Company: PAX
Filing Date: 2025-01-30
Form Type: 424B3
Source: 0000950103-25-001159
Chunk: 35

Company: Patria Investments Ltd
Filing Date: 2025-01-30
Form: 424B3
Chunk 35
---
, Patria intends to continue to comply
with the Nasdaq rules in lieu of following home country practice.

Anti-Takeover Provisions in Our Articles of Association

Some provisions of the Articles
of Association may discourage, delay or prevent a change in control of Patria or management that shareholders may consider favorable.
In particular, the capital structure of Patria concentrates ownership of voting rights in the hands of Patria Holdings. These provisions,
which are summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions are
also designed to encourage persons seeking to acquire control of Patria to first negotiate with the board of directors. However, these
provisions could also have the effect of discouraging others from attempting hostile takeovers and, as a consequence, they may also inhibit
temporary fluctuations in the market price of the Class A common shares that often result from actual or rumored hostile takeover
attempts. These provisions may also have the effect of preventing changes in the management of Patria. It is possible that these provisions
could make it more difficult to accomplish transactions that shareholders may otherwise deem to be in their best interests.

Two Classes of Common Shares

The Class B common shares
of Patria are entitled to 10 votes per share, while the Class A common shares are entitled to one vote per share. Since Patria
Holdings beneficially owns all the Class B common shares, Patria Holdings has the ability to elect a majority of the members of our
board of directors and to determine the outcome of most matters submitted for a vote of shareholders. This concentrated voting control
could discourage others from initiating any potential merger, takeover, or other change of control transaction that other shareholders
may view as beneficial.

So long as Patria Holdings
has the ability to determine the outcome of most matters submitted to a vote of shareholders as well as the overall management and direction
of Patria, third parties may be deterred in their willingness to make an unsolicited merger, takeover or other change of control proposal,
or to engage in a proxy contest for the election of directors. As a result, the fact that Patria has two classes of common shares may
have the effect of depriving you as a holder of Class A common shares of an opportunity to sell your Class A common shares at
a premium over prevailing market prices and make it more difficult to replace the directors and management of Patria.

<div align='center'>19</div>

Preferred Shares

Patria’s board of directors
is given wide powers