Market Expansion and Value Creation

Track Record of Strong Free Cash Flows Expected Acceleration in Free Cash Flows In $ Millions (1) Estimated Free Cash Flows 11% F'11 to F'23 CAGR Cloud Acquisition $603 $446 $454 $375 $361 $295 $241 $187 Investment integration $800 to $882 $889 $900 $812 $812 $655 $1.5B+ Aspiration F'11A F'12A F'13A F'14A F'15A F'16A F'17A F'18A F'19A F'20A (2) F'21A F'22A F'23A F'24E F26E (2) opentext™ 20%+ FCF as % of Revenue (1), (2) See Slide Notes FCF Growth Target upper quartile FCF Increase cloud growth rates Bring Micro Focus onto OpenText's Operating Model Lower Interest Costs © 2023 Open Text 10

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