News Clarification

Tata Steel Limited

06 June 2024

 

June 6, 2024

London Stock Exchange

London

Dear Madam, Sirs,

Sub: News Clarification

This has reference to the news article captioned 'Dutch May Pay as Much as €3 Billion to Clean Up Tata Steel Plant' dated June 5, 2024, published online on www.bloomberg.com and other mainstream media.

In this connection, as was disclosed in the Financial Results for the year and quarter ended March 31, 2024, the Company is in discussions with the Dutch Government on the proposed decarbonization roadmap.

The Dutch Parliament, in March 2024 formally gave a mandate to the Government to negotiate the terms of potential support towards a proposal for decarbonization in Tata Steel Nederland. Subsequently, the Dutch Government has formulated a detailed framework of diligence, analysis, discussions and negotiations with Tata Steel which will run over several months before potentially culminating in an agreed set of terms. These terms will then require approval from the Netherlands Parliament as well as the Board of Tata Steel. It may be premature to draw any final conclusions at this time and hence the Company is not in a position to comment any further on the news reports appearing in the mainstream media. 

Further, we wish to state that the Company has robust processes to comply with its disclosure obligations and is committed to making accurate and adequate disclosures in a timely manner as required by Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended ('SEBI Listing Regulations'), read with the Company's Policy on Determination of Materiality for Disclosure.

This clarification is being provided in terms of Regulation 30(11) of the SEBI Listing Regulations.

This is for your information and records.

 

END