Exhibit 99.1

Net 1 UEPS Technologies, Inc. Reports Third Quarter 2017 Results

JOHANNESBURG, May 4, 2017 – Net 1 UEPS Technologies, Inc. (Nasdaq: UEPS; JSE: NT1) today released results for Q3 2017.

• Q3 2017 Revenue of $147.9 million, an increase of 10%, down 8% in constant currency;

• Q3 2017 Fundamental net income of $23.5 million, an increase of 19%, down 1% in constant currency; and

• Q3 2017 FEPS of $0.43, an increase of 0%, which includes a 19% adverse impact related to higher share count.

Summary Financial Metrics

	Three months ended March 31,
			% change		% change
	2017	2016	in USD		in ZAR
(All figures in USD ‘000s except per share data)
Revenue	147,944	134,736	10%		(8%	)
GAAP net income	18,392	18,420	(0%	)	(17%	)
Fundamental net income (1)	23,468	19,787	19%		(1%	)
GAAP earnings per share ($)	0.34	0.40	(15%	)	(29%	)
Fundamental earnings per share ($) (1)	0.43	0.43	0%		(16%	)
Fully-diluted shares outstanding (‘000’s)	54,808	46,430	19%
Average period USD/ ZAR exchange rate	13.22	15.82	(16%	)

	Nine months ended March 31,
			% change		% change
	2017	2016	in USD		in ZAR
(All figures in USD ‘000s except per share data)
Revenue	455,010	439,490	4%		1%
GAAP net income	61,665	58,098	6%		3%
Fundamental net income (1)	71,859	65,978	9%		6%
GAAP earnings per share ($)	1.15	1.24	(6%	)	(9%	)
Fundamental earnings per share ($) (1)	1.34	1.41	(5%	)	(8%	)
Fully-diluted shares outstanding (‘000’s)	53,088	47,074	13%		13%
Average period USD/ ZAR exchange rate	13.77	14.17	(3%	)

(1) Fundamental net income and earnings per share are non-GAAP measures and are described below under “Use of Non-GAAP Measures—Fundamental net income and fundamental earnings per share.” See Attachment B for a reconciliation of GAAP net income to fundamental net income and earnings per share.

Factors impacting comparability of our Q3 2017 and Q3 2016 results

•   Earnings and FEPS dilution impact from issue of additional shares of common stock: Our Q3 2017 fundamental earnings per share was impacted by the weighted average issuance of five million shares of our common stock in February 2017 and 10 million shares in Q4 2016, partially offset by buy backs of 5.5 million shares;

•   Favorable impact from the weakening of the U.S. dollar against South African Rand: The U.S. dollar depreciated by 16% against the ZAR during Q3 2017, which positively impacted our reported results;

•   Growth in lending and insurance businesses: We continued to experience volume growth and operating efficiencies in our lending and insurance businesses during Q3 2017, which has resulted in an improved contribution to our financial inclusion revenue and operating income;

•   Ongoing contributions from EasyPay Everywhere: EPE revenue and operating income growth was driven primarily by ongoing EPE adoption as we further expanded our customer base utilizing our ATM infrastructure;

•   Masterpayment expansion costs: Masterpayment incurred additional investment as it grows its staff complement to execute its expansion plan into new markets;

•   Regulatory changes in South Korea pertaining to fees on card transactions: The regulations governing the fees that may be charged on card transactions have adversely impacted our revenues and operating income in South Korea;

•   Lower prepaid sales resulting from improved security features to our Manje products: The introduction of our new biometric-linking feature adversely impacted the number of transacting users purchasing prepaid products through our mobile channel;

•   Higher transaction-related costs in fiscal 2017: We incurred $1.4 million in transaction-related costs pertaining to various acquisition and investment initiatives pursued during Q3 2017;

•   Gain on acquisition of T24 during fiscal 2016: We recognized a fair value adjustment gain of $1.9 million related to the acquisition of T24 during Q3 2016. We accounted for T24 as an equity method investment prior to obtaining control and recognized a gain arising from the consolidation and purchase accounting adjustments related to the T24 acquisition; and

•   Tax impact of dividends from South African subsidiary in fiscal 2016: Our income tax expense for Q3 2016 includes approximately $2.1 million related to the tax impact, including withholding taxes, resulting from distributions from our South African subsidiary during fiscal 2016.

