LESAKA TECHNOLOGIES INC

Unaudited Condensed Consolidated Balance Sheets

(A)

(In thousands, except share data)

ASSETS

CURRENT ASSETS

$

60,625

$

59,065

Restricted cash related to ATM funding

and credit facilities (Note 9)

6,853

Accounts receivable, net and other receivables (Note 3)

46,203

36,667

Finance loans receivable, net (Note 3)

49,529

44,058

Inventory (Note 4)

27,346

18,226

Total current assets before settlement assets

183,815

164,869

Settlement assets

27,550

22,827

Total current assets

211,365

187,696

PROPERTY,

PLANT AND EQUIPMENT, net of accumulated depreciation of - December: $

48,124

June:

$

49,762

42,295

31,936

OPERATING LEASE RIGHT-OF-USE (Note 17)

7,649

7,280

EQUITY-ACCOUNTED INVESTMENTS

GOODWILL (Note 7)

200,760

138,551

INTANGIBLE ASSETS, NET (Note 7)

125,964

111,353

DEFERRED INCOME TAXES

6,278

3,446

OTHER LONG-TERM ASSETS, including equity securities (Note 6 and 8)

46,082

77,982

TOTAL ASSETS

640,574

558,450

LIABILITIES

CURRENT LIABILITIES

Short-term credit facilities for ATM funding (Note 9)

6,737

Short-term credit facilities (Note 9)

51,152

9,351

Accounts payable

16,704

16,674

Other payables (Note 10)

59,416

56,051

Operating lease liability - current (Note 17)

3,257

2,343

Current portion of long-term borrowings (Note 9)

68,300

3,878

Income taxes payable

1,385

Total current liabilities before settlement obligations

200,214

95,688

Settlement obligations

26,882

22,358

Total current liabilities

227,096

118,046

DEFERRED INCOME TAXES

36,260

38,128

OPERATING LEASE LIABILITY - LONG TERM (Note 17)

4,819

5,087

LONG-TERM BORROWINGS (Note 9)

80,357

139,308

OTHER LONG-TERM LIABILITIES, including insurance policy liabilities (Note 8)

3,048

2,595

TOTAL LIABILITIES

351,580

303,164

REDEEMABLE COMMON STOCK

88,957

79,429

EQUITY

COMMON STOCK (Note 11)

Authorized:

200,000,000

with $

0.001

par value;

Issued and outstanding shares, net of treasury - December:

June:

64,272,243

PREFERRED STOCK

Authorized shares:

50,000,000

with $

0.001

par value;

Issued and outstanding shares, net of treasury:

December:

June:

ADDITIONAL PAID-IN-CAPITAL

421,950

343,639

TREASURY SHARES, AT

COST: December:

28,297,365

June:

25,563,808

ACCUMULATED OTHER

COMPREHENSIVE LOSS (Note 12)

RETAINED EARNINGS

273,547

310,223

TOTAL LESAKA EQUITY

193,310

175,857

NON-CONTROLLING INTEREST

6,727

TOTAL EQUITY

200,037

175,857

TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND SHAREHOLDERS’ EQUITY

$

640,574

$

558,450

(A) – Derived from audited financial statements