Ola Electric Mobility Limited — Important, 21-03-2025: General Updates

Ola Electric Mobility Limited has clarified media reports regarding discrepancies in vehicle registrations. The company confirmed no ongoing negotiations or events but acknowledged inquiries from the Ministry of Heavy Industries and the Ministry of Road Transport concerning a gap between reported sales and registrations for February 2025, as well as compliance with Trade Certificate requirements. Notices have also been received regarding trade certificates for certain stores. The company is in the process of responding to these requests. Ola Electric asserts there is no material impact from the media coverage on its operations, maintaining a commitment to transparency. This could result in a neutral impact on investor sentiment, depending on the forthcoming clarifications.