NET 1 UEPS TECHNOLOGIES INC - Net1 acquires 2.4 million shares following net settlement with BEE partners

Net1 acquires 2.4 million shares following net settlement with BEE partners

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
ISIN: US64107N2062
(“Net1” or “the Company”)

Net1 acquires 2.4 million shares following net settlement with BEE partners

Johannesburg – June 10, 2014 - Net 1 UEPS Technologies, Inc. (“Net1” or the “Company”)
(Nasdaq: UEPS; JSE: NT1) today announced that it has purchased approximately 2.4 million
shares of the Company’ common stock from its BEE partners under its December 2013
Relationship Agreements, as amended (“Relationship Agreements”). These agreements gave the
Company the right to require its BEE partners to early settle their loan obligations to the Net1
subsidiary which advanced the loans for the purchase of their Net1 shares, in the event that
Net1’s share price ever traded above ZAR120.00 on the JSE Limited (or the South African
Rand equivalent on the Nasdaq). Such settlement could occur either through the sale of Net1
shares or the use of other financial resources.

The Company’s share price exceeded this level on June 5, 2014 and the Company gave notice
for the early repayment of the loans. The BEE partners elected to effect this repayment through
the sale of a portion of their Net1 shares and the Company elected to purchase the shares itself
to reduce the dilution effect of the original BEE issue.

Accordingly, the Company has repurchased approximately 2.4 million shares from its BEE
Partners at the contractually determined 30 day volume weighted average price of ZAR109.98
(or $10.24 at the appropriate exchange rate) per share. The settlement amount has been applied
to repay, in full, the BEE loans and related interest obligations under the Relationship
Agreements.

Net1’s outstanding share count has accordingly reduced by 4.8% from 50,183,342 to
47,755,220 shares. Net1's BEE partners may not sell their remaining 1,971,878 shares of
Company common stock for a period of five years, except as permitted under the Relationship
Agreements.

About Net1 (www.net1.com)

Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic
Payment System, or UEPS, to facilitate biometrically secure, real-time electronic transaction
processing to unbanked and under-banked populations of developing economies around the
world in an online or offline environment. Net1’s UEPS/EMV solution is also completely
interoperable with global EMV standards that seamlessly permit access to all the UEPS
functionality in a traditional EMV environment. In addition to payments, UEPS can be used for
banking, healthcare management, payroll, remittances, voting and identification.

Net1 operates market-leading payment processors in South Africa, Republic of Korea, and
Ghana. In addition, Net1’s proprietary Mobile Virtual Card technology offers secure mobile
payments and banking services in developed and emerging countries while its MediKredit and
XeoHealth subsidiaries provide its proprietary 5010 and ICD-10 compliant real-time claims
adjudication system.
Net1 has a primary listing on the Nasdaq and a secondary listing on the JSE Limited.

Forward-Looking Statements

This announcement contains forward-looking statements that involve known and unknown risks
and uncertainties. A discussion of various factors that cause our actual results, levels of activity,
performance or achievements to differ materially from those expressed in such forward-looking
statements are included in our filings with the Securities and Exchange Commission. We
undertake no obligation to revise any of these statements to reflect future events.

Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +1-917-767-6722
Email: dchopra@net1.com

Johannesburg
June 10, 2014

Sponsor:
Deutsche Securities (SA) Proprietary Limited

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