Tata Steel : 10.25% Non-Convertible Debentures with ISIN INE081A08157, aggregating to ₹2,500 crore (‘NCDs’)

January 6, 2021

National Stock Exchange of India Limited,

Exchange Plaza, Plot C/1, G Block,

Bandra Kurla Complex, Bandra (East),

Mumbai 400 051

Symbol: TATASTEEL/TATASTLPP

Dear Madam, Sirs,

10.25% Non-Convertible Debentures with ISIN INE081A08157,

aggregating to ₹2,500 crore ('NCDs')

This is with reference to our letter dated November 13, 2020, intimating that the Board of Directors of Tata Steel Limited, at its meeting held on November 13, 2020, has approved the proposal to exercise the call option to redeem the abovementioned NCDs in full, amongst others, with outstanding Principal amount of ₹3,350 crore together with annual interest at the rate of 10.25% p.a., on the due date i.e., Wednesday, January 6, 2021.

In view of the above and in terms of Regulation 57(1) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, we certify that interest at the rate of 10.25% p.a. along with full outstanding Principal amount of ₹3,350 crore was paid on the above mentioned NCDs today i.e. on January 6, 2021.

This is for your information and records.

Yours faithfully,

Tata Steel Limited

Parvatheesam Kanchinadham

Company Secretary &

Chief Legal Officer (Corporate & Compliance)

Registered Office Bombay House 24 Homi Mody Street Fort Mumbai 400 001 India

Tel [phone] Fax [phone] Website www.tatasteel.com

Corporate Identity Number L27100MH1907PLC000260