Acquisition of 26% equity stake in TP Adarsh Ltd

Ref.: SEC/180/2026-27

April 21, 2026

London Stock Exchange

London

Dear Madam, Sirs,

Sub: Acquisition of 26% equity stake in TP Adarsh Limited

This has reference to the outcome of the Board Meeting of Tata Steel Limited ('Company') disclosed on July 30, 2025 vide letter reference no. SEC/652/2025-26. The Board of Directors of the Company had approved the infusion of an amount up to ₹6 crore, in one or more tranches, in TP Adarsh Limited ('TPAL'), wholly owned subsidiary of Tata Power Renewable Energy Limited ('TPREL') and to execute a Share Purchase and Shareholders' Agreement ('SPSA') between the Company, TPREL and TPAL, to acquire (including by way of subscription) 26% equity shareholding in TPAL

In this connection, we wish to inform you that the Company has today, i.e. April 21, 2026, executed the Share Subscription and Shareholders' Agreement ('SSSA') with TPREL and TPAL and completed the acquisition, by way of subscription, of 59,00,000 equity shares of face value of ₹10/- each of TPAL (26% equity shareholding) for an aggregate consideration of ₹5,90,00,000/-. Post this transaction, TPAL has become an indirect associate company of Tata Steel Limited.

This disclosure is being made in compliance with Regulation 30, 51 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This is for your information and records.