#1Earnings Presentation d.local Q1 2023#2Sebastián Kanovich Chief Executive Officer Jacobo Singer President, COO CER Diego Cabrera Canay Chief Financial Officer Maria Oldham VP of Corp. Development, IR d. IC C#3Safe Harbor d.local 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.#4We are building the best financial infrastructure for emerging markets Cairo, Egypt. CLEEUTER d.#5Total Processed Volume Strong performance in 1Q23; reporting record financial results $3.6B +70% YOY | +8% QOQ $2.1 1Q22 $3.3 4Q22 $3.6 1Q23 Revenue $137M +57% YOY | +16% QOQ $87 1Q22 $118 4Q22 $137 1Q23 Gross Profit $62M +42% YoY | +12% QOQ $44 1Q22 $55 4Q22 $62 1Q23 Adjusted EBITDA¹ $45M +38% YoY | +13% QOQ $33 1Q22 $40 4Q22 $45 1Q23 Note: ¹ dLocal has only one operating segment. Although Adjusted EBITDA may be commonly viewed as non-IFRS measure in other contexts, pursuant IFRS 8, Adjusted EBITDA is treated by dLocal as IFRS measure based on the manner in which dLocal utilizes these measures. See detailed methodology for Adjusted EBITDA in appendix. Unaudited quarterly results. d. LO 5#6Consistently delivering Adjusted EBITDA over gross profit >70% while investing in the future 77% 1Q21 77% 2Q21 Adjusted EBITDA over gross profit (%) 77% 3Q21 75% 4Q21 75% 1Q22 77% 2Q22 77% 3Q22 73% 4Q22 74% 1Q23 d. 6#7Top 10 merchants well-diversified across industries; including 2 new entrants % share of total revenue Top 10 merchant revenue¹ ($M) and concentration (%) 80 45 1Q22 52% 65 4Q22 55% Note: Top 10 merchants may vary from period to period. 1Q23 58% Successful cross-selling strategy & Average # of countries per top 10 merchants 10 countries # of top 10 merchants with presence in Africa and Asia 10 out of 10 # of top 10 merchants operating both cross-border and local-to-local 8 out of 10 d. 7#8Localizing payments in 40 countries across emerging markets FUCKS NY d. 8#9Nigeria's great opportunity: unlocking complex markets for our global merchants TRO As of 1Q23, 6 out the top 10 merchants (in terms of revenue) operate with us in Nigeria $ Note ¹ Source: Statista Global merchants benefit from our integration with non-traditional payment methods as only ~3% of Nigerians have a credit card 1 d. Net take rate is largely in line with other markets in which we operate 9#10Tremendous growth in Africa and Asia mainly driven by Nigeria... % share of total revenue Africa & Asia revenue ($M) 10 1Q22 11% 53% QOQ 297% YOY 26 4Q22 22% 39 1Q23 28% ...while continuously growing our Latam business Latin America revenue ($M) % share of total revenue 78 1Q22 89% 93 4Q22 78% 6% QOQ 27% YOY 98 1Q23 72% d. 10#11We continue to grow our global team whilst maintaining a lean culture Most of the hires for the period were for tech-related roles and sales & marketing FTE evolution (#) AFRICA & ASIA 173 +77% YoY AMERICAS 590 +27% YoY Note: FTE includes employees and contractors. 763 +201 FTES or 36% Employee Growth YoY FTE by function (%) Technology 41% 20% 20% Corporate central functions Sales & Marketing Operations & 19% Expansion d. 11#12Financial Highlights#131.6 1Q22 % share 78% Pay-ins¹ TPV evolution ($B) 1.9 2Q22 Sustained growth rates in Pay-ins and Pay-outs 77% 2.0 3Q22 75% 2.3 4Q22 71% 7% QOQ 52% YOY 2.5 1Q23 70% % share 0.5 1Q22 22% Pay-outs¹ TPV evolution ($B) 0.6 2Q22 23% 0.7 3Q22 25% 1.0 4Q22 29% 11% QOQ 133% YOY 1.1 1Q23 30% Note: "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. d. 13#14% share 1.3 1Q22 62% Cross-border¹ TPV evolution ($B) 12% 51% YOY 1.5 2Q22 Continuous TPV expansion across services 61% 1.5 3Q22 56% 1.7 4Q22 53% % QOQ 2.0 1Q23 55% % share Local-to-Local¹ TPV evolution ($B) 0.8 1Q22 38% 0.9 2Q22 39% 1.2 3Q22 44% 4% Qo 101% YOY 1.6 4Q22 47% 1.6 1Q23 45% Note: "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. 14#15Revenue over TPV (%) 87 1Q22 4.2% Another quarter of revenue growth, reaching a record of $137M in 1023 and a strong 147% NRR Revenue evolution ($M) Revenue composition ($M) 101 2Q22 4.2% 112 3Q22 4.1% 118 4Q22 3.6% 16% QOQ 57% YOY 137 1Q23 3.8% 147% NRR¹ 87 1Q22 41 Existing Merchants 9 New Merchants 137 1Q23 d. Note: ¹"NRR" means Net Revenue Retention rate, which is the U.S. dollar-based measure of retention and growth of our merchants. We calculate the NRR of a period by dividing the Current Period Revenue by the Prior Period Revenue. The Prior Period Revenue is the revenue billed by us to all our customers in the prior period. The Current Period Revenue is the revenue billed by us in the current period to the same customers included in the Prior Period Revenue. Current Period Revenue includes any upsells and cross sells of products, geographies, and payment methods to such merchant customers, and is net of any contractions or attrition, but excludes revenue from new customers onboarded in the last 12 months. 