Management Presentation2018

Disclaimer

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information contained in this presentation constitutes forward-looking statements under applicablesecurities laws. Any statements that are contained in this presentation that are not statements of historical fact may be deemed to be forward-looking statements. Forwardlooking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similarexpressions. Forward-looking statements in this presentation include, but are not limited to, statements with respect to accretive earnings, statements with respect to thefunded production capacity which may not be achieved or realized within the time frames stated or at all, the anticipated size and or revenue associated with the adultconsumer market in Canada and the global market for medical marijuana. Forward looking statements are based on certain assumptions regarding Aurora, including expectedgrowth, results of operations, performance, industry trends and growth opportunities. While Aurora considers these assumptions to be reasonable, based on informationcurrently available, they may prove to be incorrect. Recipients are cautioned not to place undue reliance on forward-looking statements contained herein. Forward-lookingstatements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; futurelegislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms;the early stage of the cannabis industry in Canada generally, realization of funded production estimates, income tax and regulatory matters; the ability of Aurora to implementits business strategies; competition; currency and interest rate fluctuations; the risk of difficulties in the integration of Aurora and MedReleaf and CanniMed Therapeutics, theestimated size of the adult consumer market for cannabis in Canada, the estimated size of the global medical cannabis market and other risks.

Recipients are cautioned that the foregoing risks are not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can beno assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time ofpreparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this presentation are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus aresubject to change thereafter. Aurora disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, futureevents or otherwise, except as required by law. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, mattersreferred to above and elsewhere in Aurora’s public filings which are, or will be, available on SEDAR and EDGAR.

This presentation contains figures that are reported in IFRS which may differ from U.S. GAAP. This presentation includes certain non-IFRS performance measures including cashcost of sales, cash cost to produce, gross margin on medical cannabis, net selling price.

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Presenting Leadership Team

3

Glen IbbottChief Financial OfficerStrong senior financial executive with deep life sciences sector experience

Cam BattleyChief Corporate OfficerDeep experience in pharma and cannabis sectorsBoard member of Cannabis Canada

Terry BoothChief Executive OfficerCEO of 6 successful companies25 years experience in highly regulated industries

Michael SingerBoard ChairmanExtensive financial management, capital markets and corporate governance experience in the pharma and cannabis sectors

Experienced Bio-Pharma and Entrepreneurial Leadership Team

Aurora At A Glance

1. As at September 30th 2018.2. Studies include randomized clinical trials and observational studies in addition to several case studies.3. Excludes facilities from pending ICC Labs acquisition. 4

40 Clinical Studies Underway or Completed(2)

and over 67,000 medical patients served

11 Global State Of The Art Facilities(3)

with 3 EU GMP Certified

Sector Leader in Technology Across Operations and Product Development

Active in 5 Continents and 20 Countries

Leading Global Cannabis Company by Cultivation Scale and Revenue(1)

Leading Market Share in Europe and LATAM

15 Strategic Acquisitions Across the Value Chain since August 2016

GlobalAdult-Use

Significant Opportunity Across Medical, Adult-Use and Wellness Markets

~$3 bn~$9 bn

~$70+ bn

5

Widespread disruption

Expected global disruption in the

beverage, pharmaceutical, CPG

and tobacco industries

Global Industry

Disruption

GlobalMedical

Source: BMO Research and Deloitte1. Estimated for Canadian Medical TAM assumes LPs obtain retail prices for cannabis.2. Estimate for total potential market opportunity for Canadian Adult-Use.3. Estimate consists of medical markets for the U.S., EU and LATAM markets only and assumes EU and LATAM TAM based on wholesale pricing while US TAM assumes retail pricing.4. Estimate consists of adult-use markets for the U.S. and EU markets only and assumes that LPs obtain retail pricing for cannabis.5. Estimate includes markets where medical and/or recreational use of cannabis is not currently legally permitted, such as the U.S.

