OpenText Investor Presentation Deck

FY'21 Target Model Revenue Type: Cloud Services and Subscriptions Customer Support Annual Recurring Revenue (ARR) License Professional Services and Other Non-GAAP Gross Margin Cloud Services and Subscriptions Customer Support License Professional Services and Other Non-GAAP Gross Margin (1) Non-GAAP Operating Expenses: Research & Development Sales & Marketing General & Admin Depreciation A-EBITDA Margin(1) Interest and Other Related Expense (USD millions) Adjusted Tax Rate (2) Capital Expenditures (USD millions) opentext™ Fiscal 2020 Results 37.2% 41.0% 78.2% 13.0% 8.8% 61.3% 90.4% 97.2% 22.7% 74.5% 11.7% 18.5% 7.3% 2.9% 36.9% $146.4 14% $73 Fiscal 2021 Model (³) 1 Please refer to "Use of Non-GAAP Financial Measures" at the end of this presentation 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. 2. Please refer to historical filings, including our Forms 10-K and 10-Q, regarding the company's adjusted tax rate. 3. This model is not guidance. 41% -43% 38% -42% 81%83% 9% -12% 6% -9% 63% - 65% 89% - 91% 96% - 98% 20% -22% 74% -76% 12% -14% 18% - 20% 6% -8% 2% -4% 37% -38% $147 - $152 14% $85 - $95 Open Text Confidential. ©2021 All Rights Reserved. 9

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