#1Investor Day Presentation NASDAQ: OTEX | TSX: OTEX March 1, 2022 TM Investor Day opentext by 2022#2Agenda: 11:00 am to 2:30 pm ET Presenters Harry E. Blount, SVP, Investor Relations Mark J. Barrenechea, CEO & CTO Muhi Majzoub, EVP, Chief Product Officer Simon "Ted" Harrison, EVP, Enterprise Sales James McGourlay, EVP, International Sales BREAK Topic Welcome and Safe Harbor Strategy & Direction Product Strategy Enterprise Growth Strategy International Growth Strategy Paul Duggan, EVP, Renewals Prentiss Donohue, EVP, SMB/C Sales Doug Parker, EVP, Corporate Development Madhu Ranganathan, EVP, CFO Q&A Speaker Panel - opentext™ Renewals Strategy SMB/C Growth Strategy M&A Strategy Financial Overview Q&A Open Text ©2022 All rights reserved 2#3Safe Harbor and IP Statement This presentation contains forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws of the United States and Canada. All statements other than statements of historical facts are statements that could be deemed forward-looking statements. When we use words such as "anticipates," "expects," "intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “could,” “would," "will" and variations of these words or similar expressions, we do so to identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements, and are based on our current estimates, beliefs and assumptions, including management's perception of historical trends, current conditions and expected future developments, as well as its expectations, forecasts and projections about the operating environment, economies and markets in which we operate. These forward-looking statements involve known and unknown risks and uncertainties, such as those relating to the duration and severity of the COVID-19 pandemic, including any new strains or resurgences, as well as our ability to develop, protect and maintain our intellectual property and proprietary technology and to operate without infringing on the proprietary rights of others. We rely on a combination of copyright, patent, trademark and trade secret laws, non-disclosure agreements and other contractual provisions to establish and maintain our proprietary rights, which are important to our success. From time to time, we may also enforce our intellectual property rights through litigation in line with our strategic and business objectives. The actual results that we achieve may differ materially from any forward-looking statements, which speak only as of the date made. We undertake no obligation to revise or publicly release the results of any revisions to these forward-looking statements. For additional information with respect to risks and other factors which could materially affect our business, financial condition, operating results and prospects, including these forward- looking statements, see our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings we make with the Securities and Exchange Commission and other securities regulators. For these reasons, we caution you not to place undue reliance upon any forward- looking statements. opentext™ Open Text ©2022 All rights reserved 3#4GROW with OpenText Mark J. Barrenechea, OpenText CEO & CTO opentext™ Investor Day 2022#5OpenText in a Snapshot (NASDAQ/TSX:OTEX) Key Stats Leader in Content Management 40 of top 50 Supply Chains Leader in Business Network 75K Enterprise Customers $92B Total Addressable Market (1) 818K SMB Customers Direct Total Market Coverage Distribution Financial Highlights Total Revenues ~$3.4B As of Q2 FY'22 TTM Total Rev CAGR % (FY'13-FY'21) 12% Digital Total Revenues (US$M) ARR (2) % of Total Revenue 81% ARR CAGR % (FY'13-FY'21) 16% Cloud Revenue ~$1.4B Cloud Rev CAGR % (FY'13-FY'21) 29% Annual Recurring Revenue (US$M) Cloud Revenue (US$M) 3,000+ field facing professionals 23,000+ MSPS SAP Google Cloud aws OpenText Digital Zone $3,386 148% $1,363 Azure 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). opentext™ 2. Annual Recurring Revenue is defined as the sum of Cloud services and subscriptions revenue and Customer Support revenue. $2,742 227% $839 $1,407 682% $180 FY'13 FY'21 FY'13 FY'21 FY'13 FY'21 Open Text ©2022 All rights reserved 5#6Open Text Advantaged Assets and Capabilities ~15,000 Global Employees (1) Modern Business Clouds opentext Named one of Forbes 2022 Canada's Best Employers Waterstone CANADA'S MOST⭑ ADMIRED CORPORATE CULTURES 2021 1M+ trading partners 23,000 MSP's opentext™ 1. As of December 31, 2021. EMPLOYERS TOP CANADA'S * 2022 FOR YOUNG PEOPLE People tform & Products Customers Ecosystems Strategic Partners aws SAP salesforce T ORACLE TATA servicenow Deloitte accenture Speed & Scale opentext Cloud Content opentext Cloud Experience opentext | Cloud Business Network opentext Cloud Security & Protection opentext Cloud Editions opentext| Cloud Developer Run Anywhere | Off-Cloud | Private-Cloud | Public Cloud | API-Cloud • Country scale: Customers in 100+ countries Account scale: 66% Global 10K coverage • Speed: New cloud releases every 90 days Open Text ©2022 All rights reserved 6#7Our Strategic Priorities 1 Existing Portfolio Continue to transition our significant & valuable install-base to the cloud 2 Future Cloud Platform Create compelling cloud solutions that drive growth and are simple, frictionless that generate great outcomes 3 New Markets Expand our addressable market and deliver great outcomes 4 Customer Success & Ecosystems 5 Our Voice Be the navigator for our customers' entire journey in the cloud and nurture a thriving cloud-based ecosystem Drive growth through compelling propositions and ensure every customer and partner understand the value of working with OpenText opentext™ Open Text ©2022 All rights reserved 7#8Information Management Market Segmentation TAM (1) Open Text Total Revenue CY'22 Market Size $B CY'22-25 CAGR % Small Business Medium Business Mid-Market Enterprise <100 employees 100-499 employees 500-999 employees Large Enterprise 1000+ employees Content Services $4.3B 10% $4.1B 11% $2.6B 11% $13.0B 11% $24.0B 11% Business Network $2.6B 7% $4.6B 10% $2.1B 9% $12.8B 9% $22.1B 9% Digital $4.5B Experience 7% $4.2B 7% $2.7B 7% $14.0B 8% $25.4B 7% Security & Protection $8.7B 5% $2.7B 11% $1.4B 11% $7.8 11% $20.6B 9% Total $20.1 B 7% $15.6B 10% $8.8B 10% $47.6B 9% $92B 9% 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). opentext™ Market share gains through Total Growth $1.4B to $3.4B FY'13 to FY'21 12% CAGR Open Text ©2022 All rights reserved 8#9Digital Investment to Grow 17% Through 2024 Digital Transformation Investment in $ Trillion Digital Transformation Investment Trends Reinforces Open Text's Relevance and Imperatives of Information Management 16.5% 5.4 6.3 55% of all IT investment 2022 2024 SOURCE: IDC FutureScape: Worldwide Digital Transformation 2022 Predictions Driven by 53% of organizations having enterprise-wide digital transformation strategy opentext™ Higher COST/COMPLEXITY TO ADDRESS Lower IDC FutureScape: Worldwide Digital Transformation 2022 Top 10 Digital Resiliency Digital GDP Rules Decarbonization Double-Digit Investment Growth and Digital Digital Dream Teams Physically Architecting Digital Automating Enterprises and Ecosystems Digital Enculturation and Empowerment Digital RCI and Outcomes 2022 2023 2024 2025 Leadership for Digital Resiliency 2026 2027 Business transformation is information-led Digital platforms are key enablers for business transformation & resiliency Customer experience is paramount Employee experience is at the core of modern work & Digital Dream Teams Business networks and ecosystems drive resiliency and digital GDP The future of work & growth is inclusive and sustainable PREDICTION TIMING Open Text ©2022 All rights reserved 9#10Sustainability is Both an Open Text Core Value and Secular Growth Driver The OpenText Zero Initiatives by 2030 We are committing to zero waste from operations Zero Waste Zero Barriers Zero Emissions We are committing to a science-based emissions reduction target of 50% and Net- Zero by 2040 opentext™ Advancing Equality, Diversity and Inclusion: Majority diverse company, parity in key roles, and 40% female in leadership positions 