NET 1 UEPS TECHNOLOGIES INC - Net1s commitment to social grant recipients results in uninterrupted delivery of April 2017 payments

Net1’s commitment to social grant recipients results in uninterrupted delivery of April 2017 payments

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’s commitment to social grant recipients results in uninterrupted delivery of
April 2017 payments

Johannesburg, April 4, 2017 –Net1 (NasdaqGS: UEPS; JSE: NT1) today announced
that its subsidiary, Cash Paymaster Services (Pty) Ltd (“CPS”), has again ensured
uninterrupted service delivery to South Africa’s 10.6 million social grant recipients for
the April 2017 pay-cycle.

On Friday, March 31, 2017, CPS credited the bank accounts of all 10.6 million grant
recipients with their April 2017 grants. As at the close of business on April 3, 2017, 6.8
million of these recipients had already accessed their grants via the National Payment
System or pay points, with a total aggregate value of approximately R7.8 billion
processed.

CPS processed a record 535,000 transactions per hour on April 1, 2017, without any
service interruption or degradation. Net1’s UEPS/ EMV platform continues to provide
grant recipients complete flexibility to choose the most convenient channel through
which they access their grants, either through the National Payment System, including
ATMs, participating merchants or at pay points administered by CPS.

CPS expects to complete the April 2017 pay-cycle in accordance with SASSA’s
prescribed timetable.

About Net1 (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. Through Transact24, Net1 offers debit, credit and prepaid
processing and issuing services for Visa, MasterCard and ChinaUnionPay in China and
other territories across Asia-Pacific, Europe and Africa, and the United States. Through
Masterpayment, Net1 provides payment processing and enables working capital
financing in Europe.

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.

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 regarding the Company’s
grant distribution business that involve known and unknown risks and uncertainties. A
discussion of various factors that may affect these arrangements or 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
April 4, 2017

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

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