Press Release

BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Fort, Bandra-Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai 400 051 September 5, 2026 Sc no.: 117 Dear Sir/Madam, Sub: Press Release – “Tata Motors launches recommended all-cash Voluntary totalitarian tender offer for IVECO Group Common shares” Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance to our letters bearing sc nos. 113, 114 and 116 dated September 1, 2026, September 4, 2026 and September 5, 2026, respectively, we are enclosing herewith a Press Release issued by Tata Motors Limited (formerly TML Commercial Vehicles Limited) on the captioned subject, the content of which is self-explanatory. The Italian version of the aforesaid Press Release is also enclosed herewith for reference. This is for information of the Exchanges and the Members. Thanking you. Yours faithfully, Tata Motors Limited (formerly TML Commercial Vehicles Limited) Ranjan Kumar General Counsel and Company Secretary Encl: as above NOT FOR RELEASE, DISSEMINATION, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION TATA MOTORS LAUNCHES RECOMMENDED ALL-CASH VOLUNTARY TOTALITARIAN TENDER OFFER FOR IVECO GROUP COMMON SHARES Mumbai, India/Turin, Italy/Amsterdam, the Netherlands - 4 September 2026. With reference to the offer document dated today (the “Offer Document”), which is available as of today, Iveco Group N.V. (“Iveco Group” or “Iveco”) (EXM: IVG), an international leader in commercial vehicles and mobility, and Tata Motors Limited (“Tata Motors”) (NSE: TMCV), a global automotive leader, jointly announce the commencement of the voluntary tender offer (the “Offer”) by TML CV Holdings B.V. (the “Offeror”) for all issued common shares of Iveco Group (“Common Shares”) at a price of EUR 14.1 (cum dividend) per Common Share in cash (the “Offer Price”). Terms not defined in this press release will have the meaning as set forth in the Offer Document. Offer highlights • The Acceptance Period runs from 7 September 2026 to 26 October 2026 • The Iveco Group Board of Directors (the “Iveco Board”) unanimously (i) supports the Transaction, (ii) recommends the Offer for acceptance by the shareholders of Iveco Group (the “Shareholders”), and (iii) recommends Shareholders to vote in favour of the resolutions relating to the Offer at the EGM • Iveco Group will hold the EGM on 16 October 2026 • The position statement dated today (the “Position Statement”), is attached to the Offer Document • Exor N.V. (“Exor”), Iveco Group’s largest Shareholder, has irrevocably committed to support the Offer and tender its shareholding representing approximately 27.06% of the Common Shares and 43.19% of all voting rights • The Offeror is committed to supporting and accelerating Iveco Group’s existing strategy and to ensuring the long-term interests of all its stakeholders, including employees, suppliers and customers • The Offeror and Iveco believe that having Iveco operate as a wholly privately owned subsidiary is key to the sustainable success of Iveco’s business and long-term value creation • All the required Competition Clearances, FDI Clearances, FSR Clearance and Prior Authorisations have been obtained • The Offer is subject to certain customary conditions, including a minimum acceptance level of 95% of the Common Shares, to be automatically reduced to 80% if the Shareholders adopt the Back-End Resolution at the EGM • If the Offeror obtains 95% or more of the Common Shares it will commence the Dutch Legal Squeeze-Out, provided that such procedure may be preceded, at the Offeror's election, by the implementation of the Demerger and the Share Sale. If the Offeror obtains between 80% and 95% it intends to implement the Post-Offer Demerger and Liquidation, if approved at the EGM A powerful combination to create a global leader in commercial vehicles The Offer brings together two businesses with highly complementary product portfolios and capabilities and with substantially no overlap in their industrial and geographic footprints, creating a stronger, more diversified entity with a significant global presence and sales of over c.590k units per year. Together, Iveco and the commercial vehicle business of Tata Motors have combined revenues of c.EUR 21 billion (INR 2,28,000Cr+) split across Europe (c.46%), India (c.32%), South America (c.8%) and Rest of the World (c.14%) with attractive positions in emerging markets in Asia and Africa. The combined group will be better positioned to invest in and deliver innovative, sustainable mobility solutions by leveraging both supplier networks to serve customers globally. It will also unlock superior growth opportunities and create significant value for all stakeholders in a dynamic marketplace. By preserving each group’s industrial footprint and employee communities, this complementarity is also expected to foster a smooth and successful integration process. Furthermore, in the context of the ongoing, rapid transformation of the global commercial vehicle industry, the strategic combination of the commercial vehicle business of Tata Motors and Iveco Group will transform both entities, creating a robust platform with a global customer base and geographically diverse footprint. The new company will be able to drive better operating leverage by spreading its capital investments over larger volumes, generating operating efficiencies and reducing the cash flow volatility inherent in the commercial vehicles sector. It will also enable the capabilities of Iveco Group’s successful powertrain business, FPT, to be further enhanced. Girish Wagh, Managing Director and CEO of Tata Motors: "The commencement of the tender offer marks an important milestone in bringing together two highly complementary organizations with a shared commitment to excellence, innovation and customer success. By combining our respective strengths, capabilities and market presence, we have the opportunity to build a stronger, more globally competitive commercial vehicle business that is better positioned to serve customers, invest in future technologies and create sustainable value for all stakeholders. We have immense respect for Iveco Group’s heritage, talented people and trusted brands, and we look forward to supporting their continued growth and success. We believe the tender offer presents a compelling value proposition for Iveco Group shareholders and look forward to its successful completion." Olof Persson, CEO of Iveco Group: "The many benefits of this transformational combination are clear. By creating a major new force in global commercial vehicles, we will unlock the significant advantages of increased scale and reach, accelerate innovation and bring even more industry-leading products to customers worldwide. The complementary nature of our two businesses further enhances the rationale of the transaction, supporting long-term opportunities for our employees, strengthening prospects for our suppliers and partners, and reinforcing the foundations for continued growth. Given these strategic benefits, together with the attractive value offered to shareholders, our Board unanimously supports and recommends the tender offer." The Offer The Offeror is making the Offer on the terms and subject to the conditions and restrictions contained in the Offer Document. Shareholders tendering their Offer Shares under the Offer will be paid a cash amount of EUR 14.10 (cum dividend) per Offer Share in consideration for each Offer Share validly tendered and transferred to the Offeror. The Offer values Iveco Group at approximately EUR 3.82 billion. In the notice published on the Announcement Date, the Offeror announced that it has committed financing in place for the en [Showing first 8,000 characters — download PDF for full document]