Outcome of Board Meeting

JSWSL: MUM: SEC: SE: 2026-27/10/10 October 23, 2026 1. National Stock Exchange of India Ltd. 2. BSE Limited Exchange Plaza, Plot No. C/1, G Block Corporate Relationship Dept. Bandra – Kurla Complex Phiroze Jeejeebhoy Towers Bandra (E), Mumbai – 400 051 Dalal Street, Mumbai – 400 001. NSE Symbol: JSWSTEEL Scrip Code No.500228 Kind Attn.: Listing Department Kind Attn.: Listing Department Subject: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Outcome of Board Meeting held on October 23, 2026 Dear Sir/ Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), please find below the outcome of the Board meeting held today: 1) 5 MTPA Expansion and upgradation of existing plant facilities at Sambalpur by JSW JFE Steel Limited (“JJSL”), a 50:50 joint venture of the Company and JFE Steel Corporation, Japan (“JFE”) JSW JFE Steel Limited (“JJSL”), a 50:50 joint venture of the Company and JFE, has a 4.5 MTPA integrated steel plant at Sambalpur, Odisha and two downstream facilities at Chandigarh & Kolkata. The integrated steel plant at Sambalpur is operating at near full capacity. Considering the increasing domestic steel demand and JJSL’s long-term growth strategy, the Board of Directors of the Company at its meeting held today, have approved a 5 MTPA expansion project and upgradation of existing plant facilities at Sambalpur by JJSL. The equity requirement for the project is estimated at Rs. 7,500 crore, to be contributed equally by the Company and JFE, i.e. Rs. 3,750 crore each. The project implementation is expected to commence from April 2027, subject to receipt of requisite statutory and environmental approvals, and is targeted to be completed over approximately 3.5 years. The project will strengthen JJSL's market position, improve economies of scale, expand value-added product offerings, and enhance export opportunities. 2) Incorporation of wholly-owned subsidiary The Board of Directors at its meeting held today approved incorporation of a wholly- owned subsidiary of the Company in the UAE. The details of subsidiary to be incorporated as required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 and updated on January 30, 2026 is annexed herewith as Annexure A. The aforesaid disclosure is also available on the Company’s website at www.jsw.in. The Board Meeting commenced at 10.00 am and concluded at 14.40 pm. This is for your information and records. Yours faithfully, For JSW Steel Limited Manoj Prasad Singh Company Secretary (in the interim capacity) Encl: as above cc. Singapore Exchange Securities Trading Limited 11 North Buona Vista Drive, #06-07, The Metropolis Tower 2, Singapore 138589 Hotline: (65) 6236 8863 Fax: (65) 6535 0775 Annexure - A Incorporation of a wholly-owned subsidiary Sl. Particulars Details 1 Name of the entity, date & Name of entity and Date of incorporation: Not country of incorporation, etc. Applicable as the entity is yet to be incorporated Proposed Country of incorporation: UAE 2 Name of holding company of The entity proposed to be incorporated will be a the incorporated company wholly owned subsidiary of the Company. and relation with the listed entity 3 Industry to which the entity Steel / Mining & Metals Industry being incorporated belongs 4 Brief background about the Brief background: Incorporation of a wholly-owned entity incorporated in terms subsidiary in the UAE to act as an overseas of products / line of investment, trading and business development business entity. Date of incorporation: Not Applicable as the entity is yet to be incorporated Product/line of business: Steel / Mining & Metals Industry 5 Brief details of any The incorporation would require approvals by governmental or regulatory regulatory authorities in the UAE, as applicable. approvals required for the incorporation 6 Nature of consideration - The Company would subscribe to the ordinary whether cash consideration shares of the proposed entity for an aggregate cash or share swap and details of consideration of AED 100,000 (AED One Hundred the same Thousand Only). 7 Cost of subscription / price at Same as Para 6 above. which the shares are subscribed 8 Percentage of shareholding / The Company will hold 100% shareholding in the control by the listed entity entity proposed to be incorporated. and / or number of shares allotted