Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 121

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 121
---
 you contact your broker or nominee directly for more information on the procedures by which your Penguin
Solutions Cayman ordinary shares can be voted. Your broker or nominee will not be able to vote your Penguin Solutions Cayman ordinary shares unless it receives appropriate instructions from you.

In addition, you may not vote your Penguin Solutions Cayman ordinary shares held beneficially through a broker or nominee in person (including
via live webcast) at the Scheme Meeting unless you obtain an “instrument of proxy” or “legal proxy” from your broker or nominee that holds your Penguin Solutions Cayman ordinary shares. You will need to follow the instructions of
your broker or nominee in order to obtain such an “instrument of proxy” or “legal proxy.” If you hold your shares in “street name” and plan to attend the Scheme Meeting in person and vote your “street name”
shares at the Scheme Meeting, you should request such an “instrument of proxy” or “legal proxy” from your broker, bank, or other holder of record and bring it with you to the Scheme Meeting along with proof of identification. If
you plan to attend the Scheme Meeting online via live webcast and vote your “street name” shares at the Scheme Meeting, you must use the control number found on your voting instruction form sent in respect of the Scheme Meeting in order to
obtain a “legal proxy” and access the Scheme Meeting.

Each holder of Penguin Solutions Cayman shares as at the Voting Record
Time may vote or appoint a proxy to vote either “FOR” or “AGAINST” the Scheme of Arrangement, but not both. You may not split your vote and any split votes received from shareholders will be disregarded in their entirety for the
purpose of the Scheme Meeting. Accordingly, shareholders should note that appointing more than one proxy will not result in that shareholder being counted more than once for the purposes of determining that the Scheme of Arrangement has been
approved by at least 75% in nominal value of the ordinary shares and convertible preferred shares voted at the Scheme Meeting.

A-3

NOTICE IS FURTHER GIVEN THATif approved at the Scheme Meeting, the Scheme of
Arrangement will be subject to a subsequent application seeking the sanction of the Cayman Court (the “Sanction Hearing”), which is listed to be heard at the Law Courts, George Town, Grand Cayman at a.m.
(Pacific Time in the United States) (being [a.m. / p.m.] Cayman Islands Time) on , 2025,