Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 71

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 71
---
 which each lock-up party, with limited exceptions, for a period of 90 days after the
date of this prospectus supplement (such period, the “restricted period”), may not (and may not cause any of their direct
or indirect affiliates to), without the prior written consent of the representatives of the underwriters, (1) offer, pledge, sell,
contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant
to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any of our common shares or any securities convertible
into or exercisable or exchangeable for our common shares (including, without limitation, common shares or such other securities which
may be deemed to be beneficially owned by such lock-up parties in accordance with the rules and regulations of the SEC and securities
which may be issued upon exercise of a stock option or warrant (collectively with our common shares, the “lock-up securities”)),
(2) enter into any hedging, swap or other agreement or transaction that transfers, in whole or in part, any of the economic consequences
of ownership of the

<div align='center'>S-45</div>

lock-up securities, whether any such transaction
described 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