#1d.local INVESTOR DAY 2023#2Agenda 01 Building the best financial platform in emerging markets 02 Fueling our growth engine: products, markets and merchants 03 Developing new markets and navigating global regulatory complexity for our clients 04 Delivering tailored solutions at scale 05 Growing together with our merchants 06 Our powerful financial model 07 Q&A#3I Safe Harbor This presentation contains certain forward-looking statements. These forward-looking statements convey dLocal's current expectations or forecasts of future events. Forward-looking statements regarding dLocal involve known and unknown risks, uncertainties and other factors that may cause dLocal's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the "Risk Factors," "Forward-Looking Statements" and "Cautionary Statement Regarding Forward-Looking Statements" sections of dLocal's filings with the U.S. Securities and Exchange Commission. Unless required by law, dLocal undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof. d.local#4d.local Building the best financial platform in emerging markets Sebastián Kanovich CEO Sergio Fogel Co-President and Chief Strategy Officer#5We started this journey in 2016, understanding the urgent need to connect global merchants with billions of Emerging Market consumers Solving high complexity at scale USD 1.4 TN market opportunity¹ Note: 'Market opportunity represents estimated total digital payments volume in the countries in which we operate. The calculation of market opportunity is based on a report prepared by Americas Market Intelligence, LLC, or AMI, as commissioned by dLocal at the time of its IPO and updated by an independent third party advisor. The total market opportunity was calculated for pay-in (including cross-border and domestic) and pay-out (including ride-hailing, delivery apps, property rentals, freelance work and international remittances) volumes across 39 countries in which dLocal operates (excludes China). Data provided by AMI was updated based on a set of macroeconomic indicators for each country, including changes in GDP, private consumption expenditures, imports of goods and services, and foreign remittances. For the countries in which it was not possible to update the values by reference to macroeconomic indicators, a combination of metrics was used to estimate e-commerce market share, including comparing market share with neighboring countries, relative penetration of mobile subscriptions, and other methods. Pay-in includes all online purchases of goods and services, regardless of the device or payment method used, in all verticals. Pay-out is defined as payments made by companies to individuals for contract services rendered or for other purposes (e.g., international remittances and freelance work). The calculation of market opportunity and expected growth in market opportunity is based on current estimates and assumptions. Amounts are subject to change and we undertake no duty to update this outlook. d. 5#6We are riding a secular trend as global merchants realize the growing power of Emerging Markets: population and urban middle class growth, remote work and faster payment innovation Source: 1. United Nations https://www.un.org/development/desa/pd/sites/www.un.org.development.desa.pd/files/wpp2022 summary of results.pdf 2. Euromonitor https://www.euromonitor.com/article/emerging-and-developing-cities-are-closing-the-income-gap-on-advanced-economies 10x Developed Markets (DM) population growth 2022-2030¹ ~3.5x DM urban GDP growth 2021-2040² d. 6#7Emerging Market consumers are young, connected, ever more affluent, talented, avid to consume... And forgotten +2BN people covered by dLocal¹ Note: ¹Potential interaction with over 2 billion combined internet users in the countries we serve; estimated figure based on each country population and internet penetration d. 7#8The problem Indonesia To Pull The Plug On Visa And Mastercard, President Calls Them A 'problem' Indonesia wants to become less reliant on external financial platforms like VISA and Mastercard taking lessons from Russian sanctions by the U.S. Rest of the World News | Written By Vidit Baya Image: AP Note: Publicly available information SA P PayPal Olá ercard Obrigado, PayPal f Y Este é um comunicado para informar que o PayPal não é mais um participante do arranjo Pix e, desta forma, todas as funcionalidades do Pix foram descontinuadas conforme informado anteriormente. Convidamos você a continuar aproveitando os benefícios de com PayPal. What the users want Uhriemefe @Uhriemefe Jan 1 Replying to @TeamYouTube The problem here is that your payment system is still marked as international transaction in Nigeria. And that transaction is banned on most banks. You have to adopt a local payment system that accepts every bank debit/credit card from Nigeria just like what Spotify did 1 Tweet Kadir Issá @real_issakadir @Starlink greetings from Mozambique, thank you I just made the payment for the equipment, looking forward to start using it. Mozambique, Nigeria, Burundi, will be the first African countries to use Starlink. 12:12 6/2/23 10 visualizaciones 12 J. 762 3 d. 8#9Y-Combinator question: "What do users do or go through now because what you're making doesn't exist yet? ⁹⁹ You would not believe what emerging market customers go through to buy some products ▪ VPNs UK-issued prepaid cards ▪ Virtual Phone Numbers ▪ Virtual Addresses ■ Boxes 65 : d. 9#10The problem: WITHOUT d-local Spotify Tu plan Premium Individual 1 cuenta Premium A partir de hoy Se plan los Timmins de la Oferia Tarjeta de crédito o débito VISA Un pago único de $ 1,150.00 por 12 meses = Cambiar plan Estoy de acuerdo con la recopilación de mis datos financieros para este fin y como se detalla en la Politica de Privacidad de Spotify COMPRAR AHORA The solution: WITH d.local Spotify Tu plan Premium Individual 1cuenta Premium A partir de hoy Se aplican los Términos de la Oferta n O Tarjeta de crédito o débito PayPal PayPal O Oxxo 28 PAY Nombre completo Un pago único de $ 1,150.00 por 12 meses Haz clic en el botón que aparece abajo para obtener una factura para pagar Spotify en cualquier sucursal de Oxxo. Tu suscripción de Spotify Premium comenzará una vez que recibamos tu pago. Email Cambiar plan GIZAR PAY Te redireccionaremos a una página con tu factura, la cual puedes pagar en cualquier sucursal de Oxxo. Continuar la compra 1API 900+ Payment methods d. 10#11The problem: WITHOUT d.local 4- PAGO Envios a todo el país y 3 cuotas sin interés. Número 4580 5480 1258 4565 VISA Nombre y Apellido como figura en la tarjeta Fecha de Vencimiento 05 Código de Seguridad 29 Finalizar compra Volver a carrito The solution: WITH d.local Envios a todo el país y 3 cuotas sin interés. 4- PAGO Número 4580 5480 1258 4565 VISA Naranja Cuotas disponibles: ¿En cuantas cuotas deseas pagar? ✓¿En cuantas cuotas deseas pagar? Total - $79.298 3 cuotas de $26.433 sin interés 6 cuotas de $ 21.052 con interés de 59.29% mensual 12 cuotas de $14.956 con interés de 126.32% mensual O 1API 900+ Payment methods d. 11#12We have come a long way since 2016 TTPV TPV ($B): Our team (#): 0.1 2016 66 ($B) 0.3 2017 0.6 2018 +107% CAGR 1.3 In 2022 we processed 2016 TPV in less than a week 2019 2.1 2020 6.0 2021 10.6 2022 726 d. 12#13Our strategy and DNA have enabled us to consistently deliver outstanding growth REVENUE ($M) +96% CAGR 55 2019 104 2020 244 2021 1.7x 419 2022 Gross profit ($M) +78% CAGR 36 2019 61 2020 130 2021 1.5x 202 2022 Adj. EBITDA¹ ($M) and Adjusted EBITDA / Gross profit (%) 76% 56% 20 2019 70% 42 2020 ■ Adj. EBITDA ($M) 99 2021 1.5x 76% 153 2022 Adjusted EBITDA/ Gross profit (%) Note: ¹dLocal has only one operating segment. Although Adjusted EBITDA may be commonly viewed as non-IFRS measure in other contexts, pursuant IFRS 8, Adjusted EBITDA is treated by dLocal as an IFRS measure based on the manner in which dLocal utilizes these measures d. 13#14As a result, we have also over-delivered by an average of 40% from our own internal targets at the time of the IPO TPV ($B) 4.4 1.4x 2021 6.0 IPO internal targets 7.4 1.4x 2022 Actual 10.6 d. 14#15As a result, we have also over-delivered by an average of 40% from our own internal targets at the time of the IPO Revenue ($M) 173 1.4x 2021 244 IPO internal targets 279 1.5x 2022 Actual 419 d. 15#16As a result, we have also over-delivered by an average of 40% from our own internal targets at the time of the IPO Note: ¹ dLocal has only one operating segment. Although