Modern Work Management

Sustainable 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

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