Mr. Greg Secord reports

OPENTEXT ANNOUNCES AMENDMENTS TO ITS PREVIOUSLY ANNOUNCED TENDER OFFER FOR A PORTION OF ITS OUTSTANDING 3.875% SENIOR NOTES DUE 2028

Open Text Corp. has amended certain terms of its previously announced cash tender offer for its outstanding 3.875 per cent senior notes due 2028. The tender offer is made on the terms and subject to the conditions set forth in the related offer to purchase dated Sept. 23, 2026, as modified by this press release. As previously announced, the company intends to use cash on hand in addition to the proceeds from the previously announced and priced concurrent senior secured notes offering to finance the consideration for a portion of its outstanding bonds accepted for purchase in the tender offer.

Under the amended terms, the company has (i) reduced the aggregate maximum tender amount for its outstanding bonds from $450-million to $300-million aggregate principal amount and (ii) extended (x) the withdrawal deadline to 5 p.m. New York time on Sept. 30, 2026 (originally Sept. 29, 2026), (y) the price determination date to 3 p.m. New York time on Sept. 30, 2026 (originally Sept. 29, 2026), and (z) the expiration date to 5 p.m. New York time on Sept. 30, 2026 (originally Sept. 29, 2026). The settlement date for bonds validly tendered at or prior to the expiration date and accepted for purchase is expected to be Oct. 2, 2026, the second business day after the expiration date (T plus 2). Except as set forth herein, all other terms and conditions of the tender offer, including the financing condition, as described in the offer to purchase remain unchanged.

The company has retained RBC Capital Markets LLC and Citigroup Global Markets Inc. to serve as dealer managers for the tender offer. Global Bondholder Services Corp. has been retained to serve as the tender and information agent for the tender offer. Questions regarding the tender offer may be directed to RBC Capital Markets, attention: Liability Management Team, phone: 212-618-7843, toll-free: 877-381-2099, e-mail: liability.management@rbccm.com, and Citigroup Global Markets, attention: Liability Management Group, toll-free: 800-558-3745, collect: 212-723-6106, e-mail: ny.liabilitymanagement@citi.com. Requests for the offer to purchase may be directed to Global Bondholder Services at 212-430-3774 (for banks and brokers only) and 855-654-2014 (for all others toll-free), and by e-mail at contact@gbsc-usa.com.

This press release shall not constitute an offer to purchase or a solicitation of an offer to purchase the bonds. The company is making the tender offer only by, and pursuant to, the terms of the offer to purchase, as modified by this press release. None of the company, the dealer managers, or the tender and information agent makes any recommendation as to whether holders of the bonds should tender or refrain from tendering their bonds. Holders of the bonds must consult their own investment and tax advisers and make their own decisions as to whether to tender their bonds and, if so, the principal amount of the bonds to tender. The tender offer is not being made to holders of the bonds in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the tender offer to be made by a licensed broker or dealer, the tender offer will be deemed to be made on behalf of the company by the dealer managers, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

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.

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