Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 130

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 130
---
 impose.    |

| 10.2 | When under any provision of this Scheme a matter is to be determined by Penguin Solutions Cayman and/or Penguin                                                                                                         
 Solutions Delaware then they or it will have discretion to interpret such matter under this Scheme in a manner that they or it considers fair and reasonable, and their/its decisions will be binding on all concerned. |

| 10.3 | If any provision (or any part of any provision) of this Scheme is found by the Cayman Court to be illegal or                                         
 unenforceable, it shall be severed from this Scheme and, to the extent practicable, the remaining provisions of this Scheme shall continue in force. |

| 11. | COSTS |

| 11.1 | Penguin Solutions Cayman is authorised and permitted to pay all the costs and expenses relating to the 
 negotiation, preparation and implementation of the Scheme.                                             |

B-8

| 12. | GOVERNING LAW |

| 12.1 | The operative terms of this Scheme shall be governed by, and construed in accordance with, the laws of the                                                                                                                                              
 Cayman Islands and the courts of the Cayman Islands shall have exclusive jurisdiction to hear and determine any proceeding and to settle any dispute which arises out of or in connection with the terms of this Scheme or its implementation or out of 
 any action taken or omitted to be taken under this Scheme or in connection with the administration of this Scheme and for such purposes, the parties irrevocably submit to the exclusive jurisdiction of the courts of the Cayman Islands, provided,    
 however, that nothing in this Clause shall affect the validity of other provisions determining governing law and jurisdiction between the parties whether contained in any contract or otherwise.                                                       |

| 12.2 | The terms of this Scheme and the obligations imposed on Penguin Solutions Cayman and Penguin Solutions Delaware 
 hereunder shall take effect subject to any prohibition or condition imposed by any applicable law.              |

Dated: , 2025 B-9

ANNEX C EXPECTED TIMETABLE OF PRINCIPAL EVENTS

| Description of Event                                                                                |     |                                                                    Expected time/ date |
| Voting Record Time for determining the shareholders of Penguin Solutions Cayman eligible to vote at 
 the Scheme Meeting                                                                                  |     |                                                                   p.m. (Pacific Time), 
                                                                        on       , 2025 |
| Publication and mailing of the Proxy Statement to Penguin Solutions Cayman shareholders (together   
 with applicable proxy cards