Adjusted EBITDA may be commonly viewed as non-IFRS measure in other contexts, pursuant IFRS 8, Adjusted EBITDA is treated by dLocal as IFRS measure based on the manner in which dLocal utilizes these measures Adjusted EBITDA¹ ($M) 71 1.4x 2021 99 IPO internal targets 120 1.3x 2022 Actual 153 d. 16#17I The d local culture is our key differentiator WE ARE... Obsessed with solving complex payments problems for global merchants in EMs Built for speed at scale, leveraging technology and local knowledge A focused, passionate global team Frugal spenders and careful investors the d-local DNA d. 17#18I Our One dLocal model enables global merchants to rapidly and easily reach billions of users across Emerging Markets Global Merchants Multiple Products/Solutions Improved acceptance and conversion rate Reduced fraud One d.local One API One platform One contract One source of support One integration Local-to-local and cross-border transactions facilitating pay-ins and pay-outs 8 8 8 AFRICA ASIA LATAM Consumers in Emerging Markets Multiple Payment Options Access to global products and services d. 18#19The biggest names trust us Selected Merchants amazon.com deel. Meta S shopify DiDi e expedia group Microsoft NETFLIX → Pedidosya Spotify Telegram Tencent Note: Selection of merchants and merchant logos that we have previously disclosed as existing clients Google HBO Rappi salesforce Uber wish mailchimp SHEIN Among many other global brands! d. 19#20And we are just getting started FUCKS 16800 d. 20#21d.local Fueling our growth engine: products, markets & merchants Maria Oldham VP Corporate Development & IR#22Section 1: Market Opportunity d.local d. 22#23Huge market opportunity Estimated market size 2022: EM $1.4TN Digital Payments $0.6TN LATAM $0.2TN AFRICA $0.6TN APAC Note: Market opportunity represents estimated total digital payments volume in the countries in which we operate. The calculation of market opportunity is based on a report prepared by Americas Market Intelligence, LLC, or AMI, as commissioned by dLocal at the time of its IPO and updated by an independent third party advisor. The total market opportunity was calculated for pay-in (including cross-border and domestic) and pay-out (including ride-hailing, delivery apps, property rentals, freelance work and international remittances) volumes across 39 countries in which dLocal operates (excludes China). Data provided by AMI was updated based on a set of macroeconomic indicators for each country, including changes in GDP, private consumption expenditures, imports of goods and services, and foreign remittances. For the countries in which it was not possible to update the values by reference to macroeconomic indicators, a combination of metrics was used to estimate e-commerce market share, including comparing market share with neighboring countries, relative penetration of mobile subscriptions, and other methods. Pay-in includes all online purchases of goods and services, regardless of the device or payment method used, in all verticals. Pay-out is defined as payments made by companies to individuals for contract services rendered or for other purposes (e.g., international remittances and freelance work). The calculation of market opportunity and expected growth in market opportunity is based on current estimates and assumptions. Amounts are subject to change and we undertake no duty to update this outlook. d. 23#24dLocal's opportunity Just scratching the surface We are here <1% $1.4TN Note: Market opportunity represents estimated total digital payments volume in the countries in which we operate. The calculation of market opportunity is based on a report prepared by Americas Market Intelligence, LLC, or AMI, as commissioned by dLocal at the time of its IPO and updated by an independent third party advisor. The total market opportunity was calculated for pay-in (including cross-border and domestic) and pay-out (including ride-hailing, delivery apps, property rentals, freelance work and international remittances) volumes across 39 countries in which dLocal operates (excludes China). Data provided by AMI was updated based on a set of macroeconomic indicators for each country, including changes in GDP, private consumption expenditures, imports of goods and services, and foreign remittances. For the countries in which it was not possible to update the values by reference to macroeconomic indicators, a combination of metrics was used to estimate e-commerce market share, including comparing market share with neighboring countries, relative penetration of mobile subscriptions, and other methods. Pay-in includes all online purchases of goods and services, regardless of the device or payment method used, in all verticals. Pay-out is defined as payments made by companies to individuals for contract services rendered or for other purposes (e.g., international remittances and freelance work). The calculation of market opportunity and expected growth in market opportunity is based on current estimates and assumptions. Amounts are subject to change and we undertake no duty to update this outlook. d. 24#25Structural Tailwinds Internet Usage (% of population with internet access) 87% 66% 88% 68% 89% Source: Euromonitor 71% 90% 74% 90% 76% 91% 79% 92% 81% 2021 2022 2023E 2024E 2025E 2026E 2027E TA Consumer Spending Growth - EMs vs. DMs 15% 11% 7% 4% 6%6% 7% EM 3% 7% DM 4% 7% 4% 7% 2021 2022 2023E 2024E 2025E 2026E 2027E 4% E-Commerce Penetration (% of consumer spending - 2022) 2227E CAGR 21% T 39x 0.2% NG 14% 17% 17% 6x 1.2% SA 3x 2.8% MX 2x 4.3% BR 7% 4.6% GR 8% 6.4% US 8% 7.7% UK d. 25#26Tailwinds continuing to drive rapid growth of market Estimated market size 2028: $3.7TN LATAM EM Digital Payments $1.6TN 20% CAGR 22-'28 $1.4TN 16% CAGR '22-'28 AFRICA $0.6TN 17% CAGR '22-'28 APAC Note: Market opportunity represents estimated total digital payments volume in the countries in which we operate. The calculation of market opportunity is based on a report prepared by Americas Market Intelligence, LLC, or AMI, as commissioned by dLocal at the time of its IPO and updated by an independent third party advisor. The total market opportunity was calculated for pay-in (including cross-border and domestic) and pay-out (including ride-hailing, delivery apps, property rentals, freelance work and international remittances) volumes across 39 countries in which dLocal operates (excludes China). Data provided by AMI was updated based on a set of macroeconomic indicators for each country, including changes in GDP, private consumption expenditures, imports of goods and services, and foreign remittances. For the countries in which it was not possible to update the values by reference to macroeconomic indicators, a combination of metrics was used to estimate e-commerce market share, including comparing market share with neighboring countries, relative penetration of mobile subscriptions, and other methods. Pay-in includes all online purchases of goods and services, regardless of the device or payment method used, in all verticals. Pay-out is defined as payments made by companies to individuals for contract services rendered or for other purposes (e.g., international remittances and freelance work). The calculation of market opportunity and expected growth in market opportunity is based on current estimates and assumptions. Amounts are subject to change and we undertake no duty to update this outlook. d. 26#27What fuels our growth engine? 