INNOVATIVE AND

FUTURISTIC MOBILITY
Impact Report 2021

@atherenergy

@atherenergy

@atherenergy

www.atherenergy.com INNOVATIVE AND

3rd Floor, Tower D, IBC Knowledge Park, FUTURISTIC MOBILITY
Bannerghatta Main Road,
Bengaluru, Karnataka 560029
Ph: +91 76766 00900 Impact Report 2021
 About Ather Energy
Ather Energy is an Indian electric
two-wheeler company founded in 2013 by
Tarun Mehta and Swapnil Jain. It currently
manufactures two electric scooters - Ather
450X and Ather 450 Plus.
It has also established an electric vehicle
charging infrastructure across the country
called Ather Grid.

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Certificate of Impact

Table
of Contents

Prologue 6

Our Journey 8

Our Theory of Change 12

Ushering the Future of Mobility: Product Impact 14

Innovation through Collective Evolution: People Impact 22

Driving Innovation through Sustainable Process: Planet Impact 32

Championing Effective Governance: Policy Impact 38

Supporting the delivery of SDGs 40

Materiality Matrix - Ather Energy 41

Epilogue: Vision 2030 42

Aspire Impact uses its proprietary 4P framework to assess an organization’s impact across
PRODUCT, PEOPLE, PLANET, AND POLICY. We award companies a specific rating on Comprehensive Impact Assessment Methodology 43
impact, based on the outcome of the impact assessment. Our four-point rating system
provides an empirical improvement roadmap for companies to prioritize their efforts and
address key areas for maximum Impact.

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Prologue Letter from the CEO:
Since Ather’s inception in 2013, we have been driven by the idea of pushing the world
towards a more sustainable future. Sustainability is at the core of everything we do at Ather
Energy. Over the years, our focus has been to design and build products that are ever
improving and have a direct impact on the environment.We believe that, in addition to
developing sustainable products, it is critical to constantly assess and improve the organi-
zation's and ecosystem's impact as it grows. As a first step towards this, we introduced our
first impact report last year, measuring our overall social, environmental, and economic
Swapnil Jain Tarun Mehta impact in 2019-2020.

As a pioneer in the EV Two-wheeler industry, we continue to build products that are safe,
reliable, and sustainable. While we spent seven years perfecting the product, manufactur-
ing and supply chain, 2020-2021 was all about growth. In early 2020, we launched our flag-
ship product, the Ather 450X, which is one of the quickest and smartest electric scooters
on the market today. The next step was to expand, grow, and evolve as a company to
reach out to customers across the country. Ather began expanding its retail operations
across the country and subsequently opened a new manufacturing facility to cater to the
strong consumer demand. For us it was not just about the product it was about building the
entire ecosystem. We started setting up more fast charging points in all the current and
new markets. As we strive to provide quality products on a large scale, we have not only
furthered our manufacturing and service operations but also advanced our research and
development in the last year. The 450 series of scooters has indeed taken the company to
new heights, and its subsequent market expansion has cemented its place as a household
name while staying true to its goals.

The company has grown leaps and bounds in the past year, and we continue to measure
the impact and deepen our efforts to accelerate the transition to sustainable energy.
Hence, we publish our second Impact Report measuring the impact of our products, man-
ufacturing and policies on the community and the ecosystem around us, which manifests
our theory of action dedicated to a clean, green and bright future.

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 2013
Our Journey 2015 2017 2019
Key leadership Raised $51Mtn
Founded at the Raised
members instituted. in Series C.
IIT Madras $12 Mn in
Production Ather launches
Incubation cell Series A
commences in Chennai.
at factory.

2014 2016 2018 2020

Raised Raised $31Mn in Ather 340 Unveiled across
$1Mn in angel Series B. and 450 variants 10 cities.
investment Reach 175 launched Ather Grid
Employees in Bangalore at 79 locations

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 FY 20-21 Journey

July Ather Energy

2020 raises Rs 84 crore from existing investor Hero MotoCorp

November Ather Energy raises Rs 260 crore in fresh funding led by Sachin
2020 Bansal and Hero MotoCorp

