What changed in this filing

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Item 1. Business

2022-08-05 compared with 2021-08-05 · 175 added, 164 removed, 223 unchanged (60% of the section changed)

Incorporated in 1991, OpenText has grown to be a leader in providing Information Management software solutions.

We offer a comprehensive line of Information Management products and services that power digital businesses of all sizes and enable them to grow faster, obtain lower operational costs and reduce information governance and security risks by improving business insight, impact and process speed.

Our products are offered as software as a service (SaaS), through off-cloud solutions, on the OpenText Cloud, on third-party public clouds or as a combination.

Our customers operate in hybrid, off-cloud and cloud environments and we are ready to support the delivery method the customer prefers.

In providing choice and flexibility, we strive to maximize the lifetime value of the relationship with our customers and support their digital transformation journey.

Incorporated in 1991, OpenText has grown to be a leader in Information Management offering a comprehensive line of Information Management products and services that power and protect businesses of all sizes.

OpenText’s Information Management solutions manage the creation, capture, use, analysis and lifecycle of structured and unstructured data.

Our Information Management solutions are designed to help organizations extract value from their information, secure that information and meet the growing list of privacy and compliance requirements.

OpenText helps customers improve efficiencies, redefine business models and transform industries.

Our products are available in cloud, off-cloud, private cloud, public cloud and application programming interface (API) cloud, or any combination thereof, and we are ready to support the customer’s preferred delivery channel.

In providing choice and flexibility, we strive to maximize the lifetime value of the relationship with our customers and support their information-led transformation journey.

Business Overview and Strategy

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We are an Information Management company that provides software and services that empower digital businesses of all sizes to become more intelligent, secure and connected.

Our innovations maximize the strategic benefits of data and content for our customers, strengthening their productivity, growth and competitive advantage.

The comprehensive OpenText Information Management platform and services provide secure and scalable solutions for global companies, SMB, governments and consumers around the world.

We also accelerate information modernization with intelligent tools and services for moving off paper, automating classification and building clean data lakes for Artificial Intelligence (AI), analytics and automation.

Our innovations maximize the strategic benefits of data and content for our customers, strengthening their productivity, growth, profitability, compliance and competitive information advantage.

The comprehensive OpenText Information Management platform and services provide secure and scalable solutions for global enterprises, SMBs, governments and consumers around the world.

We also accelerate information-led digital transformations with intelligent tools and services for moving off paper, automating classification and building clean data lakes for artificial intelligence (AI), analytics and automation.

OpenText is fundamentally integrated into the parts of our customers' businesses that matter, so they can securely manage the complexity of information flow end-to-end.

Through automation and AI, we connect, synthesize and deliver information where it is needed to drive new efficiencies, experiences and insights.

We make information more valuable by connecting it to digital business processes, enriching it with capture and analytics, protecting and securing it throughout its entire lifecycle, and leveraging it to create engaging digital experiences.

Our solutions also connect large digital supply chains in manufacturing, retail and financial services.

Our solutions also enable organizations and consumers to secure their information so that they can collaborate with confidence, stay ahead of the regulatory technology curve, identify threats on any endpoint or across their networks, enable privacy, leverage eDiscovery and digital forensics to defensibly investigate and collect evidence, and ensure business continuity in the event of a security incident.

Through automation and AI, we connect, synthesize and deliver information when and where needed to drive new efficiencies, experiences and insights.

We make information more valuable by connecting it to digital business processes, enriching it with insights, protecting and securing it throughout its entire lifecycle and leveraging it to create engaging digital experiences.

Our solutions connect large digital supply chains in many industries including manufacturing, retail and financial services.

With the growing compliance standards for data management, security, e-invoicing, environmental, sustainability and inclusion factors, OpenText empowers customers with foresight and trust.

Our solutions also enable organizations and consumers to secure their information so that they can collaborate with confidence, stay ahead of the regulatory technology curve and identify threats on any endpoint or across their networks.

With a multi-layered security approach, we have a wide range of OpenText Security Solutions that power and protect at the data management layer, at the infrastructure and application layers, and at the edge, offering insights and threat intelligence across it all.

Our Products and Services

We have a complete and integrated portfolio of Information Management solutions delivered at scale in the OpenText Cloud, helping organizations master modern work, power modern experiences and optimize their digital supply chains.

To do this, we bring together our Content Cloud, Business Network Cloud, Experience Cloud, Security and Protection Cloud and Developer Cloud with advanced technologies such as AI, analytics and automation.

Our solutions improve business insight, employee productivity, customer experiences, asset utilization, collaboration, supply chain efficiency and risk management.

Our software capabilities connect information across people, systems and Internet of Things (IoT) devices and securely manage, store, access and mine it with analytics for actionable and relevant insights.

We have a complete and integrated portfolio of Information Management solutions delivered at scale to meet the demands and needs of a global market.

With the rise of operational and experience data as a force accelerating the need for information management, OpenText helps businesses master modern work with our Content Cloud, digitize supply chains with the Business Network Cloud, create communication-centric experiences with the Experience Cloud and build a resilient and safer world with the Security Cloud.

In addition to our four business clouds, we have the Developer Cloud to help unleash developer creativity.

Our solutions are delivered on the OpenText Cloud Platform, which supports customers in four different ways to use our services from private cloud to public cloud to off-cloud to API.

Our architectural approach is one that puts at the forefront the ability for customers to have the flexibility and customization they need in a hybrid multi-cloud world.

Our innovation roadmap is focused on investing a significant amount of our research and development (R&D) in cloud capabilities.

This includes maturing our public cloud and API offerings, driving deep integrations through co-innovations with partners and investing to meet new compliance standards.

Security is fundamentally built into all OpenText Information Management software.

Our platform offers multi-level, multi-role and multi-context security.

Information is secured at the database level, by user-enrolled security, context rights and time-based security.

We also provide encryption at rest for document-level security.

With embedded AI and analytics, our solutions improve business insight, employee productivity, customer experiences, asset utilization, collaboration, supply chain efficiency and risk management.

Our software capabilities connect information across people, systems and devices to automate end-to-end processes and provide customers with increased business visibility and foresight.

Below is a listing of our Information Management solutions.

