Lesaka Technologies : Unlock the Stock session Presentation

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12 October 2023

Investor presentation | 2

Disclaimer

Guidance noted in this presentation is as of September 12, 2023. Nothing herein should be construed as reaffirming, disaffirming or updating such guidance.

Forecasted figures are based on information available at the time that this forecast was created and/or management's good faith belief as of that time with respect to future events. They are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forecasted financial information. A discussion of various factors that may 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, particularly in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2023, as such Risk Factors may be updated from time to time in subsequent reports. Factors that might cause such differences include, but are not limited to the risk that the Company's business and the Connect Group's business will not be integrated successfully, the possibility that the expected synergies from the acquisition will not be realized, or will not be realized within the expected time period disruption from the acquisition making it more difficult to maintain business and operational relationships and other factors, many of which are beyond the Company's control. We disclaim any obligation to update any of these forward looking statements after the date of this presentation to conform these figures to actual results or revised expectations You should, therefore, not rely on these forward looking figures as representing our views as of any date subsequent to the date of this presentation.

This presentation includes certain non GAAP financial measures, including Group Adjusted EBITDA and fundamental net loss that the Company's management uses to evaluate its operations, measure its performance and make strategic decisions. The Company believes Group Adjusted EBITDA and fundamental net loss provide useful information to investors and others in understanding and evaluating the Company's operating results in the same manner as management. However, Group Adjusted EBITDA and fundamental net loss are each not a financial measure calculated in accordance with GAAP and should not be considered as a substitute for revenue, gross profit or any other operating performance measures calculated in accordance with GAAP. Using any such financial measure to analyze the Company's business would have material limitations because the calculations are based on the subjective determination of management regarding the nature and classification of events and circumstances that investors may find significant. In addition, although other companies in the Company's industry may report measures Group Adjusted EBITDA, fundamental net loss or similar measures, such financial measures may be calculated differently from how the Company calculates financial measures, and therefore, the Company's non GAAP measures may not be directly comparable to similarly titled measures of other companies. Because of these limitations, you should consider these measures other financial performance measures and other financial results presented in accordance with applicable accounting standards To the extent that forward looking non GAAP financial measures are provided, they are presented on a non GAAP basis without reconciliations of such forward looking non GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations.

This presentation shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Investor presentation | 3

Lesaka at a glance

LESAKA TECHNOLOGIES INC.

Exchange / ticker	NASDAQ : LSAK; JSE : LSK
Market cap¹	R4.7bn
Average trading volume (3-month)	~30 000 shares
Revenue (12 months ended 30 June 2023)	R9.5bn

1. Bloomberg: October 5, 2023

Company

CompanyOverview

Overview

April 2023

Southern Africa's leading dual-sided FinTech ecosystem

Business highlights

Investor presentation | 5

OVERVIEW

COMPANY

Dual-sided merchant and consumer ecosystem powered by proprietary technology and high-touch distribution of solutions for financial inclusion

Addressing a large, and mostly untapped, market opportunity, with high growth potential driven by secular trends in Southern Africa

Differentiated merchant solutions with a proven business model, characterized by profitable growth

Repositioned and profitable consumer platform, offering lending, insurance and banking products to approximately 1.3 million customers

Experienced management team and board of directors with demonstrated track record of building highly successful FinTech businesses

R9.4bn ($526m) Group Revenue and R498m ($28m) Group Adjusted EBITDA reported for FY23, driven by strong business fundamentals

Sufficiently capitalized, delivering positive cash from business operations at Group level

FINANCIALTHE LESAKA OUR MARKET APPENDIX PERFORMANCE PLATFORM OPPORTUNITY

Refer to Appendix for a full reconciliation of Net income to EBITDA.