NET 1 UEPS TECHNOLOGIES INC - Net1 Announces Dismissal of Class Action Lawsuit by U.S. District Court

Net1 Announces Dismissal of Class Action Lawsuit by U.S. District Court

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”)

Net1 Announces Dismissal of Class Action Lawsuit by U.S. District Court

Johannesburg, September 18, 2015 – Net1 (NasdaqGS: UEPS; JSE: NT1) today announced
that the United States District Court for the Southern District of New York has dismissed the
purported securities class action litigation originally filed on December 24, 2013, against
Net1, its Chief Executive Officer and its Chief Financial Officer.

“We are pleased with the Court’s decision and believe that its opinion confirms our assertion
that this case was without any merit,” said Dr. Serge C.P. Belamant, Net1’s Chairman and
Chief Executive Officer.

The Court’s order allows the plaintiff to file a further amended complaint on or before
October 16, 2015, failing which the action may be dismissed with prejudice.

About Net 1 UEPS Technologies, Inc. (www.net1.com)

Net1 is a leading provider of alternative payment systems that leverage its Universal
Electronic Payment System (“UEPS”) or utilize its proprietary mobile technologies.
The Company operates market-leading payment processors in South Africa and the Republic
of Korea.

UEPS permits the Company 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 interoperable with
global EMV standards that seamlessly enable 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’s mobile technologies include its proprietary mobile payments solution - MVC, which
offers secure mobile-based payments, as well as mobile banking and prepaid value-added
services in developed and emerging countries. The Company intends to deploy its varied
mobile solutions through its ZAZOO business unit, which is an aggregation of innovative
technology companies and is based in the United Kingdom.

Net1 has a primary listing on the NASDAQ and a secondary listing on the Johannesburg
Stock Exchange.
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.

Net1 Investor Relations Contact
Dhruv Chopra
Head of Investor Relations
Phone: +1-917-767-6722
Email: dchopra@net1.com

Johannesburg
September 18, 2015

Sponsor:
Deutsche Securities (SA) Proprietary Limited

Date: 18/09/2015 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.