May 2, 2023

Dear Madam, Sirs,

Sub: Outcome of Board meeting

This is with reference to our intimation dated April 14, 2023.

The Board of Directors ('Board') of Tata Steel Limited ('Company') at its meeting held today, i.e., May 2, 2023, inter alia, transacted the following business:

1.   Financial Results

a.)  Considered and approved the audited Standalone and unaudited Consolidated Financial Statements and Results of the Company for the quarter ended March 31, 2023.

b.)  Considered and approved the audited Standalone and Consolidated Financial Statements and Results of the Company for the financial year ended March 31, 2023.

The financial information as required to be provided in terms of Regulation 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,

2015 forms part of the Financial Results.

Price Waterhouse & Co. Chartered Accountants LLP, the Statutory Auditors of the Company have issued auditors' reports with an unmodified opinion on the Financial Results of the Company for the Financial Year ended March 31, 2023. Further, there are no opinions / adverse remarks provided by the auditors in their audit report which have bearing on the interest payment / principal repayment capacity of the Company.

2.   Dividend and 116^th Annual General Meeting

Recommended a dividend of ₹3.60 per Ordinary (Equity) Share of ₹1/- each (360%) to the shareholders of the Company for the FY2022-23.

The dividend recommended by the Board of Directors of the Company is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company scheduled to be held on Wednesday, July 5, 2023.

The dividend, if approved by the shareholders at the AGM, will be paid, subject to deduction of tax at source, on and from Monday, July 10, 2023.

3.   Book Closure

Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board approved the closure of the Register of Members and Share Transfer Books of the Company from Friday, June 23, 2023 to Wednesday, July 5, 2023 (both days inclusive) for taking record of the Members of the Company for the purpose of payment of dividend and the AGM for the financial year ended March 31, 2023.

The Board meeting commenced at 2.30 p.m. (IST) and concluded at 6:15 p.m. (IST).

A copy of the said results together with the Auditors' Report for quarter and financial year ended March 31, 2023, press release, investor presentation are enclosed herewith.

These are also being made available on the website of the Company at www.tatasteel.com

This is for your information and records.