Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 310

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 310
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2024, the Group entered into an amendment agreement by acquiring an additional 29.72

Tria - option arrangements

The business combination with Tria, as disclosed in note 30, included a call and put option arrangement (collectively “ Tria Option Arrangements”) with the non-controlling interest shareholders, exercisable at specified future dates. The non-controlling shareholders granted to the Group a call option arrangement (“ Tria Call Options”) which includes the right for the potential acquisition of the remaining 33.3

The Tria Put Options can be individually exercised by each non-controlling shareholder, on (i) December 31, 2029; (ii) December 31, 2030; or (iii) December 31, 2031, the “ Base Date” and during April in each of the years 2029, 2030 and 2031 the “ Option Window”. If the Tria put options are not exercised during the Option Window, the Group may exercise the Tria Call Options in the month of May immediately after the end of each Tria Put Option Window.

  Patria Investments Limited      F-35  

  Table of Contents  

  Notes to the consolidated financial statements                                             
  As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022  
  (Amounts in thousands of United States dollars - US$, except where otherwise stated)       
 ─────────────────────────────────────────────────────────────────────────────────────────────

Below is the composition of other financial instrument portfolios (assets and liabilities) by type of instrument, fair value and maturity as of December 31, 2024, and December 31, 2023.

  Financial instruments                                                                                                                                
                                                                     Fair Value                    %      From 4 to 12 months                          
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Assets                                                                                                                                               
  Energy trading contracts                               90,386                      25,169       88                                9,292       7,523  
  Tria call option                                       24,125                       3,578       12      —                                     3,578  
  Total                                                 114,511                      28,747      100                                9,292      11,101  
  Liabilities                                                                                                                                          
  Warrants - SPAC                                       132,250                       6,143