Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 55

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 55
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90 days prior to such time will be permitted to sell any Penguin Solutions Delaware common stock received in the Transaction without regard to Rule 144 under the Securities Act. |

| • |     | Persons who were affiliates of Penguin Solutions Cayman at the consummation of the Transaction or were affiliates                                                                                                                                         
 within 90 days prior to such time will be permitted to resell any Penguin Solutions Delaware common stock they receive pursuant to the Transaction in the manner permitted by Rule 144. In computing the holding period of the Penguin Solutions Delaware 
 common stock for the purposes of Rule 144(d), such persons will be permitted to “tack” the holding period of their Penguin Solutions Cayman ordinary shares held prior to the consummation of the Transaction.                                            |

| • |     | Persons whose shares of Penguin Solutions Cayman bear a legend restricting transfer will receive shares of 
 Penguin Solutions Delaware that are subject to the same restrictions.                                      |

The Penguin Solutions Delaware convertible preferred stock issued to certain Penguin Solutions Cayman shareholders in connection with the Transaction and the shares of Penguin Solutions Delaware common stock that may be issued upon conversion of Penguin Solutions Delaware convertible preferred stock or the Convertible Notes have not been registered under the Securities Act or any applicable state securities laws and may not be offered or sold in the United States except pursuant to an effective registration statement or an exemption from the registration requirements of the Securities Act, including Rule 144 under the Securities Act and any applicable state securities laws. Persons who may be deemed to be affiliates of Penguin Solutions Cayman and Penguin Solutions Delaware for these purposes generally include individuals or entities that control, are controlled by, or are under common control with, Penguin Solutions Cayman or Penguin Solutions Delaware, and would generally not be expected to include shareholders who are not executive officers, directors or significant shareholders of Penguin Solutions Cayman or Penguin Solutions Delaware. We have not filed a registration statement with the SEC covering any resales of the Penguin Solutions Delaware common stock to be received by Penguin Solutions Cayman’s shareholders in connection with the Transaction. Penguin Solutions Delaware intends to file certain post-effectiveamendments to existing effective registration statements of Penguin Solutions Cayman concurrently with the completion of the Transaction. Upon consummation of the Scheme of Arrangement, the Penguin Solutions Delaware common stock will be deemed to be registered under Section 12(b) of the Exchange Act, by virtue of Rule 12g-3under the Exchange Act, without the filing of any Exchange Act registration statement and Penguin Solutions Delaware will be deemed to be the successor issuer of the registered Penguin Solutions Cay