Market Expansion and Value Creation

F'24 Target Model(¹) F'23 Reported F'24E in CC(2) F'23 Reported $528 1.2% Ent. Cloud Bookings (3) (USD$M) and Growth Y/Y% Organic CC(2) Growth (4) Y/Y% 15%+ USD$M % of Rev % of revenue F'24E in CC(2) Y/Y Growth 1% to 2% $1,700 37.9% Cloud Services and Subscriptions 30% to 32% $4.485 32.8% $655 Total Revenue (USD$B) A-EBITDA Margin (5) Free Cash Flows (USD$M) (5) (6) $5.85 to $5.95 $1,915 42.7% Customer Support 45% to 47% 6% to 8% 40% to 42% 36% to 38% $3,615 80.6% ARR(7) 76% to 78% 24% to 26% $800 to $900 ($132) FX Revenue (headwind)/tailwind (USD$M) $40 to $60 F'23 14% Adj Tax Rate (8) F'24E 14% $539 12.0% $331 7.4% $4.485 76.1% $329 $124 Net Interest Expense and Other (USD$M) Capital Expenditures (USD$M) $580 to $600 14.3% License Revenue Professional Services Total Revenue (USD$B) Non-GAAP Gross Margin (5) Research & Development(5) 15% to 17% 71% to 73% 6% to 8% $5.85 to $5.95 77% to 79% 29% to 31% 14% to 16% $140 to $160 20.2% Sales & Marketing(5) 18% to 20% 8.7% General & Admin (5) 7% to 9% Expect Micro Focus to return to organic growth in F'24 2.4% Depreciation (5) 45.7% Total Operating Expenses (5) 1% to 3% 42% to 44% opentext™ (1), (2), (3), (4), (5), (6), (7), (8) See Slide Notes © 2023 Open Text 20 20

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