Tata Steel - Q1 FY 2018-19 Financial Results

August 13, 2018

Dear Madam, Sir,

Re: Outcome of the Board Meeting

This has reference to our letters dated August 2, 2018 and August 8, 2018.

The Board of Directors of Tata Steel Limited ('the Board') at its meeting held today, i.e.August 13, 2018, inter alia,

1. Approved the Audited Standalone and Unaudited Consolidated Financial Results of the Company for the quarter ended June 30, 2018.

A copy of the said Results together with the Auditors' Report and Press Release is enclosed herewith.

2. Reviewed the performance and financing plan of the Company and based on the review, approved issue of debt securities of up to Rs. 12,000 crore in the form of Non-Convertible Debentures ('NCDs) on private placement basis in one or more tranches. The funds will be primarily deployed towards capex, repayment of debt and general corporate purposes.

Further, the Board also authorized a Committee of Directors to determine and approve the quantum, timing and terms & conditions of the NCDs.

3. Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the re-appointment of Mr. T. V. Narendran as Chief Executive Officer and Managing Director for a period of 5 years with effect from September 19, 2018 i.e. on the expiry of his present term on September 18, 2018. We affirm that Mr. Narendran is not debarred from holding the office of Director by virtue of any Order passed by the Securities and Exchange Board of India or any other such authority.

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

This is for your information and record.

http://www.rns-pdf.londonstockexchange.com/rns/6526X_1-2018-8-13.pdf