Company: PAX
Filing Date: 2025-01-30
Form Type: 424B3
Source: 0000950103-25-001159
Chunk: 22

Company: Patria Investments Ltd
Filing Date: 2025-01-30
Form: 424B3
Chunk 22
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 Class B common shares as full or partial consideration, or (3) an issuance of
Class A common shares, whereby holders of the Class B common shares are entitled to purchase a number of Class B common
shares that would allow them to maintain their proportional ownership interests in Patria (following an offer by Patria to each holder
of Class B common shares to issue to such holder, upon the same economic terms and at the same price, such number of Class B
common shares as would ensure such holder may maintain a proportional ownership interest in Patria pursuant to Patria’s Articles
of Association). In light of: (a) the above provisions; (b) the fact that future transfers by holders of Class B common
shares will generally result in those shares converting to Class A common shares, subject to limited exceptions as provided in the
Articles of Association; and (c) the ten-to-one voting ratio between our Class B common shares and Class A common shares
means that holders of our Class B common shares will in many situations continue to maintain control of all matters requiring shareholder
approval. This concentration of ownership and voting power will limit or preclude your ability to influence corporate matters for the
foreseeable future. For more information see “—Preemptive or Similar Rights.”

Patria’s Articles of
Association also provide that the issuance of non-voting common shares requires the affirmative vote of a majority of the then-outstanding
Class A common shares.

Fiscal Year

Patria’s fiscal year
begins on January 1 of each year and ends on December 31 of the same year.

Voting Rights

The holders of the Class A
common shares and Class B common shares have identical rights, except that (1) the holder of Class B common shares is entitled
to 10 votes per share, whereas holders of Class A common shares are entitled to one vote per share, (2) Class B common shares
have certain conversion rights and (3) the holder of Class B common shares is entitled to maintain a proportional ownership interest
in the event that additional Class A common shares are issued. For more information see “—Preemptive or Similar Rights”
and “—Conversion.” The holders of Class A common shares and Class B common shares vote together as a single
class on all matters (including the election of directors) submitted to a vote of shareholders, except as provided below and as otherwise
required by law.

Patria’s Articles of
Association provide as follows regarding the respective rights