Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 106

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 106
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ognition of past tax losses by now-profitable entities and temporary differences between tax and accounting profits across the Group
entities.

There is no dividends tax in Singapore.

See Note 23 to the accompanying consolidated financial statements
included elsewhere in this annual report for a detailed reconciliation of the tax expense.

Non-Controlling Interest

Profit attributable to non-controlling interest, which
represents the share of profit accruing to holders of equity in Karooooo’s subsidiaries that are not wholly owned by the parent
company, increased by ZAR 0.1 million, or less than 1%, for the financial year ended February 28, 2025 compared to financial year ended
February 29, 2024.

Segment Information

Operating segments are reported in a manner consistent
with the internal reporting provided to the Chief Operating Decision Maker (“ CODM”). The CODM, who is responsible for allocating
resources and assessing performance of the operating segments, has been identified as the Group Chief Executive Officer (“ CEO”),
who makes strategic decisions for the Group.

The Group organized its business units based on its products
and services into the following reportable segments:

  Cartrack is a provider of an on-the-ground operational Internet                                                  

  Karooooo Logistics provides a software application enabling                                                                                 

  Carzuka operated as a physical and e-commerce vehicle buying and selling marketplace which allowed customers to source, buy and sell vehicles efficiently and cost effectively. In Quarter 3 of F...  
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The CODM monitors the operating results of its business
units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated
based on subscription revenue, total revenue and operating profit or loss.

The segment information was provided to the CEO. See
Note 4 to the accompanying consolidated financial statements included elsewhere in this annual report for Segment related information.

The following table sets forth the geographical region by
subscriber numbers, subscription revenue and total revenue for the Cartrack business unit at the end of the periods presented.

                                       Cartrack                                                                                                         
                                       Year ended February 28/29                                                                                        
                                       Subscriber                                                                                                       
                                       2025                                                                                                             
                                       (in Units)                                                                                                       
  South Africa                                                        1,736,542      1,492,781      155,905      2,900,018      2,532,308      158,297