Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 76

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 76
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S-47</div>

own account and for the accounts of their customers,
and such investment and trading activities may involve or relate to assets, securities and/or instruments of the issuer (directly, as
collateral securing other obligations or otherwise) and/or persons and entities with relationships with the issuer. The underwriters and
their respective affiliates may also communicate independent investment recommendations, market color or trading ideas and/or publish
or express independent research views in respect of such assets, securities or instruments and may at any time hold, or recommend to clients
that they should acquire, long and/or short positions in such assets, securities and instruments.

Selling Restrictions

Notice to Prospective Investors in the European
Economic Area

In relation to each Member State of the European
Economic Area (each, a “Relevant Member State”), an offer to the public of any Class A common shares may not be made
in that Relevant State, except that an offer to the public in that Relevant State of any Class A common shares may be made at any
time under the following exemptions under the Prospectus Regulation:

| · | to any legal entity which is a “qualified investor” as defined under the Prospectus Regulation; |

| · | to fewer than 150 natural or legal persons (other than “qualified investors” as defined under the Prospectus Regulation), 
 per Relevant Member State, subject to obtaining the prior consent of the representatives for any such offer; or           |

| · | in any other circumstances falling within Article 1(4) of the Prospectus Regulation, |

provided that no such offer of Class A common shares shall
result in a requirement for the Company or any underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Regulation
or a supplemental prospectus pursuant to Article 23 of the Prospectus Regulation and each person who initially acquires any Class A
common shares or to whom any offer is made will be deemed to have represented, warranted and agreed to and with each of the underwriters
and the issuer that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.

The Company, the underwriters and their affiliates
will rely upon the truth and accuracy of the foregoing representation, warranty and agreement.

For the purposes of this provision, the expression
an “offer to the public” in relation to any Class A common shares in any Relevant Member State means the communication
in any form and by any means of sufficient information on the terms of the offer