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Performance Graph$100 investment in stock or indexTicker12/29/201712/31/201812/31/201912/31/202012/31/202112/30/2022PenumbraPENNYSE CompositeNYAS&P 500 Healthcare Equipment IndexXHEResults of OperationsYear Ended December 31,202220212020(in thousands, except for percentages)Revenue100.0%Cost of revenue36.8%36.4%39.7%Gross profit63.2%63.6%60.3%Operating expenses:Research and development9.4%14.0%16.1%Sales, general and administrative53.1%50.6%51.2%Total operating expenses62.5%64.6%67.3%Income (loss) from operations0.7%(1.0)%(6.9)%Interest income, net—%0.1%0.2%Other expense, net(0.3)%(0.5)%(0.1)%Income (loss) before income taxes0.5%(1.4)%(6.8)%Provision for (benefit from) income taxes(1.8)%(3.3)%Consolidated net (loss) income(0.2)%0.4%(3.4)%Net loss attributable to non-controlling interest—(0.4)%(0.6)%Net (loss) income attributable to Penumbra, Inc.(2.8)%Change$%Vascular22.1%Neuro2.7%Total13.3%Revenue by Geographic AreaUnited States69.8%70.6%12.1%International30.2%29.4%16.2%Gross Margin14.6%12.6%Gross margin %Research and Development (R&D)R&D(24.1)%R&D as a percentage of revenueSales, General and Administrative (SG&A)SG&A18.9%SG&A as a percentage of revenueProvision for (Benefit from) Income Taxes(144.9)%Effective tax rate151.4%125.0%52.7%15.7%33.4%71.4%31.9%Other International28.6%37.3%22.5%40.6%31.8%(Benefit from) Provision for Income Taxes(Benefit from) provision for income taxes(30.0)%49.3%Liquidity and Capital Resources(in thousands)Cash and cash equivalentsMarketable investmentsAccounts receivable, netAccounts payableAccrued liabilitiesWorking capital (1)Cash and cash equivalents at beginning of yearNet cash (used in) provided by operating activitiesNet cash provided by (used in) investing activitiesNet cash provided by financing activitiesCash and cash equivalents at end of yearConsolidated Balance SheetsDecember 31,AssetsCurrent assets:Accounts receivable, net of allowance for credit losses of $862 and $2,092 at December 31, 2022 and 2021, respectivelyInventoriesPrepaid expenses and other current assetsTotal current assetsProperty and equipment, netOperating lease right-of-use assetsFinance lease right-of-use assetsIntangible assets, netGoodwillDeferred taxesOther non-current assetsTotal assetsLiabilities and Stockholders’ EquityCurrent liabilities:Current operating lease liabilitiesCurrent finance lease liabilitiesTotal current liabilitiesNon-current operating lease liabilitiesNon-current finance lease liabilitiesOther non-current liabilitiesTotal liabilitiesCommitments and contingencies (Note 10)Stockholders’ equity:Preferred stock, $.001 par value per share - 5,000,000 shares authorized, none issued and outstanding at December 31, 2022 and December 31, 2021Common stock, $0.001 par value per share - 300,000,000 shares authorized, 38,107,977 issued and outstanding at December 31, 2022; 300,000,000 shares authorized, 37,578,483 issued and outstanding at December 31, 2021Additional paid-in capitalAccumulated other comprehensive lossRetained earningsTotal stockholders’ equityTotal liabilities and stockholders’ equityConsolidated Statements of OperationsNet (loss) income attributable to Penumbra, Inc. per share:BasicDilutedWeighted average shares outstanding:Consolidated Statements of Comprehensive (Loss) IncomeOther comprehensive (loss) income, net of tax:Foreign currency translation adjustments, net of taxNet change in unrealized (losses) gains on available-for-sale securities, net of taxTotal other comprehensive (loss) income, net of taxConsolidated comprehensive loss$—Comprehensive (loss) income attributable to Penumbra, Inc.Consolidated Statements of Stockholders EquityCommon StockAdditional Paid-in CapitalAccumulated
Other
Comprehensive
(Loss) IncomeRetained Earnings (Accumulated