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Our Content Cloud empowers customers to master modern work through robust content management, improved integrations and intelligent automation.

It connects content to the digital business to eliminate silos and provide convenient, secure and compliant remote access to both structured and unstructured data - boosting productivity and reducing risk.

Our solutions manage the lifecycle, distribution and use of information across the organization, from capture through to archiving and disposition.

Our Content Services solutions range from content collaboration and intelligent capture to records management and archiving, and are available off-cloud, on a cloud provider of the customer’s choice, as a subscription in the OpenText Cloud, in a hybrid environment or as a managed service.

Our Content Services solutions enable customers to capture documents and data from paper, electronic files, and other sources and transform it into digital content delivered directly into enterprise content

management solutions and business processes.

It connects content to the digital business eliminating silos and providing convenient, secure and compliant remote access to both structured and unstructured data - boosting productivity and reducing risk.

Our solutions manage the lifecycle, distribution, use and analysis of information across the organization, from capture through to archiving and disposition.

Our Content Services solutions range from content collaboration and intelligent capture to records management, collaboration, e-signatures and archiving, and are available off-cloud, on a cloud provider of the customer’s choice, as a subscription in the OpenText Cloud, in a hybrid environment or as a managed service.

Our Content Services solutions enable customers to capture data from paper, electronic files and other sources and transform it into digital content delivered directly into content management solutions and business processes.

Our customers can protect critical historical information within a secure, centralized archiving solution.

Our Content Services integrate with the applications that manage critical business processes, such as SAP® S/4HANA, SAP® SuccessFactors®, Salesforce®, Microsoft® Office 365® and other enterprise software, establishing the foundation for intelligent business process and content workflow automation.

By connecting unstructured content with structured data workflows, our Content Services allow users to have the content they need, when they need it, reducing errors and saving valuable time.

Additionally, OpenText Content Services adhere to the Content Management Interoperability Services (CMIS) standard and support a broad range of operating systems, databases, application servers, and enterprise applications.

OpenText Content Services adhere to the Content Management Interoperability Services (CMIS) standard and support a broad range of operating systems, databases, application servers and applications.

Our Content Services integrate with the applications that manage critical business processes, such as SAP® S/4HANA, SAP® SuccessFactors®, Salesforce®, Microsoft® Office 365® and other software systems and applications, establishing the foundation for intelligent business process and content workflow automation.

By connecting unstructured content with structured data workflows, our Content Services allow users to have the content they need, when they need it, reducing errors, driving greater business insight and increasing efficiency.

Our AI and analytics capabilities within Content Services leverages structured or unstructured data to help organizations improve decision-making, gain operational efficiencies and increase visibility through interactive dashboards, reports and data visualizations.

It leverages a comprehensive set of data analytics software - such as text mining, natural language processing, interactive visualizations and machine learning - to identify patterns, relationships, risks and trends that are used for predictive process automation and accelerated decision-making.

Our solutions support composite AI for improved accuracy, and we help customers turn repositories of information into clean and integrated “data lakes” that can be mined by AI to extract useful knowledge and insight for our customers.

Our automation solutions enable organizations to transform into intelligent, secure and connected digital, data-driven businesses.

We help customers re-engineer processes and quickly adapt to complex needs to deliver seamless customer and employee experiences.

We speed up the development of case- and process-driven applications with low-code, drag-and-drop components, reusable building blocks and pre-built accelerators to build and deploy solutions more easily.

Moreover, our professional services team works with customers to simplify complex interactions among people, content, transactions and workflows across multiple systems of record to support a diverse range of use cases.

Business Network Cloud

Our Business Network Cloud provides a foundation for digital supply chains and secure e-commerce.

Our Business Network manages all data within the organization and outside the firewall, connecting people, systems and IoT devices at a global scale.

Our Business Network Cloud provides a foundation for digital supply chains and secure e-commerce ecosystems.

Our Business Network manages data within the organization and outside the firewall, connecting people, systems and Internet of Things (IoT) devices at a global scale for those seeking to digitize and automate their procure-to-pay and order-to-cash processes.

For our customers, this delivers streamlined connectivity, secure collaboration and real-time business intelligence in a single, unified platform.

Organizations can build global and sustainable supply chains, rapidly onboard new trading partners, comply with regional mandates, assess their credit quality and ethics scores, provide electronic invoicing and remove information silos across the extended enterprise.

Our Trading Grid connects trading partners globally and is used across a variety of industries.

Delivered as a cloud service, we enable data integration, data management, messaging, communications, and secure data exchange across an increasingly complex network of off-cloud and cloud applications, connected devices and business partners or customers.

The platform comprises solutions such as digital fax, identity and access management, digital business integration, supply chain optimization, data management and security, omnichannel communications, industrial IoT and more.

These solutions simplify the inherent complexities of business-to-business (B2B) data exchange and offer insights that help drive operational efficiencies, accelerate time to transaction and improve customer satisfaction.

Organizations of all sizes can build global and sustainable supply chains, rapidly onboard new trading partners, comply with regional mandates, assess their credit quality and ethics scores, provide electronic invoicing and remove information silos across ecosystems and the extended enterprise.

The foundation of our Business Network Cloud is our Trading Grid, which connects businesses, trading partners, transportation and logistics companies, financial institutions and government organizations globally.

OpenText offers a range of application-to-application, IoT, identity and access management, active applications and industry specific applications.

We enable supply chain optimization, digital business integration, data management, messaging, security, communications and secure data exchange across an increasingly complex network of off-cloud and cloud applications, connected devices, systems and people.

The Business Network Cloud can be accessed through our new multi-tenant, self-service Foundation offering or as a managed service to simplify the inherent complexities of business-to-business (B2B) data exchange.

OpenText’s Business Network Cloud offers insights that help drive operational efficiencies, accelerate time to transaction and improve customer satisfaction.

Experience Cloud

Our Experience Cloud powers modern experiences that drive revenue growth and customer loyalty.

Our Digital Experience solutions create, manage, track and optimize omnichannel interactions throughout the customer journey, from acquisition through to retention, and integrates with systems of record such as Salesforce® and SAP®.

The OpenText Digital Experience platform enables businesses to gain insight into their customer interactions and optimize them to improve customer lifetime value.

