Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 103

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 103
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 for a vote of or consent by holders of Penguin Solutions Cayman ordinary shares.

If you hold your Penguin Solutions Cayman shares through a broker or nominee and you do not instruct your broker or nominee on how to vote
your Penguin Solutions Cayman shares prior to the Scheme Meeting, your broker or nominee, or depository through which your broker or nominee holds your Penguin Solutions Cayman shares, will not be able to vote at the Scheme Meeting or affect the
outcome of the vote, which is based on shares voting. However, if your broker or nominee attends or appoints a proxy to attend the Scheme Meeting (either in person or via live webcast), your Penguin Solutions Cayman shares will be counted as present
for the purposes of the relevant quorum requirement.

Intentions of Directors

Our directors have indicated that they intend to vote their Penguin Solutions Cayman shares “FOR” the Scheme of Arrangement Proposal
set out in this proxy statement. At the Voting Record Time, our current directors and their affiliates beneficially owned 821,957 Penguin Solutions Cayman ordinary shares and 200,000 Penguin Solutions Cayman convertible preferred shares, which is
approximately 1.6% in the aggregate of the outstanding Penguin Solutions Cayman ordinary shares and 100% in the aggregate of the outstanding Penguin Solutions Cayman preferred shares.

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Proxies

A proxy card for the Scheme Meeting is being sent to each Penguin Solutions Cayman registered shareholder as of the Voting Record Time.

The accompanying proxies are being solicited on behalf of the Penguin Solutions Cayman Board. We have hired MacKenzie as our proxy solicitor
to assist in the distribution of proxy materials and the solicitation of proxies for an approximate fee of $17,500, plus fees for additional services, if needed. Proxies may be solicited on behalf of the Penguin Solutions Cayman Board by mail, and
in person and by telephone. Penguin Solutions Cayman will bear the cost of soliciting proxies. To the extent necessary in order to ensure sufficient representation at the Scheme Meeting, the directors, officers and employees of Penguin Solutions
Cayman may also solicit proxies by personal interview, mail, email, telephone or other means of communication. These persons will not be paid additional remuneration for their efforts. The extent to which this will be necessary depends upon how
promptly proxies are returned. We urge you to send in your proxy card without delay.

If you are a registered holder of Penguin
Solutions Cayman shares as of the Voting Record Time, your Penguin