EBITDA * 16% R2 513 million (2022: R2 174 million) GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023 Headline earnings * 29% R1 359 million CORE BUSINESS DECLARATION OF DIVIDEND (2022: R1 057 million) Grindrod achieved headline earnings growth of 29% in its core operations compared to the full year-ended 31 December 2022 (“the prior period”). Ordinary dividend Notice is hereby given that a final gross dividend of 38.0 cents per share has been declared out of Port and Terminals headline earnings grew 35% on the prior period. The port of Maputo achieved income reserves for the year ended 31 December 2023 (2022: 22.2 cents per share). The final net Net asset value record volumes of 12.6 million tonnes, up 28% from the prior period. Grindrod’s drybulk terminals dividend is 30.4 cents per share for ordinary shareholders who are not exempt from dividends tax. per share 13% in Mozambique handled 12.9 million tonnes, up 14% on the prior period. The conveyor belt linking Grindrod’s Navitrade drybulk facility in Richards Bay is now commissioned. At the date of this announcement, there were 698 031 586 issued ordinary shares. Grindrod’s Logistics segment delivered strong results despite subdued charter markets in the Preference dividend 1 368 cents seafreight business. Headline earnings from ships agency and clearing and forwarding businesses Notice is hereby given that a final gross preference dividend of 521.0 cents (2022: 421.0 cents) per share grew 49% on the prior period. Grindrod’s locomotive deployment rate closed strong at 70% with per cumulative, non-redeemable, non-participating and non-convertible preference share (2022: 1 211 cents per share) positive prospects in 2024. has been declared out of income reserves for the year ended 31 December 2023. The final net preference dividend is 416.8 cents per share for preference shareholders who are not exempt from dividends tax. Total interim Reviewed Audited At the date of this announcement, there were 7 400 000 preference shares in issue. and final ordinary 31 December 31 December dividends Core operations inclusive of joint ventures * 2 02 3 Rm 2022 Rm Change % Salient dates The salient dates for the ordinary dividend and preference dividend (“dividends”) are as follows: 84% 7 490 7 405 1 Dividend declaration date Thursday, 07 March 2024 72.4 cents per share Revenue ** (2022: 39.4 cents per share) Earnings before interest, taxation, Last date to trade cum-dividend Tuesday, 02 April 2024 2 513 2 174 16 depreciation and amortisation (EBITDA) Securities start trading ex-dividend Wednesday, 03 April 2024 Profit attributable to ordinary shareholders 1 334 1 090 22 Record date Friday, 05 April 2024 Maputo port Headline earnings 1 359 1 057 29 Payment date Monday, 08 April 2024 concession extension to 2058 * Core operations includes Port and Terminals, Logistics and Group. No dematerialisation or rematerialisation of ordinary shares and preference shares will be allowed ** Revenue was impacted by reduced value added services mineral export sales and charters. Revenue during the period Wednesday, 03 April 2024 to Friday, 05 April 2024, both days inclusive. includes R999.4 million (2022: R1 787.3 million) relating to the above-mentioned revenue streams. The local dividend tax rate is 20% and Grindrod’s tax reference number is 9435/490/71/0. Both the ordinary dividend and preference dividend are declared in the currency of the Republic of * Core business NON-CORE BUSINESS inclusive of joint ventures. South Africa. The period’s results include fair value losses of R255.7 million on the private equity portfolio, including full impairment of the asset financing investment. In addition, net provisions and fair value losses of R77.9 million relating to the KwaZulu-Natal North Coast property loans were recorded. GROUP RESULTS Registered office The Group reported earnings of R987.8 million against R601.1 million in the prior period. Headline Directors’ statement and business address earnings increased by 18% to R1 012.4 million compared to R859.7 million in the prior period. Results This short-form announcement is the responsibility of the directors and is only a summary of the Grindrod Mews, 106 Margaret presented below include continuing and discontinued operations. information of the full announcement and does not contain full or complete details. The full Mncadi Avenue, Durban, 4001 announcement is available on the Company’s website at www.grindrod.com and on the JSE’s website on 07 March 2024 at https://senspdf.jse.co.za/documents/2024/jse/isse/GNDE/ye2023.pdf. Copies Sponsor of the full announcement may also be requested by email at investorrelations@grindrod.com. Any Nedbank Corporate and Reviewed Audited investment decision by investors and / or shareholders should be made having considered the full Investment Banking, a division 31 December 31 December announcement as a whole. of Nedbank Limited 2 02 3 2022 Change Total Group on a legal basis Rm Rm % By order of the Board Registration number: 1966/009846/06, Incorporated Revenue ^ 4 846 6 332 (23) VB Commaille in the Republic of South Africa EBITDA 923 1 224 (25) Group Company Secretary Share code: GND and 07 March 2024 GNDP ISIN: ZAE000072328 Basic earnings 988 601 64 and ZAE000071106 Headline earnings 1 012 860 18 (“Grindrod”, or “the Company” Basic earnings per share (cents) 148.0 90.1 64 Review conclusion or “the Group”) Headline earnings per share (cents) 151.7 128.9 18 The condensed consolidated financial statements for the year ended 31 December 2023 have been reviewed by Grindrod’s auditors, Deloitte & Touche, who issued an unmodified review conclusion ^ Revenue was impacted by reduced value added services mineral export sales and charters, the disposal report thereon. The auditor’s review conclusion and the condensed consolidated financial statements of Grindrod Logistics and no discontinued operations revenue in the current year. Revenue includes are available on the Company’s website at www.grindrod.com. This short-form announcement R999.4 million (2022: R3 472.8 million) relating to the above-mentioned revenue streams. has not been reviewed by Grindrod’s auditors.