An anonymous director reports

AURORA REPURCHASES ~$22 MILLION PRINCIPAL AMOUNT OF CONVERTIBLE NOTES, SAVING $1.2 MILLION IN ANNUALIZED INTEREST PAYMENTS AND LEAVING ~$79 MILLION (US$59) OF NOTES OUTSTANDING; BALANCE SHEET REMAINS AMONG STRONGEST IN CANADIAN CANNABIS INDUSTRY

Aurora Cannabis Inc. has repurchased an aggregate of approximately $22.3-million ($16.6-million (U.S.)) principal amount of its convertible senior notes in multiple transactions since the start of April, 2023, at a total cash cost, including accrued interest, of $16.7-million ($12.4-million (U.S.)) and $5.3-million ($4.0-million (U.S.)), including accrued interest, satisfied by the issuance of an aggregate of approximately 6.35 million common shares of Aurora. In total, these transactions will save Aurora $2.6-million in annualized interest payments. Following completion of these repurchases, Aurora will have approximately $79-million ($59-million (U.S.)) of notes outstanding.

The purpose of the transactions was to reduce the company's debt and annual cash interest costs, reinforcing its commitment to financial discipline. Aurora has repurchased an aggregate of approximately $385-million ($286-million (U.S.)) principal amount of its convertible senior notes since December, 2021, resulting in annual cash interest savings of approximately $21-million ($16-million (U.S.)).

Aurora's balance sheet remains amongst the strongest in the Canadian cannabis industry. Having achieved the goal of adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) profitability for the quarter ended Dec. 31, 2022, Aurora expects to continue to focus on profitable growth in both global medical and Canadian adult use markets.

About Aurora Cannabis Inc.

Aurora is opening the world to cannabis, serving both the medical and consumer markets. Headquartered in Edmonton, Alta., Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Whistler, Being and Greybeard, as well as cannabidiol brands, Reliva and KG7. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched.

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