CanadianAdult-UseCanadian

Medical

~$115+ bn(4)

(3)

Total Global Cannabis Opportunity is ~$200 bn

(2)

(1)

(5)

(5)

Continue securing & developing leading brands

Develop high margin strategy for brick & mortar dispensaries

What We

Have Done

Aurora: Building for Where the Market will Evolve

Leading market share and revenue

Leading provider of medical cannabis to veterans who are heaviest using segment of market

40(1) completed or ongoing clinical studies and 40 PhD & MSc researchers

Built distribution channels

Canadian Medical

CanadianAdult-Use Global Medical Global

Adult-Use Established top position in key

markets within Europe and LATAM

Hold substantial majority of German medical market share

Only licensed producer (“LP”) to sell into Italy

High quality cultivation with 3 global GMP facilities vs. 4 for all competitors combined

Leading European and LATAM distribution achieved

Top 4 best selling brands in BC and ~30% of sales in ON(2)

Supply arrangements with 12 provinces & territories covering~98% of the Canadian population

Vertically integrated with largest private alcohol retailer in Canada

Be positioned to capitalize if and when the global Adult-Use market opens

Leverage successful consumer brands established in Adult-Use markets

61. Studies include randomized clinical trials and observational studies in addition to several case studies.2. Sourced from: Internal company reports and BC Cannabis Store website; data taken as of October 30th 2018 and represents the first two weeks of legalized sales.

Drive costs down with purpose built, state of the art cultivation

Patent genomics to develop cannabis with higher potency, yields and resiliency

Our Strategy

Build out global distribution through partnerships and acquisitions

Own medical distribution channels allowing for maximum long run margin capture

Use IP to commercialize new products

BuildingCultivation

&Extraction

Plant Science &Product

R&D

Consumer Engagement

& BrandsDistribution

Aurora is the Global Rational Market BuilderLeadership Across the Entire Value Chain

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Over 30+ years of experience in designing and engineering high-

tech, automated, environmentally controlled greenhouses

Over 30+ years of experience in designing and engineering high-

tech, automated, environmentally controlled greenhouses

Disruptive extraction technology to ensure low-cost, high yield

operations

Disruptive extraction technology to ensure low-cost, high yield

operations

Industry leading genetics research and robust product

innovation featuring a Medical Centre of Excellence

Industry leading genetics research and robust product

innovation featuring a Medical Centre of Excellence

Robust domestic & international distribution networks spanning

98% of the Canadian population and other locations worldwide

Robust domestic & international distribution networks spanning

98% of the Canadian population and other locations worldwide

Well-recognized and respected medical and consumer brands

with strong consumer engagement and customer care

Well-recognized and respected medical and consumer brands

with strong consumer engagement and customer care

Transformational Acquisitions of Leading Companies

Latin America focused LP with significant market share in Uruguay; also holds Colombian licenses to cannabis and has an agreement to export

CBD products to Mexico providing Aurora a key entry into LATAM

R&D driven Canadian LP; combination provides for industry leading scale, yields, and cost structure with extensive

distribution in Canada and internationally

Canadian-based, international plant biopharmaceutical company and a leader in the Canadian medical cannabis industry with a focus on cannabis oils providing a strong medical brand and science team

Focused Acquisitions Across the Value Chain to Boost Capabilities and Expertise

A global leader in the design, engineering, and construction of advanced greenhouse cultivation facilities

Provider of advanced greenhouse consulting services

Quebec-based LP completing a state-of-the-art, purpose-built 48,000 sq. ft. facility expected to produce 4,500 kg / annum

Europe’s largest organic hemp factory equipped with advanced technology for processing hemp grain

Largest organic hemp seed contracting and processing company based in Europe

Quebec-based LP completing a state-of-the-art, purpose-built 40,000 sq. ft. facility expected to produce 3,900 kg / annum

Leading science team focused on patents, genetics, analytics and breeding

Providers of hydroponic grow systems including grow boxes, stealth grow boxes & cabinets, grow tents, and indoor growing supplies

