Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 249

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 249
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 regulated investment companies;

• dealers or traders in securities that use a mark-to-market method of tax accounting;

• persons holding Class A common shares as part of a hedging transaction, straddle, wash sale, conversion transaction or other integrated transaction, or persons entering into a constructive sale with respect to the Class A common shares;

• persons whose functional currency for U. S. federal income tax purposes is not the U. S. dollar;

• tax-exempt entities, including an “individual retirement account” (“ Roth IRA");

• entities classified as partnerships for U. S. federal income tax purposes;

• persons that own or are deemed to own ten percent or more of our stock, by vote or value; or

• persons holding our Class A common shares in connection with a trade or business conducted outside of the United States.

If an entity or arrangement that is classified as a partnership for U. S. federal income tax purposes holds our Class A common shares, the U. S. federal income tax treatment of a partner will generally depend on the status of the partner and the activities of the partnership. Partnerships holding our Class A common shares and partners in such partnerships should consult their tax advisors as to the particular U. S. federal income tax consequences of holding and disposing of the Class A common shares.

This discussion is based on the Code, administrative pronouncements, judicial decisions and final, temporary and proposed Treasury regulations, all as of the date hereof, any of which is subject to change or differing interpretations, possibly with retroactive effect.

A “ U. S. Holder” is a holder who, for U. S. federal income tax purposes, is a beneficial owner of our Class A common shares and is:

• an individual that is a citizen or resident of the United States;

• a corporation, or other entity taxable as a corporation, created or organized in or under the laws of the United States, any state therein or the District of Columbia; or

• an estate or trust the income of which is subject to U. S. federal income taxation regardless of its source.

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U. S. Holders should consult their tax advisors concerning the U. S. federal, state, local and non-U. S. tax consequences of owning and disposing of our Class A common shares in their particular circumstances.

Except where noted, this discussion assumes that we are not, and will not become a PFIC as described below.

Taxation of Distributions

Subject to the discussion