Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 70

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 70
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, JLL Securities was advised by the Company management, and, with the Board’s consent, JLL Securities assumed, without independent investigation, that they have been reasonably prepared and reflect the best currently available estimates and good faith judgment of Company management of the expected future competitive, operating and regulatory environments and related financial performance of the Company. JLL Securities assumes no responsibility for, and expresses no view with respect to the Projections, or any other forward-looking information or the assumptions on which they are based. JLL Securities has relied, at the Board’s direction, upon the assurances of the Company management that it is unaware of any facts that would make the information provided to or reviewed by JLL Securities incomplete or misleading. JLL Securities did not perform an independent appraisal of the assets and liabilities (contingent, derivative, off-balance-sheetor otherwise) of the Company, including the Company’s real estate portfolio, nor was JLL Securities furnished with any such appraisals, and with the Board’s consent, JLL Securities relied upon and assumed, without independent verification, the accuracy of information provided by the Company. In particular, JLL Securities did not express any opinion as to the value of any asset or liability of the Company or any of its subsidiaries, whether at current market prices or in the future. JLL Securities did not assume any obligation to conduct, nor did JLL Securities conduct, any physical inspection of the properties or facilities of the Company. Representatives of the Company advised JLL Securities, and JLL Securities relied upon and assumed, without independent verification, that the terms of the Merger Agreement have been negotiated on an arm’s-lengthbasis. In arriving at its opinion, JLL Securities did not take into account any litigation that is pending or may be brought against the Company or any of its respective affiliates or representatives. JLL Securities was advised by the Company that it has operated in conformity with the requirements for qualification as a REIT for U.S. federal income tax purposes since its formation as a REIT and further assumed, at the Board’s direction, that the Merger will not adversely affect the status or operations of the Company. In addition, JLL Securities did not evaluate the solvency or fair value of any party to the Merger Agreement under any state or federal laws or rules, regulations, guidelines or principles relating to bankruptcy, insolvency or similar matters. For purposes of rendering its opinion, JLL Securities assumed that there had not occurred any material change in the assets, liabilities, financial condition, results of operations,