Largest medical cannabis patient outreach service in Canada, currently serving 7,000 patients with 17 locations

First-mover in the EU with Germany's largest distributor of cannabis to pharmacies with EU GMP certification; and delivers Aurora expanded distribution network into additional European countries

Adds to capabilities in LATAM; holds licenses to cultivate and produce cannabis

Leading integration team with a focus on achieving maximum value realization through talent retention, increased production, lower costs, increased revenue and IP leverage

(1)

1. Acquisition pending, subject to customary closing conditions.

Globally Positioned Industry Leading Production Capacity

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Ramping up 11 state-of-the-art cultivation facilities with expected production capacity of over 500,000 kg / year by Mid 2020

Aurora Saskatoon

Aurora Sky

Aurora Mountain

Aurora SunExeter

Markham

70,000150,000

500,000

Current Early 2019E Mid 2020E

Aurora VieAurora Eau Nordic 2

Nordic 1

Bradford

(2)

1. Annualized run rate based on grow rooms in production, as at November 12th 2018.2. Excludes pending acquisition of ICC Labs.3. Based on calendar year.

ICC Labs(1)

Run Rate Production (kg / year)

+

(1) (3) (3)

Aurora’s High Margin Strategy

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Aurora is maximizing average selling price through:• Leadership in key international markets allowing opportunistic focus on highest

margin options (medical, new products)• Full margin capture in international markets by owning distribution channels directly• Commitment to science and product development > new higher margin products

being introduced and IP development

And driving down overall production per gram cash costs through:• Commitment to science and technology > increasing yields through genetics, low per

gram operating costs from world-class automation and replicable large-scale pharma-style production• Low input-cost locations• Leveraging massive scale to spread costs over a large volume of product

Production costs at scale are projected to be well below $1

per gram

A Sustainable Long-term High Margin Business Model

• Mass scale designed to provide sufficient supply to meet the fast-growing demand of the global cannabis opportunity

• Focus on high quality ingredients to allow Aurora to service end markets, starting with medical and pharma(1), through precise control of cultivation variables (nutrients, lighting, air flow, etc)

• Low cost production enables Aurora to execute on its high-margin strategy

Cultivation MattersMass Scale, High Quality and Low Cost Production is Crucial for Success

101. Medical cannabis requires consistent and high-quality product.

Aurora “Sky Class” Facilities

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• Glass roof to optimize for ~300 days of sunlight and reduce energy costs

• Full automation with robotic technology reduces number of employees

World Leading Technology & Automation Drive Low Cost and Quality Production at Scale

Low CostsHigh Quality• EU GMP compliant• Closed air system• Customized irrigation• Advanced disease, pest and plant

stress prevention• Leverage Larssen’s 30+ years of

greenhouse construction expertise to create technologically advanced production facilities

• Automated processes allow for easily scalable operations

• High-tech facility creates a controlled environment that significantly reduces crop loss

• Large scale >100,000 kg / year provides operating leverage

Mass Scale

Leading Science & Research Teams Driving Product Development

• Science & research based

• Focus on commercializing marketable IP developed through rigorous clinical research program

• Take advantage of deep regulatory experience to reduce time to market through streamlined commercialization process

Aurora's Innovative Approach to Product Development

• To be the global leader in the production and sale of excellent innovative cannabis products in all medical and recreational markets

• To develop and bring to market a pipeline of innovative and exciting new products

Program Objectives

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• Developed dried cannabis Kief product line called Aurora Frost, with extremely high THC potency of up to 35%

• Aurora’s in-house technology team successfully developed a new and proprietary technology used to efficiently produce high volume, GMP compliant Aurora Frost products

Aurora Frost - High Potency Cannabis

• A vape ready CBD product containing over 550mg of CBD and less than 30mg of THC

• Successfully navigated the technical and regulatory challenges needed to bring the only vape-ready CBD product to market in Canada

Aurora Cloud - CBD Vape Products

• Received Health Canada approval to produce cannabis softgel capsules at Aurora Vie in partnership with Capcium

