Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 81

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 81
---
2025, an additional $2.7 million for its services in connection with the
Merger, which is contingent upon the closing of the Merger, and the Company has agreed to pay an affiliate of JLL Securities $0.2 million in connection with a termination of a separate sales engagement mandate for a property located in Phoenix,
Arizona, such that the aggregate fee for JLL Securities and its affiliate for this engagement is expected to be approximately $5.0 million. In addition, the Company agreed to reimburse JLL Securities for its reasonable expenses incurred in
connection with JLL Securities’ engagement and to indemnify JLL Securities and certain related parties against specified liabilities, including liabilities under the federal securities laws.

JLL Securities’ opinion was approved by a committee of JLL Securities’ investment banking and other professionals in accordance with its customary
practice. JLL Securities is the real estate investment banking arm of Jones Lang LaSalle, Inc., which is a professional full-service firm specializing in real estate advisory and investment management businesses. JLL is a Fortune 500 company with
operations in 80 countries and more than 98,000 employees as of December 31, 2021.

JLL Securities is a securities firm engaged directly and through
affiliates and related persons in a number of investment banking, financial advisory and merchant banking activities. During the two years preceding the date of its opinion, its capital markets affiliates had engaged in financial and real estate
advisory relationships with the Company and its affiliates for which JLL Securities and such affiliates received aggregate fees of $571,000 in connection with such services. Such relationships included acting as consultant or leasing advisor to the
Company in connection with asset sales or financings. In addition, the Company is currently in dialogue with an affiliate of JLL Securities related to providing sales brokerage services in connection with the marketing and potential sale of select
properties by the Company. During the two years preceding the date of its opinion, JLL Securities had not been engaged to provide financial advisory or other services to Parent. During the two years preceding the date of its opinion, JLL Securities
and its affiliates engaged in financial and real estate advisory relationships with affiliates of Parent, for which JLL Securities and its affiliates received customary fees in connection with such services. Such relationships included
(i) acting as sales brokers of financing advisors on behalf of Morning Calm or its affiliates for which it received aggregate fees of $1,770,000, and (ii) acting as sales brokers for Elliott and its