Press Release (Revised)

OLA ELECTRIC MOBILITY LIMITED CIN - L74999KA2017PLC099619 (Formerly known as Ola Electric Mobility Private Limited) July 1, 2026 To, To, National Stock Exchange of India Limited BSE Limited Address: Exchange Plaza, C-1, Block G, Bandra Address: Phiroze Jeejeebhoy Towers Kurla Complex, Bandra (E), Mumbai-400051, Dalal Street Mumbai- 400001, Maharashtra, India. Maharashtra, India. NSE Scrip Symbol: OLAELEC BSE Scrip Code: 544225 Subject: Updated Press Release dated July 1, 2026. Dear Sir/ Madam, With reference to the captioned subject, we are enclosing herewith the updated Press Release, titled “Ola Electric Doubles QoQ Growth in Q1 FY27; Registers 16,144 Vehicles in June 2026”. Please note that the enclosed Press Release has been updated to correct inadvertent typographical errors, wherein the references to "Q1 FY26" and "Q4 FY25" have been corrected to "Q1 FY27" and "Q4 FY26", respectively. No other changes have been made to the Press Release. The above intimation will also be hosted on the website of the Company i.e., www.olaelectric.com. We request you to take the above on your record. Thanking you, For Ola Electric Mobility Limited Deepak Rastogi Chief Financial Officer 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 Doubles QoQ Growth in Q1 FY27; Registers 16,144 Vehicles in June 2026 ● Q1 FY27 VAHAN registrations nearly double QoQ to 43,719 units ● Company registers 16,144 units in June 2026, marking the strongest monthly performance in recent quarters Bengaluru, 1 July 2026: Ola Electric today announced that it registered 43,719 vehicles in Q1 FY27, nearly doubling from 22,252 vehicles in Q4 FY26, according to VAHAN data. The quarter concluded with 16,144 registrations in June 2026, reflecting sustained business momentum and the company's strongest monthly performance in recent quarters. The strong sequential growth demonstrates continued improvement in retail execution, customer demand and product availability, building on the operational initiatives undertaken over the last few quarters. June's performance further reinforces the positive trajectory seen through the quarter, as the company continues to strengthen its position in India's fast-growing electric two-wheeler market. Ola Electric spokesperson said, "Q1 FY27 marks a significant milestone in our growth journey, with registrations doubling sequentially and June registering 16,144 vehicles - our strongest monthly performance in recent quarters. The sustained momentum reflects the success of our operational improvements, strong product portfolio and continued customer preference for Ola Electric. We remain focused on accelerating EV adoption through technology leadership, manufacturing scale and delivering a differentiated ownership experience." India's electric two-wheeler market continues to witness strong structural growth, driven by increasing consumer preference for electric mobility, favourable economics compared to ICE vehicles, and growing awareness around energy security and sustainability. As EV adoption accelerates across the country, Ola Electric remains well positioned to lead the transition through its vertically integrated technology and manufacturing platform. The company continues to expand EV penetration through innovative products, advanced battery technology, manufacturing scale and a robust direct-to-customer distribution network across India. About Ola Electric Mobility Limited Ola Electric Mobility Limited is India's leading electric vehicle (EV) manufacturer. It specialises in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. The Ola Futurefactory in Tamil Nadu, where EVs and critical components are produced, is developing India's most significant EV hub. It is supported by Ola's Bengaluru-based Battery Innovation Centre (BIC), dedicated to advancing cell and battery technology. Ola's R&D efforts span India, the UK, and the US, focusing on innovative EV products and core components. Ola maintains a direct-to-customer distribution network of thousands of stores across India and a robust online presence, making Ola Electric the largest company-owned network of automotive experience centres in the country.