Deficit)Total Penumbra, Inc. Stockholders’ EquityNon-Controlling InterestTotal
Stockholders’
EquitySharesAmountBalance at December 31, 2019Issuance of common stockIssuance of common stock under employee stock purchase planIssuance of common stock upon underwritten public offering, net of issuance costShares held for tax withholdingStock-based compensationCumulative effect adjustment (1)Other comprehensive incomeNet lossBalance at December 31, 2020Issuance of common stock in connection with Sixense acquisition (2)Replacement share-based awards issued in connection with Sixense acquisition (2)Acquisition of subsidiary stock from noncontrolling interests (2)Shares held for tax withholdingsOther comprehensive lossNet income (loss)Balance at December 31, 2021Balance at December 31, 2022Consolidated Statements of Cash FlowsCASH FLOWS FROM OPERATING ACTIVITIES:Net (loss) incomeAdjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:Depreciation and amortizationInventory write-offs and write-downsImpairment of intangible assetOtherChanges in operating assets and liabilities:Accounts receivablePrepaid expenses and other current and non-current assetsAccrued expenses and other non-current liabilitiesProceeds from lease incentivesCASH FLOWS FROM INVESTING ACTIVITIES:Cash acquired in a business combinationPurchases of marketable investmentsProceeds from sales of marketable investmentsProceeds from maturities of marketable investmentsPurchases of property and equipmentCASH FLOWS FROM FINANCING ACTIVITIES:Proceeds from issuance of common stock upon underwritten public offering, net of issuance costProceeds from exercises of stock optionsProceeds from issuance of stock under employee stock purchase planPayment of employee taxes related to vested common and restricted stockPayments of finance lease obligationsPayment of acquisition-related obligationsEffect of foreign exchange rate changes on cash and cash equivalentsNET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTSCASH AND CASH EQUIVALENTS—Beginning of periodCASH AND CASH EQUIVALENTS—End of periodSUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:Cash paid for income taxesNONCASH INVESTING AND FINANCING ACTIVITIES:Right-of-use assets obtained in exchange for operating lease obligationsRight-of-use assets obtained in exchange for finance lease obligationsFair value of common stock issued as consideration in connection with an acquisition (Note 5)Fair value of replacement options issued as consideration in connection with an acquisition (Note 5)Purchase of property and equipment funded through accounts payable and accrued liabilitiesMarketable InvestmentsDecember 31, 2022Securities with net gains or losses in accumulated other comprehensive income (loss)CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossFair ValueU.S. treasuryU.S. agency and government sponsored securitiesU.S. states and municipalitiesCorporate bondsNotes to Consolidated Financial Statements (Continued)December 31, 2021Gross Unrealized
GainsGross Unrealized
LossesCommercial paperU.S. agency securities and government sponsored securitiesLess than 12 monthsMore than 12 monthsAmortized CostDue in one yearDue in one to five yearsAs of December 31, 2022Level 1Level 2Level 3Fair ValueFinancial AssetsCash equivalents:Money market fundsMarketable investments:As of December 31, 2021Accounts Receivable, NetBalance At
Beginning Of YearWrite-offsProvision for (Benefit from) Expected Credit Losses (1)RecoveriesBalance At
