Patria Investments Limited · NASDAQ:PAX

Patria Investments — Merger or Acquisition (December 2023)

9 slides from Patria Investments's merger presentation, Dec 6, 2023

  1. Slide 1: Patria Signs Agreement to Acquire Credit Suisse's Real Estate Business in Brazil

    1 Patria Investments (Nasdaq: PAX) Patria Signs Agreement to Acquire Credit Suisse's Real Estate Business in Brazil (“CSHG Real Estate”) DECEMBER 6, 2023

  2. Slide 2: Disclaimer and Forward Looking Statements

    This presentation is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any securities of Patria Investments Limited. The information contained herein does not purport to be all-inclusive. The data contained he

  3. Slide 3: Transaction Summary

    3 Transaction Summary Key Transaction Details Management Timing ▪ Total consideration of up to R$ 650 million (~US$ 130 million) payable in cash to the seller ▪ R$ 300 million (~US$ 60 million) due upon completion of standard regulatory approvals and deferred payment of up to R$ 350 million (~US$ 70

  4. Slide 4: The Evolution of Patria's Real Estate Platform Since IPO

    4 The Evolution of Patria’s Real Estate Platform Since IPO (1) Subject to standard regulatory approvals, as well as shareholder approvals in each of the underlying funds Prior to IPO Patria reorganized its Real Estate platform to focus on REITs (permanent capital) to leverage the financial deepening

  5. Slide 5: Platform Overview

    5 CSHG Real Estate Platform Overview (1) Index for REITs traded at B3; (2) FX (USD/BRL): 5.00. Information as of September 30, 2023 Overview ▪ Started in 2003, Credit Suisse Brazil Real Estate (“CSHG Real Estate”) is currently one of the top 5 largest REIT players in Brazil with an AUM of R$12 billi

  6. Slide 6: Fund Details

    6 CSHG Real Estate Fund Details Ticker Fund Name Launch Strategy Book Value (US$ mn) Book Value (R$ mn) Market Value (R$ mn) HGLG CSHG Logística FII May 2010 Logistics 1,035 5,174 5,343 HGRU CSHG Renda Urbana FII Apr 2018 Retail 454 2,272 2,380 HGRE CSHG Real Estate FII Apr 2008 Office 366 1,829 1,4

  7. Slide 7: Brazilian REIT Market Opportunity

    7 Brazilian REIT Market Opportunity 35% 15%13% 12% 9% 7% 7% 2% Receivables Logistics Others¹ Corporate buildings Shopping malls FoF Diversified Development 19 37 63 20 6 61 25 29 ~R$ 161 bn (~$33 bn) Listed REITs by segment - Active Mgmt. (% of AUM, # of Funds, Aug/23) (% of AUM, # of Funds, Aug/23)

  8. Slide 8: Patria Pro Forma FEAUM: Delivering on Growth & Diversification

    8 Patria Pro Forma FEAUM: Delivering on Growth & Diversification Global Private Markets Solutions2Private Equity Infrastructure Credit Public Equities Real Estate 6.6 3.1 5.0 2.7 1.9 1.4 0.7 $21.5Bn Fee Earning AUM 3.3 3.3 1.0 $7.7Bn Others At IPO (4Q20) 3Q23 6.6 3.1 5.0 2.7 5.5 3,4 9.2 2 0.7 2 ~$33

  9. Slide 9: Financial Impact & Financing

    9 Financial Impact & Financing Financial Impact ▪ Funds earn a blended management fee of ~70 bps on Fee Earning AUM of ~US$ 2.4 billion with an expected FRE margin of approximately 50% ▪ Transaction expected to be accretive to Patria’s Fee Related Earnings and Distributable Earnings in 2025 pending

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