Slide 1: Investor Presentation
Investor Presentation November 5, 2025 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: Q1 F’26 Key Quarter Financial Highlights
Q1 F’26 Key Quarter Financial Highlights In Constant Currency(3) Y/Y Y/Y Key Financials Q1 F’26 Y/Y Additional Metrics Q1 F’26 % Change Q1 F’26 % Change % Change Total Revenues $1,288M 1.5% $1,261M -0.6% Enterprise Cloud Bookings(4) $160M 20.2% Annual Recurring Revenues(1) / $1,071M / 1.8% / $1,049M
Slide 5: Cloud RPO & Cloud Bookings
Cloud RPO & Cloud Bookings RPO(1) Q1 F’26 Q1 F’25 % Y/Y Enterprise Cloud Bookings(2) Current RPO (cRPO) Cloud Services and Subscription $1.2B $1.1B 6% $160M Q1 F’26 +20% Y/Y Customer Support and Other $1.3B $1.3B Flat Total cRPO $2.5B $2.4B 2% Long Term RPO $773M F’25 Actuals +10% Y/Y Cloud Services
Slide 6: OpenText’s Product Categories
OpenText’s Product Categories Content (~40% of total revenue) is our strongest business, leading our growth in the Cloud. Total Revenue Cloud Revenue Q1 F’26 % of Total % Growth Q1 F’26 % Growth % of Cloud Revenue (US$ M) Revenue Y/Y (US$ M) Y/Y Content $523 41% 3% $136 28% 21% Business Network $161
Slide 7: Q1 F’26 Customer Wins
Content ITOM(1) Q1 F’26 Content Management Cloud for Government Core Service Management Aviator on AWS & AI Operations Management Aviator on AWS Customer Wins Challenge & Solution: The agency required a TX-RAMP certified, scalable SaaS solution with advanced search, Challenge & Solution: OpenText pr
Slide 8: F’26 Annual Outlook & Q2 Estimates
F’26 Annual Outlook & Q2 Estimates Metrics F’26 Outlook • There is no change to the F'26 Outlook 1% to 2% Total Revenue Growth • Expect strong progress on Customer Support to reduce (also growing in CC(1)) rate of decline in half (from approximately -4% in F’25 to - Cloud Revenue Growth 3% to 4% 2%
Slide 9: OpenText Strategy
OpenText Strategy DRAFT – PRIVILEGED & CONFIDENTIAL OpenText ©2025. All rights reserved. 9
Slide 10: Who is OpenText?
Who is OpenText? • Information Management products that train AI and are: • Anchored in enterprise content, data 120,000+ Enterprise customers in 180 countries and process automation • Secure and compliant to meet industry 31+ Million Public cloud users standards 9,000+ Private Cloud Deployments • O
Slide 11: 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 12: Customer Examples
Overview of OpenText’s Product Categories Customer Examples MSP Partners 1. ITOM or IT Operations Management also known as Observability and Service Management (OSM) 2. ADM or Application Delivery Management also known as DevOps (previously named Application Automation). OpenText ©2025. All rights r
Slide 13: Refocusing on our Four Core Businesses
Refocusing on our Four Core Businesses OpenText Now OpenText Envisioned $5 billion F’25 Total Revenue -10% y/y growth Portfolio ITOM $2 billion Shaping Machine-generated content F’25 Cloud Revenue (“shrink to grow”) +2% y/y growth OpenText ©2025. All rights reserved. 13
Slide 14: Content: Our Largest and Fastest Growing Core Business
Content: Our Largest and Fastest Growing Core Business Consists of approximately 40% of F’25 Total Revenues • Content Cloud offers a full suite of end-to-end enterprise content management solutions AI-Enabled Content • Titanium X capabilities include Aviator AI, SaaS, security and compliance, deep i
Slide 15: Delivering on Our Promises
Delivering on Our Promises Delivered on Q1 Expectations. On Track for F'26 Outlook Appointed permanent CFO, Steve Rai Portfolio-shaping opportunities: Announced divestiture of eDocs, and other portfolio-shaping opportunities to be reviewed Appointed new independent Board Member, George Schindler Add
Slide 16: Resilience and Growth
