Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 43

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 43
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 representatives of the
Financial Advisors and the Company’s special transaction counsel, DLA Piper LLP (US) (“DLA Piper”). Later on June 6, 2024, Mr. Farrar delivered to the Board the June 5, 2024 revised letter of intent. The Board unanimously approved
terminating discussions with Bidder A due to significant uncertainty regarding Bidder A’s financing capabilities, minimal diligence done to date and the lower per share range as compared to their previous offers, and instructed management and
the representatives of the Financial Advisors to conduct the proposed outreach as promptly as practicable.

On June 10, 2024, at the direction of the
Board, the Company delivered a letter to Bidder A, which terminated discussions between the two groups and requested a return of all confidential information in Bidder A’s possession.

On June 14, 2024, representatives from Bidder A’s financial advisor called Mr. Farrar to provide context regarding Bidder A’s decreased
offer price. Mr. Farrar expressed that he was not confident that Bidder A had sufficient debt or equity financing in order to complete a transaction. Later that day, Bidder A submitted a revised letter of intent to acquire the Company, which
included a purchase price range of $8.00 to $9.00 per share and requested a 45-day exclusivity period.

On
June 17, 2024, Mr. Farrar communicated with the Board the revised terms of Bidder A’s latest offer and provided an update on his conversations regarding termination of discussions with Bidder A. On June 18, 2024,

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at the direction of the Board, due primarily to significant uncertainty regarding Bidder A’s financing capabilities and minimal diligence done to date, management delivered a letter to
Bidder A, which terminated discussions between the two groups and requested a return of all confidential information in Bidder A’s possession.

On July 1, 2024, representatives from Bidder A requested that its potential debt provider be admitted to the VDR, which request was granted.

On July 16, 2024, at the direction of the Board, Mr. Farrar traveled to New York to attend meetings organized by representatives of the Financial
Advisors with a number of potential investors and/or acquirors with respect to a Strategic Alternative, which also included a meeting with the chief executive officer of Bidder A. During the meeting with Bidder A’s chief executive officer,
Mr. Farrar expressed the