Company: DLO
Filing Date: 2025-09-04
Form Type: 424B3
Source: 0000950103-25-011286
Chunk: 74

Company: dLocal Ltd
Filing Date: 2025-09-04
Form: 424B3
Chunk 74
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 themselves about and to observe any restrictions relating to the offering and the distribution of this prospectus.
This prospectus supplement does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus
supplement in any jurisdiction in which such an offer or a solicitation is unlawful.

<div align='center'>S-47</div>

The underwriters and their respective affiliates
are full service financial institutions engaged in various activities, which may include sales and trading, commercial and investment
banking, advisory, investment management, investment research, principal investment, hedging, market making, brokerage and other financial
and non-financial activities and services. Certain of the underwriters and their respective affiliates have provided, and may in the future
provide, a variety of these services to the issuer and to persons and entities with relationships with the issuer, for which they received
or will receive customary fees and expenses.

In the ordinary course of their various business
activities, the underwriters and their respective affiliates, officers, directors and employees may purchase, sell or hold a broad array
of investments and actively trade securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments
for their own account and for the accounts of their customers, and such investment and trading activities may involve or relate to assets,
securities and/or instruments of the issuer (directly, as collateral securing other obligations or otherwise) and/or persons and entities
with relationships with the issuer. The underwriters and their respective affiliates may also communicate independent investment recommendations,
market color or trading ideas and/or publish or express independent research views in respect of such assets, securities or instruments
and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets, securities and
instruments.

Selling Restrictions

Notice to Prospective Investors in the European
Economic Area

In relation to each Member State of the European
Economic Area (each, a “Relevant Member State”), an offer to the public of any Class A common shares may not be made
in that Relevant State, except that an offer to the public in that Relevant State of any Class A common shares may be made at any
time under the following exemptions under the Prospectus Regulation:

| · | to any legal entity which is a “qualified investor” as defined under the Prospectus Regulation; |

| · | to fewer than 150 natural or legal persons (other than “qualified investors” as defined under the