This includes solutions and extensions that deliver highly personalized content and engagements along a continuous customer journey.

Our Digital Experience solutions create, manage, track and optimize omnichannel interactions throughout the customer journey, from acquisition to retention, and integrate with systems of record including Salesforce® and SAP®.

The OpenText Digital Experience platform enables businesses to gain insights into their customer interactions and optimize them to improve customer lifetime value.

The platform includes solutions and extensions that deliver highly personalized content and engagements along a continuous customer journey.

With AI-powered analytics, the Experience Cloud can evaluate and deliver optimized user experiences at scale to ensure every point of interaction, whether physical or digital, on any device, is engaging and personalized.

The Digital Experience cloud platform includes a range of solutions from Customer Communications Management (CCM), Web Content Management (WCM), Digital Asset Management (DAM), Customer Analytics, AI & Insights, Digital Fax and Secure Messaging, Voice of Customer (VoC), Workforce Optimization (WFO), Intelligent Forms Automation, as well as customer journey, testing and segmentation.

Security and Protection Cloud

Our Security and Protection Cloud provides peace of mind with cybersecurity, data protection, digital forensic and endpoint security solutions.

Businesses of all sizes benefit from a comprehensive solution for proactively defending against cyber threats and preparing for business continuity and response in the event of a breach.

It delivers multiple layers of defense to detect, protect against, forensically investigate and remediate security threats or data loss.

We protect information managed by individuals, businesses, and governments within applications and at the endpoints.

For highly regulated organizations, our digital investigation and forensic security solutions enable them to find and collect complex evidence faster, reduce risk and detect and respond to cyberthreats remotely.

OpenText security solutions address information cyber resilience needs with leading digital forensic tools and endpoint detection and response.

We provide 360-degree visibility across all endpoints, devices and networks, for proactive discovery of sensitive data, identification and remediation of threats and discreet, forensically-sound data collection and investigation.

With the launch of Managed Detection and Response (MDR), OpenText Security analysts and threat hunters now deliver services 24x7, 365 days a year, combining front-line experience with industry leading automation, AI technology and OpenText software to help organizations detect threats in real time, rather than days or weeks.

Our Carbonite and Webroot product lines expand our data security and protection capabilities further for Enterprise, SMB and consumers, delivering continuous threat monitoring, remote endpoint protection, and automated cloud backup and recovery to protect employees and customer data while allowing organizations to prepare for, respond to, and recover quickly from cyberattacks.

Our Discovery platform provides leading forensics and unstructured data analytics for searching and investigating organizational data to manage legal obligations and risk.

It has powerful machine learning capabilities to help legal and compliance teams quickly find critical information for litigation discovery, investigations, compliance, data breach response, business projects, and financial contract analysis.

Security is fundamentally built-in to all OpenText Information Management software.

Our platform offers multi-level, multi-role, multi-context security.

Information is secured at the database level, by user enrolled security, context rights, and time-based security.

We also provide encryption at rest for document-level security.

The Experience Cloud platform includes a range of solutions from Customer Experience Management (CXM), Web Content Management (WCM), Digital Asset Management (DAM), Customer Analytics, AI & Insights, Digital Fax, Omnichannel Communications, Secure Messaging, Voice of Customer (VoC), as well as customer journey, testing and segmentation.

Security Cloud

Our security solutions provide organizations with capabilities to protect, prevent, detect, respond and quickly recover from threats across endpoints, network, applications, IT infrastructure and data – all with AI-led threat intelligence.

At the data layer, OpenText Security Solutions help customers be cyber-resilient with uninterrupted access and protection of business data against cyber threats.

With Carbonite Endpoint, Carbonite Server, Carbonite Cloud-to-Cloud Backup and Information Archiving, we help ensure customers have visibility across all endpoints, devices and networks, for proactive discovery of sensitive data, identification of threats and sound data collection for investigation.

At the infrastructure and application layer, OpenText Security Solutions help detect issues and respond and remediate threats.

Our full suite of capabilities includes Endpoint Detection Response (EDR), Network Detection Response (NDR), Managed Detection and Response (MDR), Digital Forensics & Incident Response and eDiscovery.

OpenText Security Solutions deliver services, combining front-line experience with automation, AI technology and OpenText software to help organizations detect threats in real time.

Moreover, our eDiscovery capabilities provide forensics and unstructured data analytics for searching and investigating organizational data to manage legal obligations and risks.

For highly regulated organizations, these machine learning capabilities help drive compliance and timely response in complex situations.

At the edge, we help customers protect endpoints, virtual machine platforms and browsers from rising cyber-attacks.

With Webroot Endpoint Protection, Webroot Domain Name System (DNS) protection, Email Security by Zix, Security Awareness Training and MDR/Threat Hunting, our security solutions are directed to the SMB and consumers segments.

We serve SMB together with our network of Managed Service Providers (MSPs) who help deploy OpenText solutions at scale.

Lastly, OpenText Security solutions help secure operations using solutions with threat intelligence.

Threat monitoring with BrightCloud, remote endpoint protection and automated cloud backup and recovery work together to protect employees and customer data while allowing organizations to prepare for, respond to and recover quickly from cyber-attacks.

Developer Cloud

Our Developer Cloud makes it faster and easier to build, extend and customize Information Management applications using a collection of Cloud services, applications, Application Programming Interfaces (APIs) and Software Development Kits (SDK).

Our solutions help research and development (R&D) teams streamline new development initiatives, utilizing fewer resources and reducing time to delivery for their projects.

With our Developer Cloud's language-neutral protocols and cloud API services, our customers can reduce infrastructure spend, improve time-to-market and minimize the time and effort of adding new capabilities.

Every new product that we release will be available as a service in the Developer Cloud.

The OpenText Developer Cloud delivers a broad and deep set of Information Management as a Service capability for organizations to extend their existing OpenText implementations or include our capabilities into their own custom solutions, such as for customer, supplier and partner collaboration.

The Developer Cloud also includes IoT capabilities for organizations to dynamically integrate multi-tiered supply chain communities and build IoT solutions for greater efficiency, agility, and new value-added services.

Data security is embedded into everything so the developer can focus on building differentiated user experiences.

