NET 1 UEPS TECHNOLOGIES INC - Net1 reconstitutes its board committees

Net1 reconstitutes its board committees

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 reconstitutes its board committees

JOHANNESBURG, June 4, 2019 - Net1 (Nasdaq: UEPS; JSE: NT1) today announced that its board of
directors has reviewed the constitution of its board committees and chairmanships and made changes effective
July 1, 2019. Net1's board committees comprise only non-employee directors.

The table below presents the reconstituted board committees effective July 1, 2019:

                                                                        Nominating
                                                                        and
                                                                        Corporate
                                   Audit             Remuneration       Governance
Director                           Committee         Committee          Committee
Paul Edwards                          X                 X                  X
Alfred T. Mockett                     X                 X                  X*
Alasdair J.K. Pein                    X                 X*                 X
Christopher S. Seabrooke              X                 X                  X
Ekta Singh-Bushell                    X*                X                  X
* Chairperson

In addition, Paul Edwards has been appointed to the newly created position of Deputy Chairman of the board.
Christopher Seabrooke continues as Chairman of the board and lead independent director.

About Net1 (www.net1.com)

Net1 is a leading provider of transaction processing services, financial inclusion products and services and
secure payment technology. Net1 operates market-leading payment processors in South Africa and the
Republic of Korea. Net1 offers debit, credit and prepaid processing and issuing services for all major payment
networks. In South Africa, Net1 provides innovative low-cost financial inclusion products, including banking,
lending and insurance and through DNI is a leading distributor of mobile subscriber starter packs for Cell C,
a South African mobile network operator. Net1 leverages its strategic equity investments in Finbond and Bank
Frick (both regulated banks), and Cell C to introduce products to new customers and geographies. Net1 has a
primary listing on NASDAQ (NasdaqGS: UEPS) and a secondary listing on the Johannesburg Stock Exchange
(JSE: NT1). Visit www.net1.com for additional information about Net1.

Investor Relations Contact:
Dhruv Chopra
Group Vice President, Investor Relations
Phone: +1 917-767-6722
Email: dchopra@net1.com

Media Relations Contact:
Bridget von Holdt
Business Director - BCW
Phone: +27-82-610-0650
Email: bridget.vonholdt@bm-africa.com

Johannesburg
June 4, 2019

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

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