Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 91

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 91
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 governed by the internal affairs doctrine. Although the Penguin Solutions Delaware amended and restated certificate of incorporation will contain the choice of forum provision described above, it is possible that a court could find that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable. Limitations of Liability and Indemnification Matters Penguin Solutions Delaware’s amended and restated certificate of incorporation will provide that Penguin Solutions Delaware shall have the power to provide rights to indemnification and advancement of expenses to, among others, its current and former directors and officers. The DGCL provides that the certificate of incorporation may not eliminate or limit the liability of:

| • |     | a director or officer for any breach of the director or officer’s duty of loyalty to Penguin Solutions 
 Delaware or its stockholders;                                                                          |

| • |     | a director or officer for acts or omissions not in good faith or which involve intentional misconduct or a 
 knowing violation of law;                                                                                  |

| • |     | a director pursuant to Section 174 of the DGCL; |

| • |     | a director or officer for any transaction from which the director or officer derived an improper personal 
 benefit; or                                                                                               |

| • |     | an officer in any action by or in the right of Penguin Solutions Delaware. |

Penguin Solutions Delaware’s amended and restated bylaws will provide that Penguin Solutions Delaware must indemnify its directors and officers to the fullest extent permitted by law. Penguin Solutions Delaware will also be required to advance certain expenses (including attorneys’ fees) to its directors and officers and is 60

expressly authorized to carry directors’ and officers’ insurance providing indemnification for its directors and officers for some liabilities. Penguin Solutions Cayman has entered into
agreements to indemnify the Penguin Solutions Cayman directors and executive officers and Penguin Solutions Delaware expects to enter into agreements to indemnify the Penguin Solutions Delaware directors and executive officers as determined by the
Penguin Solutions Delaware Board. With specified exceptions, these agreements provide for indemnification for related expenses, including, among other things, attorneys’ fees, judgments, fines and settlement amounts actually and reasonably
incurred by any of these individuals in any action or proceeding to the fullest extent permitted by applicable law. We believe that these bylaw provisions and indemnification agreements are necessary to attract and retain qualified persons as
directors and officers. Penguin Solutions Delaware will also maintain directors’ and officers’ liability insurance.

The limitation of liability and indemnification provisions in the Penguin Solutions Delaware amended and