Updates

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 Dear Sir/ Madam, Sub: Submission of Audited Financial Statements for the Financial Year ended March 31, 2026 Dear Sir/ Madam, We wish to inform you that the Board of Directors of Ather Energy Limited (“the Company”) at its meeting held on May 04, 2026, has approved the audited financial statements of the Company for the financial year ended March 31, 2026, together with the notes and schedules thereto and the audit report thereon, including the comparative figures for the financial year ended March 31, 2025, prepared in accordance with the applicable provisions of the Companies Act, 2013 and the applicable accounting standards. A copy of the audited financial statements along with the audit report thereon is enclosed herewith for your records. Please note that the audited financial statements of the Company for the financial year ended March 31, 2026, together with the notes and schedules thereto and the audit report thereon, are subject to adoption by the shareholders of the Company at the ensuing Annual General Meeting. The above intimation will also be hosted on the website of the Company i.e., https://www.atherenergy.com/investor-relations/stock-exchange-disclosure. We request you to take the above on your record. Thank you For Ather Energy Limited Puja Aggarwal Company Secretary & Compliance Officer Membership No: A49310 Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru – 560 001 Karnataka, India Tel: +91 80 6188 6000 Fax: +91 80 6188 6011 INDEPENDENT AUDITOR’S REPORT To The Members of Ather Energy Limited (formerly known as Ather Energy Private Limited) Report on the Audit of the Financial Statements Opinion We have audited the accompanying financial statements of Ather Energy Limited (formerly known as Ather Energy Private Limited) (the “Company”), which comprise the Balance Sheet as at March 31, 2026, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash Flows and the Statement of Changes in Equity for the year ended on that date, and notes to the financial statements, including a summary of material accounting policies and other explanatory information. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Companies Act, 2013 (the “Act”) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2026, its loss and other comprehensive loss, its cash flows and the changes in equity for the year ended on that date. Basis for Opinion We conducted our audit of the financial statements in accordance with the Standards on Auditing (“SA”s) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibility for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“ICAI”) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the financial statements. Key Audit Matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. we have determined the matters described below to be the key audit matters to be communicated in our report. Sr. No. Key Audit Matter Auditor’s Response Intangible assets under development Principal audit procedures performed (Refer note 2e to the financial included the following: statements) - Assessed whether the Company's The Company has various internally Internally generated intangible assets- generated intangible projects under research and development development. Initial recognition of the expenditure accounting policy is in development expenditure under these compliance with Ind AS 38 “Intangible projects is based on assessing each Assets”. project in relation to specific Page 1 of 13 recognition criteria that needs to be - We assessed the design, met for capitalisation. implementation and operating effectiveness over management Due to the materiality of the assets process of identifying and capitalising under development recognised and the the development expenditure in level of management judgement accordance with the accounting involved, initial recognition and principles of capitalisation of measurement of internally generated expenditure on internally generated intangible assets under development intangible assets as per Ind AS 38. has been considered as a key audit matter. - For sample selected, we performed test of details to verify the appropriateness of the capitalisation. Information Other than the Financial Statements and Auditor’s Report Thereon • The Company’s Board of Directors is responsible for the other information. The other information comprises the information included in the Board report including the Annexures to the Board report and Management Discussion and Analysis but does not include the financial statements and our auditor’s report thereon. • Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. • In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. • If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of Management and Board of Directors for the Financial Statements The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, cash flows and changes in equity of the Company in accordance with the accounting principles generally accepted in India, including Ind AS specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are [Showing first 8,000 characters — download PDF for full document]