Slide 1: Investor Presentation
Investor Presentation May 7, 2026 NASDAQ/TSX: OTEX
Slide 2: Safe Harbor and IP Statement
Safe Harbor and IP Statement This presentation contains forward-looking statements or information (forward-looking statements) within the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the Exchange Act), Section 2
Slide 3: Financial Results & Outlook
Financial Results & Outlook DRAFT – PRIVILEGED & CONFIDENTIAL OpenText ©2025. All rights reserved. 3
Slide 4: Q3 FY'26 Key Quarter Financial Highlights
Q3 FY’26 Key Quarter Financial Highlights In Constant Currency(3) Y/Y Y/Y Key Financials Q3 FY’26 Additional Metrics Q3 FY’26 % Change Y/Y % Change Q3 FY’26 % Change Total Revenues $1,283M 2.2% $1,228M (2.1)% Enterprise Cloud Bookings(4) $196M 29.6% Annual Recurring Revenues(1) / $1,058M / 2.7% / $1
Slide 5: Cloud RPO & Cloud Bookings
Cloud RPO & Cloud Bookings RPO(1) Q3 FY’26 Q3 FY’25 % Y/Y* Enterprise Cloud Bookings(2) Current RPO (cRPO) Cloud Services and Subscription $1.3B $1.2B 5% $196M Q3 FY’26 +30% Y/Y Customer Support and Other $1.4B $1.4B 1% Total cRPO $2.6B $2.6B 3% Long Term RPO $773M FY’25 Actuals +10% Y/Y Cloud Servi
Slide 6: Total Revenues by Product Category
Total Revenues by Product Category • Revenues for our Core Business continue to grow at approximately twice the pace of Total Revenues • Content continues to demonstrate strength, comprises 40%+ of total revenues Q3 FY'26 FY'26 YTD US$M % of Total Revenue % Growth Y/Y US$M % of Total Revenue % Growt
Slide 7: Cloud Revenues by Product Category
Cloud Revenues by Product Category • Revenues for our Core Business continue to grow at approximately twice the pace of Total Revenues • Content continues to demonstrate strength, leading Cloud growth Q3 FY'26 FY'26 YTD % of Total US$M % Growth Y/Y US$M % of Total Revenue % Growth Y/Y Revenue Conten
Slide 8: Q3 FY'26 Global Client Wins
Q3 FY’26 Global Client Wins Content Cybersecurity Core Content Management Express BrightCloud Threat Intelligence Challenge & Solution: HARGASSNER aimed to establish Challenge & Solution: HPE Aruba Networking requires a single source of truth for enterprise content across all best-in-class threat i
Slide 9: FY'26 Annual Outlook
FY’26 Annual Outlook Metrics FY'26 • Total Revenue growth of 1% to 2% when adjusted by ~$30M Total Revenue Growth 1% to 2% to reflect recent divestitures • Content Cloud revenue growth leading the business Cloud Revenue Growth 4% to 5% • Core business continues to grow Enterprise Cloud Bookings(1) G
Slide 10: OpenText Strategy
OpenText Strategy DRAFT – PRIVILEGED & CONFIDENTIAL OpenText ©2025. All rights reserved. 10
Slide 11: Who is OpenText?
Who is OpenText? • Information Management products that train AI and are: • Anchored in enterprise data and 120,000+ Enterprise clients in 180 countries process automation 31+ Million Public cloud users • Secure and compliant to meet industry standards 9,000+ Private cloud deployments • One of the l
Slide 12: Why Do Enterprises Need To Look At Their Own Data?
