Company: CIO
Filing Date: 2025-09-08
Form Type: DEFM14A
Source: 0001193125-25-198418
Chunk: 281

Company: City Office REIT, Inc.
Filing Date: 2025-09-08
Form: DEFM14A
Chunk 281
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 nor does it constitute a recommendation to any holder of Company Common Stock as to how such holder should vote or act with respect to any aspect of the Merger or any matter related thereto. This opinion has been approved by the Fairness Committee of Jones Lang LaSalle Securities LLC, an affiliate of Jones Lang LaSalle Americas, Inc.in accordance with our customary practice. Based upon and subject to the foregoing and such other matters as we consider relevant, we are of the opinion that, as of the date hereof, the Consideration to be paid in the Merger to the holders of the Company Common Stock (other than shares of Company Common Stock held by any direct or indirect wholly owned subsidiary of Parent, Merger Sub or any wholly owned subsidiary of the Company immediately prior to the Effective Time) is fair, from a financial point of view, to such holders of Company Common Stock.

| Very truly yours,                  |
| JONES LANG LASALLE SECURITIES, LLC |
| JONES LANG LASALLE SECURITIES, LLC |

B-4

ANNEX C July 23, 2025 Board of Directors City Office REIT, Inc. Suite 3210 – 666 Burrard Street Vancouver, BC V6C 2X8 CA Members of the Board of Directors: We understand that MCME Carell Holdings, LP (“Parent”), a portfolio company of MCM (as defined below), MCME Carell Merger Sub, LLC, a wholly owned subsidiary of Parent (“Merger Sub”, and together with Parent, the “Parent Parties”), and City Office REIT, Inc. (the “Company”), propose to enter into the Agreement (as defined below) pursuant to which, among other things, the Company will be merged with and into Merger Sub (the “Merger”) and that, in connection with the Merger, (i) each issued and outstanding share of common stock, par value $0.01 per share, of the Company (the “Common Shares”), other than the Excluded Shares (as defined below), shall be converted into the right to receive $7.00 per share in cash (the “Merger Consideration”), (ii) each issued and outstanding share of 6.625% Series A Cumulative Redeemable Preferred Stock of the Company, par value $0.01 per share (a “Preferred Share”), shall be redeemed by the Company for an amount in cash equal to $25.00 per Preferred Share, plus all accrued and unpaid distributions (whether or