Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 108

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 108
---
 unusual items; and related tax effects and other tax adjustments. While amortization of acquisition-related intangible assets is excluded, the revenues from acquired companies are reflected in the Company’s non-GAAP measures and these intangible assets contribute to revenue generation. Our management believes the presentation of operating results that exclude certain items provides useful supplemental information to investors and facilitates the analysis of the Company’s core operating results and comparison of operating results across reporting periods.

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP, as they exclude important information about Penguin Solutions’ financial results, as noted above. The presentation of these adjusted amounts varies from amounts presented in accordance with GAAP and therefore may not be comparable to amounts reported by other companies. Investors are encouraged to review the “Reconciliation of GAAP to Non-GAAP Financial Measures” tables below.

<div align='center'>A-1</div>

#### Penguin Solutions, Inc.

### Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except percentages and per share amounts)

|                                                                                                                                                                                        |     | Fiscal Year Ended | August 29, 
       2025 |   |     |   | August 30, 
       2024 |   |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:------------------|-----------:|:--|:----|:--|-----------:|:--|
| GAAP operating income                                                                                                                                                                  |     | $                 |     58,135 |   |     | $ |     18,295 |   |
| Stock-based compensation expense                                                                                                                                                       |     |                   |     41,176 |   |     |   |     43,160 |   |
| Amortization of acquisition-related intangibles                                                                                                                                        |     |                   |     34,838 |   |     |   |     39,272 |   |
| Cost of sales-related restructuring                                                                                                                                                    |     |                   |        746 |   |     |   |      2,136 |   |
| Diligence, acquisition and integration expense                                                                                                                                         |     |                   |      1,829 |   |     |   |      8,772 |   |
| Redomiciliation costs(1)                                                                                                                                                               |     |                   |     10,038 |   |     |   |        470 |   |
| Impairment of goodwill                                                                                                                                                                 |     |                   |     16,063