Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 171

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 16D
Chunk 171
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Item 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT
COMMITTEES

Not applicable.

Item 16E. PURCHASE OF EQUITY SECURITIES BY THE ISSUER
AND AFFILIATED PURCHASERS

At the Annual General Meeting
(AGM) held on August 29, 2024 the shareholders of Karooooo passed a resolution by a 97.08% majority vote authorizing the repurchase of
up to 10% of the Company’s shares. The Board is duly authorized to implement this share buyback program in accordance with the requirements
outlined in the resolution.

Purchases of ordinary shares
by the Company may be made by way of market purchases on the Nasdaq and/or the JSE. At our next AGM, we expect to seek approval of the
renewal of our share repurchase program on the same terms as currently in effect.

Following the authorization by
shareholders granted at the prior AGM, held on July 12, 2023, Karooooo purchased 57,806 of its common stock, as set out below:

  Period                                     Total                                      Weighted average                        Total number of shares purchased as part of publicly announced                             
                                             number of                                  price per ordinary                      plans or programs                                                                          
                                             ordinary shares purchased                  share                                                                                                                              
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  February 9, 2024 to February 29, 2024                                     51,106                              ZAR 466.01                                                                          51,106      3,044,004  
  May 16, 2024                                                               6,700                              ZAR 515.20                                                                           6,700      3,037,304  

Karooooo subsequently cancelled 51,106 shares,
effective May 24, 2024, and 6,700 shares, effective July 2, 2024.

The authority conferred by the
share repurchase mandate will continue by law until the earliest of either the date of the next AGM, the date by which the next AGM of
the Company is required by law to be held or the date on which the share purchases are carried out to the full extent mandated or revoked
by shareholders at a general meeting.

Item 16F. CHANGE IN REGISTRANT’ S CERTIFYING ACCOUNTANT