End Of YearFor the year ended:December 31, 2020Raw materialsWork in processFinished goodsProperty and Equipment, NetMachinery and equipmentFurniture and fixturesLeasehold improvementsSoftwareComputersConstruction in progressTotal property and equipmentLess: Accumulated depreciation and amortizationAccrued LiabilitiesPayroll and employee-related expensesAccrued expensesDeferred revenueOther accrued liabilitiesTotal accrued liabilitiesBalance at the beginning of the yearAccruals of warranties issuedSettlements of warranty claimsBalance at the end of the yearFair Value of Consideration TransferredFair value of common stock issued (1)Fair value of replacement stock options (2)Consideration for settlement of pre-existing liabilities due to Sixense (3)Total purchase priceAcquisition-Date Fair ValueEstimated Useful Life of Finite-Lived Intangible AssetsTangible assets acquired and (liabilities) assumed:Deferred tax assetsDeferred tax liabilitiesAccrued liabilities and other current liabilitiesIntangible assets acquired:Developed technology8.75 yearsIn-process research and developmentNet assets acquiredFair value of subsidiary stock indirectly acquired through the MergerTotal net assets acquiredYear Ended December 31, 2021Year Ended December 31, 2020(unaudited, in thousands)Pro forma revenuesProforma net income (loss) attributable to Penumbra, Inc.Proforma net loss attributable to non-controlling interest6. Intangible AssetsWeighted-Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNetFinite-lived intangible assets:8.8 yearsCustomer relationships15.0 yearsTrade secrets and processes20.0 years5.0 yearsTotal intangible assets9.6 yearsWeighted-Average
Amortization PeriodTotal intangible assets subject to amortization9.8 yearsIndefinite-lived intangible assets:Amortization Expense20232024202520262027ThereafterTotal amortization7. GoodwillTotal CompanyBalance as of December 31, 2021Foreign currency translation and other adjustments 1Balance as of December 31, 20229. LeasesLease CostOperating lease costFinance lease cost:Amortization of right-of-use assetsInterest on lease liabilitiesVariable lease cost (1)Total lease costsWeighted Average Remaining Lease TermOperating leases13.4 years13.1 years9.1 yearsFinance leases11.4 years12.2 years13.5 yearsWeighted Average Discount Rate4.94%4.92%6.16%5.30%5.36%Operating Lease Payments (1)Finance Lease PaymentsYear Ending December 31:Total undiscounted lease paymentsLess imputed interestPresent value of lease liabilitiesCash paid for amounts included in the measurement of lease liabilities:Operating cash flows from operating leasesFinancing cash flows from finance leasesRight-of-use assets obtained in exchange for lease obligations:Stock OptionsNumber of SharesWeighted-Average
Exercise PriceWeighted Average Remaining Contractual Life (in years)Aggregate Intrinsic Value
(in thousands)GrantsExercisedCanceled/ForfeitedVested and expected to vest—December 31, 2022Exercisable—December 31, 2022Restricted Stock and Restricted Stock UnitsNumber
of SharesWeighted Average
Grant Date
Fair ValueUnvested at December 31, 2021GrantedReleased/VestedUnvested at December 31, 2022Stock-based CompensationESPP RightsExpected term (in years)Expected volatility42%46%43%48%Risk-free interest rate2.76%0.38%1.30%0.10%0.70%Expected dividend yield0%2021 (1)Cost of sales12. Accumulated Other Comprehensive LossYear Ended December 31, 2022Marketable
InvestmentsCurrency Translation
AdjustmentsBalance, beginning of the yearOther comprehensive (loss) income before reclassifications:Unrealized (losses) gains — marketable investmentsForeign currency translation lossesIncome tax effect — expenseNet of taxAmounts reclassified from accumulated other comprehensive loss to consolidated net income:Realized (loss) gain — marketable investmentsIncome tax effect — (expense) benefitNet current-year other comprehensive lossBalance, end of the year14. Income TaxesForeignTotal income (loss) before income taxesCurrent:FederalStateTotal currentDeferred:Total deferred2020 (1)Income tax at federal statutory rate21.0%State income taxes, net of federal benefitRate differential on foreign operationsForeign taxesMutual agreement procedure adjustmentPrepaid