Unaudited condensed consolidated interim results and cash dividend declaration for the six months ended 30 June 2024 Grindrod Limited Incorporated in the Republic of South Africa Registration number: 1966/009846/06 Share code: GND and GNDP ISIN: ZAE000072328 and ZAE000071106 ("Grindrod", or "the Company" or "the Group") Unaudited condensed consolidated interim results and cash dividend declaration for the six months ended 30 June 2024 OPERATIONAL Port volumes ^ 18% 6.9 million tonnes Drybulk terminal volumes ^ 3% 8.4 million tonnes FINANCIAL Core EBITDA* R1.0 billion Core headline earnings* R562 million CAPITAL ALLOCATION Cash generated from operations ^ 13% R425 million Interim ordinary dividend 23.0 cents per share *Inclusive of joint ventures. PERFORMANCE REVIEW The Group achieved headline earnings of R561.9 million from its core operations for the six months ended 30 June 2024 ("period") (H1 2023: R563.4 million). Port of Maputo grew its own handled volumes by 18% to 6.9 million tonnes underpinned by strong demand for chrome. By prioritising its technology enabled visualisation projects and automation of its cargo handling processes, the port continued to deliver on its strategic objectives and will continue to build momentum on key customer initiatives. Grindrod's drybulk terminals handled 8.4 million tonnes. Richards Bay volumes rebounded to 1.6 million tonnes for the period, reflecting a 20% growth on prior period. Ships agency and clearing and forwarding businesses achieved strong headline earnings growth of 38% on the back of a higher customer base and port calls. This growth was, however, dampened by the continuing negative impact of logistics constraints on the container handling depot throughput and transport resulting in the overall logistic earnings growth of only three percent. Structural reorganisation of the rail business is complete with the focus on the rail strategy underway. Following the mutual termination of the rail operation contract in Sierra Leone, 13 Grindrod locomotives will be returning to South Africa in quarter three. By building an effective rail solution, Grindrod is scaling up and driving efficiency on key corridors in which it operates, accelerating growth in volumes and enabling integrated pit-to-port solutions. Unaudited Unaudited 30 June 2024 30 June 2023 Change Core operations inclusive of joint ventures* Rm Rm % Revenue 3 772 3 795 (1) Earnings before interest, taxation, depreciation and amortisation (EBITDA) 1 039 1 120 (7) Profit attributable to ordinary shareholders 566 520 9 Headline earnings 562 563 - *Core operations includes Port and Terminals, Logistics and Group. GROUP RESULTS The Group reported a profit of R485.9 million for the period against R444.1 million. Headline earnings decreased by one percent to R481.4 million compared to R487.3 million in the prior period. Unaudited Unaudited 30 June 2024 30 June 2023 Change Total Group on a legal basis Rm Rm % Revenue 2 480 2 470 - EBITDA 440 487 (10) Basic earnings 486 444 9 Headline earnings 481 487 (1) Basic earnings per share (cents) 72.8 66.6 9 Headline earnings per share (cents) 72.1 73.0 (1) DECLARATION OF DIVIDEND Ordinary dividend Notice is hereby given that a gross interim ordinary dividend of 23.0 cents per share has been declared out of income reserves for the six months ended 30 June 2024 (2023 H1: 34.4 cents per share). The interim net dividend is 18.4 cents per share for ordinary shareholders who are not exempt from dividends tax. At the date of this announcement, there were 698 031 586 issued ordinary shares. Preference dividend Notice is hereby given that a gross interim preference dividend of 516.0 cents (2023 H1: 483.0 cents) per cumulative, non-redeemable, non-participating and non-convertible preference share has been declared out of income reserves for the six months ended 30 June 2024. The interim net preference dividend is 412.8 cents per share for preference shareholders who are not exempt from dividends tax. At the date of this announcement, there were 7 400 000 preference shares in issue. Salient dates The salient dates for the ordinary dividend and preference dividend ("dividends") are as follows: Dividend declaration date Friday, 23 August 2024 Last date to trade cum-dividend Tuesday, 17 September 2024 Ordinary shares and preference shares start trading ex-dividend Wednesday, 18 September 2024 Record date Friday, 20 September 2024 Payment date Monday, 23 September 2024 No dematerialisation or rematerialisation of ordinary shares and preference shares will be allowed during the period Wednesday, 18 September 2024 to Friday, 20 September 2024, both days inclusive. The local dividend tax rate is 20% and Grindrod's tax reference number is 9435/490/71/0. Both the ordinary dividend and preference dividend are declared in the currency of the Republic of South Africa. Directors' statement This short-form announcement is the responsibility of the directors and is only a summary of the information of the full announcement and does not contain full or complete details. The full announcement is available on the Company's website at www.grindrod.com and on the JSE cloudlink on 23 August 2024 at https://senspdf.jse.co.za/documents/2024/jse/isse/GNDE/Interim24.pdf. Copies of the full announcement may also be requested by email at investorrelations@grindrod.com. Any investment decision by investors and / or shareholders should be made having considered the full announcement as a whole. By order of the Board VB Commaille Group Company Secretary 23 August 2024 Registered office and business address Grindrod Mews, 106 Margaret Mncadi Avenue, Durban, 4001 Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 23-08-2024 07:45:00 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.