Allotment of Securities

OLA ELECTRIC MOBILITY LIMITED CIN - L74999KA2017PLC099619 Date: November 02, 2026 To, To, To, National Stock Exchange of India Ltd., BSE LimiBteSdE Limited Address: Exchange Plaza, C-1, Block G, Address: PAhdirdorzees sJ:e Pehjeierobzheo yJe Tejoewebehrso y Towers Bandra Kurla Complex, Bandra (E), Dalal StreDeta Mlaul mStbreaei-t 4M0u0m00b1a,i - 400001, Mumbai-400051, Maharashtra, India. MaharashtMraa, hInardaisah. tra, India. NSE Scrip Symbol: OLAELEC BSE ScripB CSoEd Se:c 5ri4p4 C22o5d e: 544225 Sub: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”). Dear Sir/ Madam, This is in continuation to the meetings of the Board of Directors (“Board”) of Ola Electric Mobility Limited (“Company”) held on September 28, 2026, approving the offer and issue of partly paid-up equity shares of the Company (“Equity Shares”) on a rights basis to eligible equity shareholders of the Company (“Issue”) and our intimation dated October 07, 2026, regarding the outcome of the meeting of the Board held on October 07, 2026, approving the various terms of the Issue and approving the Letter of Offer. In relation to the aforesaid Issue and pursuant to the finalization of the basis of allotment of the Issue, in consultation with the designated stock exchange, National Stock Exchange of India Limited, the Rights Issue Committee at its meeting held today, i.e., November 02, 2026, inter alia, considered and approved the allotment of 37,02,72,665 partly paid-up Equity Shares at a price of ₹ 16.20 per Equity Share (including a premium of ₹ 10.20 per Equity Share) (“Allotment”). Accordingly, pursuant to the Allotment, the paid-up equity share capital of the Company has increased from ₹ 46,28,40,83,130 comprising of 4,62,84,08,313 fully paid-up equity shares of ₹ 10 each to ₹ 48,50,57,19,120) comprising of 4,62,84,08,313 fully paid-up Equity Shares and 37,02,72,665 partly paid-up (Rs. 6/- paid-up) Equity Shares. The meeting of the Rights Issue Committee commenced at 08:00 p.m. and completed at 08:15 p.m. The details as required under Regulation 30(6) 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 as amended/updated from time to time, and other applicable provisions of SEBI Listing Regulations, are given in ‘Annexure A’ to this letter. The above information is also available on the website of the Company and can be accessed using the link: https://www.olaelectric.com/investor-relations/announcements. Thanking you, Yours faithfully, For Ola Electric Mobility Limited Deepa Bansal Company Secretary and Compliance Officer Membership No.: A37579 Place: Bengaluru 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 Details with respect to issuance of securities, as required under Regulation 30 (6) of SEBI Listing Regulations read SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026SEBI/HO/CFD/PoD2/CIR/P/0155 dated January 30, 2026 DETAILS OF ISSUANCE OF SECURITIES Sr. No. Details of event(s) that need to be provided Information of such event(s) a. Type of securities proposed to be issued (viz. equity Partly paid-up equity shares of the shares, convertibles etc.); Company b. Type of issuance (further public offering, rights issue, Rights issue to the eligible equity depository receipts (ADR/GDR), qualified institutions shareholders of the Company as placement, preferential allotment etc.); on the record date c. Total number of securities proposed to be issued or the Allotment of 37,02,72,665 Partly total amount for which the securities will be issued Paid-up Equity Shares of Face (approximately); or the total amount for which the Value of ₹ 10 each on Right Basis securities will be issued (approximately); to the eligible shareholders and/ or renounce(s) in terms of the Letter of Offer at an issue price of ₹ 27/- per Equity Share (including a premium ₹ 17/- per Equity Share) out of which Rs. 16.20/- per Right Equity Share (including a premium of Rs. 10.20/- per Rights Equity Share) has been paid on application (“Allotment”) and the balance amount shall be payable on first and final call as defined in the Letter of Offer. d. Any cancellation or termination of proposal for issuance Not Applicable of securities including reasons thereof The Other details as prescribed in point (d) to (g) of Clause 2.1 of SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026SEBI/HO/CFD/PoD2/CIR/P/0155 dated January 30, 2026, are not applicable to the Company’s Rights Issue. 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