TERMS AND CONDITIONS - OLA INSIDERS PROGRAM

Effective Date: March 01, 2026

Introduction and Nature of the Program

Ola Electric Technologies Private Limited (“Ola”, “we”, “our” or “the Company”) has introduced Ola Insiders, a structured ownership lifecycle program designed for existing Ola customers.

Ola Insiders is a voluntary, conditional, promotional customer engagement initiative intended to:

• Encourage upgrade of older Ola vehicles
• Facilitate addition of second Ola vehicles within the same household
• Enable structured customer referrals
• Strengthen the Ola ownership ecosystem

Ola Insiders shall not be construed as a statutory buyback program, not a guaranteed resale scheme, not an assured future value plan, and does not create any legally enforceable entitlement unless and until all conditions set out herein are fully satisfied.

Participation in the Program constitutes unconditional acceptance of these Terms and Conditions.

Eligibility and Participation

Participation in Ola Insiders is available only to eligible customers as determined by Ola in its sole discretion.

A participant must:

• Be a registered owner of an Ola vehicle (where applicable to the specific module)
• Provide valid KYC documentation
• Should be over 18 years of age
• Not be under fraud investigation or blacklisting
• Have no material unresolved payment disputes with Ola

Ola reserves the right to approve, reject, suspend, or revoke participation at any time if eligibility criteria are not met.

No person shall have a vested or accrued right to participate merely because they are an existing Ola customer.

Structure of the Program

Ola Insiders currently comprises three modules:

1. Add-on Vehicle
2. Referrals (Referral Incentive Program)
3. Upgrade / Exchange Program (Gen 1 Gen 2 Owners)

Each module operates independently and may be modified, paused, expanded, or withdrawn without prior notice.

Add-on Vehicle Program

Program Intent

The Add-on Vehicle program is intended to allow an existing registered Ola vehicle owner to purchase an additional Ola vehicle in the same registered name and receive defined promotional benefits. The purpose of this module is household expansion, not third-party transfers.

Eligibility Requirements

To qualify:

• The new vehicle must be registered in the exact same name as the existing registered Ola vehicle owner.
• The RC of the existing vehicle must be submitted.
• A benefit request form must be completed.
• Verification confirmation will be conducted over a recorded call.

Any request to change the registered name after submission of benefit request shall automatically disqualify eligibility. This same-name requirement is mandatory and non-negotiable.

Nature of Benefits

Eligible customers may receive:

• Cashback (as defined by the prevailing program structure)
• MoveOS activation (where applicable)

The total benefit value is subject to internal caps and program limits.

Benefits:

• Are conditional
• Are not guaranteed until verified
• Are subject to backend validation
• Are processed only after delivery confirmation

If the order is cancelled prior to delivery, the benefit automatically lapses without any liability on Ola.

Cashback timelines may vary depending on internal processing cycles.

Referral Program

Program Intent

The Referrals module allows existing Ola customers to refer prospective buyers and earn promotional credits upon successful purchase and delivery by the referred customer.

This is an incentive mechanism and not a commission arrangement.

Referral Conditions

Referral benefits are triggered only after:

• Successful booking
• Successful KYC
• Successful delivery

If the referred customer cancels the order, fails verification, or does not take delivery, no benefit shall accrue.

Referrals are subject to monthly and annual caps.

Self-referrals, circular referrals, or attempts to game the system are strictly prohibited.

Ola reserves the right to reverse credits if fraudulent patterns are detected.

Credits are:

• Non-transferable
• Not redeemable for cash
• Subject to validity periods
• Revocable in case of misuse

UPGRADE / EXCHANGE PROGRAM

Program Nature

The Upgrade Program is a conditional exchange facilitation mechanism available to eligible Gen 1 and Gen 2 Ola owners in participating cities.

It is not a statutory obligation and does not guarantee minimum resale value.

Indicative exchange value bands communicated through marketing or at store level are non-binding and subject to inspection and backend evaluation.

Valuation Process

Exchange value is determined through a combination of:

• Physical inspection
• Vehicle condition categorization
• Kilometer band analysis
• Functional diagnostics
• Battery State of Health (SoH)
• Charger availability
• Backend algorithmic model assessment

The final exchange value determined by Ola’s system shall be binding.

Customers acknowledge that:

• Exchange valuation is a commercial assessment.
• No independent third-party valuation is required.
• Backend algorithm is proprietary.
• Condition assessment may affect final value.

This acknowledgment is specifically intended to avoid disputes under the Consumer Protection Act relating to “deficiency in service” or “misrepresentation.”

