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Tata Steel Limited November 13, 2020 The Secretary, Listing Department The Manager, Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 001. Mumbai - 400 051. Maharashtra, India. Maharashtra, India. Scrip Code: 500470/890144 Symbol: TATASTEEL/TATASTLPP Dear Madam, Sirs, Sub: Submission of Presentation made to Analysts/Investors Please find enclosed herewith the presentation made to Analysts/Investors on the audited Standalone and unaudited Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2020. This information is being submitted in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015. This is for your information and records. Yours faithfully, Tata Steel Limited Parvatheesam Kanchinadham Company Secretary & Chief Legal Officer (Corporate & Compliance) Encl: As above Registered Office Bombay House 24 Homi Mody Street Fort Mumbai 400 001 India Tel 91 22 6665 8282 Fax 91 22 6665 7724 Website www.tatasteel.com Corporate Identity Number L27100MH1907PLC000260 Results Presentation Financial quarter and half year ended September 30, 2020 November 13, 2020 1 Safe harbor Statements in this presentation describing the Company’s performance may statement be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/or other incidental factors 2 Committed towards excellence in Safety, Health & Sustainability Safety Health Sustainability ▪ Trained >43,500 employees on ▪ Conducted >96,500 COVID health ▪ Achieved first time ever (i) <2 m3/tcs Standard Operating Guidelines for screening till date of employees and fresh water consumption at TSJ; and (ii) carrying out operations following contract workforce for early Stack Dust Emission at TSJ and TSK of COVID-19 outbreak detection of high risk cases 0.28kg/tcs and 0.35kg/tcs, respectively LTIFR reduction by ~18% 0.95 0.78 0.78 0.69 0.68 0.60 0.58 0.56 0.47 0.46 0.44 0.39 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H21 LTIFR: Lost Time Injury Frequency Rate per million man hours worked, for Tata Steel Group ; TSJ: Tata Steel Jamshedpur; TSK: Tata Steel Kalinganagar 3 Improving quality of life of our communities Spent >Rs.1,000 crores on CSR (TSL Standalone over last 5 years) Education Health 315 ▪ Maternal and New-born Survival 232 ▪ 30 Model schools: 4 new schools 204 194 193 Initiative (MANSI): 22,075 pregnant handed over to the Government of Odisha 132 women, mothers and children reached; ▪ Lockdown Learning Model: 34,400 successfully tracking high risk cases children provided with academic support digitally amidst the COVID-19 through both digital and physical means pandemic FY16 FY17 FY18 FY19 FY20 1HFY21 ▪ Primary Healthcare Services: About 25,000 people benefitted Livelihood ▪ Promotion of ‘Systematic Rice Intensification’ and ‘Dry Land Farming’: Fighting COVID 15,000 farmers covered ▪ Stitch In Time: >1 Lac masks ▪ Agri-allied interventions: ~3,500 farmers produced; 194 household engaged taken up fishery, poultry, dairy, etc. ▪ Digital Bridges: >1.6 Lac people ▪ Nutrition programme: 664 kitchen reached through Mobile Medical Units gardens established and Teleconsultations ▪ Model Career Centre: 371 students ▪ From The Farm: >16,000 kg of supported with placement services vegetables distributed 4 Global macro environment Global Manufacturing PMIs China – major activity indicators (%YoYΔ) ▪ Global economic activity recovered on unprecedented policy support and eased mobility restrictions; Chinese 60 30% economic activity indicators remained strong 50 0% 40 -30% Rebar Shipment Cement Shipment ▪ China’s strong domestic steel demand continue to Global EU Auto Sales 30 UK India -60% Property Sales drive higher production, lower net exports and increase China Electricity Production 20 -90% Subway Passenger Volume in steel prices Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Oct-18 Apr-19 Oct-19 Apr-20 Sep-20 Steel Production, demand and China net ▪ World-ex China steel production also improved but exports (mn tons) Global HRC prices ($/t) remained below pre-COVID levels China net exports (RHS) Korea export FOB China-Domestic World ex-China Steel Production China-Exports FOB Germany Domestic China Steel Production 675 100 China Apperant Steel demand 6 ▪ Global Iron ore prices remain elevated supported by 575 sustained Chinese demand and supply side 80 4 constraints; coking coal prices also moved up in 60 2 475 Sep’20, however, eased off on Chinese import 40 0 375 restriction Oct-18 Apr-19 Oct-19 Apr-20 Sep-20 