Company: PAX
Filing Date: 2025-01-30
Form Type: 424B3
Source: 0000950103-25-001159
Chunk: 24

Company: Patria Investments Ltd
Filing Date: 2025-01-30
Form: 424B3
Chunk 24
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 Class B common share may be converted
at any time into one Class A common share or (2) upon the election of the holders of a majority of the then-outstanding Class B
common shares, all outstanding Class B common shares may be converted into a like number of Class A common shares. In addition,
each Class B common share will convert automatically into one Class A common share upon any transfer, whether or not for value,
except for certain transfers described in the Articles of Association, including transfers to affiliates, transfers to and between trusts
solely for the benefit of the shareholder or its affiliates, and partnerships, corporations and other entities exclusively owned by the
shareholder or its affiliates. Furthermore, each Class B common share will convert automatically into one Class A common share
and no Class B common shares will be issued thereafter if, at any time, the total number of the issued and outstanding Class B
common shares is less than 10% of the total number of shares outstanding.

No class of Patria’s
common shares may be subdivided or combined unless the other class of common shares is concurrently subdivided or combined in the same
proportion and in the same manner.

Equal Status

Except as expressly provided
in Patria’s Articles of Association, Class A common shares and Class B common shares have the same rights and privileges
and rank equally, share ratably and are identical in all respects as to all matters. In the event of any merger, consolidation, scheme,
arrangement or other business combination requiring the approval of our shareholders entitled to vote thereon (whether or not Patria is
the surviving entity), the holders of Class A common shares shall have the right to receive, or the right to elect to receive, the
same form of consideration as the holders of Class B common shares, and the holders of Class A common shares shall have the
right to receive, or the right to elect to receive, at least the same amount of consideration on a per share basis as the holders of Class B
common shares. In the event of any (1) tender or exchange offer to acquire any Class A common shares or Class B common
shares by any third party pursuant to an agreement to which Patria is a party, or (2) any tender or exchange offer by Patria to acquire
any Class A common shares or Class B common shares, the holders of Class A common shares shall have the right to receive,
or the right to elect to receive, the same form of consideration as the holders of Class