December Ather Energy

2020 launches its electric scooter 450X in 16 additional Indian cities

January Ather Energy starts operations

2021 at its new 1,23,000 sq ft production facility in Hosur, Tamil Nadu

February Ather completes its 1st Impact assessment (Report launched in

2021 July 2021)

March Ather Energy expands its presence to 16 cities with over 148
2021 Ather Grid points

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Our Theory of Change

Inputs Activities Outputs & Outcomes Impact

- Intellectual capital - World class - Production of top of the class - Presence in 7 cities. Sold - Catalyzed e- mobility
technology, R&D, 50+ patents EV scooters. 9217 produced by over 8205 + vehicles infrastructure for faster adoption
filed. March 2021. in India as pioneering e2W
- Charging ecosystem built with manufacturers.
- Human capital - 1457 employees. - New financing mechanisms, around 148 charging stations
Experienced, diverse, pedigree leasing and subscriptions. across 16 cities. - Empowered citizens with
management. conscious, green choices for
- Ather Space to educate 19.1 Mn kms ridden
- mobility.
- Financial capital, over USD 140 consumers on EV categories 277 MT of CO2 emissions saved.
million raised. and shape their experience. - Ensured mitigation of climate
- Developed an active online change by the offset of 277 MT
- Developing ecosystems for community of 14,100 Ather of carbon leading to clean air
- Production expertise,
1 manufacturing facility with a
charging, can be used for all EV consumers. andbetter health.
two-wheelers.
workforce of 426.
- High on customer satisfaction - Contribution towards
- Deep understanding of Indian - Building communities of EV and engagement electrification of India’s
consumer needs in the category. customers & enthusiasts. transportation sector.

- Aatmanirbhar initiatives to - Skilling India for electric

localise supply chains. Only 1 vehicle and allied industries.
out of 300+ components are Strong vendor ecosystem for
imported. component manufacturing.

- Support governments with

building standards and policies
for the successful adoption of
EVs.

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Ushering The Future of Mobility:
Product Impact
The demand for electric vehicles (EVs) has been
witnessing substantial growth in India with over 3
lakh EVs sold during the year 2021. 2-wheeler EVs
contribute significantly to these sales and the
segment has registered a YoY (the calendar year
2021 vs the calendar year 2020) sales increase of
132% which translates to 2.33 lakh units in 2021 as
against 1 lakh units in 2020.

An unprecedented rise in two-wheeler EV sales

over the last few months has been driven by
customer realization of EVs as a sustainable and
futuristic mobility solution and a reducing cost
disparity. The sales growth has been facilitated by
new favorable central and state government
policies focused on both the demand and the
supply side and increased investor interest in
the space among other things.

CO2 emission prevented – 277 MT

Fuel saved – 422119 (Petrol in Litres)
Kms ridden – 19,105,099.3
Units sold – 8205

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Creating a robust We opened up our patents on our proprietary charging connector to other OEMs and
CPOs (Charge Point Operators) to adopt for their two-wheelers, paving the way for an
charging infrastructure interoperable two-wheeler fast charging platform for the country. This would not only
reduce range anxiety by allowing all two wheelers to access Ather Energy’s 300+ fast
To address the EV adoption barrier of range anxiety, chargers, but also allow more OEMs to build products on a common standard thus
early on we put in place a strategy to build a network lowering infrastructure investments. Hence enabling the entire ecosystem to work
of charging grids, with charging stations setup together to fast-track EV adoption in India.
within a radius of 4 km in every city.

At Ather, we realize that a robust charging infrastructure is one of the major drivers in accel-
erating faster adoption of electric two-wheelers. Since our inception, we have invested in
building a fast-charging network, Ather Grid, using a connector standard developed by us During the year, we worked on a highly scalable fast charging platform called Grid2.0,
specifically for two-wheelers. In order to maximize usage and efficiency of charging infra- which costs ~70% lower cost than the previous gen (Grid 1.0), faster charges at 1.5X
structure, there is a need for common connectors & standards that can charging speed of previous gen and offers tfuture support for 3X charging speed of the
be used across products. previous gen. As we are expanding to more cities, we are continuously working towards
scaling our charging infrastructure network and aim to reach to >5000 fast charging points
in the next 2 years.
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Tracking emission Ensuring Product Safety
savings through
Ather connect platform

We introduced Savings Tracker as a feature in the Ather Connect Platform. The objective of
this was to celebrate the customer’s choice to move to an EV by showing the impact the
electric vehicle had on the reduction of emissions by not running their ICE vehicle the same
distance. This was as important a factor for many Ather customers as they have consistently
reported that their sensitivity to issues regarding climate change and the overall move to
sustainable modes of living was an important factor in them going electric and choosing Ather.

