Company: CIO
Filing Date: 2025-08-15
Form Type: DEFA14A
Source: 0001193125-25-181889
Chunk: 226

Company: City Office REIT, Inc.
Filing Date: 2025-08-15
Form: DEFA14A
Chunk 226
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 close at a later date, subject to the Company obtaining certain
approvals related to the property’s ground lease. The Company does not have a material relationship with the buyer of the Phoenix Portfolio and the disposition is not an affiliated transaction.

Concurrent to the first closing of the Phoenix Portfolio sale transaction, the Company entered into a third amendment to the Amended and
Restated Credit Agreement which, among other things, will reduce the available commitment for the revolving credit facility to $150 million. Upon closing of each disposition, net proceeds shall be used to pay down the Company’s term loan
and revolving credit facility, less amounts used to repay property-level debt related to the Phoenix Portfolio.

The accompanying
unaudited Pro Forma Consolidated Balance Sheet is presented as of June 30, 2025 and the unaudited Pro Forma Consolidated Statements of Operations and unaudited Pro Forma Consolidated Statements of Comprehensive Income are presented for the six-month period ended June 30, 2025 and the year ended December 31, 2024. The unaudited Pro Forma Financial Statements include certain pro forma adjustments to illustrate the estimated effect of the
Company’s disposition of the entire Phoenix Portfolio, including Pima Center. The City Office REIT, Inc. Historical columns have been derived from the audited financial statements as of and for the year ended December 31, 2024 and from
the unaudited interim financial statements for the six-month period ended June 30, 2025.

On
the unaudited Pro Forma Consolidated Balance Sheet, the pro forma adjustments reflect the removal of the disposed properties as if the transaction had occurred on June 30, 2025. On the unaudited Pro Forma Consolidated Statements of Operations
and unaudited Pro Forma Consolidated Statements of Comprehensive Income, for the six-month period ended June 30, 2025 and the year ended December 31, 2024, the pro forma adjustments reflect the
removal of historical revenue and expenses of the disposed properties for the periods presented as if the transaction had occurred on January 1, 2024.

The unaudited Pro Forma Consolidated Financial Statements set forth below are not fact and there can be no assurance that the Company’s
results would not have differed significantly from those set forth below if the disposition had actually occurred on January 1, 2024. Accordingly, the unaudited Pro Forma Consolidated Financial Statements are presented for illustrative purposes
only