Grindrod Shipping Holdings Ltd.
Abbreviated Name: GRINSHIP
Registered in Singapore with registration number 201731497H
JSE Share code: GSH
ISIN: SG9999019087
Primary listing on NASDAQ Global Select Market
Secondary listing on the JSE Main Board


Grindrod Shipping Holdings Ltd. Announces Resignation of Non-executive Director and Formation of a
                               new Safety and Technical Committee


On December 7, 2023, Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping”
or “Company” or “we” or “us” or “our”), a global provider of maritime transportation services predominantly in
the drybulk sector, announced the resignation of Mr. Charles Goodson Maltby as a non-executive director of the
Company with effect from December 31, 2023 and the formation of a new Safety and Technical Committee.


Mr. Maltby, who has been an independent director and member of the Compensation and Nomination Committee
(the “CNC”) since December 6, 2022, has tendered his resignation from the Company’s Board of Directors (the
“Board”) and as a CNC member thereof effective from December 31, 2023. Mr. Maltby’s resignation from the
Board is not the result of any disagreement with the Company or the Board.


In addition, a new standing committee of the Board, the Safety and Technical Committee, was formed on
December 1, 2023, and is comprised of two independent non-executive directors, Mr. Paul Charles Over, as the
committee chairman, and Mr. Alan Ian Hatton, as a committee member. The Company will seek shareholders’
retrospective approval in the upcoming annual general meeting, tentatively planned for May 30, 2024, for the
December 2023 fees payable to the members of the new Safety and Technical Committee in connection with their
service on the committee.


About Grindrod Shipping

Grindrod Shipping predominantly owns and operates a diversified fleet of owned and long-term and short-term
chartered-in drybulk vessels. The drybulk business, which operates under the brand “Island View Shipping”
(“IVS”) includes a Core Fleet of handysize and supramax/ultramax drybulk carriers. The Company is based in
Singapore, with offices in London, Durban, Tokyo and Rotterdam. Grindrod Shipping is listed on NASDAQ
under the ticker “GRIN” and on the JSE under the ticker “GSH”.




Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation
Reform Act 1995 with respect to Grindrod Shipping’s financial condition, results of operations, cash flows,
business strategies, operating efficiencies, competitive position, growth opportunities, plans and objectives of
management, and other matters. These forward-looking statements, including, among others, those relating to our
future business prospects, revenues and income, are necessarily estimates and involve a number of risks and
uncertainties that could cause actual results to differ materially from those suggested by the forward-looking
statements. Accordingly, these forward-looking statements should be considered in light of various important
factors, including those set forth below. Words such as “may,” “expects,” “intends,” “plans,” “believes,”
“anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are based on the information available to, and the
expectations and assumptions deemed reasonable by Grindrod Shipping at the time these statements were made.
Although Grindrod Shipping believes that the expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will prove to have been correct. These statements
involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently
subject to significant uncertainties and contingencies, many of which are beyond the control of Grindrod Shipping.
Actual results may differ materially from those expressed or implied by such forward-looking statements.
Important factors that could cause actual results to differ materially from estimates or projections contained in the
forward-looking statements include, without limitation, Grindrod Shipping’s future operating or financial results;
the strength of world economies, including, in particular, in China and the rest of the Asia-Pacific region; the
effects of the COVID-19 pandemic on our operations and the demand and trading patterns for the drybulk market,
and the duration of these effects; cyclicality of the drybulk market, including general drybulk shipping market
conditions and trends, including fluctuations in charter hire rates and vessel values; changes in supply and demand
in the drybulk shipping industry, including the market for Grindrod Shipping’s vessels; changes in the value of
Grindrod Shipping’s vessels; changes in Grindrod Shipping’s business strategy and expected capital spending or
operating expenses, including drydocking, surveys, upgrades and insurance costs; competition within the drybulk
industry; seasonal fluctuations within the drybulk industry; Grindrod Shipping’s ability to employ its vessels in
the spot market and its ability to enter into time charters after its current charters expire; general economic
conditions and conditions in the oil and coal industries; Grindrod Shipping’s ability to satisfy the technical, health,
safety and compliance standards of its customers; the failure of counterparties to our contracts to fully perform
their obligations with Grindrod Shipping; Grindrod Shipping’s ability to execute its growth strategy; international
political and economic conditions including additional tariffs imposed by China and the United States; potential
disruption of shipping routes due to weather, accidents, political events, natural disasters or other catastrophic
events; vessel breakdowns; corruption, piracy, military conflicts, political instability and terrorism in locations
where we may operate, including the recent conflicts between Russia and Ukraine and tensions between China
and Taiwan; fluctuations in interest rates and foreign exchange rates and the changes in the method pursuant to
which the London Interbank Offered Rate and other benchmark rates are determined; changes in the costs
associated with owning and operating Grindrod Shipping’s vessels; changes in, and Grindrod Shipping’s
compliance with, governmental, tax, environmental, health and safety regulations including the International
Maritime Organization, or IMO 2020, regulations limiting sulfur content in fuels; potential liability from pending
or future litigation; Grindrod Shipping’s ability to procure or have access to financing, its liquidity and the
adequacy of cash flows for its operation; the continued borrowing availability under Grindrod Shipping’s debt
agreements and compliance with the covenants contained therein; Grindrod Shipping’s ability to fund future
capital expenditures and investments in the construction, acquisition and refurbishment of its vessels; Grindrod
Shipping’s dependence on key personnel; Grindrod Shipping’s expectations regarding the availability of vessel
acquisitions and its ability to buy and sell vessels and to charter-in vessels as planned or at prices we deem
satisfactory; adequacy of Grindrod Shipping’s insurance coverage; effects of new technological innovation and
advances in vessel design; and the other factors set out in “Item 3. Key Information-Risk Factors” in our Annual
Report on Form 20-F for the year ended December 31, 2022 filed with the Securities and Exchange Commission
on March 23, 2023. Grindrod Shipping undertakes no obligation to update publicly or release any revisions to
these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect
the occurrence of unanticipated events except as required by law.

Company Contact:                                           Investor Relations / Media Contact:
Edward Buttery                                             Email: ir@grindrodshipping.com
Chief Executive Officer
Grindrod Shipping Holdings Ltd.
1 Temasek Avenue, #10-02 Millenia Tower
Singapore, 039192
Email: ir@grindrodshipping.com
Website: www.grinshipping.com

By Order of the Board
8 December 2023
Sponsor: Grindrod Bank Limited