Ola Electric Mobility Limited

20.5%

AY 29, 2025SHAREHOLDERS' LETTERBIKE OF THE FUTUREROADSTER X ₨4,665 CrAdj. Revenue13,59,221Deliveries20.5%AutoGross Margin-23.8%Auto EBIDTAMargin-34.6%ConsolidatedEBIDTA MarginFY251 Adj. Revenue = Total Inc

23.8%

S' LETTERBIKE OF THE FUTUREROADSTER X ₨4,665 CrAdj. Revenue13,59,221Deliveries20.5%AutoGross Margin-23.8%Auto EBIDTAMargin-34.6%ConsolidatedEBIDTA MarginFY251 Adj. Revenue = Total Income - Interest Income

34.6%

TUREROADSTER X ₨4,665 CrAdj. Revenue13,59,221Deliveries20.5%AutoGross Margin-23.8%Auto EBIDTAMargin-34.6%ConsolidatedEBIDTA MarginFY251 Adj. Revenue = Total Income - Interest Income - TN Incentive 2 While

30%

our business and as Q1 FY26 is already majorly behind us.₨800-850 CrAdj. Revenue165,000Deliveries28-30%Gross Margin-10%Auto EBIDTAMargin-25%ConsolidatedEBIDTA MarginQ1 FY26E2Key MetricsExecutive Summary₨

10%

as Q1 FY26 is already majorly behind us.₨800-850 CrAdj. Revenue165,000Deliveries28-30%Gross Margin-10%Auto EBIDTAMargin-25%ConsolidatedEBIDTA MarginQ1 FY26E2Key MetricsExecutive Summary₨649 CrAdj.Revenu

25%

y majorly behind us.₨800-850 CrAdj. Revenue165,000Deliveries28-30%Gross Margin-10%Auto EBIDTAMargin-25%ConsolidatedEBIDTA MarginQ1 FY26E2Key MetricsExecutive Summary₨649 CrAdj.Revenue151,375Deliveries19.

19.2%

25%ConsolidatedEBIDTA MarginQ1 FY26E2Key MetricsExecutive Summary₨649 CrAdj.Revenue151,375Deliveries19.2%AutoGross Margin-78.6%Auto EBIDTAMargin-101.4%ConsolidatedEBIDTA MarginQ4 FY25We maintained our posi

78.6%

MarginQ1 FY26E2Key MetricsExecutive Summary₨649 CrAdj.Revenue151,375Deliveries19.2%AutoGross Margin-78.6%Auto EBIDTAMargin-101.4%ConsolidatedEBIDTA MarginQ4 FY25We maintained our position as India’s larges

101.4%

icsExecutive Summary₨649 CrAdj.Revenue151,375Deliveries19.2%AutoGross Margin-78.6%Auto EBIDTAMargin-101.4%ConsolidatedEBIDTA MarginQ4 FY25We maintained our position as India’s largest e2W OEM by volume in F

3.4 lakh

dEBIDTA MarginQ4 FY25We maintained our position as India’s largest e2W OEM by volume in FY25, with >3.4 lakh units registered and 30% market share (VAHAN)We became the first major OEM to enter India’s EV moto

rs 20

S1 franchise continued to lead the electric scooter segment with 14 modelsOur Gen 3 platform delivers 20% higher peak power, 20% more range, and an 11% cost reduction compared to our industry-leading Gen

20%

lead the electric scooter segment with 14 modelsOur Gen 3 platform delivers 20% higher peak power, 20% more range, and an 11% cost reduction compared to our industry-leading Gen 2 platform, featuring in

“140, Industrial Layout, Koramangala, Bengaluru – 560095, Karnataka, India | Landline: 080-35440050 | companysecretary@olaelectric.com | www.olaelectric.com Q4 FY25 | MAY 29, 2025SHAREHOLDERS' LETTERBIKE OF THE FUTUREROADSTER X ₨4,665 CrAdj.”

“Revenue = Total Income - Interest Income - TN Incentive 2 While we are not setting expectations of giving formal guidance every quarter, we have decided to share Q1 FY26 outlook as a one-time information given the fact that Q4 FY25 had too many moving parts for our business and as Q1 FY26 is already majorly behind us.₨800-850 CrAdj.”

“Bharat Cell production has entered final testing ahead of commercial rollout in FY26 FY26 will be focused on scaling revenue and operating leverage as we march towards sustainable profitability.”

“FY25 Auto Capex totaled ₹411 Cr and is mostly complete, with no major near-term investments expectedThe business remains well-capitalised with ~₹4,000 Cr of gross cash and cash equivalents at the end of Q4 FY25.”

“FY25 saw slower than expected E2W penetration growth, loss in our market share and execution challenges as we attempted to aggressively scale up our sales and service operations.From an industry perspective, FY25 was a mixed bag.”

“The 2W Industry grew ~7.5% YoY in FY25, with electric two-wheelers expanding over 22%.”

“However, the pace of EV penetration growth was relatively slower in FY25 (as seen in the chart below).”

“As we enter FY26, we see urban demand returning on the back of tapering inflation and declining interest rates, while we continue to focus our efforts in making the EV revolution more broad based.We have seen increased competitive intensity from traditional OEMs across all levers including distribution, product expansion and discounting.”

“This, combined with operational challenges in scaling up our direct to customer (D2C) sales and service network and slower pace of EV penetration growth in FY25 resulted in quarter-on-quarter loss of market share.Electrification is the future of mobility and our strategy (presented in more detail later) of technological leadership through vertical integration, building superior products and direct customer relationships is the winning one.”

“However we take learnings from FY25 and refocus our efforts to build stronger institutional foundations to improve on-ground execution quality and operations and better balance growth and profitability.Fig 1: e2W registrations and e2W penetration in overall 2 WheelerSource: Vahan Video 1: >910k S1 on Indian roads (video text being updated)Click here to play this videoWe began deliveries of the Roadster motorcycle series in May’25, becoming the first major OEM in India to launch an EV motorcycle.”

SUBJECT

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SUBJECT

ANALYST/INVESTORS. INVESTOR PRESENTATION OF THE EARNINGS CONFERENCE CALL WITH Dear Sir/ Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) and in continuation to our earlier intimation letter dated May 26, 2025, we are enclosing herewith a copy of the Investor Presentation on the Audited Financial Results (Consolidated and Standalone) of the Company for the Fourth Quarter and Financial Year ended March 31, 2025. This intimation will also be made available on the website of the Company and can be accessed using the below link: https://www.olaelectric.com/investor-relations/announcements. We request you to take the above on your record. Thanking You, Yours faithfully, For and on behalf of OLA ELECTRIC MOBILITY LIMITED Pritam Das Mohapatra Company Secretary & Compliance Officer M. No.: A24685 Place: Bengaluru Registered Address: Wing C, Prestige RMZ Startech, Hosur