Mr. Greg Secord reports

OPENTEXT ANNOUNCES PRICING OF SENIOR SECURED NOTES OFFERING TO REDEEM ITS OUTSTANDING 2027 NOTES AND FUND TENDER OFFER FOR A PORTION OF ITS OUTSTANDING 2028 NOTES

Open Text Corp. has priced an offering of $500-million principal amount of 6.700 per cent senior secured notes due 2031 and $500-million principal amount of 7.150 per cent senior secured notes due 2033.

The notes will be guaranteed on a senior secured basis by Open Text's existing wholly owned subsidiaries that are guarantors or co-obligors under Open Text's senior secured credit facilities, term loan credit agreement and its 6.900 per cent senior secured notes due 2027. The notes and related guarantees will be secured on the same basis as the company's senior secured credit facilities, term loan credit agreement and 2027 notes. The note offering is expected to close on Oct. 1, 2026, subject to customary closing conditions.

Open Text intends to use the net proceeds from the note offering, together with cash on hand, to finance, in the aggregate: (i) the redemption in full of the outstanding $1.0-billion principal amount of its 2027 notes, including the payment of the applicable redemption premium, accrued and unpaid interest, and related costs and expenses; and (ii) the consideration for any of its outstanding 3.875 per cent senior notes due 2028 accepted for purchase in the tender offer by the company for such 2028 notes, up to an aggregate principal amount of the 2028 notes that will not exceed $450-million (subject to increase or decrease by the company), plus accrued and unpaid interest, and related costs and expenses.

About Open Text Corp.

Open Text is a global leader in data management for enterprise 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 enterprise AI.

We seek Safe Harbor.