Slide 1: Webcast Q&A instructions
Once the presentation commences, you may type your questions in the Q & Asection All questions will be answered at the end of the presentation Alternatively, questions can be emailed to fathima.ally@grindrod.com for a response in due course www.grindrod.com PORT TERMINALS LOGISTICS GRINDROD
Slide 2: Port Terminals Logistics
PORT TERMINALS LOGISTICS GRINDROD
Slide 3: Safety: Our priority
S A F E T Y F IR S T Safety Our priority SHERQ 2023 2022 * Target Fatality 1 nil nil LTI 20 16 nil LTIFR 0.48 0.43 <=0.5 GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023 * Restated Container depot I JOHANNESBURG
Slide 4: Overview and highlights
GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023 Container depot I JOHANNESBURG XOLANI MBAMBO
Slide 5: Macro context
O V E R V IE W A N D H IG H L IG H T S Macro context GLOBAL SADC § Western Europe’s energy sector constraints persist § Economic growth of 3.3% § High inflationary environment § Growth impacted by inflationary pressures, the global § Geopolitical tensions slowdown and domestic supply issues in the e
Slide 6: Commodity price and container rates
O V E R V IE W A N D H IG H L IG H T S Commodity price and container rates Copper (4%) Iron ore fines (2%) (5%) (24%) 51% 49% Spodumene (18%) Chrome 19% 394% 46% 110% 17% Lithium (41%) Ferrochrome (2%) carbonate 339% (4%) 111% 63% Graphite (19%) Manganese (10%) 44% 5% 16% (12%) Coal (55%) Containers
Slide 7: Highlights | Core
O V E R V IE W A N D H IG H L IG H T S Highlights I Core Operational Financial Shareholder Record port Headline volumes EBITDA earnings 28% 16% 29% 12.6 million tonnes R2.5 billion R1.4 billion Record Mozambique Interim and final terminal volumes ROE ordinary dividend 14% 19% 84% 12.9 million tonnes
Slide 8: Port and Terminals
GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023 Drybulk terminal I MAPUTO XOLANI MBAMBO
Slide 9: Port and Terminals | 2023 highlights
P O R T A N D T E R M IN A L S Port and Terminals I 2023 highlights Maputo port volumes grew 28% to a record 12.6mt § Record monthly performance of 1.0mt - April and May 2023 § Delivery of two additional mobile harbor cranes § Significant effort to unlock border congestion § Increased rail - 8.4% in
Slide 10: Port and Terminals | Performance highlights
P O R T A N D T E R M IN A L S Port and Terminals I Performance highlights Port volumes (mtpa) Terminals volumes (mtpa) 15.9 16.0 12.6 13.0 8.4 8.5 9.8 9.4 7.7 6.7 8.0 6.8 5.3 5.0 H1 CAGR 23% H1 CAGR 19% 3.9 H2 3.7 H2 7.5 7.5 5.9 4.5 H1 4.4 5.0 H1 3.1 3.8 2020 2021 2022 2023 2020 2021 2022 2023 GRIN
Slide 11: Logistics
GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023 Rail I RICHARDS BAY XOLANI MBAMBO
Slide 12: Logistics | 2023 highlights
L O G IS T IC S Logistics I 2023 highlights § Resilient Logistics segment performance § Continued record earnings performance in the ships agency, clearing and forwarding businesses § Refreshed focus on Grindrod's wholly owned container business, UCD § Grindrod’s locomotive deployment rate closed th
Slide 13: Non-core
GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023 North Coast properties I DURBAN XOLANI MBAMBO
Slide 14: Non-core | Overview
N O N -C O R E Non-core I Overview PRIVATE EQUITY Impaired, no further material exposure LAND Recovery of advances secured by property will not be immediate MARINE FUELS Business reported positive headline earnings, lower due to softer oil prices GRINDROD LIMITED Reviewed results and dividend announ
Slide 15: Finance
FINANCE GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023 Port I MAPUTO FATHIMA ALLY
Slide 16: Segmental income statement from continuing operations
2 0 2 3 A N N U A L F IN A N C IA L R E S U LT S Segmental income statement from continuing operations Core % Non-core % Total Total Core revenue Rmillion 2023 Change 2023 Change 2023 2022 adjusted for VAS and charters Revenue 7 490 1 16 044 (5) 23 534 24 360 Trading profit Depreciation and amortisa
Slide 17: Financial highlights | Healthy earnings growth
2 0 2 3 A N N U A L F IN A N C IA L R E S U LT S Financial highlights I Healthy earnings growth Port and Terminals Logistics Core 2023 2022 * 2023 2022 * Rmillion Rmillion Rmillion Rmillion Revenue 3 070 2 590 3 728 3 272 EBITDA 1 336 1 038 1 174 1 245 EBITDA margin (%) 44 40 31 38 Headline earnings
