Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance of to our earlier letter dated October 26, 2026 on the audio recording of earnings call held on October 26, 2026, please find enclosed herewith the transcript of the said earnings call.

October 30, 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: Transcript of earnings call held on October 26, 2026. Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance to our earlier letter dated October 26, 2026 on the audio recording of earnings call held on October 26, 2026, please find enclosed herewith the transcript of the said earnings call. Kindly take the above information on record. Thank you For Ather Energy Limited Puja Aggarwal Company Secretary and Compliance Officer Membership No: A49310 “Ather Energy Limited Q2 FY27 Results Conference Call” October 26, 2026 MANAGEMENT: MR. TARUN MEHTA – EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER, ATHER ENERGY LIMITED MR. SOHIL PAREKH – CHIEF FINANCIAL OFFICER, ATHER ENERGY LIMITED MR. MURALI SASHIDHARAN – HEAD OF COMMUNICATIONS, ATHER ENERGY LIMITED Moderator: Ladies and gentlemen, good day, and welcome to the Ather Energy Limited Q2 FY27 Results Conference Call. As a reminder, all participant lines will be in the listen-only mode. And there will be an opportunity for you to ask questions after the presentation concludes. Should you need Page 1 of 15 Ather Energy Limited October 26, 2026 assistance during the conference call, please signal an operator by pressing star, then zero on your touchtone telephones. Please note that this conference is being recorded. I now hand the conference over to Mr. Murali Sashidharan, Head of Communications at Ather Energy. Thank you, and over to you, sir. Murali Sashidharan: Thank you. Good evening, everyone, and welcome to Ather Energy Limited's Q2 FY27 Earnings Conference Call. From the management, we have with us today Mr. Tarun Mehta, Executive Director and Chief Executive Officer; and Mr. Sohil Parekh, Chief Financial Officer. Before we begin, let me draw your attention to the fact that the discussion today may include certain forward-looking statements, which are predictions, projections or other estimates about future events. These statements reflect management's current expectations about the future performance of the company and are subject to various risks and uncertainties that may cause actual results to differ materially. Please note that this conference is being recorded. As a reminder, all participants will be in a listen-only mode, and there will be an opportunity to ask questions after a brief overview from our management team. With that, I now request Mr. Tarun Mehta, Executive Director and CEO, Ather Energy, to share his opening remarks. Over to you, Tarun. Tarun Mehta: Thanks, Murali. Welcome, everybody. Welcome to our earnings call for Q2 FY27. This has been a pretty stellar quarter for us, and I would say actually the entire industry with industry registrations hitting a growth of 82% year-on-year, netting out at about 6 lakh sales for the entire quarter. Phenomenal growth across all the 3 zones that we track, Middle India, South India and Rest of India. What's really heartening is I want to bring attention to 2 important points. First, the growth is becoming more broad-based. And that's very important and very, very healthy to see. For example, if you see last quarter, the growth across 3 zones was a bit different with South India leading at 82% and Rest of India at about 54% and Middle India in the middle at 66%. But in Q2, we are starting to see signs of growths pretty much coming in at the same level across the zones at 82% in South, 85% in Middle India and 79% in Rest of India. So quite a broad- based growth overall. The second important trend is that South still continues to be an absolute monster of a zone, growing at 82% despite a fairly healthy base already, which is what you want to see, obviously, because electrification is still in early stages. Q2 was the first quarter when pan-India E2W penetration crossed 10%, netting out at about 11.2% for the full quarter. And very -- we do believe that this is still supply constrained at an industry level, and the coming quarters should continue to remain fairly healthy for the entire industry. Page 2 of 15 Ather Energy Limited October 26, 2026 For us, Q2 was particularly important because this was the quarter when we had our annual Ather Community Day 2026 and where we launched a whole bunch of things from our ecosystem to software to obviously, the new product, Konarc. Let's start with some of the launches we did in this ACD. ACD overall has become a pretty landmark event for us. It's grown from its humble origins of about 600, 700 owners who came in, in 2023 to almost 6,000 people who got together in Bangalore this year. Fantastic coverage, many, many, many viral moments, and a lot of attention that it's helped bring to the brand and established its equity across the country. Some of the important things that launched in this ACD were starting with Ather TrueHealth. This is a comprehensive health report of a scooter, where we basically started showing the health of different components like the battery, brakes, belts, dashboard, motor, etcetera, on your mobile app. So you can just go to your mobile app, click a button and see the health of different components, which is quite pioneering in our industry. And we convert all of that into a simple health score. Essentially, we want to -- the idea here is we want to give EV owners a lot of confidence and comfort that how their EV is performing even after years of usage. And we took it one step forward by starting -- we have started to show with estimated resale value for scooters that have crossed 3 years of ownership. The intention, again, is not at this point to establish a business channel, but to again give EV owners a lot of conviction that they've made the right choice by going to electric, and their vehicles continue to retain a lot of value. The second thing that we announced was Ather Node, which is a infrastructure product that enables EV charging in apartments. It's a really smart system that comes with automatic queuing, smart load management. It draws power from common loads instead of individual houses, freeing up a lot of complicated infrastructure that the homeowners otherwise would need to do, comes with customized billing and is very cost effective. Ather Node is getting industrialized right now and will commence operations -- commence deployment in the next few months as we are onboarding our first few set of partners. Third big thing was Ather Bedrock, which is our fifth-generation battery packs with enhanced safety and much longer warranty periods. These are fairly well-developed battery packs, which come with real-time micro leak detection. They come with cell balancing that is almost 5x faster than previous generation and are the first battery packs from Ather that come with 10 years or 1 lakh kilometer warranties with a 70% performance guarantee. These batteries have already gone live across the entire portfolio from 450, Rizta and Konarc. And obviously, the big launch for ACD underpinning all of it this year was Konarc, our mainstream product going live this year. Konarc, we decided to focus a lot of -- a lot in this product on the fundamentals of scooters in India. So this is our first scooter that's come with 14- inch front wheels. It's come with one of the longest rear suspensions in the country for scooters. Page 3 of 15 Ather Energy Limited October 26, 2026 It comes with a beautiful padded grab handle, adjustable backrest, onboard charging, combined charging so that customers are not even locked into one charger spec over the ownership period. Our first scooter with the center stand, metal body, a remarkably improved service layout so that you only have to service your scooter on [Showing first 8,000 characters — download PDF for full document]