Why Do Enterprises Need To Look At Their Own Data? ~90% of the world’s information expected to live inside organizations(1) (emails, documents, records, workflows, transactions, communications) Public LLMs are trained on open internet >> not enough for enterprise-grade, regulated insights Enterprise
Slide 13: Training Agentic AI
Training Agentic AI For an organization that is training agentic AI, a subset y w raps around of very context specific data is required. urit ev er ec y s The data is usually broken down into three types of r th be ing data: Content Cy Human-generated data • Human generated (Content Server) • Machin
Slide 14: We lead in secure Data for Enterprise AI
Cybersecurity Business Four Core Data Content ITOM Network Products Human-generated Machine-generated data data Transaction- We lead generated data in secure Data for Enterprise AI Integration – Aviator Enterprise AI Client Choice On Private Cloud in Sovereign Public Cloud Private Cloud in Premise D
Slide 15: Enterprise Data Training Agentic AI
Enterprise Data Training Agentic AI Business Outcomes Enterprise data trains • Enterprise-ready AI Applications adoption agents the • Faster time-to-value same as applications • Trusted AI responses Training Agentic AI OpenText ©2026. All rights reserved. 15
Slide 16: Refocusing on our Four Core Businesses
Refocusing on our Four Core Businesses OpenText Now OpenText Core Businesses $5 billion FY’25 Total Revenue -10% Y/Y growth $2 billion FY’25 Cloud Revenue ITOM +2% Y/Y growth Machine-generated Portfolio content 7 Product Categories Shaping Core: Content, Business Network, ITOM, (“optimize to grow”)
Slide 17: Content Management
Content Management $2.1B Revenue Winning Advantages FY’25 • Trusted Information Governance - wide installed base permissions-based, on-premise and cloud • Strategic partnership with SAP - structured & unstructured data to win in archiving, HR, and vendor invoice management Top Competitors • Industry
Slide 18: Business Network
Business Network Winning Advantages $633M Revenue FY’25 • Deep and mature clients installed base - represents many of the largest global supply chains, high dependency on B2B integrations for daily commerce with suppliers Top Competitors • Global e-Invoicing solution - covers 50+ countries to provid
Slide 19: IT Operations Management (ITOM)
IT Operations Management (ITOM) Winning Advantages $453M Revenue FY’25 • AI-Powered Service Management (ESM) - modules for IT, HR, and Client Support with AI-led service management with data management • Universal Discovery - industry leading observability for IT, IoT, 3rd party discovery; combines
Slide 20: Cybersecurity Enterprise
Cybersecurity Enterprise $692M Revenue Winning Advantages FY’25 • Best-in-Class Solutions - industry leading capabilities in application security, threat detection and response, data security and encryption • Open Architecture - interoperability with a wide array of security tools used in the NOC an
Slide 21: Ayman Antoun Joins as CEO
Ayman Antoun Joins as CEO • Appointed as OpenText's Chief Executive Officer and a • member of the Board, effective April 20, 2026. Brings over three decades of global technology, operating “ OpenText's core product portfolio, which is the foundation for training agentic AI, combined with its worldwi
Slide 22: Delivered on Our Promises
Delivered on Our Promises Appointed new CEO, Ayman Antoun Delivered on Q3 Expectations. On track for FY'26 Outlook Appointed new CFO, Steve Rai Portfolio-shaping opportunities: Divested eDOCS, announced Vertica divestiture, and remain committed to divesting non-core portfolio-shaping opportunities R
Slide 23: Resilience and Growth
Resilience and Growth Total Revenue US$ Billion A-EBITDA(1) US$ Billion A-EPS(1) US$ AMC AMC AMC divestiture divestiture divestiture +11% +11% +11% +9% +8% +6% 10-yr CAGR(2) 5-yr CAGR(2) 10-yr CAGR(2) 5-yr CAGR(2) 10-yr CAGR(2) 5-yr CAGR(2) *Total Revenue for 2016 of $1.8 billion grew 3% y/y in CC 1
Slide 24: Disciplined Capital Deployment
Disciplined Capital Deployment Strong Financial Position Debt Reduction • Pay down debt with net sales proceeds from divestitures • Revenue Growth Dividend Payout • Quarterly dividend payout of $0.275 per share • Gross Margins Expansion • 12 consecutive years of dividend growth(2) Capital • A-EBITDA
