Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 63

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 63
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 PFICs notwithstanding a mark-to-market election for the Class
A common shares.

In addition, if we become a PFIC for any taxable
year in which we paid a dividend or for the prior taxable year, the preferential dividend rates discussed above with respect to dividends
paid to certain non-corporate U.S. Holders would not apply.

If a company that is a PFIC provides certain information
to U.S. investors, a U.S. investor can then avoid certain adverse tax consequences described above by making a “qualified electing
fund” election to be taxed currently on its proportionate share of the PFIC’s ordinary income and net capital gains. However,
because we do not intend to prepare or provide the information necessary for a U.S. Holder to make a qualified electing fund election,
such election will not be available to U.S. Holders.

If a U.S. Holder owns Class A common shares during
any year in which we are a PFIC, it must generally file an annual report containing such information as the U.S. Treasury may require
on IRS Form 8621 (or any successor form) with respect to us, generally with its federal income tax return for that year.

U.S. Holders should consult their tax advisers
regarding whether we are a PFIC and the potential application of the PFIC rules.

Information Reporting and Backup Withholding

Payments of dividends, and of sales proceeds that
are made within the United States or through certain U.S.-related financial intermediaries, generally are subject to information reporting,
and may be subject to backup withholding, unless a U.S. Holder (i) is a corporation or other exempt recipient; or (ii) in the case of
backup withholding, provides a correct taxpayer identification number and certifies that it is not subject to backup withholding.

Backup withholding is not an additional tax. The
amount of any backup withholding from a payment to a U.S. Holder will be allowed as a credit against its U.S. federal income tax liability
and may entitle it to a refund, provided that the required information is timely furnished to the IRS.

Information with Respect to Foreign Financial Assets

<div align='center'>S-40</div>

Certain U.S. Holders who are individuals (and
certain entities) may be required to report information on their U.S. federal income tax returns relating to an interest in our Class
A common shares, subject to certain exceptions (including an exception for Class A common shares held in accounts