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Reconciliation of Adjusted EBITDA and Free Cash Flows FY'13 FY'18 FY'19 (In '000's U.S. dollars) FY'20 Adjusted EBITDA 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 GAAP-based net income margin Adjusted EBITDA margin (% of total revenue) Free Cash Flows GAAP-based cash flows provided by operating activities (¹) Add: Capital expenditures (2) Free cash flows $ 148,520 opentext™ 29,690 16,982 93,610 68,745 24,496 15,575 24,034 2,473 $ 424, 125 $ 1,363,336 10.9 % 31.1 % 318,502 (23,107) $ 295,395 FY'14 $ 218,125 58,461 27,934 69,917 81,023 35,237 19,906 31,314 (3,941) $ 537,976 $ 1,624,699 13.4 % 33.1 % FY'15 234,327 $ 417,096 $ 31,638 54,620 81,002 FY'16 522,055 $ 284,477 108,239 50,906 22,047 12,823 28,047 $ 623,649 $ 671,737 (77,046) (42,268) $ 374,828 $ 445,009 6,282 76,363 74,238 $ 1,851,917 $ 1,824,228 12.7 % 15.6 % 33.7% 36.8 % 113,201 54,929 25,978 34,846 1,423 FY'17 $ 1,025,659 (776,364) 120,892 130,556 150,842 64,318 30,507 63,618 (15,743) $ 794,285 $ 2,291,057 44.8 % 34.7 % 523,663 $ 440,353 (70,009) (79,592) $ 453,654 $ 360,761 242,224 143,826 138,540 185,868 184,118 86,943 27,594 29,211 (17,973) $ 1,020,351 $ 2,815,241 8.6 % 36.2 % 708,081 285,501 154,937 136,592 183,385 189,827 97,716 26,770 35,719 (10,156) $ 1,100,291 $ 2,868,755 10.0 % 38.4 % 876,278 234,225 110,837 146,378 205,717 219,559 89,458 29,532 100,428 11,946 $ 1,148,080 $ 3,109,736 7.5 % 36.9 % $ 954,536 FY'21 310,672 339,906 151,567 218,796 216,544 85,265 51,969 1,748 (61,434) $ 1,315,033 $ 3,386,115 9.2 % 38.8 % $ 876,120 (63,837) (72,709) (63,675) (105,318) $ 602,763 $ 812,441 $ 881,827 $ 812,445 (1) Effective July 1, 2018, we adopted ASU No. 2016-18 using the retrospective method. Fiscal years 2014-2020 have been adjusted retrospectively to conform to current period presentation while fiscal years 2012-2013 are presented prior to adoption of ASU 2016-18. (2) Defined as "Additions of property & equipment" in the Consolidated Statements of Cash Flows FY'22 $ 397,090 118,752 157,880 198,607 217,105 88,241 69,556 46,873 (29,118) $ 1,264,986 $ 3,493,844 11.4 % 36.2 % $ 981,810 (93,109) $ 888,701 OpenText ©2023 All rights reserved 53

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