Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 27

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 27
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 to this proxy statement. The certificate of designation that will govern the 
 Penguin Solutions Delaware convertible preferred stock, in the form substantially as will be in effect upon consummation of the transaction, is attached as Annex E to this proxy statement.                                                             |

| 27. Q: | Am I entitled to appraisal or dissenters’ rights in the Transaction? |

| A: | No. Holders of Penguin Solutions Cayman shares who voted at the Scheme Meeting or gave instructions to                                                                                                                                                 
 their broker or nominee to vote at the Scheme Meeting (as applicable) may attend and raise objections at the Sanction Hearing, where the Cayman Court will consider, amongst other things, whether to sanction the Scheme of Arrangement. Holders of   
 Penguin Solutions Cayman shares may file an objection with the Cayman Court against the sanctioning of the Scheme of Arrangement, but no appraisal or dissenting rights are available to such holders relating to the value of their Penguin Solutions 
 Cayman shares or payment for them in connection with the Transaction.                                                                                                                                                                                  |

| 28. Q: | Who will be the directors of Penguin Solutions Delaware following consummation of the Transaction? |

| A: | All of the members of the Penguin Solutions Cayman Board prior to the Completion Date will become                                                         
 members of the board of directors of Penguin Solutions Delaware as of immediately following the Completion Date (the “Penguin Solutions Delaware Board”). |

| 29. Q: | If the Scheme of Arrangement is approved and consummated, do I have to take any action to participate in the 
 Scheme of Arrangement?                                                                                       |

| A: | No. Upon the Completion Date, each of the Scheme Shareholders’ Penguin Solutions Cayman ordinary                                                                                                                                                          
 shares and Penguin Solutions Cayman convertible preferred shares will be exchanged for shares of common stock of Penguin Solutions Delaware and shares of convertible preferred stock of Penguin Solutions Delaware, respectively, without any action     
 required on your part. The Penguin Solutions Delaware stock will be issued in uncertificated book-entry form. Penguin Solutions Cayman book-entry shares held by Penguin Solutions Cayman shareholders as of the Scheme Record Time will be               
 transferred to Penguin Solutions Delaware in the Scheme of Arrangement, and following the Transaction, the holders thereof will cease to have any rights with respect to such Penguin Solutions Cayman shares except the right to receive a corresponding 
 number of uncertificated book-entry shares of the applicable class of Penguin Solutions Delaware. Penguin Solutions Cayman book-entry shares, including Penguin Solutions Cayman