LESAKA TECHNOLOGIES INC - Lesaka Announces the Repurchase of Common Shares

Lesaka Announces the Repurchase of Common Shares

Lesaka Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: LSAK
JSE share code: LSK
LEI: 529900J4IZMWV4RDEB07
ISIN: US64107N2062
(“Lesaka,” or the “Company”)

Lesaka Announces the Repurchase of Common Shares

Johannesburg, May 19, 2023 – Lesaka (NasdaqGS: LSAK; JSE: LSK) today announced that it has
repurchased approximately 250,000 of the Company’s common shares in May 2023, at a price of $3.26
per share (ZAR 62.08 per share using the relevant USD: ZAR exchange rate).

Lesaka Group CEO Chris Meyer said: “We reported another quarter of growth and transformation
last week, driven by the acquisition of the Connect Group in our Merchant Division and the successful
turnaround in our Consumer Division, despite the persistently challenging economic environment.

Our focus is to increase shareholder value by strategically allocating capital to grow our business while
maintaining an appropriate capital structure. We are continuously evaluating investing for growth
against share buyback opportunities to enhance long-term shareholder value.

We believe this repurchase reflects the confidence of Lesaka’s Board and management team regarding
our outlook. Lesaka is well positioned to benefit from the exponential secular demand for innovative
fintech solutions that are transforming South Africa’s highly cash-driven informal economy.

The continued digitalization of South Africa’s informal economy serves as a durable catalyst for our
business but ultimately our success is built on the success of our customers.”

About Lesaka (www.lesakatech.com)

Lesaka Technologies, (Lesaka™) is a South African Fintech company that utilizes its proprietary
banking and payment technologies to deliver superior financial services solutions to merchants (B2B)
and consumers (B2C) in Southern Africa. Lesaka’s mission is to drive true financial inclusion for both
merchant and consumer markets through offering affordable financial services to previously underserved
sectors of the economy. Lesaka offers cash management solutions, growth capital, card acquiring, bill
payment technologies and value-added services to formal and informal retail merchants as well as
banking, lending, and insurance solutions to consumers across Southern Africa. The Lesaka journey
originally began as “Net1” in 1997 and later rebranded to Lesaka (2022), with the acquisition of Connect.
As Lesaka, the business continues to grow its systems and capabilities to deliver meaningful fintech-
enabled, innovative solutions for South Africa’s merchant and consumer markets.

Lesaka has a primary listing on NASDAQ (NasdaqGS: LSAK) and a secondary listing on the
Johannesburg Stock Exchange (JSE: LSK). Visit www.lesakatech.com for additional information about
Lesaka Technologies (Lesaka ™).

Investor Relations and Media Relations Contact:
Phillipe Welthagen
Email: phillipe.welthagen@lesakatech.com
Mobile: +27 84 512 5393

FNK IR:
Rob Fink / Matt Chesler, CFA
Email: lsak@fnkir.com

Johannesburg
May 19, 2023

Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited

Date: 19-05-2023 07:05:00
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