Date: May 26, 2026

Dividend Declaration

The Board of Directors, at its meeting held on May 12, 2026, recommended a final dividend of ₹2.50 per Equity Share of ₹1 each (250%) for the financial year ended March 31, 2026. This is subject to the approval of shareholders at the forthcoming 107th Annual General Meeting (AGM).

Key Dates

  • AGM Date: Tuesday, July 7, 2026
  • Record Date: Tuesday, June 23, 2026
  • Dividend Payout Date: Friday, July 10, 2026
  • Last Date for Tax Document Submission: Monday, June 22, 2026

Tax Deduction at Source (TDS) Procedures

The communication serves as an intimation of the TDS procedures to be followed on the dividend, as mandated by the Income Tax Act, 2025. Shareholders are requested to ensure their bank account details in their demat accounts/physical folios are updated for timely credit.

For Resident Shareholders

  • TDS is generally deducted at 10% if a valid, Aadhaar-linked PAN is registered.
  • TDS is deducted at 20% for no PAN, invalid PAN, or PAN not linked with Aadhaar.
  • Resident Individuals: No TDS if the total dividend for Tax Year (TY) 2026-27 does not exceed ₹10,000, or if a valid Form 121 is submitted (required for holdings exceeding 4,000 shares).
  • Resident Non-Individuals (e.g., Insurance Companies, Mutual Funds, AIFs, NPS Trust): Must submit specific self-declarations and documentary evidence (PAN, registration certificates) for Nil/NIL withholding.
  • Lower/Nil withholding is possible upon submission of a certificate under Section 395(1) of the Act.

For Non-Resident Shareholders

  • Domestic Law: TDS is withheld at 20% (plus applicable surcharge and cess).
  • DTAA Benefit: To avail beneficial treaty rates, non-residents must submit:
  • Self-attested PAN copy
  • Valid Tax Residency Certificate (TRC) for 2026/2026-27
  • Form 41 for TY 2026-27
  • A Non-Resident Tax Declaration form
  • SEBI registration certificate (for FIIs/FPIs)
  • Additional documentation for Singapore tax residents
  • GDR Holders: TDS at 10% (with PAN) or 20% (without PAN), plus applicable surcharge and cess.

Other Key TDS Provisions

  • PAN must be linked with Aadhaar per Section 262 to avoid a 20% TDS rate.
  • Declaration under Rule 203 of the Income-Tax Rules, 2026 is required if dividend income is assessable in the hands of a person other than the deductee.
  • For shareholders with multiple accounts under a single PAN, the highest applicable tax rate will be applied to the entire holding.

Submission Process

All tax-related documents (Form 121, declarations, etc.) must be uploaded via the designated link (<https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html>) or emailed to the specified addresses (Csg2exemptforms2627@in.mpms.mufg.com for residents, dividend@tatapower.com for non-residents) on or before Monday, June 22, 2026. Documents submitted after this cut-off may not be considered.

Tax credit can be viewed in Form 168 on the TRACES portal (<https://www.tdscpc.gov.in>) or the Income Tax e-filing website (<https://www.incometax.gov.in>).

The company included a disclaimer stating this communication is not tax advice and shareholders should consult a tax professional.