OpenText Results Presentation Deck

Return on Invested Capital (ROIC) ROIC (OTEX Calculation) ● Adj. Operating Income (after-tax) (Debt + Equity - Cash Deferred Tax) - We measure our ROIC annually. It is defined as our non-GAAP net operating profit after tax, divided by our average invested capital Non-GAAP net operating profit after tax is our non-GAAP based income from operations (as previously defined), net of our non-GAAP tax rate Invested capital is defined as our total debt, plus total equity, less the sum of total cash and total net deferred tax assets (liabilities), as they each appear on our Consolidated Balance Sheets ROIC (in US$M) Non-GAAP based income from operations (1) Adjusted Tax Rate (%) (²) Non-GAAP based operating income after non- GAAP tax Total Debt (incl. Current Portion of LT Debt) + Total Shareholders' Equity - Cash & Cash Equivalents Net Deferred Tax Assets (Liabilities) = Invested Capital Average Invested Capital (Avg. Current Yr. & Prior Yr.) opentext™ Refer to note 1 of our Fiscal 2019 10-K for details on the impact of recently adopted accounting standards on prior period results. 1. 2. Please refer to historical filings, including our Forms 10-K and 10-Q, regarding the company's adjusted tax rate. FY'18 FY'19 FY'20(1) 17.5% 18.7% 17.6% $933 14% $803 $2,621 $3,717 $683 $1,043 $4,612 $4,576 $1,003 14% $862 $2,615 $3,885 $941 $948 $4,611 $4,612 $1,059 14% $911 $4,194 $4,007 $1,693 $763 $5,745 $5,178 Open Text Confidential. ©2020 All Rights Reserved. 18

View entire presentation