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 Date: 04/06/2019 03:00:00 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.