Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 122

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 122
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 or as soon as practicable thereafter as it may be heard.

Penguin Solutions Cayman shareholders who voted at the Scheme Meeting or gave instructions to their broker or nominee to vote at the Scheme
Meeting (as applicable) have the right to attend the Sanction Hearing and to appear in person or be represented by counsel to support or oppose the sanction of the Scheme of Arrangement. If you are a Penguin Solutions Cayman shareholder who wishes
to appear in person or by counsel at the Sanction Hearing and present evidence or arguments in support of or opposition to the Scheme of Arrangement, we expect that the Cayman Court will require that you give notice of your intention to do so to
Penguin Solutions Cayman’s Cayman Islands legal advisers, Walkers (Cayman) LLP, at 190 Elgin Avenue, George Town, Grand Cayman KY1-9001, Cayman Islands, at least three days before the Sanction Hearing.

Dated: , 2025

PENGUIN SOLUTIONS, INC.

Registered Office:

Walkers Corporate Limited

190 Elgin Avenue

George Town

Grand Cayman KY1-9008 Cayman Islands

A-4

ANNEX B IN THE GRAND COURT OF THE CAYMAN ISLANDS FINANCIAL SERVICES DIVISION

| CAUSE NO: FSD |     | of 2025 (   ) |

IN THE MATTER OF SECTION 86 OF THE COMPANIES ACT (2025 REVISION) AND IN THE MATTER OF PENGUIN SOLUTIONS, INC. SCHEME OF ARRANGEMENT (under Section 86 of the Cayman Islands Companies Act (2025 Revision)) BETWEEN PENGUIN SOLUTIONS, INC. (an exempted company incorporated with limited liability and registered under the laws of the Cayman Islands with registration number 255221) AND THE SCHEME SHAREHOLDERS (as hereinafter defined) B-1

PART 1: PRELIMINARY

| 1. | DEFINITIONS |

| 1.1 | In this Scheme, unless inconsistent with the subject or context, the following expressions shall bear the 
 meanings respectively set out opposite them:                                                              |

| “$”, “US$” or “USD”                     |     | the lawful currency of the United States of America;                                                                                                                                                                                                    |
| “Cayman Companies Act”                  |     | the Companies Act (2025 Revision) of the Cayman Islands, as amended, modified or re