“The last few months have been challenging, aggravated by the tarnishing of our reputation and questioning of our business practices due to frivolous and unsubstantiated public attacks. Although we devoted a substantial amount of time to manage these issues, we believe that we have made sufficient progress towards the finalization of our South African and international expansion strategy,” said Serge Belamant, CEO of Net1. “Consistent with our service delivery track record over the last five years, the distribution of grants in April and May has gone smoothly and without any delay or interruption and we continue to fulfill our obligations in accordance with the Constitutional Court’s order. We remain willing to support a smooth transition to SASSA or whomever they determine to be the most suitable service provider when our current contract expires. In the interim, we continue to provide seamless and timely access to grants for beneficiaries and our technology continues to save the South African government an estimated ZAR 2 billion per annum through the identification and removal of fraudulent beneficiaries,” he added.

“We intend to shortly commence with the implementation of our strategic plan to accelerate growth, diversification and geographic footprint,” added Serge Belamant. “In South Africa we will partner, invest in or acquire the right institutions to expand our addressable market and fuel innovation, which in turn will lead to the creation of new products and business models. Internationally, our UEPS/EMV banking platform will be the cornerstone from which we can service the needs of the developed and developing world, while also providing the bridge between the two,” he concluded.

“We expect to make substantial progress towards completion of a number of investment transactions during the last quarter of fiscal 2017, including Blue Label, DNI and Cell C,” said Herman Kotze, Chief Financial Officer of Net1. “These transactions will have a limited impact on our full year results and we reaffirm our fundamental earnings per share guidance for fiscal 2017 to be at least $1.69 using a constant currency base of ZAR 14.38/ $1, a share count of 54.5 million shares, and a tax rate between 33%-35%,” he concluded.

Recent Developments

Results of Operations by Segment and Liquidity

Our operating metrics will be updated and posted on our website (www.net1.com).

South African transaction processing

Segment revenue was $64.0 million in Q3 2017, up 26% in USD compared with Q3 2016, and up 6% on a constant currency basis. In ZAR, the increase in segment revenue was primarily due to higher EPE transaction revenue as a result of increased usage of our ATMs, increased inter-segment transaction processing activities and a modest increase in the number of social welfare grants distributed. Operating income decreased primarily due to the impact of annual salary increases granted to our South African employees, partially offset by higher EPE transaction revenue as a result of increased usage of our ATMs and a modest increase in the number of social welfare grants distributed.

Our operating income margin for Q3 2017 and 2016 was 24% and 26%, respectively. Our fiscal 2017 margin includes higher EPE revenue, and an increase in the number of beneficiaries paid in Q3 2017, which was partially offset by annual salary increases granted.

International transaction processing

Segment revenue was $41.5 million in Q3 2017, up 2% in USD compared with Q3 2016, and down 15% on a constant currency basis. In calendar 2016, South Korean regulators introduced specific regulations governing the fees that may be charged on card transactions, as is the case in most other developed economies. These regulations have a direct impact on card issuers in South Korea and consistent with global practices, card issuers have renegotiated their fees with South Korean VAN companies, including KSNET, which has had an adverse impact on KSNET’s financial performance.

Segment revenue increased during Q3 2017, primarily due to the inclusion of Masterpayment; however, this growth was partially offset by a lower contribution from KSNET due to the regulatory changes described above. Operating income during Q3 2017 was lower due to lower revenue at KSNET, losses incurred by Masterpayment as it grows its staff complement to execute its expansion plan into new markets, and ongoing ZAZOO start-up costs in the UK and India, which was partially offset by a positive contribution by T24. Operating income margin for Q3 2017 and 2016 was 5% and 12%, respectively.