2030 Sustainability Pledges from the Global 10,000 (G10K) L'ORÉAL PARIS Nestle Bank of America. "We are empowering our business ecosystem, helping them transition to be more sustainable" "We will halve our greenhouse gas emissions by and reach net zero by 2050" "Dedicating $1 Trillion to aid sustainability and low carbon activities" H "100% electrification" HONDA Shell "Carbon neutral by 2050" Source: Sustainability Magazine OpenText ©2022 All rights reserved 10#11The OpenText Business System How We Create Value Our Operating Model Total Innovation Ecosystem Building Best Teams Total Growth Operational Excellence opentext™ Our Shareholder Value Creation Model Operating model profitability Disciplined strategic acquisitions Capital efficiency & returns Inclusion Sustainability Cash based returns & ROIC Open Text ©2022 All rights reserved 11#12Our Vision is Clear in Information Management The Digital Zone opentext | Cloud Content Business Clouds Single Sign-On Resources & Enablement Learn, Try, Buy Provision & Support Renewals Digital Ecosystem MSP's Open Text Cloud The Ultimate Cloud™ Cloud Editions Architecture Trading Partners Connected Subscribers Private Cloud opentext™ opentext Cloud Business Network Content Management Capture & Archiving Ecosystem Integrations Digital Business Integration Data Management & Security Industrial IoT Solutions Secure Viewing Collaboration & Signature Industry Solutions Identify & Access Management Supply Chain Optimization Procure-to-Pay Order-to-Cash opentext | Cloud Experience Customer Analytics, Al & Insights Customer Communications Digital Fax Endpoint Detection & Response (EDR) Process & Collaboration Voice & Contact Center Digital Asset Management Digital Investigations & Forensics opentext™ | Cloud Developer Developer Cloud opentext Cloud Security & Protection Endpoint and Network Security Data Protection, Backup & Migration Threat Intelligence Services Email Encryption Capture & Digitize Store & Manage Analyze & Report Process & Automate Search & Discover Manage & Secure View & Communicate Protect & Secure Open Text ©2022 All rights reserved 12#13Our Vision is Clear in Information Management Business Clouds opentext™| Cloud Content Why OpenText Integrated to your business applications, industry-specific, comprehensive Where We Are Going Next Mid-market with focused GTM New public cloud solutions Our Reach and Impact 1,700 Private cloud customers 300 Enterprise SaaS customers opentext™ Cloud Business Network "Connect once, reach anything" Enabling commerce in 48 countries & expanding IBM competitive play New mid-market & multi-tenant composable apps 35K+ Customers 1M+ Trading partners $9T+ in Commerce opentext Cloud Experience Unified personalization & media Cohesive set of tools & automation Google partnership Private cloud & unified multi-tenant 70% Cloud growth 2x Volume SMS / emails processed opentext™| Cloud Security & Protection Developer Cloud opentext Cloud Developer opentext™ Leading edge & adaptable data protection Built to scale Unique blend of APIs Customer choice on how to buy: volume or value Microsoft partnership MSP growth & unified offering OEM & embedded IP partners New Prof. Services & sales org composable apps 23K MSPs 800K+ SMB supported 285M+ Endpoints secured 25 Public APIs 524 Customers 100% Cloud native Open Text ©2022 All rights reserved 13#14Why Cloud Acceleration Efforts Matter opentext™ Positions us well in fast growing markets Customers achieve faster path to value in their transformations Enables ease of use and increased consumption by customers Comparatively low friction in go-to-market motion Allows for more rapid entry into new markets / segments (e.g., API, SMB) An essential building block to win in the next wave of transformation (e.g., creating data ecosystem in supply chain, digital GDP) Open Text ©2022 All rights reserved 14#15How We Go-to-Market and Our Progress $92B TAM(1) Target Organizations $56B Go-to-Market Motions Large Enterprise 1000+ employees OpenText Direct Sales Global Accounts Enterprise Accounts Corporate Accounts Mid-Market Enterprise 500-999 employees Strategic Partners G SAP Top Growth Programs & Investments . • • New cloud platform & innovations across 5 clouds Full G10K covered by end of CY'23 Summit program growth: top customers & ecosystems • Competitive replacements . • 2x international sales growth Dedicated, centralized services & renewals • International expansion New markets: API's, MDR as a service • Multi-cloud: Microsoft, Google, AWS, Oracle • Partners: Large tech ecosystems through GSIS New cloud platforms & innovations amazon salesforce servicenow • Channel Partners SMB/C • Expand our 23,000 MSP base $36B MSPs RMMs Distributors VARS • The Digital Zone for partner enablement <499 employees • Retail eCommerce Microsoft go-to-market on end-point opentext™ 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). Open Text ©2022 All rights reserved 15#16Powerful Renewal Engine Acceleration Into the Cloud Enables an Expansion Focus Centralized, & Highly-Focused Information Management Renewals Organization Increase in ARR(1) Over Past 10 Years Independent renewals organization empowered to grow and make the right. decisions for customers. $2.7B FY'21 Annual Recurring Revenue 425 Renewal Professionals opentext™ 125K 318% Agreements 90%+ (2) FY'21 Customer Support Margins $657M FY'12 $2.7B Cloud accelerates our opportunity to deliver revenue expansion and continuous update services. Over 30% automated with no human touch and expanding. Machines focus on the renewal. Humans focus on the expansion. Deployed ML/AI technologies into early insights for propensity to renew. FY'21 Amazingly talented and passionate team, delivering results, and always raising the bar. 1. Annual Recurring Revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue. 2. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. Open Text ©2022 All rights reserved 16#17Deeply Talented and Experienced Leadership Team Mark J. Barrenechea Madhu Ranganathan EVP, CFO Muhi Majzoub CEO & CTO Menlo Park, CA EVP, Menlo Park, CA Chief Product Officer opentext™ Menlo Park, CA Ted Harrison EVP, Enterprise Sales Menlo Park, CA James McGourlay Prentiss Donohue EVP, International Sales Waterloo, ON EVP, SMB/C Sales Boulder, CO Kristina Lengyel EVP, Boston, MA Customer Solutions Paul Duggan EVP, Renewals Menlo Park, CA Sandy Ono EVP, CMO Menlo Park, CA Doug Parker EVP, Corporate Development Richmond Hill, ON Brian Sweeney EVP, CHRO Menlo Park, CA Renee McKenzie SVP, CIO Waterloo, ON Michael Acedo SVP, CLO & Corporate Secretary Richmond Hill, ON Open Text ©2022 All rights reserved 17#18Highly Skilled Board of Directors Tom Jenkins Mark J. Barrenechea Chair CEO & CTO Vice Chair Randy Fowlie Major General David Fraser Gail Hamilton Robert (Bob) Hau Sapphire Health Board Member Canadian Forces Foundation, Route1, Inc. Antoxa Corp, Board Member Arrow Electronics Board Member Fiserv, Inc. CFO Debbie Weinstein Diverse Skills Senior Leadership Governance Global Expertise Technology & Innovation. M&A/ Growth Strategy Talent Financial and Accounting Experience & Commitment 10+ years of average tenure 83% independent Ann M. Powell Steve Sadler Harmit Singh Michael Slaunwhite Kate Stevenson Global Bristol Myers Levi Strauss Squibb Chief HRO Enghouse Systems CFO Halogen Software Former CEO CIBC Chair LaBarge Weinstein Law Firm Chair opentext™ Open Text ©2022 All rights reserved 18#19Financially Positioned for Continued M&A Growth Free Cash Flows (1)(2) (US$M) Target Capital Allocation Strategy(3) 82% $812 Available for corporate purposes $445 24% of Revenue 24% of Revenue FY'15 opentext™ FY'21 ~67% TTM Free Cash Flows Dividends and anti-dilutive share buyback Cash and Committed Liquidity (4) (US$) $2.3B ~ 33% Net Leverage Ratio(5) 2.0x 1. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. 2. For the year ended June 30, 2021. Includes IRS settlement payment of $299.6M. FCF/Revenue is calculated as FCF expressed as percentage of total revenue. 