Aurora Cannabis (ACB) AGM 2024 summary

Opening remarks and agenda

• Meeting called to order by the chairman, with CEO and General Counsel present; formalities included appointing a recording secretary and scrutineer, and confirming virtual-only format.

• Voting procedures explained, with all resolutions open for polling simultaneously; no real-time interventions during formal proceedings.

• Notice and proxy materials delivered via Notice and Access; quorum confirmed with 27.23% of outstanding shares represented by proxy.

Financial performance review

• Achieved positive Adjusted EBITDA on an annualized basis and positive free cash flow in the most recent quarter.

• Net revenue rose 21% year-over-year; adjusted gross margin reached 49% for the year and 69% in the most recent quarter for global medical business.

• Ended the year with approximately CAD 180 million in cash and no debt in the cannabis business.

• International revenue grew nearly 25% year-over-year, with significant growth in Australia and Europe.

Board and executive committee updates

• Number of directors fixed at seven for the ensuing year; all nominees agreed to stand for election.

• Seven directors nominated and elected, including the CEO and chairman.