Financial inclusion and applied technologies

Segment revenue was $56.9 million in Q3 2017, up 5% in USD compared with Q3 2016 and down 12% on a constant currency basis. In ZAR, Financial inclusion and applied technologies revenue decreased primarily due to fewer prepaid airtime and other value added services sales, as well as fewer ad-hoc terminal sales, partially offset by increased volumes in our lending and insurance businesses, and an increase in inter-segment revenues. Operating income margin for the Financial inclusion and applied technologies segment was 25% and 21% during Q3 fiscal 2017 and 2016, respectively, and has increased primarily due to improved revenues from our lending and insurance businesses and an increase in inter-segment revenues and fewer low margin prepaid product sales, offset by fewer ad hoc terminal and annual salary increases granted to our South African employees.

Corporate/eliminations

Our corporate expenses have increased primarily due to higher transaction-related expenditures, higher amortization costs and modest increases in U.S. dollar denominated goods and services purchased from third parties and directors’ fees. Our corporate expenses for the third quarter of fiscal 2016, includes a gain related to the acquisition of T24.

Cash flow and liquidity

At March 31, 2017, our cash and cash equivalents were $223.0 million, and excludes $44.7 million of restricted cash. The decrease in our cash balances from June 30, 2016, was primarily due to repurchase of shares of our common stock; unscheduled repayments of our Korean debt; payment of taxes; the investment in MobiKwik, C4U Malta and Pros Software; a loan to Finbond and capital expenditures, which was partially offset by the sale of 5 million shares of our common stock and expansion of most of our core businesses.

Excluding the impact of taxes, interest received and interest paid under our Korean debt, the increase in cash from operating activities resulted from improved trading activity during fiscal 2017, offset by the timing of receipt of amounts from customers. Capital expenditures for Q3 2017 and 2016 were $1.9 million and $8.1 million, respectively, and have decreased primarily due to the acquisition of fewer payment processing terminals in South Korea. We provided a $2.0 million loan to KZ One, the holding company of our Nigerian initiative One Credit. We sold 5 million shares of our common stock for $45.0 million and received approximately $0.6 million from the exercise of stock options. We also utilized approximately $0.3 million of our Korean borrowings to pay quarterly interest due.

Use of Non-GAAP Measures

US securities laws require that when we publish any non-GAAP measures, we disclose the reason for using the non-GAAP measure and provide reconciliation to the directly comparable GAAP measure. The presentation of fundamental net income and fundamental earnings per share and headline earnings per share are non-GAAP measures.

Fundamental net income and fundamental earnings per share

Fundamental net income and earnings per share is GAAP net income and earnings per share adjusted for (1) the amortization of acquisition-related intangible assets (net of deferred taxes), (2) stock-based compensation charges and (3) unusual non-recurring items, including the amortization of Korean debt facility fees and US government investigations-related expenses as well as, in fiscal 2017, a refund (net of taxes) related to Korean industry-wide litigation that has now been finalized and costs related to transactions and acquisition consummated or ultimately not pursued. Management believes that the fundamental net income and earnings per share metric enhances its own evaluation, as well as an investor’s understanding, of our financial performance. Attachment B presents the reconciliation between GAAP and fundamental net income and earnings per share.

Headline earnings per share (“HEPS”)

The inclusion of HEPS in this press release is a requirement of our listing on the JSE. HEPS basic and diluted is calculated using net income which has been determined based on GAAP. Accordingly, this may differ to the headline earnings per share calculation of other companies listed on the JSE as these companies may report their financial results under a different financial reporting framework, including but not limited to, International Financial Reporting Standards.

HEPS basic and diluted is calculated as GAAP net income adjusted for the (profit) loss on sale of property, plant and equipment. Attachment C presents the reconciliation between our net income used to calculate earnings per share basic and diluted and HEPS basic and diluted and the calculation of the denominator for headline diluted earnings per share.

Conference Call

We will host a conference call to review Q3 2017 results on May 5, 2017, at 8:00 Eastern Time. To participate in the call, dial 1-855-481-5362 (US and Canada), 0808-162-4061 (U.K. only) or 0-800-200-648 (South Africa only) ten minutes prior to the start of the call. Callers should request “Net1 call” upon dial-in. The call will also be webcast on the Net1 homepage, www.net1.com. Please click on the webcast link at least ten minutes prior to the call. A webcast of the call will be available for replay on the Net1 website through May 28, 2017.