3. Strategy subject to change based on acquisition opportunities or other corporate purposes. Corporate purposes may include acquisitions, debt repayment, share repurchases or other initiatives. 4. Excludes restricted cash. Includes Cash and the Undrawn Revolver of $750 million as of December 31, 2021. 5. Calculated as of December 31, 2021. Consolidated Net Leverage Ratio (pro forma) is calculated using bank covenant methodology. Open Text ©2022 All rights reserved 19#20Strong Capital Return and Debt Structure Dividends Paid and Shares Repurchased (US$M) Dividends Paid (7-year CAGR): 16% (1) Shares Repurchased ■Dividends $65.5 $119.1 $210.1 . Target Capital Allocation Strategy 33% TTM FCF via dividends & buyback (3) 67% TTM FCF available for corporate purposes including M&A Our Senior Notes are Fixed Rate and Do Not Vary with Inflation Debt Maturity Profile (4) $933 $228.4 $210.7 $188.7 $168.9 $145.6 $120.6 $99.3 $87.6 $74.7 $17.7 Millions USD $900 $850 $900 $650 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 TTM(2) $10 $10 $10 $10 Approx. $1.5 billion returned to shareholders since FY'13 CY'21 CY'22 CY'23 CY'24 CY'25 CY'26 CY'27 CY'28 CY'29 CY'30 CY'31 Term Loan B ■Senior Notes 1. 7-year CAGR from FY'14 to FY'21. opentext™ 2. Trailing twelve months as of Q2 FY'22. 3. Strategy subject to change based on acquisition opportunities or other corporate purposes. Corporate purposes may include acquisitions, debt repayment, share repurchases and other initiatives. OpenText ©2022 All rights reserved 4. Undrawn Revolving Credit Facility of $750m matures in October 2024. 20#21FY'22 OpenText Total Growth Strategy(1) FY'21 Actual (1) FY'22(2,3) $1,407.4 Cloud 8% - 10% Double-digit cloud revenue and Zix contribution $1,334.1 Customer Support Constant Continued strong renewals $2,741.5 ARR Low mid single-digit 81% of revenue, predictable recurring business $384.7 License Constant 3% - 4% Off-cloud demand from large and regulated customers remains steady Growing demand for Strategic IM Advisory Services Continued track record of growth $259.9 Professional Services Mid single-digit $3,386.1 Total Revenues opentext™ 1. All dollars in USD million. 2. As of February 3, 2022. 3. M&A is additive. Open Text ©2022 All rights reserved 21#22FY'24 Medium-Term Aspirations Organic Growth (1) 2% -4% Strategic GROW with OpenText programs ARR 85% % of Total Revenue Growth in cloud as a percent of total Mid-90s Customer Support renewals and cloud subscriptions A-EBITDA (2) (margin) 38% - 40% Improved margin through growth, scale and automation Free Cash Flows (2) (FCF) $1.2B+ Targeting upper 20%'s FCF as percent of revenue Capital Allocation (3) M&A opentext™ 33% of FCF 33% dividends and anti-dilutive buybacks 67% for M&A and other corporate purposes M&A is additive to our model 1. Revenue % are year-over-year comparisons. 2. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. 3. Strategy subject to change based on acquisition opportunities or other corporate purposes. Corporate purposes may include acquisitions, debt repayment, share repurchases, or other initiatives. Open Text ©2022 All rights reserved 22#23Our Longer-Term Aspirations In Information Management To be the leading cloud-based Information Management company, enabling intelligent, secure and connected businesses for customers of all sizes #1 in Every Cloud Longer-Term Aspirations Double the Company Up to 4% Organic Growth Plus M&A $6B+ in Free Cash Flows (1) opentext™ 1. Represents estimated cumulative FCF. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. OpenText ©2022 All rights reserved 23#24GROW with OpenText Muhi Majzoub, EVP, Chief Product Officer opentext™ Investor Day 2022#25Key Messages We are the clear market leader in Information Management positioned for growth We believe the edge is as important as the cloud GROW with opentext™ The Ultimate Cloud™ Accelerating our investment and growth in the cloud Customers are moving from systems of record to systems of information Every customer has made a multi- cloud decision Investing in the future: API & applications for future growth opentext™ Open Text ©2022 All rights reserved 25#26The Future Cloud Platform for Information Management And Our Strong Track Record of Innovation Red Oxygen (2013) Blue Carbon (2015) Five new product suites Integration & ease of deployment One GTM for on- prem & cloud OpenText Business Network & Magellan Cloud Editions (2020) Information Management on the cloud deploy & run anywhere opentext™ Minority of our investments in cloud technologies The Ultimate Cloud (2022) Designing 4 different ways to consume in the cloud for companies of all sizes (off-cloud, public, private, API) Future Drivers Open & integrated Information. Management Applications Multi-cloud partnerships Cloud + Edge New markets (e.g. API) Today Future Majority of our investments in cloud technologies 80%+ of our investments in cloud technologies OpenText ©2022 All rights reserved 26#27Information Management: Investing to Win 4,500+ Developers up 4x over 8 years 90 Days New Releases Future: 80%+ of Our Investments Will be in Cloud Technologies R&D% R&D Investment ($ and in % of Total Revenues)(1)(2) of Total Revenues 12.2% R&D US$ 11.7% 10.5% 12.2% 1,000+ Patents $194M $365M $412M $421M FY'15 FY'20 FY'21 Q2 FY'22 TTM 1. opentext™ Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non- GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. Open Text ©2022 All rights reserved 27 2. Refers to non-GAAP R&D expense. Refer to note 1 of our Fiscal 2019 10-K for details on the impact of recently adopted accounting standards on prior period results.#28Open Text Cloud is Leading in the Market opentext Cloud Content Market Leader Master Modern Work Forrester Wave™: Content Platforms, Q2 2021 opentext Cloud Experience Power Modern Experiences Market Leader IDC MarketScape: Worldwide Customer Communications Management, 2020 opentext Cloud Developer opentext™ Newgen Software Technologies- OpenTextur BM ° Na O Laserliche CMF GAM Information Management Goog Documents Software Maragn Oper Pants opentext Cloud Business Network Digitize the Supply Chain Market Leader IDC MarketScape: Worldwide Multi-Enterprise Supply Chain Commerce Networks, 2021 opentext Cloud Security & Protection Be Cyber Resilient Market Innovator Build the API Economy Information-Led Transformations Bantco Res OpenTe TIL TrueCommerce Curtar Market Leader PC Editors' Choice PCMag: The Best Antivirus Protection for 2022 PC EDITORS' PCMAG.COM CHOICE 22 TIME WINNER CYBER SECURITY EXCELLENCE AWARDS *WINNER* 2021 BUSINESS SE Labs AAA JAN-MAR 2021 SENDPOINT PROTECT Customers using APIs Zero to 25 APIs over last two years Open Text ©2022 All rights reserved 28#29Our Vision is Clear in Information Management The Digital Zone opentext | Cloud Content Business Clouds Single Sign-On Resources & Enablement Learn, Try, Buy Provision & Support Renewals Digital Ecosystem MSP's Open Text Cloud The Ultimate Cloud™ Cloud Editions Architecture Trading Partners Connected Subscribers Private Cloud opentext™ opentext Cloud Business Network Content Management Capture & Archiving Ecosystem Integrations Digital Business Integration Data Management & Security Industrial IoT Solutions Secure Viewing Collaboration & Signature Industry Solutions Identify & Access Management Supply Chain Optimization Procure-to-Pay Order-to-Cash opentext | Cloud Experience Customer Analytics, Al & Insights Customer Communications Digital Fax Endpoint Detection & Response (EDR) Process & Collaboration Voice & Contact Center Digital Asset Management Digital Investigations & Forensics opentext™ | Cloud Developer Developer Cloud opentext Cloud Security & Protection Endpoint and Network Security Data Protection, Backup & Migration Threat Intelligence Services Email Encryption Capture & Digitize Store & Manage Analyze & Report Process & Automate Search & Discover Manage & Secure View & Communicate Protect & Secure Open Text ©2022 All rights reserved 29#30Customers Creating Information-Led Transformations opentext™| Cloud opentext Cloud Content Becoming a fully digital enterprise in order to deliver the future of electric vehicles opentext Cloud Business Network