GRINDROD LIMITED - Trading Statement

Trading Statement

GRINDROD LIMITED 
(Incorporated in the Republic of South Africa)
(Registration number 1966/009846/06)
Share code: GND & GNDP
ISIN: ZAE000072328 & ZAE000071106
("Grindrod")

TRADING STATEMENT

In terms of paragraph 3.4(b)(i) of the Listings Requirements of the JSE Limited ("JSE"), listed companies are required to
publish a trading statement as soon as they become reasonably certain that the financial results for the period to be
reported on will differ by at least 20% from the financial results reported in the previous corresponding period.


Accordingly, shareholders of Grindrod are advised that Grindrod expects the results for the year ended 31 December
2023 ("FY 2023") to be as follows:


                                 2023 Range            2022              Reported Range represents:

 Earnings per share              145.0 cents and       90.1 cents        Increase of between 61 percent and 68 percent
                                 151.0 cents

 Headline earnings per share     148.7 cents and       128.9 cents       Increase of between 15 percent and 20 percent
                                 154.7 cents

 Earnings per share from         145.0 cents and       116.4 cents       Increase of between 25 percent and 30 percent
 continuing operations *         151.0 cents     
                        
 Headline earnings per share     148.7 cents and       111.5 cents       Increase of between 33 percent and 39 percent
 from continuing operations *    154.7 cents     
                        
 Headline earnings per share     200.7 cents and       158.5 cents       Increase of between 27 percent and 30 percent
 from core operations ^          206.7 cents                             

*       Continuing operations include all segments except for Grindrod Bank, which was disposed of on 1 November
        2022.
^       Core operations consist of the Port and Terminals, Logistics and Group segments.

The financial information on which this trading statement is based has not been reviewed nor reported on by Grindrod's
external auditors.

Grindrod will release its FY 2023 results on the JSE's Stock Exchange News Service on or about Thursday, 7 March
2024.


27 February 2024
Durban


Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 27-02-2024 08:30:00
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