• Cannabis capsules are preferred by healthcare professionals as they offer discreet, precision dosage, and have consistent and predictable efficacy

Aurora Softgels - Partnership with Capcium

Outpacing Competitors in the Canadian Market

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Quarterly Revenue Growth Patient and Cannabis Production Growth

$0

$5

$10

$15

$20

$25

$30

Dec-14

Mar-15

Jun-15

Sep-15

Dec-15

Mar-16

Jun-16

Sep-16

Dec-16

Mar-17

Jun-17

Sep-17

Dec-17

Mar-18

Jun-18

Sep-18

Competitor 2

Competitor 1

Quar

terly

Rev

enue

(C$

mm

)

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

-

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

Sep-16

Dec-16

Mar-17

Jun-17

Sep-17

Dec-17

Mar-18

Jun-18

Sep-18

Grams Produced Medical Patients

Gra

ms

of D

ried

Flow

er E

quiv

alen

ts

Regi

ster

ed M

edic

al P

atie

nts

Successful Canadian Adult-Use Market Launch

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Top 4Best-Selling Products in British Columbia(1)

17 Lift Canadian Cannabis Awards in 2017

Top LP Top High THC Oil Top High CBD Oil Top High THC Flower Top High CBD Flower Top Indica Flower Top Sativa Flower Top Hybrid Flower

Top Sativa Flower Top LP Customer Service Top LP Compassionate

Pricing Top LP Packaging Top Facebook Account Top Twitter Account

Comprehensive Portfolio Of Medical And Adult-Use Brands

1. Sourced from BC Cannabis Stores website; data taken as of October 30th 2018 and represents the first two weeks of legal sales.2. Sourced from internal company documents showing results from first two weeks of sales in Ontario.

Leading Market ShareAchieved over 30% of sales in Ontario(2)

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40 Clinical Studies Underway or Completed(1)

Partnering with Leading Institutions and Universities Around the World

Strong IP Retention on Clinical Studies

27 Clinical Studies Currently Under Discussion

7 Pre-Clinical Studies in Progress

1. Studies include randomized clinical trials and observational studies in addition to several case studies.

Aurora’s Scientific Leadership AdvantageLeveraging Industry Leading Science & Innovation Team to Drive Medical Advancements

World Class R&D Leadership Team

Jason Dyck, PhDHuman Scientist, Board DirectorProfessor in the Department of Pediatrics at the University of

Alberta and a Canada Research Chair in Molecular Medicine

Kelly Narine, PhDHead of Biomedical ResearchPhD in Medical Genetics from the University of Alberta; Deep

expertise in translating research into positive health outcomes

Shane Morris, PhD – Head of Product Development

Experienced executive in the cannabis industry since 2015;

previously part of the senior leadership team at

Hydropothecary

Jon Page, PhD – Head of Plant ScienceFirst scientist to sequence the cannabis genome and provide deep insights into the biosynthesis of cannabinoids

Clinical Research Focus Areas include:

Pain, Epilepsy, PTSD, AnxietyOpioid Sparing, Cancer, Neurodegeneration

Select Portfolio of Clinical Studies

Indication Research Partners Trial Name Phase

Cancer Pain Management OCOG, Sunnybrook Health Science Center, Hamilton Health Sciences, Juravinski Cancer Center Cannabis Oil for Pain Effectiveness II

Osteoarthritis McGill University Health Network & Queen Elizabeth II Health Science Center Vaporized Cannabis for Painful Osteoarthritis of the Knee IIa

Epilepsy Royal University Hospital and University of Saskatchewan CBD in Children with Refractory Epilepsy II

Tourette’s Syndrome University Health Network Vaporized Cannabis in Adults with Tourette’s Syndrome II

Pharmacokinetics N.A. Comparative Bioavailability and Pharmacogenomics Study of THC on Healthy Volunteers I

Epilepsy Ontario Brain Institute, UoT, University Health Network, University Hospital London, Toronto Western Hospital CBD and THC Given as Adjunctive Therapy to Adults with Refractory Seizures III

Genetics Mount Sinai Hospital Identification of Genetic Biomarker Signatures associated with Cannabis Efficacy and Dose in Survey Patients N.A.

