Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 62

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 62
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 for shares of Penguin Solutions Delaware common stock pursuant to the Scheme of Arrangement and (ii) owning and disposing of shares of Penguin Solutions Delaware common stock that are received pursuant to the Scheme of Arrangement. This discussion is based on and subject to the U.S. Internal Revenue Code of 1986, as amended (the “ Code”), the U.S. Treasury Regulations promulgated thereunder, published guidance of the U.S. Internal Revenue Service (the “ IRS”) and court decisions, in each case, as of the date hereof, all of which are subject to change, possibly with retroactive effect, and to differing interpretations. The following discussion assumes that the Scheme of Arrangement will be consummated as described in this proxy statement and applies only to U.S. Holders and Non-U.S.Holders that hold their Penguin Solutions Cayman ordinary shares, and that will hold their shares of Penguin Solutions Delaware common stock received pursuant to the Scheme of Arrangement, as “capital assets” within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not constitute tax advice and does not address all aspects of U.S. federal income taxation that may be relevant to any particular holders in light of their personal circumstances, including any tax consequences arising under the Medicare contribution tax on net investment income, or to any holders subject to special treatment under the Code, such as:

| • |     | banks, thrifts, mutual funds, insurance companies and other financial institutions; |

| • |     | real estate investment trusts and regulated investment companies; |

| • |     | traders in securities who elect to apply a 
 mark-to-market method of accounting;       |

| • |     | brokers, dealers or traders in securities or foreign currency; |

| • |     | tax-exempt organizations or governmental organizations; |

| • |     | insurance companies; |

| • |     | individual retirement and other deferred accounts; |

| • |     | persons whose functional currency is not the U.S. dollar; |

| • |     | U.S. expatriates and former citizens or long-term residents of the United States; |

| • |     | “passive foreign investment companies” or “controlled foreign corporations” and corporations 
 that accumulate earnings to avoid U.S. federal income tax;                                   |

| • |     | persons subject to the alternative minimum tax; |

| • |     | persons deemed to sell our common stock under the constructive sale provisions of the Code; |

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