Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 49

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 49
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 taxable year.

<div align='center'>S-27</div>

If we are a PFIC for any taxable year during which
a U.S. investor holds Class A common shares, we generally would continue to be treated as a PFIC with respect to that U.S. investor for
all succeeding years during which the U.S. investor holds Class A common shares, even if we ceased to meet the threshold requirements
for PFIC status. Such a U.S. investor may be subject to adverse U.S. federal income tax consequences, including (1) the treatment of any
gain on disposition of the Class A common shares as ordinary income; (2) the application of a deferred interest charge on any such gain
and the receipt of certain dividends; and (3) compliance with certain reporting requirements. A “mark-to-market” election
may be available that will alter the consequences of PFIC status if our Class A common shares are regularly traded on a qualified exchange.
For further discussion, see “Taxation—U.S. Federal Income Tax Considerations.”

<div align='center'>S-28

Cautionary Statement
Regarding Forward-Looking Statements</div>

This prospectus supplement, the accompanying prospectus
and the documents incorporated by reference herein and therein contain estimates and forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. In addition, from time to time we or our representatives have made or may make forward-looking
statements orally or in writing. Furthermore, such forward-looking statements may be included in various filings that we make with the
SEC or press releases or oral statements made by or with the approval of one of our authorized executive officers. These forward-looking
statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to
differ materially from those reflected in these forward-looking statements.

These estimates and forward-looking statements
are based mainly on our current expectations and estimates of future events and trends that affect or may affect our business, financial
condition, results of operations, cash flow, liquidity, prospects and the trading price of our Class A common shares. Although we
believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to many significant
risks, uncertainties and assumptions and are made in light of information currently available to us.

These statements appear throughout this prospectus
supplement and include statements regarding our intent, belief or current expectations in connection with:

| · | our ability to adapt