JSWSTEEL : TO INCORPORATE STEP-DOWN WHOLLY-OWNED SUBSIDIARY IN INDIA

• Board of Peddar Realty Limited (PRL), a wholly-owned subsidiary of the company, approved incorporation of a step-down wholly-owned subsidiary in India • Proposed entity to undertake real estate activities including acquisition, management, development, purchase, sale and lease of land parcels and buildings • PRL to initially subscribe to equity shares of the proposed entity for aggregate cash consideration of up to ₹2 L • Entity intended for strategic land acquisition and development of building sites, offices, residential premises and factories to facilitate future development opportunities • Incorporation subject to approval from the Ministry of Corporate Affairs

JSW Steel Ltd

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