Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 135

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 135
---
 any equity-based plan) and each other existing (as of immediately prior to the Effective Time) employment, bonus, change in control, retention, severance and termination protection plan, policy or agreement of or between us or our subsidiaries and any current or former officer, director or employee, in each case in accordance with the terms of the Merger Agreement and the disclosure schedules delivered in connection therewith. Parent acknowledges and agrees that the transactions contemplated by the Merger Agreement constitute a “change in control” for purposes of each of our benefit plans that uses such term or a similar term, including, without limitation, certain specified employment agreements. Financing of the Merger General Parent has informed us that in connection with the closing of the Merger, Parent expects to assume the outstanding indebtedness under our unsecured credit facility, our outstanding term loan and certain mortgage loans to be prepaid or remain outstanding. As of June 30, 2025, we had approximately $647 million in aggregate principal amount of consolidated unsecured indebtedness outstanding, including $258 million under our unsecured credit facility, $25 million under our term loan and $367 million under our mortgage loans. As of the date hereof, the term loan has been repaid from the net proceeds from the sale of certain of the Phoenix Assets and no amount remains outstanding. We anticipate that the total amount of funds necessary to complete the Merger, the sale of the Company’s Phoenix Assets and the transactions contemplated by the Merger Agreement will be approximately $1.1 billion, including the funds needed to:

| • |     | pay the Common Stock Merger Consideration and the Preferred Stock Merger Consideration due to holders of Common                                                        
 Stock and Preferred Stock, respectively, under the Merger Agreement, and make payments in respect of outstanding RSU Awards and PSU Awards under the Merger Agreement; |

| • |     | pay, redeem or otherwise terminate, or assume any of our outstanding indebtedness in connection with the 
 consummation of the Merger and the other transactions contemplated by the Merger Agreement; and          |

| • |     | pay all fees, expenses and other obligations required to be paid or satisfied in connection with the Merger and 
 the other transactions contemplated by the Merger Agreement.                                                    |

Parent expects this amount to be funded through a combination of the following: (1) the equity financing in an aggregate amount of up to $275 million; and (2) the debt financing in an aggregate principal amount of up to $400 million. Equity Financing On