Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 97

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 97
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 (876,354       (579,656        17       51  
  Free cash flow (a non-IFRS measure)                                                            48,971         910,924        78,686        547,007      1058      (86  
  Fixed deposits with maturity dates exceeding three months                                     (26,110        (485,681       485,681              —                     
  Adjusted Free cash flow (a non-IFRS measure)                                                   22,861         425,243       564,367        547,007       (25        3  

  (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 that 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.”                                                                  
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For the financial years ended
February 28, 2025 and February 29, 2024, Karooooo’s Free Cash Flow was ZAR 910.9 million and ZAR 78.7 million, respectively. As
at February 29, 2024, included in the other receivables were fixed deposits of ZAR 485.7 million which matured in June and July 2024.
Excluding the effect of these bank fixed deposits as at financial years ended February 28, 2025 and February 29, 2024, Adjusted Free Cash
Flow (a non-IFRS measure) for the financial year ended February 28, 2025 would have been ZAR 425.2 million, a decrease of ZAR 139.1 million
or 25%.

As Cartrack accelerates customer acquisition, we made significant investment
of ZAR 818.5 million for in-vehicle IoT devices and ZAR 73.6 million for future use. Prepayments amounting to ZAR 24.8 million were made
to purchase IoT components. The investment in IoT equipment for