Rani Therapeutics Holdings Inc

Our corporate headquarters are currently located in San Jose, California. We lease approximately 88,000 square feet of office, research and development, production and manufacturing, and laboratory space for our business. In February 2024, we began occupying approximately 33,000 square feet in Fremont, California under a lease with a third party. The term of the lease is 63 months. Subject to certain conditions, we have an option to renew the lease for one additional 5-year term at the then-prevailing market rate. We also lease approximately 55,0000 square feet in San Jose and Milpitas, California and San Antonio, Texas, pursuant to service agreements with ICL, a related party. The lease for the San Jose facility has a twelve month term that renews automatically on January 1st of each year for a successive twelve month period, subject to termination by either party upon a six months’ notice. In March 2024, we amended our lease for the San Jose facility to increase our use from 23,000 square feet to 24,000 square feet. In March 2024, we also extended the term of our lease for the Milpitas facility from February 2024 to August 2024. We intend to transition certain of our operations to the Fremont facility so that we will no longer need the space in Milpitas, California. Our San Antonio lease will continue until terminated by either party upon six months’ notice. We provided to ICL notice of termination of the San Antonio lease in December 2023. The lease will terminate in June 2024. If required, we believe that suitable additional or alternative space would be available in the future on commercially reasonable terms.