Outcome of Board Meeting

OLA ELECTRIC MOBILITY LIMITED CIN - L74999KA2017PLC099619 Date: September 28, 2026 To, To, National Stock Exchange of India Limited, BSE Limited Address: Exchange Plaza, C-1, Block G, Address: Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E), Dalal Street Mumbai- 400001, Mumbai-400051, Maharashtra, India. Maharashtra, India. NSE Scrip Symbol: OLAELEC BSE Scrip Code: 544225 Dear Sir/Madam, Subject: Outcome of the meeting of the board of directors (“Board”) of Ola Electric Mobility Limited (the “Company”) held on September 28, 2026. Ref.: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”). In continuation to our prior intimation dated September 23, 2026, we wish to inform you that: 1. The Board has, considered and approved, subject to such regulatory and statutory approvals, if and as may be required under the applicable law, the issue of partly paid-up equity shares of the Company of face value ₹10 each for an amount not exceeding ₹ 1,000 crore (Rupees One Thousand crore only) by way of a rights issue to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently), in accordance with the requirements prescribed under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, the Companies Act, 2013 and other applicable laws. Further, for the purposes of giving effect to the rights issue, the specific and detailed terms in relation to the rights issue, including but not limited to the determination of the rights issue price, rights entitlement ratio, record date, timing of the rights issue and terms of payment and other related matters will be determined by the Board and authorised in this regard and shall be disclosed to the exchange in due course. The disclosure as required pursuant to Regulation 30 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 attached as per Annexure A. The meeting commenced at 17:45 PM (IST) and concluded at 18:30 PM (IST). Registered Address: Wing C, Prestige RMZ Startech, Hosur Road, Municipal Ward No.67, Municipal No. 140, Industrial Layout, Koramangala, Bengaluru – 560095, Karnataka, India | Landline: 080 35440050 | companysecretary@olaelectric.com | www.olaelectric.com OLA ELECTRIC MOBILITY LIMITED CIN - L74999KA2017PLC099619 This intimation will also be made available on the website of the Company and can be accessed using the link: https://www.olaelectric.com/investor-relations/announcements. You are requested to kindly take the above information on record. Thanking you, Yours faithfully, For and on behalf of Ola Electric Mobility Limited Deepa Bansal Company Secretary and Compliance Officer Membership No. A37579 Place: Bengaluru Encl: as above Registered Address: Wing C, Prestige RMZ Startech, Hosur Road, Municipal Ward No.67, Municipal No. 140, Industrial Layout, Koramangala, Bengaluru – 560095, Karnataka, India | Landline: 080 35440050 | companysecretary@olaelectric.com | www.olaelectric.com OLA ELECTRIC MOBILITY LIMITED CIN - L74999KA2017PLC099619 Annexure A Sr. Particulars Details I. T ype of securities proposed to be issued (viz. Partly paid-up equity shares of the equity shares, convertibles, etc.) Company II. T ype of issuance (further public offering, Rights issue to the eligible equity rights issue, depository receipts shareholders of the Company as on the (ADR/GDR), qualified institutions record date placement, preferential allotment etc.) III. T otal number of securities proposed to be Total amount not exceeding ₹ 1,000 issued or the total amount for which the (Rupees One Thousand Crore only). securities will be issued (approximately) Total number of securities to be issued will be determined by the Board. IV. In case of preferential issue the listed entity shall disclose the following additional details to the stock exchange(s): Not Applicable V. In case of bonus issue the listed entity shall disclose the following additional details to the stock exchange(s): Not Applicable VI. In case of issuance of depository receipts (ADR/GDR) or FCCB the listed entity shall disclose following additional details to the stock exchange(s): Not Applicable VII. In case of issuance of debt securities or other non-convertible securities the listed entity shall disclose following additional details to the stock exchange(s): Not Applicable VIII. A ny cancellation or termination of proposal for issuance of securities including reasons thereof: Not Applicable Registered Address: Wing C, Prestige RMZ Startech, Hosur Road, Municipal Ward No.67, Municipal No. 140, Industrial Layout, Koramangala, Bengaluru – 560095, Karnataka, India | Landline: 080 35440050 | companysecretary@olaelectric.com | www.olaelectric.com