Financial Performance - Patria reported IFRS Net Income attributable to shareholders of $225 million for 3Q25[23] - Distributable Earnings (DE) reached $469 million in 3Q25, a 34% increase compared to 3Q24 and a 21% increase compared to 2Q25[38] - DE per share was $030 in 3Q25, up 31% year-over-year and 22% sequentially[38] - Fee Related Earnings (FRE) totaled $495 million in 3Q25, a 22% increase compared to 3Q24[37] - Management fees amounted to $870 million in 3Q25, a 12% increase compared to 3Q24[37] Assets Under Management (AUM) - Total Assets Under Management (AUM) reached $512 billion as of quarter-end, a 15% increase from 3Q24[37] - Fee Earning AUM (FEAUM) was $388 billion, up 14% from 3Q24[37] - Net Accrued Performance Fees stood at $402 million as of September 30, 2025, or $254 per share[37] Corporate Actions and Fundraising - Patria declared a quarterly dividend of $015 per common share[37] - Total fundraising reached $15 billion in 3Q25[37] - Total deployment in drawdown funds was $751 million in 3Q25[37]

Exhibit 99.2 November 4, 2025 PATRIA INVESTMENTS (NASDAQ: PAX) 3Q25 Earnings Presentation PAX 3Q25 Earnings Presentation Disclaimer PATRIA meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by the use of words such as "outlook." "indicator." "believes, "expects," "potential," "continues," "may," "will," "could, "should," "seeks," "approximately," "predicts," "intends," "plans, ...

Core Insights - Patria Investments reported quarterly earnings of $0.3 per share, exceeding the Zacks Consensus Estimate of $0.26 per share, and showing an increase from $0.23 per share a year ago, resulting in an earnings surprise of +15.38% [1] - The company achieved revenues of $84.6 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.81% and up from $75.9 million year-over-year [2] - Patria Investments shares have increased by approximately 25.4% since the beginning of the year, outperforming the S&P 500's gain of 16.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.48 on revenues of $101.46 million, and for the current fiscal year, it is $1.22 on revenues of $342.25 million [7] - The estimate revisions trend for Patria Investments was favorable ahead of the earnings release, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Financial - Investment Management industry, to which Patria Investments belongs, is currently in the top 30% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Insights - Patria achieved a significant milestone with Assets under Management (AUM) surpassing US$50 billion, which is over 3.5 times higher than the AUM at the time of its IPO in 2021 [2] - The company raised over US$1.5 billion in the third quarter and US$6 billion year-to-date, indicating strong growth momentum and a trajectory to exceed its full-year fundraising target of US$6.6 billion [2] - Distributable Earnings for Q3 2025 were reported at US$46.9 million, or US$0.30 per share, reflecting a 31% increase year-over-year [3] Financial Performance - Patria reported a net income of US$22.5 million attributable to the company in Q3 2025 [3] - Fee Related Earnings (FRE) reached US$49.5 million in Q3 2025, a 22% increase from US$40.6 million in Q3 2024, with an FRE margin of 58.5% [3] - The company declared a quarterly dividend of US$0.15 per share, payable on December 12, 2025, to shareholders of record as of November 14, 2025 [4] Company Overview - Patria is a global alternative asset management firm focused on mid-market segments, with a strong presence in Latin America and Europe [6] - The firm specializes in various asset classes including Infrastructure, Credit, Real Estate, Private Equity, and Public Equities, targeting sectors such as Agribusiness, Power & Energy, and Healthcare [7] - With 37 years of experience and over US$51 billion in AUM, Patria aims to deliver attractive returns while promoting sustainable development in its operational regions [6]

Core Insights - The company has released its latest top investment picks for November 2025, emphasizing the timing for potential investors to join and access these opportunities [1] - The company invests significant resources, over $100,000 annually, into researching profitable investment opportunities to provide high-yield strategies at a lower cost [1] - The approach has garnered over 190 five-star reviews from satisfied members, indicating a positive reception and effectiveness of the investment strategies [2]

Core Insights - The company has released its latest top investment picks for November 2025, emphasizing the timeliness of joining to access these opportunities [1] - The company invests significant resources, over $100,000 annually, into researching profitable investment opportunities to provide high-yield strategies [1] Member Satisfaction - The company's approach has garnered over 190 five-star reviews from satisfied members, indicating a positive reception and effectiveness of their strategies [2] - Members are encouraged to join now to start maximizing their returns, highlighting the potential benefits of membership [2]

Core Insights - Patria Investments (NASDAQ: PAX) has shown strong double-digit growth in assets under management (AUM) and earnings, transitioning towards a more shareholder-focused model, yet the stock performance remains flat despite macroeconomic developments [1] Company Overview - Patria Investments has been delivering robust growth in AUM and earnings, indicating a positive trend in financial performance [1] - The company is shifting its focus towards enhancing shareholder value, which may attract more investors in the long term [1] Analyst Background - The analyst has over 10 years of experience researching various companies across multiple sectors, including commodities and technology, which provides a solid foundation for evaluating investment opportunities [2] - The analyst has transitioned from writing a blog to creating a value investing-focused YouTube channel, further expanding the reach and depth of company research [2] Investment Position - The analyst currently holds no positions in PAX but may consider initiating a long position in the near future, indicating potential interest in the stock [3]

Core Insights - Patria will release its financial results for Q3 2025 on November 4, 2025, and will host a conference call at 9:00 a.m. ET [1] - The firm specializes in mid-market alternative asset management, focusing on resilient sectors in Latin America and Europe [2] Company Overview - Patria is a leading asset manager in Latin America with over $48 billion in assets under management and 37 years of experience [2] - The company emphasizes long-term investments that promote inclusive and sustainable development in its operating regions [2] Investment Focus - Patria's asset classes include Private Equity, Credit, Real Estate, Infrastructure, and Public Equities [3] - Key sectors of investment are Agribusiness, Power & Energy, Healthcare, Logistics & Transportation, Food & Beverage, and Digital & Tech Services [3] - The investment regions include Latin America, Europe, and the U.S. [3]

Core Insights - PAX Health, a prominent player in the behavioral healthcare sector, has announced its acquisition of Neuropsychology and Counseling Associates, expanding its service offerings in New Jersey [1] Company Summary - PAX Health is backed by HCAP Partners and funds managed by Hamilton Lane, indicating strong financial support and investment in the behavioral healthcare industry [1] - The acquisition targets a comprehensive outpatient mental health practice that serves a diverse demographic, including children, adolescents, adults, and families [1] Industry Context - The acquisition reflects a growing trend in the behavioral healthcare industry towards consolidation, aiming to enhance service delivery and accessibility for mental health services [1]

Group 1 - The event is the third edition of PAX Talks, focusing on Patria's Global Private Market Solutions (GPMS) and its approach to generating Alpha in middle market private equity [1][2] - Andre Medina leads the Shareholder Relations at Patria and introduces the session, while Charles Keenan, with a background in public markets portfolio management, will lead the Q&A [1] - Merrick Mckay, a partner and head of Private Equity for GPMS, has over 30 years of experience in the European private equity industry and is involved in various advisory roles [2] Group 2 - The format of the event is a fireside chat Q&A, allowing participants to submit questions for discussion [3] - There is a reminder regarding forward-looking statements, indicating that the information shared may not guarantee future performance [3][4]