFUSION. ALL RIGHTS RESERVED.

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PROPRIETARY

©2024 ENFUSION. ALL RIGHTS RESERVED.

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Enfusion's Innovation Timeline

1997

2006

2009

2014

2015

2016

2017

Enfusion launched in Chicago by three industry veterans

2018

2019

2020

2021

2022

2023

Expansion of	Oleg Movchan
APAC and EMEA	Appointed Chief
teams	Executive Officer

Business & Product Launches

Capital Structure Evolution

Geographic

Expansion

Portfolio Accounting Management System

system launched launched (SaaS-Native)

New York

office opened

Order/Execution	Managed
Management	Services
System launched	launched

Morgan FTV Capital's

Stanley's minority minority equity equity investment investment

London &	Hong Kong
Dublin
office
offices
opened
opened

Analytics				Web and
			Mobile
launched
			launched
		Hillhouse's
		ICONIQ	ENFN lists
		minority	Growth's
		equity	minority equity	on NYSE
		investment	investment
Mumbai	Singapore		Bangalore &
office	office		Sydney offices
opened	opened			opened

Portfolio

Workbench

module

launched

865

Total Clients

279

353

818

734

542 448

3 7

93

150

218

Data as of December 31, 2023

PROPRIETARY

©2024 ENFUSION. ALL RIGHTS RESERVED.

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The Perfect Storm: Why Enfusion is Positioned to Win

Macro Market Trends

	SaaS Eating	Electronification	Active Management
Enfusion'sHistory	Enterprise Models	of Markets	Fee Compression
Built SaaS-Native from day one
Trailblazing technology	Clients' Race to	Clients' Time-to-	Clients' Reduced
foundational to future growth
Cloud & Scalability	Market Pressures	Tech Budgets

PROPRIETARY

©2024 ENFUSION. ALL RIGHTS RESERVED.

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Enfusion is a Unique Collaboration Platform

Our SaaS architecture & product roadmap expand collaboration for

all related workflows to more	Risk
personas across all functional areas	Trading

This architecture enables a "single source of truth" data framework

Compliance

Portfolio

Managers

Research	Investor
Relations

Business

Development

Enfusion becomes an extension of a client's team

since all parties - Enfusion and the client - use the same platform to collaborate

Operations

Control

PROPRIETARY

©2024 ENFUSION. ALL RIGHTS RESERVED.

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Enormous Upside Potential: $25B TAM

It is our time to disrupt the traditional asset management segment the same way we disrupted the alternatives segment

Equity
Hedge	Non-Equity
Funds	Hedge Funds

$1.2B $1.3B

Private Equity &

Private Credit Firms

$7.2B

$25B

Traditional

Asset Managers

& Asset Owners

$15.3B

The above figures are based on Enfusion's internal estimates incorporating data from HFM/With Intelligence, Preqin, IPREO and other media sources

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How SaaS-Native Lowers Client's Total Cost of Ownership (TCO)

SaaS-Nativeall-in TCO can be ~⅓ the price compared to a legacy, on-prem provider

Client's	100%	33%
Total Cost
	Support &	Support &
	Maintenance	Maintenance
	+	+
	Hardware	Hardware
	& Hosting
	& Hosting

++

ALL-In TCO for Clients

License	License
Fees	Fees

Cost for the client

Excluded from client TCO

On-Prem/	SaaS-Native
Legacy Platform	Platform
	PROPRIETARY ©2024 ENFUSION. ALL RIGHTS RESERVED.	8

Enfusion's Core Designed for Scale, Flexibility & Cost

Enables Enfusion to rapidly onboard and expand client footprint

		Single Investment
Enfusion's	Multi-tenant	Book of Record
SaaS
Core		No more internal
	Lower TCO, rapid	reconciliations or
What it brings	onboarding &	inconsistencies
to the client	predictable costs
		Ability to land
What it brings	Recurring revenue	and expand
with SaaS margins
to Enfusion

	Client
Agile and	engagement
customizable
	Great customer
Weekly releases for	experience
all clients, fully tested,
strong API support
	Retention,
Speed to market	expansion
and quicker ROI

PROPRIETARY

©2024 ENFUSION. ALL RIGHTS RESERVED.

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Expanded Functionality Allowed Enfusion to Move Upstream

Enfusion continues to win conversions with higher ACV clients as it adds more features

	1
5clients	Traditional
Asset Managers
& Asset Owners
generating	4
$500K+ ARR
	Non-Equity
	Hedge Funds

22 8

Non-Equity	Traditional	51clients
Hedge Funds	Asset Managers
	& Asset Owners
		generating
	21	$500K+ ARR

Equity Hedge

Funds

2018

2023

PROPRIETARY

©2024 ENFUSION. ALL RIGHTS RESERVED.

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