Key developer API services include multi-channel capture and advanced recognition, secure and flexible content services, prescriptive and predictive analytics and reporting capabilities, low-code / no-code process and dynamic case management, enterprise federated search and electronic discovery, remote desktop and virtual desktop infrastructure, content customization / personalization and output management, information and end-point security capabilities, and the IoT platform.

Our Information Management platform can also be expanded with our low-code development tools, product APIs and SDK across the portfolio, cloud API services and out-of-the-box integrations designed to support the developer with a unified application development environment.

Advanced Technologies

Our Advanced Technologies are applied horizontally across all of our platforms and applications to accelerate digital transformation for customers.

They enrich data and deliver valuable insights at scale with machine learning and artificial intelligence, optimize processes with insight, automation and data-driven decision making, and allow organizations to quickly adopt new technologies or adapt processes with API driven products and developer services.

OpenText is regularly innovating to ensure our customers are armed with the technology they need to create Information Advantage.

AI and Analytics

Our AI and Analytics platform leverages structured or unstructured data to help organizations improve decision-making, gain operational efficiencies and increase visibility through interactive dashboards, reports and data visualizations.

It leverages a comprehensive set of data analytics software - such as text mining, natural language processing (NLP), interactive visualizations and machine learning - to identify patterns, relationships, risks and trends that are used for predictive process automation and accelerated decision making.

Our AI platform supports composite AI for improved accuracy and incorporates Apache Spark, a powerful, open-source computing foundation that lets customers take advantage of the flexibility, extensibility, and diversity of an open product stack while maintaining full ownership of their data and algorithms.

We are able to turn repositories of information into clean and integrated “data lakes” that can be mined by AI to extract useful knowledge and insight for our customers.

Digital Process Automation (DPA)

Our automation solutions enable organizations to transform into digital, data-driven businesses.

DPA delivers and supports a variety of process-driven applications that address complex business needs, while simultaneously providing a

flexible platform for rapidly building and deploying customer-centric applications.

Through DPA, we are helping customers re-engineer processes and quickly adapt to customer needs to deliver seamless customer and employee experiences.

We speed the development of case- and process-driven applications with low-code, drag-and-drop components, reusable building blocks and pre-built accelerators to build and deploy solutions more easily.

Our customers are transforming knowledge-driven work involving complex interactions among people, content, transactions and workflows across multiple systems of record to support a diverse range of use cases.

Additionally, we are combining automation and AI to predict future states and trigger processes based on data.

On or off the cloud, our DPA solutions simplify and streamline processes from front to back office.

Managed Services

OpenText provides a range of Managed Services, whether off-cloud, in the OpenText Cloud, in hybrid scenarios or even in other clouds, including our partners:

Our Developer Cloud makes it faster and easier to build, extend and customize Information Management applications using a collection of cloud services, APIs and software development kits (SDK).

Our solutions help R&D teams engage with our community of developers to innovate and build custom applications.

Our API solutions help developers accelerate new product development, utilize fewer resources and reduce time to delivery for their projects.

The OpenText Developer Cloud delivers a broad and deep set of Information Management capability for organizations to extend their existing OpenText implementations or include our capabilities into their own custom solutions, such as for customer, supplier and partner collaboration.

The Developer Cloud also includes IoT and threat intelligence capabilities for organizations to dynamically integrate multi-tiered supply chain communities and build solutions for greater efficiency, agility and new value-added services.

Data security is embedded throughout our offerings so the developer can focus on building differentiated user experiences.

Organizations can gain an information advantage and quickly turn ideas into solutions with OpenText APIs to build, integrate and customize Information Management applications.

Developers choose from a rich set of Information

Management services to manage information from any source, for any use case, including capture, archive, digital signature, workflow and case management.

OpenText APIs empower developers to focus on code-based innovation with a single, secure, infrastructure agnostic platform, freely available technical documentation and an open and engaged developer community to share knowledge and best practices to solve problems and create new solutions.

OpenText provides a range of customer solutions through professional and managed services, whether off-cloud, in the OpenText Cloud, in hybrid scenarios or other clouds, including our partners:

Google Cloud Platform, Amazon Web Services (AWS) and Microsoft Azure.

Our team provides full managed services for Information Management solutions to meet the needs of our customers.

Cloud Managed Services aims to help keep customers current on the latest technology, reduce the burden on information technology staff and ensure optimal application management by trusted experts.

With OpenText Managed Services, organizations can focus resources on their core business priorities and rest assured that their infrastructure, applications, integrations, and upgrades are all managed, monitored and optimized for security, performance and compliance.

Our team provides full advisory, implementation, migration, operation and support services for our Information Management solutions to meet the needs of our customers.

Cloud Managed Services aims to help keep customers current on the latest technology and to meet complex requirements, all with reduced burden on information technology staff and ensure optimal application management by trusted experts.

With OpenText Managed Services, organizations can focus resources on their core business priorities with the knowledge that their infrastructure, applications, integrations and upgrades are all managed, monitored and optimized for security, performance and compliance.

Our Cloud Managed Services offering provides customers with a single point of contact and a single service level agreement for OpenText solutions managed in our partner’s clouds.

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With strategic acquisitions, we are well positioned to expand our product portfolio and improve our ability to innovate and grow organically, which helps us to meet our long-term growth targets.

We believe this Total Growth strategy is a durable model that will create shareholder value over both the near and long-term.

We believe our Total Growth strategy is a durable model, that we believe will create both near and long-term shareholder value through organic and acquired growth, capital efficiency and profitability.

We are committed to continuous innovation.

Our investments in R&D push product innovation, increasing the value of our offerings to our installed customer base, which includes Global 10,000 companies (G10K), SMB and consumers.

The G10K are the world's largest companies, typically those with greater than two billion in revenues, as well as the world's largest governments and organizations.

The G10K are the world's largest companies, ranked by estimated total revenues, as well as the world's largest governments and organizations.

More valuable products, coupled with our established global partner program, lead to greater distribution and cross-selling opportunities which further help us to achieve organic growth.

Over the last three fiscal years, we have invested a cumulative total of $1.2 billion in R&D or 12.3% of cumulative revenue for that three-year period.

We target to spend 12% to 14% of revenues for R&D each fiscal year.

The cloud is a business imperative.