tax ASC 810-10Global intangible low-taxed income (“GILTI”)Non-deductible parking expensesPermanent differencesChange in valuation allowanceDeferred tax assets:Net operating loss carryforwardsTax creditsAccruals and reservesCapitalized research expensesTranslation adjustmentUNICAP adjustmentsASC 842 Lease LiabilitiesGross deferred tax assetsValuation allowanceTotal deferred tax assetsDeferred tax liabilities:ASC 842 Lease ROU AssetsTotal deferred tax liabilitiesNet deferred tax assetsBeginning BalanceAdditions Charged To Expenses or Other Accounts (1)Deductions Credited to Expenses or Other Accounts (2)Ending BalanceGross increase for tax positions of current yearGross increase for tax positions of prior yearsGross decrease for tax positions of prior yearsSettlement with taxing authority15. Net (Loss) Income Attributable to Penumbra, Inc.Numerator:Denominator:Weighted average shares used to compute net (loss) income attributable to common stockholders:Potential dilutive stock-based options and awards, as calculated using treasury stock methodNet (loss) income attributable to Penumbra, Inc. per share from:Revenue Recognition17. Selected Quarterly Financial Data (Unaudited)2022 Quarters EndedSelected Statement of Operations Data:March 31 (1)June 30September 30December 31Loss before (benefit from) for income taxesConsolidated net income (loss)Net income (loss) attributable to Penumbra, Inc.Net income (loss) attributable to Penumbra, Inc. per share:Weighted average shares used to compute net income (loss) per share:2021 Quarters EndedMarch 31Income before provision for (benefit from) income taxes(Benefit from) income taxesConsolidated net incomeNet income attributable to Penumbra, Inc.Net income per share:EXHIBIT INDEXIncorporation by ReferenceExhibit NumberDescriptionFormFile No.Exhibit(s)Filing DateRestated Certificate of Incorporation of Penumbra, Inc.8-K001-37557September 29, 2015Second Amended and Restated Bylaws of Penumbra, Inc.August 5, 2022Specimen Common Stock CertificateS-1/A333-206412September 8, 2015Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 193410.1ΨLease for facilities at 1321 and 1351 Harbor Bay Parkway, Alameda, California, dated January 1, 2022Lease for facilities at 1301, 1311, 1401 and 1431 Harbor Bay Parkway, Alameda, California, dated December 17, 201510-KMarch 8, 2016First Amendment to Lease Agreement for facilities at 1301, 1311, 1401 and 1431 Harbor Bay Parkway, Alameda, California, dated July 14, 2021February 22, 2022Second Amendment to Lease Agreement for facilities at 1301, 1311, 1401 and 1431 Harbor Bay Parkway, Alameda, California, dated September 1, 202110.5†Amended and Restated 2014 Equity Incentive Plan, and forms of Restricted Stock Agreement, Stock Option Agreement and Early Exercise Stock Option AgreementS-1August 14, 201510.6†Amended and Restated 2014 Equity Incentive Plan - Restricted Stock Agreement10-QNovember 12, 201510.7†Amended and Restated 2014 Equity Incentive Plan - Stock Option Agreement10.8†Amended and Restated 2014 Equity Incentive Plan - Restricted Stock Unit Agreement10.9†2014 Equity Incentive Plan, and forms of Restricted Stock Agreement, Stock Option Agreement and Early Exercise Stock Option Agreement10.10†2011 Equity Incentive Plan, and forms of Restricted Stock Agreement, Stock Grant Agreement, Stock Option Agreement and Early Exercise Stock Option Agreement10.11†2005 Stock Plan, and forms of Notice of Grant and Early Exercise Stock Option Agreement10.12†Amended and Restated 2014 Equity Incentive Plan - Form of Restricted Stock Unit AgreementFebruary 26, 201910.13†Amended and Restated 2014 Equity Incentive Plan - Form of Performance-Based Restricted Stock Unit Agreement10.14 †Amended and Restated 2014 Equity Incentive Plan – Form of Stock Option Agreement10.15†Form of Indemnification Agreement by and between Penumbra, Inc. and each of its directors and executive officers10.16†Offer Letter with Adam Elsesser10.17†Offer Letter with Johanna RobertsFebruary 26, 202010.1 8 †Offer Letter with Maggie Yuen10. 