Sec Form 4 Filing - Oh Phil-Hyun @ NET 1 UEPS TECHNOLOGIES INC - 2020-03-09

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Oh Phil-Hyun 2. Issuer Name and Ticker or Trading Symbol NET 1 UEPS TECHNOLOGIES INC [ UEPS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) President of KSNET (Last) (First) (Middle) PRESIDENT PLACE, 4TH FLOOR, CNR JAN SMUTS AVENUE AND BOLTON ROAD 3. Date of Earliest Transaction (MM/DD/YY) 03/09/2020 (Street) ROSEBANK, JOHANNESBURG, T3T3 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common stock 03/09/2020 D 7,500 ( 1 ) D $ 0 7,500 ( 1 ) D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Oh Phil-Hyun PRESIDENT PLACE, 4TH FLOOR CNR JAN SMUTS AVENUE AND BOLTON ROAD ROSEBANK, JOHANNESBURG, T3T3 Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other President of KSNET Signatures /s/ Alex M.R. Smith, * Signature of Reporting Person Attorney-in-Fact for Phil-Hyun Oh 03/10/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Net 1 UEPS Technologies Inc. (the "Company"), through its wholly owned Dutch subsidiary, Net1 Applied Technologies Netherlands B.V. sold its entire equity shareholding in Net1 Applied Technologies Korea Limited in March 2020. The Reporting Person is filing this exit Form 4 to reflect that (a) he is no longer a Section 16 reporting person as a result of the disposition and (b) half of the 15,000 shares of restricted stock, or 7,500 shares, that were held by the Reporting Person and subject to time-based vesting were forfeited at the time of the disposition. The Company agreed to accelerate the vesting of the other 7,500 restricted shares held by the Reporting Person, which otherwise would only have vested if the recipient was employed by the Company on August 23, 2020.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.