What used to be discussed as a potential option for managing budgets, is now a strategic direction that drives competitive positioning, product innovation, business agility, operational efficiency and cost management.

We are committed to continue our investment in the OpenText Cloud to best suit the needs of our customers.

Supported by a global, scalable, and secure infrastructure, the OpenText Cloud includes a foundational platform of technology services, and packaged business applications for industry and business processes.

The OpenText Cloud enables organizations to protect and manage information in public, private or hybrid deployments at scale.

On an annual basis, we target to spend 12% to 14% of revenues for R&D expense.

As a global leader in Information Management, we know customers need an integrated set of cloud products, solutions and services as a foundation for efficiency and growth.

The cloud is a strategic business imperative that drives customers’ investment in product innovation, business agility, operational efficiency and cost management.

OpenText expects the cloud to be our largest driver of growth.

We are committed to continuing our investment in the OpenText Cloud to best suit the evolving needs of our customers.

Supported by a global, scalable and secure infrastructure, OpenText Cloud Editions includes a foundational platform of technology services, and packaged business applications for industry and business processes.

OpenText Cloud Editions enables organizations to protect and manage information in public, private or hybrid deployments at scale.

We remain a value oriented and disciplined acquirer, having efficiently deployed $6.5 billion on acquisitions over the last 10 fiscal years.

Mergers and acquisitions are one of our leading growth drivers.

We believe in creating value by focusing on acquiring strategic businesses, integrating them into our business model and using our acquired assets to further innovate.

We look for companies that are situated within our total addressable markets.

We have developed a philosophy, the OpenText Business System, that is designed to create value by leveraging a clear set of operational mandates for integrating newly acquired companies and assets.

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The spread of COVID-19 has significantly impacted the global economy and has adversely impacted and may continue to adversely impact our operational and financial performance.

The extent of the adverse impact of the pandemic on the global economy and markets will continue to depend, in part, on the length and severity of the measures taken to limit the spread of the virus, the availability, effectiveness and use of treatments and vaccines and, in part, on the size and effectiveness of the compensating measures taken by governments and on actual and potential resurgences.

We are closely monitoring the potential effects and impact on our operations, businesses and financial performance, including liquidity and capital usage, though the extent is difficult to fully predict at this time due to the rapid evolution of this uncertain situation.

We continue to conduct business with substantial modifications to employee travel and work locations and also virtualization of sales and marketing events, which we expect to remain in place throughout calendar year 2021, along with substantially modified interactions with customers and suppliers, among other modifications.

We will continue to actively monitor the impact of the COVID-19 pandemic on all aspects of our business and geographies, including customer purchasing decisions, and may take further actions that alter our business operations as may be required by governments, or that we determine are in the best interest of our employees, customers, partners, suppliers, and shareholders.

We continue to conduct business with modifications to employee travel and work locations and also virtualization of certain events, along with modified interactions with customers and suppliers, among other modifications.

In addition, as many local governments and officials have started lifting pandemic restrictions in accordance with the guidance of public health experts, in July 2022, we implemented a Flex-Office program in which a majority of our employees work a portion of their time in the office and a portion remotely.

See “We have implemented a Flex-Office program, which will subject us to certain operational challenges and risks” in Part I, Item 1A “Risk Factors” included elsewhere within this Annual Report on Form 10-K.

We will continue to actively monitor the impact of the COVID-19 pandemic on all aspects of our business and geographies, including customer purchasing decisions, and may take further actions that alter our business operations, including our Flex-Office program, as may be required by governments, or that we determine are in the best interest of our employees, customers, partners, suppliers and shareholders.

It is uncertain and difficult to predict what the potential effects any such alterations or modifications may have on our business including the effects on our customers and prospects, or our financial results and our ability to successfully execute our business strategies and initiatives.

As previously disclosed, in order to further mitigate the operational impacts of COVID-19, our Compensation Committee and Board approved certain compensation adjustments, effective for the period May 15, 2020 through June 30, 2021, subject to review and modification as the situation warranted.

As a precaution, we also temporarily and significantly reduced all hiring and discretionary spending, while taking note of some savings to be achieved through travel restrictions and the cancellation of certain events.

These cost reduction measures were in addition to other previously disclosed facilities and workforce related actions as part of our COVID-19 Restructuring Plan.

Please see note 18 "Special Charges (Recoveries)" to the Consolidated Financial Statements included in this Annual Report on Form 10-K for more information.

After careful consideration and review, the Compensation Committee and Board approved the restoration, effective December 1, 2020 and ahead of the initially contemplated May 15, 2020 through June 30, 2021 duration described above, of all previously announced compensation adjustments.

We continue to closely monitor discretionary spending, and remain active in our hiring across the organization.

The ongoing and ultimate impact of the COVID-19 pandemic on our operations and financial performance depends on many factors that are not within our control.

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Cloud Services and Subscriptions

Cloud services and subscription revenues consist of (i) SaaS offerings, (ii) hosted services and (iii) managed service arrangements.

Cloud services and subscriptions revenues consist of (i) SaaS offerings, (ii) APIs and data services, (iii) hosted services and (iv) managed service arrangements.

These offerings allow customers to transmit a variety of content between various mediums and to securely manage enterprise information without the commitment of investing in related hardware infrastructure.

We offer B2B integration solutions such as messaging and managed services.

Messaging services allow for the automated and reliable exchange of electronic transaction information, such as purchase orders, invoices, shipment notices and other business documents, among businesses worldwide.

Managed services provide an end-to-end fully outsourced B2B integration solution to our customers, including program implementation, operational management and customer support.

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Customer support is typically renewed on an annual basis and historically customer support revenues have been a significant portion of our total revenue.

Through our OpenText customer support programs, customers receive access to software and security upgrades, a knowledge base, discussions, product information, and an online mechanism to post and review “trouble tickets”.

Additionally, our customer support teams handle questions on the

use, configuration, and functionality of OpenText products and can help identify software issues, develop solutions, and document enhancement requests for consideration in future product releases.

Through our OpenText customer support programs, customers receive access to software and security upgrades, a knowledge base, discussion boards, product information and an online mechanism to post and review “trouble tickets.” Additionally, our customer support teams handle questions on the use, configuration and functionality of OpenText products and help identify software issues, develop solutions and document enhancement requests for consideration in future product releases.

