Company: DLO
Filing Date: 2025-09-04
Form Type: 424B3
Source: 0000950103-25-011286
Chunk: 58

Company: dLocal Ltd
Filing Date: 2025-09-04
Form: 424B3
Chunk 58
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 and profits (as determined under U.S. federal income tax principles). Because we do not maintain calculations
of our earnings and profits under U.S. federal income tax principles, it is expected that distributions generally will be reported to
U.S. Holders as dividends. Subject to applicable limitations, dividends paid to a non-corporate U.S. Holder will be “qualified dividend
income” and therefore may be taxable at rates applicable to long-term capital gains, provided the Class A common shares on which
the dividends are paid are readily tradable on an established securities market in the United States. The Nasdaq, on which the Class A
common shares are listed, is an established securities market in the United States, and we anticipate that our Class A common shares should
qualify as readily tradable. U.S. Holders should consult their tax advisers regarding the availability of the reduced tax rate on dividends
in their particular circumstances.

The amount of any dividend will be treated as
foreign-source dividend income and will not be eligible for the dividends-received deduction generally available to U.S. corporations
under the Code. Dividends will be included in a U.S. Holder’s income on the date of receipt.

Sale or Other Disposition of Class A Common Shares

For U.S. federal income tax purposes, gain or
loss realized on the sale or other disposition of a Class A common share will be capital gain or loss, and will be long-term capital gain
or loss if a U.S. Holder has held the Class A common share for more than one year. The amount of the gain or loss will equal the difference
between a U.S. Holder’s tax basis in the Class A common share disposed of and the amount realized on the disposition, in each case
as determined in U.S. dollars. This gain or loss will generally be U.S.-source gain or loss for foreign tax credit purposes. The deductibility
of capital losses is subject to various limitations.

Passive Foreign Investment Company Rules

Under the Code, we will be a PFIC for any taxable
year in which, after the application of certain “look-through” rules with respect to subsidiaries, either (i) 75% or more
of our gross income consists of “passive income,” or (ii) 50% or more of the average quarterly value of our assets consists
of assets that produce, or are held for the production of, “passive income.” For purposes of the above calculations, we will
be treated as