Trading Statement Grindrod Limited (Incorporated in the Republic of South Africa) (Registration number 1966/009846/06) Share code: GND & GNDP ISIN: ZAE000072328 & ZAE 000071106 (“Grindrod” or “the Company”) TRADING STATEMENT Shareholders are referred to the trading statement issued on 21 February 2017 where shareholders were advised that the loss for the year ended 31 December 2016 was expected to be between R 1 695 million and R 1 720 million and headline loss for the year ended 31 December 2016 was expected to be between R 455 million and R 465 million. Following further information on the likely timing of proceeds on the sale and the value of the rail businesses held for sale, a further impairment of R 200 million has been recognised. Shareholders are advised that the loss for the year ended 31 December 2016 will be R 1 908 million. As a consequence of the above, the loss per share for the year ended 31 December 2016 will be 254 cents per share. The above impairment does not impact headline earnings and headline earnings per share. The information contained in this trading statement has not been reviewed nor reported on by the company’s external auditors. Grindrod will release its final results to shareholders on Thursday, 2 March 2017 and will be holding an investor presentation in Johannesburg on that day. By order of the board 01 March 2017 Sponsor: Grindrod Bank Limited Date: 01/03/2017 04:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.