[PRESS RELEASE] – EDMONTON, Alberta, Aug. 11, 2026 – Aurora Cannabis Inc., the Canadian-based leading global medical cannabis company, responded to a press release issued by Curaleaf Holdings Inc. regarding its stated intention to launch an unsolicited takeover bid for all of the issued and outstanding common shares of the company (the "Aurora shares") at a stated implied consideration of US$4 per share, consisting of 0.3463 subordinate voting shares of Curaleaf plus US$0.75 in cash per Aurora share (the "proposal").
Aurora confirms that it received letters from Curaleaf dated June 23, 2026, and July 7, 2026, outlining proposals to acquire the Aurora shares. Only the July 7, 2026, letter included any proposed financial terms, and it did not include any detail regarding the mix of cash and share consideration being proposed by Curaleaf. We note that the current proposal added a cap on the value of the consideration of US$5 per Aurora share, which is a lower price than Aurora shares have traded as recently as Dec. 18, 2025.
The proposal was not initiated or solicited by Aurora. The Aurora Board of Directors, in keeping with its fiduciary duties to act in the best interests of Aurora and all of its stakeholders, carefully considered the prior proposals from Curaleaf as it reviews any proposals received regarding potential transactions in light of other available strategic alternatives and Aurora's strategic plans.
In particular, Aurora's recently completed acquisition of the Safari Flower Co. builds on Aurora's global medical cannabis platform and leverages its diversified and scaled network and strong balance sheet to build sustainable, long-term shareholder value. As noted by Curaleaf, Aurora's growing EU-GMP cultivation and manufacturing capacity is highly strategic. Aurora continues to evaluate additional opportunities to expand this capacity and add shareholder value.
Contrary to the assertion that Aurora refused to engage, Aurora's lead independent director did correspond with Curaleaf's CEO, including as recently as July 24, 2026, noting that Aurora was focused on continuing to execute on its business plan over the short to medium term, and did not discourage an ongoing dialogue between the parties going forward.
The board intends to form a special committee of independent directors to consider the proposal, with a view to determining the course of action that is in the best interests of the company and all stakeholders.
No decision has been made with respect to the proposal, and there can be no assurance that the proposal will result in any transaction. Aurora continues to operate its business as usual while executing on its announced strategic plans.
Aurora shareholders do not need to take any action at this time. The company does not intend to make any further public comment regarding the proposal or the review process unless and until it determines that additional disclosure is in the best interests of shareholders or required by law.
