Mr. Allen Davidoff reports

XORTX ANNOUNCES USD $925,000 PRIVATE PLACEMENT

XORTX Therapeutics Inc. has arranged a non-brokered private placement to raise up to $925,000 (U.S.) through the issuance of up to 1,267,123 common share units of the company at a price of 73 U.S. cents per unit. Each unit will comprise one common share and one common share purchase warrant. Each warrant will entitle the holder, on exercise, to purchase one additional common share in the capital of the company, at a price of $1.20 (U.S.) per warrant until the close of business on the day which is 60 months from the closing date, provided, however, that, if the closing price of the common shares on Nasdaq is greater than $2 (U.S.) for 10 or more consecutive trading days, the warrants will be accelerated, and the warrants will expire on the 30th business day following the date of such notice. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the units will be offered for sale to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the Listed Issuer Financing Exemption). Because the offering is being completed pursuant to the listed issuer financing exemption, the securities issued in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The company may pay finders' fees on a portion of the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The securities issued pursuant to the offering have not been registered under the Securities Act. Accordingly, the units acquired by investors in the United States will be restricted securities (as defined in Rule 144 under the Securities Act), subject to restrictions on resale under the Securities Act, until registered under the Securities Act.

The net proceeds from the offering will be used to advance XORTX's programs for gout and for working capital and general corporate purpose.

The closing date of the offering is expected to occur on or about July 4, 2025, or such later date or dates as the company may determine, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including approval from the TSX Venture Exchange.

About XORTX Therapeutics Inc.

XORTX is a pharmaceutical company with three clinically advanced products in development: (1) its lead program XRx-026 program for the treatment of gout; (2) XRx-008 program for ADPKD; and (3) XRx-101 for acute kidney and other acute organ injury associated with respiratory virus infections. In addition, the company is developing XRx-225, a preclinical-stage program for Type 2 diabetic nephropathy. XORTX is working to advance products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX, it is dedicated to developing medications that improve the quality of life and health of individuals with gout and other important diseases.

We seek Safe Harbor.