Mr. Miguel Martin reports

AURORA CANNABIS ANNOUNCES SALE OF AURORA SUN FACILITY TO BEVO EXPECTED TO PROVIDE INCREMENTAL REVENUE AND CASH FLOW

A wholly owned subsidiary of Aurora Cannabis Inc. closed the sale of its Medicine Hat, Alta., facility (the Aurora Sun facility) on July 21, 2023, to Bevo Farms Ltd., a wholly owned subsidiary of Bevo Agtech Inc. The sale of the Aurora Sun facility was completed via Bevo Farms' acquisition of one of Aurora's wholly owned subsidiaries. Aurora has a controlling interest in Bevo, one of the largest suppliers of propagated vegetables and ornamental plants in North America.

Up to $15-million could be payable over time by Bevo Farms to Aurora in connection with the Aurora Sun transaction, based on Bevo Farms successfully achieving certain financial milestones at the Aurora Sun facility.

"I am pleased that this transaction will achieve the dual objectives of improving Aurora's cash flow while benefiting Bevo as they proceed with the expansion of their business," said Aurora's chief executive officer, Miguel Martin. "Bevo has successfully repurposed the Aurora Sky facility in Edmonton, and we're excited to further support their continued growth. Bevo's acquisition of the Aurora Sun facility further demonstrates the close synergies between our companies, and the value that our partnership creates for shareholders."

Leo Benne, CEO of Bevo, added: "Bevo's ability to deliver propagated plants directly from Medicine Hat to the Alberta greenhouse industry and beyond delivers a win for the Alberta greenhouse industry, the city of Medicine Hat and its residents, for Bevo, and for Aurora. We would like to express our gratitude to the city of Medicine Hat for their essential contributions to this transaction. We look forward to further developing our partnerships in Alberta in the years to come."

Strategic highlights:

• Accelerates Bevo's plans to increase revenue and earnings, which will be fully consolidated in Aurora's results due to Aurora's controlling interest;
• Builds on Bevo management's strong record of profitable growth and combined 85 years of agricultural experience to expand its vegetable and floral propagation production footprint, allowing the company to further extend its established distribution reach;
• Expected reduction of approximately $2-million annual carrying costs associated with maintaining the Aurora Sun facility as an idle asset.

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., as well as international brands Pedanios, Bidiol and CraftPlant. Aurora also has a controlling interest in Bevo Farms, 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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