OPEN TEXT CORPORATION

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY

(In thousands of U.S. dollars and shares)

Common Shares and
Additional Paid in Capital

Treasury Stock

Retained
Earnings

Accumulated
Other
Comprehensive
Income

Non-
Controlling
Interests

Total

Shares

Amount

Shares

Amount

Balance as of June 30, 2016

242,810

$

965,068

(1,268)

$

(25,268)

$

992,546

$

46,310

$

541

$

1,979,197

Issuance of Common Shares

Under employee stock option plans

1,012

20,732

—

—

—

—

—

20,732

Under employee stock purchase plans

427

11,604

—

—

—

—

—

11,604

Under the public Equity Offering

19,811

604,223

—

—

—

—

—

604,223

Income tax effect related to public Equity offering

—

5,077

—

—

—

—

—

5,077

Equity issuance costs

—

(19,574)

—

—

—

—

—

(19,574)

Share-based compensation

—

30,507

—

—

—

—

—

30,507

Income tax effect related to share-based compensation

—

1,534

—

—

—

—

—

1,534

Purchase of treasury stock

—

—

(244)

(8,198)

—

—

—

(8,198)

Issuance of treasury stock

—

(5,946)

410

5,946

—

—

—

—

Dividends declared

($0.4770 per Common Share)

—

—

—

—

(120,581)

—

—

(120,581)

Other comprehensive income - net

—

—

—

—

—

2,490

—

2,490

Non-controlling interest

—

229

—

—

—

—

164

393

Net income for the year

—

—

—

—

1,025,659

—

256

1,025,915

Balance as of June 30, 2017

264,060

$

1,613,454

(1,102)

$

(27,520)

$

1,897,624

$

48,800

$

961

$

3,533,319

Issuance of Common Shares

Under employee stock option plans

2,870

54,355

—

—

—

—

—

54,355

Under employee stock purchase plans

721

20,458

—

—

—

—

—

20,458

Share-based compensation

—

27,594

—

—

—

—

—

27,594

Issuance of treasury stock

—

(8,788)

411

8,788

—

—

—

—

Dividends declared

($0.5478 per Common Share)

—

—

—

—

(145,613)

—

—

(145,613)

Other comprehensive income - net

—

—

—

—

—

(15,155)

—

(15,155)

Net income for the year

—

—

—

—

242,224

—

76

242,300

Balance as of June 30, 2018

267,651

$

1,707,073

(691)

$

(18,732)

$

1,994,235

$

33,645

$

1,037

$

3,717,258

Issuance of Common Shares

Under employee stock option plans

1,472

35,626

—

—

—

—

—

35,626

Under employee stock purchase plans

711

21,835

—

—

—

—

—

21,835

Share-based compensation

—

26,770

—

—

—

—

—

26,770

Purchase of treasury stock

—

—

(726)

(26,499)

—

—

—

(26,499)

Issuance of treasury stock

—

(16,465)

614

16,465

—

—

—

—

Dividends declared

($0.6300 per Common Share)

—

—

—

—

(168,859)

—

—

(168,859)

Cumulative effect of ASU 2016-16

—

—

—

—

(26,780)

—

—

(26,780)

Cumulative effect of Topic 606

—

—

—

—

29,786

—

—

29,786

Other comprehensive income - net

—

—

—

—

—

(9,521)

—

(9,521)

Non-controlling interest

—

(625)

—

—

—

—

42

(583)

Net income for the year

—

—

—

—

285,501

—

136

285,637

Balance as of June 30, 2019

269,834

$

1,774,214

(803)

$

(28,766)

$

2,113,883

$

24,124

$

1,215

$

3,884,670