3-fold growth strategy 1 PRODUCT ■ Simplifies complexity ■ Single connection ■ Deep local expertise ■ Product agnostic PRODUCT 3 2 MERCHANTS GEOGRAPHIES ■ Merchant-centric approach ■ Growing merchant base ■ Cross-selling ■ High diversification MERCHANTS GEOGRAPHIES ■ Geographic expansion ■ New payment methods Local knowledge d. 27#28Axis 1: Product PRODUCT GEOGRAPHIES MERCHANTS d. 28#29dLocal business today Building the best Payments Platform for Global Merchants in Emerging Markets Global Merchants One stop shop in emerging markets Multiple solutions Improved acceptance and conversion rate 900+ payment methods 40 countries d.local One API One platform One contract Regulation & Compliance Multiple geographies Multiple payment methods Multiple products FX unlocking 2B+ potential consumers in Emerging Markets 8 8 8 AFRICA ASIA LATAM d. 29#301 Unique product: addressing multiple problems/complexities Fragmented payment systems and methods >Unstable, volatile and complex regulatory environments V Complex, dynamic and multi-layered taxation regimes Distinct consumer behaviors Other 59% Other 72% 2022 local-to-local TPV O 2022 cross-border TPV O Credit card 41% Credit card 28% Payment methods Other than Credit cards accounted for two thirds of TPV in 2022 O Bank transfers Digital wallet °0⁰ Cash alike payments Local APMs Debit card Mobile Payments d. 30#31Axis 2: Merchants PRODUCT MERCHANTS GEOGRAPHIES d. 31#322 Rapid merchant acquisition Total Merchants 50+ 2016 70+ 2017 +50% CAGR 100+ 2018 190+ 2019 300+ 2020 Note: Total merchants exclude small and medium-sized businesses in our marketplace solution 400+ 2021 600+ 2022 d. 32#332 Well-diversified across business verticals Exposure to a wide range of of fast-growing verticals across digital commerce and services 2.1B 2020 6.0B 2021 10.6B 2022 97% 236% 176% 89% 167% 471% 109% 166% 72% CAGR Others² Travel SaaS Ride hailing Advertising On-demand Delivery Streaming Commerce Financial Services¹ Note: CAGRS are calculated for a two year period from 2020 to 2022. In 2022, financial services include wallets (1% of total TPV) and crypto (0.2% of total TPV). 2 Other includes elearning, gaming and others. d. 33#342 TPV composition by annual cohort ($M) 297 260 188/ EG Positive cohort trends across a range of metrics 36 0 2018 2,116 1,242 548 138 2019 4,132 954 386 2 2020 2,514 577 3 2021 3,320 2022 4 Average Countries per Merchant 3 0 2018 1 2019 2 2020 -5- 3 2021 2022 5 4 Average Payment Methods per Merchant 13 11 10⁰ 8 0 2018 32 19 1 2019 46 347 33 2 2020 46- 38 3 2021 48 4 2022 Note: Each cohort is comprised of all the merchants that began processing TPV in that annual period, regardless of volume of TPV processed. As cohorts prior to 2018 are not illustrated, the sum of the TPV of the different cohorts does not match our TPV reported for the period. Countries and payment method analysis follow the same cohort methodology, including merchants when they start processing TPV, regardless of the volume. The amounts presented for TPV composition by annual cohort, average countries per merchant per annual cohort, and average payment methods per merchant differ from the amounts presented in our IPO prospectus since the cohort analysis in our IPO prospectus considered only merchants that processed payments in excess of US$6 million annually and the cohort analysis presented here considers all merchants, regardless of volume of TPV processed. d. 34#352 NRR driven by high growth and low churn NRR¹ Breakdown Very high NRR shows stickiness of our product ▪ 165% NRR as of 2022 Churn <1% Our NRR has remained above peer average of 120% 100% 2021 0% Churn 2 ~20% Estimated Organic growth ~30% Estimated increase in SOW4 6% New Payment Methods in Existing Geos 7% New Geographies in the period 165% 2022 Note: 'We calculate the NRR of a period. dividing the Current Period Revenue by the Prior Period Revenue. The Prior Period Revenue is the revenue billed by us to all our customers in the prior period. The Current Period Revenue is the revenue billed by us in the current period to the same customers included in the Prior Period Revenue. 2Churn is calculated as the Prior Period Revenue from merchants that had any revenue during the past period but didn't have any revenue during the current period ³Estimated Merchant organic growth is the estimation of our merchants increase in total traffic, based on dLocal's internal assumptions 4Increase in Share of wallet in already operating Payment Methods ("PMs") and Geographies is the incremental revenue from each merchant in each country and PM that was already operational in the past period, based on dLocal's internal assumptions 5New Payment Methods calculated as the current period revenues from payment methods that each merchant did not operate with us in the past period. This component does not take into consideration PMs from new countries "New Geographies calculated as the current period revenues from geographies that each merchant hadn't operated with us in the past period d. 35#36Mapped opportunity among main merchants: Huge potential still to be captured current SoW¹ ~10-12% Note: 'Share of wallet is an average calculated as dLocal's current TPV for selected merchants divided by these merchant's mapped opportunity in all countries dLocal operates in. Total wallet data are based on information provided by selected merchants in collaboration with their accounts managers d. 36#3712 Strong growth in share of wallet Share of wallet example: one merchant, one geography, one payment method # of Countries # of Prod./Servic. Merchant I TPV Evolution APM # of Pmt. Methods 2019 2020 9 2 43 2021 2022 50% Share of Wallet APM Brazil 14 2 71 & Merchant II TPV Evolution Credit and Debit Card 2019 Meanwhile growing overall merchant connections (products, PMs and geographies) 4 2 2020 77 2021 2022 90% Share of Wallet Credit and Debit Card Mexico 12 4 289 Merchant III TPV Evolution Credit and Debit Card 2020 2 1 25 2021 2022 6 2 62 100% Share of Wallet Credit and Debit Cards South Africa Note: Share of wallet is calculated as dLocal's current TPV divided by the merchant's full traffic, considering the mentioned geography and payment method. Total wallet data are based on information provided by the merchants in collaboration with their accounts managers d. 37#38Axis 3: Geographies PRODUCT MERCHANTS GEOGRAPHIES 38#39Solid and well thought-out expansion strategy We started by providing a simple payment infrastructure for one client in one country, then grew to add new countries and payment methods, driven by our merchants' needs 2 # of Countries # of Payment Methods Started in Brazil 8 80+ 2016 I Expanded in LatAm & started other regions C* 9 Note: # of payment methods consider methods regardless of the TPV 120+ 2017 12 200+ O 2018 16 300+ I Rapidly Expanded to Asia and Africa 2019 26 450+ AUHY 2020 35 700+ WH V 2021 40 900+ CON HO 2554 75 2022 d. 39#40| Global Company, Global Merchants, Local Expertise I. Discover Evaluate merchants' needs Analyze market attractiveness Analyze country's payment ecosystem II. Launch Build the team: we bring dLocal "ambassadors" to the new geo and we hire local experts Connect and engage with local advisors and with local authorities Comply with local regulations Leverage on existing and scalable API Partner with local acquirers, banks and local payment methods III. Accelerate Scale volume: leverage sales team to grow the region Enhance connections and build additional ones Improve performance d. 40#41Opening new geos through building deep local knowledge Market Entry * 2018 2020 Motivated by: * global streaming and global travel merchants one of the largest athletic global brands Regulatory Framework Collaborated with local regulator to evolve the regulatory framework We rapidly built the understanding of the regulatory framework and requirements, enabling us to secure operating license from the central bank in less than 90 days Source: Payment landscape data reflects dLocal's estimates and AMI ■ Fragmented Payment Space Untapped market lacking robust global e-commerce payment infrastructure Non-card e-commerce transactions: ★ ~70% ▶ ~50% Small portion of internationally recognized cards limiting global merchant access Low Competition Local competitors unable to serve global merchants, only international merchant acquirers viable (limiting access to a small segment) ▪ Global players offering very limited solutions due to lack of direct local acquiring connections CASE EXAMPLES MOROCCO PHILIPPINES Improved Conversion dLocal enabled local payment and improved conversion rates by over 40% * Integrated 98% of non-card payment methods and most of the cards First to enable cross-border merchants d. 41#42IdLocal's Platform: Triggering Network effects PRODUCT GEOGRAPHIES ~100K POTENTIAL CONNECTIONS ~5K POTENTIAL CONNECTIONS 2018 2022 MERCHANTS Note: Total network is the product of each of these variables in the specific year: (i) dLocal's current merchant base excluding small and medium-sized businesses in our marketplace solution; (ii) dLocal's total number of operating countries; and (iii) dLocal's product offering. d. 42#43Competitive landscape d.local Adyen International Acquirers Global banks Other regional PSPS Local acquirers Note: based on DLO's internal assessment Merchants GLOBAL PAYIN PAYOUT O Product CROSS-BORDER LOCAL-TO-LOCAL O LATAM Markets AFRICA ASIA Limited to international enabled cards Limited to single market d. 43#44dLocal