Tata Motors completes initial settlement of recommended tender offer for Iveco Group

• Tata Motors has completed the initial settlement of its recommended tender offer, acquiring about 89.42% of Iveco Group's common shares, making Iveco part of Tata Motors.

• The acceptance period for the tender offer will reopen for five trading days in early November 2026, with settlement scheduled for mid-November.

• Iveco Group's board and committee compositions have been updated, corporate governance documents amended, and all Special Voting Shares repurchased.

• The disclosure of Iveco Group's Q3 2026 financial results has been brought forward to 3 November 2026 from the previously planned date.

Iveco Group has now become part of Tata Motors, subsequent changes are announced

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With reference to the offer document published on 4 September 2026 (the “Offer Document”), the amendment notice published on 9 October 2026 and the notice published on 27 October 2026 (the “Notice on Final Results”) on the final results of the voluntary tender offer (the “Offer”) promoted by TML CV Holdings Pte. Ltd., through its wholly-owned company TML CV Holdings B.V. (the “Offeror”) for all issued common shares of Iveco Group (“Common Shares”) at a price of EUR 14.4 (cum dividend) per Common Share in cash, Tata Motors Limited (“Tata Motors”) (NSE: TMCV), a global automotive leader, and Iveco Group N.V. (“Iveco Group” or “Iveco”) (EXM: IVG), an international leader in commercial vehicles and mobility, jointly announce completion of settlement of the Common Shares tendered to the Offer during the Acceptance Period as per the Notice on Final Results. Terms not defined in this press release will have the meaning as set forth in the Offer Document.

Following completion on the date hereof of settlement following the Acceptance Period, the Offeror holds No. 238,157,212 Common Shares, equal to approximately 89.42% of Iveco Group's common share capital, net of Treasury Shares. As a result, Iveco Group has become part of Tata Motors.

As announced in the Notice on Final Results, the Acceptance Period of the Offer will be reopened for five Trading Days starting from the Trading Day following the Payment Date, and, therefore, for the sessions on 2, 3, 4, 5 and 6 November 2026 (included), from 8:30 a.m. (CET) to 5:30 p.m. (CET) (the "Reopening of the Terms"). Settlement of the Common Shares tendered to the Offer during the Reopening of the Terms will take place on 13 November 2026. Further information regarding the post-offer steps to be taken in accordance with the Offer Document, including, as applicable, the Voluntary Purchase Procedure, the Dutch Legal Squeeze-Out or the Post-Offer Demerger and Liquidation, will be communicated by the Offeror in due course.

Iveco Group changes resulting from settlement of the Tender Offer following the Acceptance Period

• New Board composition

• New Board Committees compositions

• Amended corporate governance documents in place

• All Special Voting Shares repurchased

• Q3 financials disclosure brought forward to 3 November 2026

As of today, Iveco Group’s Board is composed of the following members:

• N. Chandrasekaran, Non-Executive Director, with the titles “Chairperson” and “Senior Non-Executive Director”;

• Olof Persson, Executive Director, with the title “Chief Executive Officer”;

• P. B. Balaji, Non-Executive Director, with the title “Non-Independent Director A”;

• Girish Wagh, Non-Executive Director, with the title “Non-Independent Director A”;

• Guenter Butschek, Non-Executive Director, with the title “Independent Director B”; and

• Charles Nichols, Non-Executive Director, with the title “Independent Director B”.

In accordance with the amended corporate governance documents of Iveco Group, including Committee charters, available here (Regulations of the Board of Directors) and here (charters of the Board Committees), as of today the Board Committees are composed as follows:

• Audit Committee: Mr. Nichols (acting as the Committee’s chair), Mr. Balaji and Mr. Butschek;

• Compensation Committee: Mr. Butschek (acting as the Committee’s chair), Mr. Balaji and Mr. Nichols;

• ESG Committee: Mr. Wagh (acting as the Committee’s chair) and Mr. Butschek.

Pursuant to the amended terms and conditions of Iveco Group's Special Voting Shares available here and the authorisation granted by the Extraordinary General Meeting on 16 October 2026, as of today all Special Voting Shares outstanding immediately prior to settlement of the Offer have been repurchased for no consideration (om niet), resulting in no Special Voting Shares remaining outstanding.

Finally, the financial results of Iveco Group for the 3rd Quarter 2026 will be released on 3rd November 2026, instead of 5th November 2026, as previously communicated.