Intimation Of Raising External Commercial Borrowing ('ECB') By Tata Motors Limited ('Company')

• Security Code: 500570
• Company: TATAMOTORS

This is with further reference to our letter Ref. No. Sc 15053 dated June 1, 2018 intimating regarding a tender offer in respect of U.S. $500,000,000 4.625 per cent Senior Notes due 2020 ('Notes'), inviting holders of the Notes ('Noteholders') to offer to sell for cash to the Company the Notes held by the Noteholders ('Tender Offer'). To refinance a part of the principal amount, the Company proposes to raise ECB up to U.S.$250,000,000 from Lenders up to a maximum of U.S.$500,000,000 in accordance with the Master Direction - External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers dated January 1, 2016 (as amended, replaced and modified from time to time) (collectively, the 'ECB Master Directions') issued by the Reserve Bank of India.

The key terms and conditions of the facility agreement ('Facility Agreement') dated June 6, 2018 entered into for the purposes of the ECB is enclosed herewith.