Hindustan Zinc Limited announced it has received an Order from the Office of the Commissioner, Udaipur, demanding the following under the relevant provisions of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017) pertaining to levy of GST on statutory levies like DMF/NMET contribution to the state exchequer. GST amounting to INR 919,016,104. Equivalent amount of penalty and applicable interest.

Name of the Authority: Additional Commissioner, Central Excise and CGST Commissionerate, Udaipur. Date of receipt of direction or order, including any ad- interim or interim orders, or any other communication from the authority: Order No. 28/GST/UDR/2023-24 dated March 20, 2024 received by the Company on March 21, 2024.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: This is an industry wide interpretation issue wherein larger question whether Royalty is a Tax or not is pending for decision by the Supreme Court. Therefore, considering the merits of the case, the Company intends to file Writ Petition before the High Court. Also, in identical matter for the past year, the Company had received an interim stay order from the hon'ble Rajasthan High Court against demand order.

Thus, the Company does not expect the said Order to have any material financial impact on the Company.