Tata Steel Regulatory News (TTST)

January 21, 2024

London Stock Exchange

London

Dear Madam, Sirs,

Sub: Allotment of 8,64,92,993 fully paid-up Equity Shares of Tata Steel Limited to the eligible shareholders of The Tinplate Company of India Limited ('TCIL') as on the record date of January 19, 2024, in terms of the Scheme of Amalgamation amongst Tata Steel Limited ('Tata Steel') and TCIL and their respective shareholders ('Scheme of Amalgamation')

This has reference to our disclosure dated January 15, 2024, intimating the effective date of the Scheme of Amalgamation.

Consequently, the Board of Directors of Tata Steel Limited ('the Company') has today, i.e., January 21, 2024, approved the allotment of 8,64,92,993 fully paid-up equity shares of the Company of face value ?1/- each, to the eligible shareholders of TCIL as on the record date i.e. Friday, January 19, 2024 ('Record Date'), in the share exchange ratio of 33:10 i.e.,33 fully paid-up ordinary equity shares of the Company of face value ?1/- each to be allotted for every 10 fully paid-up equity shares of TCIL 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 (having jurisdiction over the Company) vide order dated October 20, 2023 and the Hon'ble NCLT, Kolkata Bench (having jurisdiction over TCIL) vide order dated January 1, 2024. These equity shares so allotted shall rank pari-passu with the existing equity shares of the Company. These ordinary 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) 17,019 fully paid-up equity shares of Tata Steel of face value ?1/- each, allotted to'TSL-TCIL Fractional Share Entitlement Trust' (managed by Axis Trustee Services Limited), towards fractional entitlements of eligible shareholders of TCIL with all additions or accretions thereto in trust, for the benefit of shareholders of TCIL, during the process of allotment of shares as per the Share Exchange Ratio of 33:10 as provided in the Scheme of Amalgamation.

b) 18,60,864 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-TCIL Merger' maintained with Standard Chartered Bank, Fort Branch, Mumbai, representing in aggregate the equity shares of eligible shareholders of TCIL 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.