PAX Release

Published: 2025-05-02 11:43:36 ET

EX-99.2 3 a20251qearningspresentat.htm EX-99.2 a20251qearningspresentat

PATRIA INVESTMENTS (NASDAQ: PAX) 1Q25 Earnings Presentation May 2, 2025

Disclaimer PAX 1Q25 Earnings Presentation

Patria Reports First Quarter 2025 Results PAX 1Q25 Earnings Presentation Conference Call Dividends Shareholder Relations Contact About Patria

Patria’s First Quarter IFRS Results PAX 1Q25 Earnings Presentation IFRS Net Income attributable to Patria was $13.6 million for 1Q25

Message from Patria’s CEO PAX 1Q25 Earnings Presentation

Patria’s First Quarter 2025 Summary PAX 1Q25 Earnings Presentation

• • • • • • • • • • • • Patria’s First Quarter 2025 Summary PAX 1Q25 Earnings Presentation

Regional and Company Positioning in an Uncertain World PAX 1Q25 Earnings Presentation • • • • • • Latam becoming a more attractive destination for capital as our diversified model enhances our resiliency

(US$ in millions) 1Q24 4Q24 1Q25 Patria’s First Quarter 2025 Earnings PAX 1Q25 Earnings Presentation Distributable Earnings (“DE”) of $36.8 million in 1Q25

(US$ in millions) 1Q24 4Q24 1Q25 Fee Related Earnings (“FRE”) PAX 1Q25 Earnings Presentation • • • •

Net Accrued Performance Fees for Drawdown Funds PAX 1Q25 Earnings Presentation US$ 368 mn Net Accrued Performance Fees • • • 1Q25 Composition by Fund 1Q24 4Q24 PE V (2015) PE VI (2019) IS IV (2018) IS III (2013) Others1 1Q25 Before Realization Realized Perf. Fee 1Q25

Fundraising PAX 1Q25 Earnings Presentation • • • (US$ in millions) Private Equity Infrastructure Credit Public Equities Real Estate GPMS Total

Total Assets Under Management PAX 1Q25 Earnings Presentation Fair Value of Investments Uncalled Capital ++43% $32.0bn $45.8bn 1Q24 1Q25 • • Pending FEAUM

PAX 1Q25 Earnings Presentation $23.9bn $35.0bn Fee Earning Assets Under Management 1Q25 Mgmt. Fee Revenue Breakdown Per Strategy +46% 1Q24 1Q25 • •

Asset Class FEAUM by Structure Fee Basis Frequency of NAV Calculation Duration Currency Exposure Hard / Soft (%) Effective Mgmt. Fee Rate Private Equity Infrastructure Credit Real Estate Public Equities GPMS Key Fee Characteristics By Investment Vertical PAX 1Q25 Earnings Presentation

Private Equity Infrastructure Credit Public Equities Real Estate GPMS Total Private Equity Infrastructure Credit Public Equities Real Estate GPMS Total Total AUM Roll Forward PAX 1Q25 Earnings Presentation

Private Equity Infrastructure Credit Public Equities Real Estate GPMS Total Private Equity Infrastructure Credit Public Equities Real Estate GPMS Total Total FEAUM Roll Forward PAX 1Q25 Earnings Presentation

(in Thousands, Except Where Noted) Committed Capital Deployed + Reserved Total Invested Unrealized Investments Realized Investments Total Value Net Returns Fund (Vintage) Total (USD) % Value (USD) Value (USD) Value (USD) Value (USD) Gross MOIC (USD) Net IRR (USD) Net IRR (BRL) Investment Performance – Drawdown Funds PAX 1Q25 Earnings Presentation

As of Mar 25 Returns in local currency - Since Inception Ticker Fund Name Strategy Inception Year Functional Currency AUM M (Functional Currency) AUM M (USD) Total Return (Annualized) Market Comparison IFIX (BR)1 / IPC(COL) (Annualized) Investment Performance – REITs PAX 1Q25 Earnings Presentation

Asset Class Strategy Functional Currency Strategy AUM (USD mn) YTD Compounded Annualized Net Returns Excess Return Since Incept.1yr 3yr 5yr Since Incep. Credit Public Equities GPMS Investment Performance – Credit, Public Equities & GPMS PAX 1Q25 Earnings Presentation

Reconciliations & Disclosures PAX 1Q25 Earnings Presentation

Share Summary PAX 1Q25 Earnings Presentation (US$ in millions) 1Q24(1) 2Q24(2) 3Q24 4Q24(3) 1Q25(4)

Patria’s Earnings – 5 Quarter View PAX 1Q25 Earnings Presentation (US$ in millions) 1Q24 2Q24 3Q24 4Q24 1Q25 FY 2022 FY 2023 FY 2024

Reconciliation of IFRS to Non-GAAP Measures PAX 1Q25 Earnings Presentation (US$ in millions) 1Q24 2Q24 3Q24 4Q24 1Q25 FY 2022 FY 2023 FY 2024

IFRS Balance Sheet PAX 1Q25 Earnings Presentation (US$ in millions) 31-Dec-24 31-Mar-25 31-Dec-24 31-Mar-25

Notes PAX 1Q25 Earnings Presentation

Notes PAX 1Q25 Earnings Presentation

Definitions PAX 1Q25 Earnings Presentation

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329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.