OpenText Results Presentation Deck

FY'21 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™ Fiscal 2020 Model 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 Fiscal 2020 Results 78.2% 13.0% 37.2% 41.0% 8.8% 97.2% 61.3% 90.4% 22.7% 74.5% 11.7% 18.5% 7.3% 2.9% 36.9% $146.4 14% $73 1. Please see Appendix A "Use of Non-GAAP Financial Measures" in our Q4 FY20 Financial Business Results presentation for reconciliation of GAAP to Non-GAAP measures. 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. Fiscal 2021 Model (³) 80% - 82% 10% - 13% 41% - 43% 38% -42% 6% -9% 96% - 98% 63% -65% 89% - 91% 18% - 20% 74% -76% 12% -14% 18% - 20% 6% -8% 2% -4% 37% -38% $157 - $162 14% $85 - $95 Open Text Confidential. ©2020 All Rights Reserved. 9

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