Submission of Investor Presentation to be made to the Analysts/ Investors on the Financial Results and Operations of Tata Motors Limited (formerly TML Commercial Vehicles Limited) 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.- 136 Dear Sir/Madam, Sub: Submission of Investor presentation to be made to the Analysts/ Investors Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and with further reference to our letter bearing sc no. 129 dated October 5, 2026, we are enclosing herewith the presentation to be made to the Analysts/ Investors on the Financial Results and operations of Tata Motors Limited (formerly TML Commercial Vehicles Limited) (‘the Company’) for the second quarter and half year ended September 30, 2026. The same is also being made available on the Company’s website at https://cv.tatamotors.com/. This is for information of the Exchanges and the Members. Yours Faithfully, Tata Motors Limited (formerly TML Commercial Vehicles Limited) Ranjan Kumar General Counsel & Company Secretary Encl: as above Tata Motors Limited (formerly known as TML Commercial Vehicles Ltd.) Results for the quarter ended September 30, 2026 Girish Wagh - MD & CEO GV Ramanan - Chief Financial Officer c Copyright, Confidential, Tata Motors Limited Safe harbour statement Statements in this presentation describing the objectives, projections, estimates and Other Details expectationsofTata Motors Limited andits business segmentsmaybe“forward-looking • Presentation format : The results provided in this deck represent details on statements” within the meaning of applicable securities laws and regulations. Actual Standalone level including Joint operations with Tata Cummins. results could differ materially from those expressed or implied. Important factors that • Consolidated financial statements comprises of TML (including Joint operation with could make a difference to the Group’s operations include, amongst others, economic Tata Cummins) and its subsidiaries TDM, TDMS, TMBSL, PTTMIL, TML CV Mobility conditionsaffectingdemand/supplyandpriceconditionsinthedomesticandoverseas Solutions, TML Smart City Mobility Solutions, Freight Tiger, TMF Holding group, marketsinwhichtheGroup operates,changesinGovernmentregulations,taxlawsand TMIBASL, TML Holdings CV, associate companies viz ACGL, Nita Co, Tata Hitachi, and otherstatutesandincidentalfactors. joint ventures TMGSL, and TMDALL. Certain analysis undertaken and represented in this document may constitute an • Reported EBITDA is defined to include the product development expenses charged to estimate from the Group and may differ from the actual underlying results. P&L and realised FX and commodity hedges but excludes the gain/ loss on realised derivatives entered into for the purpose of hedging debt, revaluation of foreign currency debt, revaluation of foreign currency other assets and liabilities, MTM on FX Narrations and commodity hedges, MTM on unquoted investments, other income (except government grant) as well as exceptional items. This is divided by revenue from - Q2FY26 represents the 3 months period from 1 July 2025 to 30 Sep 2025 operations including grants to arrive at EBITDA margin. - Q1FY27 represents the 3 months period from 1 Apr 2026 to 30 Jun 2026 - Q2FY27 represents the 3 months period from 1 July 2026 to 30 Sep 2026 • Reported EBIT is defined as reported EBITDA plus profits from equity accounted - H1 FY26 represents the 6 months period from 1 Apr 2025 to 30 Sep 2025 investees less depreciation & amortisation. - H1 FY27 represents the 6 months period from 1 Apr 2026 to 30 Sep 2026 • Free cash flow is defined as net cash generated from operating activities less net Accounting Standards cash used in automotive investing activities, including realised profit/ loss on sale of mutual funds and excluding investments in consolidated entities, M&A linked asset • Financials contained in the presentation are as per IndAS purchases and movements in