We measure ourselves not just in raw numbers but also in our user’s ability to showcase their
individual impacts and how we affect the overall ecosystem of EV adoption in India.
Feedback has shown that more than two thirds of users of the Savings Tracker feature rate
it favorably and it has seen a monthly usage of 28-30% of the entire Ather Fleet of owners.
Following the release of Savings Tracker and framing the conversation in terms of net At Ather, we have adopted stringent internal standards to ensure the safety and reliability of
savings and CO2 emissions, major EV brands have launched their Tracker equivalents on our scooters and have thoroughly tested them for 100,000 kilometers. We also ensure very
stringent manufacturing controls around safety parameters. At the component and vehicle
their apps or in their marketing materials. As of 31st March2021, it is estimated that the Ather
levels, we perform four types of validation namely functional, durability, reliability, and safety.
fleet of scooters saved an approximate INR 4.05 Cr and an approximate 277 Metric During each phase, Ather scooters go through a range of tests with varying degrees of
Tons of CO2 in net emissions. harshness. These tests are done to ensure no risk of safety hazard to our rider.

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Stories from
Ather Community

Hemanth Anand, Prem Mani,

based in Bangalore, based in Bangalore,
has been a part of has been a part of
Ather’s community Ather’s community
since August 2018. since June 2019.
Here is a glimpse of Here is a glimpse of
his Ather journey his Ather journey
so far. so far.

Why did I choose Ather ? Why did I choose Ather ?

As an engineer, the sheer joy of seeing a well-engineered product is something I have always been committed to sustainable living and been an EV enthusiast for over 2
inexplicable. I saw the scooter for the first time in the Experience Centre back in 2019. Right decades now. As an owner of 2 Ampere V60s (which are super slow) and my very own built
from the naked aluminum chassis, the battery pack immersed in a tub of water, everything e-cycle, I was looking for a performance eBike. At that time, I heard about Ather.
was just about Good Engineering. The person who gave me the test ride vehicle was an Immediately after my first test ride I realized that Ather was the bike I was looking for.
engineer and the person who took me around the experience centre was another engineer I received the delivery of my 1st 450 on my birthday in June of 2019. To date, I have a total of
(I only came to know later that he was the CEO of Ather too). From an aesthetic point of view 4 Athers (one 450, one 450X Series1, one 450X and one 450 plus). My Series1 is my priced
too, what a beautifully sculpted scooter it was. While these were things that impressed me baby, though my first love was the 450 white.
even before I had laid my hands on a scooter, the actual ride was even more impressive.
My experience so far?
The smooth, linear torque delivery, the dramatic yet non-artificial Wheeee sound, the hard
yet perfectly tuned suspension, the HUGE under-seat storage, I was sold! The Ather scooter is a testimony to the quality and performance that Ather promised to its
customer. Its design is unique and its looks beautiful. The huge colour touch screen, a
My experience so far?
reverse gear, OTA updates, the phone connects, maps, phew... and the list goes on... have
I’d like to compare my experience to that of eating some delicious and hot dish - you get contributed to my amazing experience so far. As Ather continues to hone the features and
hiccups but still love the dish. Even today I look forward to twisting the accelerator and performance of their EVs, they are also constantly improving their serviceTAT. I would
going Wheee! My usage is mostly home-work commute and the scooter has performed recommend Ather to anyone who is looking for a comfortable and economical commute -
beyond expectations. Just for the thrill of it, I’ve undertaken some long outside city trips too of course, you will also be doing your bit towards the planet.
and this scooter has come out with flying colours.

Car & Bike Awards: Autocar India Awards:

Electric Two-wheeler of the Year 2021 Green Two-wheeler of the year 2021
Electric Scooter of the Year 2021

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 Innovation Through
Collective Evolution: People Impact
People are at the heart of everything we do at Ather. The power of the collective enables us
to run faster and be nimble to achieve our towering aspirations.