positioned to lead in pursuing the $1.4TN¹ market opportunity Unique, difficult to replicate product Exceptional relationships with global customers, who expand with us Outstanding execution in new countries: global outlook and local expertise All this is driving exponential growth in the value of our platform Note: ¹2022 market opportunity. Market opportunity represents estimated total digital payments volume in the countries in which we operate. The calculation of market opportunity is based on a report prepared by Americas Market Intelligence, LLC, or AMI, as commissioned by dLocal at the time of its IPO and updated by an independent third party advisor. The total market opportunity was calculated for pay-in (including cross-border and domestic) and pay-out (including ride-hailing, delivery apps, property rentals, freelance work and international remittances) volumes across 39 countries in which dLocal operates. Data provided by AMI was updated based on a set of macroeconomic indicators for each country, including changes in GDP, private consumption expenditures, imports of goods and services, and foreign remittances. For the countries in which it was not possible to update the values by reference to macroeconomic indicators, a combination of metrics was used to estimate e-commerce market share, including comparing market share with neighboring countries, relative penetration of mobile subscriptions, and other methods. Pay-in includes all online purchases of goods and services, regardless of the device or payment method used, in all verticals. Pay-out is defined as payments made by companies to individuals for contract services rendered or for other purposes (e.g., international remittances and freelance work). The calculation of market opportunity and expected growth in market opportunity is based on current estimates and assumptions. Amounts are subject to change and we undertake no duty to update this outlook. d. 44#45d.local Developing new markets 6 Jacobo Singer Co-President & COO Moses Sule Head of Growth Africa#46Building the best Payments Platform for Global Merchants in Emerging Markets Global Merchants PSP PSP Acquirer PSP Acting PSP Acquirer lesuere 998 PSP Acquirer Inquers PSP Acquirer PSP Acquirer Insuers PSP Acquirer Issuers 888 Acquirer Issuers PSP Acquirer Issuers PSP 10 706 10: PSP Acquirer Issuers PSP Acquirer Issuers 006 PSP Acquirer Issuers PSP Acquirer Issuers CON PSP AC BOU PSP Acquirer Issuers Acquirer Acquires here d.local PSP Acquirer Issuers FX Regulation & Compliance Multiple geographies Multiple payment methods Multiple products PSP PSP Acquiring BOD PSP www PSP Acquirer Issuers PSP Acquirer Issuers ABA 603 99 PSP Acquirer issuers PSP Acquirer Issuers 1930 999 PSP PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Insuers 888 PSP Acquirer Issuers PSP Acquirer Issuers DA PSP Acquirer Issuers PSP Acquirer Issuers 200 Acirer Issuers PSP Acquirer Issuers 889 PSP Acquirer PSP Issuers Acquire Issuers Con PSP Acquirer Issuers PSP Acquirer Suers LE en PSP Acquirer Issuer PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Is ob PHO BOJ PSP Acquire 989 Acquirer Issuers Issuers GO JOS 22 888 PSP Acquirer Issuers 888 Acquirer 999 PSP Acquirer bere 888 PSP Acquirer Insuers PSP Acquirer Issuers PSP Acquirer Issuers PSP 999 Acquirer 300 Issuers COP$ Rs Rp S/. 888 PSP Acquirer N P B/. E£ B/. R$ ARS$ MXN$ Rp CANE NOHE HUY a AFRICA XX! ASIA LATAM Consumers in Emerging Markets d. 46#47d.local Navigating global regulatory complexity for our clients Gabriela Vieira General Counsel#48Building the best payments platform for global merchants in Emerging Markets Global Merchants PSP PSP Acquirer PSP Acting PSP Acquirer lesuere 998 PSP Acquirer Inquers PSP Acquirer 888 PSP Acquirer Insuers PSP Acquirer Issuers 888 Acquirer Issuers PSP Acquirer Issuers PSP 10 700 PSP Acquirer Issuers. 400 PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Issuers CON PSP AC Acquires here BOU Acquirer PSP Acquirer Issuers d.local PSP Acquirer Issuers FX Regulation & Compliance Multiple Multiple PSP Acquiring payment Multiple products PSP geographies methods BOD PSP www PSP Acquirer Issuers PSP Acquirer Issuers ABA 603 99 PSP Acquirer issuers PSP Acquirer Issuers 1930 999 PSP Acquirer Issuers PSP mars PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Insuers 888 PSP Acquirer Issuers PSP Acquirer Issuers DA PSP Acquirer Issuers PSP Acquirer Issuers 200 Acirer Issuers PSP Acquirer Issuers 888 PSP Acquirer PSP Issuers Acquire Issuers Con PSP Acquirer Issuers PSP Acquirer Suers LE en PSP Acquirer Issuer PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer I Con PHO BOJ PSP Acquire 989 Acquirer Issuers Issuers GO JOS 22 888 PSP Acquirer Issuers 888 Acquirer 999 PSP Acquirer bere 888 PSP Acquirer Insuers PSP Acquirer Issuers PSP Acquirer Issuers PSP 999 Acquirer 300 Issuers COP$ Rs Rp S/. 888 PSP Acquirer N P E£ B/. B/. R$ ARS$ MXN$ Rp CANE NOHE HUY a AFRICA XX! ASIA LATAM Consumers in Emerging Markets d. 48#49Complexity takes different shapes and regulatory adaptability is key VION INGAN Highly diverse and complex regulatory environment 47 Ever changing and evolving legal framework Local idiosyncrasies require country by country approach d. 49#50One contract: compliance across 40 countries Commercial layer Integration layer Product layer Localization layer Compliance, Tax Management, FX, KYC, Treasury, and more Local partner layer¹ Local Acquirers, Alternative Payment Methods, KYC, and more Note: 'Illustrative and selected local partners. dLocal API → Brazil | stone cielo pix One contract No-code tools dLocal Core Services Mexico BANORTE penpay OXXO Nigeria Interswitch Zenith Bank ZENITH Plugins India Indusind Bank UPI LINIFIED PAYMENTS INTERFACE 40 countries d. 50#51I Our value proposition is to provide an all-in-one EM compliance solution for global merchants Licenses International settlement & FX Management Note: dLocal does not provide consultancy services to its merchants on the matters above One contract Local settlement FULL LOCAL COMPLIANCE FX Fraud and Financial Crime Prevention Regulatory Updates Tax Management d. 51#52We deploy regulatory infrastructure to unlock EMs for our merchants Payment License, Registration or Permission Holder Payment License, Registration or Permission in Process Obtained one License, Registration or Permission, additional ones in process. Countries where dLocal operates without need of a license Note: dLocal relies on the support of local lawyers to define the specific licenses, registrations and/or permissions needed per country. We are licensed in Malta, enabling access to the European Union. d. 52#53| We have become experts in efficiently building EM compliance infrastructure Months to obtain license after application/market entry: Year of application 14.5 Nigeria 2021 10.0 Mexico 2021 6.5 Rwanda 2022 6.5 Kenya 2022 1.0 Peru 2023 With each new license and registration we apply for, we acquire experience and know-how, becoming more efficient and optimizing synergies d. 53#54dLocal is quick to adapt to local regulatory changes and update merchants Merchants can rely on dLocal to navigate the fluctuating reality of emerging markets We provide a stable, adaptable solution throughout dLocal has become a proactive participant in paymen regulation evolution in emerging markets d. 54#55We have a deep understanding of tax and FX regulation in the markets we operate Multiple tax and FX regulations, multiple exchange rates, highly influenced by macroeconomic conditions As tax authorities understand the importance of ecommerce, the legal framework can evolve quickly dLocal works to solve these and other complexities, such as reporting obligations to local authorities, access to US dollars, or withholding and then paying taxes in local-to-local transactions < Shopping Continue Shopping cart You have 3 item in your cart -rem CREDIT CARD 1234 56 18 4922 3956 Eyeshadow Palette Eyelashes Kit 3 colors highlighter Im ¥681 £10 Σ P100 > > Card Details Payment Method Details Selected Currency Subtotal Taxes Total (Shipping incl.) B1,672 =THB-B B1,668 B4 B1,672 Checkout → d. 55#56Our solution provides cross border tech-intensive fraud and financial crime prevention Transaction Monitoring System powered by Artificial Intelligence Identity Verification Systems Cooperation with local authorities Cross data among countries and regions d. 56#57Why global merchants choose dLocal We provide many local and cross border compliance