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 (1) 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™ 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. The ranges highlighted in green have been updated. This model is not guidance. Fiscal 2019 Results 75.1% 14.9% 31.7% 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 Revised Fiscal 2020 Model (³) 76% -78% 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% 35% -36% $147 - $152 14% $72 - $77 Open Text Confidential. ©2020 All Rights Reserved. 22

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