General Updates

October 23, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot No. C/1, G Block Rotunda Building, P J Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai – 400 001 Mumbai-400051 corp.relations@bseindia.com cmlist@nse.co.in Scrip Code: 532286 Symbol: JINDALSTEL Dear Sir/Madam, Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Grant of Stock Options under Jindal Steel Employee Benefit Scheme – 2022 Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform that the Nomination and Remuneration Committee (“NRC”) of the Company in its meeting held today i.e. Friday, October 23, 2026, has considered and approved the grant of Stock Options to the eligible employee of the Company and its Subsidiary Company(ies) under the Jindal Steel Employee Benefit Scheme – 2022. The details as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, is enclosed herewith as Annexure - A. The aforesaid information will also be available on the website of the Company i.e. www.jindalsteel.in. The NRC Meeting commenced at 9:30 a.m. (IST) and concluded at 10:30 a.m. (IST). This is for your information and records. Thanking You. Yours faithfully, For Jindal Steel Limited (Formerly known as Jindal Steel & Power Limited) Damodar Mittal Wholetime Director Encl.: as above Annexure - A S. Particulars Jindal Steel Employee Benefit Scheme – 2022 No. (“Scheme”) – Grant – I (a) Brief details of options granted Grant of 6,50,056 options to eligible employees under the Scheme (b) Whether the scheme is in terms Yes, the scheme is in compliance with the SEBI of SEBI (SBEB) Regulations, (Share Based Employee Benefits and Sweat 2021, if applicable Equity) Regulations, 2021 (c) Total number of shares covered 6,50,056 equity shares by these options Each stock option is convertible into one (1) equity share of the Company having a face value of Re. 1/- each subject to the adjustments, if any, due to any corporate actions in the Company as mentioned in the Scheme. (d) Pricing formula Face Value + 50% of Market Price (e) Options vested Vesting of the Grant across 5 years in tranches of 20% each (f) Time within which option may Maximum 5 years from the date of Vesting be exercised (g) Options exercised (h) Money realized by exercise of options (i) The total number of shares Not Applicable arising as a result of exercise of option (j) Options lapsed; (k) Variation of terms of options (l) Brief details of significant terms  The Scheme is administered by the Nomination and Remuneration Committee of the Company.  The Options granted under the Scheme shall vest after a minimum Vesting period of 1 (One) year.  Shares arising upon exercise of Options shall be freely transferable and not subject to any lock-in, except as may be prescribed under applicable laws (m) Subsequent changes or cancellation or exercise of such options Not Applicable (n) Diluted earnings per share pursuant to issue of equity shares on exercise of options S. Particulars Jindal Steel Employee Benefit Scheme – No. 2022 (“Scheme”) – Grant – II (a) Brief details of options granted Grant of 24,960 options to eligible employees under the Scheme (b) Whether the scheme is in terms of Yes, the scheme is in compliance with the SEBI (SBEB) Regulations, 2021, if SEBI (Share Based Employee Benefits and applicable Sweat Equity) Regulations, 2021 (c) Total number of shares covered by 24,960 equity shares these options Each stock option is convertible into one (1) equity share of the Company having a face value of Re. 1/- each subject to the adjustments, if any, due to any corporate actions in the Company as mentioned in the Scheme. (d) Pricing formula Face Value + 50% of Market Price (e) Options vested 100% one-time vesting a year after the Grant (f) Time within which option may be Maximum 5 years from the date of Vesting exercised (g) Options exercised (h) Money realized by exercise of options (i) The total number of shares arising as Not Applicable a result of exercise of option (j) Options lapsed; (k) Variation of terms of options (l) Brief details of significant terms  The Scheme is administered by the Nomination and Remuneration Committee of the Company.  The Options granted under the Scheme shall vest after a minimum Vesting period of 1 (One) year.  Shares arising upon exercise of Options shall be freely transferable and not subject to any lock-in, except as may be prescribed under applicable laws. (m) Subsequent changes or cancellation or exercise of such options (n) Diluted earnings per share pursuant Not Applicable to issue of equity shares on exercise of options