solutions in one contract We reduce regulatory uncertainty in the markets in which we operate Chak We adapt fast to local changes and maintain a resilient solution throughout evolving realities We use technology and local expertise to not only react, but proactively accelerate changes in Emerging Markets d. 57#58We are ready to tackle new markets and realities We understand and share the mission with local regulators of empowering Emerging Markets and promoting financial inclusion 5945 d. 58#59d.local Delivering tailored solutions at scale Federico Mazzoli VP Product#60Building the best payments infrastructure for global merchants in Emerging Markets Global Merchants PSP PSP Acquirer PSP PSP Acquirer lesuere 896 PSP Acquirer Inquers PSP Acquirer PSP Acquirer Insuers PSP Acquirer Issuers Acquirer issuers PSP Acquirer Issuers PSP Ob PSP Acquirer Issuers. PSP Acquirer Issuers PSP Acquirer Issuers 888 PSP Acquirer Issuers 890090 PSP Acquirer Issuers CON Acquirer Acquires here d.local PSP Acquirer Issuers PSP Acquirer Issuers FX Regulation & Compliance Multiple geographies Multiple methods payment Multiple products PSP PSP Acquiring CH BOD FSH www PSP Acquirer Issuers PHO 503 99 PSP Acquirer issuers 888 989 PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Issuers AHO 888 PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Insuers 888 PSP Acquirer Issuers PSP Acquirer Issuers DA BO PSP Acquirer Issuers PSP Acquirer Issuers 200 Acirer Issuers PSP Acquirer Issuers PSP Acquirer Suers gon PSP Acquirer Issuers PSP Acquirer PSP Issuers Acquire Issuers PSP Acquirer Issuer PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Is ob PHO Im BOJ Acquirer Issuers PSP Acquire Issuers 888 GO JOS 22 898 PSP Acquirer Issuers Acquirer PSP Acquirer bere 888 PSP Acquirer Insuers 999 PSP Acquirer Issuers PSP Acquirer Issuers PSP 999 Acquirer 300 Issuers COP$ Rs Rp S/. 888 PSP Acquirer N P E£ B/. B/. R$ ARS$ MXN$ Rp CANE NOHE HUY a AFRICA XX! ASIA LATAM Consumers in Emerging Markets d. 60#61dLocal is the payment service provider of choice powering a range of business models in emerging markets ∞ Meta → Brazil - Pix facebook Vencimiento: ID da transação: pix R$ 200 2022/12/27 00020101021226990014br.go 10 Escaneie o QR Code ou copie e cola o ID da transação para fazer o pagamento a partir da aplicação do seu banco. COPIA E COLA ID Social Network amazon < Back ← Selecciona un método de pago -... Mi tarjeta está en CLP. Pago completo Chile - Local Cards with Installments 3 cuotas mensuales sin interés Mi tarjeta está en USD. Pago completo E-commerce Marketplace M-Pesa M-PESA # Enter your phone number below to pay for Spotify with M-Pesa. You will receive instructions from M-Pesa to complete your purchase. Mobile number +254 123 456 789 (&= Spotify By purchasing, you authorize Spotify to charge you the price above for the duration you selected. You agree that your right of withdrawal, including refund, is available within 14 days of purchase but is lost if your use Spotify during that time. If you have a recurring Kenya - M-Pesa £ & and for men and any or By using and vis od Cooki = + 1 4 %/7 2 5 3 6 8 9 Music Streaming ? ! deel. G) Hello! AVAILABLE BALANCE P 19.71 Date & Time Amount Lood Reference Number Transaction Details. Received GCash from Union Bank of the Philippines with account ending in 6790 and invno:286746 BUY NOW> Philippines - Payouts to e-wallets You'll love this! Transfer Okay HELP + Cash in May 31, 2023 08:27 PM 2010149950309 Payroll +11.0 Show more d. 61#62Centralizing payment operations from 40+ complex markets in one place d-local Transactions Refunds Chargebacks Balance Upload File Settings Created on: 05/31/2023 - 05/31/2023) Q Search... PAID 146,147.17 USD Status = PENDING PENTING PENDING PAID PENDING PENDING PAID PENDING 96,352.32 USD Reference Invoice = Creation date Payment method Country D-18376-9771364... 61064459194720... 05/31/2023, 12:00:02 a.m. D-18376-50090aef.. 59555701978864... 05/31/2023, 12:00:05 am D-18376-04bd9c87- 63478279253347 05/31/2023, 12:00:12 a.m. D-18376-0103626e 64995900934915. 05/31/2023, 12:00:12 a.m. R-18376-68c47404. 61323535668819... 05/31/2023, 12:00:15 am R-18376-208398bb.. 59095504124900.. 05/31/2023, 12:00:16 a.m. D-18376-54ece9b9 62347890799711... 05/31/2023, 12:00:17 a.m. ● SE EY • PC • FW MX EG EG co CO CO EG Amount USD 11.32 USD 3.90 USD 2274 USD 8.96 USD 13:65. USD 3.00 Rows to display: 25 MXN 200.00 Local amount Transaction type= EGP 200.00 EGP 120.00 COP 100.000.00 COP 39,401.00 Test mode COP 60,000.00 EGP 92.40 Export PAYMENT PAYMENT PAYMENT PAYMENT PAYMENT PAYMENT PAYMENT COK-54-66 CBK-58-66 Paym C Link U https The payment link is ready to be shared Copy this URL to share it with your customer, paste it into an email, on a SMS or share it on social media Country: KE| Amount: KES 1000 GD https://paylink.dlocal.com/link/D0D0A2574515453CB2 CREATE NEW LINK Only PDF files are allowed to be uploaded. Maximum file size: 0.7MB COPY LINK This is a unique payment link, you can track the status from the Transactions section on the dashboard. Upload file Include all the information (rebuttal letter and compelling evidence) in just one PDF document. Drag files to upload ---- or select a file ---- Choose file Input any comments regarding the dispute: X 85- Submit ad861 Title Shoes Rows per p Dispute Documentation The following documents will be uploaded for dispute: Files to upload: No documents uploaded. A1171 090-43a 280 mntjqvth essage un Mart d d. 62#63We have a clear, customer and profit-driven approach to building products B2B Native Cater to enterprise needs & ensure product-market fit Prioritize new developments by business impact Gross Profit as our north star 000 Develop scalable solutions with our one-API principle S Agile to the core d. 63#64Why choose dLocal over the competition? Example Cross-border Payments Localized payment methods in EM Dlocal Custom solutions Yes, always Yes State-of-the-art API and global integration Yes support Yes Note: based on dLocal's view on solutions/competitors Local PSPS Stone in BR, Prisma in AR No Yes, but extremely fragmented No No Regional PSPs Mercadopago in LATAM, Xendit in SEA Rarely Yes No Rarely Global PSPs Adyen, Stripe Not always Very limited Very limited support in EM No d. 64#65dLocal Stack is reflected both on our teams and technology Commercial layer Integration layer Product layer Payins, Payouts, Dlocal for Platforms, Invoice Collection, Local Issuing, Fraud Prevention, Smart Routing, and more Localization layer Compliance, Tax Management, FX, KYC, Treasury, and more Local Partner layer¹ Local Acquirers, Alternative Payment Methods, KYC/Fraud partners and more Note: Illustrative and selected local partners. dLocal API → Brazil stone cielo pix One contract Reverse APIs & Custom Checkouts dLocal Core Services Mexico | BANORTE penpay OXXO Nigeria Interswitch Zenith Bank ZENITH No-code tools & Plugins India Indusind Bank UPI LINIFIED PAYMENTS INTERFACE 40 countries 900+ payment methods d. 65#66Maximize reach with local acquiring + local payment methods Customers with access to international credit card (9) (9) (): Before Dlocal Merchant International Card Acquirer :( (8:0 (:( :( ):) : Local Acquirer 1 (8) (88) Local Acquirer 2 (:) With Dlocal Merchant d.local (O) Local Payment Method 1 (8) Local Payment Method 2 (Ⓒ (8) (:) Local Payment Method 3 (8) d. 66#67Maximize conversion rates with Smart Routing & Chaining س Merchant d.local Note: Illustrative example BANORTE Openpay affipay Ev Smart Router dynamically chooses the best-performing acquirer X Openpay If there's a soft-decline, Smart Chaining re-routes to the second-best alternative P DiDi Food Didi Food in MX 2.6pp increase with Smart Router 7pp increase by also enabling Smart Chaining d. 67#68Solving friction in emerging markets since 2016 Payins 2016 Save cards Payouts 2018 White-label local payment methods 2020 Multi-currency Tax Management Payouts to digital accounts Payouts via SFTP Refunds for APMs Local Issuing 2022 New Smart Router Payment Links Beneficiary account validation Local Issuing API Today Card Tracking dLocal for Platforms Invoice Collection d. 68#69salesforce Dlocal for Platforms End-to-end suite of products for marketplaces and other platforms One solution for 40+ complex emerging markets Trusted by SHEIN Microsoft Note: Selected merchants tiendanube SHEIN inDrive amazon bumble Tencen 69#70dLocal for Platforms is designed for flexibility Marketplace Split payments