Company: DLO
Filing Date: 2025-09-03
Form Type: F-3ASR
Source: 0000950103-25-011186
Chunk: 33

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: F-3ASR
Chunk 33
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which a company’s articles of association may provide indemnification of officers and directors, except to the extent that it may
be held by the Cayman Islands courts to be contrary to public policy, such as providing indemnification against willful default, actual
fraud or the consequences of committing a crime.

The registrant’s Articles of Association
provide that each director or officer of the registrant shall be indemnified out of the assets of the registrant against all actions,
proceedings, costs, charges, expenses, losses, damages, or liabilities, judgments, fines, settlements and other amounts (including reasonable
attorneys’ fees and expenses and amounts paid in settlement and costs of investigation) (collectively “Losses”) incurred
or sustained by such directors or officers, other than by reason of such person’s dishonesty, willful default or fraud, in or about
the conduct of our Company’s business or affairs (including as a result of any mistake of judgment) or in the execution or discharge
of such person’s duties, powers, authorities or discretions, including without prejudice to the generality of the foregoing, any
Losses incurred by such director or officer in defending or investigating (whether successfully or otherwise) any civil, criminal, investigative
and administrative proceedings concerning or in any way related to our Company or its affairs in any court whether in the Cayman Islands
or elsewhere.

Under the indemnification agreements entered into
with our directors and officers, the form of which has been filed as Exhibit 10.1 to our registration statement on Form F-1 filed on May
24, 2021, dLocal has agreed to indemnify and hold harmless its directors and officers against certain liabilities and expenses incurred
by them in connection with claims made by reason of their being such a director or officer.

Also, the registrant expects to maintain director’s
and officer’s liability insurance covering its directors and officers with respect to general civil liability, including liabilities
under the Securities Act, which he or she may incur in his or her capacity as such.

The form of underwriting agreement to be filed
as Exhibit 1.1 to this registration statement will also provide for indemnification by the underwriters of the registrant and its directors
and officers for certain liabilities, including liabilities arising under the Securities Act, but only to the extent that these liabilities
are caused by information relating to the underwriters that was furnished to us by the underwriters in writing expressly for use in this
registration statement and certain other disclosure