OpenText Investor Presentation Deck

FY'20 Target Model Revenue Type: Annual Recurring Revenue (ARR) License Cloud Services and Subscriptions Customer Support Professional Services and Other Non-GAAP Gross Margin License Cloud Services and Subscriptions Customer Support Professional Services and Other Non-GAAP Gross Margin Non-GAAP Operating Expenses: Research & Development Sales & Marketing General & Admin Depreciation A-EBITDA Margin(1) Interest and Other Related Expense USD million Adjusted Tax Rate(2) Capital Expenditures opentext™ Fiscal 2019 Results 75.1% 14.9% 31.6% 43.5% 9.9% 96.6% 57.8% 90.1% 21.8% 74.1% 11.0% 17.8% 6.9% 3.4% 38.4% $136.6 14% $64 1. Please see reconciliation of GAAP to Non-GAAP measures in our historical filings on Form 10K. 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. Revised to reflect the acquisition of Carbonite. Previous FY'20 Model 74% - 76% 13% -17% 31% -35% 40% -44% 8% -12% 96% - 98% 57% -59% 89% - 91% 18% - 20% 73% -75% 11% - 13% 17% -19% 6% - 8% 2% -4% 38% - 39% $140 - $145 14% $88 - $98 Revised FY'20 Model (³) 75% - 77% 13% -17% 34% - 38% 38% -42% 7% -11% 96% - 98% 58% - 60% 89% - 91% 18% - 20% 73% -75% 11% - 13% 18% - 20% 6% -8% 2% -4% 36% -37% $147 - $152 14% $88 - $98 Open Text Confidential. ©2020 All Rights Reserved. 26

View entire presentation