Company: PAX
Filing Date: 2025-01-16
Form Type: 424B3
Source: 0000950103-25-000600
Chunk: 29

Company: Patria Investments Ltd
Filing Date: 2025-01-16
Form: 424B3
Chunk 29
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eree 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 dividend
policy, see “Item 8. Financial Information—A. Consolidated Statements and Other Financial Information” in our 2022 Form
20-F.

Subject to the Companies
Act, Patria’s shareholders may, by resolution passed by a simple majority of the voting rights entitled to vote at a general meeting,
declare dividends (including interim dividends) to be paid to shareholders, but no dividend shall be declared in excess of the amount
recommended by the board of directors. The board of directors may also declare dividends. Dividends may be declared and paid out of funds
lawfully available to Patria. Except as otherwise provided by the rights attached to shares and the Articles of Association of Patria,
all dividends shall be paid in proportion to the number of Class A common shares or Class B common shares a shareholder holds
at the date the dividend is declared (or such other date as may be set as a record date); but, (1) if any share is issued on terms
providing that it shall rank for dividend as from a particular date, that share shall rank for dividend accordingly, and (2) where
we have shares in issue which are not fully paid up (as to par value), we may pay dividends in proportion to the amounts paid up on each
share.

The holders of Class A
common shares and Class B common shares shall be entitled to share equally in any dividends that may be declared in respect of