# EDGAR Filing Document

**Accession Number:** 0001910034
**File Stem:** 0000950103-26-006779
**Filing Date:** 2026-5
**Character Count:** 9502
**Document Hash:** 455afd7e82c1eea1e940eec8f6e1426f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-26-006779.hdr.sgml**: 20260504

**ACCESSION NUMBER**: 0000950103-26-006779

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260504

**DATE AS OF CHANGE**: 20260504

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** dLocal Ltd
- **CENTRAL INDEX KEY:** 0001846832
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93358
- **FILM NUMBER:** 26938544

**BUSINESS ADDRESS:**
- **STREET 1:** DR. LUIS BONAVITA, 1294
- **CITY:** MONTEVIDEO
- **STATE:** X3
- **ZIP:** 11300
- **BUSINESS PHONE:** 598-9921-2146

**MAIL ADDRESS:**
- **STREET 1:** DR. LUIS BONAVITA, 1294
- **CITY:** MONTEVIDEO
- **STATE:** X3
- **ZIP:** 11300
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Azar Alberto Eduardo
- **CENTRAL INDEX KEY:** 0001910034

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**MAIL ADDRESS:**
- **STREET 1:** DR. LUIS BONAVITA 1294
- **CITY:** MONTEVIDEO
- **STATE:** X3
- **ZIP:** 11300

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Issuer:** DLocal Limited

**Title of Class of Securities:** Class A Common Shares, par value $0.002 per share

**CUSIP Number:** —

**Date of Event Which Requires Filing of this Statement:** 03/31/2026

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [x] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Azar Alberto Eduardo | Names of Reporting Persons<br>Azar Alberto Eduardo |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X0 | Citizenship or Place of Organization<br>X0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>653024.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>17820816.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>653024.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>17820816.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>18473840.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>18473840.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>10.3% | Percent of Class Represented by Amount in Row (9)<br>10.3% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

---

| 1. | Names of Reporting Persons<br>Aqua Crystal Investments Ltd. | Names of Reporting Persons<br>Aqua Crystal Investments Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>J1 | Citizenship or Place of Organization<br>J1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>17820816.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>17820816.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>17820816.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>17820816.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.9% | Percent of Class Represented by Amount in Row (9)<br>9.9% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

---

**Item 1(a). Name of Issuer:**
DLocal Limited

**Item 1(b). Address of Issuer's Principal Executive Offices:**
Dr. Luis Bonavita, 1294, Montevideo, Uruguay, 11300

**Item 2(a). Name of Person Filing:**
This Schedule 13G is being filed by Alberto Eduardo Azar and Aqua Crystal Investments Ltd. (the "Reporting Persons"). The Reporting Persons are shareholders of the Issuer.

**Item 2(b). Address of Principal Business Office:**
The principal office and business address of the Reporting person is Dr. Luis Bonavita, 1294, Montevideo, Uruguay, 11300.

**Item 2(c). Citizenship:**
See row 4 of the cover pages to this Schedule 13G.

**Item 2(d). Title of Class of Securities:**
Class A Common Shares, par value $0.002 per share

**Item 2(e). CUSIP Number:**
—

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

All ownership percentages assume that there are 178,799,838 Class A common shares outstanding as of March 2, 2026, as reported by the Issuer to the Reporting Person.
The information set forth in Item 2 above is incorporated by reference for the Reporting Person. The ownership consists of 17,820,816 Class A common shares held by Aqua Crystal Investments Ltd and beneficially owned by Alberto Eduardo Azar and 653,024 Class A common shares held by Alberto Eduardo Azar directly.
Alberto Eduardo Azar disclaims any beneficial ownership of the shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
See row 9 of the cover pages to this Schedule 13G.

**(b) Percent of class:**

See row 11 of the cover pages to this Schedule 13G.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See row 5 of the cover pages to this Schedule 13G.

**(ii) Shared power to vote or to direct the vote:**

See row 6 of the cover pages to this Schedule 13G.

**(iii) Sole power to dispose or to direct the disposition of:**

See row 7 of the cover pages to this Schedule 13G.

**(iv) Shared power to dispose or to direct the disposition of:**

See row 8 of the cover pages to this Schedule 13G.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

—

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Azar Alberto Eduardo**

**Date:** 05/04/2026

**By:** /s/ Alberto Eduardo Azar

**Name & Title:** Alberto Eduardo Azar

**Aqua Crystal Investments Ltd.**

**Date:** 05/04/2026

**By:** /s/ Lee Abudarham

**Name & Title:** Lee Abudarham/Director