Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 70

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 70
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% (or a lower rate specified by an applicable income tax treaty) on
such effectively connected dividends, as adjusted for certain items. Non-U.S. Holders should consult their tax advisors regarding any applicable tax treaties that may provide for different rules.

44

Dispositions of Shares of Penguin Solutions Delaware Common Stock Subject to the discussions below relating to backup withholding and foreign accounts, a Non-U.S.Holder generally will not be subject to U.S. federal income tax on any gain realized upon the sale, taxable exchange or other taxable disposition of shares of Penguin Solutions Delaware common stock, unless:

| • |     | the gain is effectively connected with the Non-U.S. Holder’s conduct                                                                                                                                         
 of a trade or business within the United States (and, if required by an applicable income tax treaty, such gain is attributable to a permanent establishment maintained by the Non-U.S. Holder in the United 
 States);                                                                                                                                                                                                     |

| • |     | the Non-U.S. Holder is a nonresident alien individual present in the                                                     
 United States for 183 days or more during the taxable year of the disposition and certain other requirements are met; or |

Gain described in the first bullet point above generally will be subject to U.S. federal income tax on a net income basis at the regular rates applicable to United States persons. A Non-U.S.Holder that is a corporation may also be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such effectively connected gain, as adjusted for certain items. A Non-U.S.Holder described in the second bullet point above generally will be subject to U.S. federal income tax at a rate of 30% (or a lower rate specified by an applicable income tax treaty) on gain realized upon the sale, taxable exchange or other taxable disposition of shares of Penguin Solutions Delaware common stock, which may be offset by certain U.S. source capital losses of the Non-U.S.Holder, provided the Non-U.S.Holder has timely filed U.S. federal income tax returns with respect to such losses. With respect to the third bullet point above, we currently do not anticipate Penguin Solutions Delaware being or becoming a USRPHC. However, because the determination at any time of whether Penguin Solutions Delaware is a USRPHC will depend on the fair market value of its USRPIs relative to the fair market value of its non-U.S.real property interests and other trade or business assets, there can be no assurance that Penguin Solutions