Company: PAX
Filing Date: 2025-01-30
Form Type: 424B3
Source: 0000950103-25-001159
Chunk: 32

Company: Patria Investments Ltd
Filing Date: 2025-01-30
Form: 424B3
Chunk 32
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itions to the existing
board (within the limits set pursuant to the Articles of Association) may be made by ordinary resolution of the shareholders.

Since the completion of our
initial public offering, our board of directors has in place an audit committee. See “Item 6. Directors, Senior Management and Employees—C.
Board Practices—Audit Committee” in our 2022 Form 20-F.

Grounds for Removing a Director

A director may be removed
with or without cause by ordinary resolution. The notice of general meeting must contain a statement of the intention to remove the director
and must be served on the director not less than 10 calendar days before the meeting. The director is entitled to attend the meeting and
be heard on the motion for his or her removal.

The office of a director
will be vacated automatically if he or she (1) becomes prohibited by law from being a director, (2) becomes bankrupt or makes
an arrangement or composition with his creditors, (3) dies or is in the opinion of all his or her co-directors, incapable by reason
of mental disorder of discharging his or her duties as director, (4) resigns his or her office by notice to us or (5) has for
more than six months been absent without permission of the directors from meetings of the board of directors held during that period,
and the remaining directors resolve that his or her office be vacated.

Proceedings of the Board of Directors

The Articles of Association
provide that Patria’s business is to be managed and conducted by the board of directors. The quorum necessary for the board meeting
shall be a simple majority of the directors then in office (subject

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to there being a minimum
of two directors present) and business at any meeting shall be decided by a majority of votes. In the case of an equality of votes, the
chairman shall have a casting vote.

Subject to the provisions
of the Articles of Association, the board of directors may regulate its proceedings as they determine is appropriate. Board meetings shall
be held at least once every calendar quarter and shall take place either in São Paulo, Brazil or at such other place as the directors
may determine.

Subject to the provisions
of the Articles of Association, to any directions given by ordinary resolution of the shareholders and the listing rules of the Nasdaq,
the board of directors may from time to time at its discretion exercise all powers of Patria, including, subject to the