Nestle Unlocking the power of food to enhance the quality of life with a digitized and connected supply chain opentext Cloud Experience PG&E Ⓡ Delivering seamless customer experiences at scale to handle peaks of crisis communications opentext Cloud Security & Protection f5. Protecting customers from malicious activities with continuous, scalable URL threat checks opentext Cloud Developer Ontario Facilitating access to social assistance with a fully digital customer experience opentext™ Open Text ©2022 All rights reserved 30#31opentext Cloud Content Master Modern Work Content Management Capture & Archiving Secure Viewing Collaboration & Signature Industry Solutions 12,900+ Customers Ecosystem Integrations Why OpenText: • Robust innovation roadmap with public cloud solutions, geo expansion with hyperscaler support, and US FedRamp Integration with leading applications (e.g., SAP, Salesforce, Microsoft) End-to-end offering from Capture to Case Management to Document Generation and Archiving Industry-specific solutions Growth Mid-market expansion Replace large incumbents Dedicated sales team Current Market Share New multi-tenant solutions Expanding sales coverage Google, Microsoft Innovation 1,700 Private Cloud Deployments >20M End Users opentext™ Landmark Customers ASDA SFO TM serious fraud office Open Text ©2022 All rights reserved 31#32Digital Business Integration Identify & Access Management opentext Cloud Business Network Data Management & Security Supply Chain Optimization Industrial IoT Solutions Procure-to-Pay Order-to-Cash 35,000+ Customers 1M+ Trading Partners Digitize the Supply Chain Why OpenText: Full-suite innovation roadmap ahead with self-service capabilities, ERP adapters, and API integration for 3PLs & eMarketplaces Integration capabilities supporting standard EDI, 20+ - protocols, and APIs – "connect once, reach anything" E-Invoicing compliance support covering 48 countries and growing Growth IBM competitive play (SPS Commerce) Expanded sales coverage Sustainability initiatives (pledge to progress) Current Market Share New multi-tenant solutions New mid-market offerings Composable apps (DTC, IOT, AI/ML, APIs) Innovation 100+ Countries opentext™ Landmark Customers gm DELL BMO BMO Bank of Montreal M W Nestle Open Text ©2022 All rights reserved 32#33Customer Analytics, Al & Insights Process & Collaboration opentext™| Cloud Experience Customer Communications Digital Fax Voice & Contact Center Digital Asset Management 15,000+ Customers Power Modern Experiences Why OpenText: Forward-looking innovation roadmap with predictive segmentation, journey analytics, and content intelligence Unified personalization and media for communications and experiences Growth Google partnership Growth in sales coverage Migration with Professional Services 8B+ Messages Delivered Cohesive set of tools and automation for optimizing the customer journey Current Hybrid headless CMS, CCM, and DAM(1) Market Share Landmark Customers BNY MELLON | PERSHING MSIG RBC 1. Content Management Systems (CMS), Customer Communications Management (CCM), Digital Asset Management (DAM). opentext™ Private cloud offering Unified multi-tenant offering Innovation L'ORÉAL Open Text ©2022 All rights reserved 33#34opentext | Cloud Security & Protection Endpoint Detection & Response (EDR) Endpoint and Network Security Data Protection, Backup & Migration Digital Investigations & Forensics Threat Intelligence Services Email Encryption 800,000+ SMB Customers 285M+ End Users Protected Be Cyber Resilient Why OpenText: Joint innovation roadmap in delivering Microsoft's new commerce experience, DNS leak prevention, anti- ransomware protection Leading edge protection 23,000 MSPS Adaptable data protection with a wide range of backup solutions Built to scale handling an - average of 40k API calls per second Growth Competitive plays Microsoft partnership Growth in MSPS Current Market Share Unified security offering Investment in MDR, NDR, XDR Innovation 45M+ EDR(1) Agents Globally pwc f5 Landmark Customers יווי 11.11. CISCO 1. Endpoint Detection Response (EDR) agents are software agents that conduct endpoint monitoring. opentext™ CA Akamai Open Text ©2022 All rights reserved 34#35Capture & Digitize opentext Cloud Developer Store & Manage Search & Discover Manage & Secure Analyze & Report View & Communicate Process & Automate Protect & Secure 110 Billion API calls per month 524 Customers 100% Cloud Native 25 APIs Content | Security | Capture | Signature | SMS | Email | Fax | Push | Tokenization | IAM | IoT Build the API Economy Why OpenText: Targeted innovation roadmap with unique blend of APIs for Information Management - with new ones every quarter Extension of current applications using the same APIs on which they are built Customer choice on how to buy - APIs sold by volume or value 10,000+ developers in community engaging with new tools and experimenting BARCLAYS Growth OEM & embedded IP partners New Professional Services practice New sales organization Current Market Share Landmark Customers SAP Ontario R opentext™ New relevant APIs Attach to new cloud deals Composable applications M&A Innovation Open Text ©2022 All rights reserved 35#36Our Strategic Priorities are Clear Be #1 in every cloud Leverage partners to support multi-cloud: Google, Microsoft, AWS, SAP, etc. Build the cloud platform of the future: 80%+ of future investments will be in cloud technologies Go faster: developers, features, customers Deliver frictionless customer experiences opentext™ Future technologies (API, IoT, Edge, sustainability, and more) Open Text ©2022 All rights reserved 36#37GROW with OpenText Ted Harrison, EVP, Enterprise Sales opentext™ Investor Day 2022#38Key Messages GROW with opentext™ The Ultimate Cloud™ >1,000 enterprise salespeople covering 42 countries Global 10K coverage increased to 66% Summit program - top OpenText customers and top supply chains Selling across enterprise and mid-market Partners are a force multiplier opentext™ Cloud bookings are in high growth OpenText ©2022 All rights reserved 38#39How We Go-to-Market and Our Progress $92B TAM(1) Target Organizations $56B Go-to-Market Motions Large Enterprise 1000+ employees OpenText Direct Sales Global Accounts Enterprise Accounts Corporate Accounts Mid-Market Enterprise 500-999 employees Strategic Partners G SAP amazon salesforce Top Growth Programs & Investments . • • New cloud platform & innovations across 5 clouds Full G10K covered by end of CY'23 Summit program growth: top customers & ecosystems • Competitive replacements . • 2x international sales growth Dedicated, centralized services & renewals • International expansion New markets: API's, MDR as a service • Multi-cloud: Microsoft, Google, AWS, Oracle • Partners: Large tech ecosystems through GSIS New cloud platforms & innovations servicenow • Channel Partners SMB/C • Expand our 23,000 MSP base $36B MSPs RMMs Distributors VARS • <499 employees The Digital Zone for partner enablement • Retail eCommerce Microsoft go-to-market on end-point opentext™ 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). OpenText ©2022 All rights reserved 39#40New Customers: Broadening our Global 10K Coverage G10K(1) Coverage Increased to 66% North America 88% Europe 75% Emerging Markets Japan 34% • Current Coverage Marquee customers with transformative requirements 5,800 covered in FY'21, tracking 6,600 in FY'22 On track to reach full coverage (80%+) by end of CY'23 APAC LATAM 33% 54% 30% opentext™ 1. G10K coverage represents the 10,000 largest organizations in the world. Open Text ©2022 All rights reserved 40#41The World's Leading Companies Trust OpenText As our top customers accelerate to digital, we accelerate with them Life Sciences Financial Consumer Goods Technology Manufacturing Telecom 10 of top 10 8 of 10 of 10 of 10 of 8 of top 10 top 10 top 10 top 10 top 10 MERCK citi L'ORÉAL Google W AT&T opentext™ Open Text Summit Program: Our 100 largest customers Open Text ©2022 All rights reserved 41#42Summit Program: Connecting to 80% (1) of Gartner's 2021 Top 50 Supply Chains 1. Cisco 2. Colgate Palmolive 3. Johnson & Johnson 4. Schneider Electric 5. Nestlé 6. Intel 7. PepsiCo 8. Walmart 9. L'Oréal 10. Alibaba ✓ 11. AbbVie 12. Nike 13. Inditex 14. Dell Technologies 15. HP Inc. 16. Lenovo 17. Diageo 18. Coca-Cola 19. BAT 20. BMW 21. Pfizer 22. Starbucks 23. General Mills 24. Bristol Myers Squibb 25. 