[PRESS RELEASE] – STAMFORD, Conn., Aug. 24, 2026 – Curaleaf Holdings Inc., a leading international provider of consumer and medical cannabis products, responded to Aurora Cannabis Inc.'s latest public statements regarding Curaleaf's offer for Aurora:
"Aurora's hollow protests and completely misleading statistics change nothing about reality: If its multi-year turnaround strategy were delivering the value management claims, the company's valuation would reflect it. Aurora has repeatedly failed to demonstrate both a credible plan and the ability to execute, resulting in significant lost shareholder value.
“It's time to focus on the facts.
“Curaleaf is offering shareholders a substantial premium and the opportunity to participate in the upside of a larger, stronger global platform led by a management team with a proven track record of creating shareholder value. Curaleaf is ready to deliver value to Aurora shareholders, as it has for Curaleaf's shareholders.
“The market has spoken. Aurora shareholders have waited long enough. They deserve results and they deserve value now."
Curaleaf Fully Rejects Aurora's Characterization of Discussions Between the Two Companies:
"Aurora's attempt to mischaracterize 'engagement' is disappointing and insulting to shareholders. We have not had a single conversation on the substance of a deal. Everyone involved in these types of discussions knows the difference. We have posted this correspondence in full on our website: grow.curaleaf.com.
“Our bid is based on the latest numbers that were published on August 5, 2026, which is what we and the market are aware of. If Aurora has better information, we welcome the opportunity to review it. But they have refused to engage, refused to sign an NDA, refused a site visit despite posturing that they have been 'open.' That's not true constructive engagement.
“We continue to remain willing to meet anytime to discuss a deal."
Aurora's Efforts to Highlight Select Operating Metrics Ignore Broader Performance Trends:
Aurora continues to cherry-pick statistics that present an incomplete picture of the business. Shareholders deserve to understand the full context:
- Shareholder value under Aurora management has suffered: Aurora shareholders have endured the multi-year transformation that will not end but has cost more than C$400M in inventory impairments and "business transformation costs" under current leadership. Meanwhile, Aurora's shares declined approximately 35% over the past year through Aug. 10, 2026, while Curaleaf's shares increased approximately 56%.
- Aurora's statements regarding 17% international growth are misleading: Aurora cites supposed international growth while ignoring recent declines in the size of that business, which generated approximately C$5 million less revenue in June than it did just three months earlier. Aurora reported June quarter adjusted EBITDA that was 63% lower than the March quarter, and that result included approximately C$5.1 million of business transformation cost add-backs. Excluding those add-backs, adjusted EBITDA would have been meaningfully negative, while cash flow from operations was negative C$4.4 million.
- Aurora's attempts to dismiss cultivation data taken directly from its own public disclosures: Our bid relies on cultivation metrics of 114 grams per plant that are taken straight from Aurora's latest audited fiscal 2026 financial statements. Curaleaf's cultivation yields are more than double the 114 grams per plant disclosed in Aurora's public filing. If there is better information available, shareholders deserve to see it.
- Aurora's own guidance points to a business that is expected to become smaller and less profitable in fiscal 2027: Aurora is guiding to revenue levels approaching fiscal 2025 levels, adjusted gross margins declining from approximately 64% to the mid-to-high 50% range, and lower adjusted EBITDA. These are not the characteristics of a business delivering the value creation management claims.
The Market Has Responded Favorably to Curaleaf's Offer:
"Aurora's share price increased materially following the announcement of Curaleaf's offer and has traded near the implied value of Curaleaf's proposal. This demonstrates that investors recognize the value and strategic logic of the transaction.
“Curaleaf has put forward a substantial premium and a credible strategic rationale. The market appears to understand the value proposition, even if Aurora's management continues to dismiss it. Curaleaf remains ready to engage constructively at any time."
Aurora shareholders are urged to read the offer documents carefully and in their entirety. They are also available on Curaleaf's website and on SEDAR+ (sedarplus.ca) and EDGAR (sec.gov), and Aurora shareholders are encouraged to visit https://grow.curaleaf.com/ for additional information regarding the offer, including the strategic rationale for the offer, expected benefits of the combination of the two companies, FAQs and other relevant materials.
