Mr. P. Thomas Jenkins reports

OPEN TEXT APPOINTS AYMAN ANTOUN AS CHIEF EXECUTIVE OFFICER; PROVEN GLOBAL TECHNOLOGY LEADER TO DRIVE DISCIPLINED GROWTH IN CLOUD MODERNIZATION AND ENTERPRISE AI

Open Text Corp. has appointed Ayman Antoun as chief executive officer and a member of the board, effective April 20, 2026.

Mr. Antoun brings more than three decades of global technology, operating discipline and transformation leadership to Open Text, built over a seasoned career in the information technology industry. As president of IBM Americas, he led the company's largest and most complex business across the United States, Canada and Latin America. During his tenure at IBM, he drove major advancements in cloud, infrastructure, cybersecurity, cognitive solutions and digital modernization.

"The board is very pleased to welcome Ayman to Open Text and as we look ahead to the company's future, the board believes that he is the best leader to drive shareholder value by growing revenue in our core enterprise information management for training agentic AI business," said P. Thomas Jenkins, executive chairman and chief strategy officer, Open Text. "Ayman's deep enterprise technology and software expertise and decades of leading large-scale global transformations will be a catalyst for Open Text's next phase of growth."

Mr. Antoun succeeds James McGourlay, who continues to serve as interim CEO, following a thoughtful search process. Upon the transition, Mr. McGourlay will move to a role within the executive leadership team at Open Text and P. Thomas Jenkins, currently serving as Open Text's executive chair and chief strategy officer, will return to the role of chair of the board.

"On behalf of the board, I would like to thank James for his steadfast leadership as interim CEO and for the strong results we are realizing by his commitment to our clients. I look forward to welcoming Ayman back home to Kitchener-Waterloo, where he grew up and went to school at the University of Waterloo and to work with him, our board and executive leadership team as Open Text continues to advance its strategy," added Mr. Jenkins.

Ayman Antoun, incoming chief executive officer, Open Text, said: "Open Text's core product portfolio, which is the foundation for training agentic AI, combined with its worldwide client base, offers the company a competitive advantage as trusted data is now essential to how economies, nations and businesses operate around the world. I am energized by the opportunity to lead Open Text into its next chapter and look forward to working with the board and leadership team to accelerate the company's growth strategy and deliver long-term shareholder value."

About Mr. Antoun

Mr. Antoun held numerous executive roles over 35 years at IBM, most recently serving as president of IBM Americas from 2020 to 2023 and before that as president of IBM Canada and general manager, global technology services. He was also senior vice-president of business market sales at Bell Canada from 2013 to 2015. Mr. Antoun currently serves as a board member of TD Bank and CAE. He holds a bachelor of science in electrical engineering from the University of Waterloo and is a graduate of the Harvard Business School's executive program in financial analysis, business management and strategic planning.

About Open Text Corp.

Open Text is a global leader in secure information management for artificial intelligence, helping organizations protect, govern and activate their data with confidence. Its technologies turn data into information with context to form the knowledge base for AI.

We seek Safe Harbor.