3M opentext™ 26. CVS Health ✓ 27. GlaxoSmithKline ✓ 28. Reckitt Benckiser 29. H&M ✓ 30. Kimberly Clark ✓ 31. Novartis ✓ 32. Amgen ✓ 33. Lockheed Martin ✓ 34. HP Enterprise ✓ 35. Novo Nordisk ✓ 36. Astra Zeneca ✓ 37. Philip Morris Int. ✓ 38. Home Depot 39. Target ✓ 40. Best Buy ✓ 41. AB InBev ✓ 42. Danone 43. Biogen ✓ 44. Siemens ✓ 45. Nokia ✓ 46. Bayer ✓ 47. Qualcomm 48. Taiwan Semiconductor ✓ 49. Estée Lauder ✓ 50. Kellogg Company 1. Source: Calculation based on data from Gartner Top 25 Supply Chains, 2021. 25 Gartner Supply Chain Top 25 We are building large industry ecosystems in our network for CPG, Retail, FS and others OpenText is the only cloud company which can do this globally, at this scale OpenText thrives in answering very complex global requirements: global invoicing, track and trace, regulated industries In addition to Gartner's Supply Chain Top 25, OpenText also serves four of five Gartner 'Supply Chain Masters': Apple, Unilever, P&G, and Amazon. OpenText ©2022 All rights reserved 42#43GROW OpenText Opportunities 33% Competitive Takeouts Install-Base Using Cloud Editions IBM Sterling Commerce IBM FileNet SPS Commerce Migrate Install-Base R16 to Cloud Editions Strong momentum in cloud bookings New Customers and Workloads Majority of new customers are on cloud 37% Cloud Wins are New Customers opentext™ Expanding Partnerships New Markets Hyperscalers SAP Salesforce.com Global System Integrators Mid-market International expansion New Cloud Solutions Innovating with new customer value every 90 days Building a new API business Open Text ©2022 All rights reserved 43#44Partners: A Force Multiplier SAP Google opentext™ Top cloud & off-cloud partner Highest growth cloud Public cloud partnership Joint GTM with Workspace Microsoft Supporting customers who have chosen Microsoft Leading partnership with SMB/C aws salesforce New Partnerships OpenText's largest cloud platform Deepen relationship with joint GTM planning ServiceNow Infor AT&T Cerner Open Text ©2022 All rights reserved 44#45GROW with Open Text - Recent Wins Close Brothers Exelon Kimberly-Clark Alcoa £5 New Customer Beat IBM Content Cloud with Salesforce.com integration and Xstream to drive customer experience SAP Cloud Partner Open Text's XECM integrated with Qualtrics and SuccessFactors to enable employees to upload vaccination details And for Starbucks to store/manage these credentials R16 → Cloud Editions One of the largest nuclear operators in the world, entrust highly secure information to the OpenText cloud and upgrade to 21.2 New Customer Beat IBM Open Text to manage Supply Chain and decommission a long-standing relationship with IBM for their EDI solutions. Kimberly-Clark increases our top 50 supply chain Core Content A departmental use case to manage ~100K documents Migrate to Core Content API Win Increased commitment to BrightCloud as their Threat Management solution opentext™ footprint Open Text ©2022 All rights reserved 45#46Our Strategic Priorities Are Clear Summit programs: grow top customers and supply chain accounts Migrate install-base R16 Cloud Editions GROW partners: our force multiplier Competitive takeouts Full Global 10K coverage by end of CY'23 Winning new customers and new markets opentext™ OpenText ©2022 All rights reserved 46#47GROW with OpenText James McGourlay, EVP, International Sales opentext™ Investor Day 2022#48Key Messages Summit programs: GROW top customers and top supply chain accounts Business Network expansion GROW with opentext™ The Ultimate Cloud™ Migrate install-base R16→Cloud Editions Deepen and expand partnerships Continue to invest in proven successful countries Double sales coverage opentext™ OpenText ©2022 All rights reserved 48#49Foundation for Growth International Sales Region $18.6B +10% ~10% of OpenText revenue +15% Long-Term Aspiration TAM (1) Market growth Cloud growth 5 of top 10 35% GDPs Coverage of the 3,845 international sales region G10K accounts 450 Sales professionals Double our International Sales Region Revenue 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). opentext™ Open Text ©2022 All rights reserved 49#50International Sales Region Coverage Sub- region Countries Global 10K Accounts G10K Coverage TAM (1) Australia, New Zealand, India, Korea, APAC 875 54% $5.7B Singapore, Indonesia, Philippines, Vietnam Japan Japan 1,170 34% $4.5B Greater China China, Hong Kong, Taiwan & Macao 758 24% $2.5B Brazil, Mexico, LATAM Argentina, Chile, 384 30% $2.4B Colombia, Peru Africa & South Africa, Saudi Middle East Arabia, UAE, Qatar 306 33% $1.7B Central & Poland, Czech Eastern Europe 352 18% Republic $1.8B Total 3,845 35% $18.6B 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). opentext™ Open Text ©2022 All rights reserved 50#51GROW With OpenText Opportunities 35% Coverage of G10K accounts in international sales region Full coverage by end of CY'23 Summit Programs Migrate Install-Base R16 Cloud Editions 3,845 of G10K accounts Business Network Expansion 21% of international accounts on Cloud Editions Deepen penetration into existing supply chain ecosystems Expand opportunity with mid- market solution 21% Of 13,500 international sales region OT customers are on Cloud Editions opentext™ Deepen and Expand Partnerships Grow Key Regions Double Sales Coverage SAP Global System Integrators Google Japan APAC Middle East Current coverage 35% of international sales region G10K accounts OpenText ©2022 All rights reserved 51#52Customer Success Stories R16-Cloud Editions Expanding Partners as a Force Multiplier Competitive TIM Agility Optimize Customer Invoicing Digitally interact with 18M customers Elevating customer experience & satisfaction Reduces operational costs Streamline Shipping Enhanced customer satisfaction with secure immediate self-service Accelerated shipment processing & payments JCB Accelerates Business Partner Onboarding B2B Managed Service streamlines onboarding process Improves business partner satisfaction Accelerates introduction of services internationally Cloud based Improved sustainability process IT burden integration reduces NZTRANSPORT AGENCY WAKA KOTAHI Content Management Serving citizens more efficiently with Enterprise Content Management in the cloud Increased staff productivity and engagement Improved service with the same overhead MSIG Omnichannel Experience Seamless digital experience drives customer satisfaction Adaptability platform to meet changing needs Lowered expenses and operational efficiency Takeout opentext™ Open Text ©2022 All rights reserved 52#53Continued Growth in Key Regions opentext™ Middle East and Africa $1.7B TAM 33% G10K Coverage Japan $4.5B TAM 34% G10K Coverage Expand and deepen customer coverage Drive information-led transformations Leverage and expand partner relationships SMB/C rapid growth APAC $5.7B TAM 54% G10K Coverage Open Text ©2022 All rights reserved 53#54Our Strategic Priorities are Clear Deepen footprint to accelerate growth in international markets Utilize OpenText global strength to enable growth Partners as a force multiplier opentext™ Migrate install-base R16- Cloud Editions Full Global 10K coverage by end of CY'23 Long-term aspiration: double international sales region revenues OpenText ©2022 All rights reserved 54#55GROW with OpenText Paul Duggan, EVP, Renewals opentext™ Investor Day 2022#56Key Messages opentext™ One team Proven value GROW with opentext™ The Ultimate Cloud™ Growth by transformative engagement Growth by retention and expansion Scaling with Al/ML Growth by update, security and other services OpenText ©2022 All rights reserved 56#57Renewals at OpenText Centralized & Highly-Focused Information Mgmt. Renewals Organization $2.7B 125K Increase in ARR(1) Over Past 10 years FY'21 Annual Recurring Revenue (1) Agreements 425 90%+' Renewal Professionals FY'21 Customer Support Margins (2) opentext™ 318% $2.7B $657M FY'12 FY'21 1. Annual Recurring Revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue. 2. