Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 21

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 21
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| 10. Q: | How can I vote if I hold my shares in “street name”? |

| A: | For shareholders who hold their shares in “street name” beneficially through a broker or                                                                                                                                                         
 nominee, we have enclosed a voting instruction form for the Scheme Meeting. By submitting your voting instruction form, you are instructing your broker or nominee to vote your Penguin Solutions Cayman ordinary shares in accordance with your 
 instructions.                                                                                                                                                                                                                                    |

Under Nasdaq rules, brokers and nominees who hold Penguin Solutions Cayman ordinary shares on behalf of customers will not have the authority to vote without direction on the Scheme of Arrangement Proposal. If you hold your Penguin Solutions Cayman ordinary shares through a broker or nominee and you do not instruct your broker or nominee on how to vote your Penguin Solutions Cayman ordinary shares prior to the Scheme Meeting, your broker or nominee, or the depository through which your broker holds your shares, will not be able to vote your Penguin Solutions 8

Cayman ordinary shares at the Scheme Meeting or affect the outcome of the vote, which is based on shares present and voting. Under Nasdaq rules, brokers and nominees who hold shares on behalf of customers have the authority to vote on “routine” proposals when they have not received instructions from beneficial owners, but are precluded from exercising their voting discretion with respect to proposals for “non-routine”matters. We believe that the Scheme of Arrangement Proposal is a proposal for a non-routinematter. As a result, there may be broker “non-votes”with respect to the Scheme of Arrangement Proposal. You may submit your voting instruction form by mail or by following the internet or touch-tonevoting instructions on the voting instruction form. In order for your voting instructions form to be validly submitted and for your Penguin Solutions Cayman ordinary shares to be voted at the Scheme Meeting in accordance with your voting instruction form, your broker or nominee must receive your voting instruction form as promptly as possible and not later than 8:59 p.m. (Pacific Time) on , 2025. Please note that holders of Penguin Solutions Cayman ordinary shares through brokers or nominees are required to submit their voting instruction form to their applicable broker or nominee prior to the deadline applicable to registered holders of Penguin Solutions Cayman ordinary shares and such holders should follow any separate instructions that are provided by their applicable broker or nominee. You should contact your broker or nominee directly for more information on these procedures. If you hold Penguin Solutions Cayman ordinary shares