14 % women in the workforce

12. 5 man-days of training per employee
Zero adverse health and safety incidents
Benefits coverage for all team members

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Step Up Program Testimonials

Ather’s Step Up Program

Imparted 240 hours of content
Trained 20 contract Riya Singh
associates over 6 months
Earlier designation – FG & Spares Associate (Contract)
Current Designation - Trainee Supplier Management

“The Step-Up program was a one-of-its-kind program that helped me transition into the
role of a full-time team member at Ather. It enhanced my knowledge and helped me to be
more empathetic in the workplace. I learned how to collaborate and resolve conflicts
among team members. I improved my listening skills by being curious and non-judgmental.
I am now able to ask the right questions and communicate in a more effective manner now
than before as I understand others’ perspectives better. It has made me more open to team
members around me. After attending the Step-Up training, I feel more prepared for the
workplace. I strongly believe that this program will elevate my career path at Ather.”

Mohammed Ayub

Earlier designation – Quality Associate (Contract)

Current Designation - Trainee Manufacturing

To give back to those who supported Ather during its initial stage, we commenced the ‘Step
Up Program’ in 2021, through which 20 of our factory contract associates are being
converted into full-time employees.

We curated a comprehensive learning journey for the first batch of associates who were “The Step-Up program helped me understand behaviors that are essential for my career.
joining us in the capacity of full-time employees. Throughout this journey, our focus was While the technical training improved my knowledge, the behavioral training helped me
on the emotion of belongingness, with the intent to inspire pride, ownership, trust, garner the right attitude in the workplace. I understood the value of words and that has
safety, and togetherness amongst associates. The 6-month traineeship program helped me to communicate effectively. I listen more intently and try to handle tough
included both virtual and in- person sessions to inculcate technical, functional, and situations with calmness and empathy. I can envision us stepping up in our careers and
behavioral skills in the batch bringing about personal growth as well. Thank you so much.”

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Accelerating Ecosystem Partnering with Formula Bharat

Development Formula Bharat is an engineering design competition for students from colleges and
universities all over the country, to compete with a life-size formula-style vehicle in areas of
engineering design, overall cost, marketability, and dynamic performance. Ather has been
2 lac engaged vantage a part of the Formula Bharat journey since 2016. We have supported the platform through
community members. sponsorship of events, employee volunteerism as judging staff, and knowledge
conveyance through our Academy sessions.

Ather Vantage Community

The Ather Vantage community and our initiatives around it form the basis of how we share
our learnings and unlearning from our experience of building indigenous EVs from scratch.
Through collaborations with universities, tech competitions, open knowledge-sharing
sessions on aspects of building an electric ecosystem such as battery tech, vehicle
engineering, and a lot more, while ushering in the electric future collectively. We need to Testimonial from Formula Bharat
think as a species because we cannot make the world go electric in isolation .
“Ather Energy has been a core contributor to the success of our competition and mission.
At Ather, we believe our people are our biggest brand ambassadors, and we are thrilled that We look forward to continuing this journey with the Ather team, to continue fostering this
our communities of students, universities and student-run clubs are an extension of our network of highly talented engineers.”
team. As a hardware start-up, we prioritize diversifying our strengths, our vision, and our
approach, and we attempt to do this through our culture of openness, non-transactional Sharlet Mariados
work driven by curiosity, and unwavering ownership. (Community Sales Manager)

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Together Electric / Partnership SII received a batch of Ather two-wheelers that their employees today use within their Pune
facility. The township of Auroville was our second destination, where Ather vehicles found a
We launched ‘The Together Electric’ program in 2021, which is our effort to take EV place amongst its residents and Kinisi e-Mobility, a venture that promotes sustainable
adoption to the next level. Under this program, we are facilitating the adoption of our EVs travel for residents and guests at Auroville. With HDFC group, we are in the process of
for employees in corporate workplaces, institutions, and communities. This involves enabling EV adoption and infra for their employees, starting with Bengaluru and scaling it up
offering corporate leases, Ather Credits to avail discounts and benefits, and establishing on a pan-India level. Needless to say, we are just getting started. We aim to foster
charging infrastructure in workplaces. Through this program, we partnered with the Serum partnerships with many more corporate entities and organizations and help them make a
Institute of India (SII), the community of Auroville, and the HDFC Group who placed their conscious switch towards creating a sustainable future together. r
unwavering faith in our products while aligning to our true north of creating a future where
electric vehicles are the preferred mode of mobility.

