Company: DLO
Filing Date: 2025-09-03
Form Type: F-3ASR
Source: 0000950103-25-011186
Chunk: 23

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: F-3ASR
Chunk 23
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olders of dLocal shares have no general right
under Cayman Islands law to inspect or obtain copies of the list of shareholders or corporate records of the Company. However, the board
of directors may determine from time to time whether and to what extent dLocal’s accounting records and books shall be open to inspection
by shareholders who are not members of the board of directors. Notwithstanding the above, the Articles of Association provide shareholders
with the right to receive annual financial statements. Such right to receive annual financial statements may be satisfied by publishing
the same on the company’s website or filing such annual reports as we are required to file with the SEC.

Register of Members

Our Class A common shares are held through
DTC, and DTC or Cede & Co., as nominee for DTC, is recorded in the register of members as the holder of our Class A common
shares.

Under Cayman Islands law, dLocal must keep a register
of shareholders that includes:

| · | the names and addresses of the shareholders, a statement of the shares held by each member, and of the amount paid or agreed to be 
 considered as paid, on the shares of each member;                                                                                  |

| · | whether voting rights attach to the shares in issue; |

| · | the date on which the name of any person was entered on the register as a member; and |

| · | the date on which any person ceased to be a member. |

Under Cayman Islands law, the register of members
of dLocal is prima facie evidence of the matters set out therein (i.e. the register of members will raise a presumption of fact on the
matters referred to above unless rebutted) and a shareholder registered in the register of members is deemed as a matter of Cayman Islands
law to have prima facie legal title to the shares as set against his or her name in the register of shareholders.

However, there are certain limited circumstances
where an application may be made to the Grand Court of the Cayman Islands for a determination on whether the register of members reflects
the correct legal position. Further, the Grand Court of the Cayman Islands has the power to order that the register of members maintained
by a company should be rectified where it considers that the register of members does not reflect the correct legal position. If an application
for an order for rectification of the register of members were made in respect of our ordinary shares, then the validity of such shares
may be subject to re-examination by