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      "text": "Including Micro Focus' (5) previously announced cost savings program of $300M (net of inflation)\n$100M in expected additional cost synergies over the next 24 months",
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      "text": "OpenText: A-EBITDA(1) $1.3B, A-EBITDA %(1) 36.2%, FCF(1) $889M, FCF % of Total Revenues(1) 25.4%, 70% FCF to A-EBITDA\nMicro Focus: A-EBITDA (2) $942M, A-EBITDA % (2) 35.3%, A-FCF(3) $253M, A-FCF % of Total Revenues (4) 9.5%, 27% A-FCF to A-EBITDA",
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      "text": "1. Please refer to \"Use of Non-GAAP Financial Measures\" in the investor presentation for the year-ended June 30, 2022 and \"Reconciliation of selected GAAP-based measures to Non-GAAP-based measures\" included within our current and historical filings on Forms 10-Q, 10-K\n2. Pro forma TTM A-EBITDA represents Micro Focus' unaudited proforma A-EBITDA for the twelve months ended April 30, 2022, excluding Digital Safe\n3. Adjusted Free cash flow is based on Free cash flow for the twelve months ended April 30, 2022, excluding Digital Safe as provided by Micro Focus in their earnings press release\n4. Pro forma TTM revenue represents Micro Focus' unaudited proforma revenue for the twelve months ended April 30, 2022, excluding Digital Safe revenue.\n5. Based on Micro Focus Strategy Day Presentation as of November 30, 2021",
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