Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 56

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 56
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 by the shareholder to the Company. |

| (5) | Held directly and indirectly through Aqua Crystal Investments                                                                             
 Ltd. Information is based on the Schedule 13G/A filed by the shareholder on February 8, 2024, and information provided by the shareholder 
 to the Company.                                                                                                                           |

| (6) | Information is based on the Schedule 13G filed by the shareholder                                                               
 on February 14, 2025. Consists of 14,592,826 Class A common shares held indirectly through Unsal Holdings Limited and 1,753,798 
 Class A common shares held indirectly through St. Bull Financial Services Inc, classified as public float.                      |

| (7) | Held indirectly through Nordau Inc. Information is based on       
 the Schedule 13G/A filed by the shareholder on February 21, 2023. |

| (8) | Mr. Ribeiro, a member of our board of directors, is a managing                                                                       
 director at General Atlantic. Mr. Ribeiro disclaims beneficial ownership of the shares held by GA DO, GA DO SPV and GA DLO except to 
 the extent, if any, of his pecuniary interest therein.                                                                               |

| (9) | Mr. Escobari, a member of our board of directors, is a managing                                                                       
 director of General Atlantic. Mr. Escobari disclaims beneficial ownership of the shares held by GA DO, GA DO SPV and GA DLO except to 
 the extent, if any, of his pecuniary interest therein.                                                                                |

| (10) | Held indirectly through Bosinja Limited based on information provided by the shareholder to the Company. |

<div align='center'>S-36

Taxation</div>

The following summary contains a description of
certain Cayman Islands and U.S. federal income tax consequences of the acquisition, ownership and disposition of our Class A common shares.
It does not purport to be a comprehensive description of all the tax considerations that may be relevant to a decision to purchase the
Class A common shares, is not applicable to all categories of investors, some of which may be subject to special rules, and does not address
all of the Cayman Islands and U.S. federal income tax considerations applicable to any particular holder. The summary is based upon the
tax laws of the Cayman Islands and regulations thereunder and upon the tax laws of the United States and regulations thereunder as of
the date hereof, which are subject