News Verification

OLA ELECTRIC MOBILITY LIMITED CIN - L74999KA2017PLC099619 (Formerly known as Ola Electric Mobility Private Limited) July 8, 2026 National Stock Exchange of India Limited Address: Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai-400051, Maharashtra, India. NSE Scrip Symbol: OLAELEC Subject: Clarification / Confirmation on news item appearing in Media/Publication. Reference: The news article captioned “Ola Electric Shares Slip 5% Amid Reports of Two Suppliers Moving NCLT Over Dues” dated July 7, 2026, published in mainstream media. Dear Sir/ Madam, This is with reference to your email dated July 7, 2026 seeking clarification on the captioned media report received by Ola Electric Mobility Limited ("the Company"). In this regard, set forth below is our response. Sr. Clarification Sought Company Response 1 Whether such negotiations/events were With reference to the captioned media report and taking place? If so, you are advised to pursuant to Regulation 30 of the SEBI (Listing provide the said information along with Obligations and Disclosure Requirements) the sequence of events in chronological Regulations, 2015 ("SEBI LODR Regulations"), the order from the start of Company submits the following clarification: negotiations/events till date. The Company had raised warranty and performance- related concerns regarding certain parts supplied by Anevolve Mando E-Mobility Private Limited and Sterling E-Mobility Solutions Private Limited, which remained unresolved. Accordingly, the Company initiated arbitration proceedings against the said vendors and filed petitions under Section 9 of the Arbitration and Conciliation Act, 1996 before the Commercial Court, Bengaluru, seeking interim relief pending constitution of the arbitral tribunals. Subsequent to the initiation of the aforesaid arbitration proceedings, Anevolve Mando E-Mobility Private Limited and Sterling E-Mobility Solutions Private Limited filed petitions under Section 9 of the Insolvency and Bankruptcy Code, 2016 in relation to the same underlying transactions. The Company is of the view that the disputes raised by the aforesaid vendors are subject to genuine pre- existing disputes, which are pending adjudication through arbitration. Accordingly, the Company is contesting the aforesaid petitions and taking all OLA ELECTRIC MOBILITY LIMITED CIN - L74999KA2017PLC099619 (Formerly known as Ola Electric Mobility Private Limited) appropriate legal steps in accordance with applicable law. The Company remains committed to compliance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Any material event or development in relation to the aforesaid matter, if and when required, shall be appropriately disclosed to the Stock Exchanges in accordance with applicable laws and regulatory requirements. 2 Whether you/company are aware of any We submit that the Company is not aware of any information that has not been announced information that has not been announced to the Stock to the Exchanges which could explain the Exchanges which could explain the movement in the movement in the trading, if any? Further, trading of the equity shares of the Company. Further, you are advised to provide the said all material events and information required to be information and the reasons for not disclosed under the SEBI (Listing Obligations and disclosing the same to the Exchange Disclosure Requirements) Regulations, 2015 have earlier as required under regulation 30 of been duly disclosed to the Stock Exchanges. the SEBI (LODR) Regulations, 2015. 3 The material impact of this article on the We submit that the publication of the aforesaid media Company. report does not have any material impact on the business, operations or financial position of the Company. We trust the above clarifies the matter. We kindly request you to take the above clarification on your record. The Company remains committed to maintaining the highest standards of corporate governance and regulatory compliance and will continue to make disclosures, as and when required, in accordance with applicable laws and regulations. The above intimation will also be hosted on the website of the Company i.e., www.olaelectric.com. We request you to take the above on your record. Thanking You For Ola Electric Mobility Limited Abhishek Jain Company Secretary and Compliance Officer Membership No.: A62027 Place: Bengaluru