General Updates

J L IA\ JINDAL STAINLESS 03rd August, 2026 BSE Limited National Stock Exchange of India Ltd. Corporate Relationship Department, E x c h a n g e P l a z a , 5 t h F l o o r, 1st Floor, New Trading Ring, P l o t n o . C / 1 , G B l o c k Rotunda Building, P J Towers, B a n d r a - K u r l a C o m p l e x , B andra (E), Dalal Street, Fort, Mumbai – 400 001 Mumbai-400051 Ph. 022 - 2272 3121, 2037, 2041, Ph. 022 -2659 8237, 8238, 8347, 8348 Email: corp.relations@bseindia.com Email: cmlist@nse.co.in Security Code No.: 532508 Security Code No. : JSL Sub.: Intimation under Regulation 54 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 - Security Cover Certificate for quarter ended 30th June, 2026 Dear Sir(s), Pursuant to Regulation 54 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular dated 13th August, 2025 bearing reference no. SEBI/HO/DDHS-PoD-1/P/CIR/2025/117, please find enclosed herewith the Security Cover Certificate as provided by M/s. Lodha & Co., LLP, Chartered Accountants, Joint Statutory Auditors of the Company for the quarter ended 30th June, 2026. You are requested to take the above information on record. Thanking You. For Jindal Stainless Limited Navneet Raghuvanshi Head-Legal, Company Secretary & Compliance Officer Encl. as above Jindal Stainless Limited ClN: L26922HR1980PLC010901 Gurugram Office: Stainless Centre, Plot No.-50, Sector - 32. Gurugram - 122001, Haryana, India T: +91 124 449 4100 E: info@j111dalsloinless.com Website: www.Jiridalstainless.com Registered Office: O.P. Jindal Marg, Hisar - 125005, Ha1yana, India Corporate Office: Jindal Centre, 12 Bhikajl Cama Place, New Delhi -110066, India T: +91 011-26188345, 41462000, 61462000 LODHA 12, Bhagat Singh Marg, New Delhi -110 001, India Telephone : 91 11 23710176 / 23710177 / 23364671 / 2414 & (Q E-mail : delhi@lodhaco.com Chartered Accountants The Board of Directors Jindal Stainless Limited OP Jindal Marg, Hisar, Haryana, 125005 Sub: Independent Joint Statutory Auditor's Certificate on Book Value of Assets of the Jindal Stainless Limited contained in the "Statement of Security Cover in respect of Non-Convertible Debentures of the Company as at 30th June 2026" ("the Statement") 1. We, Lodha & Co LLP, Chartered Accountants, joint statutory auditors of Jindal Stainless Limited (CIN: L26922HR1980PLC010901) ('the Company') having registered office at O.P. Jindal Marg, Hisar, Haryana-125005 have issued this certificate in accordance with the terms of our engagement letter dated 24th July 2026 with the Company. The management has requested us to certify book value of Assets of the Company contained in the Statement with respect to the Listed, Rated, Redeemable Non-Convertible Debentures issued and outstanding as at 30th June 2026 as given in note 3 of the statement ("the debentures"). The Statement is prepared by the Company from the unaudited books of account and other relevant records and documents maintained by the Company as at and for the quarter ended 30th June 2026 ("the unaudited books of account") pursuant to requirements of Master Circular no. SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated 16th May 2024 issued by Securities and Exchange Board of India in terms of regulation 54 read with regulation 56(1)(d) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 15(1)(t) of Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 (hereinafter referred together as "the SEBI Regulations"), as amended and Debenture Trust Deed dated 27th September 2022, as amended on 28th June 2024 w.r.t the Debentures of Rs. 99 Crores (the "Debenture Trust Deed"), for the purpose of submission to Stock Exchange(s) and Catalyst Trusteeship Limited, Debenture Trustee of the Non-Convertible debentures (hereinafter referred to as "the Debenture Trustee") issued by the Company and outstanding as at 30th June 2026. The responsibility for compiling / preparation of the information contained in the Statement is of the management of the Company and the same is initialled by us for identification purposes only. Managements' Responsibility for the Statement 2. The preparation of the accompanying Statement is the responsibility of the management of the Company, including the preparation and maintenance of all accounting and other relevant supporting records and documents. This responsibility includes collecting, collating and validating data and presentation thereof. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and presentation of the Statement including preparation and maintenance. 3. The management of the Company is also responsible for providing all the relevant information to the Debenture Trustees, and for complying with all the requirements as stated in SEBI Regulations and as prescribed in the Debenture Trust Deed, as amended (hereinafter referred to as the "Agreement") for maintenance of Security Cover. 4. The Management is also responsible for preparing and furnishing the financial information contained in the said statement which is annexed to this Certificate. I Regd. Office: 19, Esplanade Mansions, 14 Government Place East, Kolkata 700069, West Bengal, India. Lodha & Co (ICAI Reg. No. 301051 E) a Partnership Firm was converted into Lodha & Co LLP (Identification No. ACE-5752) a Limited Liability Partnership with effect from December 27, 2023 Kolkata Mumbai New Delhi Chennai Hyderabad Jaipur Auditor's Responsibility 5. Pursuant to the requirements of Master Circular no. SEBI/HO/DDHS-PoD3/P /CIR/2024/46 dated 16th May 2024 issued by Securities and Exchange Board of India, our responsibility for the purpose of this certificate is to provide a limited assurance on whether the book value of assets of the Company contained in the Statement have been accurately extracted from the unaudited books of accounts of the Company and other relevant records and documents maintained by the Company. This did not include the evaluation of adherence by the Company with terms of the Agreement and the SEBI Regulations. 6. The engagement involves performing procedures to obtain sufficient appropriate evidence to provide limited assurance on the Statement as mentioned in paragraph 1 above. The procedures performed vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. The procedures selected depend on the auditor's judgement, including the assessment of the risk associated with reporting criteria. Accordingly, we have performed the following procedures in relation to the statement: a) Obtained and read the Statement compiled by the management from the unaudited books of accounts. b) Verified that the information contained in the Statement has been accurately extracted from the unaudited books ofaccounts of the Company. c) Verified the arithmetical accuracy of the information included in the Statement. d) Reviewed the terms of the agreement to understand the nature of charge (viz. exclusive charge or pari-passu charge) on assets of the Company. e) Obtained Register of Charges maintained by the Company as per the requirements of the Companies Act, 2013 to understand the composition of charges created on assets of the Company. f) Verified compliance status with respect to financial covenants (as stated in the Debenture Trust Deed) for the quarter ended 30th June 2026. g) Made necessary inquiries with the management and obtained necessary representations in respect of matters relating to the Statement. 7. We conducted our examination of the Statement in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) ("Guid [Showing first 8,000 characters — download PDF for full document]