Resilience and Growth Total Revenue US$ 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 5-yr CAGR 10-yr CAGR 5-yr CAGR 10-yr CAGR 5-yr CAGR *Total Revenue for 2016 of $1.8 billion grew 3% y/y in CC 1. Please refer to
Slide 17: Stable and Diverse Customer Base
Stable and Diverse Customer Base Q1 F'26 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 consist
Slide 18: Business Optimization Plan and Other Savings Initiatives
Business Optimization Plan and Other Savings Initiatives On Track • >2x return on benefit vs. cost F’25 F’26 F’27+ Savings • Upside from early execution reflected in F25 Actuals and F26 Outlook • Remain committed to re-invest in $490m to Innovation and Growth through select 35% 35% 30% investments i
Slide 19: Focused Capital Deployment
Focused Capital Deployment Strong Financial Position 1 Dividend Payout • Raised dividend by 5% last quarter to $0.275 per common share • 12 consecutive years of dividend growth • Revenue Growth 2 Share Repurchases • Acquired and cancelled ~10% of shares outstanding since May 2024 • Gross Margins Exp
Slide 20: opentext.com · twitter.com/opentext · linkedin.com/company/opentext
opentext.com · twitter.com/opentext · linkedin.com/company/opentext
Slide 21: Appendix
Appendix OpenText ©2025. All rights reserved. 21
Slide 22: 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 23: F’25 Full Fiscal Year Financial Highlights
F’25 Full Fiscal Year Financial Highlights In Constant Currency(3) Y/Y Y/Y Additional Metrics F’25 Commentary Key Financials F’25 % Change Y/Y % Change F’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% $5,171M -10.4%
Slide 24: OpenText’s Product Categories
OpenText’s Product Categories Content (~40% of total revenue) is our strongest business, leading our growth in the Cloud Total Revenue Cloud Revenue % Growth % of Cloud % Growth F’25 (US$M) % of Total Revenue F’25 (US$M) Y/Y Revenue Y/Y Content $2,136 41% 4% $481 26% 17% Business Network $633 12% -1
Slide 25: Debt Profile
Debt Profile Interest Total Debt Q1 F’26 Additional Metrics Q1 F’26 Rate Senior Notes 2031 $650M 4.125% Total Fixed Debt % 66% Senior Notes 2030 $900M 4.125% Weighted Average Interest Rate 5.1% Senior Notes 2029 $850M 3.875% Annualized Interest Cost(1) $333M Senior Notes 2028 $900M 3.875% Consolidat
Slide 26: Summary of Quarterly Results with Constant Currency
Summary of Quarterly Results with Constant Currency Q1 F’26 % Change (In millions U.S. dollars, except per share data) Q1 F’26 Q1 F’25 $ Change % Change in CC* in CC* Revenues: Cloud services and subscriptions $484.5 $457.0 $27.5 6.0 % $476.3 4.2 % Customer support 586.8 595.5 (8.6) (1.5) % 572.6 (3
Slide 27: Reconciliation of Selected Non-GAAP Measures | Q1 F’26
Reconciliation of Selected Non-GAAP Measures | Q1 F’26 Three Months Ended September 30, 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 $ 172,217 $ (1,749) (1) $ 17
Slide 28: Reconciliation of Selected Non-GAAP Measures | Q1 F’26
Reconciliation of Selected Non-GAAP Measures | Q1 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 29: Reconciliation of Selected Non-GAAP Measures | Q1 F’25
Reconciliation of Selected Non-GAAP Measures | Q1 F’25 Three Months Ended September 30, 2024 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 $ 175,257 $ (2,186) (1) $ 17
Slide 30: Reconciliation of Selected Non-GAAP Measures | Q1 F’25
Reconciliation of Selected Non-GAAP Measures | Q1 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 am
Slide 31: Reconciliation of Adjusted EBITDA and Free Cash Flows
Reconciliation of Adjusted EBITDA and Free Cash Flows (In '000's U.S. dollars) Q1 F’26 Q1 F’25 GAAP-based net income, attributable to OpenText $ 146,616 $ 84,368 Add: Provision for income taxes 39,199 1,883 Interest and other related expense, net 81,114 84,282 Amortization of acquired technology-bas
Slide 32: 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