Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 105

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 105
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or (2) upon the election of the holders of a majority of the then outstanding Class B common shares, all outstanding Class B common shares
may be converted into a like number of Class A common shares. In addition, each Class B common share will convert automatically into one
Class A common share upon any transfer, whether or not for value, except for certain transfers described in our Articles of Association,
including transfers to affiliates, transfers to and between the existing holders of Class B common shares. Furthermore, each Class B common
share will convert automatically into one Class A common share and no Class B common shares will be issued thereafter if, at any time,
the outstanding Class B common shares represent less than 10% of the total number of all Class A common shares and Class B common shares
then outstanding.

Our Class A common shares are not convertible
into Class B common shares under any circumstances.

Equal Status

Except as expressly provided in dLocal’
Articles of Association, Class A common shares and Class B common shares have the same rights and privileges and rank equally, share ratably
and are identical in all respects as to all matters. In the event of any merger, consolidation, scheme, arrangement or other business
combination requiring the approval of our shareholders entitled to vote thereon (whether or not dLocal is the surviving entity), the holders
of Class A common shares shall have the right to receive, or the right to elect to receive, at least the same form of consideration as
the holders of Class B common shares, and the holders of Class A common shares shall have the right to receive, or the right to elect
to receive, the same amount of consideration on a per share basis as the holders of Class B common shares. In the event of any (1) tender
or exchange offer to acquire any Class A common shares or Class B common shares by any third party pursuant to an agreement to which dLocal
is a party, or (2) tender or exchange offer by dLocal to acquire any Class A common shares or Class B common shares, the holders of Class
A common shares shall have the right to receive, or the right to elect to receive, the same form of consideration as the holders of Class
B common shares, and the holders of Class A common shares shall have the right to receive, or the right to elect to receive, the same
amount of consideration on a per share basis as the holders of Class B common shares.

Record Dates

For the purpose of determining shareholders entitled