REC LIMITED — Capital/Financing Update 2020

May 13, 2020

SEC-1/187(2)/2020/122

Dated: May 13, 2020

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Listing Department, Corporate Relationship Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, 1[st] Floor, Phiroze Jeejeebhoy Towers Bandra (East), Dalal Street, Fort, Mumbai - 400 051. Mumbai - 400001. Scrip Code-RECLTD Scrip Code- 532955

Sub: - Issue of US$ 500 Million 4.75 per cent Notes by REC Limited.

Dear Sir/Madam,

In compliance with provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that REC Limited has issued US$ 500,000,000, 4.75 per cent Notes due 2023, on May 12, 2020. The Notes will mature on May 19, 2023 and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be May 19, 2020.

The Notes represent direct, unconditional and unsecured obligations of the Issuer and will rank pari passu among themselves and all other unsecured obligations of the Issuer. The Notes will be listed on London Stock Exchange’s International Securities Market (ISM), Singapore Exchange (SGX-ST), India International Exchange (India INX) and NSE IFSC. The net proceeds from the sale of the Notes will be applied for lending to Power Sector.

This is for information and records of the Stock Exchanges.

Thanking you,

Yours faithfully,

Sd/(J.S. Amitabh) Executive Director and Company Secretary