License revenues consist of fees earned from the licensing of software products to our customers.

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Together as partners, we fulfill key market objectives to drive new business, establish a competitive advantage and create demonstrable business value.

We have a number of strategic partnerships that are essential to our success.

We have a number of strategic partnerships that contribute to our success.

These include the most prominent organizations in enterprise software, hardware and public cloud, with whom we work to enhance the value of customer investments.

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• Google Cloud:

We work together with Google Cloud to deploy our Information Management solutions on the Google Cloud Platform as fully managed services.

We work together with Google Cloud to deploy our Information Management solutions on the Google Cloud Platform.

This includes a containerized application architecture for flexible cloud or hybrid deployment models.

Deploying our solutions on the Google Cloud Platform allows our customers to scale their deployments as their businesses demand.

We also work with the Google Cloud engineering team to explore integrations with Google AI/ML, Analytics, G-Suite and other functions.

We offer our solutions as a managed service and selected products as a SaaS offering.

• Amazon Web Services (AWS) :

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Together with Microsoft, we enable customers to connect all aspects of their content infrastructure, integrating these into business processes and enable collaboration, management and governance on the most valuable asset - information.

With the acquisition of Zix Corporation (Zix) in 2021, we extended our partnership with Microsoft by becoming one of their nine authorized Cloud Solutions Providers in the North American market.

• Oracle Corporation (Oracle):

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Corp., Deloitte Consulting LLP and Tata Consultancy Services (TCS).

Our partner programs also enable managed service providers (MSPs), resellers, distributors, and network and security vendors to grow through cloud-based cybersecurity, threat intelligence, and backup and recovery solutions aimed at the SMB and consumer markets.

Our partner program also enables MSPs, resellers, distributors and network and security vendors to grow through cloud-based cybersecurity, threat intelligence and backup and recovery solutions aimed at the SMB and consumer markets.

We provide the industry-specific tools, services, training, integrations, certifications and platforms our partners need to ensure trust and reliability with their customer base.

We currently have over 22,000 MSPs in our network and it is expected to grow.

This is a key go-to-market channel for us as MSPs act as an intermediary between the solutions vendors like OpenText and the SMB market.

An MSP specializes in their local market and provides managed services to their clients.

International Markets

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We compete with multiple companies, some that have single or narrow solutions and some that have a range of information management solutions, like us.

Our primary competitor is International Business Machines Corporation (IBM), with numerous other software vendors competing with us in the Information Management sector, such as Veeva Systems Inc., Quadient Inc., Pegasystems Inc., Hyland Software Inc., SPS Commerce Inc., Box Inc.

and Adobe Systems Inc.

Our primary competitor is International Business Machines Corporation (IBM), with numerous other software vendors competing with us in the Information Management sector, such as Hyland Software Inc., Datto Holding Corp., Quadient SA, Veeva Systems Inc., SPS Commerce Inc., Box Inc., CrowdStrike Holdings Inc.

and Adobe Inc.

In certain markets, OpenText competes with Oracle and Microsoft, who are also our partners.

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Additionally, new competitors or alliances among existing competitors may emerge and could rapidly acquire additional market share.

We also expect that competition will increase as a result of ongoing software industry consolidation.

We expect that competition will increase because of ongoing software industry consolidation.

We believe that certain competitive factors affect the market for our software products and services, which may include:

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The industry in which we compete is subject to rapid technological developments, evolving industry standards, changes in customer requirements and competitive new products and features.

As a result, our success, in part, depends on our ability to continue to enhance our existing products in a timely and efficient manner and to develop and introduce new products that meet customer needs while reducing total cost of ownership.

To achieve these objectives, we have made and expect to continue to make investments in research and development, through internal and third-party development activities, third-party licensing agreements and potentially through technology acquisitions.

As a result, our success, in part, depends on our ability to continually enhance our existing products in a timely and efficient manner and to develop and introduce new products that meet customer needs while reducing total cost of ownership.

through technology acquisitions.

We expect a significant amount of our future R&D investment will be in cloud-based technologies.

Our R&D expenses were $440.4 million for Fiscal 2022, $421.4 million for Fiscal 2021 and $370.4 million for Fiscal 2020.

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We regularly evaluate acquisition opportunities within the Information Management market and at any time may be in various stages of discussions with respect to such opportunities.

Below is a summary of the more material acquisitions we have made over the last five fiscal years.

Below is a summary of certain significant acquisitions we have made over the last five fiscal years.

• On December 23, 2021, we acquired Zix, a leader in SaaS based email encryption, threat protection and compliance cloud solutions for SMBs, for $894.5 million.

• On November 24, 2021, we acquired all of the equity interest in Bricata Inc.

(Bricata) for $17.8 million.

• O n March 9, 2020, we acquired XMedius, a provider of secure information exchange and unified communication solutions, for $73.5 million.

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• On September 14, 2017, we acquired Guidance, a leading provider of forensic security solutions, for $240.5 million.

• On July 26, 2017, we acquired Covisint, a leading cloud platform for building Identity, Automotive, and IoT applications, for $102.8 million.

• O n January 23, 2017, we acquired certain assets and assumed certain liabilities of the enterprise content division of EMC Corporation, a Massachusetts corporation, and certain of its subsidiaries (ECD Business) for $1.62 billion.

• On July 31, 2016, we acquired certain customer communications management software services assets and liabilities from HP Inc.

(CCM Business) for $315.0 million.

• On July 20, 2016, we acquired Recommind, a leading provider of eDiscovery and information analytics, based in San Francisco, California, United States, for $170.1 million.

• On July 26, 2017, we acquired Covisint, a leading cloud platform for building Identity Access Management, Automotive and IoT applications, for $102.8 million.

We believe our acquisitions support our long-term strategy for growth, strengthen our competitive position, expand our customer base and provide greater scale to accelerate innovation, grow our earnings and provide superior shareholder value.

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In Fiscal 2023 we intend to continue to implement strategies that are designed to:

Broaden Our Reach into Information Management through the G10K.

Broaden Our Information Management Reach into the G10K.

As technologies and customers become more sophisticated, we intend to be a leader in expanding the definition of traditional market sectors.

