GRINDROD LIMITED - Dealing in Securities by Directors Allocation of Forfeitable Shares

Dealing in Securities by Directors – Allocation of Forfeitable Shares

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

DEALING IN SECURITIES BY DIRECTORS – ALLOCATION OF FORFEITABLE SHARES

In accordance with paragraphs 6.77 to 6.90 of the JSE Requirements, shareholders are advised that the
Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") of Grindrod were awarded forfeitable
shares in terms of Grindrod's forfeitable share plan as set out below:

Name                                                         :   Kwazi Mabaso
Name of company                                              :   Grindrod Limited
Designation                                                  :   CEO
Class of security                                            :   Forfeitable shares in respect of ordinary shares
Nature of transaction                                        :   Off market acceptance of forfeitable shares
Acceptance date                                              :   06 March 2026
Total number of forfeitable shares awarded1                  :   417 535 at target and 626 303 at maximum
                                                                 vesting
Deemed price per share2                                      :   R17.86958
Total value                                                  :   R7 461 175.09 at target vesting and
                                                                 R11 191 771.56 at maximum vesting
Vesting period                                               :   Three vesting periods commencing at the end of
                                                                 years three, four and five from the award date
Extent of interest                                           :   Direct beneficial
Clearance to deal obtained                                   :   Yes

Name                                                         :   Fathima Ally
Name of company                                              :   Grindrod Limited
Designation                                                  :   CFO
Class of security                                            :   Forfeitable shares in respect of ordinary shares
Nature of transaction                                        :   Off market acceptance of forfeitable shares
Acceptance date                                              :   09 March 2026
Total number of forfeitable shares awarded1                  :   290 186 at target and 435 279 at maximum
                                                                 vesting
Deemed price per share2                                      :   R 16.74406
Total value                                                  :   R4 858 891.80 at target vesting and
                                                                 R7 288 337.69 at maximum vesting
Vesting period                                               :   Three vesting periods commencing at the end of
                                                                 years three, four and five from the award date
Extent of interest                                           :   Direct beneficial
Clearance to deal obtained                                   :   Yes

1   Maximum vesting is based on 150% achievement of performance criteria, in line with the approved remuneration policy.
2   Deemed price is based on the volume weighted average closing market price of the Grindrod share over the five (5) trading
     days immediately preceding acceptance date.

09 March 2026

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

Date: 09-03-2026 05:30:00
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