Patria Capital Partners LLP

Item 5 – Fees and Compensation

The basis of the management fees are described fully in the limited Fund agreements of each vehicle, copies
of which are agreed with each limited partner prior to their admission as a limited partner. These amounts are
paid by each fund quarterly in advance to the manager. These are calculated on a variety of bases depending
upon the product, including (i) drawn/undrawn amounts (ii) amounts invested (iii) total commitment amount
(iv) Net Asset Value. Fees for non-discretionary advisory mandates are agreed with the client and included in
the advisory agreement. Due to the limitations on liquidity within LPs (as set out in each limited Fund
agreement) there are no early redemption provisions for investors.

Abrdn Private Equity Opportunities Trust plc (“APEOT”)

Under the terms of the investment management agreement between APEOT and Patria Capital, Patria Capital
is entitled to receive an investment management fee of 0.95% per annum of shareholders’ funds. The fee is
payable quarterly and is calculated on the basis of shareholders’ funds at the end of each quarter.

Investors in the Funds will pay management fees as well as other administration expenses incurred by the Fund
in accordance with the relevant legal documentation. These may include depository, custody, legal,
accounting, and other relevant expenses.

Patria Capital may receive transaction fees, abort fees or other investment related fees from actual or
prospective portfolio companies. Any amount received will be for the account of Patria Capital, but will be
credited against and reduce the management fees in accordance with the relevant Fund agreement.

When the Funds make commitments to underlying fund investments, management fees will be charged by
underlying fund investments. These fees potentially impact the returns of Patria Capital’s LP and ultimately
returns to investors. This is inherent in a fund-of-funds structure in any asset class.

Costs which are controlled by Patria Capital and paid by clients are considered in light of Patria Capital’s
fiduciary duty to its clients.

The compensation of Supervised Persons of Patria Capital is not based directly on the value of security
transactions.

Private Market Funds

Investors and prospective investors should review the confidential private placement memorandum, limited
Fund agreement and other governing documents (collectively, the “Governing Documents”) of each Fund in
conjunction with this brochure for complete information on the fees and compensation payable with respect to
that particular Fund. Funds include private equity, venture capital, real assets fund of funds, and private credit.
Different Funds and advisory accounts may be subject to different management fees and performance-based
compensation arrangements. In certain circumstances, the advisory fees payable to Patria Capital by individual
investors are negotiable and waived for certain investors. Investors and prospective investors in each Fund
should note that similar advisory services may (or may not) be available from other investment advisers for
similar or lower fees.

Preliminary expenses incurred in relation to or in connection with the establishment of the Funds, including
but not limited to travel, legal and regulatory costs, accountancy, printing, postage, and other costs shall be
payable to placement agents, brokers and intermediaries which shall be borne by the Manager or its Associates,
provided that the aggregate amount of such preliminary expenses for which the Fund shall be responsible
(excluding any applicable VAT thereon for which the Fund is responsible) shall not exceed the Fund’s
Proportion of the aggregate of $400,000 and 0.20% of Total Commitments together with any VAT due which
shall be payable in addition; and
(b) all expenses, direct or indirect, incurred in relation to the administration and business of the Fund together
with any VAT due which shall be payable in addition thereon, including, without limitation, costs of printing
and circulating reports and notices, all introduction and similar fees, Abort Costs, legal fees, the fees and
expenses of the Depositary and any custodian or nominee of the Fund Assets, administrators’, auditors’

and valuers’ fees, registration fees, accounting expenses (including any expenses associated with the
preparation of the Fund’s financial statements and tax returns), fees and expenses incurred in relation to the
Advisory Committee, establishment and ongoing fees and expenses of any conduit entity, external consultants’
fees, advertising costs, bank charges, costs of meetings of Investors, insurance costs, borrowing costs, hedging
costs, extraordinary expenses (such as litigation), costs of any restructuring of the Fund or interests in Portfolio
Funds, costs associated with compliance with the AIFMD and with any regulations applicable or relating to
the Fund and its operation, taxes, duties, fees and governmental charges incurred by the Fund and all stamp
duties, costs associated with the liquidation of the Fund and fees of lawyers, auditors, valuers and any external
consultants arising in respect of identifying, evaluating, negotiating, acquiring, holding, monitoring, protecting
and realizing interests in Portfolio Funds; provided that the Fund shall not be responsible for disbursements in
respect of: (i) overheads of the general partner or of the Manager properly payable by the general partner from
the Management Profit Share including remuneration and expenses paid to their employees, rent and utilities
expenditure and costs associated with compliance with the AIFMD and other regulations applicable or relating
to the internal operations of the Manager; or (ii) expenses recovered from Portfolio Funds in which the Fund
has made (or proposes to make) an investment; or (iii) any expenses or fees payable to any external consultants
...

Item 7 – Types of Clients

Clients

Patria Capital manages assets on behalf of:

    •     Limited Fund vehicles (“LPs”)
    •     An investment company which is traded publicly on the London Stock Exchange - Abrdn Private
          Equity Opportunities Trust plc (“APEOT”).
    •     Certain non-US clients on a non-discretionary basis.

Patria Capital has a global investor base. Types of investors include pension funds, insurance companies,
banks, endowments and other qualified investors. The requirements for opening any account will vary
depending on the type of product and type of client. We have minimum account size requirements for certain
accounts which may be waived at our discretion. Minimum investments for each private fund are described in
Part 1 of Form ADV.