Slide 18: Core business headline earnings analysis
2 0 2 3 A N N U A L F IN A N C IA L R E S U LT S Core business headline earnings analysis Port and Terminals Logistics Group Total Rmillion 2023 2022 * 2023 2022 * 2023 2022 * 2023 2022 * Earnings from core business 785 692 615 601 (66) (203) 1 334 1 090 Headline earnings adjustments 148 3 (127) (5)
Slide 19: Core business headline earnings per share analysis
2 0 2 3 A N N U A L F IN A N C IA L R E S U LT S Core business headline earnings per share analysis Port and Terminals Logistics Group Total Cents per share 2023 2022 * 2023 2022 * 2023 2022 * 2023 2022 * Earnings from core business 118 104 92 90 (10) (30) 200 164 Headline earnings adjustments 22 -
Slide 20: Segmental balance sheet
2 0 2 3 A N N U A L F IN A N C IA L R E S U LT S Segmental balance sheet Capex spend (Rmillion) % % Total Total Rmillion Core Change Non-core Change 2023 2022 Group 15.4 Fixed and intangible assets 6 670 31 7 >100 6 677 5 099 Investments 1 308 10 94 (73) 1 402 1 535 Other assets 442 78 - (100) 442 4
Slide 21: Net debt reconciliation based on operational cash
2 0 2 3 A N N U A L F IN A N C IA L R E S U LT S Net debt reconciliation based on operational cash (excluding joint ventures) Rmillion (711) (711) (1 332) 1 150 (1 221) 1 150 43 (745) (745) 374 December Net cash Interest / Investment Proceeds Non-cash December 2022 * generated dividends / and capita
Slide 22: Net debt based on operational cash
2 0 2 3 A N N U A L F IN A N C IA L R E S U LT S Net debt based on operational cash (excluding joint ventures) Dec Dec Rmillion 2023 2022 Total debt 2 623 2 788 Less: operational cash ^ (1 402) (1 456) Net debt 1 221 1 332 Net debt to equity ratio (%) 12 15 ^ Excludes ring-fenced cash of R1.1 billio
Slide 23: Financial performance | Segmental basis
2 0 2 3 A N N U A L F IN A N C IA L R E S U LT S Financial performance I Segmental basis Non-core Core business 1.08 1.38 operations Headline 2023 NAV earnings Return on Division (Rand / share) (Rand / share) equity Total core business 11.22 2.04 19% NAV 5.40 2.29 R13.68 3.53 No. of shares Port and
Slide 24: Outlook
GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023 Rail I TSHWANE XOLANI MBAMBO
Slide 25: Balanced capital allocation framework
OUTLOOK Balanced capital allocation framework FY 2023 Capex Core EBITDA R2.5 billion Matola Dividends declared Rail Balance sheet (interim and final) R2.5 billion 20% Diversified flexibility 72.4 cents per share 2024 - 2026 commodities Container Manganese Stay-in business capex Hurdle rates 16 - 18%
Slide 26: Outlook
OUTLOOK Outlook Cost focus to sustain Integrated logistics Regional rail Disciplined Maintaining the business solutions operator capital spend strong liquidity GRINDROD LIMITED Reviewed results and dividend announcement for the year ended 31 December 2023
Slide 27: For more information contact
For more information contact Fathima Ally P +27 31 302 7575 E fathima.ally@grindrod.com ‘www.grindrod.com PORT TERMINALS LOGISTICS _ @RInDROD
Slide 28: Appendix
PORT TERMINALS LOGISTICS - @RIpRop
Slide 29: Terminals capacity and utilisation
T E R M IN A L S C A PA C IT Y A N D U T IL IS AT IO N Terminals H1 H2 FY FY Change Template 2023 2023 2023 2022 % capacity Drybulk (tonnes) 8 169 852 9 433 772 17 603 624 17 682 645 - 17 150 000 Matola terminal 1 2 4 233 885 4 699 499 8 933 384 8 110 700 10 7 300 000 Maputo terminal 13 1 791 391 2
Slide 30: Port capacity and utilisation
P O R T C A PA C IT Y A N D U T IL IS AT IO N H1 H2 FY FY Change 2023 2023 2023 2022 % Own handled 1 5 893 393 6 670 490 12 563 883 9 835 273 28 Sub-concession and other 8 693 429 9 983 285 18 676 714 16 936 943 10 Port of Maputo 14 586 822 16 653 775 31 240 597 26 772 216 17 Trucks per day into Map
Slide 31: Forward-looking statements
forward-looking statements. All statements other than al facts included in this presentation are or may be forward-looking ements reflect management's current expectations, beliefs, hopes, regarding the future and assumptions in light of currently available forward-looking statements are subject to