Patria Investments (PAX) investor relations material

Executive summary

• Raised $2.3 billion in Q2 2026, totaling $4.5 billion year-to-date, on track to exceed the $7 billion full-year target and potentially surpass the 2025 record of $7.7 billion.

• Fee-earning AUM reached $48.9 billion, up 7% sequentially and 32% year-over-year, driven by organic growth, acquisitions, and positive investment performance.

• Distributable earnings per share rose 31% year-over-year and 19% sequentially to $0.32.

• Diversification of strategies and geographies has strengthened earnings resilience, with $11 billion in permanent capital and 90% of fee-earning AUM in vehicles with limited or no redemption rights.

• Total AUM grew 28% year-over-year to $62.1 billion.

Financial highlights

• Fee-related earnings (FRE) for Q2 were $57.1 million, up 24% year-over-year and 13% sequentially, with a margin of 54%.

• Total fee revenues reached $105.8 million, up 30% year-over-year and 14% sequentially, including $1.5 million in catch-up fees from SOF V's final close.

• Management fees increased 28% year-over-year to $103.7 million.

• IFRS net income attributable to shareholders was $10.5 million for Q2 2026.

• Dividend declared: $0.1625 per share, payable September 14, 2026.

Outlook and guidance

• On track to achieve full-year 2026 FRE guidance of $225–$245 million, or $1.42–$1.54 per share, representing 11%-21% growth over 2025; 2027 FRE target is $260 million-$290 million.

• FRE margin for 2026 expected to be modestly below the 58%-60% target due to timing of acquisitions, but confidence remains for 2027 and beyond.

• Fundraising momentum and diversified asset base support confidence in achieving 2026 and 2027 objectives.