Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 95

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 95
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 restated bylaws because Delaware law would not permit such replication, and certain provisions were included in the Penguin
Solutions Delaware amended and restated certificate of incorporation, Certificate of Designation and amended and restated bylaws although they were not in the Penguin Solutions Cayman Articles or Penguin Solutions Cayman Certificate of Designation
because Delaware law requires such provisions to be included in the certificate of incorporation and bylaws of a Delaware corporation or to provide for provisions customarily provided in respect of publicly traded Delaware corporations), or
(ii) that are necessary in order to preserve the current rights of shareholders of Penguin Solutions Cayman following the Scheme of Arrangement.

The following discussion is a summary of material changes in your rights resulting from the Scheme of Arrangement. This summary does not cover
all of the differences between Cayman Islands law and Delaware law affecting companies and their shareholders or stockholders (as applicable) or all the differences between the Penguin Solutions Cayman Articles and Penguin Solutions Cayman
Certificate of Designation, on the one hand, and Penguin Solutions Delaware’s amended and restated certificate of incorporation, Certificate of Designation and amended and restated bylaws, on the other hand. This summary is subject to and
qualified in its entirety by the complete text of the relevant provisions of the Cayman Companies Act, the DGCL, the Penguin Solutions Cayman Articles, the Penguin Solutions Cayman Certificate of Designation and Penguin Solutions Delaware’s
amended and restated certificate of incorporation, Certificate of Designation and amended and restated bylaws as they will be in effect after the Scheme of Arrangement.

The forms of Penguin Solutions Delaware’s amended and restated certificate of incorporation, Certificate of Designation and amended and
restated bylaws as they will be in effect immediately following the Scheme of Arrangement becoming effective are attached as Annex D, E and F, respectively, to this proxy statement and are (or will be) available in electronic form for inspection on
Penguin Solutions Cayman’s website at https://www.penguinsolutions.com/ until the conclusion of the Scheme Meeting. Except where otherwise indicated, the discussion of Penguin Solutions Delaware below reflects Penguin Solutions Delaware’s
amended and restated certificate of incorporation, Certificate of Designation and amended and restated bylaws as those documents are expected to be in effect immediately following the Scheme of Arrangement becoming effective.

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| Provisions               |     | Penguin Solutions Delaware                                                                                                                                                                                                                              |     | Penguin Solutions Cayman                                                                                                                                                                                                                               |
| Authorized Capital Stock 
 or Share Capital         |