Chronic Pain CFL Alumni Association, CannaConnect Clinic Assessing the Effects of Medical Cannabis on Pain and Related Quality of Life in Retired Athletes with Chronic Pain N.A.

Multiple Medical Conditions University of Alberta Health and Economics-Based Outcomes of Cannabis-Based Therapies N.A.

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Executing on Early Mover Advantage in EU Medical Market

• Acquisition of Pedanios (now operating as Aurora Deutschland) provides a distinct first mover advantage in the single largest federally legalized medical cannabis market with a population of 82+ million in Germany

• GMP certified facilities necessary for success in the EU markets

• Aurora currently holds a majority of German market share

• 70+ employees across Germany and the broader EU

• Germany has broad insurance coverage for prescribed medical cannabis which allows for substantially higher margins today and is expected to protect against margin compression over time

• High barriers to entry given regulatory landscape and robust medical and pharmacy driven distribution network

• Aurora is uniquely positioned to capture a significant portion of the market as the industry in Germany matures

Extending Market Leadership in New High Growth Markets

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Poland: Aurora has received the first cannabis import permit from the

Polish Ministry of Health

Malta: First cultivation LOI issued by the Maltese authorities to date;

Production facility will serve Maltese and EU export markets; 1st player to

ship medical cannabis to Malta

Denmark: Aurora owns 51% of Aurora Nordic where a 1,000,000 sq ft

facility is being built(1) along with a 100,000 sq ft retrofit greenhouse and will be the first producer; 1st player to ship medical cannabis to Denmark

Italy: Sells cannabis to the Italian government through Pedanios;

completed first ever private export from Canada in April 2018

Establishing European Leadership Starting in Germany

Complete distribution and same

day delivery to every

pharmacy in Germany

Track record of Importing &

Distributing Medical

Cannabis

Federally Licensed Narcotic Importer, Exporter & Distributor

Source: BMO Research.1. Estimated to be completed by calendar H2 2019.

EU Population of ~465 mm~C$98 bn Opportunity

South American Locations:

Diversified Medical & Adult Consumer Use Product Offerings:

Building the Foundation for Latin American Cannabis LeadershipRapidly Expanding Aurora’s Reach into South America through MED Colombia & ICC LABS

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Provides Significant

Expansion of Low-Cost

Production and

Processing Capacity

Science based, High-

margin Products and

Strong Genetics

Estimated total production capacity over 450,000 kg per annum of bulk hemp and cannabis

Two facilities currently under construction, adding 124,000 sq ft of greenhouse production in Colombia and a 1,000,000 sq ft facility in Uruguay

Outdoor grow sites, with a potential total area of over 800 acres

Offers a broad portfolio of dried flower and higher margin products, including tablets, softcaps, ointments, creams, drops, infused syrups, and patches

Constructing South America's first state-of-the-art cannabis science laboratory, designed to the highest international standards and in compliance with applicable GMP

– South American Leader(1)

Significant South American Market Opportunity with Clear Demand for Legal Regulated Cannabis Products

LATAM Population of ~420mm

Colombia legalized medical cannabis in 2015 and

MED Colombia received its cultivation license for THC

cannabis and its derivatives in 2017

Uruguay was the first country in the world to fully legalize medical and recreational

cannabis and also allows for the cultivation of CBD rich bulk hemp with THC concentrations

of up to 1%

1. ICC Labs acquisition is pending, subject to customary closing conditions.

1. Aurora Nordic plans to focus on the cultivation and sales of cannabis in Denmark, Sweden, Norway, Finland and Iceland through Aurora’s wholly-owned subsidiary, Pedanios.

