Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 65

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 65
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 corporation for U.S. federal income tax purposes) created or 
 organized in the United States, any state thereof or the District of Columbia;                           |

| • |     | an estate the income of which is subject to U.S. federal income taxation regardless of its source; or |

| • |     | a trust if (i) a court within the United States is able to exercise primary supervision over the                                                                                                                                          
 administration of the trust and one or more United States persons (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust, or (ii) the trust has a valid election in 
 effect under applicable U.S. Treasury Regulations to be treated as a United States person for U.S. federal income tax purposes.                                                                                                           |

For purposes of this discussion, a “Non-U.S.Holder” means a beneficial owner of Penguin Solutions Cayman ordinary shares or, after the completion of the Scheme of Arrangement, shares of Penguin Solutions Delaware common stock received in the Scheme of Arrangement, that is an individual, corporation, estate or trust and, in each case, is not a U.S. Holder. If an entity treated as a partnership for U.S. federal income tax purposes holds Penguin Solutions Cayman ordinary shares or, after the completion of the Scheme of Arrangement, shares of Penguin Solutions Delaware common stock, the tax treatment of a partner in the partnership will generally depend upon the status of the partner, the activities of the partnership and certain determinations made at the partner level. A holder that is a partnership for U.S. federal income tax purposes and the partners in such partnership should consult their tax advisors about the U.S. federal income tax consequences to them of the Scheme of Arrangement and of the ownership and disposition of shares of Penguin Solutions Delaware common stock. THIS DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TAX ADVICE. HOLDERS OF PENGUIN SOLUTIONS CAYMAN ORDINARY SHARES OR, AFTER THE COMPLETION OF THE SCHEME, SHARES OF PENGUIN SOLUTIONS DELAWARE COMMON STOCK SHOULD CONSULT THEIR TAX ADVISORS WITH RESPECT TO THE U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE SCHEME OF ARRANGEMENT AND OF THE OWNERSHIP AND DISPOSITION OF SHARES OF PENGUIN SOLUTIONS DELAWARE COMMON STOCK TO THEM IN LIGHT OF THEIR PARTICULAR CIRCUMSTANCES, AS WELL AS ANY TAX CONSEQUENCES ARISING UNDER U.S.