Company: DLO
Filing Date: 2025-09-04
Form Type: 424B3
Source: 0000950103-25-011286
Chunk: 70

Company: dLocal Ltd
Filing Date: 2025-09-04
Form: 424B3
Chunk 70
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 in clause (1) or (2)
above is to be settled by delivery of lock-up securities, in cash or otherwise, (3) make any demand for, or exercise any right with
respect to, the registration of any lock-up securities, or (4) publicly disclose the intention to do any of the foregoing. Such persons
or entities have further acknowledged that these undertakings preclude them from engaging in any hedging or other transactions or arrangements
(including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof,
forward, swap or any other derivative transaction or instrument, however described or defined) designed or intended, or which could reasonably
be expected to lead to or result in, a sale or disposition or transfer (by any person or entity, whether or not a signatory to such agreement)
of any economic consequences of ownership, in whole or in part, directly or indirectly, of any lock-up securities, whether any such transaction
or arrangement (or instrument provided for thereunder) would be settled by delivery of lock-up securities, in cash or otherwise.

The restrictions described in the immediately
preceding paragraph and contained in the lock-up agreements between the underwriters and the lock-up parties do not apply, subject in
certain cases to various conditions, to certain transactions, including (a) transfers of lock-up securities: (i) as bona fide
gifts, or for bona fide estate planning purposes, (ii) by will or intestacy, (iii) to any immediate family of the lock-up party
or any trust for the direct or indirect benefit of the lock-up party or the immediate family of the lock-up party, or if the lock-up party
is a trust, to a trustor or beneficiary of the trust or to the estate of a beneficiary of such trust; (iv) to a partnership, limited
liability company or other entity of which the lock-up party and any immediate family of the lock-up party are the legal and beneficial
owner of all of the outstanding equity securities or similar interests; (v) if the lock-up party is a corporation, partnership, limited
liability company, trust or other business entity, (A) to another corporation, partnership, limited liability company, trust or other
business entity that is an affiliate of the lock-up party, or to any investment fund or other entity controlling, controlled by, managing
or managed by or under common control with the