Mr. Miguel Martin reports

AURORA REPURCHASES ~US$9.0 MILLION PRINCIPAL AMOUNT OF CONVERTIBLE NOTES; CONTINUES PROGRESS TOWARDS POSITIVE FREE CASH FLOW WITH LESS THAN approximately US$39 MILLION OF NOTES OUTSTANDING

Aurora Cannabis Inc. has repurchased an aggregate of approximately $12.3-million ($9.0-million (U.S.)) principal amount of its convertible senior notes in multiple transactions between Aug. 16 and Sept. 8, 2023, at a total cash cost of $12.3-million (approximately $9.0-million (U.S.)), including accrued interest, satisfied by the issuance of an aggregate of approximately 20.1 million common shares of Aurora Cannabis. Following completion of these repurchases, Aurora Cannabis will have approximately $53-million ($39-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 achieving its target of positive free cash flow in calendar year 2024. In total, the transactions announced today will save Aurora Cannabis $660,000 in annualized interest payments. Aurora Cannabis has repurchased an aggregate of approximately $419-million ($306-million (U.S.)) principal amount of its convertible senior notes since December, 2021, resulting in total cash interest savings of approximately $31.7-million ($23.9-million (U.S.)).

"As of today, Aurora has reduced its convertible debt from $345-million (U.S.) to below $39-million (U.S.)," stated Aurora Cannabis's chief executive officer Miguel Martin. "With one of the strongest balance sheets of the Canadian [licensed producers] evidenced by our net cash position and continued commitment to prudent fiscal management, we are confident in our ability to achieve our target of positive free cash flow within calendar year 2024."

About Aurora Cannabis Inc.

Aurora Cannabis is opening the world to cannabis, serving both the medical and consumer markets. Headquartered in Edmonton, Alta., Aurora Cannabis 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. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. Aurora Cannabis 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 Cannabis's brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched.

Aurora Cannabis's common shares trade on the Nasdaq and the Toronto Stock Exchange under the symbol ACB.

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