Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 161

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 161
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” means the Investor and its Affiliates (as defined in the Investor Agreement).

“” means, as of any time, the number of shares of Common Stock outstanding, together with all shares of
Common Stock that the Company would be required to issue pursuant to any then-outstanding shares of Convertible Preferred Stock and any vested in-the-money options,
warrants or other securities or rights convertible into or exercisable or exchangeable for (whether directly or following conversion into or exercise or exchange for other options, warrants or other securities or rights) shares of Common Stock.

“” means any court, agency, authority, department, or other instrumentality of any government or
country or of any national, federal, state, provincial, regional, county, city or other political subdivision of any such government or country or any supranational organization of which any such country is a member.

E-12

“” means that certain Investor Agreement, dated as of
December 13, 2024, by and between the Company and the investor named therein and its successors and permitted assigns (the “”), as such agreement is amended from time to time.

“” means shares of Common Stock and any other class or series of shares in the capital of the Company that ranks
junior to the Convertible Preferred Stock either (or both) as to the payment of dividends and/or as to the distribution of assets on any liquidation, dissolution or winding up of the Company and/or any Deemed Liquidation Event and/or other
Liquidation Trigger Event.

“” means a voluntary or involuntary winding up, liquidation or
dissolution of the Company or a Deemed Liquidation Event.

“” means any of the following events:

(i) any suspension of, or limitation imposed on, trading of Common Stock by the Relevant Exchange during any period or
periods aggregating one half-hour or longer during the regular trading session on the relevant day, whether by reason of movements in price exceeding limits permitted by the Relevant Exchange as to securities generally, or otherwise relating to
Common Stock or options contracts relating to Common Stock on the Relevant Exchange; or

(ii) any event that disrupts or
impairs (as determined by the Company in its reasonable discretion) the ability of market participants during any period or periods aggregating one half-hour or longer during the regular trading session on the relevant day in general to effect
transactions in, or obtain market values for, shares of Common Stock on the Relevant Exchange or to effect transactions in, or obtain market values for