Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 111

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 111
---
 Financial Center, 1 Congress Street, Suite 1, Boston, MA 02114.     |

| (6) | Includes 3,133,050 Penguin Solutions Cayman ordinary shares over which Crosslink Capital, Inc.                                                                                                                                        
 (“Crosslink”) has shared voting and dispositive power. The information presented for Crosslink is based on a Schedule 13G filed with the SEC on February 14, 2025 with respect to Penguin Solutions Cayman ordinary shares held as of 
 December 31, 2024. The address for Crosslink is 2180 Sand Hill Road, Suite 200, Menlo Park, CA 94025.                                                                                                                                 |

| (7) | Includes 200,000 Penguin Solutions Cayman convertible preferred shares directly held by Astra AI Infra LLC                                                                                                                           
 (“Astra”), a special purpose vehicle established by SKT to invest in Penguin Solutions Cayman. Astra has sole voting and dispositive power with respect to the Penguin Solutions Cayman convertible preferred shares, subject to the 
 Investor Agreement (as defined above). SKT may be deemed to have sole voting and                                                                                                                                                     |

98

| (8) | Consists of (i) 621,819 Penguin Solutions Cayman ordinary shares held of record by Mr. Adams, (ii) 29,640                                                                                                                                       
 Penguin Solutions Cayman ordinary shares held through the Adams Family Trust, (iii) 156,250 Penguin Solutions Cayman ordinary shares issuable pursuant to outstanding share options held by Mr. Adams that are currently exercisable or will be 
 exercisable within 60 days of March 17, 2025, and (iv) 22,481 Penguin Solutions Cayman ordinary shares issuable pursuant to outstanding RSUs held by Mr. Adams that are scheduled to be released within 60 days of March 17, 2025.              |

| (9) | Consists of (i) 11,871 Penguin Solutions Cayman ordinary shares held of record by Ms. Herscher and                                                                           
 (ii) 4,584 Penguin Solutions Cayman ordinary shares held through the 2001 Herscher Family Trust U/A/D 6/14/2001, for which Ms. Herscher and her spouse serve as co-trustees. |

| (10) | Consists of 44,098 Penguin Solutions Cayman ordinary shares held of record by Mr. Ingram. |

| (11) | Consists of 26,986 Penguin Solutions Cayman ordinary shares held of record by