Mr. Allen Davidoff reports

XORTX ANNOUNCES US$5 MILLION PUBLIC OFFERING

XORTX Therapeutics Inc. has priced a public offering of 2,659,574 common shares or common shares equivalent in lieu thereof (prefunded warrants) at an offering price of $1.88 (U.S.) for gross proceeds of $5-million (U.S.), prior to deducting placement agent fees and other offering expenses. The prefinanced warrants have an exercise price of 0.01 U.S. cent per share, will be immediately exercisable and will terminate once exercised in full.

The offering is expected to close on or about May 15, 2026, subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

E.F. Hutton & Co. is acting as exclusive placement agent for the offering.

The securities described above are being offered pursuant to a registration statement on Form F-1 (file No. 333-290512), which was declared effective by the U.S. Securities and Exchange Commission (SEC) on May 13, 2026. The offering is being made only by means of the prospectus forming part of the effective registration statement relating to the offering. A final prospectus relating to the offering will be filed with the SEC. Copies of the final prospectus relating to the offering may be obtained, when available, by contacting E.F. Hutton & Co., 745 Fifth Ave., 34th floor and penthouse, New York, N.Y., 10151, or by e-mail at efhcapitalmarkets@efhutton.com. Investors may also obtain these documents at no cost by visiting the SEC's website.

About XORTX Therapeutics Inc.

XORTX is a pharmaceutical company with three clinically advanced products in development: (1) the company's lead program, XRx-026, for the treatment of gout; (2) the XRx-008 program for ADPKD (autosomal dominant polycystic kidney disease); 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, and the recently acquired VB4-P5 program, which is currently at the pre-IND (investigational new drug) stage of development and targets both rare and prevalent forms of kidney disease. XORTX is working to advance products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX, the company 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.