Company: PAX
Filing Date: 2025-01-16
Form Type: 424B3
Source: 0000950103-25-000600
Chunk: 5

Company: Patria Investments Ltd
Filing Date: 2025-01-16
Form: 424B3
Chunk 5
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 Class A common shares issuable as deferred consideration pursuant to the VBI Transaction Agreement 
 that may be sold under this prospectus supplement is 1,246,846.                                                                    |

| (2) | Calculated using 60,640,738 Class A common shares outstanding and 92,945,430 Class B common shares outstanding as of January 16, 2025. 
 In calculating this percentage for a particular holder, Patria treated as outstanding the maximum number of Class A common shares held 
 and/or received by that particular holder and excluded all Class A common shares held by any other holder.                             |

<div align='center'>S-4</div>

| (3) | Assumes that all Class A common shares issued as deferred consideration pursuant to the VBI Transaction Agreement have been sold by 
 the Selling Stockholders.                                                                                                           |

| (4) | Together, these shareholders beneficially owns less than 1% of the total number of outstanding Class A common shares on January 16, 
 2025.                                                                                                                               |

<div align='center'>S-5

Plan of Distribution</div>

This prospectus supplement relates to the offer
and sale from time to time of Class A common shares by the Selling Stockholders. Any Class A common shares received by the Selling Stockholders
as deferred consideration pursuant to the VBI Transaction Agreement will be “restricted securities” within the meaning of
Rule 144(a)(3) under the Securities Act and will contain a legend setting out such restriction and will be segregated until such time
as they are sold under the registration statement of which this prospectus supplement forms a part. Patria is registering the resale of
Class A common shares for sale to provide the holders thereof with freely tradable securities, but such shares will not become freely
tradable until sold pursuant to the registration statement of which this prospectus supplement forms a part. There can be no assurance
that the Selling Stockholders will sell any or all of the Class A common shares registered pursuant to the registration statement of which
this prospectus supplement forms a part.

The Selling Stockholders may, from time to time,
sell any or all of the Class A common shares beneficially owned by them and offered hereby directly or indirectly through one or more
broker-dealers or agents. The Selling Stockholders will be responsible for any agent’s commissions. The Class A common shares may
be sold in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at varying prices determined