Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 60

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 60
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 recommendation                                                                                            
 that the Common Stockholders approve the Merger under certain circumstances, subject to payment of the Company Termination Fee if Parent elects to terminate the Merger Agreement in such circumstances; |

| • |     | the knowledge of the Board of the business, operations, financial condition, earnings and prospects of the                                                                                   
 Company, including its assets, as well as its knowledge of the current and prospective environment in which the Company operates, including economic, market and capital raising conditions; |

| • |     | the current state of the U.S. and global economies, including volatility in the credit, financial and stock                                                                                                                                      
 markets, global inflation trends and the interest rate environment, the potential for a recession, and the current and potential impact in both the near term and long term on the Company’s industry and the trading price of our Common Stock; |

| • |     | the possibility that, if the Board declined to approve the Merger Agreement, there may not be another opportunity     
 for the Company’s stockholders to receive a comparably priced offer with a comparable level of closing certainty; and |

| • |     | the fact that the Merger would be subject to the approval of Common Stockholders, and Common Stockholders would                                                                                                                                      
 be free to reject the Merger by voting against the Merger for any reason, including if a higher offer were to be made prior to the Special Meeting (in certain cases subject to payment by the Company of the Company Termination Fee if the Company 
 subsequently were to enter into a definitive agreement relating to, or to consummate, a competing proposal).                                                                                                                                         |

In the course of its deliberations, the Board also considered a number of uncertainties, risks and potentially negative factors relating to entering into the Merger Agreement, including (not necessarily in the order of relative importance):

| • |     | our inability to solicit competing proposals and the possibility that other prospective bidders may perceive the                                                                                                                                   
 Company Termination Fee payable by us under certain circumstances and Parent’s rights under the Merger Agreement to negotiate with the Company to match the terms of any Superior Proposal prior to the Company being able to terminate the Merger 
 Agreement and accept a Superior Proposal to be a deterrent to making alternative acquisition proposals;                                                                                                                                            |

| • |     | the fact that, following the merger, the Company will no longer exist as an independent public company and our                                                                                                                                
 existing stockholders will not participate in any future appreciation in the value of the Common Stock, that there is a risk that the Common Stock Mer