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, ChinaUnionPay, Alipay and WeChat 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.

Forward-Looking Statements

This announcement contains forward-looking statements that involve known and unknown risks and uncertainties. A discussion of various factors that cause our actual results, levels of activity, performance or achievements to differ materially from those expressed in such forward-looking statements are included in our filings with the Securities and Exchange Commission. We undertake no obligation to revise any of these statements to reflect future events.

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-Marsteller South Africa
Phone: +27-82-610-0650
Email: bridget.vonholdt@bm-africa.com

NET 1 UEPS TECHNOLOGIES, INC.
Unaudited Condensed Consolidated Statements of Operations

		Three months ended				Nine months ended
		March 31,				March 31,
		2017		2016		2017		2016
		(In thousands, except per share data)				(In thousands, except per share data)
REVENUE	$	147,944	$	134,736	$	455,010	$	439,490
EXPENSE
Cost of goods sold, IT processing, servicing and support		70,912		63,266		219,210		219,316
Selling, general and administration		42,195		35,998		122,366		108,007
Depreciation and amortization		10,290		9,281		31,117		29,982
OPERATING INCOME		24,547		26,191		82,317		82,185
INTEREST INCOME		5,124		3,345		14,489		11,284
INTEREST EXPENSE		467		852		1,773		2,880
INCOME BEFORE INCOME TAX EXPENSE		29,204		28,684		95,033		90,589
INCOME TAX EXPENSE		10,233		9,816		32,320		31,306
NET INCOME BEFORE EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS		18,971		18,868		62,713		59,283
EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS		45		2		778		578
NET INCOME		19,016		18,870		63,491		59,861
LESS NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTEREST		624		450		1,826		1,763
NET INCOME ATTRIBUTABLE TO NET1	$	18,392	$	18,420	$	61,665	$	58,098
Net income per share, in U.S. dollars
Basic earnings attributable to Net1 shareholders	$	0.34	$	0.40	$	1.16	$	1.24
Diluted earnings attributable to Net1 shareholders	$	0.34	$	0.40	$	1.16	$	1.23

NET 1 UEPS TECHNOLOGIES, INC.
Unaudited Condensed Consolidated Balance Sheets

		Unaudited			(A)
		March 31,			June 30,
		2017			2016
		(In thousands, except share data)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	222,972		$	223,644
Restricted cash		44,735			-
Pre-funded social welfare grants receivable		1,615			1,580
Accounts receivable, net of allowances of – March: $3,362; June: $1,669		122,540			107,805
Finance loans receivable, net of allowances of – March: $3,536; June: $4,494		43,539			37,009
Inventory		10,560			10,004
Deferred income taxes		6,841			6,956
Total current assets before settlement assets		452,802			386,998
Settlement assets		513,713			536,725
Total current assets		966,515			923,723
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of – March: $124,527; June: $99,969		43,901			54,977
EQUITY-ACCOUNTED INVESTMENTS		38,920			25,645
GOODWILL		190,174			179,478
INTANGIBLE ASSETS, net of accumulated amortization of – March: $105,620; June: $91,208		42,904			48,556
OTHER LONG-TERM ASSETS, including reinsurance assets		39,281			31,121
TOTAL ASSETS		1,321,695			1,263,500
LIABILITIES
CURRENT LIABILITIES
Short-term credit facilities		-			-
Accounts payable		13,555			14,097
Other payables		38,319			37,479
Current portion of long-term borrowings		8,941			8,675
Income taxes payable		11,223			5,235
Total current liabilities before settlement obligations		72,038			65,486
Settlement obligations		513,713			536,725
Total current liabilities		585,751			602,211
DEFERRED INCOME TAXES		11,143			12,559
LONG-TERM BORROWINGS		16,335			43,134
OTHER LONG-TERM LIABILITIES, including insurance policy liabilities		2,725			2,376
TOTAL LIABILITIES		615,954			660,280
COMMITMENTS AND CONTINGENCIES
EQUITY
COMMON STOCK
Authorized: 200,000,000 with $0.001 par value; Issued and outstanding shares, net of treasury - March: 57,590,085; June: 55,271,954		79			74
PREFERRED STOCK
Authorized shares: 50,000,000 with $0.001 par value; Issued and outstanding shares, net of treasury: March: -; June: -		-			-
ADDITIONAL PAID-IN-CAPITAL		269,533			223,978
TREASURY SHARES, AT COST: March: 23,621,541; June: 20,483,932		(273,238	)		(241,627	)
ACCUMULATED OTHER COMPREHENSIVE LOSS		(164,510	)		(189,700	)
RETAINED EARNINGS		761,987			700,322
TOTAL NET1 EQUITY		593,851			493,047
REDEEMABLE COMMON STOCK		107,672			107,672
NON-CONTROLLING INTEREST		4,218			2,501
TOTAL EQUITY		705,741			603,220
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,321,695		$	1,263,500

