Company: CIO
Filing Date: 2025-08-22
Form Type: PREM14A
Source: 0001193125-25-186443
Chunk: 278

Company: City Office REIT, Inc.
Filing Date: 2025-08-22
Form: PREM14A
Chunk 278
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 publicly traded securities of certain other companies that we deemed to be relevant;   |

| 7. | conducted such other financial studies, analyses and inquiries and considered such other information and 
 factors as we deemed appropriate;                                                                        |

| 8. | received a certificate addressed to Raymond James from a member of senior management of the Company regarding,                                                                           
 among other things, the accuracy of the information, data and other materials (financial or otherwise) provided to, or discussed with, Raymond James by or on behalf of the Company; and |

| 9. | discussed with members of the senior management of the Company certain information relating to the                                                                                                                                                        
 aforementioned and any other matters which we deemed to be relevant to our inquiry including, but not limited to, the past and current business operations of the Company and the financial condition and future prospects and operations of the Company. |

We did not perform a precedent transaction analysis because we were unable to find precedent transactions with publicly available financial information that we deemed to be sufficiently comparable to the Merger. With your consent, we have assumed and relied upon the accuracy and completeness of all information supplied by or on behalf of the Company or otherwise reviewed by or discussed with us, and we have undertaken no duty or responsibility to, nor did we, independently verify any of such information. At the direction of the Company, we have assumed and relied upon, without independent verification, that the Company has approximately 42 million Common Shares on a fully diluted basis. We have not made or obtained an independent appraisal of the assets or liabilities (contingent or otherwise) of the Company. With respect to the Projections and any other information and data provided to or otherwise reviewed by or discussed with us, we have, with your consent, assumed that the Projections and such other information and data have been reasonably prepared in good faith on bases reflecting the best currently available estimates and judgments of management of the Company, and we have relied upon the Company to advise us promptly if any information previously provided became inaccurate or was required to be updated during the period of our review. We express no opinion with respect to the Projections or the assumptions on which they are based. We have relied upon and assumed that the final form of the Agreement will be substantially similar to the draft reviewed by us in all respects material to our analysis, and that the Merger will be consummated in accordance with the terms of the Agreement without waiver or amendment of any conditions thereto. Furthermore, we have assumed, in all respects material to our analysis, that the representations and