dLocal announced the appointment of Dr. Vernica Raffo as an independent board member, effective March 18, 2024. Dr. Raffo will join the esteemed ranks of our Audit Committee, bringing with them a wealth of experience and expertise in corporate governance. Dr. Raffo brings a distinguished track record of accomplishments as a partner in Ferrere, one of the top legal firms in Uruguay and the region.

At Ferrere, she participates actively in its management and strategic leadership. She has more than 25 years of experience advising a stellar list of global clients, managing highly complex and sensitive cases with a focus on corporate issues, dispute negotiation, compliance audits and corporate governance. Dr. Raffo is also an authority in entrepreneurship and gender issues, both in Uruguay and internationally.

She is the incoming gold Regional Chair Latin America of YPO (Young Presidents Organization) and she was one of the founders and the President of the Uruguayan Women Entrepreneurs Organization, OMEU. Each year since 2019 she has been recognized as Uruguays most highly reputed woman business leader, according to the Corporate Reputation Business Monitor (MERCO). She is an instructor in Board Management at the Graduate School of Business - EPN of Universidad ORT Uruguay.

She is a licensed lawyer (Universidad de la Repblica, Uruguay) and holds a diploma in American and International Law from The Center for American and International Law (United States). Dr. Raffos appointment underscores dLocals commitment to maintaining the highest standards of transparency, accountability, and regulatory compliance. As a member of Audit Committee, Dr. Raffo will play a pivotal role in overseeing financial reporting processes, internal controls, and risk management practices.

Her vast knowledge and strategic insights will further strengthen governance framework, ensuring that dLocal continues to operate with integrity and efficiency. At dLocal, The company like to extend sincere gratitude to Jitendra Gupta, for his contributions, dedication, and wisdom during his tenure as an independent member. His insights have been instrumental in shaping our strategic direction and wish him all the best in his future endeavors.