19 †Form of Employee Nondisclosure and Assignment Agreement10.2 0 †Employee Stock Purchase PlanAugust 31, 201510. 21Amended and Restated Lease for facilities at 630 Roseville Parkway, Roseville, California, dated January 29, 2019 and amended on July 31, 201910. 2 2Lease for facilities at 1310 Harbor Bay Parkway, Alameda, California, dated September 3, 2019November 7, 201910.2 3 ΨFirst Amendment to Lease for facilities at 1310 Harbor Bay Parkway, Alameda, California, dated April 10, 202010.2 4Second Amendment to Lease for facilities at 1310 Harbor Bay Parkway, Alameda, California, dated August 5, 202010.2 5Third Amendment to Lease for facilities at 1310 Harbor Bay Parkway, Alameda, California, dated July 29, 202110.2 6Fourth Amendment to Lease for facilities at 1310 Harbor Bay Parkway, Alameda, California, dated October 15, 202110.2 7Fifth Amendment to Lease for facilities at 1310 Harbor Bay Parkway, Alameda, California, dated April 1, 202210. 2 8 ΨLease for facilities at 1070 South 3800 West, Salt Lake City, Utah, dated April 26, 2019 and amended on April 4, 202210. 2 9 ΨCredit Agreement, dated as of April 24, 2020, by and among Penumbra, Inc. and JPMorgan Chase Bank, N.A., as Administrative Agent and Lender, Citibank, N.A., as Lender, and Bank of America, N.A., as LenderApril 24, 202010.3 0Amendment No. 1, dated as of February 22, 2021, to Credit Agreement, dated as of April 24, 2020, by and among Penumbra, Inc. and JPMorgan Chase Bank, N.A., as Administrative Agent and Lender, Citibank, N.A., as Lender, and Bank of America, N.A., as LenderMay 4, 2021Amendment No. 2, dated as of February 18, 2022, to Credit Agreement, dated as of April 24, 2020, by and among Penumbra, Inc. and JPMorgan Chase Bank, N.A., as Administrative Agent and Lender, Citibank, N.A., as Lender, and Bank of America, N.A., as LenderMay 3, 2022Subsidiaries of the RegistrantConsent of Deloitte & Touche LLPPower of Attorney (included on signature page)Certification of Principal Executive Officer required under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amendedCertification of Principal Financial Officer required under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended32.1*Certification of Principal Executive Officer and Principal Financial Officer required under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350The following materials from the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 formatted in Inline Extensible Business Reporting Language (iXBRL): (i) Consolidated Balance Sheets as of December 31, 2022 and December 31, 2021, (ii) Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020, (ii) Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2022, 2021 and 2020, (iii) Consolidated Statements of Stockholders’ Equity for the years ended December 31, 2022, 2021, and 2020, (iv) Consolidated Statements of Cash Flows for the years ended December 31, 2022, 2021, and 2020, and (v) Notes to Consolidated Financial Statements.Cover Page Interactive Data File (formatted as iXBRL with applicable taxonomy extension information contained in Exhibit 101)POWER OF ATTORNEYSignatureTitleDate/s/ Adam ElsesserChairman, Chief Executive Officer and PresidentFebruary 23, 2023Adam Elsesser(Principal Executive Officer)/s/ Maggie YuenChief Financial OfficerMaggie Yuen(Principal Financial Officer)/s/ Lambert ShiuChief Accounting OfficerLambert Shiu(Principal Accounting Officer)/s/ Arani BoseDirectorArani Bose/s/ Don KassingDon Kassing/s/ Harpreet GrewalHarpreet Grewal/s/ Thomas C. WilderThomas C. Wilder/s/ Bridget O’RourkeBridget O’Rourke/s/ Janet LeedsJanet Leeds/s/ Surbhi SarnaSurbhi