Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 87

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 87
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howsoever described) in that trust shall not be transferred within six
months after that corporation or that trust has acquired the Class A common shares pursuant to an offer made under Section 275
of the SFA, except: (1) to an institutional investor under Section 274 of the SFA or to a relevant person (as defined in Section 275(2)
of the SFA), or to any person arising from an offer referred to in Section 275(1A), or Section 276(4)(i)(B) of the SFA; (2) where
no consideration is or will be given for the transfer; (3) where the transfer is by operation of law; (4) as specified in Section 276(7)
of the SFA; or (5) as specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations
2005 of Singapore.

Singapore Securities and Futures Act Product Classification—Solely
for the purposes of its obligations pursuant to sections 309B(1)(a) and 309B(1)(c) of the Securities and Futures Act (Chapter 289 of Singapore)
(the “SFA”), we have determined, and hereby notify all relevant persons (as defined in Section 309A of the SFA) that
the Class A common shares are “prescribed capital markets products” (as defined in the Securities and Futures (Capital
Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment
Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

Notice to Prospective Investors in Switzerland

This prospectus does not constitute an offer to
the public or a solicitation to purchase or invest in any Class A common shares. No Class A common shares have been offered or will be
offered to the public in Switzerland, except that offers of Class A common shares may be made to the public in Switzerland at any time
under the following exemptions under the Swiss Financial Services Act (“FinSA”):

(a) to any person which is a professional client
as defined under the FinSA;

(b) to fewer than 500 persons (other than professional
clients as defined under the FinSA), subject to obtaining the prior consent of the representatives of the underwriters for any such offer;
or

(c) in any other circumstances falling within
Article 36 FinSA in connection