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May 13 , 2021 Aurora Cannabis Announces Fiscal 2021 Third Quarter Results • Domestic Medical Net Revenue Steady at $ 26.9 Million • Strong International Medical Net Revenue of $ 9.4 Million • Total Cannabis Net Revenue , Excluding Provisions , of $ 58.4 Million NYSE TSX : ACB I ' • Business Transformation Plan Continues , Management Expects to Deliver Incremental Cost - Saving Measures of $ 60 Million to $ 80 Million Annually • Balance Sheet Remains Strong with ~ $ 525 Million of Cash on Hand at May 12 , 2021 • Lead Independent Director Ronald Funk Appointed as Chairman , Michael Singer to Remain Board Member _ _ EDMONTON , AB May 13 , 2021 Aurora Cannabis Inc. ( the “ Company ” or “ Aurora " ) ( NYSE | TSX : ACB ) , the Canadian company defining the future of cannabinoids worldwide , today announced its financial and operational results for the third quarter of fiscal 2021 ended March 31 , 2021 . " Consistent with many of our peers , the quarter presented challenges in the Canadian adult - use segment . This reinforces the importance of Aurora's broadly diversified business model that balances domestic medical , international medical , and adult - use platforms , " stated Miguel Martin , Chief Executive Officer of Aurora Cannabis . " To that point , we delivered the strongest performance in domestic medical and the best results in international medical cannabis of any Canadian LP during the period . This is critical , because we expect being # 1 by revenue in Canada's medical market , the largest federally regulated medical market globally , should translate into global adult - use success in the future as medical regimes evolve to adult - use markets . In addition , being the # 2 largest Canadian LP by global cannabis sales this quarter , and a leader across multiple markets and segments , gives Aurora the brand recognition and clout to pursue numerous incremental opportunities around the world . " " Aurora also announced today that our cost structure transformation continues and we have identified further cost savings of $ 60 million to $ 80 million annually that are expected to be achieved within eighteen months and are incremental to the ~ $ 300 million in annual savings already achieved . We anticipate that this initiative will not only allow us to meet our financial objectives while the Canadian adult - use market normalizes over the next several quarters , but will not have any effect on future revenue growth . We have recently added Alex Miller and Lori Schick to the team ; two highly respected leaders in the areas of operations and human resources , respectively , to accelerate the execution of our corporate objectives . They each bring 20 plus years of transformative regulated industry experience and are already fully engaged . Lastly , our balance sheet remains strong with approximately $ 525 million in cash . This will allow us to support organic growth as well as opportunistic M & A , particularly in the U.S. " Third Quarter 2021 Highlights ( Unless otherwise stated , comparisons are made between fiscal Q3 2021 and Q3 2020 results and are in Canadian dollars ) Q3 2021 total cannabis net revenue¹ before provisions was $ 58.4 million , a 19.5 % decrease over Q3 2020 and a 17.0 % sequential decline . After accounting for return and price provisions , Q3 2021 total cannabis net revenue was $ 55.2 million , a 20.8 % decrease in cannabis net revenue¹ over fiscal Q3 of the prior year . 1 These terms are non - GAAP measures , see " Non - GAAP Measures " below .