Company: DLO
Filing Date: 2025-09-04
Form Type: 424B3
Source: 0000950103-25-011286
Chunk: 28

Company: dLocal Ltd
Filing Date: 2025-09-04
Form: 424B3
Chunk 28
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us 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 shares involves a high degree of risk. In addition to the other information in this prospectus supplement, you should carefully consider the following risk factors, as well as those contained in the 2024 Form 20-F, which are incorporated by reference into this prospectus supplement and the accompanying prospectus, as well as the other information in this prospectus supplement, in evaluating us and our business before purchasing our Class A common shares. In particular, you should consider the risks related to an investment in companies operating in emerging market countries, for which we have included information in these risk factors and those incorporated by reference herein to the extent that information is publicly available. In general, investing in the securities of issuers whose operations are carried out mainly in emerging market countries involves a higher degree of risk than investing in the securities of issuers whose operations are focused primarily in the United States or other more developed countries. If any of the risks discussed in this prospectus actually occur, alone or together with additional risks and uncertainties not currently known to us, or that we currently deem immaterial, our business, financial condition, results of operations and prospects may be materially adversely affected. If this were to occur, the value of our Class A common shares may decline, and you may lose all or part of your investment. When determining whether to invest, you should also refer to the other information contained or incorporated by reference in this prospectus, including our audited consolidated financial statements as of December 31, 2024, and 2023, and for the years ended December 31, 2024, 2023, and 2022 and related notes; and our unaudited consolidated condensed interim financial statements as of June 30, 2025 and for the six-month and three-month periods ended June 30, 2025 and