Mr. Steve Rai reports

OPENTEXT INCREASES SHARE REPURCHASE PROGRAM TO US$500 MILLION

Open Text Corp. has increased its previously announced fiscal 2026 share repurchase program by $200-million (U.S.), whereby it intends to purchase for cancellation up to a maximum aggregate value of $500-million (U.S.) of its common shares, pursuant to a normal course issuer bid (NCIB). The maximum number of common shares that may be acquired under the NCIB will remain unchanged at 24,906,456 common shares, which was previously approved by the Toronto Stock Exchange.

"Our share repurchase program is an important component of the Open Text capital allocation strategy," said Steve Rai, executive vice-president and chief financial officer. "We are raising our authorized limits under our current share repurchase program from $300-million (U.S.) to $500-million (U.S.), given our confidence in our robust cash flow engine."

The NCIB is in effect for the 12-month period that commenced Aug. 12, 2025, and terminates Aug. 11, 2026 (subject to earlier termination, where the maximum purchase limits under the NCIB have been reached). Common shares can be repurchased under the NCIB in open-market transactions on the TSX, the Nasdaq Global Select Market, and/or alternative trading systems in Canada and/or the United States, if eligible, subject to applicable law and stock exchange rules. Under the NCIB, the company also has an automatic share purchase plan (ASPP) with its broker to facilitate repurchases of the common shares, and purchases of common shares made under such ASPP will be included in determining the number of common shares purchased under the NCIB.

During fiscal 2026, the company has purchased for cancellation approximately $190-million (U.S.) of common shares (as of Jan. 31, 2026), of which approximately five million common shares for an aggregate value of approximately $165-million (U.S.) have been purchased and cancelled since the beginning of the NCIB.

About Open Text Corp.

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

We seek Safe Harbor.