Company: DLO
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000950170-25-058197
Chunk: 136

Company: dLocal Ltd
Filing Date: 2025-04-24
Form: 20-F
Item: Item 16K
Chunk 136
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S 2. Accordingly, the fair value of the Warrant was accounted for as a reduction in revenue upon commencement of the service agreement.

On November 15, 2023, the warrant holder exercised its net issuance right, resulting in the net issuance of 6,334,134 shares at a Fair Market Value of $18.098 per share. The Fair Market Value was calculated based on the average price over the five business days preceding the exercise date.

As of December 31, 2024, a total of 8,672,500 warrants remained outstanding, all with an average exercise price of $0.57 per share. These warrants are fully vested and exercisable. No warrants expired during the reporting period.

All outstanding warrants will expire on January 1, 2026.

2.12. Leases and right of use assets

IFRS 16, Leases, applies to all leases with the exception of licenses of intellectual property rights held by licensing agreements within the scope of IAS 38, Intangible Assets and service concession arrangements.

When the Group is the lessee, it is required to recognize both:

• A lease liability, measured at the present value of remaining cash flows on the lease; and

• A right-of-use (“ ROU”) asset, measured at the amount of the initial measurement of the lease liability, plus any lease payments made prior to commencement date, initial direct costs, and estimated costs of restoring the underlying asset to the condition required by the lease, less any lease incentives received.

The lease agreement can be extended for 1-month terms following the expiration of the base lease term unless the Company elects to terminate the agreement.

The net present value of lease liabilities generally includes the following:

F-18

• fixed payments (including in-substance fixed payments), less any lease incentives receivable;

• variable lease payment based on an index or a rate, initially measured using the index or rate as of the commencement date;

• amounts expected to be payable by the Group under residual value guarantees;

• amounts required to be paid upon exercise price of a purchase option if the Group is reasonably certain to exercise that option; and

• penalties resulting from the termination of a lease if the lease term assumes the Group will exercise its termination option.

If renewals are reasonably certain of being exercised, payments required under such renewal terms are included in the measurement of the lease liability.

The lease liability will subsequently increase for the accrual of interest, resulting in a constant rate of return throughout the life of the lease