#1Earnings Presentation d.local Q2 2023#2Sebastián Kanovich Co-Chief Executive Officer Pedro Arnt Co-Chief Executive Officer Sergio Fogel Co-President and Chief Strategy Officer Diego Cabrera Canay Chief Financial Officer d. Maria Oldham SVP Corp. Development, Investor Relations and Strategic Finance#3EARNINGS PRESENTATION Safe Harbor This presentation may contain 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," 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. Q2 2023#4We are building the best financial infrastructure for emerging markets Sao Paulo, Brazil GOTIN 17 d. 4#5One stop shop in emerging markets Solving complex payments problems for global merchants d. 5#6Strong performance in 2Q23; delivering highly profitable growth Total Processed Volume $4.4B ▲ +80% YOY | +22% QOQ $2.4 $3.6 2Q22 $4.4 1Q23 Revenue 2023 $161M +59% YOY | +17% QOQ $101 $137 2Q22 $161 1Q23 Gross Profit $71M 2Q23 +43% YOY | +14% QOQ $50 $62 2Q22 $71 1Q23 1Q23 2Q23 Adjusted EBITDA / Gross profit (%) Note: ¹ dLocal has only one operating segment. Although Adjusted EBITDA may be commonly viewed a non-IFRS measure in other contexts, pursuant to IFRS 8, Adjusted EBITDA is treated by dLocal as an IFRS measure based on the manner in which dLocal utilizes this measure. See detailed methodology for Adjusted EBITDA in appendix. Unaudited quarterly results. Adjusted EBITDA $52M ▲ +36% YoY | +14% QOQ 2Q23 77% $38 74% 2Q22 $45 74% $52 d. 6#7We continue to efficiently build capabilities in our global organization dilo The hires for the period were well balanced across the different teams 806 +174 FTES or 28% Employee Growth YoY Note: FTE includes employees and contractors. FTE evolution (#): AFRICA & ASIA 202 ▲ +71% YoY AMERICAS 604 +18% YoY FTE by function (%): 122 Corporate central functions 21% Operations & Expansion 21% Technology 39% Sales & Marketing 20% d. 7#8What fuels our growth engine? 3-fold growth strategy PRODUCTS GEOGRAPHIES MERCHANTS d. 8#9GEOGRAPHIES LATIN AMERICA Key updates Sustained growth rates in Latin America are a true indicator of the hypergrowth potential that we still have in the region Revenue accelerated in Brazil in 2Q23, doubling YoY Continuous growth in Mexico, +77% YoY in 2Q23 Growth in Mexico and Brazil led by merchants in the commerce, advertising, streaming and ride-hailing verticals % share of total revenue 88 2Q22 87% Latin America revenue ($M) 98 1Q23 72% 127 2Q23 79% +29% QOQ +45% YOY GEOGRAPHIES d. 9#10GEOGRAPHIES AFRICA & ASIA Key updates merchants continue to signal strong demand for our solution in Africa and Asia Revenues in the region continue to show solid growth excluding Nigeria, increasing by 52% YoY and 15% QoQ. Egypt, Morocco, Indonesia and Philippines, are growing triple digit YoY. Q2 revenues impacted by the devaluation of the Nigerian Naira. Excluding this effect, revenues would have been in line with Q1 2023. Note: ¹For the estimated impact of the devaluation of the Nigeria's Naira in Q2 2023, we recalculated the revenues for the month of June using May's parameters for each merchant + % share of total revenue Africa & Asia revenue ($M) 14 2Q22 13% 39 1Q23 28% I 34 -12% QOQ +152% YOY 2Q23 21% 1 Impact of devaluation in Nigeria ~$6M¹ GEOGRAPHIES d. 10#11Our client centric approach continues to drive consistently incremental adoption and revenues per merchant Case Example: Leading global e-commerce platform dLocal's effective taylor-made solution available at scale: • We developed a white-label scalable seller onboarding