Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 162

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 162
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 (other than the Convertible Preferred
Stock) that both ranks equally with the Convertible Preferred Stock in the payment of dividends and ranks equally with the Convertible Preferred Stock in the distribution of assets on any liquidation, dissolution or winding up of the Company and any
Deemed Liquidation Event (without regard to whether dividends accrue on a cumulative or non-cumulative basis).

“” means the NASDAQ Stock Market or the principal U.S. national or regional securities exchange on which
shares of Common Stock are listed or quoted, or if shares of Common Stock are not listed or quoted on any such exchange, “Pink Sheets” or similar U.S.
over-the-counter organization on which shares of Common Stock are listed or quoted in U.S. dollars.

“” means, to the extent applicable and required to permit the conversion of the Convertible Preferred
Stock into shares of Common Stock and for the applicable holder to own such shares of Common Stock without the Company or such holder (or any direct or indirect affiliate or parent entity of such holder) being in violation of applicable law, rule or
regulation, any and all (x) necessary approvals of stockholders of the Company and (y) necessary approvals and authorizations of, filings and registrations with and notifications to, any Governmental Authority or stock exchange, and
expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (or any similar laws of any jurisdiction), or any successor statute, and the rules and regulations promulgated
thereunder.

“” means a day other than a Saturday or Sunday on which the Relevant Exchange is scheduled to be
open for business and on which there has not occurred a Market Disruption Event.

***************

E-13

IN WITNESS WHEREOF, the Company has caused this Certificate of Designation to be executed on behalf of the Company by the undersigned authorized officer this day of, 2025.

| PENGUIN SOLUTIONS, INC. |     |        |
| By:                     |     |        |
|                         |     | Name:  |
|                         |     | Title: |

[ Signature Page to Certificate of Designation]

ANNEX F

Amended and Restated Bylaws of

Penguin Solutions, Inc.

(a Delaware corporation)

as of [ ], 2025

F-1

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| Article I - Corporate Offices