Testimonial

“The aim of Kinisi is to bring electric mobility to all residents, volunteers, workers, and guests
of Auroville. By initiating this pilot project with 25 Ather scooters, we are offering the
employees of Auroville Consulting a sustainable mobility solution. This experiment will help
us find out the viability of the project on a larger scale.”

Debabrata Sahoo
(Consultant – Kinisi Mobility)

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Emerging Stronger 390 Ather employees
availed the ‘Vaccination
Together Leave’ and ‘Wellness Leave’.

The COVID-19 pandemic changed the way we lived and worked. During these
unprecedented times, we took a conscious decision to check for the overall well-being of
our people while they continued to bring great products and processes to life. As the
second wave of the virus challenged our resilience, we introduced the ‘Employee Wellness
Policy’ to ensure that our people can dedicate time to their physical and mental well-being
as well. In addition to the 14 days of paid leave we provided for all team members (full-time,
contractors, and consultants) who tested positive for COVID-19, the ‘Employee Wellness
Policy’ introduced 2 days of ‘Vaccination Leaves’ to help recoup post-vaccination and 5
days of ‘Wellness Leaves’ to focus on mental and physical well-being for all team members.
We also reopened the salary advance policy for all our team members in view of increasing
medical emergencies.

As the vaccination drive started in India,we endeavored to get all our team members and
their families vaccinated. For our employees who were not present in Bangalore at the time,
were reimbursed the cost of vaccination. As we continued to support our people as an
organization, we also took a step further and supported those around us.

We covered 1067 team members and

their families through our vaccination drive

A total of INR 25 lacs reimbursed to 1067

team members for their vaccination HR Testimonial

Right in the middle of May 2021, we had to leverage our brand and resources to get our team
members inoculated. As a hardware start-up, we are an organisation that constantly has to
prioritise one ask over the other. We quickly prioritised the health and wellness of the team
members and their families. We aren't a large organisation so everyone sprang into action,
INR 8 lacs donated to United Ways Bangalore and Aid the Ailing right from the CEO, the CTO, the admin teams, the technology teams, and the entire HR
Association to cover vaccination costs for 558 people
team, to find all possible avenues and get this done.

Rohith Hariharan, Director

(People Operations & Strategy)

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Driving Innovation Through
Sustainable Process: Planet Impact
At Ather, sustainability has been a core driving force
in all our endeavors and operations. As our products
continue to have a direct positive impact on the envi-
ronment, we strongly believe that consistently mini-
mizing environmental footprint is not only good for
the planet but also good for the enterprise

Key indicators of our planet performance:

20% better utilization of truck capacity

Implementation of Energy Management
System
Installation of sewage treatment plant

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Snapshot

Improvement in the utilization of truck capacity

20% better utilization of truck capacity resulted in reducing outbound trip

requirements for delivery of scooters by 17% pan India. As a result, our trucks
travelled 93925 KMs less; saved 13418 litres of diesel and avoided 15 MT of CO2
emission.

Implementation of Energy Management System

We implemented a centralized Energy Management System (EMS) for measuring

location-wise energy consumption and identifying energy guzzlers. The installation
of EMS, led to the identification and subsequent automation of an energy guzzler in
the battery testing station. This resulted in savings of 60 units of electricity per month
since implementation in February 2022.

Heater automation

We automated the working of the heating unit of the phase change machine (PCM) at
the battery assembly line in the Hosur plant. Since its implementation in September
2021, this has resulted in monthly savings of 15 units of electricity.

Sewage Treatment Plan

We installed a Sewage Treatment Plant (STP) at the Hosur plant to treat and reuse
water from canteens and toilets. During the period (April 2021 to March 2022), we
treated 16,30,000 litres of water. 100% of the treated water was used for gardening
and toilet flushing at the plant.

Reduction in the use of corrugated boxes

In FY 21, 26% of our production parts used reusable packaging. This increased to 33%
in FY 22.

Solar power will constitute 10% of our energy consumption by FY23-24

Increasing the usage of reusable packaging for production parts to 50% by FY23

Installation of regenerative dynamometer by FY23 will help us put 10% of the

electricity consumed in the vehicle testing back to the internal grid.

