Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 30

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 30
---
 proxy solicitor) will only be able to provide practical information and will not provide advice on the merits of the meeting proposal or give any financial, legal or tax advice. For financial, legal or tax advice, you will need to consult your own independent advisers. 15

SUMMARY

This summary highlights selected information from this proxy statement. It does not contain all of the information that is important to you. To understand the Transaction, meeting proposal and voting procedures more fully, and for a more complete legal description of the Transaction, you should read carefully the entire proxy statement, including the annexes. The Scheme of Arrangement, substantially in the form attached as Annex B to this proxy statement, is the legal document that governs the Transaction. The amended and restated certificate of incorporation of Penguin Solutions Delaware, substantially in the form attached to this proxy statement as Annex D, and the amended and restated bylaws of Penguin Solutions Delaware, substantially in the form attached to this proxy statement as Annex F, will govern Penguin Solutions Delaware after the completion of the Scheme of Arrangement. The certificate of designation in substantially the form attached hereto as Annex E will also govern the Penguin Solutions Delaware convertible preferred stock after the completion of the Scheme of Arrangement.

The Scheme of Arrangement Proposal

Parties to the Transaction

Penguin Solutions Cayman. Penguin Solutions Cayman is the parent company of the Penguin Solutions group of
companies, which designs, builds, deploys and manages high-performance, high-availability enterprise solutions. The registered office of Penguin Solutions Cayman is located at Walkers Corporate Limited, 190 Elgin Avenue, George Town, Cayman Islands,
KY1-9008.

Penguin Solutions Delaware.Penguin Solutions Delaware is a newly formed
Delaware corporation and is currently a direct, wholly-owned subsidiary of Penguin Solutions Cayman. Penguin Solutions Delaware has only nominal assets and capitalization and has not engaged in any business or other activities other than in
connection with its formation and the Transaction. Immediately following the Transaction, Penguin Solutions Delaware will become the ultimate parent company of the Penguin Solutions group of companies.

The principal offices of Penguin Solutions Cayman and Penguin Solutions Delaware are located at 1390 McCarthy Boulevard, Milpitas, CA 95035
and the telephone number at that address is (510) 623-1231.

The Scheme of Arrangement

Court Sanction of the Scheme of Arrangement

Pursuant to Section 86 Cayman Companies Act, we cannot complete the Scheme of Arrangement without the sanction of the