Pursuant to Regulations 33 and 52 of the SEBI (LODR) Regulations, 2015, we are enclosing herewith the Financial Results for the second quarter and half year ended September 30, 2026.

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 October 23, 2026 Sc no. - 135 Dear Sir/Madam, Re: Intimation of outcome of Board Meeting under Regulations 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (‘SEBI Listing Regulations’) Pursuant to Regulations 33 and 52 and other applicable Regulations of the SEBI Listing Regulations read with Schedule III thereof and further to our letter bearing sc no.124 dated September 21, 2026, we hereby inform you that the Board of Directors of Tata Motors Limited (formerly TML Commercial Vehicles Limited) (‘the Company’) at its Meeting held today, i.e., October 23, 2026 has, inter alia, approved the Audited Standalone Financial Results along with Auditor’s Report thereon and the Unaudited Consolidated Financial Results along with the Limited Review Report thereon, for the second quarter and half year ended September 30, 2026 (‘Financial Results’). The aforesaid Financial Results and Reports, along with a copy of the Press Release pertaining thereto for the second quarter and half year ended September 30, 2026, are enclosed herewith. The above information is being made available on the Company’s website at https://cv.tatamotors.com/. The Board Meeting commenced at 11:30 a.m. (IST) and concluded at 3.40 p.m. (IST). Thanking you. Yours Faithfully, Tata Motors Limited (formerly TML Commercial Vehicles Limited) Ranjan Kumar General Counsel & Company Secretary Encl: as above Tata Motors Limited Results Q2 FY26 November 13, 2025 Tata Motors Limited (formerly TML Commercial Vehicles Ltd.) Q2 FY27 Results Strong revenue and earnings momentum; resilient margin delivery despite commodity pressures Standalone Revenue ₹23.9K Cr (+42%), EBITDA ₹2.8K Cr (+31%), PBT(bei) ₹2.7K Cr (+51%) FCF ₹4.6K Cr (up ₹2.4K Cr) Mumbai, Oct 23, 2026: Tata Motors Ltd. (TML) announced its results for quarter ending September 30, 2026. TML Standalone TML Consolidated Particulars (Including JO Tata Cummins) FY27 Vs PY FY27 Vs PY Revenue (₹ Cr.) 23,930 42% 25,338 36% EBITDA % 11.7% -90 bps 10.9% -40 bps Q2 FY27 EBIT % 9.7% -50 bps 8.9% 20 bps PBT (bei) (₹ Cr.) 2,660 ₹903 Cr 1,780 ₹2,331 Cr FCF (₹ Cr.) 4,606 ₹2,396 Cr 3,044 ₹1,007 Cr Revenue (₹ Cr.) 43,259 33% 46,005 28% EBITDA % 11.7% -80 bps 10.9% -60 bps H1 FY27 EBIT % 9.6% -30 bps 8.7% -30 bps PBT (bei) (₹ Cr.) 4,717 ₹1,325 Cr 4,829 ₹3,696 Cr FCF (₹ Cr.) 5,721 ₹5,299 Cr 3,404 ₹3,320 Cr Summary: Tata Motors (Standalone) delivered another quarter of robust performance, driven by strong revenue and profit growth. Quarterly revenue came in at ₹23.9K Cr (+42%), EBITDA at ₹2.8K Cr (+31%) and EBITDA margin at 11.7% (-90 bps). On a sequential basis, EBITDA margin was maintained, despite the significant impact from rising commodity costs. Strong operating leverage, disciplined pricing actions, and rigorous cost-efficiency measures helped partially mitigate the impact of commodity inflation. PBT (bei) for the quarter stood at ₹2.7K Cr (+51%) and Profit after tax was ₹2.1K Cr. Free Cash Flow for the quarter stood at ₹4.6K Cr (+₹2.4K Cr) leading to a net cash position of ₹11.3K Cr as of September 30, 2026. Auto ROCE stood at 65% (68% in Q1FY27). Consolidated financials: Consolidated revenues for Q2 FY27 stood at ₹25.3K Cr (+36%), EBITDA at ₹2.8K Cr (+31%) and EBITDA margin came in at 10.9% (-40 bps). PBT (bei) for the quarter was ₹1.8K Cr (+423%) and Profit after tax stood at ₹1.3K Cr (+244%), led by lower mark to market loss on investments in Tata Capital Ltd. As at September 30, 2026, the Company had a strong net cash position of ₹15.9K Cr. Corporate Actions: Iveco update: Following receipt of all regulatory approvals, the tender offer has commenced and will remain open for acceptance until 26 October 2026. At Iveco’s Extraordinary General Meeting held on 16 October 2026, shareholders