and Cross-border settlement a Buyer Platform d.local Seller ALL Seller A 100 Seller Ride-sharing Direct-to-seller + wallet-as-a-service + card issuing 8 Rider 5610 Driver Driver Platform d.local Social Media Centralized Balance and Local + Cross-Border Payout 8 User LLOOO. Platform d.local Seller 8 Content Creator Content Creator d. 70#71dLocal for Platforms suite of products 1 Onboarding & KYC Seamlessly onboard and verify users at scale, having full control of the UX or using dLocal's hosted flow. 2 Accept Payments Allow users to pay in local currency, using the most relevant payment methods in emerging markets 3 Move funds Split payments or transfer funds between any number of users or platform accounts 4 Settlement Manage and automate settlements either locally or crossborder 5 Platform Management Manage a global platform from one place. Consolidated reporting, refund and chargeback management and more d. 71#72The challenge? Make Platforms possible in 40 emerging markets d. 72#73Invoice Collection The power of Dlocal now made available to collect payments from large paying customers One solution for 40 complex emerging markets Trusted by aws Note: Selected merchants salesforce ∞ Meta Google d. 73#74% ($. d. Flexible tools for multiple use cases No coding required Local tax management Pay using local rails One solution for 40 complex emerging markets ce Collection Link U Merchant-initiated payments Payment request Country where the paymencollected South Africa Customer details 3123412312 Tax 10 1207198912116 Bar mazzodica.com x Customer (pon) Federico Mazzoli CUIT Send the payment request automatically via email Cobro de facturas Pan Argentina Nota: el tipo de cambio para hoy es USD 1= 222 ARS E-mail Ingrese sus datos AWS Customer ID account. Customer-initiated payments Company Name (optional) USD Adjunte las facturas que desea pagar. Tax will be retained by Customer Payment request CANCEL 7172372 Monto neto total en USD Monto neto total en ARS Costo transaccional Monto total a pagar Desarrollado por dLocal NEXT GENERAR VOUCHER DE PAGO Customer-initiated 1000 USD 0 ARS O ARS 0 ARS O Al crear este voucher, estás aceptando los Timings x sendiciones 1000 GREATE PAYMENT REQUEST d. 74#75With Dlocal for Platforms and Invoice Collection we continue to expand our target market Customer Small Customers Enterprise Customers dLocal Payins dLocal for Platforms Invoice Collection Merchant Payments Teams Small & Medium business Accounts Receivables teams Global Enterprises d. 75#76d.local Growing together with our merchants John O'Brien CRO#77Building the best payments platform for global merchants in Emerging Markets Global Merchants PSP Acquirer PSP Aciting PSP Acquirer Hal 040 PSP Acquirer Inquers PSP Acquirer PSP Acquirer Insuers Ob PSP Acquirer Issuers 888 Acquirer Issuers PSP Acquirer Issuers PSP 706 PSP Acquirer Issuers 400 PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Issuers CON PSP AC Acquires here BOU Acquires PSP Acquirer Issuers d.local PSP Acquirer Issuers FX Regulation & Compliance Multiple geographies Multiple payment PSP Multiple products PSP Acquiring methods CH BOD FSH www PSP Acquirer Issuers PSP Acquirer Issuers ABA 603 99 PSP Acquirer issuers PSP Acquirer Issuers 930 999 PSP mars PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Insuers 888 PSP Acquirer Issuers PSP Acquirer Issuers DA PSP Acquirer Issuers PSP Acquirer Issuers 200 Acirer Issuers PSP Acquirer Issuers 888 PSP Acquirer PSP Issuers Acquire Insiders Con PSP Acquirer Issuers PSP Acquirer Suers LE en PSP Acquirer Issuer PSP Acquirer Issuers PSP Acquirer Issuers PSP Acquirer Isr 10₂ PHO BOJ PSP Acquire 989 Acquirer Issuers Issuers GO JOS 22 888 PSP Acquirer Issuers 888 Acquirer 999 PSP Acquirer bere 888 PSP Acquirer Insuers PSP Acquirer Issuers PSP Acquirer Issuers PSP 999 Acquirer 300 Issuers COP$ Rs Rp S/. 888 PSP Acquirer N P B/. E£ B/. R$ ARS$ MXN$ Rp CANE NOHE HUY a AFRICA XX! ASIA LATAM Consumers in Emerging Markets d. 77#78The biggest names trust us Selected Merchants amazon.com deel. Meta S shopify DiDi e expedia group Microsoft NETFLIX → Pedidosya Spotify Telegram Tencent Note: Selection of merchants and merchant logos that we have previously disclosed as existing clients Google HBO Rappi salesforce Uber wish mailchimp SHEIN Among many other global brands! d. 78#79We are customer obsessed, which reflects on our commercial strategy and structure * DOO Dedicated client teams Constructive feedback loops with clients Regional team structure "Follow the Sun" customer support Effective lead generation Targeted event presence and content generate Inbound Leads Insights from existing clients generate Outbound Leads One dLocal Single API/contract: 900+ payment methods in 40+ EMs Proven ability to develop tailor-made solutions Distinctive service through "True Localisation" Land & expand "Land" new clients using insights learned from industry pain points (e.g. no marketplace solution for EMS), or players with similar needs actively targeting "emerging verticals" (e.g. Al) "Expand" via cross-selling and strategic support engagement d. 79#80Our Go-to-Market strategy has three stages: each one with a clear and proven approach 1 Lead generation Inbound and outbound lead generation, each with its own team Feedback from new and existing clients results in continuous improvement Main verticals include: Retail, Ridesharing, Streaming, Gaming, Social Media & Advertising, Payroll, Travel, SaaS and others 4 Constructive feedback loop 2 New client onboarding and integration Localized Sales teams assigned for every deal Technical support and others areas engaged in every part of the process as needed 3 Long-standing partnerships - Land and Expand Designated Account Managers "own" the client Follow the Sun Customer Success teams Best in class client experience delivered through regionalized support model and local expertise d. 80#811 Lead generation We target potential new clients through inbound and outbound lead generation Inbound lead generation Outbound lead generation Events: participation and sponsorship in targeted industry events Marketing campaigns: tailor-made content to generate awareness and potential leads In-house content generation: Localized content to engage with potential leads over newsletters, social media, articles and others Vertical Attractiveness targeted outreach, based on prior success in vertical, Active feedback loop we get from current clients to define the approach. Account Based Outreach for key leads. Companies that would benefit from dLocal's services are carefully analyzed and targeted with tailor-made strategies Constant research for new leads based on data such as clients website tracking, payment methods offered, markets covered, and more. d. 81#822 Actions Teams New client onboarding and integration Initial communication Sales team assigned Sales Development Sales Once a lead qualifies as a selling opportunity, we engage the Sales team to close the deal and onboard the new merchant Detailed next Proposal and commercial negotiation Needs & pricing agreed Sales Operations In specific cases, future Account Manager and Product teams Due diligence and agreement KYC & Contract Sales Legal Compliance In specific cases: Account Management Integration API Integration Sales Sales Engineers In specific cases: Account Management GO LIVE Live tests Client starts processing Sales Sales Engineers d. 82#832 New client onboarding and integration Proposal and commercial negotiation: We have a clear commercial strategy that we ask our teams to deploy 000 Identify clear client pain-points and develop solutions Define pricing schedules based on value dLocal brings to the deal Prioritize absolute gross profit dollars Establish transparent pricing and other commercial conditions in agreements and contracts d. 83#842 New Sales # of deals Existing Clients # of deals New client onboarding and integration Global Multi Vertical Regional & vertical champions Growth companies Subtotal new sales Global Multi Vertical Regional & vertical champions Growth companies Subtotal existing clients TOTAL Source: dLocal analysis. Data as of June 1st, 2023 Healthy commercial pipeline, with major deals coming up in both new sales and existing clients Initial communication 0 ≈80 ≈110 ≈190 ≈10 ≈50 =40 ≈100 ≈290 Proposal and commercial negotiation 0 ≈60 ≈160 ≈220 ≈20 ≈30 ≈20 ≈ 70 ≈290 Due diligence and agreement 1 =40 ≈30 =70 ≈15 =25 ≈10 ≈50 ≈120 Integration 2 ≈80 ≈80 ≈160 ≈5 =35 ≈100 ≈140 ≈300 d. 84#853 Long-standing partnerships - Land and Expand Land and expand: new client onboarding Selected merchants examples Largest social network Multinational online payments company Top domain registers and web hosting company E-commerce platform for Latam consumers Leading global payment network Cross border payroll Most popular ride hailing app Global e-commerce and logistics platform Leading global payment network World's largest OTA Cross border bank payments Third most popular ride hailing app worldwide #1 streaming service worldwide #2 streaming service worldwide & marketplace Ride hailing app #1 internet search engine Leading payroll and compliance provider OTA Leading delivery app in Latam Cross border transfers app Online fast fashion #6 streaming service worldwide Chinese video sharing app Leading video sharing social media app Note: dLocal analysis. Selected merchants. 