Proposed International Listing 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”) PROPOSED INTERNATIONAL LISTING We refer to the announcement released on 23 August 2017 in which Grindrod indicated that it will start investigating the separate listing of the Shipping business on a recognised international stock exchange (“the Proposed International Listing”), including the local and international required regulatory requirements to achieve such a listing. The Board intended at the time to make a final determination regarding the Proposed International Listing before the end of the year. Due to the cross jurisdictional nature of the Proposed International Listing, the various processes required with the different regulators in the relevant jurisdictions are taking longer than initially expected. Work is continuing and based on current timing estimates the Grindrod Board aims to make its final determination on the Proposed International Listing in the early part of 2018. Assuming the required regulatory approvals are successfully obtained, Grindrod will seek the listing of the Shipping business before the end of the first half of 2018. By order of the board 16 January 2018 Sponsor: Grindrod Bank Limited Date: 16/01/2018 11:20:00 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.