SarnaTenantARTICLE 1 PREMISES; COMMON AREASARTICLE 2 TERM AND CONDITION OF PREMISESARTICLE 3 USE, NUISANCE, OR HAZARDARTICLE 4 RENTARTICLE 5 RENT ADJUSTMENTARTICLE 6 SERVICES TO BE PROVIDED BY LANDLORDARTICLE 7 REPAIRS AND MAINTENANCE BY LANDLORDARTICLE 8 REPAIRS AND CARE OF PREMISES BY TENANTARTICLE 9 TENANT'S EQUIPMENT AND INSTALLATIONSARTICLE 10 FORCE MAJEUREARTICLE 11 CONSTRUCTION, MECHANICS' AND MATERIALMAN'S LIENSARTICLE 12 ARBITRATIONARTICLE 13 INSURANCEARTICLE 14 QUIET ENJOYMENTARTICLE 15 ALTERATIONSARTICLE 16 FURNITURE, FIXTURES, AND PERSONAL PROPERTYARTICLE 17 PERSONAL PROPERTY AND OTHER TAXESARTICLE 18 ASSIGNMENT AND SUBLETTINGARTICLE 19 DAMAGE OR DESTRUCTIONARTICLE 20 CONDEMNATIONARTICLE 21 HOLD HARMLESSARTICLE 22 DEFAULT BY TENANTARTICLE 23 [INTENTIONALLY OMITTED]ARTICLE 24 [INTENTIONALLY OMITTED]ARTICLE 25 ATTORNEYS' FEESARTICLE 26 NON-WAIVERARTICLE 27 RULES AND REGULATIONSARTICLE 28 ASSIGNMENT BY LANDLORD; RIGHT TO LEASEARTICLE 29 LIABILITY OF LANDLORDARTICLE 30 SUBORDINATION AND ATTORNMENTARTICLE 31 HOLDING OVERARTICLE 32 SIGNS; ADDRESSESARTICLE 33 HAZARDOUS SUBSTANCESARTICLE 34 COMPLIANCE WITH LAWS AND OTHER REGULATIONSARTICLE 35 SEVERABILITYARTICLE 36 NOTICESARTICLE 37 OBLIGATIONS OF, SUCCESSORS, PLURALITY, GENDERARTICLE 38 ENTIRE AGREEMENTARTICLE 39 CAPTIONSARTICLE 40 CHANGESARTICLE 41 AUTHORITYARTICLE 42 BROKERAGEARTICLE 43 EXHIBITSARTICLE 44 APPURTENANCESARTICLE 45 PREJUDGMENT REMEDY, REDEMPTION, COUNTERCLAIM, ANDJURYARTICLE 46 RECORDINGARTICLE 47 MORTGAGEE PROTECTIONARTICLE 48 OTHER LANDLORD CONSTRUCTIONARTICLE 49 PARKINGARTICLE 50 ELECTRICAL CAPACITYARTICLE 51 OPTIONS TO EXTEND LEASEARTICLE 52 TELECOMMUNICATIONS LINES AND EQUIPMENTARTICLE 53 ERISAARTICLE 54 TENANT'S RIGHT OF FIRST OFFER TO PURCHASEARTICLE 55 TENANT'S RIGHT OF FIRST OFFER TO LEASEARTICLE 56 TENANT'S ROOFTOP RIGHTSARTICLE 57 EXISTING LEASE TERMINATIONBASIC LEASE INFORMATIONPeriodApproximate Monthly Rate Per Rentable Square FootMonthly Base Rent1/1/22 – 12/31/221/1/23 – 12/31/231/1/24 – 12/31/241/1/25 – 12/31/251/1/26 – 12/31/261/1/27 – 12/31/271/1/28 – 12/31/281/1/29 – 12/31/291/1/30 – 12/31/301/1/31 – 12/31/311/1/32 – 12/31/321/1/33 – 12/31/331/1/34 – 12/31/341/1/35 – 12/31/351/1/36 – 12/31/36RSFPeriod (in Months)Rate Per RSF Per MonthAnnualMonthly1 - 2 (the “ Free Rent Period ”)N/A3 – 1213 – 2425 – 3637 – 4849 – 6061 – 62(k) Addresses For NoticesLandlord:Tenant:c/o Mapletree US Management, LLC 5 Bryant Park, Suite 2800 New York, NY 10018
With a copy to:
c/o Exeter Property Group 101 West Elm Street, Suite 600 Conshohocken, PA 19428 Attn: Chief Financial OfficerPenumbra, Inc.,
One Penumbra Place Alameda, California 94502 Attention: General Counsel
With a copy to:
Penumbra, Inc.,
One Penumbra Place Alameda, California 94502 Attention: Director of FacilitiesMinimum Annual RentPERIODANNUAL RATE PER RENTABLE SFANNUAL FIRST AMENDMENT EXPANSION RENTMONTHLY INSTALLMENT OF RENTMay 1, 2022 – May 31, 2022*June 1, 2022 – April 30, 2023$772,644.00**May 1, 2023 – April 30, 2024May 1, 2024 – April 30, 2025May 1, 2025 – April 30, 2026May 1, 2026 – April 30, 2027May 1, 2027 – May 31, 2027$76,471.56**SUBSIDIARIES OF PENUMBRA, INC.Name of SubsidiaryJurisdiction of OrganizationPenumbra Europe GmbHGermanyPenumbra Neuro Australia Pty LtdAustraliaPenumbra Neuro Canada Inc.CanadaPenumbra Latin America Distribuidora de Equipamentos e Produtos Médicos Ltda.BrazilCrossmed S.p.A.ItalyPenumbra Interventional Therapies UK Ltd.United KingdomPenumbra Singapore Pte. Ltd.SingaporePenumbra France SASFrancePenumbra Japan GKJapanPenumbra Israel LtdIsraelPenumbra Sweden ABSwedenPenumbra Denmark ApSDenmarkCERTIFICATION OF PRINCIPAL EXECUTIVE OFFICERCERTIFICATION OF PRINCIPAL FINANCIAL OFFICERSECTION 906 OF THE SARBANES-OXLEY ACT OF 2002PK ! Wu u docProps/app.xml
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