Aurora Cannabis Inc. was incorporated under the Business Corporations Act of British Columbia on December 21 2006 as Milk Capital Corp and changed its name to Aurora Cannabis Inc on October 2 2014. The company is headquartered in Edmonton Alberta with its registered office in Vancouver British Columbia. Aurora Cannabis Inc. produces distributes and sells cannabis and cannabis derivative products in Canada and in international markets and also engages in the propagation of vegetables and floral plants. Its shares trade on the Nasdaq Capital Market and the Toronto Stock Exchange under the ticker ACB and on the Frankfurt Stock Exchange under 21P. The company operates cultivation facilities in several Canadian provinces and maintains production sites in Europe to serve its international medical customers.

Aurora Cannabis Inc. generates revenue primarily from the sale of medical cannabis products to patients and from the sale of adult use cannabis products to recreational consumers in Canada. The company also sells cannabis derivatives such as oils and capsules in its medical markets. Revenue is derived from a direct to patient sales channel in Canada that does not rely on provincial wholesalers or private retailers and allows the company to achieve sustainable gross profit margins better than 60 percent. In international markets Aurora Cannabis Inc. sells medical cannabis through distribution agreements in Germany the United Kingdom Poland and Australia. Additionally Aurora Cannabis Inc. earns income from the propagation and sale of vegetables and floral plants and from licensing its proprietary genetics and breeding outcomes to third parties. The company’s revenue also includes proceeds from the sale of cannabis derived products in its international medical segments.

The company operates through the following segments.

• The Medical Cannabis segment focuses on the production distribution and sale of pharmaceutical grade cannabis products to patients in Canada Germany the United Kingdom Poland and Australia using a direct to patient sales model that does not rely on provincial wholesalers or private retailers and adheres to European Union Good Manufacturing Practices standards. The segment benefits from the company’s regulatory expertise across multiple jurisdictions and its ability to export cannabis that meets strict quality requirements. In Germany Aurora is one of three active in country producers of medical cannabis holding a production and research and development license under the German cannabis law. The company’s Australian operations are conducted through its subsidiary MedReleaf Australia which distributes medical cannabis products in Australia and has expanded sales into New Zealand.

• The Consumer Cannabis segment produces and sells adult use cannabis products in the Canadian market emphasizing high THC and terpene levels and distinctive consumer experiences supported by the company’s genetics and breeding program. The segment focuses on high potency flower varieties that have been developed through the company’s indoor cultivation techniques and post harvest processing improvements. These efforts have reduced per unit production costs by thirty percent or more compared with legacy cultivars. Aurora continues to expand its consumer portfolio by introducing new cultivars such as Cosmic Cream Pink Diesel Chemango Kush and Black Jelly into additional markets worldwide at increasing potency.

• The Vegetation and Floral Propagation segment is engaged in the indoor propagation of vegetables and floral plants supplying fresh produce and ornamental plants to agricultural and retail customers. The segment operates controlled environment facilities that optimize yield and quality while minimizing resource use. Aurora’s propagation business leverages its expertise in horticulture to provide consistent supplies of vegetables such as lettuce and herbs and floral plants such as cut flowers to distributors and grocers.

Aurora Cannabis Inc. holds a leading market position in the medical cannabis sectors of Canada Germany the United Kingdom Poland and Australia and is regarded as one of the foremost producers in the European medical cannabis market. The company’s competitive advantages stem from its proprietary genetics and breeding program its regulatory expertise across multiple jurisdictions its European Union Good Manufacturing Practices certification and its scalable cultivation and distribution infrastructure. Aurora’s science leadership in cannabis genetics has yielded twenty six proprietary cultivars since June 2021 and continues to deliver new traits such as powdery mildew resistance that enhance crop quality and reduce cultivation costs. The company’s direct to patient model in Canada provides it with pricing power and margin advantages over the adult use segment while its international medical operations benefit from early mover status in several regulated markets.

Aurora Cannabis Inc. serves medical patients in Canada Germany the United Kingdom Poland and Australia and recreational adult use consumers in Canada. The company also supplies vegetables and floral plants to agricultural businesses and retail outlets and collaborates with distribution partners in its international medical markets. In Australia the company reaches patients through its subsidiary MedReleaf Australia which distributes medical cannabis products and has expanded sales into New Zealand. Aurora’s genetics and breeding outcomes are licensed to other Canadian licensed producers expanding the reach of its intellectual property beyond its own cultivation footprint.