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Electrosteel Steels Ltd. Company History and Annual Growth Details

Our Company was originally incorporated as Electrosteel Integrated Limited on December 20, 2006 as a public
limited company. Our Company commenced business on January 5, 2007. Our Company is promoted by
Electrosteel Castings Limited for implementing a 2.2 MTPA integrated steel and D.I. pipe project in Jharkhand,
India. Our Company has entered into arrangements with investors and facility agreements with a consortium of
lenders to finance the project. The name of our Company was changed from Electrosteel Integrated Limited to
Electrosteel Steels Limited. The same was approved by the Board of Directors of our Company on January 11,
2010 and by the shareholders in their meeting dated March 25, 2010. A fresh certificate of incorporation was
granted to our Company on May 5, 2010.

The main reason for the change in the name of our Company was that the new name would convey the business
of our Company in a better manner, which would help our Company enjoy better market reputation and
customers reliance.

Major events in the history of our Company

1.February 12, 2007

Delivery and Marketing Agreement between the Company and Stemcor MESA DMCC

2. February 12, 2007, amended on January 17, 2008, amended further on March 19, 2008 and further amended by January 11, 2009

Subscription Agreement between the Company and Stemcor MESA DMCC


3. May 8, 2007, amended on May 20, 2009 and January 16, 2010

Subscription Agreement between the Company and ECL

4. October 12, 2007

Offshore Supply Agreement between our Company and Stemcor MESA DMCC

5. July 21, 2008

Coking Coal Supply Agreement between our Company and ECL

6. July 21, 2008

Iron-Ore Supply Agreement between our Company and ECL for supply of Iron ore - Lump and Fines

7. June 19 and July 25, 2008

Supply Agreements between our Company and China First Metallurgical Construction Corporation Limited for supply of plant and machinery for our Project


8. January 16, 2009 further amended on January 11, 2010

Subscription Agreement between our Company and PGS Invest Limited

9. February 27, 2009

Subscription Agreement between our Company and Starbridge Finance Limited further amended on January 11, 2010


10. February 27, 2009 further amended on January 11, 2010

Subscription Agreement between our Company and Roundabout Finance Limited


11. June 22, 2009

Share Subscription and Shareholders Agreement between our Company, ECL and IL&FS Financial Services

12. June 22, 2009

Share Subscription and Shareholders Agreement between our Company, ECL, Tara India Holdings Limited, Tara India Fund III Domestic Trust and Tara India Fund III Trust

13. August 20, 2009

Amended and Restated Inter-se Agreement between our Company and the consortium of lenders

14. December 18, 2009

Share Subscription Agreement between our Company and IFCI Limited

15. January 11, 2010

Change of name of our Company from 'Electrosteel Integrated Limited' to 'Electrosteel Steels Limited' as the proposed name would convey the correct business which our Company proposes to undertake.

16. August 17, 2010

Share Subscription Agreement and Shareholders Agreement executed with GPC Mauritius II LLC, a Pre-IPO Investor

17. August 23, 2010 and August 31, 2010

Share Subscription Agreement and Shareholders Agreement executed with Franklin Templeton Asset Management (India) Private Limited, acting on behalf of Franklin Templeton Private Equity Strategy - A/c PMS, a Pre-IPO Investor on such dates, respectively
 
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