Company: DLO
Filing Date: 2025-09-03
Form Type: F-3ASR
Source: 0000950103-25-011186
Chunk: 15

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: F-3ASR
Chunk 15
---
 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
to notice of, or to vote at any general meeting of shareholders or any adjournment thereof, or shareholders entitled to receive dividend
or other distribution payments, or in order to make a determination of shareholders for any other purpose, dLocal’s board of directors
may set a record date which shall not exceed forty (40) clear days prior to the date where the determination will be made.

General Meetings of Shareholders

As a condition of admission to a shareholders’
meeting, a shareholder must be duly registered as a shareholder of dLocal at the applicable record date for that meeting and, in order
to vote, all calls or installments then payable by such shareholder to dLocal in respect of the shares that such shareholder holds must
have been paid.

<div align='center'>11</div>

Subject to any