Key Information Document Purpose: This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. Ordinary shares in Patria Private Equity Trust plc ISIN: GB0030474687, Website: www.patriaprivateequitytrust.com, Document published: 09/12/2024 This product is managed by Patria Capital Partners LLP, a firm authorised and regulated by the Financial Conduct Authority in the United Kingdom.What is this product? by the Company are determined by the performance of these underlying investments. The Company's policy is Type to invest in approximately 50 'active' private equity fund Ordinary shares in a closed-ended investment company investments which are selected to provide a broadly registered in Scotland, with Investment Trust status, which diversified portfolio by country, industry, sector, maturity is listed on the London Stock Exchange. Shares of Patria and number of underlying investments. The Company Private Equity Trust plc (the “Company”) are bought and may invest up to 25% of its total assets in co-investments. sold via markets. At any time, the price you would pay to To maximise the proportion of invested assets it is the acquire a share will normally be higher than the price at Company's policy to follow an over-commitment strategy which you could sell it. The price may be at a premium or by making fund commitments which exceed its available discount to the net asset value of the Company. cash and committed credit facilities. Term The Company has a borrowing facility which is used from time to time for short term working capital purposes The Company does not have a fixed life but may may rather than long term structural gearing. be wound up with shareholder approval, subject to compliance with relevant legal and regulatory Intended Retail Investor requirements. Patria Capital Partners LLP may not Investors with basic investment knowledge. Investors unilaterally terminate the Company. who understand the basics of buying and selling shares in Objectivesstockmarket listed companies and the way these shares are valued. Investors who can accept large short term The Company's investment objective is to achieve long- losses. Investors wanting a return (growth) over the longer term total returns through holding a diversified portfolio of term (5 years or more). The Company has specific and private equity funds and direct investments into private generic risks with a risk rating as per the risk indicator. companies alongside private equity managers ("co- The Company is intended for general sale to retail and investments"), a majority of which will have a European professional investors through all distribution channels focus. Private equity funds, in turn, make investments with or without professional advice. into private companies and the investment returns made What are the risks and what could I get in return? Risk Indicator Lower risk Higher risk1 2 3 4 5 67 The risk indicator assumes you keep the product for 5 We have classified this product as 6 out of 7, which is the years. The actual risk can vary significantly if you sell it at second-highest risk class. This rates the potential losses an earlier stage. The value of investments and the income from future performance at a high level, and poor market from them can go down as well as up, and you may get conditions are very likely to impact our capacity to pay back less than you invested. you. The summary risk indicator is a guide to the level of riskFurther information on risks is detailed in the Company's of this product compared to other products. It shows annual report available in the literature library on how likely it is that the product will lose money because of www.patriaprivateequitytrust.com. movements in the markets or because the Company is not able to pay you.1 This product does not include any protection from future What could affect my return negatively? market performance so you could lose some or all of your Poor fund or company selection may lead to negative investment. relative performance. Negative market sentiment could The Company borrows/ may borrow in order to purchase see valuations of private companies fall faster than those assets, and this may magnify gains or losses. Shares of publicly-listed equities. Movements in exchange rates in the Company may trade at a discount to their Net relative to Sterling may affect returns. Changes in political, Asset Value, which may adversely affect the value of geopolitical or market conditions may cause declines in your investment, particularly when you come to sell your the value of investments. When UK or European private shares. companies are particularly out of favour relative to other markets this could lead to underperformance of the Company relative to companies invested in other markets. Investment performance information Gearing may also reduce returns relative to the Index, The Company commits to private equity funds on a particularly if interest rates are high or rising. Worsening primary basis, acquires private equity fund interests in sentiment towards the Company and/or to the sector the secondary market and makes direct investmentsmay lead to a widening of the discount of the share price into private companies via co-investments (investments to the NAV, or a decrease in the premium of the share alongside other private equity managers). Theprice to the NAV. The Company may have to fund further performance of the Company is liable to be affected by commitments at a time when it has little cash and/or the economic background, the performance of underlying financing from alternative sources is scarce. holdings and market views on the valuations of private The Company is a listed Investment Company and is not companies. In addition, investment styles may be in, subject to redemptions / subscriptions. However, in the or out of, favour. Fluctuations in exchange rates could event that the Company is wound up under severely affect returns. The Company may borrow to invest and adverse market conditions, the reported NAV at the time this could magnify gains and losses. The share price doesof the decision may significantly overstate the realisable not always reflect the underlying net asset value (NAV), value of the portfolio meaning that the amounts distributed variations in the relative movements in the share price per share may be less than the reported NAV. Demand relative to the NAV could affect returns. Capital calls couldfor private funds and companies in such a scenario may exceed current cash levels. For more detail see the Annual be limited which may affect the degree of discount that Report's Principal Risks and Uncertainties section. would be end up being applied. The Company currently The Company uses the FTSE All-Share Index as a has borrowings which would need to be repaid prior to any Comparator Index as many shareholders compare thedistribution to shareholders. The