Press Release

28th July 2026 The Manager – Listing The Manager – Listing BSE Limited National Stock Exchange of India Limited BSE Code: 501455 NSE Code: GREAVESCOT Dear Sir/Madam, Sub: Press Release Please find enclosed herewith Press Release issued by Greaves Electric Mobility Limited, subsidiary of the Company, with the heading “Ampere and Muthoot Capital forges partnership to accelerate EV adoption across Bharat”. Kindly take the same on record. Thanking You, Yours faithfully, For Greaves Cotton Limited Atindra Basu Group General Counsel & Company Secretary Membership No: F13799 Encl.: a/a Greaves Cotton Limited Email ID: investorservices@greavescotton.com I Website: www.greavescotton.com Registered Office: J-2, MIDC Industrial Area, Chikalthana, Chhatrapati Sambhajinagar - 431 006, Maharashtra, India. Tel.: (+91 240) 2479250, 2479232 Corporate Office: Unit Nos. 301 & 302, 3rd Floor, Tower B, Peninsula Business Park, Ganpatrao Kadam Marg, Off Senapati Bapat Marg, Lower Parel, Mumbai – 400 013 Tel: +91 22 41711700 I CIN: L99999MH1922PLC000987 Ampere and Muthoot Capital forges partnership to accelerate EV adoption across Bharat Partnership to make Greaves Electric Mobility's E2W ownership more accessible and affordable across markets New Delhi/ Bengaluru, 28th July 2026: Ampere, the E2W brand of Greaves Electric Mobility Limited (“GEML”), with portfolio of record-breaking electric scooters, today announced a partnership with Muthoot Capital Services – one of India’s most trusted retail NBFCs. The partnership is aimed to make electric mobility ownership more accessible and affordable across India and help accelerate EV adoption. This will also offer customers convenient, flexible and customer-centric retail financing solutions for Ampere’s complete range of electric two-wheelers. The partnership is designed to bridge affordability barriers by offering financing solutions tailored to diverse income profiles and mobility needs. Flexible repayment options of the collaboration are expected to broaden access to electric mobility by making ownership more convenient, affordable and financially sustainable for EV buyers, salaried professionals, self-employed individuals, gig workers or small business owners. Speaking on the partnership, Manoj M. P., Chief Business Officer, Greaves Electric Mobility, said, “At Ampere, our focus has always been on making mobility accessible, affordable and practical for every Indian customer. Financing plays a very crucial role in this journey, especially in supporting EV buyers. Our partnership with Muthoot Capital Services Ltd. brings together trusted and our growing electric two- wheeler portfolio to offer seamless and customer-centric ownership solutions. Together, we aim to remove financial barriers, empower customers with greater choice and convenience, and accelerate the adoption of clean mobility across Bharat.” Mr. Mathews Markose, CEO, Muthoot Capital Services Ltd., said, "At Muthoot Capital, our purpose has always been to make mobility financing accessible, responsible, and inclusive for every Indian. As the country transitions towards cleaner and more sustainable transportation, financing will play a pivotal role in accelerating EV adoption beyond metropolitan cities and into the heart of Bharat. Our partnership with Ampere brings together Ampere and Muthoot, two trusted brands, with a shared vision of democratizing access to electric mobility. With our deep understanding of retail financing, extensive customer reach, and technology enabled lending capabilities, we are committed to delivering seamless, transparent, and affordable financing solutions that empower customers to embrace electric mobility with confidence. This collaboration is not merely about financing vehicles, it is about enabling aspirations, supporting livelihoods, and contributing meaningfully to India's sustainable mobility journey. We believe this partnership will create long-term value for customers, dealers, and the broader EV ecosystem while reinforcing our commitment to responsible growth and innovation." With over 18 years of experience in designing and manufacturing of electric vehicles, Ampere, has established a strong presence in India’s electric two-wheeler market. GEML continues to strengthen customer accessibility through expanding product portfolio, growing dealer network and strategic partnerships, enhancing the overall experience. Backed by the 165-year legacy of Greaves Cotton Limited, GEML remains committed to building an affordable and sustainable electric mobility ecosystem addressing the evolving needs across urban, semi-urban and emerging markets. By bringing together GEML’s expanding electric two-wheeler portfolio and Muthoot Capital’s deep retail financing network, the partnership is expected to accelerate EV adoption across India. It will further strengthen GEML’s market presence by supporting dealer growth accelerate mass EV adoption, and expanding access to clean, future-ready mobility solutions through 500+ pan-India touchpoints ensuring seamless customer support. The collaboration reflects Ampere’s commitment to build products and solutions that are engineered to Outperform, Outlast & Outshine, while advancing India’s journey toward a sustainable, self-reliant, and inclusive mobility future. More information: Link *ENDS* About Greaves Cotton Limited: Greaves Cotton Limited (GCL), also known as Greaves, is a diversified, multi-product, multi-fuel, and multi- location engineering company with a legacy of 165 years and strong brand trust. Originally renowned for its single-cylinder diesel engines, Greaves has transformed into a fuel-agnostic, end-to-end mobility solutions provider, driven by the purpose of "Empowering Lives”. The Company is enabling a sustainable transition to green mobility and aims to touch a billion lives by 2030. Greaves is building a digitally integrated ecosystem that connects consumers, business partners, and service providers across the entire mobility value chain. Through its five independent business units, Greaves Engineering, Greaves Electric Mobility Ltd., Greaves Retail, Greaves Finance Ltd., and Greaves Technologies Ltd., Greaves combines agility with strategic focus, delivering innovation and enhancing accessibility for consumers. With significant investments in technology and human capital, the Company is positioned to lead in India’s EV and sustainable mobility markets. The Company remains committed to sustainable growth and economic progress, making it a trusted partner in shaping the future of mobility in India. For more information, visit- www.greavescotton.com About Greaves Electric Mobility Limited: Greaves Electric Mobility Limited (GEML), the electric mobility business of Greaves Cotton Limited (GCL), is one of the first companies in India to focus on the evolving market of electric vehicles (“EV”) and has been among the frontrunners at driving EV adoption in the country*. With over 17 years of experience designing and manufacturing electric vehicles*, GEML serves both the electric 2-wheeler and 3-wheeler segments. GEML along with its subsidiaries, operates three manufacturing plants located in Hyderabad, Noida, and Ranipet. The company supports its network through 400 dealer touchpoints across India, thereby aiming minimal downtime and enhanced customer experience. GEML holds 8 India Book of Records** and 1 Asia Book of Records** titles, reflecting its focus on technology and design led innovative & durable mobility solutions. Subsidiaries MLR Auto Limited and Bestway Agencies Private Limited help extend GEML’s market presence. Committed to affordability and sustainability, GEML provides clean mobility solutions contributing to India’s shift toward electric transportation. * Source: CRISIL Report **India Book Of Records: 1. https://indiabookofrecords.in/longest-journey-by-a-city-speed-family-electric-scooter/ 2. https://indiabookofrecords.in/first-electric-scooter-to-complete-10000-kilome [Showing first 8,000 characters — download PDF for full document]