This is to inform that, TRF Limited in 2020, had on merits, appealed before the Appellate Authority, Patna, Bihar, against the Assessment Order dated March 23, 2020 passed by the Assistant Commissioner of State Tax, Office of the Joint Commissioner, Barh Circle, Barh, Bihar (`Assessing Officer or AO') with respect to the Company's tax liability for financial year 2013-14. The said appeal was allowed, and the matter was remanded back to the Assessing Officer for re-assessment of Company's tax liability. After re-assessing the tax liability of the Company, the Deputy Commissioner of State Tax, Office of the Joint Commissioner, Barh Circle, Barh, Bihar (`Dy.

Commissioner') has passed a Modified Order dated May 10, 2024 against the Company, demanding tax and interest aggregating to INR 18.167 million and imposing a penalty of INR 19.631 million. The Company received the Modified Order on May 11, 2024. Based on the Management's assessment, prevailing regulations and basis advice from legal counsels in the present tax matter, the Company has decided to appeal against the Modified Order of the Dy.

Commissioner before the appropriate authority, on merits. The Company is hopeful of a favourable outcome and does not reasonably expect the same to have any material impact on the financial position of the Company. The Management was reviewing the said Modified Order and assessing the disclosure obligations.

Hence, this disclosure is being made on even date.