Notification of dealings in Net1 securities by an associate of a director 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” or the “Company”) Notification of dealings in Net1 securities by an associate of a director Shareholders are advised that the following dealings in the securities of Net1 have taken place by an associate of a director (“reporting person”) of the Company: Director: Antony Charles Ball Associate (1): Value Capital Partners (Pty) Ltd Name of company: Net1 Class of securities: Common stock Nature of interest: Indirect, non-beneficial Nature of transaction: On market purchase of securities Number of securities: 7,000 Date of transaction: November 20, 2020 Price per security USD 3.40 Total transaction value: USD 23,800.00 (1) Value Capital Partners (Pty) Ltd (“VCP”), of which the reporting person is a minority shareholder and its chairman, has been appointed as investment manager to a South African collective investment scheme trust and certain segregated accounts (the “VCP Managed Funds”), providing VCP with voting and dispositive power over the common stock (the “Shares”) of Net1 directly held by any of the VCP Managed Funds and therefore VCP and accordingly the reporting person may be deemed to be the beneficial owner of such Shares. The reporting person disclaims beneficial ownership of these Shares except to the extent of his pecuniary interest therein. Net1 has a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange. November 25, 2020 Johannesburg Sponsor Rand Merchant Bank, a division of FirstRand Bank Limited Date: 25-11-2020 07:11:00 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.