15#16Continued maximizing gross profit dollar growth Gross Profit over TPV (%) 44 1Q22 2.1% Gross Profit ($M) evolution 50 2Q22 2.0% 54 3Q22 2.0% 55 4Q22 1.7% 12% QOQ 42% YOY 62 1Q23 1.7% 16#1750% 1Q22 Gross margin impacted by high growth in expansion market Gross margin excluding Nigeria > 50% Gross Profit margin (%) evolution 49% 2Q22 48% 3Q22 47% 4Q22 Excluding Nigeria 54% 45% 1Q23 47% 4Q22 Gross Profit margin (%) QoQ bridge +0.3% Pay-out TPV share +1p.p QoQ Product mix +0.3% Cross-border share +2p.p QoQ Service mix -3.2% Net effect of country mix Country mix +1.0% Processing cost, merchant¹mix and pricing d. 45% 1Q23 17#18Adj. EBITDA¹ ($M) and Adj. EBITDA margin (%) evolution Adj. EBITDA Margin 33 1Q22 Strong Adjusted EBITDA and net income growth 38% 38 2Q22 38% 42 3Q22 37% 40 4Q22 34% 13% QOQ 38% YOY 45 1Q23 33% 26 1Q22 Net income evolution ($M) 31 2Q22 32 3Q22 19 4Q22 83% QOQ 35% YOY 35 1Q23 Note: ¹dLocal 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. d. 18#19Increased our robust cash position while executing on our share buyback program Cash reconciliation ($M) 468 Consolidated cash (4Q22 EoP) 40 Net income before taxes -4 Income tax paid +$87M 14 +$50M 32 $14M of restricted cash released to own funds, as follows: Decrease in other assets i) $10M decrease in merchant advancements ii) $4M decrease in guarantees to merchants, banks and credit processors Change in trade receivables /payables 5 Other 555 -37 518 Consolidated cash Share repurchase Consolidated cash. before SBB (SBB) (1Q23 EoP) $ Cash conversion >100% d. Robust cash position as of March 31, 2023 ($233M of own funds and $285M of merchant funds), in addition to $43M in restricted cash 19#20d.local INVESTOR DAY 2023 JUNE 8 | 8:30 AM - 12:30 PM | NEW YORK#21Highlights d.local We power a massive and expanding emerging markets ecosystem accepting more than 900 local payment methods across 40 countries We are directly integrated with some of the world's largest online merchants, driving very strong NRR and cohort performance We have built a scalable, single API technology infrastructure that makes the complex simple for merchants across emerging markets Our business model is diversified across industries, clients and geographies We are growing rapidly and profitably at scale with strong cash generation d. 21#22Thanks d.local#23APPENDIX d.#24TPV TPV breakdown by type of product¹ In millions of US$ Pay-ins As % of total Pay-outs As % of total Total TPV TPV breakdown by type of flow² In millions of US$ Cross-border As % of total Local to Local As % of total Total TPV 1Q22 1,644 78% 460 22% 2,104 1Q22 1,302 62% 802 38% 2,104 2Q22 1,881 77% 552 23% 2,433 2Q22 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 LTM1Q22 5,236 72% 1,991 28% 7,227 4,614 64% 2,613 36% LTM1Q23 7,227 8,764 LTM1Q22 LTM1Q23 73% 3,273 27% 12,037 6,735 56% 5,302 44% 12,037 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. 24#25Revenue Revenue breakdown by geography In millions of US$ Brazil Argentina Mexico Chile Other Latam Latin America Nigeria Other Africa & Asia Africa & Asia Total Revenue 1Q22 18.1 21.1 12.9 12.1 13.4 77.6 1.6 8.2 9.8 87.5 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 LTM1Q22 68.4 61.0 40.4 44.4 51.1 265.3 1.6 8.2 26.0 291.3 LTM1Q23 88.8 76.5 77.8 54.6 68.4 366.0 59.1 43.7 102.8 468.8 d. 25#26Adjusted EBITDA 1Q23 Adjusted EBITDA Bridge ($M) 39 1Q23 Operating Profit (IFRS) 3 Depreciation and amortization 2 0 1 Stock-based Compensation Impairment Gain/Losses on Other non-recurring costs¹ Financial Assets 45 1Q23 Adjusted EBITDA Note: Adjusted EBITDA excludes one-off expenses and non-cash items. ¹Other non-recurring costs include costs related to an internal review of the allegations made by a short-seller report, including fees from independent counsel, independent global expert services and forensic accounting advisory firm. d. 26#27Adjusted 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 Secondary offering expenses¹ Impairment loss / (gain) on financial assets Inflation adjustment Other non-recurring costs² Adjusted EBITDA Three months ended 31 of March 2023 2022 35,450 26,273 4,281 1,213 2,515 1,723 (1,391) 1,293 2,329 2,034 89 (75) 306 51 1,019 1,229 45,483 32,856 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 r 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. ¹Corresponds to expenses assumed by dLocal in relation to secondary offerings of its shares which occurred in 2021. 2 It includes non-recurring costs related to an internal review of the allegations made by a short-seller report, including fees from independent counsel, independent global expert services and forensic accounting advisory firm. d. 27