JSW Steel Limited (JSWSTEEL) — Board Meeting | 17 September 2025(2 announcements)

JSW Steel's board approved acquisition of additional economic interest in M Res NSW HCC Pty Ltd for US$ 60 million through its subsidiary JSW Steel (Netherlands) B.V. The deal involves purchasing US$ 24 million in non-voting Class B shares and subscribing US$ 36 million for new shares, increasing JSW's economic stake to 83.33% from 66.67%. This indirectly raises JSW's effective interest in Illawarra Metallurgical Coal to 30% from 20%, securing proportional offtake rights. Australian FIRB approval has been obtained; closing expected in Q3FY26. An additional US$ 75 million deferred investment obligation to South32 exists for 2030.

JSW Steel's board approved acquisition of additional 66.67% economic interest in M Res NSW HCC Pty Ltd for USD 60 million, increasing JSW's total stake to 83.33%. This raises JSW's effective ownership in Illawarra Metallurgical Coal from 20% to 30%, securing increased coking coal offtake rights (30% versus prior 20%). The transaction strengthens raw material security through the Appin and Dendrobium mines (~95 million tons reserves). Future deferred payment obligation increases to USD 75 million by 2030.