Slide 25: opentext.com · twitter.com/opentext · linkedin.com/company/opentext
opentext.com · twitter.com/opentext · linkedin.com/company/opentext
Slide 26: Appendix
Appendix OpenText ©2025. All rights reserved. 26
Slide 27: Latest eBook: Framework for Enterprise-Scale Agentic AI
Latest eBook: Framework for Enterprise-Scale Agentic AI • Serves as a practical blueprint for organizations transitioning from isolated AI pilots to a scalable agentic operating model. Download Here • Explores how enterprises can design and govern intelligent workflows by orchestrating autonomous ag
Slide 28: Appendix A: Use of Non-GAAP Financial Measures
Appendix A Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with U.S. GAAP, the Company provides certain financial measures that are not in accordance with U.S. GAAP (Non-GAAP).These Non-GAAP financial measures have certain limitations in that they do not h
Slide 29: FY'25 Full Fiscal Year Financial Highlights
FY’25 Full Fiscal Year Financial Highlights In Constant Currency(3) Y/Y Y/Y Additional Metrics FY’25 Commentary Key Financials FY’25 % Change Y/Y % Change FY’25 Ex-AMC % Change Up 10% y/y, led by gains in Enterprise Cloud Bookings(4) $773M Content Cloud Total Revenues $5,168M -10.4% -3.0% $5,171M -1
Slide 30: OpenText's Product Categories - Historical
OpenText’s Product Categories - Historical Total Revenue Business Unit FY’25 FY'25 % of FY'25 Q1 FY’26 Q1 FY’26 % of Q1 FY'26 Q2 FY’26 Q2 FY’26 % of Q2 FY'26 (US$M) Total Revenue % Growth Y/Y (US$M) Total Revenue % Growth Y/Y (US$M) Total Revenue % Growth Y/Y Business Unit $2,136 Content 41% 4% $523
Slide 31: OpenText's Product Categories - Historical
OpenText’s Product Categories - Historical Cloud Revenue Business Unit FY’25 FY'25 % of FY'25 Q1 FY’26 Q1 FY’26 % of Q1 FY'26 Q2 FY’26 Q2 FY’26 % of Q2 FY'26 (US$M) Total Revenue % Growth Y/Y (US$M) Total Revenue % Growth Y/Y (US$M) Total Revenue % Growth Y/Y Content $481 26% 17% $136 28% 21% $138 2
Slide 32: Cloud Driving the Business Model – Illustrative Migration Path
Cloud Driving the Business Model – Illustrative Migration Path 1. Focus on the Core Product Categories 2. Cloud to drive Core ARR(1) and RPO Growth 3. Grow A-EBITDA(2) Dollars per Share Total Revenue Over Time ARR & Total RPO Continued cloud expansion as it exceeds 50% total revenue RPO expansion as
Slide 33: Stable and Globally Diverse Client Base
Stable and Globally Diverse Client Base FY'25 Total Revenue • Deeply integrated “sticky” products with an average deployment life span of a decade or more • Strong competitive advantage that protects our position in the market and makes it difficult for competitors to enter or displace * Services co
Slide 34: Debt Profile
Debt Profile Interest Total Debt Q3 FY’26 Additional Metrics Q3 FY’26 Rate Senior Notes 2031 $650M 4.125% Total Fixed Debt % 68% Senior Notes 2030 $900M 4.125% Weighted Average Interest Rate 4.9% Senior Notes 2029 $850M 3.875% Annualized Interest Cost(1) $309M Senior Notes 2028 $900M 3.875% Consolid
Slide 35: Business Optimization Plan and Other Savings Initiatives
Business Optimization Plan and Other Savings Initiatives On Track • >2x return on benefit vs. cost FY’25 FY’26 FY’27+ Savings • Upside from early execution reflected in FY'25 Actuals and FY'26 Outlook • Remain committed to re-invest in $490M to innovation and growth through select 35% 35% 30% $550M
Slide 36: Summary of Quarterly Results with Constant Currency
Summary of Quarterly Results with Constant Currency Q3 F’26 % Change (In millions U.S. dollars, except per share data) Q3 F’26 Q3 F’25 $ Change % Change in CC* in CC* Revenues: Cloud services and subscriptions $492.9 $462.6 $30.3 6.6 % $477.2 3.2 % Customer support 564.8 567.4 (2.5) (0.4) % 538.5 (5
Slide 37: Summary of Year to Date Results with Constant Currency
Summary of Year to Date Results with Constant Currency % Change (In millions U.S. dollars, except per share data) F’26 YTD F’25 YTD $ Change % Change F’26 in CC* in CC* Revenues: Cloud services and subscriptions $1,455.5 $1,381.9 $73.6 5.3 % $1,424.5 3.1 % Customer support 1,733.6 1,753.5 (19.9) (1.
