X0206 3/A 2021-07-29 2021-07-29 0 0001856725 Rani Therapeutics Holdings, Inc. RANI 0001031686 IMRAN MIR A C/O RANI THERAPEUTICS LLC 2051 RINGWOOD AVE. SAN JOSE CA 95131 1 0 0 0 Class A Common Stock 829435 I See footnote Class B Common Stock 24954843 I See footnote Class A Common LLC Units Class A Common Stock 24954843 I See footnote This amendment is being filed to correctly reflect the shares held indirectly. Represents 378,533 shares of Class A Common Stock of the Issuer ("Class A Shares") held by Biologix Partners, LP and 450,902 Class A Shares held by VH Rani, LP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. Represents 22,389,982 shares of Class B Common Stock of the Issuer ("Class B Shares") held by InCube Labs, L.L.C., 2,492,441 Class B Shares held by InCube Ventures II, L.P. and 72,420 Class B Shares held by Rani Investment Corp. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. 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 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. /s/ Josh Seidenfeld, Attorney-in-Fact for Mir Imran 2021-08-02