Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 127

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 127
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 shall be issued, ((a) and (b) together, the “Scheme Consideration”). |

| 7.3 | For the purpose of giving effect to the transfer of the Scheme Shares provided for in Clause 7.1, Penguin                                                                                                                                            
 Solutions Cayman shall authorise any person to execute or effect on behalf of all the Scheme Shareholders, as well as on behalf of CEDE, an instrument or instruction of transfer of all the Scheme Shares held by such Scheme Shareholders (whether 
 directly or held in the name of CEDE) and every such instrument or instruction of transfer so executed shall be effective as if it had been executed by such Scheme Shareholders and by CEDE, respectively.                                          |

| 7.4 | On the Completion Date, Penguin Solutions Delaware will deposit with the Exchange Agent, acting as exchange                                                                                                                                            
 agent and solely for the account and benefit of the Scheme Shareholders, book-entry shares representing the full number of shares of Penguin Solutions Delaware Stock to be issued as the Scheme Consideration. As promptly as practicable thereafter, 
 Penguin Solutions Delaware will cause the Exchange Agent to deliver the Scheme Consideration to the Scheme Shareholders without any further action on the part of the Scheme Shareholders.                                                             |

| 7.5 | The shares of Penguin Solutions Delaware Stock constituting the Scheme Consideration will only be registered in                                                                                                                                         
 the name of those persons in whose name the Scheme Shares were transferred from as registered in the Register of Members of Penguin Solutions Cayman as of the Scheme Record Time. In the case of Scheme Shares for which CEDE is the registered holder 
 at the Scheme Record Time, the entitlement to the relevant shares of Penguin Solutions Delaware Stock shall be credited to CEDE.                                                                                                                        |

| 7.6 | In the case of joint holders of Scheme Shares in issue as of the Scheme Record Time, the Scheme Consideration 
 shall be issued to all such holders of Scheme Shares jointly.                                                 |

| 7.7 | For the purposes of determining the identity of the Scheme Shareholders, Penguin Solutions Cayman shall be 
 under no obligation to recognize any transfer of Scheme Shares after the Scheme Record Time.               |

| 7.8 | The transfer of the Scheme Shares shall be recorded by removing the name of each Scheme Shareholder from the                                                                                                                                            
 Register of Members of Penguin Solutions Cayman as at the Scheme Record Time, and recording Penguin Solutions Delaware on the Register of Members of Penguin Solutions Cayman as the sole member of Penguin Solutions Cayman as of the Completion Date, 
 who