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Our corporate expenses generally include amortization of acquisition-related intangible assets; expenses related to corporate actions; Sarbanes-Oxley compliance expenses of 2002; fees for non-salaried directors; certain bonuses for employees and managers; stock-based compensation; legal fees; audit fees; insurance premiums for directors and officers; disposal entries; and, starting in fiscal 2022, the compensation of our CEO. Phone: 011 242 5000Fax: 011 728 0910Email: info@legalandtax.co.zaHeadquarters Call 0860 587 587 or email us at info@legalandtax.co.zaWhatsApp on +27 71 526 8527. SMS «Legal» at 31690 Lesaka has a primary listing on NASDAQ (NasdaqGS: LSAK) and a secondary listing on the Johannesburg Stock Exchange (JSE: LSK). Visit www.lesakatech.com for more information about Lesaka Technologies (Lesaka ™). The event will be streamed live on the Company`s investor relations website in ir.lesakatech.com. A replay of the webcast will be available on the Investor Relations website. The Company expects the following for the quarter ended September 2022: Factors affecting the comparability of our Q4 2022 and Q4 2021 results Chris Meyer, Group CEO, Naeem Kola, Chief Financial Officer, Lincoln Mali, CEO of Southern Africa, and Steve Heilbron, CEO of Connect Group, will attend the webcast of Lesaka`s management team. Reconciliation of operating income to EBITDA for the years ended February 28, 2022 and 2021 on a U.S. GAAP and IFRS for SMEs: Operating income before depreciation and amortization and adjusted EBITDA EBITDA is GAAP operating income adjusted for depreciation and amortization. Fundamental net loss per share for fiscal 2021 also includes adjustments related to changes in the fair value of equity securities, losses on disposal of equity investments accounted for, impairment losses related to an investment accounted for using the equity method and deferred tax liability related to impairment of the investment accounted for using the equity method. equivalence. JOHANNESBURG, South Africa, July 01, 2022 (GLOBE NEWSWIRE) — Lesaka Technologies, Inc.

(«Lesaka» or the «Company») (NasdaqGS: LSAK; JSE: LSK) announced today that it released Connect Group`s audited historical financial statements for both on July 28. February 2022 («Connect Financial States») and the unaudited combined pro forma financial statements, which can be found on the website SEC.gov under www.sec.gov/Archives/edgar/data/1041514/000156276222000288/0001562762-22-000288-index.htm. The full Form 8-K/A is available on our investor relations website at SEC Filings | Lesaka Technologies. Others include IPG`s activities in fiscal year 2021 and our other legacy businesses outside South Africa, primarily Botswana. Media Relations:Janine Bester GertzenEmail: Janine@thenielsennetwork.com. Performance for the quarter ended June 30, 2022 (Q4 2022) Participants who connect to the conference call will not be able to ask questions. Revenue in the segment was $105.7 million in Q4 2022, up 632% from Q4 2021 and up 470% from Q3 2022 on a constant currency basis. Revenue in the segment increased due to the inclusion of Connect for two and a half months and an increase in hardware sales and handling fees. The increase in segment EBITDA is mainly due to the inclusion of Connect, which was partially offset by higher costs related to processing fees and employee expenses. Connect accounts for a significant portion of its airtime revenues in revenue and sales costs, but generates a relatively small margin.

This puts pressure on the company`s EBITDA margins. Our EBITDA margin for Q4 2022 and 2021 was 7% and 2%, respectively. A replay of the earnings webcast will be available on Lesaka`s investor relations website following the conclusion of the live event. Quarter ended June 30, 2022 and 2021 and 31. March 2022 Ground Floor, Smart Xchange Building5 Walnut RoadDurban4001 Reconciliation of GAAP net loss and non-diluted net loss per share to fundamental net loss and fundamental loss per share: Management believes that measuring EBITDA enhances its own assessment as well as an investor`s understanding of the Company`s financial performance. Appendix 1 provides a reconciliation between GAAP operating income and EBITDA. Our corporate expenses for fiscal 2022 increased compared to fiscal 2021, mainly due to transaction-related expenses of $4.2 million (ZAR 65.9 million) related to the acquisition, adjustments to Connect`s existing clearing and settlement accounts of $1.6 million (ZAR 25.7 million) and a significantly higher stock-based compensation expense due to the expansion of our management team. Legacy salary adjustments represent the amounts we identified in the current quarter compared to prior periods. (a) As agreed in the Connection Transaction Agreements. (1) – This information shows what the evolution of these elements would have looked like if the USD/ZAR exchange rate prevailing in Q4 2022 continued to prevail in Q4 2021 and Q3 2022. U.S. securities laws require that, when we disclose non-GAAP measures, the reason for the use of those non-GAAP measures and provide reconciliations to the most directly comparable GAAP measures.

