Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 3

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 3
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 and restated bylaws as they will be in effect upon the completion of the scheme of arrangement. These differences are discussed under the
sections titled “Description of Penguin Solutions Delaware Capital Stock” and “Comparison of Rights of Cayman Islands Shareholders and Delaware Stockholders”.

Just as is the case today with your Penguin Solutions Cayman ordinary shares, upon completion of the transaction, the common stock of Penguin
Solutions Delaware, our ultimate parent company, will be listed on Nasdaq under the ticker symbol “PENG” and will be registered with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act
of 1934, as amended, and be subject to the same SEC reporting requirements, the mandates of the Sarbanes-Oxley Act of 2002 and the applicable corporate governance rules of Nasdaq. Similarly, the convertible preferred shares of Penguin Solutions
Delaware will not be listed for trading upon completion of the transaction, as is the case with the Penguin Solutions Cayman convertible preferred shares. We will continue to report our financial results in U.S. dollars and under U.S. generally
accepted accounting principles. Penguin Solutions Delaware will in the ordinary course make available customary reports filed with the SEC, consistent with our established current practices.

The accompanying proxy statement provides you with detailed information regarding the transactions to be effected pursuant to the scheme of
arrangement, and certain related transactions. As such, the proxy statement provides important information about the Scheme Meeting and the proposal described above. We encourage you

to read the entire document carefully. You should carefully read and consider the “ Risk Factors” beginning on page 23 of the accompanying proxy statement for a discussion of potential risks before voting. You are entitled to vote by attending the Scheme Meeting (including via live webcast) or by appointing a proxy. It is not necessary that the proxy appointed by you be a current shareholder of Penguin Solutions Cayman. Your vote is very important. The Penguin Solutions Cayman Board has unanimously determined that the proposal above is advisable and in the best interests of Penguin Solutions Cayman and recommends that you vote “FOR” the above proposal. In order to participate in the Scheme Meeting online, go to www.virtualshareholdermeeting.com/PENG2025SM. Registered shareholders as of the Voting Record Time must use the control number found on their proxy card sent in respect of the Scheme Meeting. If you hold your shares in “street name”, you may not attend the Scheme Meeting or vote your Penguin Solutions Cayman ordinary shares at the Scheme