Extensive Distribution Channels in Canada and Internationally

Cayman IslandsFirst ever sale of commercial cannabis oils

Denmark(1)

JV partner Alfred Pedersen & Son holds a license to cultivate cannabis from Denmark’s Medicines Agency

South AfricaDefinitive agreement to supply cannabis products to Akula Trading 2 Pty Ltd.

Australia22.9% interest in Cann Group, first Australian company licensed to cultivate medical cannabisFirst ever shipment of commercial cannabis oils through CanniMed

AustraliaJV partner Indica received cannabis cultivation and production license

ItalySells cannabis to the Italian government through Pedanios; completed first ever private export from Canada in April-18

BrazilCompleted first ICH-GMP certified commercial export and the country’s first import of cannabis-oil

PolandAurora receives first cannabis import permit from the Polish Ministry of Health

CanadaEstablished key distribution agreements with 12 Provinces and Territories. Key supply agreements with leading distributors including SAQ, AGLC, Shoppers, PharmaChoice and Pharmasave, as well as a strategic ownership interest in Alcanna

Malta

ColombiaThrough ICC Labs and MED Colombia, Aurora has licenses in Colombia for the cultivation of cannabis, the production of cannabis oil extracts and an extensive library of cannabis genetics

Uruguay ICC Labs currently holds substantial market share in Uruguay. They also own a CBD extraction facility located in a free trade zone making exporting products extremely tax efficient

First cultivation LOI issued by the Maltese authorities to date. Production facility to serve Maltese and EU export markets

European UnionLOI with Creso Pharma Ltd. to market CMED medical cannabis brands

MexicoThrough acquisition of ICC Labs Aurora will hold a presales agreement to export product to Mexico

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GermanyAurora Deutschland GmbH, a subsidiary of Aurora Europe GmbH, is a wholly owned wholesale importer / exporter / distributer that sells cannabis to pharmacies, allowing for full margin capture.Increased EU reach and distribution capabilities through partnership with Heinrich Klenk Supply agreement with Cannamedical PharmaIntroducing CanvasRx model to seed and accelerate growth

Q1 2019 Results

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$ in Canadian millions, unless otherwise noted Q1 2019 Q4 2018 Change (%) Q1 2018 Change (%)

Financial:

Revenue $29.7 $19.1 55% $8.3 260%

Gross Margin on Medical Cannabis(1) 70% 74% (4%) 58% 12%

Biological Inventory $80.8 $41.0 97% $6.1 1225%

Cash cost of Sales (per gram of dried cannabis sold) (2) $1.90 $1.87 2% $2.16 (12%)

Cash Cost to Produce (per gram of dried cannabis sold) (3) $1.45 $1.70 (15%) $1.87 (22%)

Operational:

Average Net Selling Price of Dried Cannabis $8.39 $8.02 5% $7.32 15%

Average Net Selling Price of Cannabis Oil $12.12 $13.52 (10%) $16.41 (26%)

Kilograms Produced 4,996 2,212 126% 1,010 395%

Kilograms Sold 2,676 1,617 65% 890 201%

Q1 2019 Pro Forma Revenue: $35.8 M(4)

1. Represents the gross margin on cannabis sales before fair value adjustments. Excludes revenues from patient counselling services, design, engineering, and construction services, and analytical testing services. Gross margin on cannabis sales is a non-IFRS financial measure. See“Gross Margin” section of Q1 2019 MD&A for reconciliation to IFRS figure.

2. Represents the cash cost of sales per gram of dried cannabis produced and sold by consolidated Aurora (including the results of MedReleaf from July 25, 2018 in Q1 2019). Cash cost of sales per gram sold is a non-IFRS financial measure. See “Cash Cost of Sales of Dried Cannabisand Cash Cost to Produce Dried Cannabis Sold – Aurora Produced Cannabis” section of Q1 2019 MD&A for reconciliation to IFRS figure.

