Tata Steel Update on COVID-19 Outbreak

As the new outbreak of the COVID-19 coronavirus continues to spread rapidly around the world, Tata Steel said: “As national governments intensify their efforts to contain the spread of COVID-19, Tata Steel will reduce operations at certain facilities. We have already strengthened our employee risk mitigation measures across all of our sites and communities around us. Strict travel restrictions were put in place and most of our employees were asked to work from home. Additional resources are allocated to improve hygiene standards in all locations and to enforce strict social distancing guidelines for employees and other stakeholders who must be involved in core activities in the workplace. These are unprecedented times and the situation on the ground is evolving very quickly and we are working closely with customers and suppliers, as well as with various government agencies, to mitigate these impacts as much as possible. We are closely monitoring the situation and are ready to reconsider these decisions taking into account developments on the ground. "

India. Based on specific instructions and approvals from the relevant district administration, the company's mining operations are proceeding normally, but the volumes of the integrated steel plants in Jamshedpur, Kalinganagar-Angula (Tata Steel BSL) and Gamahria (Tata Steel Long Products) have begun to decline. production levels and operations at downstream plants were suspended and put into service and maintenance mode. Due to shipping restrictions for finished goods and poor market conditions due to customer disruption in the automotive, construction and other segments, shipments to customers were reduced. The company is focused on preserving cash and liquidity and is reducing the cost base to match the operating and market environment, with a focus on working capital management.

Europe - Tata Steel Europe is collaborating with the national guidelines of the respective countries and has updated measures to mitigate employee risk across all locations. We are determined to continue to supply steel products vital to society, including food packaging, where the demand for canned food has increased. However, overall European demand for steel has fallen sharply from normal conditions and many of our customers have suspended production, including European car manufacturers. Therefore, Tata Steel Europe has cut production at some of its European factories to meet this lower demand. The business is focused on preserving cash and liquidity during a difficult period. Tata Steel Europe is currently in operation