Company: CIO
Filing Date: 2025-08-22
Form Type: PREM14A
Source: 0001193125-25-186443
Chunk: 116

Company: City Office REIT, Inc.
Filing Date: 2025-08-22
Form: PREM14A
Chunk 116
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 Sub to consummate the Merger or the other transactions contemplated by the Merger Agreement. |

75

The representations and warranties of each of the parties to the Merger Agreement will expire upon the closing of the Merger. Conduct of Our Business Pending the Merger Under the Merger Agreement, we have agreed that, subject to certain exceptions in the Merger Agreement and the disclosure schedules delivered in connection therewith, between the date of the Merger Agreement and the earlier of the Effective Time and the termination of the Merger Agreement in accordance with its terms (the “Interim Period”), we will, and will cause our subsidiaries to:

| • |     | carry on its business in the ordinary course of business consistent with past practice; and |

| • |     | use commercially reasonable efforts to preserve its assets, rights and properties in good repair and condition,                                                                                                                                         
 keep available the services of its current officers, employees and consultants, preserve its goodwill and its relationships with customers, suppliers, licensors, licensees, distributors and others having business dealings with it, and preserve the 
 Company’s status as a REIT.                                                                                                                                                                                                                             |

We have also agreed that, subject to certain exceptions in the Merger Agreement and the disclosure schedules delivered in connection therewith, during the Interim Period, without the prior written consent of Parent (which consent may not be unreasonably withheld, conditioned or delayed), we will not, and will not permit any of our subsidiaries to, among other things:

| • |     | declare, set aside or pay any dividends on, or make any other distributions (whether in cash, stock or property)                                                                                                                                     
 in respect of, any of its capital stock or other equity interests, except for (x) dividends by a wholly owned subsidiary of the Company to its parent or distributions to the extent required for the Company to maintain its status as a REIT or to 
 avoid or reduce the incurrence of any entity-level income or excise taxes by the Company and (y) the regular quarterly distributions made in respect of the Preferred Stock in accordance with the Company’s charter, (ii) except as                 
 required by the Merger Agreement, purchase, redeem or otherwise acquire shares of capital stock or other equity interests of the Company or its subsidiaries or any options, warrants, or rights to acquire any such shares or other equity          
 interests or (iii) split, combine, reclassify or otherwise amend the terms of any of its capital stock or other equity interests or issue or authorize the issuance of any other securities in respect of