Transfer of stake by Tata Steel Ltd in Group Co

1

The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during last Financial Year

a) For Transfer to TSUISL

Tata Steel Limited held 36,19,945 equity shares of ₹10/- each in HSMS, a joint venture company with 26% of equity shareholding being held by TSL. As on March 31, 2021, the net worth attributable to shareholding in HSMS, as considered in the Company's financial statements was ₹6.46 crore.

b) For Transfer to TSDPL

Tata Steel Limited held 25,67,000 Equity Shares of ₹10/- each in Tata Steel Odisha Limited (now renamed as Tata Steel Advanced Materials Ltd. (TSAML)), a wholly owned subsidiary of TSL. As on March 31, 2021, the turnover of TSAML as considered in the Company's financial statements was NIL.

2

Date on which the agreement for sale has been entered

NA

3

The expected date of completion of sale / disposal

The transaction has been completed on July 1, 2021.

4

Consideration received from such sale / disposal

a) For HSMS Share Transfer to TSUISL

The consideration is in the form of 6,88,639 Equity Shares of TSUISL at ₹213/- per equity share (includes face value of ₹10/- each) being the fair value as determined by an Independent Registered Valuer. TSUISL continues to be a wholly owned subsidiary of the Company.

b) For TSAML Share Transfer to TSDPL

The entire holding in TSAML was transferred to TSDPL for a cash consideration of ₹1/-. TSDPL continues to be a wholly owned subsidiary of the Company.

5

Brief details of buyers and whether any of the buyers belong to the Promoter / Promoter Group/ Group Companies. If yes, details thereof;

Tata Steel Utilities and Infrastructure Services Limited and Tata Steel Downstream Products Limited are wholly owned subsidiaries of Tata Steel Limited.

6

Whether the transaction would fall within Related Party Transaction? If yes, whether the same is done at "arms-length"

Yes, the transactions are with a Related Party and on arms-length basis.

7

Additionally, in case of a slump sale, indicative disclosures provided for amalgamations / merger, shall be disclosed by the listed entity with respect to such slump sale.

Not applicable

1.

Details and reasons for restructuring

The Company is reorganizing its footprint in India into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders.

a) For Transfer to TSUISL

TSUISL has been identified as the anchor entity for the Utilities and Infrastructure Services cluster. Accordingly, the Company's investment(s) held in entities forming part of the Utilities and Infrastructure Services business are being consolidated with TSUISL.

b) For Transfer to TSDPL

TSDPL has been identified as the anchor entity for downstream business. Accordingly, the Company's investment(s) held in entities forming part of downstream business are being consolidated with TSDPL.

2.

Quantitative and/ or qualitative effect of restructuring

3.

Details of benefit, if any, to the promoter/promoter group/group companies from such proposed restructuring

4.

Brief details of change in shareholding pattern (if any) of all the entities

a. Tata Steel Limited

There is no change in shareholding pattern of Tata Steel Limited.

b. Tata Steel Utilities and Infrastructure Services Limited

Post the allotment of 6,88,639 Equity Shares by TSUISL to TSL, Tata Steel's shareholding in TSUISL stands increased to 5,86,70,521 Equity Shares. TSUISL continues to be a wholly owned subsidiary of Tata Steel Limited.

c. Himalaya Steel Mill Services Private Limited

(%)

d. Tata Steel Downstream Products Limited

TSDPL continues to be a wholly owned subsidiary of Tata Steel Limited.

e. Tata Steel Advanced Materials Limited

(%)