Estimated NAV at 31 December 2025

Patria Private Equity Trust plc

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13

5 February 2026

ESTIMATED NET ASSET VALUE AT 31 DECEMBER 2025

Patria Private Equity Trust plc ("PPET" or "the Company") announces its estimated net asset value ("NAV") at 31 December 2025

Estimated NAV

At 31 December 2025, PPET's estimated NAV was 840.2 pence per share (estimated net assets £1,248.5 million)[1], representing a 0.5% per share decrease from the estimated NAV at 30 November 2025 of 844.7 pence per share (estimated net assets £1,255.2 million). The 4.5 pence decrease in NAV per share reflected losses arising primarily from a 0.3% depreciation in the euro versus sterling during December.

Performance

PPET's total return and comparator reference performance as at 31 December 2025 was as follows:

Investment activity

Following its announcement in November 2025, a further eleven interests relating to the Project Captain secondary transaction were transferred to the Company, at a cost of £7.0 million paid in part during December, with the remainder paid post month-end.

A follow-on commitment of £0.3 million was made to the direct investment in Boost AI, a company that specialises in conversational AI solutions for an array of different sectors. The commitment was fully funded during December.

Portfolio cashflows

PPET paid £18.0 million of drawdowns during December, of which £8.7 million related to primary investments, £8.9 million related to secondary funds and £0.3 million related to the direct investments.

Notable drawdowns in the primary investments portfolio during the month included:

PPET received £27.7 million of distributions during December, of which £16.7 million related to primary funds, £6.7 million related to secondaries and £4.4 million related to direct investments. 

Notable realisations during December included:

· Hg Mercury 4: proceeds from the exit of GTreasury, a provider of comprehensive treasury management solutions;

· CDL: dividend proceeds from CDL Nuclear Technologies, a provider of comprehensive cardiac PET (positron emission tomography) and nuclear medicine delivery solutions to independent cardiology practices and hospitals in the US; and

· TI IV R1 CF Exit: receipt of deferred consideration following the sale of R1 RCM by Towerbrook in late 2024.

Commitments

The Company had £734.3 million of outstanding commitments at 31 December 2025. The Manager believes that around £98.9 million of the Company's existing outstanding commitments are unlikely to be drawn.

Credit facility and cash balances

The Company has a £400.0 million syndicated revolving credit facility provided by The Royal Bank of Scotland International Limited, Societe Generale, State Street Bank International GmbH, State Street Bank & Trust Company and Banco Santander, S.A. The facility is due to expire in February 2028. 

The Company drew a total of £13.5 million from the facility during the month of December, increasing the total drawn balance to £163.3 million at 31 December 2025. The remaining undrawn balance of the facility at 31 December 2025 was therefore £236.7 million.

In addition, the Company had cash balances of £40.7 million at 31 December 2025. Accordingly, short term resources, calculated as the total of cash balances, deferred consideration and the undrawn balance of the credit facility, were £277.4 million as at 31 December 2025.

Share Buybacks

The Company did not purchase any of its own shares during December.

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Notes:-

Patria Private Equity Trust plc is an investment company managed by Patria Capital Partners LLP, the ordinary shares of which are admitted to listing by the UK Listing Authority and to trading on the Stock Exchange and which seeks to conduct its affairs so as to qualify as an investment trust under sections 1158-1165 of the Corporation Tax Act 2010.

Additional detail about PPET's NAV and investment diversification can be found on PPET's website (www.patriaprivateequitytrust.com ). Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website is incorporated into, or forms part of, this announcement.