platform We developed a split payment solution to ensure full flow compliance throughout the process and best user experience Increased the merchant's conversion rates with our Smart Routing solution and partnerships with multiple local acquirers Successfully cross-selling geographies, products and services: • Strong TPV growth, increasing >100x from 2021 to 2Q23 # of countries Regions Products Services 2Q21 1 Africa Pay-ins Cross-border 2Q23 7 Africa & Latin America Platform Pay-ins Pay-outs Cross-border Local-to-local d. 11#12Emerging markets are constantly evolving and are highly diverse; agile adaptability is key ARGENTINA In late April, the Central Bank of Argentina amended certain foreign exchange regulations and established new procedures¹ to obtain foreign currency for the settlement of certain services We continue to adapt to the changes and monitor the situation in close collaboration with our merchants NIGERIA In mid June, the Nigerian government implemented a free-floating policy for its local currency, the Nigerian Naira. This has an impact on revenues while neutral on gross profit BRAZIL In July we obtained the Payment Institution license from the Central Bank of Brazil, increasing our competitive advantage in the country Note: ¹Communication "A" 7746 on April 20th, 2023 and General Resolution No. 5351. On April 27th, 2023. d- 12#13Financial Highlights 10.000 d. 13#14Sustained growth rates in Pay-ins and Pay-outs Continuous TPV expansion across services Pay-ins¹ TPV evolution ($B) 1.9 2.0 2022 % share 77% 1.5 2022 3Q22 % share 61% 75% 1.5 3Q22 2.3 Cross-border³ TPV evolution ($B) 56% 4Q22 71% 1.7 4Q22 53% 2.5 1Q23 70% +27% QOQ +70% YOY 3.2 2.0 55% 1Q23 2Q23 +13% QOQ +49% YOY 2.2 73% 2Q23 51% % share % share Pay-outs² TPV evolution ($B) 0.6 2Q22 23% 0.9 2Q22 0.7 39% 3Q22 25% 1.2 3Q22 1.0 44% 4Q22 Local-to-Local4 TPV evolution ($B) 29% 1.6 4Q22 +10% QOQ +114% YOY 47% 1.1 1Q23 30% 1.6 1Q23 1.2 +33% QOQ +128% YOY 2.2 45% 2Q23 27% 2Q23 49% d. Note: ¹"Pay-in" means a payment transaction whereby dLocal's merchant customers receive payment from their customers. 2"Pay-out" means a payment transaction whereby dLocal disburses money in local currency to the business partners or customers of dLocal's merchant customers.³"Cross-border" means a payment transaction whereby dLocal is collecting in one currency and settling into a different currency and/or in a different geography. 4"Local-to-local" means a payment transaction whereby dLocal is collecting and settling in the same currency. 14#15Strong revenue growth, reaching a record of $161M in 2023 Revenue evolution ($M) 101 2Q22 112 3Q22 118 4Q22 137 1Q23 +17% QOQ +59% YOY 161 2Q23 $9M of gross profit addition QoQ, highest contribution in the past 2 years Gross Profit ($M) evolution 50 2Q22 54 3Q22 55 4Q22 62 1Q23 +14% QOQ +43% YOY 71 2Q23 d. 15#16Changes in gross margin and net take rate driven by business mix 45% 1Q23 Gross Profit margin (%) QoQ bridge -0% +3p.p. increase in pay-ins TPV share Product mix -1% +4p.p. increase in local-to-local TPV share Service mix -2% Decrease in Argentina revenue share 2% Merchants growth especially in Brazil Country mix Processing cost, merchant mix and pricing 44% 2Q23 1.7% 1Q23 Gross Profit over TPV (%) QoQ bridge 0.0% Product mix -0.1% +4p.p increase in local-to-local TPV share Service mix -0.1% Decrease in Argentina revenue share 0.0% 1.6% Country mix Processing cost, 2Q23 merchant mix and pricing d. 16#17Strong Adjusted EBITDA and net income