OLA ELECTRIC : CLARIFIES MEDIA REPORTS ON SUPPLIER DISPUTES

• Company raised warranty and performance concerns regarding parts from Anevolve Mando E-Mobility and Sterling E-Mobility Solutions. • Initiated arbitration proceedings against vendors and filed Section 9 petitions seeking interim relief. • Suppliers subsequently filed Section 9 insolvency petitions. • Company contests insolvency petitions, viewing disputes as subject to pre-existing arbitration. • Company unaware of undisclosed information that could explain trading movement. • Publication of the article does not have a material impact on business, operations, or financial position. Impact: Neutral (Company clarifies ongoing arbitration and contests insolvency petitions filed by suppliers.)

Ola Electric Mobility Limited

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