Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 110

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 110
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 on the severity and direct impact of
these factors on us, we may be unable to secure additional financing to meet our operating requirements on terms favorable to us, or at
all.

                                                    Year ended February 28/29                                                                                 
                                                    2025                                                                                                      
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                    (U. S.$                                                                                                   
  Net cash generated from operating activities                                      103,934        1,933,295       955,040      1,126,663       102      (15  
  Net cash utilized by investing activities                                        (57,917)      (1,077,335)      (932,187       (622,210        16       50  
  Net cash utilized by financing activities                                        (23,830)        (443,260)      (592,954       (420,026      (25)       41  

  (1)      For convenience purposes only, amounts in South African rand as at February 28,                                                                

  (2)      We have elected to omit discussion of the earliest of the three years covered                                                           
           by our consolidated financial statements presented in this annual report because the disclosure as at and for the financial year ended  
           February 28, 2023 was included in our annual report on Form 20-F (File No. 001-40300), filed with the SEC on June 13, 2024, under the   
           section titled “ Item 5. Operating and Financial Review and Prospects.”                                                                 
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Operating Activities

Strong net cash generated from
operating activities is an important factor in supporting our robust business model, and is an indication of our ability to provide the
capital necessary to invest in subscriber growth and territorial expansion.

Net cash generated from operating
activities increased ZAR 978.3 million, or 102%, for the financial year ended February 28, 2025 compared to financial year ended February
29, 2024. Cash generated from operations before working capital changes increased by ZAR 287.7 million.

As at February 29, 2024, included
in other receivables were fixed deposits placed with a licensed bank amounting to ZAR 485.7 million that matured in June and July 2024.
As a result of these fixed