Outcome of Board Meeting

July 15, 2026 To To National Stock Exchange of India Ltd BSE Limited Exchange Plaza, 5th Floor, C-1, Block G, 1st Floor, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E), Mumbai 400051 Dalal Street Mumbai – 400001 NSE Symbol: ATHERENERG Scrip Code: 544397 Sub: Outcome of the Board Meeting held on July 15, 2026 Ref: Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) Dear Sir/Madam, In continuation to our prior intimation dated July 12, 2026 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we hereby inform you that the Board of Directors of the Company (the “Board”), at its meeting held today, i.e. on July 15, 2026, has inter alia, considered and approved the following matters: A. Raising of funds aggregating up to INR 1,200 Crores (Indian Rupees Twelve Hundred Crores only) through the issuance of: (i) 16,26,016 fully paid up equity shares having face value of INR 1 each (“Equity Shares”), at an Issue price of INR 1,230 each (including a premium of INR 1,229 each), to India-Japan Fund, an category II AIF, qualified institutional buyer (QIB), and existing Investor in the Company; and (ii) 79,36,507 convertible warrants (each convertible into 1 (one) Equity Share of the Company having face value of INR 1 each of the Company), at an issue price of INR 1,260 per warrant (including a premium of INR 1,259 per Warrant), to Hero MotoCorp Limited (“HMC”), Mr. Tarun Sanjay Mehta and Mr. Swapnil Babanlal Jain, each of whom is a promoter of the Company; in each case, on a preferential basis, on such terms and conditions as approved by the Board, subject to such regulatory/statutory approvals as may be required and the approval of shareholders of the Company (“Preferential Issue”), in accordance with the provisions of the Companies Act, 2013, the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”), SEBI Listing Regulations, and other applicable laws (including any statutory modification(s) or re-enactment thereof for the time being in force), in the manner set out below: No. Name of the Details of the Category Aggregate No. of securities Proposed Proposed Subscription Allottee Allottee (address, Amount country of incorporation / residency) 1. India-Japan Address: Non- INR 16,26,016 Equity shares Fund (“IJF”), Hindustan Times Promoter, QIB 1,99,99,99,680 represented House, 3rd Floor, by and acting 18-20, Kasturba through its Gandhi Marg, investment New Delhi-110 manager, 001 National Investment Country of and Incorporation: Infrastructure India Fund Limited 2. Hero Address: The Promoter INR 76,19,047 Warrants MotoCorp Grand Plaza, plot 9,59,99,99,220 Limited No. 2 Nelson Mandela Road, Vasant Kunj – Phase -II, New Delhi – 110070 Country of incorporation: India 3. Mr. Tarun Address: Flat A, Promoter INR 1,58,730 Warrants Sanjay Mehta 603 Mantri 19,99,99,800 Sarovar, Opp Agara Lake, HSR Layout , Bangalore – 560102 Country of Residency: India 4. Mr. Swapnil Address: Huron Promoter INR 1,58,730 Warrants Babanlal Jain H-1302, SNN Raj 19,99,99,800 Lakeview, Phase 2, Ranka Colony Road, Munivenkatappa Layout, Ranka Colony Bangalore South, Mico Layout, Bangalore, Karnataka 560076 India Country of Residency: India The Relevant Date in terms of the SEBI ICDR Regulations in relation to the Preferential Issue is July 15, 2026. The details in relation to the Preferential Issue as required under Schedule Ill Part A of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are provided in the Annexure to this letter. B. The Extra-Ordinary General Meeting (EGM) for seeking approval of members for the aforesaid matter specified in para (A), vide a special resolution. The EGM Notice with more details shall be submitted to the Stock Exchanges in due course in compliance with the provisions of the SEBI Listing Regulations. Further, as intimated by the Company vide its letter dated June 30, 2026, the Trading Window for dealing in securities of the Company will continue to remain closed for Designated Persons and their immediate relatives and shall re-open thereafter, in terms of the Company's Code of Conduct for Regulating, Monitoring and Reporting of Trading by Insiders. We request you to kindly take this on record, and the same be treated as compliance under Regulation 30 and other applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The Board Meeting commenced at 8.00 A.M. (IST) and concluded at 2.00 P.M. (IST). Kindly take the above information on record. Thank you For Ather Energy Limited Puja Aggarwal Company Secretary & Compliance Officer Membership No: A49310 Information as required under Regulation 30 – Part A Schedule III of SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, is provided below: Sno Particulars Details 1 Type of securities proposed to be Equity shares having face value of INR 1 each (“Equity Shares”) and issued (viz., equity shares, fully convertible warrants (each warrant convertible into 1 (one) convertibles, etc. Equity Share of the Company having face value of INR 1 (Rupees One) each) (“Warrants”). 2 Type of issuance (further public Issuance of Equity Shares and Warrants by way of a preferential issue, offering, rights issue, depository on a private placement basis, in accordance with the provisions of receipts (ADR / GDR), qualified Chapter V of the Securities and Exchange Board of India (Issue of institutions placement, Capital and Disclosure Requirements) Regulations, 2018 (“ICDR preferential allotment etc.) Regulations”), and Sections 42 and 62 of the Companies Act, 2013 and the rules thereunder and other applicable laws, subject to approval of the shareholders and other statutory / regulatory approvals, as applicable. 3 Total number of securities (i) Up to 16,26,016 fully-paid up Equity Shares of face value of INR proposed to be issued or the 1 each, at an issue price of INR 1,230 each (including a premium total amount for which the of INR 1,229 each (“Equity Issue Price”), aggregating to an securities will be issued amount of INR 1,99.99 crores; and (approximately) (ii) Up to 79,36,507 Warrants , at an issue price of INR 1,260 per Warrant (“Warrant Issue Price”) (including a premium of INR 1,259 per Warrant) , aggregating to an amount up to INR 999.99 crores. Each Warrant will carry a right exercisable by the Warrant holder to subscribe to 1 (one) Equity Share having face value of INR 1 each. 4 In case of preferential issue the i. Name of the investors:- listed entity shall disclose the following additional details to the (a) Equity Shares stock exchange(s): i. names of the investors; India Japan Fund (“IJF”), represented by and acting through its ii. post allotment of securities - investment manager, National Investment and Infrastructure Fund outcome of the subscription, Limited issue price / allotted price (in case of convertibles), number (b) Warrants of investors; iii. in case of convertibles - I) Hero MotoCorp Limited; intimation on conversion of II) Mr. Tarun Sanjay Mehta; and III) Mr. Swapnil Babanlal Jain securities or on lapse of the tenure of the instrument. (collectively, the “Proposed Allottees”) ii. Post allotment of securities: A. Number of investors: 4 (four) subscribers, namely, India-Japan Fund (represented by and acting through its investment manager, National Investment and Infrastructure Fund Limited), Hero MotoCorp Limited, Mr. Tarun Sanjay Mehta and Mr. Swapnil Babanlal Jain B. Outcome of the subscription: Please refer to the table below: Name of Pre-preferential Post-preferential issue* investor issue (as on July 10, (as on July 10, 2026 2026 based on full [Showing first 8,000 characters — download PDF for full document]