Announcement • May 19
Onconetix, Inc. Announces 1-For-10 Reverse Stock Split to Maintain Compliance with the Minimum Bid Price Requirement Onconetix, Inc. announced that its Board of Directors has approved a 1-for-10 reverse stock split of its outstanding shares of common stock, to be effective on May 21, 2026. On April 30, 2026, Onconetix held a special meeting of stockholders, at which the Company's stockholders approved a proposal to effect one or more reverse splits, at a ratio in the range of 1-for-2 to 1-for-10, at any time prior to the one-year anniversary date of the Special Meeting, with such ratio to be determined by the Board without further approval or authorization of the stockholders, provided that the Company shall not effect reverse stock splits that, in the aggregate, exceed 1-for-100. Since the receipt of such stockholder approval, the Company's Board of Directors has determined to fix a split ratio of 1-for-10 shares. The Company's common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on May 21, 2026. Following the reverse stock split, the Company's common stock will continue to trade on The Nasdaq Capital Market under the symbol ONCO under the new CUSIP number 68237Q 401. The reverse stock split is intended to enable the Company to maintain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on The Nasdaq Capital Market. At the effective time of the reverse split, every 10 issued and outstanding shares of the Company's common stock will be converted automatically into one share of the Company's common stock without any change in the par value per share. No fractional shares will be issued in connection with the reverse stock split, and fractional shares resulting from the reverse stock split will be canceled with the holders thereof receiving cash compensation. The amount of compensation will be determined by multiplying the fractional share by the closing price per share of the Company's common stock on The Nasdaq Capital Market at the close of business on the trading day prior to the effective date of the reserve stock split, or May 21, 2026. The reverse split will have no effect on the number of authorized shares of the Company's common stock, and the ownership percentage of each stockholder will remain unchanged other than as a result of fractional shares. The reverse stock split will additionally apply to the Company's common stock issuable upon exercise or conversion of the Company's equity awards, convertible preferred stock and warrants, as well as the applicable exercise price. Reported Earnings • May 14
First quarter 2026 earnings released: US$6.71 loss per share (vs US$197 loss in 1Q 2025) First quarter 2026 results: US$6.71 loss per share (improved from US$197 loss in 1Q 2025). Net loss: US$4.21m (loss narrowed 51% from 1Q 2025). Board Change • Mar 31
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Thomas Meier is the most experienced director on the board, commencing their role in 2024. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. 