(A) – Derived from audited financial statements

NET 1 UEPS TECHNOLOGIES, INC.
Unaudited Condensed Consolidated Statements of Cash Flows

		Three months ended						Nine months ended
		March 31,						March 31,
		2017			2016			2017			2016
		(In thousands)						(In thousands)
Cash flows from operating activities
Net income	$	19,016		$	18,870		$	63,491		$	59,861
Depreciation and amortization		10,290			9,281			31,117			29,982
Earnings from equity-accounted investments		(45	)		(2	)		(778	)		(578	)
Fair value adjustments		(50	)		(2,387	)		(61	)		613
Interest payable		75			343			84			1,697
Profit on disposal of property, plant and equipment		(98	)		(29	)		(571	)		(113	)
Gain on fair value of T24		-			(1,909	)		-			(1,909	)
Stock-based compensation charge (reversal), net		621			954			(68	)		2,645
Facility fee amortized		27			34			94			103
Dividends received from equity accounted investments		-			-			370			-
(Increase) Decrease in accounts receivable, pre- funded social welfare grants receivable and finance loans receivable		(16,612	)		15,914			(2,261	)		(15,211	)
Decrease (Increase) in inventory		3,893			(340	)		308			(495	)
(Decrease) Increase in accounts payable and other payables		(1,486	)		4,009			(4,386	)		1,563
Increase in taxes payable		6,678			4,479			5,819			3,444
Decrease in deferred taxes		(506	)		(19	)		(1,752	)		(256	)
Net cash provided by operating activities		21,803			49,198			91,406			81,346
Cash flows from investing activities
Capital expenditures		(1,949	)		(8,053	)		(8,498	)		(28,698	)
Proceeds from disposal of property, plant and equipment		330			136			1,344			753
Investment in MobiKwik		-			-			(15,347	)		-
Loans to equity accounted investments		(2,000	)		-			(12,044	)		-
Acquisitions, net of cash acquired		-			(1,666	)		(4,651	)		(1,666	)
Acquisition of available for sale securities		-			(8,900	)		-			(8,900	)
Other investing activities		-			(5	)		-			(5	)
Net change in settlement assets		(165,945	)		(111,118	)		54,827			171,516
Net cash (used in) provided by investing activities		(169,564	)		(129,606	)		15,631			133,000
Cash flows from financing activities
Proceeds from issue of common stock		45,629			-			45,629			3,762
Acquisition of treasury stock		-			(12,726	)		(32,081	)		(23,912	)
Repayment of long-term borrowings		-			-			(28,493	)		-
Guarantee fee paid		-			-			(1,145	)		-
Dividends paid to non-controlling interest		-			-			(613	)		-
Long-term borrowings utilized		274			676			521			2,107
Net change in settlement obligations		165,955			111,118			(54,817	)		(171,516	)
Net provided by (cash used) in financing activities		211,858			99,068			(70,999	)		(189,559	)
Effect of exchange rate changes on cash		4,719			3,192			8,025			(19,101	)
Net increase in cash, cash equivalents and restricted cash		68,816			21,852			44,063			5,686
Cash, cash equivalents and restricted cash – beginning of period		198,891			101,417			223,644			117,583
Cash, cash equivalents and restricted cash – end of period	$	267,707		$	123,269		$	267,707		$	123,269

(A) - Net change in settlement assets and net change in settlement obligations included in the unaudited condensed consolidated statement of cash flows for the three and nine months ended March 31, 2016, have been increased by $19.7 million and $59.5 million, respectively, as a result of the restatement described in Note 2—(Significant accounting policies—Settlement assets and settlement obligations) to the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2016.