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Today, the destination for innovation is indisputably the cloud.

Businesses of all sizes rely on a combination of public and private clouds, managed services and off-cloud solutions.

As a result, we are committed to continue to modernize technology infrastructure and leverage our existing investments in the OpenText Cloud.

Businesses of all sizes rely on a combination of APIs, public and private clouds, managed services and off-cloud solutions.

As a result, we are committed to continue to modernize our technology infrastructure and leverage existing investments in the OpenText Cloud.

The combination of OpenText cloud-native applications and managed services, together with the scalability and performance of our partner public cloud providers, offer more secure, reliable and compliant solutions to customers wanting to deploy cloud-based Information Management applications.

The OpenText Cloud is designed to build additional flexibility and scalability for our customers:

OpenText Cloud Editions is designed to build additional flexibility and scalability for our customers:

becoming cloud-native, connecting anything and extending capabilities quickly with multi-tenant SaaS applications and services.

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We believe we are well-positioned to develop additional innovative solutions to address the evolving market.

We plan to continue investing in technology “innovation” by funding internal development as well as collaborating with third-parties.

We plan to continue investing in technology innovation by funding internal development, acquiring complementary technologies and collaborating with third-parties.

Deepen Strategic Partnerships.

OpenText is committed culturally, programmatically and strategically to be a partner-embracing company.

Our partnerships with companies such as SAP SE, Google Cloud, Amazon AWS, Microsoft Corporation, Oracle Corporation, Salesforce.com Corporation and others serve as examples of how we are working together with our partners to create next-generation Information Management solutions and deliver them to market.

Our partnerships with companies such as SAP SE, Google Cloud, AWS, Microsoft Corporation, Oracle Corporation, Salesforce.com Corporation and others serve as examples of how we are working together with our partners to create next-generation Information Management solutions and deliver them to market.

We will continue to look for ways to create more customer value from our strategic partnerships.

Broaden Global Presence .

As customers become increasingly multi-national and as international markets continue to adopt Information Management, we plan to further grow our brand, presence, and partner networks in these new markets.

As customers become increasingly multi-national and as international markets continue to adopt Information Management solutions, we plan to further grow our brand, presence and partner networks in these new markets.

We are focused on using our direct sales for targeting existing G10K customers and plan to address new geographies and SMB customers, jointly with our partners.

Deliver Organic Growth.

We are focused on investing and delivering on future organic growth.

The Information Management market is large and is expected to continue to grow and we expect cloud to be our leading growth driver.

We have multiple initiatives that are designed to deliver organic growth.

We are guiding our customers along their cloud journey, investing in our mid-market channel and deepening our relationships with our partners and hyperscalers.

As customers move more into the cloud, it will facilitate cross-sell and upsell opportunities across the product portfolio and geographies.

Selectively Pursue Acquisitions.

We expect to continue to pursue strategic acquisitions to strengthen our service offerings in the Information Management market.

In light of the continually evolving marketplace in which we operate, we regularly evaluate acquisition opportunities within the Information Management market and at any time may be in various stages of discussions with respect to such opportunities.

Considering the continually evolving marketplace in which we operate, we regularly evaluate acquisition opportunities within the Information Management market and at any time may be in various stages of discussions with respect to such opportunities.

We plan to continue to pursue acquisitions that complement our existing business, represent a strong strategic fit and are consistent with our overall growth strategy and disciplined financial management.

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None of our employees are represented by a labour union, nor do we have collective bargaining arrangements with any of our employees.

However, in certain international jurisdictions in which we operate, a “Workers' Council” represents our employees.

However, in certain European jurisdictions in which we operate, a “Workers' Council” represents our employees.

Employee Safety / COVID-19 Response

In response to the unprecedented impact of the COVID-19 pandemic, we have implemented Project Shield as a business continuity plan to address employee, customer, facility and technology-related challenges associated with the pandemic.

In response to the COVID-19 pandemic, we implemented Project Shield as a business continuity plan to address employee, customer, facility and technology-related challenges associated with the pandemic.

Project Shield maintains the overarching principle of providing safe environments for our employees, customers, partners, as well as the communities where we work.

Project Shield takes a strong human capital focus, including enabling well-researched global awareness, post-pandemic support for our employees and managing a safe return to our workplace.

We focus on analyzing key COVID-19 related data to support executive decisions, ensuring regular executive and employee communications and making strong connections with leaders around the world to respond swiftly to local changes.

Through effective use of collaboration tools and technology, a significant majority of employees are working entirely remotely without a disruption to productivity.

Over the course of the pandemic, we have ensured our benefit programs support employees, and we established the OpenText Relief Fund to provide financial assistance for employees requiring additional support for medical costs related to contracting COVID-19.

A daily case management protocol is in place to ensure a deep understanding of any impacts.

Changes to governmental orders are monitored and used in planning the phased re-opening of our offices.

While it is our intention to return to the office, it will be gradual, flexible in workplace, rooted in an understanding of local circumstances and guided by safety-first principles.

Our new flexible workplace approach will combine the benefits of in-person collaboration with increased flexibility to drive both innovation and productivity.

Our past experiences will be used to inform our future workplace standards.

We focus on analyzing key COVID-19 related data and public health protocols to support executive decisions, ensuring regular executive and employee communications and making strong connections with leaders around the world to respond swiftly to local changes.

Over the course of the pandemic, we have ensured our benefit programs support employees, and we established the OpenText Employee Relief Fund to provide financial assistance for employees requiring additional support for medical costs related to contracting COVID-19.

Project Shield extended our work from home approach at the beginning of Fiscal 2022 providing employees with continued flexibility and safety globally.

In July 2022, we implemented our Flex-Office program in which a majority of our employees work a portion of their time in the office and a portion remotely.

We continue to invest in software and hardware along with office redesign to support a flexible workforce where teams can collaborate and be productive.

Using our offices in a purposeful way drives innovation, creativity and teamwork.

Our past experiences continue to inform our future workplace standards and practices.

We remain committed to maintaining a healthy workplace where all employees and office visitors feel safe and respected by implementing new health and safety protocols aligned with regional guidelines.