approved all proposed resolutions. Subject to successful completion of the tender offer, the settlement is scheduled for 30 October 2026. Page 1 of 2 Tata Motors Limited Results Q2 FY26 November 13, 2025 Business Highlights for the quarter: • Total wholesales for Q2 FY27 stood at 135.1K units (+42%) • Domestic & Export volumes were up 30% and 177% YoY respectively • Overall domestic CV VAHAN market share for H1FY27 stood at 36.2%, up 110 bps from FY26 Category wise market shares - HCV 55.7%, ILMCV 36.3%, SCV PU 27.6%, CV Passenger 41.1% • Showcased next-generation passenger mobility solutions at Prawaas 5.0, launches new Ultra Prime and Starbus Prime range • Showcased next-generation aggregates portfolio at Bauma CONEXPO India 2026 • Crowned “Best Truck of the Year” at the Logistics & Transport Award 2026 in the UAE • Signed MoU with Drivn to offer innovative leasing and financing solutions for its electric commercial vehicles • Collaborated with Petronas to pilot a scalable used-oil recycling model • Partnered with Welspun Renewable Energy Private Limited to Develop 86 MW Wind-Solar Hybrid Project Girish Wagh, MD & CEO, Tata Motors Ltd. said: “Q2 FY27 marked another strong quarter in our journey of consistent, profitable growth. Wholesale volumes grew 42%, with broad-based growth across segments, reflecting healthy underlying demand and disciplined execution. With H1FY27 volumes up 35%, we remain well positioned for a robust FY27, even as growth rates are expected to moderate in the second half against a higher base. Core macroeconomic indicators, sustained infrastructure activity and stable fleet utilisation continue to support freight demand, while interest rates, diesel prices and the broader economic environment remain key monitorables. Commodity cost pressures persisted through the first half and remain a headwind. Against this backdrop, we will stay focused on operational excellence, rigorous cost management, enhancing our customer value proposition and advancing our future-ready portfolio. Our priority remains to deliver sustainable, profitable growth and create enduring value for all stakeholders” GV Ramanan, CFO, Tata Motors Ltd. said: “Q2 FY27 delivered strong financial performance, with revenues growing 42% and EBITDA increasing 31%, supported by robust operating performance and continued capital discipline. Strong free cash flow generation of ₹4.6K crore further strengthened our balance sheet, taking our net cash position to ₹11.3K crore. Despite significant commodity cost pressures, particularly in steel and rubber, we maintained margins sequentially through rigorous cost management, operating efficiencies and calibrated pricing actions. On the Iveco transaction, we are progressing steadily towards completion, within the indicated timeline of end October. As we prepare for consolidation from next quarter, our priorities are clear: seamless integration, unlocking strategic opportunities and creating sustained value for the long term” –ENDS– Page 2 of 2 14th Floor, Central B Wing and North C Wing BS R & Co. LLP Nesco IT Park 4, Nesco Center Western Express Highway Chartered Accountants Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 lndeoendent Auditors Reoort To the Board of Directors of Tata Motors Limited (formerly TML Commercial Vehicles Limited) Report on the audit of the Standalone Financial Results Opinion We have audited the accompanying standalone quarterly financial results ofTata Motors Limited (formerly TML Commercial Vehicles Limited) ("the Company") for the quarter ended 30 September 2026 and year to-date results for the period from 1 April 2026 to 30 September 2026 ("the Standalone Financial Results"), (in which are included consolidated interim financial statements / financial information of a joint operation (including its subsidiary company)) attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52(4) read wi [Showing first 8,000 characters — download PDF for full document]