Grindrod Limited · JSE:GND
Grindrod — Investor Presentation (October 2026)
19 slides from Grindrod's investor presentation, October 2026
Slide 1: Investor engagement
grindrod.com Investor engagement CHAIR AND NON-EXECUTIVE LEAD October 2026
Slide 2: Forward-looking statements
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. All statements other than statements of historical facts included in this presentation are or may be forward-looking statements. These statements reflect management’s current expectations, beliefs, hopes, intentions or
Slide 3: Purpose of this engagement
PURPOSE OF THIS ENGAGEMENT Introduction We are opening a direct and continuing channel with our shareholders. ▪ Management recently covered performance, strategy execution and results. ▪ As Chairman and Lead Independent Director, we wish to focus on: Governance, stewardship, strategic oversight and
Slide 4: Grindrod's strategic journey
GRINDROD’S STRATEGIC JOURNEY From a diversified holding company to a focused ports, terminals and logistics company THEN: A DIVERSIFIED HOLDING COMPANY Shipping Banking and Private equity and Sub-scale and Balance sheet and Ports, terminals financial services non-core investments non-core logistics
Slide 5: Our board leadership
OUR BOARD LEADERSHIP Board leadership Raymond Ndlovu Hubert Brody Independent Non-executive Chairperson Lead Independent Director Appointed November 2024, appointed as Appointed May 2026. Chairman 2026. BACKGROUND BACKGROUND A career in investment and capital CA (SA). Extensive listed-company market
Slide 6: Our Board
OUR BOARD Nine non-executive directors, eight independent, and two executives Raymond Ndlovu Independent Non-executive Chairperson Hubert Brody Mary Bomela Naidene Ford-Hoon Walter Grindrod Andile Khumalo Lead Independent Director Independent Non-executive Independent Non-executive Non-executive Dir
Slide 7: Board skills and diversity
BOARD SKILLS AND DIVERSITY A Board refreshed for the next phase Eleven directors, eight of nine non-executives independent, with four new appointments in May 2026. NON-EXECUTIVES PREVIOUSLY INDEPENDENT 36% DISADVANTAGED DIRECTORS 8 of 9 FEMALE REPRESENTATION 72% NEW NEDS IN MAY 2026 LOGISTICS AND FI
Slide 8: Board committees: Role, chair and members
GOVERNANCE STRUCTURE Board committees: Role, chair and members Six standing committees, each with a focused mandate reporting to the Board. Composition effective 23 June 2026. AUDIT INVESTM ENT NOM INATION AND GOVERNANCE Independent oversight of Capital allocation and investment Board composition, a
Slide 9: Listening: your views on shaping the future
LISTENING As valued shareholders, we would like your views into how we shape the future 01 Which long-term structural trends do you believe are key to Grindrod’s growth? 02 Where are our greatest long-term value creation opportunities? 03 What distinguishes companies that retain supportive long-term
Slide 10: What we do: Mission, vision and core activities
W HAT W E DO Mission, vision and core activities We unlock Africa’s abundance. We move minerals, agricultural products, containers and project cargo along southern and east African trade corridors, through the ports and terminals we own or operate and the logistics businesses that connect them inlan
Slide 11: One Grindrod: End-to-end ports, terminals and logistics
PORTFOLIO ACTIONS One Grindrod: End-to-end ports, terminals and logistics as the integrator Two segments, one capital allocation framework and one set of return metrics. Group H1 2026: Revenue R2.8 billion, up 19% EBITDA R884 million, up 52% Net cash R535 million Gross debt R3.1 billion * Incrementa
Slide 12: Geographic spread across trade corridors
GEOGRAPHIC SPREAD Integrated network across the southern and east African trade corridors SOUTHERN AFRICA ▪ Mozambique - port of Maputo, drybulk and car terminals, intermodal container facilities ▪ South Africa - Richards Bay and Durban terminals, container depots, warehousing, road and rail ▪ Namib
Slide 13: Competitive position: strengths and differentiators
COMPETITIVE POSITION Our strengths and differentiators Assets that cannot be easily replicated A concession in the port of Maputo running to 2058, terminals with dedicated rail and conveyor connections, and quayside and land positions on the busiest corridors into Gauteng and the Copperbelt. Positio
Slide 14: Capital allocation framework
CAPITAL ALLOCATION Capital is allocated judiciously, tested through a well-considered matrix and ultimately against well-considered benchmark return hurdles The order applies over the medium to long term. The framework is reviewed annually and with every major investment decision. 01 02 03 04 05 STA
Slide 15: Every investment tested against a return
CAPITAL ALLOCATION Every investment is tested against a return before capital is committed Every investment must pass two tests: Strategic fit and return. The framework is reviewed at least annually and with every major investment decision. 01 02 03 04 PROPOSAL AND DEBATE TESTED RECOMMENDED MEASURED
Slide 16: Growth pathway: near to medium-term pipeline
GROW TH PATHWAY Visible near to medium-term growth pipeline Capacity expansion that strengthens Grindrod as an integrated logistics provider, tested for strategic fit and return. MATOLA TERMINAL SA RAIL MAPUTO PORT RICHARDS BAY EXPANSION OPEN ACCESS DREDGING HANDLING FACILITY 7.3 > 12 mtpa 0.4 mtpa
Slide 17: Remuneration aligned to shareholder value
REMUNERATION We align shareholder value to management incentives Remuneration is deliberately tied back to the returns capital was approved against. Award Year 1 Year 2 Year 3 Year 4 Year 5 STI 1 year LTI measurement years 1 - 3 Vesting years 3 - 5 PAYMENT TIMELINE MSR: For vesting from 2028, execut
Slide 18: Remuneration in more detail
REMUNERATION IN DETAIL Remuneration in more detail: Pay is tested against a published scorecard Remuneration policy 98.55% FOR Implementation report 99.13% FOR EXECUTIVE TARGET PAY-MIX CEO AND CFO Below threshold TGP 100% Threshold TGP 100% STIP 50% LTIP 50% On-target TGP 100% STIP 100% LTIP 100% St
Slide 19: Thank you