3. Represents the cash cost of sales per gram of dried cannabis produced and sold by consolidated Aurora (including the results of MedReleaf from July 25, 2018 in Q1 2019), excluding costs to sell such as packaging costs. Cash cost of sales per gram produced is a non-IFRS financialmeasure. See “Cash Cost of Sales of Dried Cannabis and Cash Cost to Produce Dried Cannabis Sold – Aurora Produced Cannabis” section of Q1 2019 MD&A for reconciliation to IFRS figure.

4. Includes MedReleaf, Anandia Labs, and Agropro/Borela.

Summary Statement of Financial Position

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$ in Canadian millions, unless otherwise noted September 30, 2018

Cash and Cash Equivalents $147.8

Cannabis Inventory and Biological Assets $80.8

Working Capital $548.5

Investment in Associates and Joint Venture $201.0

Total Assets $4,955.4

Loans and Borrowings $90.1

Convertible Debentures (Carrying value) $199.8

Total Liabilities $552.4

Equity Attributable to Shareholders of Aurora $4,399.5

Non-Controlling Interest $3.4

Total Liabilities and Equity $4,955.4

Current market value of investments in publicly traded companies > $400 million (November 9th 2018)

Checking All the Boxes - A Platform for Accelerated Growth

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Globally Leading Scale Extensive Distribution Channels Around the

Globe

Proven Execution & Agility Across Value

Chain

Innovation and R&D Excellence

Low Production Costs and Industry Leading Yields

Award Winning Product Lines Support Brand

Leadership

Enhanced Diversification

$Proficient M&A

Capabilities

Business Integration Expertise

Appendix

23

Opportunistically Investing Across the Value Chain

24

• Existing investment accomplished objective of securing supply agreement for 20% of TGOD’s organic cannabis production

Cultivation

• ~17% ownership interest• Proprietary technology provides superior ingredient purity, yield, and cost• Aligned with strategy of becoming the leading vertically integrated player considering

the growing importance of cannabis extracts

Extraction

Leading processor & marketer of hemp based products and brands

Developer of advanced grow light technologies

Leading organic waste technology company that developed an on-site system that turns organic waste into clean water

Provides safe, flexible, simple and innovative drug delivery systems for pain management therapies and treatments

Platform specializing in softgel encapsulation; expands Aurora’s differentiated, higher-margin product offerings

First mover in Australia focused on developing medicinal cannabis products

Curated cannabis retailer with access to “craft” cannabis supply, and diverse brands for consumers

Comprised of a portfolio of conscious lifestyle brands

Technology enables the production of over 75 different pre-rolled product types, addressing a wide variety of market demands

Plant Science and Product R&D

Cultivator

Consumer Engagement and Brands

• Largest Canadian private retailer of adult beverages including beer, wine, spirits• Bringing a state-of-the-art consumer retail concept featuring a variety of brands and

wide selection of cannabis products• Opening 37 stores and retrofitting existing liquor stores into cannabis retail outlets• Investment aids rapid development of Canadian cannabis retail network

Distribution

Strategically Investing to Execute on the Global Cannabis Opportunity

Industry Leading Scale

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CANADA

DENMARK

AURORA NORDIC

AURORA EAU

EXETER

AURORAMOUNTAIN

AURORA SKY

AURORA SUN

SASKATOON

AURORA VIE

MARKHAM

BRADFORD

Aurora Mountain

Mountain View, Alberta, Canada 55,200 sq.ft. 4,800 kg/year Operating since 2015

Aurora Vie

Pointe Claire, Quebec, Canada 40,000 sq.ft. 4,000 kg/year Operating since June 2018

Aurora Eau

Lachute, Quebec, Canada 48,000 sq.ft. 4,500 kg/year Facility construction

completed

Aurora Sky

Edmonton, Alberta, Canada 800,000 sq.ft. >100,000 kg/year Full facility to be completed

by end of 2018

Aurora Sun

Medicine Hat, Alberta, Canada

1,200,000 sq.ft. >150,000 kg/yearCurrently under construction. Estimated completion H1 2020