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Multiple Small Initiatives
Helped Us Create A Large Impact

In November 2021 we installed a tap aerator nozzle on all taps which helped us to
save up to 1,274 litres of water a month

In Feb 22 we installed sensor-based taps at all handwash stations which helped us

cut up to 70% of handwash water usage

We replaced CFL light bulbs and installed LED lights across all locations which
helped us save over INR 6 lacs in energy consumption costs

We replaced wooden beverage stirrers (8000-10000 stirrers used per month) with
stainless steel stirrers to reduce operational wastes

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Championing Effective
Governance: Policy Impact
Ather has set high standards for itself across various
policy and governance aspects.

Key indicators of our policy performance:

100% employees trained on PoSH

No cases of bribery and corruption

At Ather, we have set high standards to champion effective corporate governance. We

continue to exemplify transparent and responsible communication with all our employees.
All employees were trained on prevention of sexual harassment and intellectual property,
as also on our Code of Conduct.
During the year, there were no cases of bribery and corruption,
IP breaches, or harassment.

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Supporting Materiality Matrix - Ather Energy
The Delivery Of SDGs
We have conducted a materiality assessment internally to identify and prioritize key issues
Through our work we are committed to continuously contribute to the UN area Sustainable that are of utmost importance to our business and stakeholders. We have made significant
Development Goals (SDGs). During the year, we positively impacted the following goals: progress in some of these areas in the past and will continue to do so in the future. Though
these issues are related to our business, they have a potential impact on the environment,
society and governance at large. We will build our business activities to address and focus
on these areas.

Sustainable Innovation

Importance to Stakeholders
& Technology Regulatory
Compliance
Global Greenhouse Gases & Emissions Management
Customer Satisfaction
Waste Management

Energy & Water Management Ethics & Integrity

Economic Performance
Talent Management & Development

Diversity & Inclusion

Impact on Ather Energy

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Epilogue : Comprehensive Impact
Vision 2030 Assessment Methodology
This Decade is going to see a huge progress in the EV revolution in India. Especially in the Aspire uses its proprietary 4P framework to assess an organization’s impact across
two wheeler segment we expect the electrification to reach about 70%. This will help in the Product, Planet, People and Policy. These are further broken down into 15 categories and
reduction of about 11 Billion Kg of CO2/Year. Ather is leading this revolution by creating 31 sub-categories, with more than 250+ metrics being collected and analysed. We award
products which are being used as a primary mode of transport. As part of Ather’s vision the companies a specific rating, on impact, based on the outcomes of the impact assessment.
2030 to lead this revolution in future as well we would work towards creating a Our Assessment Procedure:
comprehensive ecosystem through our initiatives in technology development, design and
Review the materiality and context of the company based on their sector and stage
development of a comprehensive public charging infrastructure, creating highest level of
safety standards across our value chain, and creating a pool of skilled manpower across Collect data to feed into Aspire's proprietary 4P impact assessment framework
domains. On the other hand we aim to continue improving all the processes in our Value Sample testing to verify data and information provided
chain to achieve Carbon Neutrality and reduce our dependence on natural resources e.g. Interviews with senior leadership to understand risks and opportunities from an
Water etc. impact perspective
Development of a 6-level impact assessment report to be shared with the company
for internal use – outlining their current score at a KPI level and also providing a list of
recommendations to enhance their impact
Development of an impact report, which the company may share with external
audiences.

Our Ratings

Our four-point rating system across 6 levels provides an empirical improvement roadmap
for companies to prioritize their efforts and address key areas for maximum Impact.

Green >1.0 Silver >1.5 Gold >2.5 Platinum >3.5

Scope and Limitations

Our assessment has been based on the data provided by the company. The reporting data
and information collected was for the period April 1, 2020 to March 31, 2021. The scope
excluded verification of the data and information provided, involving an independent auditor.
Data and information in the report outside of the reporting period was not subject to verification.

Data
The management of Ather Energy has sole responsibility for the collection, reporting and
integrity of the data shared with us during the assessment of the report. In performing the
assessment work, our responsibility is to the Management; however, this statement
represents our independent opinion and is intended to inform the outcome of our analysis
to the stakeholders of Ather Energy.

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