Documentation Requirements

Exchange customers must provide:

• Original RC
• Form 29 & 30
• Identity proof
• Exchange declaration
• Bank NOC (if hypothecated)
• Hypothecation removal documentation
• Form 28 (if interstate transfer required)

Incomplete documentation will result in rejection or delay.

If the vehicle is under loan and NOC is not produced, Ola reserves the right to refuse exchange.

Custody and Irrevocability

Once the exchange vehicle is physically handed over and custody is accepted by Ola:

• The vehicle will be immobilized.
• VIN will be verified.
• OTP confirmation may be recorded.
• Physical checklist and photographs will be captured.
• Keys will be recorded as received.

Upon acceptance of custody:

• The exchange cannot be reversed.
• The vehicle cannot be reclaimed by the customer.
• The exchange value becomes final and binding.

If the customer cancels the new vehicle purchase after exchange custody:

• The exchanged vehicle may not be returned.
• Administrative deductions may apply.
• Revised settlement may be calculated at Ola’s discretion.
• No claim for restoration of original possession shall lie.

RTO and Title Transfer

The customer expressly authorizes Ola to:

• Submit Form 29/30
• Process Form 28 (if applicable)
• Transfer VIN
• Complete ownership transfer
• Remove hypothecation (where applicable)

RTO timelines are beyond Ola’s control. Ola shall not be liable for governmental or regulatory delays.

Consumer Protection Act Safeguards

No Unfair Trade Practice

All marketing communications are indicative and promotional in nature.

No advertisement, social media post, store communication, WhatsApp message, or app notification shall be construed as a binding contractual guarantee of resale value or benefit entitlement.

Final eligibility remains subject to backend validation.

No Deficiency in Service

Customers acknowledge that:

• Exchange valuation involves subjective and technical assessment.
• Benefit approval requires verification.
• Delays due to RTO, banks, regulatory authorities, or third parties are not attributable to Ola.
• Backend system validation is integral to approval.

Accordingly, participation in this Program shall not create grounds for alleging deficiency in service solely on account of:

• Variation in exchange value
• Processing delays
• Benefit rejection due to documentation gaps

Refund Principles

Benefits under Ola Insiders Program are promotional incentives and not advance deposits.

Where cancellation occurs:

• Refunds shall be governed by Ola’s prevailing refund policy.
• Exchange value adjustments may be recalculated.
• Cashback eligibility may lapse.

Nothing in this Program guarantees unconditional full refund entitlement.

Fraud and Misrepresentation

Anti-Fraud Provisions

Ola reserves the right to:

• Reject exchange where odometer tampering is detected.
• Reject exchange where battery manipulation is suspected.
• Reverse credits in case of referral abuse.
• Blacklist customers engaging in structured arbitrage.
• Initiate civil or criminal proceedings where fraud is detected.
• False declarations may attract legal action.

Data and Digital Consent

Consent

By participating, the customer consents to:

• Recorded verification calls
• Data validation
• Vehicle diagnostic scans
• Backend analytics
• Communications via app, WhatsApp, SMS and email

Data shall be processed in accordance with Ola’s Privacy Policy and applicable data protection laws.

Limitation of Liability

Limitation

Ola’s maximum liability under this Program shall not exceed the benefit value applicable to the specific transaction.

Ola shall specifically not be liable for:

• Market depreciation.
• Opportunity loss.
• Emotional distress.
• Indirect or consequential damages.
• Third-party delays.

Force Majeure

Force Majeure

Ola shall not be responsible for non-performance due to:

• Regulatory changes
• Government restrictions
• Natural disasters
• System failures
• RTO delays
• Supply chain disruption

Dispute Resolution

Governing Law

These Terms are governed by the laws of India. Courts at Bengaluru shall have exclusive jurisdiction.

Ola may elect arbitration under the Arbitration and Conciliation Act, 1996, at its discretion. The seat and venue of the arbitration shall be in Bengaluru, India.

Right to Modify

Right to Modify

Ola reserves the unilateral right to:

• Change benefit amounts
• Modify eligibility
• Impose additional conditions
• Pause specific cities
• Withdraw modules entirely

Changes become effective upon publication on the Website.

Customer Declaration

By participating in Ola Insiders, the customer declares that:

• All information provided is true and accurate.
• The vehicle is/was not stolen.
• There is no undisclosed encumbrance.
• The odometer has not been tampered.
• No material accident history is concealed.

False declaration may result in legal action.