Company: DLO
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000950170-25-058197
Chunk: 167

Company: dLocal Ltd
Filing Date: 2025-04-24
Form: 20-F
Item: Item 16K
Chunk 167
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 Notes for a nominal value of USD42,052 were held as security for this borrowing. See note 15 for additional information.
(ii) In December 2024, dLocal Colombia S. A. S, entered into a loan agreement with Citibank Colombia S. A. in a total of COP14,000,000(USD3,177), which matured onMarch 01, 2025. With total payment, principal and interest due at the maturity date.

F-39

(iii) As of December 31, 2024, it is mainly related to an overdraft balance with a financial institution in Uruguayan Pesos (UYU) in Uruguay to fund advances to merchants. This overdraft facility is a short-term liability with an annual interest rate of11%.
(iv) Financial liabilities are presented net of cash payments, have a high turnover, the amounts are large, and the maturity period is three months or less.

23.
Tax Liabilities
Tax liabilities include the following:
────────────────────────────────────────────────────────────
Income tax payable 19,682 20,280
Other tax liabilities 1,833 520
Income tax perception 843 159
Digital services withholding VAT 990 341
Other Taxes - 20
Total 21,515 20,800

24.
Derivative financial instruments
The Group’s operations are in various foreign currencies and consequently are exposed to foreign currency risk. As a consequence, the Group uses derivative instruments, delivery and non-delivery currency forward contracts and future contracts, to reduce the volatility of earnings and cash flows, caused by the exchange rate variation in which dLocal is exposed on the conversion of local currency into the settlement currency (usually US dollars). All outstanding derivatives are recognized in the Group’s consolidated balance sheets at fair value and the impacts are recognized on profit or loss, as shown on the tables below.
The Group uses foreign exchange forward contracts to manage some of its transaction exposures. The spot element of foreign exchange forward contracts is designated as hedging instruments in fair value hedges and are entered into for periods consistent with foreign currency exposure of the underlying transactions, generally from one to 12 months.

F-40

Transaction Type Contract
─────────────────────────────────────────────────────────────────────────────────────────────────────────────
Assets
Buy EUR
US Dollar Futures Contract - - 29,114 480
Buy USD
Mexican Peso Futures Contract 9,780 287 - - 
South African Rand Futures Contract 13