Tata Steel Regulatory News (TTST)

November 22, 2023

London Stock Exchange

London

Dear Madam, Sirs,

Sub: Allotment of 7,58,00,309 Fully Paid-up Equity shares of Tata Steel Limited to eligible shareholders of Tata Steel Long Products Limited in terms of the Scheme of Amalgamation amongst Tata Steel Limited and Tata Steel Long Products Limited and their respective shareholders ('Scheme of Amalgamation')

This has reference to our letter dated November 15, 2023, disclosing the effective date of the Scheme of Amalgamation.

We wish to inform you that, the Board of Directors of Tata Steel Limited ('the Company') has today, i.e., November 22, 2023, approved the allotment of 7,58,00,309 fully paid-up equity shares of the Company of face value ?1/- each, to eligible shareholders of Tata Steel Long Products Limited ('TSLP') as on the record date i.e. November 17, 2023 ('Record Date'), in the share exchange ratio of 67:10 i.e., 67 fully paid-up equity shares of the Company of face value ?1/- each to be allotted for every 10 fully paid-up equity shares of TSLP of face value ?10/- each, in terms of the Scheme of Amalgamation as approved and sanctioned by the Hon'ble National Company Law Tribunal ('Hon'ble NCLT'), Mumbai Bench vide order dated October 20, 2023 and the Hon'ble NCLT, Cuttack Bench vide order dated October 18, 2023. These equity shares so allotted shall rank pari-passu with the existing shares of the Company. These equity shares are proposed to be listed and traded on BSE Limited and the National Stock Exchange of India Limited.

The above allotment includes the following:

a) 14,430 fully paid-up equity shares of Tata Steel of face value ?1/- each, allotted to 'TSL-TSLP Fractional Share Entitlement Trust' (managed by Axis Trustee Services Limited), towards fractional entitlements of eligible shareholders of TSLP with all additions or accretions thereto in trust, for the benefit of shareholders of TSLP, during the process of allotment of shares as per the Share Exchange Ratio of 67:10 as provided in the Scheme of Amalgamation.

b) 25,47,224 fully paid-up equity shares of Tata Steel of face value ?1/- each, allotted to 'Tata Steel Limited - Unclaimed Securities - Suspense Escrow Demat Account TSL-TSLP Merger' maintained with Standard Chartered Bank, Fort Branch, Mumbai, representing in aggregate the equity shares of eligible shareholders of TSLP holding equity shares in physical form as on the record date and whose individual demat account details are yet to be made available to the Company as on the date of allotment.

This disclosure is being made in terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This is for your information and record.