Modern Work Management

From Present to FY'24 Aspirations FY'22 Target Model Non-GAAP Gross Margins(1) · . 75% - 77% FY'23 Key Operational Drivers ARR expansion A-EBITDA margin (1) opportunities: 200 to 400 bps FCF (1) as a % of Total Revenues in high 20s A-EBITDA Margin (1) 35.5% 36.5% - ARR A-EBITDA Margin (1) FCF(1) as a % of Total Revenues TTM Q2'F22 FCF(1) $688.0M (includes IRS settlement payment of $299.6M) From renewals to expansion Higher automation in contract renewals Annual price adjustments Higher automation in global technical support for increased customer engagement Non-linear headcount growth, optimized productivity Digital and automation initiatives in Cost of Sales, R&D, S&M and G&A FY'24 Aspirations A-EBITDA Margin(1) 38% - 40% FCF(1) Improved A-EBITDA margins Working capital efficiency $1.2B+ opentext™ 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 91

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