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP- based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. OpenText ©2022 All rights reserved 57#58Be Deserving of Trust renew verb re-new |\ ri-'nü to make like new: restore to freshness, to begin again. revive: restore, bring back. regenerate: restored to a better, higher, state Renewing is a decision, not a transaction Trust takes years to build, and seconds to break Drivers: consumption, relationship, value Our approach: customer management vs. contract management, interlocked engagement with sales and support, first-responders and trusted partner citibank United Healthcare I+I Government 16 YEARS Support CSAT Scores 87% FY'15 FY'15 to Present 96% FY'22(1) Top 100 customers avg tenure with OpenText 46 5-year ARR expansion of Canada PERCENT for these customers opentext™ 1. As of Q2 FY'22. Open Text ©2022 All rights reserved 58#59Delivering Proven & Sustained Value Renewal Resilience & Operational Excellence Continuous updates & innovation OpenText Renewal Rates (1) Are Stable and Unwavering Despite an Unpredictable World Renewal Rates 5 year trending, Combined Rate for Off Cloud + Cloud Robust systems & cadence Disciplined pricing practices Flexible support programs Policy, controls, & procedures Brexit Referendum CA Wildfires Mexico earthquakes COVID 19 Taliban & Afghanistan 2020 Market Crash Omicron Dengue fever epidemic 94% Tenured world-class leadership 91% Khashoggi assassination Floyd / BLM Inflation US Election Segmentation HK Protests Role specialization N. Korea Nuclear Tests Armenian revolution US impeachment Delta variant 1. Average renewal rates for off-cloud and cloud (Q3 FY'17 to Q2 FY'22), with inclusion of cloud renewal rate starting Q2 FY'20. opentext™ Open Text ©2022 All rights reserved 59#60Our Next Altitude in the Cloud ● • Planning Imperatives Complete the transition from renewals to customer management via automation New retention, expansion, and cross-selling programs to unlock growth Dedicated organization to lead cross functional interlock and execution • World class onboarding and enablement Step function to 2-4% organic growth opentext™ Transformative Engagement Retention & Expansion Cross-Sell & Upsell Business Practices, Insights, and Al Onboarding & Enablement Open Text ©2022 All rights reserved 60#61Growth by Transformative Engagement Renewals Representatives From: Transactional 2x Customer Manager Capacity To: Phase 1: FY'22 Consumption & Expansion Renewal Customer Manager Customer Manager High Touch Key Accts Top spend and/or strategic Relationship Driven Phase 2: FY'23+ Regional Segmentation Launch self service portal Centralize process in Digital Renewal Center Deploy Customer Managers across enterprise contracts automated opentext™ 80% Self Service Auto Renew STRATEGIC ENTERPRISE Customer Manager Focused Touch Profile-based approach Al-guided/driven DIGITAL Renewal Rep No-Low Touch Monitoring exceptions Adoption of self-service Automation No Touch Open Text ©2022 All rights reserved 61#62Growth by Retention and Expansion Long-Range Risk Management and Programs Off-Cloud Support Programs and Pricing Cloud Expansion at Renewal Early identification of the risk in our contract base as well as potential cancellation drivers, and long-term remediation plans Annual Price Adjustment and Extended Support programs for customer flexibility, deploying to cloud renewals in FY'22 Proactive monitoring and outreach on usage to customers, recontract at higher commit and longer-term opentext™ Upper Quadrant Performance 95% 93% Q2 FY'22 Future Open Text ©2022 All rights reserved 62#63Growth by Cross-Sell & Upsell Successful Lead Pass Program Generated incremental cloud bookings in the first half of FY'22 via lead pass from Customer Managers Top 200 programs, interlocked with sales. Renewal expansion, additional capacity, community outreach Creating New Paths to Growth Managed Services & OnDemand Messaging into B2B Cloud IAM/IoT to Business Networks SMB and Zix opportunities Professional Services (PS) packages/assessments Cloud Editions (CE) upgrade NORDSTROM • opentext™ • Customer since 2000 Started as VAN and catalogue customer Today includes Managed Services, Compliance Link, Active Intelligence, and BizLink Replicating this motion across our retailers OpenText ©2022 All rights reserved 63#64Business Practices: The Inches Are All Around Us &S ঘ Quality of Sale Systems Contracting Integrated Dashboards Annual Price Adjustment Onboarding & Enablement Growth is Granular Collectively these areas can bring an additional 100-200 bps of renewal rate improvement Drives how and where we spend time – reallocation of time to customer relationships - opentext™ Business Insights + Al Open Text ©2022 All rights reserved 64#65Our Strategic Priorities are Clear One team, deserving of trust, proven value Automate the process, so humans can add more value Upper quartile performance for a renewal/expansion organization Create an expansion business in cloud renewals Deploy more AI/ML & continuous improvement of business practices Invest in the install-base, cross-sell, and migrate them to the cloud opentext™ Open Text ©2022 All rights reserved 65#66GROW with OpenText Prentiss Donohue, EVP, SMB/C Sales opentext™ Investor Day 2022#67Key Messages Established SMB Powerhouse Security remains high priority for SMBs opentext™ GROW with opentext™ The Ultimate Cloud™ 23,000 MSPs One of the largest SMB channels Strategic relationship with Microsoft Open Text ©2022 All rights reserved 67#68How We Go-to-Market and Our Progress $92B TAM(1) Target Organizations $56B Go-to-Market Motions Large Enterprise 1000+ employees OpenText Direct Sales Global Accounts Enterprise Accounts Corporate Accounts Mid-Market Enterprise 500-999 employees Top Growth Programs & Investments . • • New cloud platform & innovations across 5 clouds Full G10K covered by end of CY'23 Summit program growth: top customers & ecosystems • Competitive replacements . 2x international sales growth • Dedicated, centralized services & renewals Strategic Partners G SAP amazon salesforce servicenow Channel Partners • International expansion • New markets: API's, MDR as a service Multi-cloud: Microsoft, Google, AWS, Oracle Partners: Large tech ecosystems through GSIS New cloud platforms & innovations SMB/C • Expand our 23,000 MSP base $36B MSPs RMMs Distributors VARS • <499 employees Retail eCommerce The Digital Zone for partner enablement Microsoft go-to-market on end-point opentext™ 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). Open Text ©2022 All rights reserved 68#69Powerful Industry Trends SMBs represent a huge growth opportunity for Open Text 66% 44% of US GDP(1) of new US jobs (1) SMBs are vulnerable to cyber attacks due to lack of IT skills 94% of malware sent via email, common method of attack (2) ~53% of SMBs take weeks, months or years to discover they have been compromised (3) Microsoft Partnership ~90% Productivity Suites (4) 96% of companies who have a backup and recovery plan, survive ransomware(2) 61% of CIOS expect to increase cyber security spending (5) opentext™ (1) Source: US Small Business Administration. (2) Source: Zix Investor Presentation, August 20, 2021 and Zix Financial filings. (3) Source: Verizon 2021 Data Breach Investigations Report. (4) Source: Gartner Report: "Google Workspace Continues to Slowly Take Market Share From Microsoft Office and Office 365" by Craig Roth, July 27, 2021. (5) Source: Gartner CIO Agenda 2021, survey of 1,877 CIO Execs, https://www.information-age.com/gartner-cio-agenda-2021-spending-cyber-security-most-projected-123492611/. Open Text ©2022 All rights reserved 69#70Welcome Zix! Snapshot Founded / HQ / Headcount 1988 Dallas TX / 525 Solution Offerings Target Markets and Footprint Customers 50% of business is from re-selling M365 solutions (one of 9 recognized CSPs) - No industry concentration – 20% healthcare, 17% financial services, 3% gov't ~90% North America (most US), 10% EMEA 100k+ customers, mostly SMBs 5,600 active MSPs 101% net dollar retention M Solution Platform Overview Email Security & Data Protection and Microsoft go-to partner for SMBs (via AppRiver Acquisition, 2019) Business box Applications ryption Zix Secure Cloud Cloud Back Up ail Threat Erotection Insights Security Email Continuity Resilience DLP Compliance Security Microsoft at the Core Cyber Intelligence Extensible APIs Phenomenal Care Secure File Share Unified Archiving Communication A in cation Applications f SMS opentext™ Open Text ©2022 All rights reserved 70#71Foundation for Growth - SMB Powerhouse Carbonite (including Webroot & Brightcloud), Zix (including AppRiver) 23,000 1,881 MSPS +26% this FY VARS +38% this FY 818K Businesses Supported +12% this FY 147 OEMS 17 New last FY +14% Products & Solutions Cyber Resilience . Backup Security Awareness Training Threat Protection Email Security Threat Intelligence Recovery Ecosystem • 23,000 MSPS ● 13 RMMs . 