Outcome of Board Meeting

November 11, 2021

London Stock Exchange

London

Dear Madam, Sir,

Re: Outcome of Board Meeting

The Board of Directors of Tata Steel Limited ('the Company') at its meeting held today, i.e. November 11, 2021, inter alia, approved the audited Standalone and unaudited Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2021. The financial information as required to be provided in terms of Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations') forms part of the Financial Results.

Further, we confirm that, pursuant to Regulation 52(7) & (7A) of the Listing Regulations, the issue proceeds of non-convertible securities have been fully utilized without any material deviation.

A copy of the said Results together with the Auditors' Report for quarter and half year ended September 30, 2021, Press Release and Investor Presentation are enclosed herewith.http://www.rns-pdf.londonstockexchange.com/rns/1343S_1-2021-11-11.pdf

In terms of the Composite Scheme of Amalgamation of Bamnipal Steel Limited ('BNPL') and Tata Steel BSL Limited ('TSBSL') into and with Tata Steel Limited ('Scheme of Amalgamation') as approved and sanctioned by the Hon'ble National Company Law Tribunal, Mumbai bench vide Order dated October 29, 2021, the Board of Directors of the Company, today, approved the issuance of one fully paid-up Equity Share of Tata Steel Limited of face value Rs. 10/- each for every fifteen Equity shares of TSBSL of face value Rs. 2/- each upto 1,99,34,052 equity shares, to eligible shareholders of TSBSL as on the Record Date i.e., November 16, 2021 (as announced by TSBSL). Further, in terms of the Scheme of Amalgamation, the Equity shares owned by BNPL in TSBSL and Equity shares owned by the Company in BNPL shall stand cancelled. Also, the Preference shares held by the Company in TSBSL shall also stand cancelled.

The Board meeting commenced at 2:30 p.m. (IST) and concluded at 6.30 p.m. (IST).

The above announcements are also being made available on the website of the Company www.tatasteel.com 

This disclosure is being submitted pursuant to Regulation 30 read with Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This is for your information and records.