Net 1 UEPS Technologies, Inc.

Attachment A

Operating segment revenue, operating income and operating margin:

Three months ended March 31, 2017 and 2016 and March 31, 2017

														Change – constant
										Change - actual				exchange rate(1)
										Q3 ‘17		Q3 ‘17		Q3 ‘17		Q3 ‘17
										vs		vs		vs		vs
Key segmental data, in $ ’000,		Q3 ‘17			Q3 ‘16			Q2 ‘17		Q3‘16		Q2 ‘17		Q3‘16		Q2 ‘17
Revenue:
South African transaction processing	$	63,967		$	50,594		$	59,862		26%		7%		6%		1%
International transaction processing		41,514			40,588			44,000		2%		(6%	)	(15%	)	(11%	)
Financial inclusion and applied technologies		56,881			54,286			59,258		5%		(4%	)	(12%	)	(9%	)
Subtotal: Operating segments		162,362			145,468			163,120		12%		(0%	)	(7%	)	(6%	)
Intersegment eliminations		(14,418	)		(10,732	)		(11,687	)	34%		23%		12%		17%
Consolidated revenue	$	147,944		$	134,736		$	151,433		10%		(2%	)	(8%	)	(7%	)
Operating income (loss):
South African transaction processing	$	15,531		$	13,133		$	15,372		18%		1%		(1%	)	(4%	)
International transaction processing		1,968			4,813			3,904		(59%	)	(50%	)	(66%	)	(52%	)
Financial inclusion and applied technologies		14,064			11,469			14,107		23%		(0%	)	3%		(5%	)
Subtotal: Operating segments		31,563			29,415			33,383		7%		(5%	)	(10%	)	(10%	)
Corporate/Eliminations		(7,016	)		(3,224	)		(7,794	)	118%		(10%	)	82%		(15%	)
Consolidated operating income	$	24,547		$	26,191		$	25,589		(6%	)	(4%	)	(22%	)	(9%	)
Operating income margin (%)
South African transaction processing		24%			26%			26%
International transaction processing		5%			12%			9%
Financial inclusion and applied technologies		25%			21%			24%
Consolidated operating margin		17%			19%			17%

(1) – This information shows what the change in these items would have been if the USD/ ZAR exchange rate that prevailed during the third quarter of fiscal 2017 also prevailed during the third quarter of fiscal 2016 and the second quarter of fiscal 2017.

Nine months ended March 31, 2017 and 2016

								Change –
								constant
						Change -		exchange
						actual		rate(1)
						F2017		F2017
						vs		vs
Key segmental data, in ’000, except margins		F2017		F2016		F2016		F2016
Revenue:
South African transaction processing	$	181,397		158,997		14%		11%
International transaction processing		131,704		122,653		7%		4%
Financial inclusion and applied technologies		179,681		187,332		(4%	)	(7%	)
Subtotal: Operating segments		492,782		468,982		5%		2%
Intersegment eliminations		(37,772	)	(29,492	)	28%		24%
Consolidated revenue	$	455,010		439,490		4%		1%
Operating income:
South African transaction processing	$	44,451		38,724		15%		12%
International transaction processing		11,689		15,596		(25%	)	(27%	)
Financial inclusion and applied technologies		43,354		41,542		4%		1%
Subtotal: Operating segments		99,494		95,862		4%		1%
Corporate/Eliminations		(17,177	)	(13,677	)	26%		22%
Consolidated operating income	$	82,317		82,185		0%		(3%	)
Operating income margin (%)
South African transaction processing		25%		24%
International transaction processing		9%		13%
Financial inclusion and applied technologies		24%		22%
Overall operating margin		18%		19%

(1) – This information shows what the change in these items would have been if the USD/ ZAR exchange rate that prevailed during the year to date of fiscal 2017 also prevailed during the year to date of fiscal 2016.

Net 1 UEPS Technologies, Inc.