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Spot HRC spreads ($/t) Key raw material prices ($/t) ▪ Regional gross spot spreads improved from an Iron Ore-62% Fe, China CFR China -Spot spread EU Spreads Premium HCC, China CFR unsustainable level, driven by recovery in steel prices 350 225 300 150 ▪ Economic recovery remains exposed to further COVID- 250 75 19 outbreaks with rising new cases and mobility 200 restrictions in certain economies 150 0 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Sources: World Steel Association, IMF, Bloomberg, Steelmint, Morgan Stanley and Tata Steel Note: China HRC spot spreads = China HRC exports FOB – (1.65x Iron Ore Fe 62% China CFR+ 0.7x Premium Hard Coking Coal China CFR); EU HRC spot spreads = 1t HRC (Germany) - 1.6t iron ore (fines 65%, China spot, R’dam) - 0.7t premium hard coking coal (Australia spot, R’dam) - 0.1t scrap (HMS, R’dam) 5 Business environment in India and Europe India: India key economic growth indicators* India steel volumes (mn tons) Capital Goods Consumer Durables Exports (RHS) Crude Steel Production ▪ Recovery in Indian economy gathered pace with Finished steel demand Infra./const. goods Automotive 10 1.8 resumption of economic activities amid phased Railways Consumer Sentiment 150 relaxation in lockdown measures and anticipation of 8 1.5 festive demand 1.2 100 6 ▪ While overall 2QFY21 apparent steel consumption 0.9 declined 10.1%YoY to 23.6 mn tons in, it recovered in 4 50 0.6 Aug ‘20 and Sept ’20 to 96% of FY20 monthly average 2 0.3 0 0 0.0 Europe: Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Oct-18 Apr-19 Oct-19 Apr-20 Sep-20 ▪ COVID-19 pandemic continued to weigh on European economy with steel-consuming sectors being affected, EU key steel consuming sectors particularly automotive. Industrial activity started (monthly, YoY % change) EU market supply rebounding after the restriction measures were largely 20% Imports (mn tons) EU deliveries (mn tons) lifted Imports share (%, RHS) 16 30% ▪ Despite fall in imports, share of steel imports to total 0% consumption in EU remained elevated; moving to -20% country specific quotas with quarterly administration is a 12 20% key positive for the EU steel industry -40% -60% 8 10% ▪ Steel price increases on the back of demand recovery Construction, Output -80% drove EU spot spreads upwards despite the jump in Mechanical engineering, Output Production of cars (units) Iron ore prices -100% 4 0% Oct-18 Apr-19 Oct-19 Apr-20 Aug-20 Oct-18 Apr-19 Oct-19 Apr-20 Aug-20 Source: Bloomberg, SIAM, Joint Plant Committee, MOSPI, CMIE, Eurofer, Eurostat and Tata Steel *Figures of Industrial Production for Capital Goods, Infrastructure/Construction and railways are rebased to Oct'18=100 using FY12 index based sector weights; number of units produced as per SIAM 6 and India consumer sentiment index is rebased to Oct'18=100 Recalibration in a post COVID world Engaged with UK and EU Managing risks at physical assets governments to seek support and across the supply chain Using technology to Agility in Indian operations back to drive efficiency the face of pre-COVID level adversity Drive on cost savings and Pivoting business decisions squeeze on capex on cash 7 Key performance highlights and updates Performance Highlights India re-organization Sustainable solution for TSE ▪ Achieved best ever quarterly ▪ Moving ahead with reorganization ▪ In discussions with SSAB, Sweden volumes in India, registering growth to drive scale, synergies and regarding a potential acquisition of Tata both on QoQ and YoY basis simplification, and to create Steel’s Netherlands business stakeholders’ value ▪ Superior business model drives ▪ Commenced discussions with the broad based growth, including ▪ Folding listed and unlisted Supervisory Board and Board of downstream portfolio subsidiaries and JVs into 4 Management of Tata Steel Netherlands; business verticals viz. Long process will subsequently move to the ▪ Free cash flow generation of products, Downstream, Mining and next stage including due diligence and Rs.8,510 crores in 1HFY21 Utilities & Infrastructure stakeholders consultations ▪ Net debt reduced by Rs.8,285 ▪ Merger of Tata Metaliks and Indian ▪ Tata Steel to continue to own and crores in 1HFY21; now below Steel & Wire Products into Tata operate the UK business; in discussion Mar’19 levels Steel Long Products approved with the UK government to make the business sustainable and self-sufficient 8 Consolidated
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