Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 130

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 130
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 Recommendation Except in the circumstances and pursuant to the procedures described below, neither the Board nor any committee thereof will:

| • |     | withdraw, change, amend, modify or qualify, or otherwise publicly propose to withdraw, change, amend, modify or                          
 qualify, in a manner adverse to Parent, its recommendation that the Common Stockholders approve the Merger (the “Board Recommendation”); |

| • |     | adopt, approve, endorse or recommend, or publicly propose to adopt, approve, endorse or recommend, any 
 Acquisition Proposal;                                                                                  |

| • |     | if an Acquisition Proposal has been publicly disclosed, fail to publicly recommend against any such Acquisition                                                                                                                                          
 Proposal within five Business Days after Parent’s written request that the Company or the Board do so (or subsequently withdraw, change, amend, modify or qualify (or publicly propose to do so), in a manner adverse to Parent, such rejection of       
 such Acquisition Proposal) and reaffirm the Board Recommendation within such five Business Day period (or, with respect to any Acquisition Proposals or material amendments, revisions or changes to the terms of any such previously publicly disclosed 
 Acquisition Proposal that are publicly disclosed within the last five Business Days prior to the then-scheduled meeting, fail to take the actions referred to in this bullet);                                                                           |

| • |     | within 10 Business Days of a tender or exchange offer relating to securities of the Company having been 
 commenced, fail to publicly recommend against such tender or exchange offer;                            |

| • |     | fail to include the Board Recommendation in the Proxy Statement; |

| • |     | cause or permit us or our subsidiaries to enter into any Alternative Acquisition Agreement; or |

| • |     | resolve, agree or propose to take any such actions |

We refer to any action in the first five bullets above as an “Adverse Recommendation Change.” Superior Proposal Prior to obtaining the required Company Stockholder Approval, if we have received an unsolicited written bona fide acquisition proposal after the date of the Merger Agreement that did not result from a breach of our obligations under the section entitled “-NoSolicitation of Acquisition Proposals” or under this section “-Obligation of Our Board of Directors with Respect to Its Recommendation,” the Board will be permitted to (A) cause us to, and we will be permitted to, terminate the Merger Agreement in accordance with its terms to concurrently enter into a definitive Alternative Acquisition Agreement providing for the implementation of such acquisition proposal and/or (B) make any adverse recommendation change, if and