1,881 VARS Microsoft • Partners Distributors Retail Talent 17 Countries with our security experts • 2,000+ Focused on SMB 500+ Product and engineering experts opentext™ Open Text ©2022 All rights reserved 71#72SMB At Scale: Positioned for Faster Growth Scaled SMB Presence in 2 Years Major Partnerships Microsoft New Commerce $36B TAM (1) ~8% CAGR Major Product Enhanced End-point protection Enhanced Stronger anti- consumer Releases efficacy ransomware protection experience- Experience common console (NCE) M&A 2019 More Products, Partners and Acquisitions 23,000 CARBONITEO® BrightCloud® WEBROOT® Zix CLOUD ALLY appriver MSPs Enhanced Security Platform For MSPs 2022 Future 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). opentext™ Open Text ©2022 All rights reserved 72#73The Threat Intelligence Foundation BrightCloud® Continuously and automatically analyzes and interprets threat data using advanced machine learning and artificial intelligence URLS 43B+ Domains 999M+ 2021 Active Mobile Apps Real World-Sensors 37M+ 285M+ 37B+ File Behavior Records IP Addresses (IPv4 and IPv6) | 4.38B+ Emails blocked and quarantined (Zix) 6.5B+ Source: https://www.webroot.com/us/en/lp/2022-threat-report-executive-summary opentext™ Webroot BrightCloud® Threat Report CARBONITE + WEBROOT Bach Train Protect Restr 2022 Report Coming Soon! Open Text ©2022 All rights reserved 73#74Microsoft is a Strategic Partner to Open Text Microsoft Cloud Solution Provider Scale and Growth OpenText is a Top 5 CSP in North America Engagement & Conversion 88,000 M365 Contracts Cross-sell/ Upsell Secure Email Cloud Backup Endpoint Backup Secure File Share SAT DNS opentext™ OpenText ©2022 All rights reserved 74#75Our Strategic Priorities are Clear #1 SMB security provider New MSP partners Digital Zone for partners opentext™ Accelerate Microsoft M&A into MSPs, with our IP Open Text ©2022 All rights reserved 75#76GROW with OpenText Doug Parker, EVP, Corporate Development opentext™ Investor Day 2022#77Key Messages GROW with opentext™ The Ultimate Cloud™ M&A is a core function at OpenText: we own and invest in our own M&A team and capabilities M&A is strategic to OpenText and helped establish our leadership in Information Management Future M&A aligned with TAM segmentation, focused on growth assets, accelerating cloud growth and delivering superior capital returns We have the financial strength and flexibility to deploy capital at scale for long-term value creation opentext™ OpenText ©2022 All rights reserved 77#78Foundation for Growth Shaping the company through strategic M&A aligning to key markets and adjacencies Content Services documentum IXOS Catalyst ACTUATE The BIRT Company" Nstein Hummingbird" Global 360 METASTORM Business Network GXS™ covisint® LIAISO N° ANX XMedius easylink services Digital Experience V VIGNETTE HIGHTAIL StreamServe™ artesia Selected HP assets Security & Protection CARBONITEO® Zix BRICATA. GUIDANCE (G SOFTWARE Content Management to Information Management opentext™ Evolution from off-cloud to cloud Market expansion from enterprise to SMB Open Text ©2022 All rights reserved 78#79M&A Aligned with TAM Segmentation TAM (1) CY'22 Market Size ($B) CY'22-'25 CAGR % Content $24B Potential M&A Targets Acquirable Revenue >200 >$5B Services 11% Large fragmented markets with no scarcity of assets Business $22B >400 >$3B Network 9% ------- > $20B Leading with market segmentation Digital $25B >200 >$5B Experience 7% of M&A Opportunity Cash and committed Security & $21B liquidity of $2.3B with significant cash flow aspirations >200 >$5B Protection 9% $92B Total 9% >1,200 companies >$20B opentext™ 1. Source: Estimates based on individual market reports from International Data Corporation (IDC). Open Text ©2022 All rights reserved 79#80Our Approach and Principles 25 Highly Experienced and Dedicated Professionals သ Source Engage Diligence Acquire Aligning to faster-growing and larger markets Aligning to accelerating our cloud strategy Integrate Proven world-class integration to drive sustainable growth synergies and operational excellence opentext™ Open Text ©2022 All rights reserved 80#81Carbonite Acquisition Case Study Acquired Carbonite Case Study • 12/24/19 for 2.8x TTM revenue (1) Executing Our Playbook Strategic Rationale • Revenue Synergies • • Expense Synergies • . Critical mass in Security & Protection Scaled SMB channel Strong growth prospects Cross-sell opportunities Increased corporate ARR Increased cloud margins On target model in <12 months Improved cash conversion cycle Less than 3x revenue ✓ Accelerated cloud revenue ✓ Strong FCF profile ✓ Acquiring new SMB platform ✓ Attractive growing TAM ✓ Integration complete opentext™ 1. Total purchase price is approximately 2.8x TTM (Trailing Twelve Months) Carbonite GAAP revenues (as of September 30, 2019), inclusive of annualized full year reported Webroot GAAP revenues, a significant acquisition which closed in March 2019. Open Text ©2022 All rights reserved 81#82Zix Acquisition Case Study Acquired Zix Case Study 12/23/21 for 3.6x TTM revenue (1) Executing Our Playbook Less than 4x revenue Strategic Rationale Revenue Synergies • Expense Synergies • • SMB platform expansion MSP go-to-market alignment Complementary product portfolio Cyber resiliency cross-sell opportunities Customer entry point via Microsoft resell Increased corporate ARR Increased cloud margins On target model in <12-18 months Broadened organic & inorganic growth platform Scaling new SMB platform ✓ Accelerated cloud revenue ✓ Attractive growing TAM Sustainable organic growth ✓ Strengthening partnerships 1. Total purchase price of approximately $896.0 million, inclusive of Zix's cash and debt, approximately 3.6x TTM (Trailing Twelve Months) Zix reported revenues (as of September 30, 2021). opentext™ Open Text ©2022 All rights reserved 82#83Our Strategic Priorities are Clear Continue to build relationships and stay close to our 1,200 potential targets Core enabler to double the company Invest in and develop our internal core capabilities We prioritize ARR opentext™ OpenText ©2022 All rights reserved 83#84opentext™ Investor Day 2022 GROW with OpenText Madhu Ranganathan, EVP and Chief Financial Officer#85Key Messages Growth opportunities are significant. SMB/C at scale offers great adjacency to enterprise Cloud infrastructure is a top priority to drive 80%+ of future investments towards cloud-based technologies GROW with opentext™ The Ultimate Cloud™ We will invest in organizational and operational infrastructures, well oiled to drive growth Technology investments with CIO office takes center stage Outlook for performance and value creation remains strong: Annual Recurring Revenue (ARR) expansion will continue to drive predictability Building a strong model of non-linear headcount growth, automation and increased productivity Unlocking value via multiple expansion & investor growth from Value to Value + GARP Discrete opportunities for Adjusted EBITDA margin (1) expansion & Free Cash Flows (1) (FCF) as of % of Total Revenues to meet long term aspirations opentext™ 1. