Grindrod Shipping Holdings Ltd. Announces Disclosure Update

GRINDROD SHIPPING HOLDINGS LTD.
ABBREVIATED NAME: GRINSHIP
Registered in Singapore with registration number 201731497H JSE
Share code: GSH
ISIN: SG9999019087
Primary listing on NASDAQ Global Select Market
Secondary listing on the JSE Main Board

Grindrod Shipping Holdings Ltd. Announces Disclosure Update

On 25 October 2023, Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) ("Grindrod Shipping" or
"Company" or "we" or "us" or "our"), a global provider of maritime transportation services predominantly in
the drybulk sector, provided the following update.

As previously announced, Taylor Maritime Investments Limited (LON: TMI) ("TMI"), through a wholly-owned
subsidiary, has acquired approximately 83.23% of the outstanding shares of Grindrod Shipping Holdings Ltd.
(NASDAQ: GRIN) (JSE: GSH) ("Grindrod Shipping"). TMI publishes from time to time annual and quarterly
financial information as well as other important information concerning its business on the London Stock
Exchange website, TMI's website (https://taylormaritimeinvestments.com) and elsewhere. Such information
may include financial and other information concerning Grindrod Shipping. For example, today, TMI published
a quarterly NAV announcement and trading update, factsheet and investor presentation on the London Stock
Exchange and its website which included information regarding Grindrod Shipping. Such information is not
included as part of, or incorporated by reference in, this 6-K or any of Grindrod Shipping's public filings or press
releases.

TMI's quarterly NAV announcement referenced above notes that the blended net time charter equivalent
("TCE") across the TMI and Grindrod Shipping fleet was $10,695 per day for the quarter ended September 30,
2023 (including Handysize and Supra/Ultramax vessels) and the combined fleet has contracted 29% of
remaining fleet days to the March 31, 2024 at a blended time charter equivalent rate of approximately $12,200
per day.

Grindrod Shipping debt (including lease liabilities) reduced by $7.7 million to $168.9 million during the quarter
ended September 30, 2023. The estimated debt to gross assets ratio on a "look through" basis as of September
30, 2023 was 38.5%.

In addition, TMI will receive its proportionate share of the previously announced capital reduction cash
distribution of US$32.44 million payable from Grindrod Shipping to its shareholders in two tranches on October
26, 2023 and December 11, 2023.
About Grindrod Shipping

Grindrod Shipping predominantly owns and operates a diversified fleet of owned and long-term and short-
term chartered-in drybulk vessels. The drybulk business, which operates under the brand "Island View
Shipping" ("IVS") includes a core fleet of handysize and supramax/ultramax drybulk carriers. The Company is
based in Singapore, with offices in London, Durban, Tokyo and Rotterdam. Grindrod Shipping is listed on
NASDAQ under the ticker "GRIN" and on the JSE under the ticker "GSH".



Company Contact:                                      Investor Relations / Media Contact:
Edward Buttery CEO
Grindrod Shipping Holdings Ltd.                       Grindrod Shipping Holdings Ltd.
1 Temasek Avenue, #10-02 Millenia Tower               1 Temasek Avenue, #10-02 Millenia Tower
Singapore, 039192                                     Singapore, 039192
Email: ir@grindrodshipping.com                        Email: ir@grindrodshipping.com
Website: www.grinshipping.com                         Website: www.grinshipping.com



By order of the Board
25 October 2023
Sponsor: Grindrod Bank Limited

Date: 25-10-2023 01:00:00
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