Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 73

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 73
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 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 fully understand the financial analyses performed by JLL
Securities, the tables must be read together with the text of each summary. The tables alone do not give a complete description of the financial analyses performed by JLL Securities. Considering the data set forth in the tables below without
considering the full narrative description of the financial analyses, including the methodologies and assumptions underlying the analyses, could create a misleading or incomplete view of the financial analyses performed by J