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP- based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. Open Text ©2022 All rights reserved 85#86The OpenText Business System How we create value Our Operating Model Total Innovation Ecosystem Building Best Teams Total Growth Operational Excellence opentext™ Our Shareholder Value Creation Model Operating model profitability Disciplined strategic acquisitions Capital efficiency & returns Inclusion Sustainability Cash based returns & ROIC Open Text ©2022 All rights reserved 86#87GROW with Open Text - as you heard today Ultimate Cloud: 4 ways to consume cloud by companies of all sizes Our Top Growth Opportunities Summit programs: GROW top customers and top supply chain accounts - Deepen and expand partnerships – hyperscalers, system integrators, SMB channel at scale Migrate install-base R16 Cloud Editions Cross-sell/upsell across product portfolios and geographies Microsoft relationship Full Global 10K coverage by end of CY'23 Long-term aspiration Double international region revenue Growth by retention and expansion opentext™ Open Text ©2022 All rights reserved 87#88$ in millions $ in millions Investing For Growth Non-GAAP R&D (1,2) - Investing in Innovation. $450 FY'22 Model: 12%-14% $400 12.2% 12.2% $350 11.7% $300 11.3% 11.0% $250 12.0% $200 $412 $421 $365 $150 $317 $317 $274 $100 $50 $- FY'17 FY'18 FY'19 FY'20 FY'21 TTM Q2 FY'22 Future -80%+ of our investments will be in cloud technologies Non-GAAP Sales & Marketing (1,2) - Investing in Sales Coverage $700 FY'22 Model: 18% - 20% $600 18.4% 17.8% 18.5% $500 18.5% 17.8% $400 19.0% $300 $576 $604 $633 $520 $510 $200 $435 $100 $- FY'17 FY'18 FY'19 FY'20 FY'21 TTM Q2 FY'22 opentext™ Investing for Scale Contracts Management & Renewals Automation, Global Technical Support Automation, Re-imagined www.opentext.com, Learning Management Transformation and many more . Catalysts for organic growth • Efficiencies in renewals, billings & collections Increased self-service, driving customer satisfaction Consistent Upper Quartile A-EBITDA Margins (1) Total Revenue Growth Technology Automation and Higher Productivity A- EBITDA Non-Linear Headcount Growth 1. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. 2. Represents % of Total Revenue. Open Text ©2022 All rights reserved 88#89Proven Durable Business Model Growing ARR(1) and Upper Quartile Margin (2), (3) 80.9% FY'22 Model: 81% - 83% ARR % of Total Revenues A-EBITDA Margin (2) 54.4% 29.1% 37.2% FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 TTM Q2 FY'22 1. Annual recurring revenue (ARR) is defined as the sum of cloud services and subscriptions revenue and customer support revenue. 2. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. opentext™ 3. Refer to note 1 of our Fiscal 2019 10-K for details on the impact of recently adopted accounting standards on prior period results. FY'22 Model: 35.5% 36.5% - Open Text ©2022 All rights reserved 89#90FY'22 Target Model (3) Fiscal 2021 Actuals Revenue Type: Cloud Services and Subscriptions Customer Support Annual Recurring Revenue (ARR) License Professional Services and Other Non-GAAP Gross Margin: Cloud Services and Subscriptions Customer Support License Professional Services and Other Non-GAAP Gross Margin (1) Non-GAAP Operating Expenses: Research & Development Sales & Marketing 41.6% (3,4) Fiscal 2022 as of Feb 03 42% -44% 39.4% 37% -39% 81.0% 81% - 83% 11.4% 9% -11% 7.7% 7% -9% 66.0% 65% - 67% 90.9% 91% - 92% 96.4% 96%-98% 25.1% 23% -24% 76.1% 75% - 77% General & Admin Depreciation 12.2% 17.8% 7.3% 2.5% Total Operating Expenses A-EBITDA Margin (1) Interest and Other Related Expense (USD millions) Adjusted Tax Rate(2) Capital Expenditures (USD millions) 38.8% $151.6 14% $63.7 12% -14% 18%-20% 7% -9% 2% -4% 42% -44% 35.5% 36.5% $156 - $161 14% $80-$90 opentext™ 1. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. 2. Please refer to historical filings, including our Forms 10-K and 10-Q, regarding the company's adjusted tax rate. 3. This model is not guidance. Open Text ©2022 All rights reserved 90 4. Reflects the acquisition of Zix Corporation and Bricata during Q2 Fiscal 2022.#91From Present to FY'24 Aspirations FY'22 Target Model Non-GAAP Gross Margins(1) · . 75% - 77% FY'23 Key Operational Drivers ARR expansion A-EBITDA margin (1) opportunities: 200 to 400 bps FCF (1) as a % of Total Revenues in high 20s A-EBITDA Margin (1) 35.5% 36.5% - ARR A-EBITDA Margin (1) FCF(1) as a % of Total Revenues TTM Q2'F22 FCF(1) $688.0M (includes IRS settlement payment of $299.6M) From renewals to expansion Higher automation in contract renewals Annual price adjustments Higher automation in global technical support for increased customer engagement Non-linear headcount growth, optimized productivity Digital and automation initiatives in Cost of Sales, R&D, S&M and G&A FY'24 Aspirations A-EBITDA Margin(1) 38% - 40% FCF(1) Improved A-EBITDA margins Working capital efficiency $1.2B+ opentext™ 1. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. Open Text ©2022 All rights reserved 91#92Sustainable and Profitable Cloud Growth FY'24 Aspirations Strong enterprise cloud bookings in FY'21 and first six months of FY'22, across many products and geographies with upward trend in large deals Cloud revenue will lead Total Growth Cloud growth and scale will drive higher Non-GAAP gross margin (1) Specific opportunities for margin improvements in enterprise cloud Cloud Revenue (US$M) $1,437 Non-GAAP Cloud Gross Margin (1) opentext™ 130%+ $605 FY'15 TTM Q2 FY'22 Our Growth Strategy: FY'15 FY'22 Target Model FY'22 8%-10% 60.9% 65% - 67% 1. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures included within our current and historical filings on Forms 10-Q, 10-K and 8-K. Open Text ©2022 All rights reserved 92#93Path to 85% ARR in FY'24 FY'22 Target Model Cloud Revenues 42% -44% FY'23 Operational Drivers Customer Support Revenues 37% -39% • · ARR 81% - 83% • Cloud Growth From renewal to expansion Higher automation in contract renewals Annual price adjustments Accelerate deployments on public cloud Customer Support From renewal to expansion Upsell & cross-sell Higher automation in contract renewals Annual price adjustments Higher automation in global technical support for increased customer engagement • M&A Acquisitions will be ARR focused Target ROIC and FCF returns objectives Proven success acquiring cloud companies E.g., Carbonite & Zix our 9th and 10 th cloud acquisitions saw deployment of $2B+ over the last 2 years opentext™ FY'24 Aspirations ARR 85% Open Text ©2022 All rights reserved 93#94FY'24 Medium-Term Aspirations Organic Growth (1) 2% -4% Strategic GROW with OpenText programs ARR % of Total Revenue 85% Growth in cloud as a percent of total revenues Mid-90s customer support renewals and cloud subscriptions A-EBITDA (2) (margin) 38% - 40% Improved margin through growth, scale and automation Free Cash Flows (2) (FCF) $1.2B+ Targeting upper 20%'s FCF as percent of revenue Capital Allocation (3) M&A opentext™ 33% of FCF 33% dividends and anti-dilutive buybacks 67% for M&A and other corporate purposes M&A is additive to our model 1. Revenue % are year-over-year comparisons. 2. Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'22 investor presentation (Feb 3, 2022) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings on Forms 10-Q, 10-K and 8-K. 3. Strategy subject to change based on acquisition opportunities or other corporate purposes. Corporate purposes may include acquisitions, debt repayment, share repurchases, or other initiatives. Open Text ©2022 All rights reserved 94#95Our Strategic Priorities are Clear Best-in-class operational support to accelerate organic growth Technology investments (internal) & automation Expansion of financial envelope towards innovation Modern work: optimal workplace footprint World-class integration of acquisitions - growth synergies, ROIC, FCF returns Non-linear growth of headcount, increased productivity Optimal debt structure Strong capital deployment strategy M&A, dividends & buyback - Expand Canada, US and global investor footprints opentext™ Open Text ©2022 All rights reserved 95#96opentext™ Thank you twitter.com/opentext in linkedin.com/company/opentext opentext.com