Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 129

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 129
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 (after the deduction of all expenses and commissions, including any amount in respect of any tax payable thereon) shall be paid to such Scheme Shareholder by cheque or such other form of payment as determined by the        
 authorised person in its sole discretion. To give effect to any such sale, the authorised person shall be authorised on behalf of such Scheme Shareholder to execute and deliver a form of transfer and to give such instructions and do all such things 
 which such authorised person may consider necessary or expedient in connection with such sale. None of Penguin Solutions Cayman, Penguin Solutions Delaware or the authorised person shall have any liability for any loss or damage arising as a result 
 of the timing or terms of any such sale; or                                                                                                                                                                                                              |

| (b) | determine that no such Penguin Solutions Delaware Stock shall be issued to such Scheme Shareholder under Clause                                                                                                                                        
 7, but instead the applicable Penguin Solutions Delaware Stock shall be issued to a nominee appointed by Penguin Solutions Delaware as trustee for such Scheme Shareholder, on terms that such Penguin Solutions Delaware Stock shall, as soon as      
 practicable following the Scheme Record Time, be sold on behalf of such Scheme Shareholder at the best price which can reasonably be obtained at the time of sale. The net proceeds of such sale (after the deduction of all expenses and commissions, 
 including any amount in respect of any tax payable thereon) shall be paid to such Scheme Shareholder by cheque or such other form of payment as determined by the nominee in its sole discretion. None of Penguin Solutions Cayman, Penguin Solutions  
 Delaware or the nominee shall have any liability for any loss arising as a result of the timing or terms of any such sale.                                                                                                                             |

| 9. | MANDATED PAYMENTS AND OTHER INSTRUCTIONS |

| 9.1 | Each mandate in force at the Scheme Record Time relating to the payment of dividends on the Scheme Shares and                                                                                                                                      
 each instruction then in force as to notices and other communications from Penguin Solutions Cayman shall, unless and until varied or revoked, be deemed as from the Completion Date to be a valid and effective mandate or instruction to Penguin 
 Solutions Delaware in relation to the corresponding shares of Penguin Solutions Delaware Stock to be allotted and issued pursuant to this Scheme.                                                                                                  |

| 10. | MODIFICATION AND SEVERABILITY |

| 10.1 | Penguin Solutions Cayman may consent for and on behalf of all persons concerned to any modification of or 
 addition to this Scheme or to any condition which the Cayman Court may think fit to approve or