Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 66

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 66
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 have agreed, subject to certain exceptions, not to offer, sell or transfer any Class A common shares or securities
convertible into, or exchangeable or exercisable for, Class A common shares, for 90
days after the date of this prospectus supplement, without first obtaining the written consent of the representatives of the underwriters.
Specifically, we and these other persons have agreed, with certain limited exceptions, not to directly or indirectly:

| · | offer, pledge, sell or contract to sell any common shares; |

| · | sell any option or contract to purchase any common shares; |

| · | purchase any option or contract to sell any common shares; |

<div align='center'>S-42</div>

| · | grant any option, right or warrant for the sale of any common shares; |

| · | lend or otherwise dispose of or transfer any common shares; |

| · | request or demand that we file a registration statement related to the common shares; or |

| · | enter into any swap or other agreement that transfers, in whole or in part, the economic consequence of ownership of any common shares 
 whether any such swap or transaction is to be settled by delivery of shares or other securities, in cash or otherwise.                 |

These lock-up provisions apply to Class A
common shares and to securities convertible into or exchangeable or exercisable for Class A common shares, including our Class B
common shares.

Eligibility of restricted shares for sale in the public market

The Class A common shares that are not being
sold in this offering, but which will be outstanding at the time this offering is complete, will be eligible for sale into the public
market, under the provisions of Rule 144, subject to the expiration of the lock-up agreements and the volume restrictions discussed
below under “—Rule 144.”

Rule 144

In general, under Rule 144 under the Securities
Act, a person (or persons whose shares are aggregated) who is not deemed to have been an affiliate of ours at any time during the three
months preceding a sale, and who has beneficially owned restricted securities within the meaning of Rule 144 for at least six months
(including any period of consecutive ownership of preceding non-affiliated holders) would be entitled to sell those shares,
subject only to the availability of current public information about us. A non-affiliated person who has beneficially owned
restricted securities within the meaning of Rule 144 for at least one year would be entitled to sell those shares