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Strong Cash Flow and Balance Sheet Cash Generated for M&A TTM Q3 FY'20 (US$ M) OCF Less: Principal Less: CapEx Less: Dividends TTM Cash Generated for M&A $904 1. $10 $68 $188 $638 Documentum Acquisition Closing 2.50x Trended Consolidated Net Leverage Ratio (¹) 2.37x opentext™ Consolidated Net Leverage Ratio is calculated using bank covenant methodology. 2.61X 2.30x 2.01x 1.86x 1.72x 1.89x Q3 FY'17 Q4 FY'17 Q1 FY'18 Q2 FY'18 Q3 FY'18 Q4 FY'18 Q1 FY¹19 Q2 FY'19 1.70x 1.53x 1.48x Carbonite Acquisition. Closing 2.28x 2.25x Q3 FY'19 Q4 FY¹19 Q1 FY'20 Q2 FY'20 Q3 FY'20 Open Text Confidential. ©2020 All Rights Reserved. 24

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