Sale of Indirect Subsidiary Black Ginger461 PtyLtd

February 18, 2019

London Stock Exchange

London

Dear Madam, Sirs,

Sub: Sale of Indirect Subsidiary, Black Ginger 461 Pty Ltd ("Black Ginger")

This has reference to our earlier disclosure dated October 19, 2018 with respect to T S Global Minerals Holdings Pte Ltd (an indirect wholly owned subsidiary of Tata Steel Limited) entering into an agreement with IMR Asia Holding Pte Ltd to divest its entire stake in Black Ginger (100%). Black Ginger in turn holds 64% stake in Sedibeng Iron Ore Pty Ltd, which is the operating company.

This is to inform you that T S Global Minerals Holding Pte Ltd has today concluded the divestment of its entire stake in Black Ginger.

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

This is for your information and records.