Ms. Celia Economides reports

AURINIA PRICES US$150.5 MILLION PUBLIC OFFERING OF COMMON SHARES

Aurinia Pharmaceuticals Inc. has priced its underwritten public offering of 22.3 million common shares. The shares are being sold at a public offering price of $6.75 (U.S.) per share. The gross offering proceeds to the company from this offering are expected to be approximately $150.5-million (U.S.), before deducting underwriting discounts and commissions and other estimated offering expenses. All of the shares are being offered by the company. The offering is expected to close on or about March 20, 2017, subject to the satisfaction of customary closing conditions.

Leerink Partners LLC and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. The company has granted the underwriters an option exercisable, in whole or in part, in the sole discretion of the underwriters, to purchase 3,345,000 additional shares, for a period of up to 30 days.

The offering is subject to customary closing conditions, including Nasdaq Stock Market and Toronto Stock Exchange approvals. For the purposes of the TSX approval, the company intends to rely on the exemption set forth in Section 602.1 of the TSX company manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq. The company intends to use the net proceeds of the offering for research and development activities, including phase 3 clinical trial activities for lupus nephritis, and working capital purposes.

About Aurinia Pharmaceuticals Inc.

Aurinia is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies to treat targeted patient populations that are suffering from serious diseases with a high unmet medical need. The company is currently developing voclosporin, an investigational drug, for the treatment of lupus nephritis (LN).