growth, maintained solid Adjusted EBITDA over gross profit stable at 74% Adj. EBITDA¹ ($M) and Adj. EBITDA margin (%) evolution Adj. EBITDA Margin Adj EBITDA over Gross Profit 38 2Q22 38% 77% 42 3Q22 37% 77% 40 4022 34% 73% 45 1Q23 33% 74% +14% QOQ +36% YOY 52 2023 32% 74% Net income evolution ($M) 31 2Q22 Diluted EPS² 0.10 32 3Q22 0.10 19 4Q22 0.06 35 1Q23 0.11 +26% QOQ +46% YOY 45 2Q23 0.15 d. 17 Note: 'dLocal has only one operating segment. Although Adjusted EBITDA and Adjusted EBITDA Margin may be commonly viewed as non-IFRS measures in other contexts, pursuant to IFRS 8, Adjusted EBITDA and Adjusted EBITDA Margin are treated by dLocal as IFRS measures based on the manner in which dLocal utilizes these measures. See detailed methodology for Adjusted EBITDA and Adjusted EBITDA Margin in appendix. 2Our diluted earnings per share is calculated by dividing the profit attributable to owners of the group of dLocal by the weighted average number of common shares outstanding during the period plus the weighted average number of common shares that would be issued on conversion of all dilutive potential common shares into common shares.#18Strong cash generation from operating activities Consolidated cash reconciliation ($M) 518 Consolidated cash (1Q23 EOP) 54 Net income before taxes -3 Income tax paid +$141M -2 Increase in other assets +$32M 98 Change in trade receivables /payables -7 Other 659 -61 -48 Consolidated Share repurchase Investment in cash (SBB) Bonds before SBB & Bonds 549 Consolidated cash (2Q23 EOP) Ⓒ ● Strong FCF¹ (own-funds) generation: $83M in the first half of 2023 ($41M in 2Q23) Cash conversion² > 100% in the first half of 2023 Note: ¹FCF (own-funds) is calculated as profit before income tax less income tax paid, +/- non cash adjustments, +/- change in working capital (own) excluding movements in Other Assets +/- net collection of interest & financial expenses, less additions of property, plant and equipment and intangible assets. FCF excludes inflows & outflows due to movements in Other Assets, because these movements are expected to be non-recurring and temporary. 2Cash conversion is calculated as Free Cash Flow (own-funds) divided by net income#19Highlights d.local We power a massive and expanding emerging markets ecosystem accepting more than 900 local payment methods across 40+ countries We are directly integrated with some of the world's largest online merchants, driving very strong NRR and cohort performance We have built a scalable, single API technology infrastructure that makes the complex simple for merchants across emerging markets Our business model is diversified across industries, clients and geographies We are growing rapidly and profitably at scale with strong cash generation d. 19#20Thanks d.local#21APPENDIX d.#22TPV TPV breakdown by type of product¹ In millions of US$ Pay-ins As % of total Pay-outs As % of total Total TPV In millions of US$ Cross-border As % of total Local to Local As % of total Total TPV 2Q22 1,881 77% 552 23% 2,433 2022 1,487 61% 946 39% 2,433 3Q22 2,046 75% 687 25% 2,734 3Q22 1,544 56% 1,190 44% 2,734 4Q22 2,334 71% 962 29% 3,296 4Q22 1,745 53% 1,550 47% 3,296 1Q23 2,503 70% 1,072 30% 3,574 1Q23 1,960 55% 1,615 45% 3,574 2Q23 3,190 73% 1,184 27% 4,373 2Q23 2,219 51% 2,154 49% 4,373 LTM2Q22 6,186 75% 2,018 25% 8,205 LTM2Q22 5,138 63% 3,066 37% 8,205 LTM2Q23 10,073 72% 3,904 28% 13,977 LTM2Q23 7,468 53% 6,509 47% 13,977 Note: ¹"Pay-in" means a payment transaction whereby dLocal's merchant customers receive payment from their customers. "Pay-out" means a payment transaction whereby dLocal disburses money in local currency to the business partners or customers of dLocal's merchant customers. 