Notes to the company accounts

Notes to the company accounts

1. Financial fixed assets

Tata Steel Nederland participates as the central treasury entity in a cash pooling arrangement. Balances arising from the cash pool are presented as loans to own group companies.

The maturity of the Loans to own group companies is as follows:

The average interest rate is 6.1% (2025: 4.9%).

2. Deferred tax assets

TSN has an intercompany corporate income tax receivable from the head of the Dutch fiscal unity Tata Steel Netherlands Holding B.V.

3. Other non-current assets

The non-current derivative financial instruments consist of emission rights contracts.

4. Receivables

Tata Steel Nederland participates as the central treasury entity in a cash pooling arrangement. At the reporting date cash pool receivables of €259 million (2025: €268 million) are included within receivables from subsidiaries. The cashpool arrangements with TSN group companies bear interest rates based on EURIBOR or official local rates.

All receivables fall due within one year.

Derivative financial instruments comprise forward foreign currency contracts and emission rights contracts.

5. Cash and short-term deposits

The cash balances disclosed above and in the statement of cash flows are not subject to regulatory restrictions and are therefore available for use.

6. Borrowings

Tata Steel Nederland participates as the central treasury entity in a cash pooling arrangement. Balances arising from the cash pool are presented as borrowings from subsidiaries. The borrowings from TSN group companies bear interest rates based on EURIBOR or official local rates. These rates are fixed for periods up to six months.

7. Other payables

Derivative financial instruments comprise forward foreign currency contracts and emission rights contracts.

8. Other non-current liabilities

The non-current derivative financial instruments consist of forward purchase contracts for carbon emission rights.

9. Non-current borrowings

Bank loans consist of the revolving credit facility. The average interest rate during the year is 3,529%. Maturity date May 2027.

10. Capital and reserves

The authorised share capital of the Company on 31 March 2026 amounts to €1.300.000.000 (31 March 2025: €1.300.000.000) and consists of 130.000.000 Ordinary shares of €10.00 each of which 38.760.710 Ordinary shares were issued and fully paid up. All the outstanding Ordinary shares were held by TSNH.

11. Commitments and contingent liabilities

The amount outstanding relates to bank guarantees, guarantees for lease obligations and other obligations of subsidiaries. No contingent liabilities are outstanding per 31 March 2026.

Tata Steel Nederland BV has provided a declaration of liability, as referred to in Article 403, Book 2, of the Dutch Civil Code, for the debts of its subsidiaries Tata Steel Nederland Technology BV and Tata Steel Nederland Services BV.

Since 1 January 2008 Tata Steel Nederland BV and its Dutch subsidiaries are part of the fiscal unity for corporate income tax purposes “Tata Steel Netherlands Holdings BV”, which is the ultimate parent of Tata Steel’s Dutch corporate income tax group (fiscal unity). Within the fiscal unity for VAT purposes, Tata Steel Nederland BV is the entity liable for VAT.

Under the Dutch Collection of State Taxes Act, Tata Steel Netherlands Holdings BV (corporate income tax fiscal unity) and Tata Steel Nederland BV (VAT fiscal unity), together with the other entities within these fiscal unities, are jointly and severally liable for taxes payable by the respective fiscal unities. For corporate income tax subsidiaries settle their tax positions within the fiscal unity as if they were separate taxpayers, based on their respective taxable results. For VAT purposes, the fiscal unity is treated as a single taxable person, with VAT accounted for centrally by the entity liable for VAT.

The Company has provided a letter of support to:

• Tata Steel Germany GmbH to enable this company to continue its operations under normal conditions until the date of the approbation by the shareholder of the financial statements for the year ending 31 March 2028. This confirmation is made in relation with the going concern assumption used in preparing the statutory financial statements for the twelve month period which ended on 31 March 2026.

• Tata Steel Nederland Tubes BV to provide adequate resources to enable this company to continue its operations under normal conditions until at least 1 April 2027. This confirmation is made in relation with the going concern assumption used in preparing the statutory financial statements for the twelve month period which ended on 31 March 2025.

12. Audit fees

The fees listed above relate to the procedures applied to the company and its consolidated group entities by accounting firms and external independent auditors as referred to in article 1(1) of the Dutch Accounting Firms Oversight Act (Dutch acronym: Wta) as well as by Dutch and foreign-based accounting firms, including their tax services and advisory groups.

These fees relate to the audit of the 2025/26 financial statements, regardless of whether the work was performed during the financial year

Other audit procedures comprise review procedures performed as part of the Tata Steel Limited Group’s quarterly reporting cycle, insofar as they relate to Tata Steel IJmuiden B.V.

13. Other

No employees are employed by the Company, unchanged from the previous reporting period.