On the risk of delisting of Class A ordinary shares of Rani Therapeutics Holdings, Inc. (RANI)

The International Trading System Limited (hereinafter — ITS) informs on the information concerning delisting risk of Class A ordinary shares of Rani Therapeutics Holdings, Inc. (ISIN US7530181004, Shares) from The Nasdaq Stock Market LLC (Nasdaq).

Information on delisting risk of ordinary shares by Nasdaq

On March 31, 2025, Rani Therapeutics Holdings, Inc. (the Company) submitted Annual report on Form 10-K to The United States Securities and Exchange Commission. According to the report, the Company has incurred recurring losses, negative cash flows and limited cash resources which are insufficient to support its operations and planned research activities for the next 12 months. These conditions led the Company’s management to raise substantial doubt about its ability to continue as a going concern for more than twelve months from the date of these financial statements. For more information, please refer to the report available on the SEC website.

Previously, similar statements were made in the Company’s Quarterly reports on Form 10-Q.

Information regarding possible actions to be taken by ITS

If Nasdaq suspends trading in the Company’s ordinary shares, ITS will prohibit submission of orders and will restrict ability to conclude agreements in respect of the Company’s ordinary shares. If the Company’s ordinary shares are delisted from Nasdaq, ITS will terminate trading in the Company’s ordinary shares. However, in case the Company’s ordinary shares become listed, or admitted to trading on another Recognised Trading Venue, ITS will consider but does not guarantee continuation of trading in the Company’s ordinary shares.