Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 29

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 29
---
                                             |
| Dividend policy                                     | We intend to pay annual cash dividends to the holders of our common shares in an amount equal to                                                                                                                                                                                                     |

<div align='center'>S-16</div>

|                    | 30% of our  Adjusted Free Cash Flow for the prior year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
 We do not have a legal obligation to pay an annual dividend or dividends at any specified rate or at all.                                                                                                                                                                                                                                                                                                                                                                                                                 
 Any declaration of dividends will be at the discretion of our board of directors, having regard to the best interests of the Company                                                                                                                                                                                                                                                                                                                                                                                      
 and any limitations imposed by law and our Articles of Association and will depend on our financial condition, earnings, cash needs,                                                                                                                                                                                                                                                                                                                                                                                      
 regulatory constraints, contractual obligations, capital requirements (including requirements of our subsidiaries and the ability of                                                                                                                                                                                                                                                                                                                                                                                      
 our subsidiaries to pay dividends to us) and any other factors that our board of directors deems relevant in making such a determination.                                                                                                                                                                                                                                                                                                                                                                                 
 Therefore, there can be no assurance that we will pay any dividends to holders of our common shares, or as to the amount of any such                                                                                                                                                                                                                                                                                                                                                                                      
 dividends.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Lock-up agreements | We have agreed with the underwriters, subject to certain exceptions, not to offer, sell, or dispose of any shares of our share capital or securities convertible into or exchangeable or exercisable for any shares of our share capital during the 90-day period following the date of this prospectus supplement. Members of our board of directors and our executive officers, and the selling shareholder have agreed to substantially similar lock-up provisions, subject to certain exceptions. See “Underwriting.” |
| Risk factors       | See “Risk Factors” and the other information included in this prospectus supplement and the accompanying prospectus for a discussion of factors you should consider before deciding to invest in our Class A common shares.                                                                                                                                                                                                                                                                                               |

Unless otherwise indicated, all information contained in this prospectus supplement assumes no exercise of the option granted to the underwriters to purchase up to 2,250,000 additional Class A common shares in connection with the offering. The number of Class A and Class B common shares to be outstanding after this offering is based on 312,458,403 common shares outstanding as of the date of this prospectus supplement and excludes common shares that may be issued following this offering under our employee share incentive plan.

<div align='center'>S-17

Risk Factors</div>

An investment in our Class A common