Tata Steel : Certificate in respect of issue of Commercial Papers

	G
To	TATA
HDFC Bank
Mumbai
(Issuing and Paying Agent)
Dear Sir/Madam,
Ref No.: CP declaration 4/CY 20		ISi N Code: As per Annexure 1
MV of CP: As per Annexure 1		Units: As per Annexure 1
Maturity date of CP: As per Annexure 1
With reference to the above annexure on Commercial Paper issued by us, it is hereby certified
that:

1. The CP was issued for financing of operating expenses and refinancing of the short-term finance and the CP proceeds are used for the disclosed purposes.
2. The other conditions of the offer document and the CP issuance directions are adhered to. Further, Listing conditions as provided in Annexures 1 to the SEBI Circular No. SEBI/HO/DDHS/CIR/P/2019/115 dated October 22, 2019 are adhered to.
3. The asset classification offund based facilities from banks/ Financial Institutions continues to be "standard".
4. There has been no material change in our financial status which may adversely affect the credit rating of the Commercial Paper.
5. The CPs have not been invested by related parties either in primary or in secondary market as per the list of beneficial owners.
6. The total issuance of CPs during the calendar year up to the quarter ended December 2019 was Rs. 28,350 crores.

For Tata Steel Limite�

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ED and CFO

Date: t= January 2020

Place: Mumbai

TATA mEL LIMITED
One Forbes 6th Floor 1 Or V 8	Gandhi Marg fort Mumb	i 400 001 India
Tel [phone]	OS55 Fu 91 22 6MS OS99
R�istered Office Bombay House 24	Homi Mody Street Fort Mumbai 400 001 India
Tel [phone]	8282 Fu 91 22 666S 7n4
Corporate Identity Number U7100MHl907PLC000260 �te www.mastffl.com