The presentation of EBITDA is a non-GAAP measure. The inclusion of H(L)EPS in this press release is a prerequisite for our registration with the JSE. H(L)EPS Basic and diluted is calculated on the basis of net income (loss) determined on a GAAP basis. As a result, this may differ from the calculation of total earnings per share of other JSE-listed companies, as these companies may present their financial results under a different accounting framework, including but not limited to International Financial Reporting Standards. 3rd Floor Acacia GroveHoughton Estate Office Park2 Osborn RoadHoughton2196 (1) Adjusted EBITDA earnings (loss), fundamental loss and fundamental loss per share are non-GAAP measures and are described below under «Use of Non-GAAP Measures – Operating Earnings Before Depreciation and Taxes, Impairment and Adjusted EBITDA and – Net Fundamental Loss and Fundamental Loss per Share». See Appendix B for a reconciliation of GAAP operating loss to EBITDA earnings (loss) and adjusted EBITDA (loss) and GAAP net loss to fundamental net loss and loss per share. Fundamental net loss and loss per share Operating income before depreciation and amortization is GAAP operating income adjusted for depreciation and amortization (loss). Adjusted EBITDA is earnings before interest, taxes, depreciation and amortization («EBITDA»), adjusted for unusual special effects and costs associated with acquisitions and transactions completed or ultimately discontinued. The following table shows the relative income (loss) of our investments accounted for using the equity method: Reconciliation of net loss to the calculation of basic and diluted loss per share and total loss per share basic and diluted: Lesaka Technologies (Lesaka™) is a South African fintech company that leverages its proprietary banking and payment technologies to provide service solutions Superior financial to merchants (B2B) and consumers (B2C) in Southern Africa offer.

Lesaka`s mission is to promote true financial inclusion for market and consumer markets by providing affordable financial services to previously underserved economic sectors. Lesaka provides cash management, growth capital, card acquisition, bill payment technologies and value-added services to formal and informal retailers, as well as banking, credit and insurance solutions to consumers in Southern Africa. The journey to Lesaka began in 1997 as «Net1» and was later renamed Lesaka (2022). Connect Group was acquired in 2022. As Lesaka, the company continues to expand its systems and capabilities to provide significant innovative fintech-based solutions for South Africa`s merchant and consumer markets. Segment revenues decreased due to lower revenues following the closure of IPG in fiscal 2021. We recorded a contribution to EBITDA in the fourth quarter of fiscal 2022 following the completion of our loss-making operations by IPG. This news release contains forward-looking statements that involve known and unknown risks and uncertainties. A discussion of various factors that could cause our actual results, levels of activity, performance or achievements to differ materially from those expressed in such forward-looking statements is included in our filings with the Securities and Exchange Commission. We undertake no obligation to revise these statements to reflect future events. Periods used in the preparation of pro forma financial statements: The pro forma accounts have been prepared using the following periods in accordance with SEC rules: 1st Floor Salga House 5 Waterkant Street Cape Town 8000 Fundamental Net Loss and Loss per Stock is GAAP net loss adjusted for amortization of acquisition-related intangible assets (less deferred taxes), stock-based compensation expenses and unusual one-time items, including costs associated with acquisitions and completed or ultimately discontinued transactions. In addition, the Company announced that it will host a webcast on July 7, 2022 at 10:00 a.m.

Eastern Time to discuss the results. Sales in the segment amounted to 4. 2022 quarter at $15.7 million, a decrease of 6% compared to Q4 2021 and a decrease of 5% compared to Q3 2022 on a constant currency basis. Revenue in the segment decreased mainly due to lower processing fees, partially offset by higher loan and insurance revenues and account holder fees.