2"Cross-border" means a payment transaction whereby dLocal is collecting in one currency and settling into a different currency and/or in a different geography. "Local-to-local" means a payment transaction whereby dLocal is collecting and settling in the same currency. d. 22#23Revenue Revenue breakdown by geography In millions of US$ Brazil Argentina Mexico Chile Other Latam Latin America Nigeria Other Africa & Asia Africa & Asia Total Revenue Note: Unaudited quarterly results 2Q22 20.7 23.2 16.0 12.7 15.0 87.6 4.5 9.1 13.6 101.2 3Q22 21.8 19.1 16.6 13.7 16.0 87.3 13.6 10.9 24.5 111.9 4Q22 23.4 14.2 22.4 13.9 18.9 92.9 14.1 11.5 25.6 118.4 1Q23 22.8 20.0 22.7 14.2 18.5 98.2 26.9 12.1 39.0 137.3 2Q23 41.2 20.7 28.3 14.2 22.5 126.9 20.4 13.9 34.3 161.1 LTM2Q22 72.6 72.9 48.7 48.0 57.0 299.2 6.1 17.3 34.3 333.5 LTM2Q23 109.3 74.1 90.1 56.0 75.9 405.3 75.0 48.5 123.4 528.7 d. 23#24Revenue Top 10 merchant revenue¹ ($M) and concentration (%) 52 2Q22 51% 59 3Q22 53% 65 4Q22 55% 80 1Q23 58% 94 2Q23 59% Revenue composition ($M) 148% NRR² 101 2Q22 49 Existing Merchants 11 New Merchants 161 2Q23 Note: 'Top 10 merchants may vary from period to period. 2"NRR" means Net Revenue Retention rate, which is the U.S. dollar-based measure of retention and growth of our merchants. We calculate the NRR of a period by 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. Current Period Revenue includes any upsells and cross sells of products, geographies, and payment methods to such merchant customers, and is net of any contractions or attrition, but excludes revenue from new customers onboarded in the last 12 months. Unaudited quarterly results. d. 24#25Adjusted EBITDA 2Q23 Adjusted EBITDA Bridge ($M) 48 2023 Operating Profit (IFRS) 3 Depreciation and amortization 1 Stock-based Compensation Note: Adjusted EBITDA excludes one-off expenses and non-cash items. Unaudited quarterly results. 0 Impairment Gain/Losses on Financial Assets 0 Other 52 2Q23 Adjusted EBITDA d. 25#26Adjusted EBITDA Reconciliation of Profit to Adjusted EBITDA $ in thousands Profit for the period Income tax expense Depreciation and amortization Finance income and costs, net Share-based payment non-cash charges Impairment loss/ (gain) on financial assets Inflation adjustment Adjusted EBITDA Three months ended 30 of June 2023 44,791 8,774 2,869 (7,459) 1,421 (21) 1,661 52,036 2022 30,722 4,151 1,857 (253) 1,241 (7) 472 38,183 Note: Although Adjusted EBITDA and Adjusted EBITDA Margin may be commonly viewed as non-IFRS measures in other contexts, pursuant to IFRS 8, Adjusted EBITDA and Adjusted EBITDA Margin are treated by dLocal as IFRS measures based on the manner in which dLocal utilizes these measures. Adjusted EBITDA as used by dLocal is defined as the profit from operations before financing and taxation for the year or period, as applicable, before depreciation of property, plant and equipment, amortization of right-of-use assets and intangible assets, and further excluding the changes in fair value of financial assets and derivative instruments carried at fair value through profit or loss, impairment gains/(losses) on financial assets, transaction costs, share-based payment non-cash charges, secondary offering expenses, transaction expenses and inflation adjustment. Unaudited quarterly results. d. 26