Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 329

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 329
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                     ( 1,243)                     ( 1,807)              
  Interest on loans (refer to note 16)                                              ( 10,020)      —                            —                     
  Net exchange variation                                              —                            ( 614)                       ( 1,350)              
  Other financial expenses                                            ( 1,994)                     ( 1,230)                     ( 847)                
  Total finance expenses                                                            ( 38,499)                    ( 10,665)      ( 4,752)              
  Net financial income/(expense)                                                    ( 20,640)      ( 1,674)                                    8,115  

(a) The income for the financial period 2024 relates to the Tria call option.

(b) The related income is linked to the movement in Lavoro Agro Limited share price - refer to note 12(b) for pertinent details.

(c) The increase in unrealized losses on long-term investments is mainly attributable to a decline in the value of KMP Growth Fund II - refer to note 12(b). The devaluation is partially due to the weaker Brazilian Real against the US Dollar on December 31, 2024.

(d) The SPAC warrant liability was revalued on December 31, 2024. The fair value of the share price amounted to US$ 11.64 11.50 0.63

(e) The year-on-year increase in commission, brokerage and financing expenses is attributable to amortization of commitment fees which are incurred when entering into loan agreements with banks (refer to note 16).

28Income taxes expenses

As an entity headquartered in the Cayman Islands, the Company is subject to a tax neutral regime whereas subsidiaries of the Group headquartered in Brazil, Colombia, Chile, the United Kingdom, the United States of America, and Hong Kong are subject to income taxes as set out by local tax laws.

  Reconciliation of income tax                                       2024                        2023                         2022  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Income before income taxes                                                      85,993                     117,999                
  Impact of difference in tax rates of foreign subsidiaries                    ( 10,006)                       2,681      ( 8,715)  
  Permanent differences                                            ( 300)                         135                          366  
  Total income taxes (a)                                                       ( 10,306)                       2,816      (