OpenText Investor Presentation Deck

FY'22 Long-Term Aspirations & Roadmap 38% to 40% Adj. EBITDA We will remain disciplined, while we invest $538 FY'14 A-EBITDA Margin (%) & (US$ M) 34.7% (ECD²) 33.1% 33.7% $624 FY'15 opentext 36.8% $672 FY'16 $794 FY'17 36.2% $1020 FY'18 38.4% $1100 FY'19 A-EBITDA Margin Aspiration Target of 38% to 40% FY'20 40.0% FY'21 FY'22 A-EBITDA margin aspiration of 38% to 40% is an ideal zone for Open Text We are ranked in the upper quartile performance among peers(1) Above 40% A-EBITDA, we plan to reinvest for future growth: ● Innovation, products, engineering capacity Sales capacity & coverage, investment in partners, and marketing 1 Source: Bloomberg. Based on Bloomberg's calculation of EBITDA Margin (January 14, 2020). Peer group consists of selected universe of 160 peer companies 2. OTEX integrated the acquisition of Dell-EMC Enterprise Content Division (ECD) at low-teens EBITDA in FY'17 Open Text Confidential. ©2020 All Rights Reserved. 29

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