Company: CIO
Filing Date: 2025-08-22
Form Type: PREM14A
Source: 0001193125-25-186443
Chunk: 71

Company: City Office REIT, Inc.
Filing Date: 2025-08-22
Form: PREM14A
Chunk 71
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 deemed necessary from qualified professionals. JLL Securities expressed no view or opinion as to the financing of the Merger or the terms or conditions upon which it is obtained. JLL
Securities’ opinion did not address the underlying business decision of the Company to engage in the proposed transaction or the relative merits of the Merger as compared to any strategic alternatives that may be available to the Company.

46

JLL Securities’ opinion was only one of many factors considered by the Board in evaluating the
proposed Merger. Neither JLL Securities’ opinion nor its analyses were determinative of the Common Stock Merger Consideration or of the views of the Board or Company management with respect to the Merger or the Common Stock Merger
Consideration. The type and amount of the Common Stock Merger Consideration payable in the Merger was determined through negotiation between the Company and Parent, and the decision of the Company to enter into the Merger Agreement was solely
that of the Board.

Financial Analyses

The
following is a summary of the material financial analyses provided by JLL Securities to the Board in connection with the proposed Merger. The summary set forth below does not purport to be a complete description of the financial analyses performed
by, and underlying the opinions of, JLL Securities, nor does the order of the financial analyses described represent the relative importance or weight given to those financial analyses by JLL Securities. The preparation of such an opinion is a
complex process involving various quantitative and qualitative judgments and determinations with respect to the financial, comparative and other analytical methods employed and the adaptation and application of these methods to the unique facts and
circumstances presented. As a consequence, neither JLL’s opinion nor its underlying analyses is readily susceptible to summary description. JLL arrived at its opinion based on the results of all analyses undertaken by it and assessed as a
whole and did not draw, in isolation, conclusions from or with regard to any individual analysis, methodology or factor. While the results of each analysis were taken into account in reaching JLL’s overall conclusion with respect to fairness,
JLL did not make separate or quantifiable judgments regarding individual analyses. Accordingly, JLL believes that its analyses and the following summary must be considered as a whole and that selecting portions of its analyses, methodologies and
factors, without considering all analyses, methodologies and factors, could create a misleading or incomplete view of the processes underlying JLL’s analyses and opinion.

The financial analyses summarized below include information presented in tabular format. In order to