Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 167

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 167
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 beneficial ownership at any time in the future, (C) the date
or dates such shares were acquired, (D) the investment intent of such acquisition and (E) any pledge by such Proposing Person with respect to any of such shares (the disclosures to be made pursuant to the foregoing clauses (A) through
(E) are referred to as “”);

(ii) As to each Proposing Person,

(A) the material terms and conditions of any “derivative security” (as such term is defined in Rule 16a-1(c) under the Exchange Act) that constitutes a “call equivalent position” (as such term is defined

F-5

in Rule 16a-1(b) under the Exchange Act) or a “put equivalent position” (as such term is defined in Rule
16a-1(h) under the Exchange Act) or other derivative or synthetic arrangement in respect of any class or series of capital stock of the Corporation (“”) that is,
directly or indirectly, held or maintained by, held for the benefit of, or involving such Proposing Person, including, without limitation:

(1) any option, warrant, convertible security, stock appreciation right, future or similar right with an exercise or
conversion privilege or a settlement payment or mechanism at a price related to any class or series of capital stock of the Corporation or with a value derived in whole or in part from the value of any class or series of capital stock of the
Corporation,

(2) any derivative or synthetic arrangement having the characteristics of a long position or a short
position in any class or series of capital stock of the Corporation, including, without limitation, a stock loan transaction, a stock borrow transaction, or a share repurchase transaction, or

(3) any contract, derivative, swap or other transaction or series of transactions designed to (x) produce economic
benefits and risks that correspond substantially to the ownership of any class or series of capital stock of the Corporation, (y) mitigate any loss relating to, reduce the economic risk (of ownership or otherwise) of, or manage the risk of
share price decrease in, any class or series of capital stock of the Corporation, or (z) increase or decrease the voting power in respect of any class or series of capital stock of the Corporation of such Proposing Person, including, without
limitation, due to the fact that the value of such contract, derivative, swap or other transaction or series of transactions is determined by reference to the