LESAKA TECHNOLOGIES INC

Under

the supervision

and with

the

participation

of our

management,

our

and our

group

chief financial

officer,

we conducted

an evaluation

of our disclosure

and procedures,

as such term

is defined

under

Rule 13a-15(e)

promulgated

under

the Securities Exchange

Act of 1934,

as amended,

as of

We previously

and disclosed

in Part

II, Item

9A of our

on Form

10-K

30,

2026, material

in our internal

related to:

(1)

Our Consumer

lending,

Consumer insurance

and Group

payroll processes,

risk assessment

and

to

changes

in or

migration

of systems

and

processes,

over

and

from

service

and

design

and

of

ITGCs, controls

over service

organizations

and process

in ineffective

process

a lack of validation

and

accuracy

of information

used

processes;

(2)

Our

journal

entry

to

risk

assessment,

and

design

and

of

over

in

process

level

controls including

a lack of validation

of the journal

entry population

and inadequate

validation

and accuracy

of information

used within

the process;

(3)

The failure

of our

Utilities,

Lesaka

Hospitality,

Lesaka

Technologies

and

Lesaka

businesses

to

comply

with

our

Sarbanes

program,

risk

assessment

and

to

systems

and processes,

over

internal information

and

from service

and insufficient

design and

of ITGCs, controls

over service organizations

and process

in

process

level

controls,

a

lack

of validation

of the

completeness

and accuracy

of

used within

the process;

(4)

An

number

of experienced

and

trained

resources

to

execute

on

their

control

responsibilities

in inadequate

risk assessment,

design,

and operating

effectiveness

of process

level controls

for processes

in the scope

of our internal

financial reporting

evaluation.

As a

result

of insufficient

time in

implementing

all

to remediate

the material

in our

Annual

Report

on

Form10-K

for

our

fiscal

year

ended

June

30,

(as

above),

the

and

the

group

chief

officer concluded

that

our

and procedures

were not

as of

,

Notwithstanding

the

weaknesses,

the

in

this

Quarterly

Report

on

Form

10-Q

fairly

present,

in

all

respects,

our

results

and cash

flows as

of and for

the periods presented

with GAAP.

Remediation

Plan

continues to

work to remediate

the identified

material weaknesses

and remains

committed to

remediating

them.

Our remediation

process

is ongoing and

includes,

but is not

limited

to, the following

steps:

(1)

Commencement

of

an

Internal

Control

Upliftment

project,

by

advisors,

to

strengthen

and

standardize

control

documentation,

elevate

the

design

and

of

process-level

controls,

enhance

control owner/management

understanding

and accountability

in relation

to the importance

and operation

of

over

The

focus

is

on

areas

comprising

associated

or significant

deficiencies.

In parallel,

the Group

SOX

team

to work

with

control

owners

to

enhance

the broader

control environment,

with a focus

on, among

other

things, controls

over

service organizations

and

ITGCs.

In

the

medium

term,

we

intend

to

the

degree

of

automation

of

throughout

the

organization;

(2)

The

recruitment

of

appropriately

skilled

resources

across

the

Finance

and

Risk

and

Compliance

disciplines,

the appointment

of a Group

Head:

Risk and

Compliance

to our

to enhance

capacity

and capabilities;

(3)

Planned

rollout

of an

enhanced

training

program

across

the business,

targeted

training

for resources

responsible

for key controls;

(4)

Further

embedment

of a

culture

of internal

through

the embedding

of controls

in

the key

indicators

of senior executives

as well

as process

and control

owners

across

the business;

(5)

Mandated

enhanced

risk

assessment

with

governance

upon

implementing

new

or

migrating

systems

within

the

Group

together

with

the

design,

and

of

control

activities; and

(6)

Closer

collaboration

with

and

assurance

partners

to

ensure

the

robustness

of

our

remediation

activities.

The

remediation

plan

with

respect

to

the

weaknesses identified

for

the

year

ended

June

may

be

as is appropriate,

as we

to evaluate

and enhance

our

over

Other than

the design

and implementation

of the remediation

plan, there have

not been any

changes in our internal

during

the

fiscal

quarter

ended

30,

2026,

that

have

affected,

or

are

reasonably

likely to

affect, our

over

financial reporting.