X0206 3 2021-07-29 0 0001856725 Rani Therapeutics Holdings, Inc. RANI 0001873082 InCube Labs, L.L.C. 2051 RINGWOOD AVE. SAN JOSE CA 95131 0 0 1 0 Class B Common Stock 30295093 D Class A Common LLC Units Class A Common Stock 30295093 D Represents Common LLC Units of Rani Therapeutics, LLC, a direct subsidiary of the Issuer. The Common LLC Units are redeemable at the election of the Reporting Person at any time for newly-issued Class A Common Stock of the Issuer ("Class A Shares") on a one-for-one basis or, if mutually agreed with the Issuer, a cash payment equal to the volume weighted average market price of one Class A Share for each Common LLC Unit redeemed (subject to customary adjustments, including for stock splits, stock dividends and reclassifications). However, the Issuer may elect to effect a direct exchange of such Class A Shares (or such cash, if mutually agreed) for such Common LLC Units. Upon the redemption or exchange by the Reporting Person of any Class A Common LLC Units, a number of Class B Common Stock of the Issuer ("Class B Shares") held by the Reporting Person equal to the number of Common LLC Units that are redeemed or exchanged will be automatically cancelled by the Issuer for no consideration. Exhibit 24 - Power of Attorney /s/ Josh Seidenfeld, Attorney-in-Fact for Mir Imran, President of InCube Labs, LLC 2021-07-29