Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 121

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 121
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, each class will
consist of one-third of our directors.

This classification of our board
of directors may have the effect of delaying or preventing changes in control of our company. For additional information regarding our
board of directors, see Exhibit 2.2 “ Description of Ordinary Shares - Election and Reelection of Directors.”

We have not entered into service contracts with any directors
of our company or any of our subsidiaries providing for benefits upon termination of employment.

Audit Committee

The audit committee, which consists
of Siew Koon Lim, Andrew Leong and Kim White assists the board in overseeing our accounting and financial reporting processes, the audits
of our financial statements and business risk analysis. In addition, the audit committee is directly responsible for the appointment,
compensation, retention and oversight of the work of our independent registered public accounting firm. The audit committee is also responsible
for reviewing and determining whether to approve certain transactions with related parties. See Item 7. B. “ Related Party Transactions - Related
Person Transaction Policy.” The board of directors has determined that Siew Koon Lim qualifies as an “audit committee financial
expert,” as such term is defined in the rules of the SEC, and that Siew Koon Lim, Andrew Leong and Kim White are independent, as
defined under the rules of the SEC and the Nasdaq applicable to foreign private issuers. Siew Koon Lim acts as chairman of our audit committee.

Compensation and Nomination Committee

The compensation and nomination
committee consists of Andrew Leong, Siew Koon Lim and Kim White, who are all independent non-executive directors, and assists the board
in identifying and nominating candidates for election to the board of directors; reviews and recommends the compensation arrangements
for the executive members of our board of directors and administers any equity compensation plan. Andrew Leong is the appointed director
to act as chairman of our compensation and nomination committee. Although the CEO and CFO are invitees to the meetings to provide input
on management performance and to motivate and explain the remuneration of our people and present proposals for general increases and bonuses,
they are not members of this committee and therefore have no vote.

This committee is also charged
with evaluating individual director performance, the performance of the sub-committees and the board as a whole, which is done on an annual
basis.

Duties of Directors and attendance of meetings

Under Singapore law, members of
the board of directors of a Singapore company owe certain fiduciary duties towards the company