Aurora Nordic 1

Odense, Denmark 100,000 sq.ft. 8,000 kg/year Construction complete. First

harvest expected fall 2018

Aurora Nordic 2

Odense, Denmark 1,000,000 sq.ft. >120,000 kg/year

Currently under construction. Estimated completion H1 2020

SaskatoonSaskatoon, Saskatchewan, Canada

97,000 sq.ft. 19,000 kg/yearOperating since 2004.Upgrading to EU GMP specifications

Markham Markham, Ontario, Canada 55,000 sq.ft. 7,000 kg/year Operating since 2014

Bradford Bradford, Ontario, Canada 210,000 sq.ft. 28,000 kg/year

Expansion underway from 9,500 kg to 28,000 kg/ year. Expected to be completed by end of 2018

Exeter Exeter, Ontario, Canada 1,000,000 sq.ft. 105,000 kg/year Land and building purchased

LOCATION SIZE CAPACITY STATUS LICENSECULTIVATION SALE

11 Production Facilities – Expected to Have Over 500,000 kg/year in Capacity by Mid 2020

Global CBD Opportunity

26

Poised to Capture Hemp-CBD MarketMarket Sizing Hemp-CBD

The global Hemp-CBD market is estimated to reach ~US$22+ bn by 2022(1)

Source: Brightfield Group. 1. Note estimate includes markets where medical and /or recreational use of cannabis is not currently legally permitted, such as the U.S.

Hemp-CBD is increasingly being used in a variety of products for a number of

health & wellness purposes including: nutrition, inflammation reduction,

boosting metabolism, lowering anxiety and improving overall mood

Global trailblazer in high-tech CBD extraction at scale

Leading processor & marketer of hemp based products and brands

Pioneering South American extractor and distributor of Hemp-CBD

Europe's largest producer, processor and supplier of organic hemp and hemp products

European hemp processor and distributor

Aurora is a global leader in legal sources of CBD, currently selling CBD dried flower, CBD oils and CBD vape pen cartridges and has access to a large legal cannabinoid extraction capacity

Growing Use Cases for CBD Products

Experienced and Dedicated Aurora Integration Team

Detailed Business Integration Team Capable of Addressing Multiple Concurrent Integration Programs • Integration is a corporate priority

Team is lead by Andre Jerome

– Prior to Aurora, Andre was CEO and co-founder of H2 Biopharma, a Quebec based medical cannabis licensed producer acquired by Aurora in November 2017

– This was preceded by a senior executive career spanning over two decades and three continents in the telecom industry, where he managed large corporate functions including Corporate planning and Program Management, Business Process improvement, Supply Chain, and Corporate security

– Throughout his career, he has played an important role in various acquisition integrations, the last of which being the $18 bn acquisition of Vodafone

Integration team is made up of a group consisting of over 30 functional leads on both sides who partner together to help integrate acquired companies into Aurora

Aurora integration methodology targets maximum merger benefits in first 90 days

Focus is on achieving maximum value realization through talent retention, increased production, lower costs, increased revenue and IP leverage

Both the CanniMed and CanvasRx integrations were successfully completed within 90 day goal

Integration Successes To Date• CanniMed

– Achieved substantial increase in Dry Flower yield to date, and plan being implemented to double growing capacity within existing network– Increased oil production capacity by several times so far with further multi-fold increases planned within next 12 months– Increased product development & manufacturing capabilities

• MedReleaf– MedReleaf’s data driven cultivation methodology is being implemented across Aurora’s global footprint, to increase yield and consistency

• Anandia– Plant and R&D Science teams being integrated into a unified function across all companies leveraging combined knowledge and data collection

Progress on Existing Acquisitions• Currently two integration projects underway for MedReleaf and Anandia along with two post-integration reviews for the prior acquisitions of CanniMed and CanvasRX

Realizing Value Through Integration Success

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Contact Information

Cam BattleyChief Corporate Officercam@auroramj.com

Marc LakmaakerVice President IR & Corporate Developmentmarc.lakmaaker@auroramj.com

Investor Relations: 1-855-279-4652