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Acquisition Philosophy: Carbonite Case Study We are: • Patient and disciplined • Growth & returns-based metrics. ● Target characteristics: • IM market leadership. ● ● ● ● Significant ARR Channel at scale. Cross-sell/upsell opportunities. M&A Framework: • In-house expertise in diligence & ● integration • Driver of future organic growth opentext TM Carbonite Case Study Acquired Strategic Rationale Revenue Synergies 12/24/19 for 2.8x revenue (1) Critical mass in Security & Protection Scaled SMB channel • Strong growth prospects Cross-sell opportunities Increased corporate ARR • Increased cloud margins On target model in <12 months Expense Synergies Improved cash conversion cycle 1. Total purchase price is approximately 2.8x TTM (Trailing Twelve Months) Carbonite GAAP revenues (as of September 30, 2019), inclusive of annualized full year reported Webroot GAAP revenues, a significant acquisition which closed in March 2019. 15 OpenText ©2021 All rights reserved 33

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