Acquisition

March 1, 2023

London Stock Exchange

London

Dear Sir, Madam,

Sub: Acquisition of Non-convertible Redeemable Preference Shares of TRF Limited, aggregating to ₹74 crore

This is further to our disclosure dated June 8, 2022.

This is to inform you that Tata Steel Limited has on March 1, 2023, acquired 7,40,00,000 (Seven crore and forty lakh only) - 12.17% (effective yield) Non-cumulative, Non-convertible,Non-participating, Redeemable Preference Shares ('NCRPS') of face value ₹10/- each ofTRF Limited, a listed associate company of Tata Steel Limited, aggregating to ₹74 crore(NCRPS Series - 2), on private placement basis.

The details of the acquisition are given in Annexure A.

http://www.rns-pdf.londonstockexchange.com/rns/5703R_1-2023-3-1.pdf

This disclosure is made in compliance with 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 records.