repayment cost may be Company's performance with that of the UK equity above the carrying value in the accounts and penalties may market. However, the portfolio is invested in private equity also be applied for early repayment. funds investing in companies from all over the world and companies whose performance could diverge significantlly What happens if the Company is unable from listed equities. Performance and volatility can be expected to vary significantly, both positively and to pay out? negatively, from that of the Comparator Index. As a shareholder of the Company you would not be able to make a claim to the Financial Services Compensation What could affect my return positively? Scheme in the event that the Company is unable to pay Good selection of funds or companies may deliver positiveany dividends due to you, or if it were unable to pay any relative performance. Positive market sentiment couldamounts due to you on the winding up of the Company. see valuations of private companies rise faster than those of publicly-listed equities. Movements in exchange rates What are the costs? relative to Sterling may affect returns. Changes in political, This disclosure has been prepared with reference to the geopolitical or market conditions may increase the value Financial Conduct Authority’s Statement on forbearance of investments. When UK or European private companies in relation to investment trust disclosure requirements are particularly in favour relative to other markets this dated 19 September 2024. It does not seek to comply with could lead to outperformance of the Company relative the requirements of the UK PRIIPS Regulation in all to companies invested in other markets. Gearing may respects. The Reduction in Yield (RIY) shows what impact also enhance returns relative to the Index, particularly the total costs you pay will have on the investment return if interest rates are low or falling. Improving sentiment you might get. The total costs take into account one-off, towards the Company and / or to the sector may lead to a ongoing and incidental costs. We have not included narrowing of the discount of the share price to the NAV, or administration expenses, transaction costs or finance an increase in the premium of the share price to the NAV. costs incurred by the Company (which are disclosed in the Company’s Annual Report and Accounts and Statement of expenses. 2 which can be found by clicking here) as well as If so, this person will provide you with information about lookthrough costs which are accounted for within thethese costs, and show you the impact that all costs will valuation of each investment held by the Company's have on your investment over time. portfolio. This is on the basis that the return that you may Costs over time receive will depend on the Company’s share price performance, and there is no direct link between the Investment 10,000.00 GBP Company’s share price and the expenses that it incurs (though those expenses, together with other market If you cash inIf you cash in If you cash in Scenarios after 1 year after 3 years at 5 years factors, can affect the share price). The amounts shown here are the cumulative costs of the product itself, for Total costs 0.00 GBP 0.00 GBP 0.00 GBP three different holding periods. They include potential Impact on return 0.0% 0.0% 0.0% early exit penalties. The figures assume you invest 10,000 (RIY) per year GBP. The figures are estimates and may change in the future. The person selling you or advising you about this product may charge you other costs. Composition of cost The table below shows the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period and, what the different cost categories mean. One-off costs Entry costs 0.00% No entry costs are payable to the Company or its investment manager when you acquire ordinary shares, although you may be required to pay your own broker fees or commissions. Exit costs 0.00% No exit costs are payable to the Company or its investment manager when you dispose of ordinary shares, although you may be required to pay your own broker fees or commissions. Ongoing costs Portfolio 0.00% No portfolio transaction costs, relating to the buying and selling of underlying investments, are transaction costs payable by you to the Company or its investment manager. You should be aware that portfolio transaction costs are incurred by the Company, as set out in the Company’s Annual Report and Accounts and the Statement of Expenses each of which can be found on the Company’s website. Other ongoing 0.00% No management or advisory fees are payable by you to the Company, its investment manager or costs other service providers including its operations manager. You should be aware that management and advisory costs are incurred by the Company as set out in the Company’s Annual Report and Accounts and the Statement of Expenses each of which can be found on the Company’s website. Incidental costs Performance fees 0.00% The Company does not pay a performance fee. Carried interests 0.00% The Company does not pay carried interest.How long should I hold it and can I takeOther relevant information money out early?The cost and risk calculations included in this KID are Recommended holding period: 5 years.based on prescribed methodologies. The data used in these calculations and the specific methodology This product has no required minimum holding period but applied may change in the future. Depending on how is designed for medium to long-term investment. Since you buy your shares you may incur other costs, including the value of investments and the income from them can broker commission, platform fees and stamp duty. The rise and fall over differing time periods, you should have distributor will provide you with additional documents an investment horizon of at least 5 years when buying anwhere necessary. Further information on the Company's investment of this type.investment policies, the types of assets in which the As the shares are listed on the London Stock Exchange, Company may invest, the markets in which it invests, you may buy or sell shares in the product, without penalty, borrowing limits as well as details of its management, on any normal business day. administration and depositary arrangements can be found in the Company's Annual Report and Investor Disclosure Document on the Company's website How can I complain? (www.patriaprivateequitytrust.com). Paper copies of If you have any complaints about the Company, the these documents are available on request, free of charge, KID or the conduct of the manufacturer, you can refer via the contact details above. to the 'Contact Us' section of the Company's website www.patriaprivateequitytrust.com/contact-us/. Complaints regarding the conduct of the person(s) advising on or selling the product should be addressed to the person(s) or to their organisation.3