SCHEDULE 13G/A 0001104659-25-010999 0002055657 XXXXXXXX LIVE 1 Class A common shares, par value US$0.0001 per share 09/30/2025 0001825570 Patria Investments Limited G69451105 60 Nexus Way, 4th floor, Camana Bay, PO Box 757 Grand Cayman E9 KY1-9006 Rule 13d-1(c) Endure Capital Management, LLC b TX 0.00 4318863.00 0.00 4318863.00 4318863.00 N 6.6 IA OO The figures included above are based upon 65,021,566 Class A common shares, par value US$0.0001 per share ("Common Stock"), of Patria Investments Limited (the "Issuer"), outstanding as of September 30, 2025, as disclosed in Exhibit 99.2 to the Form 6-K filed on November 4, 2025, by the Issuer with the U.S. Securities and Exchange Commission (the "Form 6-K"). Enduring Alpha Fund, LP b DE 0.00 4318863.00 0.00 4318863.00 4318863.00 N 6.6 PN The figures included above are based upon 65,021,566 shares of Common Stock outstanding as of September 30, 2025, as disclosed in the Form 6-K. Endure Capital GP, LP b TX 0.00 4318863.00 0.00 4318863.00 4318863.00 N 6.6 PN The figures included above are based upon 65,021,566 shares of Common Stock outstanding as of September 30, 2025, as disclosed in the Form 6-K. Ryan Simes b X1 266133.00 4318863.00 266133.00 4318863.00 4584996.00 N 7.1 HC IN The figures included above are based upon 65,021,566 shares of Common Stock outstanding as of September 30, 2025, as disclosed in the Form 6-K. The figures in Items 5, 7, and 9 include 101 shares of Common Stock held through two of the Reporting Person's IRA accounts. Patria Investments Limited 60 Nexus Way, 4th floor, Camana Bay, PO Box 757 Grand Cayman, E9, KY1-9006 This statement is jointly filed by and on behalf of each of Endure Capital Management, LLC, a Texas limited liability company ("Endure Management"), Enduring Alpha Fund, LP, a Delaware limited partnership ("Enduring Alpha Fund"), Endure Capital GP, LP, a Texas limited partnership ("Endure Capital"), and Ryan Simes (collectively referred to herein as "Reporting Persons"). Enduring Alpha Fund is the record and direct beneficial owner of 4,318,863 shares of Common Stock of the Issuer covered by this statement. Endure Capital is the general partner of, and may be deemed to have indirect beneficial ownership of securities owned by, Enduring Alpha Fund. Endure Management is the general partner of Endure Capital and the investment manager of Enduring Alpha Fund and may be deemed to beneficially own securities owned by Enduring Alpha Fund. Mr. Simes is the sole member of, and may be deemed to have indirect beneficial ownership of securities beneficially owned by, Endure Management. Mr. Simes is the record and direct beneficial owner of 266,133 shares of Common Stock of the Issuer covered by this statement. Each Reporting Person disclaims beneficial ownership of the shares of Common Stock held directly by the other Reporting Persons. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement. Each Reporting Person may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purpose of Section 13(d) or 13(g) of the Act. Each of the Reporting Persons declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purpose of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer. The address of the principal business office of each of the Reporting Persons is 6500 River Pl Blvd Building 7, Suite 250, Austin, TX 78730. See Item 4 on the cover page(s) hereto. Y See Item 9 on the cover pages(s) hereto. See Item 11 on the cover page(s) hereto. See Item 5 on the cover pages hereto. See Item 6 on the cover pages hereto. See Item 7 on the cover pages hereto. See Item 8 on the cover pages hereto. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 99.1 - Joint Filing Agreement (filed herewith). Endure Capital Management, LLC /s/ Ryan Simes 11/14/2025 Enduring Alpha Fund, LP Endure Capital GP, LP 11/14/2025 Endure Capital Management, LLC 11/14/2025 /s/ Ryan Simes 11/14/2025 Endure Capital GP, LP Endure Capital Management, LLC 11/14/2025 /s/ Ryan Simes 11/14/2025 Ryan Simes /s/ Ryan Simes 11/14/2025