Credit Rating- Revision

Steel Limited Regd. Office: JSW Centre, Bandra – Kurla Complex, Bandra East, Mumbai – 400 051 CIN : L27102MH1994PLC152925 Phone : +91 22 4286 1000 Fax : +91 22 4286 3000 Website : www.jsw.in JSWSL: MUM: SEC: SE: 2026-27/07/27 July 30, 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 Sub: ICRA Limited upgrades JSW Steel Limited’s Long-Term Credit Rating to [ICRA] AA+, Outlook Stable Dear Sir/Madam(s), Pursuant to Regulation 30(6) and 51(2) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 (“Listing Regulations 2015”), we wish to inform you that ICRA Limited, vide its Release dated July 30 2026, has upgraded JSW Steel Limited’s Long-Term credit rating to [ICRA]AA+; stable outlook. Please find below the details of the rating action. Name of Credit Type of Credit Existing Rating Rating Action/ the Rating Rating Revised Rating Company Agency JSW Steel ICRA Long-Term Fund [ICRA] ‘AA’ Upgraded to Limited Limited Based Term Rating watch with [ICRA] ‘AA+’ Stable Loans/ Standby positive Letter of Credit implications Facilities Long-Term/ Long-Term rating Long-Term rating Short-Term - was [ICRA] ‘AA’ Upgraded to [ICRA] Fund Based / Rating watch with ‘AA+’ Stable and Non-Fund Based positive Short-Term rating implications / reaffirmed at Short Term rating [ICRA] A1+ was [ICRA] A1+ Short-Term Fund [ICRA] A1+ Reaffirmed at Based / Non- [ICRA] A1+ Fund Based Facilities Non- Convertible [ICRA] ‘AA’ Upgraded to Debentures Rating watch with [ICRA] ‘AA+’ Stable positive implications Commercial [ICRA] A1+ Reaffirmed at Paper [ICRA] A1+ Steel Limited Regd. Office: JSW Centre, Bandra – Kurla Complex, Bandra East, Mumbai – 400 051 CIN : L27102MH1994PLC152925 Phone : +91 22 4286 1000 Fax : +91 22 4286 3000 Website : www.jsw.in Further as per Regulation 55 of the Listing Regulations 2015 read with SEBI Master Circular SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2025/0000000103 dated July 11, 2025 as amended, please find below the details of the upgraded credit rating by ICRA Limited in respect of the Non-Convertible Debentures issued by the Company: Sl. ISIN Name Credit Outlook Rating Specify Date No. of the Rating (Stable/ Action other of Credit assigned Positive/ (New/ rating credit Rating Negative/ Upgrade/ action rating Agency No Downgrade/ Outlook) Re-Affirm/ Other) 1 INE019A07415 2 INE019A07423 ICRA [ICRA] Stable Upgrade NA July 3 INE019A08058 Limited ‘AA+’ 30, 4 INE019A07464 Stable 2026 5 INE019A07456 A copy of the Release issued by ICRA Limited covering the rationale for rating action is enclosed herewith. This is for your information and records. Yours faithfully, For JSW STEEL LIMITED Manoj Prasad Singh Company Secretary (In the Interim Capacity) Enclosed: as above