2016 Q1 Q2 Q3 Q4 Q1 2017 Q2 Q3 Q4 Q1 2018 Q2 Q3 Q4 Q1 2019 Initial Purchase Q2 Q3 Q4 Q1 2020 Q2 Q3 Q4 Q1 2021 Q2 2022 Q3 Q4 Q1 Q2 Q3 2023 Q4 Q1 d. 85#863 Long-standing partnerships - Land and Expand Land and expand: upselling of new markets and products Selected merchants examples Largest social network Multinational online payments company Top domain registers and web hosting company E-commerce platform for Latam consumers Leading global payment network Cross border payroll Most popular ride hailing app Global e-commerce and logistics platform Leading global payment network World's largest OTA Cross border bank payments Third most popular ride hailing app worldwide #1 streaming service worldwide # 2 streaming service worldwide & marketplace Ride hailing app #1 internet search engine Leading payroll and compliance provider OTA Leading delivery app in Latam Cross border transfers app Online fast fashion #6 streaming service worldwide Chinese video sharing app Leading video sharing social media app Note: dLocal analysis. Selected merchants. 2016 Q1 Q2 Q3 Q4 Q1 2017 Q2 Q3 Q4 Q1 2018 Q2 Q3 Q4 Q1 2019 Initial Purchase New Country Q2 Q3 Q4 Q1 2020 Q2 Q3 Q4 Q1 2021 Q2 Q3 2022 Q4 Q1 Q2 Q3 Q4 23 2023 Q1 d. 86#873 Long-standing partnerships - Land and Expand Land and expand: increasing our share-of-wallet Selected merchants examples Largest social network Multinational online payments company Top domain registers and web hosting company E-commerce platform for Latam consumers Leading global payment network Cross border payroll Most popular ride hailing app Global e-commerce and logistics platform Leading global payment network World's largest OTA Cross border bank payments Third most popular ride hailing app worldwide #1 streaming service worldwide #2 streaming service worldwide & marketplace Ride hailing app #1 internet search engine Leading payroll and compliance provider OTA Leading delivery app in Latam Cross border transfers app Online fast fashion #6 streaming service worldwide Chinese video sharing app Leading video sharing social media app Note: dLocal analysis. Selected merchants. 2016 Q1 Q2 Q3 Q4 Q1 2017 Q2 Q3 Q4 Q1 2018 Q2 Q3 Q4 Q1 2019 Q2 Initial Purchase New Country Country 1 M USD/Month Q3 Q4 Q1 2020 Q2 Q3 Q4 Q1 2021 Q2 Q3 Q4 Q1 2022 Q2 Q3 2023 Q4 Q1 d. 87#883 Long-standing partnerships - Land and Expand Land and expand: long-lasting and profitable relationships Selected merchants examples Largest social network Multinational online payments company Top domain registers and web hosting company E-commerce platform for Latam consumers Leading global payment network Cross border payroll Most popular ride hailing app Global e-commerce and logistics platform Leading global payment network World's largest OTA Cross border bank payments Third most popular ride hailing app worldwide #1 streaming service worldwide # 2 streaming service worldwide & marketplace Ride hailing app #1 internet search engine Leading payroll and compliance provider OTA Leading delivery app in Latam Cross border transfers app Online fast fashion #6 streaming service worldwide Chinese video sharing app Leading video sharing social media app Note: dLocal analysis. Selected merchants. 2016 Q1 Q2 Q3 Q4 Q1 2017 Q2 Q3 S 2018 Q4 Q1 Q2 Q3 2019 Initial Purchase New Country Country > 1 M USD/Month 2nd product in existing country Q4 Q1 Q2 Q3 Q4 Q1 2020 Q2 Q3 Q4 Q1 2nd product in existing country > 1 M USD/Month Invoicing Expansion in a New Country Invoicing Expansion in a New Country > 1 M USD/Month 2021 Q2 Q3 Q4 Q1 2022 Q2 Q3 2023 Q4 Q1 d. 88#89Constructive feedback loop dLocal's continuous learning feedback loop provides exponential growth possibilities We onboard and successfully partner with the world's leading and most demanding companies... Regional champions Constructive feedback ecosystem Global Multi Vertical we learn about their pain points and develop solutions that meet their high standards - we then leverage them to work with Regional and Vertical champions Solutions developed for Champions and Growth Companies can be leveraged to upsell bigger merchants Growth companies Vertical Leaders Solutions developed for world-class clients can be used for Growth Companies, that help drive volumes and profitability d. 89#90We have designed our commercial structure to be as close as possible to our clients Localized client facing teams Support Areas New Sales Revenue Operations Marketing & SDR EMEA APAC X CRO John O'Brien Sales Engineers CHINA Dedicated teams to each geo Account Management AMERICAS Customer Success d. 90#91Case Example 1: Leading Global Satellite Internet Provider ■ The problem The company needed a fast and easy expansion in LATAM, APAC & EMEA, but their requirements weren't met by dLocal's competitors: Local presence - they have entities all ▪ over the world but with minimal staffing Clear goal to "Become a Utility" in each market Prior to Dlocal, they were considering integration to 11+ local partners across Africa, APAC and LatAm to meet their launch dates dLocal's expertise Local entities in each of these countries Recurring capabilities in remote places dLocal became their ideal solution They integrated 11 countries at once launching in all in less than a month Outcome dLocal became their go-to partner for expansion Client needed only 1 connection instead of 50+ Client now planning on 20+ markets through Dlocal d. 91#92Case Example 2: Spotify The problem March 2022: Spotify sales in largest African market affected overnight - Nigerian banks imposed limits on US dollar access Spotify collected payments through international acquirers in USD ONLY - its conversion rate dropped below 20% dLocal's solution Our local Nigerian team established partnerships with local banks to enable local acquiring in Nigerian Naira for Spotify, in record time Outcome Spotify: 1. Improved conversion to 60%+ 2. Increased local sales by offering more payment methods and increasing conversion rates d. 92#93We win the most significant deals because of our unique value proposition One dLocal Single API/contract: 900+ payment methods in 40 EMs Proven ability to deliver tailor made solutions Distinctive service and expertise through "True Localisation" Local expertise and increased conversion rates Improved conversion rates through strategic partnerships with local providers Local knowledge and "developed markets" standard of service Dedicated client teams Regional team structure Rapid, localised, follow the sun customer support d. 93#94d.local Our powerful financial model Ⓡ Diego Cabrera Canay CFO#95We built a unique "Growth + Profit + Cash” financial model 1 High Gross Profit Growth 20-22 CAGR 83% 1Q23 (YoY) 42% Retention and cross-selling to existing merchants New merchant pipeline • Efficiency: scale, smart routing, netting 2 High Profitability Adjusted EBITDA / Gross Profit Rule of 40³ 21-22¹ 76% 1Q23 74% Financial discipline Low acquisition costs • Emerging market costs Lean organization 21-22 159% 1Q23 116% 3 Strong Cash Flow Generation FCF / Net Income Conversion² 21-22 100% 1Q23 119% Negative working capital Low Capex requirement Efficient tax structure Note Unaudited quarterly results. 'Adjusted EBITDA/Gross Profit '21-22 calculated as the sum of 2021 and 2022 Adjusted Ebitda divided by sum of 2021 and 2022 gross profit. 