An anonymous director reports

AURORA CONFIRMS APPROVAL OF TRANSFER TO NASDAQ CAPITAL MARKET; ENTERS INTO AGREEMENT TO REPURCHASE A FURTHER ~ US$9.6 MILLION PRINCIPAL AMOUNT OF CONVERTIBLE NOTES

Aurora Cannabis Inc. has received approval to transfer the listing of its common shares from the Nasdaq Global Select Market to the Nasdaq Capital Market. The transfer became effective at the opening of business on Sept. 19, 2023, and is expected to allow the company to seek an additional 180 days to regain compliance with the Nasdaq Listing Rule 5450(a)(1) (the minimum bid price requirement). Additionally, Aurora announced today that it has agreed to repurchase an aggregate of approximately $13-million ($9.6-million (U.S.)) principal amount of its convertible senior notes at a total cost, including accrued interest, of $13-million ($9.6-million (U.S.)), satisfied by the issuance of an aggregate of approximately 13.5 million shares. Following completion of these repurchases, Aurora will have approximately $39.6-million ($29.2-million (U.S.)) of notes outstanding.

As previously disclosed, Nasdaq advised Aurora on March 24, 2023, that the bid price of the shares had closed at less than $1 (U.S.) per share over the previous 30 consecutive business days, resulting in a deficiency with the minimum bid price requirement, and the company was given a period of 180 calendar days, or until Sept. 20, 2023, to regain compliance with the minimum bid price requirement. In connection with the transfer, Aurora has applied for, and expects to receive, an additional 180-calendar-day period in which to regain compliance with the minimum bid price requirement. Approval for the additional 180-calendar-day period is conditioned upon Aurora continuing to meet certain Nasdaq minimum listing standards and Aurora notifying Nasdaq of its intention to cure the deficiency.

The shares continue to trade in the United States under the symbol ACB and the trading of the shares will not be affected by the transfer. In addition, the shares continue to be listed on the Toronto Stock Exchange, and the deficiency does not affect the company's status with its TSX listing. Aurora will continue actively monitor the bid price for its shares and is considering a range of options in order to cure the deficiency.

The purpose of the notes repurchase transaction is to further reduce the company's debt and annual cash interest costs, reinforcing Aurora's commitment to achieving the target of positive free cash flow in calendar-year 2024. Aurora has repurchased an aggregate of approximately $428-million ($316-million (U.S.)) principal amount of notes since December, 2021, resulting in total cash interest savings of approximately $32-million ($24.1-million (U.S.)).

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. 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 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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