Driving Shareholder Returns

Reconciliation of Adjusted EBITDA and Free Cash Flows (in '000s USD) GAAP-based net income attributable to OpenText Add: Provision for (recovery of) income taxes Interest and other related expense, net Amortization of acquired technology-based intangible assets Amortization of acquired customer-based intangible assets Depreciation Share-based compensation Special charges (recoveries) Other (income) expense, net Adjusted EBITDA Total revenue Adjusted EBITDA margin (% of total revenue) (in '000s USD) GAAP-based cash flows provided by operating activities Add: $ Q1 FY21 103,376 Q1 FY20 $ 74,401 42,744 23,091 39,089 32,210 58,037 40,298 54,993 49,158 22,003 20,277 11,736 6,891 13,244 5,101 (2,883) 2,785 $ 342,339 SA 254,212 $ 804,013 $ 696,888 42.6 % 36.5 % SA $ Q1 FY21 233,904 Q1 FY20 $ 137,447 $ (15,305) 218,599 (18,614) $ 118,833 (1) Defined as "Additions of property & equipment" in the Condensed Consolidated Statements of Cash Flows Capital expenditures (1) Free cash flows opentext™ OpenText Confidential. ©2020 All Rights Reserved. 42

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