financial investments, and after net finance expenses (including interest on leases) and fees paid. • Reported ROCE (Auto) is analytically derived by dividing the EBIT for the last 12 months by the average of the capital employed (YoY). c Copyright, Confidential, Tata Motors Limited Q2 FY27 – Key highlights Showcased next-generation passenger mobility solutions Showcased next-generation aggregates portfolio at Crowned “Best Truck of the Year” at the Logistics & at Prawaas 5.0, launches new Ultra Prime and Starbus Bauma CONEXPO India 2026 Transport Award 2026 in the UAE Prime range Signed MoU with Drivn to offer innovative leasing and Collaborated with Petronas to pilot a scalable used-oil Partnered with Welspun Renewable Energy Private financing solutions for its electric commercial vehicles recycling model Limited to Develop 86 MW Wind-Solar Hybrid Project c Copyright, Confidential, Tata Motors Limited Corporate actions IVECO UPDATE TIMELINE Regulatory clearances obtained All required regulatory clearances obtained, completing the conditions to launch the Offer Acceptance Period opens 7 September 2026 Offer price increased from €14.10 to €14.40 9 October 2026 In consideration of the slight delay in the completion of the Offer ACCEPTANCE PERIOD IVECO EGM on Offer-related resolutions 7 Sep – 26 Oct 2026 16 October 2026 All offer related resolutions approved at the EGM by the shareholders Acceptance Period closes / Offer expected to close % SHARES TENDERED SO FAR 26 October 2026 35%* Offer Settlement 30 October 2026 Tata Motors to pay offer price for the shares tendered subject to Offer conditions being met *as of 22 October 2026 c Copyright, Confidential, Tata Motors Limited Q2 Wholesales 135K (↑42% YoY) Double digit growth across segments, International business ~ 3x Q2 FY27| Standalone including Joint Operations Tata Cummins | Units in ‘000’s Wholesales | Q2 FY27 135.1 Wholesales | H1 FY27 243.8 108.7 95.0 181.0 135.1K 243.8K ▲ 42% YoY Q2 FY 26 Q1 FY 27 Q2 FY 27 ▲ 35% YoY H1 FY26 H1 FY27 Segment-wise wholesales | Q2 FY27 HCV ILMCV SCV PU CV Passenger International Business 33.8K 20.8K 44.0K 15.4K 21.1K ▲ 41% YoY ▲ 24% YoY ▲ 27% YoY ▲ 31% YoY ▲ 177% YoY 21.1 44.0 38.3 33.8 34.7 18.7 24.0 26.4 16.8 17.1 20.8 11.8 15.4 7.6 8.1 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 Q2 FY 26 Q1 FY 27 Q2 FY 27 H1 FY26: 45.8K H1 FY27: 60.3K H1 FY26: 31.6K H1 FY27: 37.9K H1 FY26: 63.1K H1 FY27: 82.3K H1 FY26: 27.0K H1 FY27: 34.1K H1 FY26: 13.7K H1 FY27: 29.3K ▲ 32% YoY (H1) ▲ 20% YoY (H1) ▲ 30% YoY (H1) ▲ 26% YoY (H1) ▲ 114% YoY (H1) HCV: Heavy Commercial vehicles | ILMCV: Intermediate, Light and Medium Commercial vehicles | SCV PU: Small commercial vehicles & Pickups 5 c Copyright, Confidential, Tata Motors Limited Standalone Financials c Copyright, Confidential, Tata Motors Limited Q2:Revenue ₹23.9K Cr(↑42%), EBITDA ₹2.8K Cr(↑31%),PBT(bei) ₹2.7K Cr(↑51%) Robust revenue growth driving operating leverage, EBITDA margin maintained QoQ despite significant commodity headwinds Q2 FY27 | Standalone including Joint Operations Tata Cummins | IndAS | ₹K Cr Revenue, ₹K Cr EBITDA % PBT (bei), ₹K Cr FCF, ₹K Cr ₹23.9K Cr 23.9 11.7% 12.6% ₹2.7K Cr 2.7 ₹4.6K Cr 14.0% 11.7% 11.7% 19.3 2.1  42% YoY 16.9  90bps YoY12.0%  51% YoY 1.8  ₹2.4K Cr YoY 10.0% 2.2 8.0% 6.0% 1.1 4.0% 2.0% 0.0% Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 EBITDA ₹K Cr 2.1 2.3 2.8 EBIT % EBIT ₹2.3K Cr Net cash Auto ROCE Investment spend 9.7% ₹11.3K Cr 65% ₹0.6K Cr  50bps YoY vs 10.2% Q2FY26 vs ₹7.5K Cr in March’26 vs 68% Q1FY27 vs ₹0.7K Cr Q2FY26 c Copyright, Confidential, Tata Motors Limited Q2 EBIT at 9.7%, PBT (bei) at ₹2.7K Cr Commodity impact largely offset by operating leverage, cost efficiencies and improved realizations Q2 FY27 | Standalone including Joint Operations Tata Cummins |IndAS|₹ Cr D&A and PDE ₹13 Cr Other Income ₹118 Cr Employee cost ₹(88) Cr Finance [Showing first 8,000 characters — download PDF for full document]