OpenText Investor Presentation Deck

Carbonite: Acquisition Closed on December 24, 2019 On December 24, 2019, OpenText completed the acquisition of Carbonite Inc, for $23.00 per share in cash opentext™ CARBONITE opentext™ Announcement About Carbonite Transaction and Purchase Price Projected Financial Impact ● ● ● ● ● ● ● ● Carbonite, a leading provider of cloud-based subscription backup, disaster recovery and endpoint security to small and medium-sized businesses, consumers, and a wide variety of partners. Carbonite has over 300,000 SMB customers, 16,000 MSPs, 7 million consumers and 1,500+ employees Purchase price of approx. $1.4 billion, inclusive of Carbonite's cash and debt 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 Funded with Open Text's existing cash on hand and revolver Carbonite Annual Recurring Revenues (ARR) of 90% Expect significant expansion of cloud revenues and cloud margins Accretive, and targeting to be on the Open Text operating model by end of Fiscal 2021 Open Text net leverage ratio at closing of approximately 2.3x, with a target to return to less than 2.0x net leverage during the 4-5 quarters post close of transaction For 2H of FY'20, we expect Carbonite revenue to be $195m to $200m, due to PPA and disruption of up to 10% for typical integration activities (1) 1. See slide titled "Carbonite Update and Revenue Impact" in this presentation. Open Text Confidential. ©2020 All Rights Reserved. 9

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