Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 57

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 57
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 to change.

Prospective purchasers of our Class A common shares
should consult their own tax advisors about the particular Cayman Islands and U.S. federal, state, local and other tax consequences to
them of the acquisition, ownership and disposition of our Class A common shares.

Cayman Islands Tax Considerations

The following is a discussion of certain Cayman
Islands tax consequences of an investment in our Class A common shares. The discussion is a general summary of present law, which is subject
to prospective and retroactive change. It is not intended as tax advice, does not consider any investor’s particular circumstances,
and does not consider tax consequences other than those arising under Cayman Islands law.

Under Existing Cayman Islands Laws

Payments of dividends and capital in respect of
our Class A common shares will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of
a dividend or capital to any holder of our Class A common shares, nor will gains derived from the disposal of our Class A common shares
be subject to Cayman Islands income or corporate tax. The Cayman Islands currently has no income, corporate or capital gains tax and no
estate duty, inheritance tax or gift tax.

No stamp duty is payable in respect of the issue
of our Class A common shares or on an instrument of transfer in respect of such shares. An instrument of transfer in respect of a share
is stampable if executed in or brought into the Cayman Islands.

The Company has been incorporated under the laws
of the Cayman Islands as an exempted company with limited liability and, as such, has applied for and received an undertaking from the
Financial Secretary of the Cayman Islands in a form substantially similar to the following:

<div align='center'>“The Tax Concessions Act
(As Revised)
Undertaking as to Tax Concessions</div>

In accordance with the Tax Concessions Act (As
Revised), the following undertaking is hereby given to the Company:

1. That no law which is hereafter enacted
in the Islands imposing any tax to be levied on profits, income, gains or appreciations shall apply to the Company or its operations and

| 2. | In addition, that no tax to be levied on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance 
 tax shall be payable.                                                                                                                    |

| 2.1 | On or in respect of the shares, debentures or other