NET 1 UEPS TECHNOLOGIES INC - Net1 appoints Co-Chief Information Officers

Net1 appoints Co-Chief Information Officers

Net 1 UEPS Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: UEPS
JSE share code: NT1
LEI: 529900J4IZMWV4RDEB07
ISIN: US64107N2062
(“Net1”)

Net1 appoints Co-Chief Information Officers

Johannesburg, March 9, 2020 - Net1 (NasdaqGS: UEPS; JSE: NT1) today announced the
appointment of Yasvanth Singh and Keith Kourie as Chief Information Officers of the group.
Yasvanth Singh will be responsible for the development and innovation of the UEPS/EMV
payment system and related technologies with a focus on South Africa and Africa. Keith Kourie
will be responsible for the blockchain, cryptography and digital banking technologies with a
focus on European markets.

Messrs. Singh and Kourie are both 15-year veterans of Net1 and have played an integral role in
the innovation that utilizes the group’s core strengths in secure, affordable and innovative
financial technology solutions.

“We are delighted to announce the promotion of two outstanding technologists who have a deep
understanding of Net1 and its technologies as well as intricate knowledge of their respective key
markets,” said Herman Kotze, CEO of Net1. “Today’s fast changing world requires specialized
focus on global emerging technologies with local relevance and applicability. Both Yasvanth and
Keith have extensive leadership experience within the group, and will play a critical role in
driving Net1’s technology strategy,” he concluded.

Mr. Singh holds a Bachelor of Science (Information Technology) degree from the University of
KwaZulu-Natal, South Africa, and Mr. Kourie holds a B.Sc degree in Electrical Engineering
from the University of the Witwatersrand, South Africa.

About Net1 (www.net1.com)

Net1 is a leading provider of transaction processing services, financial inclusion products and
services and secure payment technology. Net1 operates market-leading payment processors
in South Africa and the Republic of Korea. Net1 offers debit, credit and prepaid processing and
issuing services for all major payment networks. In South Africa, Net1 provides innovative low-
cost financial inclusion products, including banking, lending and insurance and through DNI is a
leading distributor of mobile subscriber starter packs for Cell C, a South African mobile network
operator. Net1 leverages its strategic equity investments in Finbond and Bank Frick (both
regulated banks), and Cell C to introduce products to new customers and geographies. Net1 has a
primary listing on NASDAQ (NasdaqGS: UEPS) and a secondary listing on the Johannesburg
Stock Exchange (JSE: NT1). Visit www.net1.com for additional information about Net1.

Investor Relations Contact:
Dhruv Chopra
Group Vice President, Investor Relations
Phone: +1 917-767-6722
Email: dchopra@net1.com

Media Relations Contact:
Bridget von Holdt
Business Director – BCW
Phone: +27-82-610-0650
Email: Bridget.vonholdt@bcw-global.com

Johannesburg
March 9, 2020

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

Date: 09-03-2020 02:00:00
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