2Refer to FCF calculation on page 101. FCF/Net income conversion calculated as calculated as the sum of 2021 and 2022 FCF divided by sum of 2021 and 2022 net income. ³Calculated by adding '20-22 gross profit CAGR and '21-22 Adjusted ebitda / gross profit d. 95#961 High gross profit growth ANNUAL QUARTERLY +126% CAGR¹ TPV ($B) 2020 2.1 1022 2021 3.3 4Q22 10.6 2022 3.6 1023 +70% YoY +8% QOQ Note: 'CAGRs were calculated for a two year period from 2020 to 2022. Unaudited quarterly results Revenue ($M) +101% CAGR¹ 2020 87 1022 2021 118 4022 419 2022 137 1023 +57% YoY +16% QOQ Gross Profit ($M) +83% CAGR¹ 2020 2021 55 44 · 1022 4022 202 2022 62 1023 +42% YoY +12% QOQ d. 96#972 ANNUAL QUARTERLY High profitability Adjusted EBITDA ($M) +91% CAGR¹ 2020 33 1022 2021 40 4022 153 2022 45 1023 +38% YoY +13% QOQ Note: 'CAGRs were calculated for a two year period from 2020 to 2022. Unaudited quarterly results. Adjusted EBITDA / Gross Profit (%) 70% 2020 75% 1022 76% 2021 73% 4022 76% 2022 74% 1Q23 d. 97#98Driven by disciplined and austere spending culture and lean organization Initial scale of the G&A team and capabilities to meet public company standards Incremental expenditure focused on technology, sales and expansion Operational Expenditures ($M) Opex¹ / Gross Profit 123 G&A Expenses 44% 27 21 2020 S&M Expenses 34% 50 3 35 2021 2 33% 68 6 13 46 2022 Technology & Development Expenses CAGR² Total= 58% 78% 116% 46% Non-recurring Expenses Note: ¹Excluding non-recurring expenses. CAGRS were calculated for a two year period from 2020 to 2022. Headcount Gross Profit/ Headcount 194k 310 117 38 155 2020 G&A and Operations Lean organizational structure 244k 535 202 83 250 2021 Sales and Marketing 278k 726 292 143 291 2022 CAGR² Total= 57% Technology 58% 94% 37% d. 98#993 Strong cash generation Free Cash Flow - own funds¹ ($M) +76% CAGR² 36 2020 75 2021 111 56 (*) 55 2022 | +64% YOY 56 14(*) 42 1Q23 Changes in Other Assets Free Cash Flow - own funds¹ / Net Income (%) 127% 2020 96% 2021 102% 51%(*) 51% 2022 I 1 158% 39% (*) 119% 1Q23 Note: ¹FCF is calculated as profit before income tax less income tax paid, +/- non cash adjustments, +/- change in working capital (own) excluding movements in Other Assets for FY22 & 1023, +/- net collection of interest & financial expenses, less additions of property, plant and equipment and intangible assets (excluding PrimeiroPay acquisition in 2021). (*) FCF for FY22 & 1023 excludes inflows & outflows due to movements in Other Assets, which relate to cash in escrow in banks for merchants and banks guarantees, because these movements are expected to be non-recurring and temporary. 2CAGRS were calculated for a two year period from 2020 to 2022. Unaudited quarterly results. d. 99#10021.35 20.00 19.90 21.22 21.00 21.10 20.90 Best-in-class financial performance 20.40 20.30 20.20 20.10 20.80 20.70 21.22 20.50 20.70 20.60 20.50 20.40 21.10 20.90 20.80 21.22 20.70 21.10 20,90 20.60 20.70 20.50 20.40 20.30 20.20 20.10 20.00 19.90 20.50 20.40 20.30 20.20 20.10 20.00 19.90 19.90.35 21.35 21.22 21.00 21.10 20.90 20.80 20.70 20.60 20.50 21.22 21.00 21.10 20.90 20.80 20.70 20.60 20.50 20.40 20.30 20.20 20.10 20.00 19.90 d. 100#101We stand out among our peers in each key financial metric 83% d.local 185% 76% Net Revenue (Gross Profit) 2020-2022 CAGR d.local 74% mercado libre 91% 63% 61% SHIFT4 SHIFT4 82% mercado d.local SHIFT4 nuvei libre 48% EBITDA 2020-2022 CAGR BLOCK nuvei 61% 47% 48% 58% PayPal adyen 45% BLOCK 54% 39% EBITDA / Net Revenue (Gross Profit) 2021-2022 nuvei adyen 35% adyen 19% 8% BLOCK PayPal 3% PayPal 18% mercado libre Peers' average 47% Peers' average 45% Peers' average 44% Note: Peers data collected from publicly available financial statements; growth corresponds to 2 year CAGR 2020-2022. EBITDA/Net Revenue (Gross Profit) corresponds to the sum of years 2021 and 2022 d. 101#102Best result for rule of 40 is over 100% 2021-2022 EBITDA / Net Revenue (Gross Profit) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% PayPal 69% 10% 20% adyen 30% 98% nuvei 1.01% 40% BLOCK 67% SHIFT4 124% 50% 60% d.local 159% 70% mercado libre 92% 80% 90% 100% 2020-2022 Net Revenue (Gross Profit) CAGR Note: Peers data collected from publicly available financial statements; growth corresponds to 2 year CAGR 2020-2022. EBITDA / Net Revenue (Gross Profit) corresponds to the sum of years 2021 and 2022 d. 102#103d.local Product, country and service mix determine changes in net take rate 103#104Share of TPV Share of revenues Net take rate¹ reflects higher share of payouts, local-to-local and country mix Payouts (with lower net take rate) sequentially gained share 24% 76% 4Q21 8% 17% 1% 15% 21% 15% 22% 22% 4Q21 Brazil 78% 1Q22 9% 15% 2% 14% 14% 15% Each country has different net take rates as a result of complexity and maturity of our solution 21% 1Q22 Mexico 23% 77% Argentina 2Q22 3Q22 ■ Payins (%) ■ Payouts (%) 9% 15% 4% 13% 23% 16% 21% 2Q22 25% Note: ¹Net take rate is defined as Gross Profit divided by TPV; 75% Chile 10% 14% 12% 12% 17% 15% 19% 29% 3Q22 ■ Nigeria 71% 4Q22 10% 16% 12% 12% 12% 19% 20% 4Q22 T Other Latam 30% 70% 1Q23 9% 13% 20% 10% 15% 17% 17% 1Q23 ■ Other Asia/Africa Net take rate Local to local (with lower net take rate) sequentially gained share 37% 63% 4Q21 2.1% 38% 4Q21 62% 1Q22 39% 2022 ■ Cross Border (%) 2.1% 61% 1Q22 2.0% 44% 2022 56% 3Q22 ■Local to Local (%) Net take rate varies in line with changes in mix; particularly Q4 2022 had an increase in L2L PO in Mexico (low take rate) and a decrease in revenues in Argentina (high take rate) 2.0% 47% 3Q22 53% 4Q22 1.7% 45% 4Q22 55% 1Q23 1.7% 1Q23 d. 104#105| Take rate is mainly driven by mix of products, services and countries 2.1% 4Q21 -0.1% Payout TPV share +5pp Product Mix -0.2% Local to Local TPV share +10pp Service Mix -0.3% Decrease in AR TPV share & increase in MX TPV share Country Mix 0.1% Processing Cost, Merchant Mix & Pricing 1.7% 4Q22 0.0% Payout TPV share +1pp Product Mix 0.0% Cross-border TPV share +2pp Service Mix 0.1% Increase in AR & NG TPV share Country Mix -0.1% Processing Cost, Merchant Mix & Pricing 1.7% 1Q23 d. 105#106d.local Disciplined capital allocation 106#107Capital allocation strategy designed to maximize shareholder value 0.0.0.0 ● Organic Growth 1 Technology • Expansion • Customer acquisition Strategic Acquisitions ● 2 • Commercial distribution Expansion with focus in Asia and Africa • Product offering PrimeiroPay acquisition Share Buybacks 3 • As long as returns exceed potential strategic acquisitions • Prudent approach maintaining adequate operational liquidity and financial flexibility for potential M&As d. 107#108Our first share buyback program for $100M started in December 2022 and will end in July 2023 Between Dec-2022 and May 15, 2023, we repurchased: 4.4 M shares at an average price of $15 ($67M) 3.4% of our float The $37M acquired in Q1 23 represented 87% of our own FCF, and therefore our own funds continued to grow to $307M¹. Execution continues until we complete the $100M amount or the program expires. Note: 'Includes $233M of own bank accounts plus $74M of profits pending transfer from merchant funds d. 108#109Undervalued on a PEG ratio basis P/E 2023E 80.0x 70.0x 60.0x 50.0x 40.0x 30.0x 20.0x 10.0x 0.0x 0% PayPal 1.0x 10% But mercado libre 2.1x SHIFT4 1.0x 20% adyen 2.0x 30% nuvei 0.6x d.local 0.5x 40% BLOCK Source: Capital IQ as of June 5, 2023. Considers consensus estimates for all companies. 0.8x 50% Net Income Growth 2024E 60% 70% 1.0x PEG 80% d. 109#110d.local Financial objectives aligned with pillars of our business model 110#111| Overall medium term objective: Rule of 40 > 100% Growth For 2023: Maintain annual guidance shared in Q4 '22 earnings Focus on gross profit dollars Maintain low annual churn (<1%) Grow organically with our merchants Add more merchants New countries, more payment methods, higher share of wallet 25%-35% Gross Profit CAGR For medium term: Profitability Sustain EBITDA/gross profit ratio Invest in vectors of long term growth and scalability (technology, expansion, sales and marketing) • Maintain disciplined spending strategy and lean organizational structure >75% Adj. EBITDA/Gross Profit Cash Flow Generation Maintain sustainable capex level Follow merchant demands in product development ● Further automate internal processes to enhance efficiency and controls Up to 5% Capex/gross profit d. 111#112d.local Closing remarks#113On track to build a multi-billion dollar revenue business I We are going after a massive opportunity in Emerging Markets. Unrivaled global merchant base. High stickiness. No churn. Highly profitable, cash generative business. Committed to financial inclusion. Passionate global team, obsessed with solving complexity d.#114d.local