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 paragraph 3.63 to 3.74 of the JSE Listings 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                                                          : Xolani Mbambo
Name of company                                               : Grindrod Limited
Designation                                                   : CEO
Class of security                                             : Forfeitable awards in respect of ordinary shares
Nature of transaction                                         : Off market acceptance of forfeitable shares
Acceptance date                                               : 14 March 2025
Total number of forfeitable shares awarded1                   : 688 800 at target and 1 033 200 at maximum vesting
Deemed price per share2                                       : R 12.36215
Total deemed value                                            : R8 515 048.92 at target vesting and R12 772 573.38 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 awards in respect of ordinary shares
Nature of transaction                                         : Off market acceptance of forfeitable shares
Acceptance date                                               : 14 March 2025
Total number of forfeitable shares awarded1                   : 384 203 at target and 576 305 at maximum vesting
Deemed price per share2                                       : R 12.36215
Total value                                                   :  R4 749 575,12 at target vesting and R7 124 368.86 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


20 March 2025

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

Date: 20-03-2025 04:30:00
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