Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 44

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 44
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 United States.

In light of these factors, there can be
no assurance that our effective tax rate will not increase in future periods, including as a result of and following the Transaction. Moreover, U.S. tax laws significantly limit our ability to redomicile outside of the United States once the
Transaction has occurred. Accordingly, if our effective tax rate were to increase as a result of the Transaction, our business and financial performance could be adversely affected.

The Transaction will result in additional direct and indirect costs, even if it is not consummated.

We will incur additional costs and expenses in connection with and as a result of the Transaction. We expect to incur attorneys’ fees,
accountants’ fees, tax advisory fees, filing and other regulatory fees, mailing expenses, proxy solicitation fees and financial printing expenses in connection with the Transaction, even if the Transaction is not approved or consummated. These
combined factors could adversely affect the business, operating profit and overall financial condition of Penguin Solutions Delaware. The Transaction may also negatively affect us by diverting attention of our management and employees from our
operating business during the period of implementation and by increasing certain other administrative costs and expenses.

The Completion Date of the Transaction is subject to change.

We currently expect the Completion Date to occur after the closing of trading of the Penguin
Solutions Cayman common shares on Nasdaq on . The exact date and timing of the Completion Date will depend on factors such as any postponement or adjournment of the hearing before the Cayman Court regarding sanction of the
Scheme of Arrangement.

We may choose to defer or abandon the Transaction.

While we currently expect the Completion Date to take place soon after the Sanction Hearing on , 2025, the Effective Time
and the Completion Date cannot occur until on or after such time as the Sanction Order granted by the Cayman Court is delivered to the Cayman Islands Registrar of Companies.

If it is necessary to adjourn the Scheme Meeting required to approve the meeting proposal in connection with the Transaction described in this
proxy statement, for any reason including any circumstances outside of our control, there may be a delay in obtaining the Sanction Order from the Cayman Court and thereby the consummation of the Transaction may be deferred until such time.

In addition, the Penguin Solutions Cayman Board may seek to adjourn the application to the Cayman Court to sanction the Scheme of Arrangement
or may abandon the Transaction before the Sanction Hearing for

25

economic, strategic or other reasons, including if adverse