Mr. Allen Davidoff reports

XORTX ANNOUNCES SHARE CONSOLIDATION

XORTX Therapeutics Inc.'s board of directors has approved consolidating its common shares on the basis of one postconsolidation share for every five preconsolidation shares, effective March 27, 2025. The company will not undergo a name change in connection with the consolidation.

The consolidation has been approved by the TSX Venture Exchange and follows approval of a consolidation of the shares on the basis of a range of up to five preconsolidation shares for every one postconsolidation share at the annual and special meeting of shareholders of the company held on March 24, 2026. As a result of the consolidation, the number of issued and outstanding shares will be reduced from 6,962,218 to approximately 1,392,444, subject to adjustment for rounding. No fractional shares will be issued in connection with the consolidation. In the event a holder of common shares would be entitled to fractional common shares as the result of the consolidation, the fractional common shares shall be either: (i) cancelled, if less than one-half of a full common share; or (ii) rounded up to the nearest whole number, if greater than or equal to one-half of a full common share. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and/or the number of shares issuable under any of the company's outstanding convertible securities will be proportionately adjusted in connection with the consolidation.

The reason for the consolidation is to maintain compliance with: (i) Nasdaq's continual listing requirements (namely, that the company's shares trade above $1); and (ii) Nasdaq's condition for the company that its shares trade above $1 for 10 days by April 13, 2026.

The shares will continue to trade on the TSX-V and the Nasdaq Capital Market under the symbol XRTX on a postconsolidation basis, under a new Cusip number, 98420Q405. The shares are expected to begin trading on a postconsolidation basis on the TSX-V and Nasdaq when markets open on or about Friday, March 27, 2026.

Shareholders of record as of the effective date will receive a letter of transmittal from TSX Trust Company, the transfer agent for the shares, providing instructions for the exchange of its shares as soon as practicable following the effective date. Until surrendered, each share certificate representing preconsolidation shares will represent the number of whole postconsolidation shares to which the holder is entitled as a result of the consolidation.

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.

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