Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 18

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 18
---
 exercise its discretion to sanction the Scheme of Arrangement, the Cayman Court will determine, amongst other things, whether the Scheme of Arrangement is fair to the shareholders. If the relevant approvals are obtained, all Penguin Solutions Cayman shareholders will be bound by the terms of the Scheme of Arrangement when it becomes effective, regardless of whether or how they voted (including any Penguin Solutions Cayman shareholder who did not vote to approve the Scheme of Arrangement Proposal or who voted against the Scheme of Arrangement Proposal) thereby providing certainty and equality of treatment for Penguin Solutions Cayman shareholders. The implementation of the Scheme of Arrangement must satisfy certain legal requirements for the protection of Penguin Solutions Cayman shareholders and creditors and therefore requires the approval of the Cayman Court.

| 8. Q: | Am I required to vote at the Scheme Meeting? |

| A: | It is important that as many shareholders as of the Voting Record Time as possible cast their votes at                                                                                                                                      
 the Scheme Meeting. In particular, it is important that as many votes as possible are cast at the Scheme Meeting so as to demonstrate to the Cayman Court that there is a fair representation of shareholders as of the Voting Record Time. |

The Penguin Solutions Cayman Board believes that the Transaction is advisable and urges you to read this proxy statement carefully and, if eligible, to vote in favor of the Scheme of Arrangement Proposal.

| 9. Q: | How do I vote if I am a registered shareholder? |

| A: | Whether or not you plan to attend the Scheme Meeting in person (including via live webcast), we urge you                                                                                                                                                 
 to vote your Penguin Solutions Cayman shares by way of proxy. All Penguin Solutions Cayman shares represented by valid proxy cards that we receive through this solicitation and that are not revoked will be voted in accordance with your instructions 
 as noted on your proxy card.                                                                                                                                                                                                                             |

We have enclosed a proxy card in respect of the Scheme Meeting. By submitting your proxy card, you are legally authorizing another person to vote your Penguin Solutions Cayman shares by proxy in accordance with your instructions. You may appoint the chairperson of the Scheme Meeting or any other person as your proxy and it is not a requirement that this person be a current shareholder of Penguin Solutions Cayman. The enclosed proxy card designates Mark Adams (who will act as chairperson of the Scheme Meeting) and Nate Olmstead, or either of them, to vote your Penguin Solutions Cayman shares in accordance with the voting instructions you indicate in