Company: CIO
Filing Date: 2025-08-22
Form Type: PREM14A
Source: 0001193125-25-186443
Chunk: 64

Company: City Office REIT, Inc.
Filing Date: 2025-08-22
Form: PREM14A
Chunk 64
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 becomes less predictive with each succeeding year. The estimates and assumptions underlying the financial projections involve judgments with respect to, among other things, economic, competitive and financial market conditions and future business decisions that may not be realized and that are inherently subject to significant business, economic and competitive uncertainties and contingencies, including, among other things, the inherent uncertainty of the business and economic conditions affecting the industries in which we operate. The financial projections constitute forward-looking information and are subject to a wide variety of significant risks and uncertainties that could cause the actual results to differ materially from the projected results. For additional information on factors that may cause our future financial results to materially vary from the projected results summarized below, see the section entitled “Cautionary Statement Regarding Forward-Looking Statements”. Accordingly, there can be no assurance that the projected results summarized below will be realized or that actual results will not differ materially from the projected results summarized below, and the financial projections cannot be considered a guarantee of future operating results and should not be relied upon as such. Neither we nor our affiliates nor advisors nor any other person has made any representation to any of our stockholders or any other person regarding our actual performance compared to the results included in the financial projections. We have not made any representation to Elliot, Morning Calm or their affiliates, in the Merger Agreement or otherwise, concerning the financial projections. This Proxy Statement contains certain non-GAAPfinancial measures, including:

| • |     | NOI which is defined as rental and other revenues less property operating expenses. |

| • |     | Cash NOI, which is defined as NOI less the effect of recurring straight-line rents/expenses and amortization of 
 above and below market leases.                                                                                  |

| • |     | EBITDA, which is defined as Cash NOI less general and administrative expenses. |

| • |     | Unlevered Free Cashflow, which is defined as EBITDA less tenant improvements and incentives, leasing commissions                                                                                                         
 and capital expenditures net of lender escrow reimbursement, and, solely for calendar year 2030, a one-time estimated net gain of $52.7 million from the Company’s previously-disclosed City Center development project. |

The Company believes that its presentation of these non-GAAPmeasures provides useful supplemental information to investors and management regarding the Company’s financial condition and results of operations. 42

Other firms may calculate non-GAAPmeasures differently than the Company, which limits comparability between companies. Non-GAAPmeasures are not in accordance with, nor a substitute for,