Employee Engagement

We regularly conduct employee research to understand perceptions in the areas of engagement, company strategy, personal impact, manager effectiveness, recognition, career development and equity, diversity and inclusion.

Participation level and engagement remain high.

Throughout the pandemic employee communication and listening strategies increased, including supplemental surveys ranging from perceptions of safety and well-being, to feedback and office re-opening plans.

Participation level and engagement have remained high.

Throughout the phases of the pandemic, employee communication and listening strategies increased, including supplemental surveys ranging from topics of well-being, feedback from new hires on the quality of their onboarding and office re-opening plans.

Environmental, Social and Corporate Governance

The OpenText Zero-In Initiative is our commitment to our global impact goals and initiatives related to ESG.

We believe the future of growth is sustainable and inclusive, and we commit to zero footprint, zero barriers and achieving our commitments with zero compromise through our purposeful goals to achieve net-zero greenhouse gas (GHG) emissions by 2040, zero waste from operations by 2030 and to be majority ethnically diverse among employees by 2030 with equal gender representation in key roles and 40% women in leadership positions at all management levels.

Our charitable giving program supports activities at the local and global level, focused on education, innovation, disaster relief and the health and welfare of children and families.

We also provide employees three paid days off to volunteer and make an impact to the causes that matter most to them.

In addition, the OpenText Navigator Fund identifies and addresses key needs in our communities.

We launched the Navigator Internship Program to create pathways to digital jobs for Indigenous and under-represented minority students.

Recognizing that many millions of families are still recovering from the economic impact of the pandemic, we dedicated the holiday season to supporting food banks globally.

To operate long-term, we need to ensure that our local communities and the natural environment are thriving.

We are committed to mitigating any adverse environmental impacts of our business activities, which at a minimum means abiding by all environmental laws, regulations and standards that apply to us.

Our Environmental Policy articulates our commitment to measuring and managing our environmental impact.

We integrate the consideration of environmental concerns and impacts into our everyday decision making and business activities.

Externally, we promote sustainable consumption by developing and promoting environmentally sound technologies to support our customers’ digital transformations, including transitioning to the cloud environment.

Internally, we continue to develop, implement and manage company-wide environmental initiatives.

Equity, Diversity and Inclusion (ED&I)

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• Recruiting:

Platforms that are inclusive, diverse slates for key leadership roles, an increased focus on virtual work opportunities to widen recruiting talent and diversity;

Platforms that are inclusive, diverse slates for key leadership roles and an increased focus on virtual work opportunities to widen recruiting talent and diversity;

• Advancement:

Internal career building opportunities, mentoring and networks;

Employee affinity groups, including "Black Employee Engagement" and "Women in Technology", fostering sponsorship, community and career conversations;

Employee affinity groups, including “Black Employee Empowerment” and “Women in Technology”, fostering sponsorship, community and career conversations;

• Civic Action:

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Across the Company, we offer a wide variety of retirement and group benefits including medical, life and disability, which are designed to protect employees and their dependents against financial hardship due to illness or injury.

Programs are designed to recognize the diversity of our work force and a range of well-being needs.

We also have regional Employee Assistance Programs in many countries that provide 24/7 confidential counselling, support and access to resources for employees and their families.

The OpenText Employee Stock Purchase Plan (ESPP) is a global benefit program that allows

all eligible employees to purchase OpenText shares at a 15% discount and provides the opportunity for employees to strengthen their ownership in the Company while enjoying the benefits of potential share price appreciation.

The OpenText Employee Stock Purchase Plan (ESPP) is a global benefit program that allows all eligible employees to purchase OpenText shares at a 15% discount and provides the opportunity for employees to strengthen their ownership in the Company while enjoying the benefits of potential share price appreciation.

Internal equity is a cornerstone of our goals.

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Our strategies focus on ensuring strong technical credentials, building capabilities, new skills sets and a high duty of care in ensuring ethical, secure and compliant practices.

All employees have internal access to certification on OpenText and partner products.

Leaders and managers play a key role in the engagement of employees.

From a focus on high quality interviewing and onboarding of new hires to the importance of career development planning, we foster a culture and value proposition of career development.

Internal applications to job postings are highly encouraged.

Employees have internal access to certification on OpenText and partner products.

Our annual Career Day focuses on career development planning and honing manager skills in developing teams.

Our annual Career Week event focuses on career development planning and honing manager skills in developing teams.

We offer an annual education reimbursement program to all employees globally.

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These compliance programs ensure that we operate our business with integrity, following standard business ethics across the globe.

Environmental, Social and Corporate Governance (ESG)

We support many global and local employee-led initiatives.

Our charitable giving program supports activities focused on education, innovation and disaster relief while also providing employees three paid days off to volunteer and make an impact in their community.

In addition, we recently launched the OpenText Voyager Fund to identify and address key needs in our communities.

To operate long-term, we need to ensure that our local communities and the natural environment are thriving.

We are committed to mitigating the adverse environmental impacts of our business activities, which at a minimum means abiding by all environmental laws, regulations and standards that apply to us.

Our Environmental Policy articulates our commitment to measuring and managing our environmental impact.

We have established short-term environmental goals on energy consumption, waste diversion and greenhouse gas emissions.

Corporate Mission

Overall, our people programs and actions are driven by our mission.

• Our Belief:

Information and knowledge make business and people better.

• Our Aspiration:

To be the leading cloud-based Information Management company, enabling intelligent, secure and connected business.

• Our Passion:

Deliver compelling innovations that provide our customers a competitive advantage, and create an inclusive environment where passionate, skilled and diverse employees thrive.

• Our Mission:

We power and protect information

• Our Purpose:

To elevate every person and every organization to gain the information advantage

Available Information

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In addition, our filings with the SEC may be accessed through the SEC's website at www.sec.gov and our filings with the Canadian Securities Administrators (CSA) may be accessed through the CSA's System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com .

The SEC and SEDAR websites are included in this Annual Report on Form 10-K as inactive

textual references only.

The SEC and SEDAR websites are included in this Annual Report on Form 10-K as inactive textual references only.

Except for the documents specifically incorporated by reference into this Annual Report, information contained on the SEC or SEDAR websites is not incorporated by reference in this Annual Report on Form 10-K and should not be considered to be a part of this Annual Report.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business