OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands of U.S. dollars)

(unaudited)

Three Months Ended September 30,

2015

2014

Net income for the period

$

41,312

$

64,652

Other comprehensive income—net of tax:

Net foreign currency translation adjustments

1,723

3,105

Unrealized gain (loss) on cash flow hedges:

Unrealized loss

(3,390)

(2,900)

Loss reclassified into net income

512

53

Actuarial gain (loss) relating to defined benefit pension plans:

Actuarial gain (loss)

1,113

(3,118)

Amortization of actuarial loss into net income

83

121

Unrealized gain on short-term investments

15

—

Unrealized loss on marketable securities (Actuate)

—

(494)

Total other comprehensive income (loss), net, for the period

56

Total comprehensive income

41,368

61,419

Comprehensive income attributable to non-controlling interests

(26)

(26)

Total comprehensive income attributable to OpenText

$

41,342

$

61,393

OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands of U.S. dollars)

(unaudited)

Three Months Ended September 30,

2015

Cash flows from operating activities:

Net income for the period

$

41,312

$

64,652

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization of intangible assets

60,602

56,332

Share-based compensation expense

6,533

4,449

Excess tax expense (benefits) on share-based compensation expense

216

(395)

Pension expense

1,167

1,220

Amortization of debt issuance costs

1,156

1,143

Amortization of deferred charges and credits

2,617

2,631

Deferred taxes

(4,184)

(1,545)

Changes in operating assets and liabilities:

Accounts receivable

52,106

55,543

Prepaid expenses and other current assets

5,834

(149)

Income taxes

3,797

17,806

Accounts payable and accrued liabilities

(48,322)

(34,139)

Deferred revenue

(32,393)

(26,755)

Other assets

2,281

(2,262)

Net cash provided by operating activities

92,722

138,531

Cash flows from investing activities:

Additions of property and equipment

(17,197)

(30,235)

Proceeds from maturity of short-term investments

2,255

—

Purchase of Actuate Corporation, net of cash acquired

(7,701)

—

Purchase of Informative Graphics Corporation, net of cash acquired

(88)

—

Purchase of ICCM Professional Services Limited, net of cash acquired

(2,027)

—

Purchase consideration for prior period acquisitions

—

(222)

Other investing activities

(926)

(7,374)

Net cash used in investing activities

(25,684)

(37,831)

Cash flows from financing activities:

Excess tax (expense) benefits on share-based compensation expense

(216)

395

Proceeds from issuance of Common Shares

5,252

7,099

Common Shares repurchased

(50,026)

—

Repayment of long-term debt

(2,000)

(13,417)

Debt issuance costs

—

(183)

Payments of dividends to shareholders

(23,312)

(21,045)

Net cash used in financing activities

(70,302)

(27,151)

Foreign exchange loss on cash held in foreign currencies

(5,950)

(8,953)

Increase (decrease) in cash and cash equivalents during the period

(9,214)

64,596

Cash and cash equivalents at beginning of the period

699,999

427,890

Cash and cash equivalents at end of the period

$

690,785

$

492,486