Company: DLO
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000950170-25-058197
Chunk: 120

Company: dLocal Ltd
Filing Date: 2025-04-24
Form: 20-F
Item: Item 16K
Chunk 120
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) the complexity of the Company’s processes for setting the transaction revenues with their merchants mostly defined individually, which in turn led to (ii) a significant effort in performing procedures and evaluating audit evidence related to such processes; and (iii) the involvement of professionals with specialized skills and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the

Price Waterhouse & Co. S. R. L., Bouchard 557, piso 8°, C1106ABG - Ciudad de Buenos Aires

T: +(54.11) 4850.0000, www. pwc. com/ar

effectiveness of controls relating to the transaction revenue recognition process, including controls over management’s processes for calculating and recording transaction revenues. These procedures also included among others: (i) performing detailed testing of transactions recognized as transaction revenues by agreeing the amounts recognized to source documents; and (ii) testing the mathematical accuracy of transactions recognized as transaction revenues. Professionals with specialized skills and knowledge were involved in the testing of the effectiveness of controls relating to management’s processes for calculating and recording transaction revenues.

/s/ Price Waterhouse & Co. S. R. L.

/s/ Mario Angel Julio(Partner)

Autonomous City of Buenos Aires, Argentina

April 24, 2025

We have served as the Company’s auditor since 2020.

Price Waterhouse & Co. S. R. L., Bouchard 557, piso 8°, C1106ABG - Ciudad de Buenos Aires

T: +(54.11) 4850.0000, www. pwc. com/ar

DLocal Limited

Consolidated Statements of Income and Comprehensive Income

Years ended December 31, 2024, 2023 and 2022

(All amounts in thousands of U. S. Dollars except share data or as otherwise indicated)

                                                                             Notes      For the Year Ended December 31,                                
                                                                                                                   2024                                
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Continuing operations                                                                                                                                
  Revenues                                                                       6                              745,974        650,351        418,925  
  Cost of services                                                               6                            ( 451,301      ( 373,492      ( 216,758  
  Gross profit                                                                                                  294,673        276,859        202,