OpenText Investor Presentation Deck
Free Cash Flow and Capital Allocation (1)
Dividend Program (4)(5)
Approximately 20% of TTM Free
Cash Flows
$1.35B returned to
shareholders since F'13
Share buyback to be
reconsidered upon
deleveraging (4)
FCF (3)
opentext™
FCF as %
of Total
Revenue
Open Text pre-acquisition FCF
F'23E (2) (3)
$725M
to
$750M
Low
20%'s
F'25E(2)(3)
$1.1B
Continued high
conversion from
A-EBITDA and
working capital
efficiency
Deleveraging remains top priority over 8 quarters following the close of Micro Focus Acquisition
$2.3B of expected debt repayment, with Net Leverage ratio reduced from 3.8x to 3x
1. Strategy subject to change.
2. Numbers and estimates (not guidance) and exclude impact of potential Micro Focus acquisition.
3. Please refer to "Reconciliation of selected GAAP-based measures to non-GAAP-based measures" included within our current and historical filings on forms 10Q, 10K and 8-K
4. Prior 33% capital allocation program included -20% of FCF for Dividend Program and -13% of FCF for share repurchases under the Normal Course Issuer Bid (NCIB) program. The NCIB expires November 11, 2022.
5. Declaration of dividend subject to board discretion
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