S.A.L. Steel Limited has received Notice of Demand under section 156 of the Income Tax Act, 1961. Name of Authority: Income Tax Department. Details of the violation(s)/contravention(s) committed or alleged to be committed: Demand Notice for an aggregate amount of INR 309,340,150 has been issued upon re- assessment.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: There is no material impact on the financials, no impact on the operations and or other activities of the company due to aforesaid Demand Notices. The Company is evaluating and is in process of taking appropriate actions including filing of appeal before the appropriate authority in due course.