Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements

Certain information in this website constitutes forward-looking information or forward-looking statements under applicable securities laws (“forward-looking statements”). Any statements that are contained in this website that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “will”, “should”, “anticipate”, “expect”, “potential”, “proposed”, “estimate”, “believe”, “intend” or the negative and grammatical variations of these terms and similar expressions. Forward-looking statements in this website include, but are not limited to, statements with respect to internal expectations, objectives, plans, goals, strategies, future growth, financial condition, results of operations, cash flows and growth margins, performance, business prospects and opportunities, international expansion, development of affiliated brands, strategic alliances or partnerships, market size, future product offerings, growing capacity and costs, production capacity and costs, production and sales volumes, the renewal or granting of licenses and the commencement and completion of capital projects or expansions and the timing thereof.

These forward-looking statements are based on the reasonable assumptions, estimates, analyses, and opinions of management made in light of management’s experience and perception of trends, current conditions, and expected developments, as well as other factors that management considers to be relevant and reasonable at the date that such statements are made. Despite a careful process to prepare and review the forward-looking statements on this website, there can be no assurance that the underlying assumptions, estimates, analyses, and opinions will prove to be correct. Forward-looking statements necessarily involve known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, actions, events, performance and achievements to differ materially from forward-looking statements, including, without limitation, risks associated with general market and economic conditions, adverse industry events or changes, marketing costs, loss of markets, future legislative and regulatory developments involving recreational and medical cannabis, continued listing requirements of the TSX and NYSE, price volatility, inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms, general capital markets risk and risks associated with the substantial obligations of being a public company, unfavorable publicity or consumer perception, the recreational and medical cannabis industry in Canada or international markets generally, difficulty of forecasting the recreational and medical cannabis industries, risks relating to our expansion into foreign jurisdictions and risks relating to international advisors and consultants, income tax and regulatory matters, the ability of Aphria to implement its business strategies, new or existing competition, crop failure, inventory management, recall and other risks inherent in an agricultural business, reliance on management and reliance on key inputs, currency and interest rate fluctuations, operating efficiencies and cost saving initiatives, risks inherent in strategic alliances and partnerships, risks relating to conflicts of interest, litigation risks and other risks. In addition, certain of these or other uncertainties and risks are discussed in the Company’s materials filed with the Canadian securities regulatory authorities from time to time, including the “Risk Factors” section in the Company’s annual information form and the “Industry Trends and Risks” section in the Company’s management’s discussion and analysis. Visitors to the website are cautioned that the foregoing list is not exhaustive. Visitors are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements included in this website speak only as of the date they were published and therefore are made as at various dates. The Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Forward-looking statements contained in this website are expressly qualified by this cautionary statement.