Patria Private Equity Europe Limited

Item 5 – Fees and Compensation

The basis of the management fees are described fully in the limited partnership 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
partnership agreement) there are no early redemption provisions for investors.

Private Market Funds

Investors and prospective investors should review the confidential private placement memorandum, limited
partnership 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 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 PE 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, 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 a Fund’s 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
in respect of investment management services that the Manager has agreed to provide to the Fund pursuant to
the management agreement; of any expenses incurred in relation to the administration of the Fund.

Neither Patria PE nor any of its affiliates receive any compensation as broker or agent for the sale of securities
or other investment products to any Fund. Please refer to the subsection titled “Economic Benefits Received
from Third Parties” in Item 14 below for information on other types of compensation that Patria PE may
receive with respect to investments by the Funds or separate account clients.

Factors Patria PE may consider in negotiating fees or other terms to which any investor may be subject may
include, without limitation, the nature of the services required, the extent of reporting or other administrative

services required, the type of assets invested, the amount of assets invested, Patria PE’s prior relationship with
the applicable investor or its affiliates, other investments with Patria PE by the applicable investor or its
affiliates, the other terms to which the investor’s investment with Patria PE would be subject and the impact
such special terms might have on other investors.

We may invest client assets in funds which we or an affiliate may also advise.

For an additional discussion of brokerage and other transaction costs, please refer to Item 12 - Brokerage
Practices of this Brochure.

Item 7 – Types of Clients

Clients
Patria PE manages assets on behalf of:

    •   Limited Fund vehicles (“LPs”)
    •   Certain non-US clients on a non-discretionary basis.

Patria PE 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.