Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 67

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 67
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 — |   |     |            |      — |   |     |            |      — |   |     |            |      — |   |     |            |      — |   |
| City Center Development Proceeds ($70.3M less 25% tax) |     |          |        |   |     |            |      — |   |     |            |      — |   |     |            |      — |   |     |            |      — |   |     | $          | 52,725 |   |
| Unlevered Free Cashflow                                |     | $        | 22,612 |   |     | $          | 35,850 |   |     | $          | 38,900 |   |     | $          | 38,599 |   |     | $          | 26,264 |   |     | $          | 96,906 |   |
| Shares & Units Outstanding                             |     |          | 41,734 |   |     |            | 42,103 |   |     |            | 42,403 |   |     |            | 42,703 |   |     |            | 43,003 |   |     |            | 43,303 |   |

| (1) | Assumed sale of Phoenix Assets closed on July 31, 2025, except for Pima Center and Block 23 which were                                                                                                                                                   
 assumed to close in September 2025. As disclosed in our Current Report on Form 8-K filed on August 15, 2025, the Company disposed of six of its seven office properties on August 15, 2025 and the sale of the Pima Center is expected to close later in 
 2025.                                                                                                                                                                                                                                                    |

43

Opinions of Our Financial Advisors Opinion of JLL Securities The Board retained JLL Securities to act as its financial advisor in connection with the transactions contemplated by the Merger Agreement. On July 23, 2025, JLL Securities orally rendered its opinion, which was subsequently confirmed in writing by delivery of JLL Securities’ written opinion addressed to the Board, dated July 23, 2025, that, as of such date, and based upon and subject to the assumptions and other relevant matters considered therein, the Common Stock Merger Consideration to be paid in the Merger to the holders of the Common Stock (other than shares of Common Stock held by any direct or indirect