Tata Steel Regulatory News (TTST)

November 23, 2021

London Stock Exchange

London

Dear Madam, Sirs,

Re: Allotment of 1,82,23,805 Fully Paid-up Equity shares of Tata Steel Limited to eligible shareholders of Tata Steel BSL Limited in terms of the approved and sanctioned Composite Scheme of Amalgamation of Bamnipal Steel Limited and Tata Steel BSL Limited into and with Tata Steel Limited under Sections 230 to 232 of the Companies Act, 2013 ('Scheme of Amalgamation')

This has reference to our letter dated November 11, 2021 providing updates on the Scheme of Amalgamation.

We wish to inform you that the Board of Directors has today, i.e. on November 23, 2021, approved allotment of 1,82,23,805 fully paid-up equity shares of Tata Steel Limited ('TSL' or 'Company'), of face value ₹10/- each, to eligible shareholders of Tata Steel BSL Limited ('TSBSL') (as on the record date of November 16, 2021), in the share exchange ratio of 1:15 as provided in the Composite Scheme of Amalgamation as approved by National Company Law Tribunal ('NCLT'), Mumbai Bench vide order dated October 29, 2021. These shares are proposed to be listed and traded on BSE Limited and National Stock Exchange of India Limited.

Further, 1,63,847 fully paid-up equity shares of TSL (included within the aforementioned 1,82,23,805 fully paid-up equity shares) are allotted to 'TSL Fractional Share Entitlement Trust' (managed by Axis Trustee Services Limited), towards fractional entitlements of shareholders of TSBSL for the benefit of shareholders of TSBSL, during the process of allotment of shares as per Share Exchange Ratio as provided in the Scheme of Amalgamation.

Company has retained in the ISIN of TSBSL (INE824B01021), 2,56,53,813 equity shares of TSBSL, which belong to BNPL by virtue of the order dated October 29, 2021 passed by the Hon'ble National Company Law Tribunal, Principal bench, New Delhi, in the case No. 897/2018 ("NCLT Delhi Order") but currently lying in the demat accounts of erstwhile promoter group of TSBSL.

This disclosure is made in terms of Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

This is for your information and records.

Thanking you.