Tap Issue - GBL03 - 15 October 2018 Grindrod Bank Limited (Incorporated in the Republic of South Africa with limited liability under registration number 1994/007994/06) JSE Code: GBL03 ISIN No: ZAG000148263 GBL03 Tap Issue The JSE has granted a listing to Grindrod Bank Limited, with effect from 15 October 2018. Authorised Programme size R 1,000,000,000.00 Total Notes Outstanding R 401,000,000.00 after this issuance Tap Amount R 100,000,000.00 Total Amount Following Tap Issue R 205,000,000.00 Bond Code GBL03 Nominal Issued R 100,000,000.00 Issue Price 103.042146% Coupon 10.008% (3 Month JIBAR as at 16 August 2018 of 7.008% plus 300 bps) Coupon Rate Indicator Floating Trade Type Price Final Maturity Date 16 November 2020 Books Close Date(s) 6 February, 6 May, 6 August, 6 November Interest Payment Date(s) 16 February, 16 May, 16 August, 16 November Last Day to Register 5 February, 5 May, 5 August, 5 November Issue Date 15 October 2018 Date Convention Modified Following Interest Commencement Date 16 August 2018 First Interest Date 16 February 2018 ISIN No. ZAG000148263 Additional Information Senior Unsecured Floating Rate Notes Additional Terms and N/A Conditions The note will be dematerialised in the Central Securities Depository (“CSD”) and settlement will take place electronically in terms of JSE Rules. Further information on the Note issue please contact: Allister Lamont- Nedbank CIB +27 11 294 4833 Smith Date 15th October 2018 Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Page 2 of 2 Date: 15/10/2018 12:30:00 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.