Attachment B

Reconciliation of GAAP net income and earnings per share, basic, to fundamental net income and earnings per share, basic:

Three months ended March 31, 2017 and 2016

				EPS,					EPS,
	Net income			basic		Net income			basic
	(USD’000)			(USD)		(ZAR’000)			(ZAR)
	2017	2016		2017	2016	2017	2016		2017	2016
GAAP	18,392	18,420		0.34	0.40	243,190	291,377		4.45	6.29
Intangible asset amortization, net .	2,772	1,743				36,653	27,586
Transaction costs	1,439	545				19,027	8,621
Stock-based compensation charge	621	954				8,211	15,091
US government investigations- related expenses	217	-				2,869	-
Facility fees for Korean debt	27	34				357	538
Gain on fair value of T24	-	(1,909	)			-	(30,198	)
Fundamental	23,468	19,787		0.43	0.43	310,307	313,015		5.68	6.75

Nine months ended March 31, 2017 and 2016

					EPS,						EPS,
	Net income				basic		Net income				basic
	(USD’000)				(USD)		(ZAR’000)				(ZAR)
	2017		2016		2017	2016	2017		2016		2017	2016
GAAP	61,665		58,098		1.15	1.24	849,009		823,149		15.82	17.59
Intangible asset amortization, net .	7,637		6,182				105,124		87,588
Transaction costs	2,928		726				40,313		10,286
Stock-based compensation (reversal) charge	(68	)	2,645				(936	)	37,475
Refund related to litigation finalized in Korea, net	(643	)	-				(8,853	)	-
Facility fees for Korean debt	94		103				1,294		1,459
US government investigations- related expenses	246		133				3,387		1,884
Gain on fair value of T24	-		(1,909	)			-		(27,047	)
Fundamental	71,859		65,978		1.34	1.41	989,338		934,794		18.44	19.98

Net 1 UEPS Technologies, Inc.

Attachment C

Reconciliation of net income used to calculate earnings per share basic and diluted and headline earnings per share basic and diluted:

Three months ended March 31, 2017 and 2016

	2017		2016
Net income (USD’000)	18,392		18,420
Adjustments:
Gain on fair value of T24	-		(1,909	)
Profit on sale of property, plant and equipment	(98	)	(29	)
Tax effects on above	27		8
Net income used to calculate headline earnings (USD’000)	18,321		16,490
Weighted average number of shares used to calculate net income per share basic earnings and headline earnings per share basic earnings (‘000)	54,639		46,341
Weighted average number of shares used to calculate net income per share diluted earnings and headline earnings per share diluted earnings (‘000)	54,808		46,430
Headline earnings per share:
Basic, in USD	0.34		0.36
Diluted, in USD	0.33		0.36

Nine months ended March 31, 2017 and 2016

	2017		2016
Net income (USD’000)	61,665		58,098
Adjustments:
Gain on fair value of T24	-		(1,909	)
Profit on sale of property, plant and equipment	(571	)	(113	)
Tax effects on above	160		32
Net income used to calculate headline earnings (USD’000)	61,254		56,108
Weighted average number of shares used to calculate net income per share basic earnings and headline earnings per share basic earnings (‘000)	52,961		46,786
Weighted average number of shares used to calculate net income per share diluted earnings and headline earnings per share diluted earnings (‘000)	53,088		47,074
Headline earnings per share:
Basic, in USD	1.16		1.20
Diluted, in USD	1.15		1.19

Calculation of the denominator for headline diluted earnings per share

	Q3 ‘17	Q3 ‘16	F2017	F2016
Basic weighted-average common shares outstanding and unvested restricted shares expected to vest under GAAP	54,639	46,341	52,961	46,786
Effect of dilutive securities under GAAP	169	89	127	288
Denominator for headline diluted earnings per share	54,808	46,430	53,088	47,074

Weighted average number of shares used to calculate headline earnings per share diluted represent the denominator for basic weighted-average common shares outstanding and unvested restricted shares expected to vest plus the effect of dilutive securities under GAAP. We use this number of fully-diluted shares outstanding to calculate headline earnings per share diluted because we do not use the two-class method to calculate headline earnings per share diluted.