Slide 38: Reconciliation of Selected Non-GAAP Measures | Q3 F'26
Reconciliation of Selected Non-GAAP Measures | Q3 F’26 Three Months Ended March 31, 2026 GAAP % of Total Non-GAAP % of (In ‘000's U.S. dollars, except per share data) GAAP Revenue Adjustments FN Non-GAAP Total Revenue COST OF REVENUES Cloud services and subscriptions $ 177,360 $ (1,473) (1) $ 175,88
Slide 39: Reconciliation of Selected Non-GAAP Measures | Q3 F'26
Reconciliation of Selected Non-GAAP Measures | Q3 F’26 FOOTNOTES 1 Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. Adjustment relates to the exclusion of am
Slide 40: Reconciliation of Selected Non-GAAP Measures | F'26
Reconciliation of Selected Non-GAAP Measures | F’26 Nine months ended March 31, 2026 GAAP % of Total Non-GAAP % of (In ‘000's U.S. dollars, except per share data) GAAP Revenue Adjustments FN Non-GAAP Total Revenue COST OF REVENUES Cloud services and subscriptions $ 519,829 $ (4,819) (1) $ 515,010 Cu
Slide 41: Reconciliation of Selected Non-GAAP Measures | F'26
Reconciliation of Selected Non-GAAP Measures | F’26 FOOTNOTES 1 Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. Adjustment relates to the exclusion of amort
Slide 42: Reconciliation of Selected Non-GAAP Measures | Q3 F'25
Reconciliation of Selected Non-GAAP Measures | Q3 F’25 Three Months Ended March 31, 2025 GAAP % of Total Non-GAAP % of (In ‘000's U.S. dollars, except per share data) GAAP Revenue Adjustments FN Non-GAAP Total Revenue COST OF REVENUES Cloud services and subscriptions $ 174,186 $ (1,846) (1) $ 172,34
Slide 43: Reconciliation of Selected Non-GAAP Measures | Q3 F'25
Reconciliation of Selected Non-GAAP Measures | Q3 F’25 FOOTNOTES 1 Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. 2 Adjustment relates to the exclusion of
Slide 44: Reconciliation of Selected Non-GAAP Measures | F'25
Reconciliation of Selected Non-GAAP Measures | F’25 Nine Months Ended March 31, 2025 GAAP % of Total Non-GAAP % of (In ‘000's U.S. dollars, except per share data) GAAP Revenue Adjustments FN Non-GAAP Total Revenue COST OF REVENUES Cloud services and subscriptions $ 521,731 $ (6,828) (1) $ 514,903 Cu
Slide 45: Reconciliation of Selected Non-GAAP Measures | F'25
Reconciliation of Selected Non-GAAP Measures | F’25 FOOTNOTES 1 Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. Adjustment relates to the exclusion of amort
Slide 46: Reconciliation of Adjusted EBITDA and Free Cash Flows
Reconciliation of Adjusted EBITDA and Free Cash Flows (In '000's U.S. dollars) Q3 F’26 Q3 F’25 GAAP-based net income, attributable to OpenText $ 172,652 $ 92,805 Add: Provision for income taxes 34,282 10,842 Interest and other related expense, net 74,409 78,816 Amortization of acquired technology-ba
Slide 47: Reconciliation of Adjusted EBITDA and Free Cash Flows
Reconciliation of Adjusted EBITDA and Free Cash Flows (In '000's U.S. dollars) F’17 F’18 F’19 F’20 F’21 F’22 F’23 F’24 F’25 Adjusted EBITDA GAAP-based net income, attributable to OpenText $1,025,659 $ 242,224 $ 285,501 $ 234,225 $ 310,672 $ 397,090 $ 150,379 $ 465,090 $ 435,868 Add: Provision for (r