NET 1 UEPS TECHNOLOGIES INC - Net1 appoints Alex Smith as Chief Financial Officer

Net1 appoints Alex Smith as Chief Financial Officer

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 appoints Alex Smith as Chief Financial Officer

Johannesburg, December 1, 2017 – Net 1 UEPS Technologies, Inc. (“Net1” or the
“Company” (NasdaqGS: UEPS; JSE NT1) today announced that effective March 1,
2018, Alex Smith will be joining Net1 as its new Chief Financial Officer, Secretary
and Treasurer. Alex replaces Herman G. Kotze, who was appointed as Chief
Executive Officer in June 2017.Alex joins Net1 from Allied Electronics Corporation
Limited (“Altron”), a JSE-listed company with more than $1 billion in annual
revenues, operating in the telecommunications, multi-media, information technology
and power electronics industries, where he has been a Director and Chief Financial
Officer since 2008. In his role at Altron, Alex has been responsible for all financial
matters within the Altron group and has played a key role in the restructuring and
refocusing of the group.

Prior to joining Altron, Alex worked in various positions at PricewaterhouseCoopers
in Edinburgh, Scotland and Johannesburg from 1991 to 2005, initially as trainee
accountant and later as audit manager and Associate Director of the Transaction
Services department focused on providing specialized corporate finance services.
Alex holds a Bachelor of Law (Honours) degree from the University of Edinburgh
and is a member of the Institute of Chartered Accountants of Scotland.

“I am thrilled that Alex has decided to join the Net1 family,” said Herman G. Kotze,
CEO of Net1. “His international background, familiarity with public capital and debt
markets and financial management experience across a diverse and multi-site group
are important attributes as we embark on the most exciting time in our corporate
history. I am confident that we will benefit from Alex’s wealth of experience and
leadership.”

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.

Investor Relations Contact:

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

Media Relations Contact

Bridget von Holdt
Business Director – Burson-Marstellar South Africa
Phone: +27-82-610-0650
Email: bridget.vonholdt@bm-africa.com

Johannesburg
December 1, 2017

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

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