Aurora Cannabis Inc. · TSX:ACB
Aurora Cannabis — Q2 2026 Earnings Presentation
15 slides from Aurora Cannabis's earnings presentation, Nov 5, 2025
Slide 1: Investor Presentation FY26 Q2
INVESTOR PRESENTATION FY26 Q2 November 2025
Slide 2: Disclaimer
Disclaimer CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information contained in this presentation constitutes tariffs imposed on goods imported from Canada into the United States, the ability to retain key personnel, the ability to continue forward-looking statements under applicab
Slide 3: Key Investment Highlights
Key Investment Highlights ▪ High-growth, high margin Global Medical cannabis focus ▪ Aurora is Canada’s leading exporter of Medical Cannabis with an internal GMP manufacturing capacity and supply network to support continued global expansion ▪ Sustainable Adjusted Gross Margin1 and Adjusted EBITDA1
Slide 4: Q2 FY26 Key Financial Highlights
Q2 FY26 Key Financial Highlights NET REVENUE1 $90MM $9MM 11% “ YoY INCREASE YoY INCREASE Aurora’s quarterly performance ADJ. GROSS MARGIN1 $ $52MM $10MM 22% highlights our continued focus on YoY INCREASE YoY INCREASE profitable growth. We achieved 700bps record net revenue1 for global ADJ. GROSS MAR
Slide 5: Q2 FY26 Financial Performance
Q2 FY26 HIGHLIGHTS Q2 FY26 Financial Performance ▪ Total Net Revenue 1 of $90.4M, representing YoY growth of 11% ▪ Global Medical Net Revenue 1 of $70.5M, representing YoY growth of NET REVENUE & ADJ. GROSS MARGINS1 (millions) 15% 62% ▪ Record International Net Revenue 1 of 61% 61% 53% 54% $42.7M, r
Slide 6: Historical Financial Performance
HISTORICAL HIGHLIGHTS Historical Financial Performance ▪ By focusing on Global Medical Cannabis, we have been able to deliver consistent and profitable growth NET REVENUE1 & ADJUSTED GROSS MARGINS1 (millions) ▪ Net Revenue 1 growth has been 350.0 70% primarily achieved through increases 300.0 59% 60
Slide 7: Balance Sheet Strength
Balance Sheet Strength $142 million $96 million TOTAL CASH UNRESTRICTED CASH Including restricted cash & short- term investments Strong Working No Cannabis Capital Business Debt 1 Management 1. Aurora's only remaining debt is non-recourse debt of $59.8 million relating to Bevo Farms Ltd as detailed
Slide 8: Aurora has the brand and product portfolio to support Global Medical Cannabis Leadership
Aurora has the brand and product portfolio to support Global Medical Cannabis Leadership FY26 Q2 PERFORMANCE: OUR BRANDS: $90MM $15MM NET REVENUE1 ADJ. EBITDA1 $(42)MM $142M FREE CASH FLOW1 CLOSING CASH BALANCE #1 MARKET SHARE CANADIAN MEDICAL #1 MARKET SHARE IN CANADIAN MEDICAL WITH LEADING POSITIO
Slide 9: Driving Success Globally
KEY HIGHLIGHTS Driving Success Globally ▪ Aurora continues to lead with the #1 market share in the Canadian medical market, supporting consistent, high margin revenue ▪ Aurora maintains leadership positions in Germany, Australia, Poland and the UK INTERNATIONAL & GLOBAL MEDICAL NET REVENUE1 (million
Slide 10: Leadership in Key Global Cannabis Markets
Leadership in Key Global Cannabis Markets CANADA GERMANY AUSTRALIA UNITED KINGDOM • #1 Medical Market Share • Continuing to capitalize on descheduling of medical • Potential to be the largest medical market in the • Strong market position through relationships with • High patient retention creates c
Slide 11: Leading Cannabis Manufacturing Facilities
Leading Cannabis Manufacturing Facilities The world’s only fully integrated cannabis producer - combining science-based innovation, GMP certified craft-quality production at scale, and direct distribution in both Canada and Germany ▪ European and Australian (TGA) GMP manufacturing facilities Direct
Slide 12: Leading Science & Innovation Program
Leading Science & Innovation Program ▪ Designed specifically to develop the next big cultivars: high potency, disease A state-of-the-art breeding resistant, with excellent bud structure and density, highly aromatic and expressing and genetics facility, unique terpene profiles sought by patients and
Slide 13: Plant Propagation Business Overview
Plant Propagation Business Overview KEY BUSINESS HIGHLIGHTS Aurora holds a controlling interest in Bevo Farms, an industry leader in plant propagation and one of the largest suppliers of propagated vegetables and ▪ 65-75% of plant propagation revenue normally occurs ornamental plants in North Americ
Slide 14: Aurora is focused on long-term value for shareholders
Aurora is focused on long-term value for shareholders In our view, Aurora is highly differentiated and positioned for long-term Aurora’s sustained strategic growth for the following reasons: focus on global medical ▪ We are Canada’s largest medical cannabis company cannabis, the highest-margin ▪ We
Slide 15: Investor Presentation
Investor Presentation Email: aurora@icrinc.com Website: auroramj.com/investors