Voluntary Announcement: Ex Grindrod Distribution Trading GRINDROD LIMITED (Registration number: 1966/009846/06) Ordinary share code: GND and ISIN: ZAE000072328 Preference share code: GNDP and ISIN: ZAE000071106 (“Grindrod” or “the Company”) VOLUNTARY ANNOUNCEMENT: TRADING EX GRINDROD DISTRIBUTION The ordinary shareholders and preference shareholders of Grindrod (collectively, “Shareholders”) are referred to the circular to Shareholders, distributed on Monday, 7 May 2018 (“Circular”, using terms defined therein) detailing, inter alia, the terms of the Grindrod Distribution. Shareholders are further referred to the announcement released by the Company on the Stock Exchange News Service on 4 June 2018 (Cash payment applicable to the Grindrod Distribution). Shareholders are reminded that Grindrod ordinary shares began trading ex the Grindrod Distribution, with effect from commencement of business today, Wednesday, 13 June 2018, in accordance with the Salient Dates and Times contained in the Circular and as extracted below. The Grindrod ordinary share price has accordingly adjusted for trading ex the Grindrod Distribution. In accordance with the Circular, ordinary Shareholders will receive one Grindrod Shipping (“GSH”) share for every forty Grindrod Limited ordinary shares with the secondary inward listing of the GSH shares on the JSE scheduled to occur on Tuesday, 19 June 2018, with no reduction in the number of ordinary shares held in Grindrod Limited. Remaining Salient Dates and Times: 2018 Grindrod Ordinary Shares trade ‘ex’ the entitlement to the Wednesday, 13 June Grindrod Distribution with effect from the commencement of business on Grindrod Distribution Record Date Friday, 15 June Implementation Date Monday, 18 June Primary listing of Grindrod Shipping (Grindrod Shipping Monday, 18 June Ordinary Shares) on the NASDAQ with effect from the commencement of business (09h30 GMT -04:00, being 15h30 South African Standard Time) Secondary inward listing of Grindrod Shipping (Grindrod Tuesday, 19 June Shipping Ordinary Shares) ISIN SG9999019087 with alpha code GSH and short name GRINSHIP on the JSE with effect from the commencement of business (09h00 South African Standard Time) on Fractional Entitlement payment date Tuesday, 19 June Durban 13 June 2018 Transaction Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Corporate Sponsor Grindrod Bank Limited Date: 13/06/2018 01:52:00 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.