NET 1 UEPS TECHNOLOGIES INC - Notification of directors dealings in Net1 securities

            
NT1
Notification of directors? dealings in Net1 securities

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 directors? dealings in Net1 securities

Shareholders are advised that the following dealings in the securities of Net1 have taken
place by a director ("reporting person") of the Company:

Director:                                       Antony Charles Ball
Name of company:                                Net1
Class of security:                              Common stock
Nature of interest(1):                          Indirect, non-beneficial
Nature of transaction(2):                       On market purchase of securities
Number of securities:                           20,894
Date of transaction:                            September 22, 2020
Price per security (VWAP):                      USD 3.13
Total transaction value:                        USD 65,381.50

Director:                                       Antony Charles Ball
Name of company:                                Net1
Class of security:                              Common stock
Nature of interest(1):                          Indirect, non-beneficial
Nature of transaction(3):                       On market purchase of securities
Number of securities:                           28,550
Date of transaction:                            September 23, 2020
Price per security (VWAP):                      USD 3.13
Total transaction value:                        USD 89,447.15

(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.

(2) The purchase by VCP of the Shares of Net1 reported herein was matchable under Section
16(b) of the Securities Exchange Act of 1934, to the extent of 20,894 Shares, with VCP's sale
of 20,894 Shares at a price of $3.50 per Share on April 23, 2020. VCP has agreed to pay to
Net1, upon settlement of the sale, $7,747.50, representing the full amount of the profit
realized in connection with the short-swing transaction, less transaction costs.

(3) The purchase by VCP of the Shares reported herein was matchable under Section 16(b) of
the Securities Exchange Act of 1934, to the extent of 28,550 Shares, with VCP's sale of
28,550 Shares at a price of $3.50 per Share on April 23, 2020. VCP has agreed to pay to
Net1, upon settlement of the sale, $10,477.85, representing the full amount of the profit
realized in connection with the short-swing transaction, less transaction costs.

Clearance to deal in respect of the above transactions was given.

September 25, 2020
Johannesburg

Sponsor
Rand Merchant Bank, a division of FirstRand Bank Limited

Date: 25-09-2020 05:18:00
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