Company: PAX
Filing Date: 2025-01-30
Form Type: 424B3
Source: 0000950103-25-001159
Chunk: 29

Company: Patria Investments Ltd
Filing Date: 2025-01-30
Form: 424B3
Chunk 29
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 may, in its absolute discretion, decline to register any transfer of any common share which is either not fully paid up to
a person of whom it does not approve or is issued under any share incentive scheme for employees which contains a transfer restriction
that is still applicable to such common share. The board of directors may also decline to register any transfer of any common share unless:

| • | a fee of such maximum sum as the Nasdaq may determine to be payable or such lesser sum as the board of 
 directors may from time to time require is paid to Patria in respect thereof;                          |

| • | the instrument of transfer is lodged with Patria, accompanied by the certificate (if any) for the common                                
 shares to which it relates and such other evidence as our board of directors may reasonably require to show the right of the transferor 
 to make the transfer;                                                                                                                   |

| • | the instrument of transfer is in respect of only one class of shares; |

| • | the instrument of transfer is properly stamped, if required; |

| • | the common shares transferred are free of any lien in favor of Patria; and |

| • | in the case of a transfer to joint holders, the transfer is not to more than four joint holders. |

If the directors refuse to
register a transfer, they are required, within two months after the date on which the instrument of transfer was lodged, to send to the
transferee notice of such refusal.

Share Repurchase

The Companies Act and the
Articles of Association permit Patria to purchase its own shares, subject to certain restrictions. The board of directors may only exercise
this power on behalf of Patria, subject to the Companies Act, the Articles of Association and to any applicable requirements imposed from
time to time by the SEC, Nasdaq, or by any recognized stock exchange on which our securities are listed.

Dividends and Capitalization of Profits

Our intention is to pay to
holders of Class A common shares dividends representing approximately 85% of our Distributable Earnings, subject to adjustment by
amounts determined by our board of directors to be necessary or appropriate. The dividend amount could also be adjusted upwards or downwards.
For more information on Distributable Earnings, see “Item 5. Operating and Financial Review and Prospects—A. Operating Results—Non-GAAP
Financial Measures and Reconciliations—Distributable Earnings (DE)” in our 2022 Form 20-F. For more information on our