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OpenText Named one of Canada's Most Admired Corporate Cultures 2021

T.OTEX | November 30, 2021

WATERLOO, ON, Nov. 30, 2021 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) has been recognized as one of Canada's Most Admired Corporate Cultures for 2021 by Waterstone Human Capital, Canada's leading cultural talent management firm. This national program recognizes best-in-class organizations across Canada who foster high-performance corporate cultures creating a critical advantage in a hyper-competitive market to attract and retain talent.

"The OpenText culture, values and people are the foundation for the success of our customers," said Mark J. Barrenechea, OpenText CEO & CTO. "Every day more than 14,000 OpenText employees around the world deliver compelling innovations to our customers, inspired by the belief that information and knowledge make businesses, people and the planet better."

The recognition was awarded following a detailed analysis of the organization in six areas: Vision and Leadership, Recruitment and Hiring for Fit, People Development and Talent Management, Cultural Alignment and Measurement, Corporate Social Responsibility and Organizational Performance.

OpenText believes the future of growth is both inclusive and sustainable, and announced bold 2030 objectives called "The OpenText Zero Initiative": Zero Barriers, Zero Waste, and Zero Emissions. More information on The OpenText Zero Initiative can be found here.

"OpenText is committed to building an inclusive environment where enthusiastic, skilled, and diverse employees can thrive. The challenges of the past two years have only strengthened this commitment, and we have developed new programs to support employee wellness, give back to our communities, and strengthen equity, diversity and inclusion," Barrenechea added.

OpenText Zero Initiative commitments include, by 2030:

Zero Barriers: Majority diverse company and greater than 40% female leaders
Zero Waste: From operations
Zero Emissions: 50% reduction by 2030, and net-zero emissions by 2040

Programs in Calendar 2021 included:

A new Flex-First approach to return to the workplace.
The launch of an internship program with Lakehead University to hire up to 25 Indigenous students.
Delivering 4 million meals, through a $1M USD donation to food banks around the world.
Providing COVID vaccinations to employees, family members and relief funds to Open Text employees world-wide.

"At Waterstone we believe corporate culture drives performance and that it's your organization's greatest asset," said Marty Parker, President and Chief Executive Officer of Waterstone Human Capital and Chair of the Canada's Most Admired™ program. "Each of the 2021 award recipients puts culture at the center of everything they do and demonstrates a commitment to culture as competitive advantage. They set an excellent example of how crafting and sustaining a high performance culture can drive incredible growth and performance."

About Waterstone Human Capital

At Waterstone Human Capital, we inspire organizations to build high performance cultures. We're a human capital management consulting firm specializing in retained executive search, cultural measurement and assessment, and leadership training and development. We have successfully helped hundreds of entrepreneurial-minded, highgrowth organizations across North America recruit, measure and train for fit. Waterstone is also the founder of the Canada's Most Admired™ Corporate Cultures and Canada's Most Admired™ CEO programs. These national programs annually recognize best-in-class Canadian organizations and CEOs, for fostering cultures that enhance performance and help sustain a competitive advantage.

For more information, please visit waterstonehc.com or canadasmostadmired.com.

About OpenText

OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com

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Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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