GRINDROD BANK LIMITED (Registration no 1994/007994/06) Incorporated in the Republic of South Africa JSE alpha code: GNDI (“Grindrod Bank”) NOTIFICATION OF AFFIRMATION OF CREDIT RATINGS Bondholders are advised that Global Credit Ratings (“GCR”) has affirmed the South Africa long-term and short-term issuer ratings assigned to Grindrod Bank at A-(ZA) and A2(ZA), respectively. In addition, the international scale long-term and short-term ratings have also been affirmed at B+ and B respectively. GCR concurrently removed the ratings of Grindrod Bank from Rating Watch Evolving and placed the ratings on Stable outlooks. The full rating announcement issued by GCR is available at: https://gcrratings.com/. 13 July 2023 Debt Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited