Ola Electric Technologies Private Limited (OET), a material wholly-owned subsidiary of Ola Electric Mobility Limited, has approved the third tranche of allotment of 10,00,00,000 (Ten Crore) Non-cumulative and Non-participating, 0.001% Series A Optionally Convertible Redeemable Preference Shares (OCRPS). Each share has a nominal value of ₹10, aggregating to a total consideration of ₹100,00,00,000 (Rupees Hundred Crore). The allotment is made on a preferential basis through private placement to Ola Cell Technologies Private Limited (OCT), another material wholly-owned subsidiary of the Company and a fellow subsidiary of OET. The Board Meeting of OET, where this allotment was approved, commenced at 11:00 a.m. IST and concluded at 11:30 a.m. IST on December 23, 2025. This development follows shareholder approval for variation of IPO proceeds utilization at the Annual General Meeting held on August 22, 2025, and continues from previous intimations dated October 07, 2025, and October 30, 2025. Details for further tranches will be intimated as funds are infused and allotments are made by OET.