Document:

Form of Registration Rights Agreement

 Exhibit 10.6 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT is entered into as of [—] by and among City Office
REIT, Inc., a Maryland corporation (the “Company”), and the holders listed on Schedule I hereto (each an “Initial Holder” and, collectively, the “Initial Holders”). 

RECITALS 
 WHEREAS, in
connection with the initial public offering (the “IPO”) of shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), the Company and City Office REIT Operating Partnership, L.P., a
Maryland limited partnership (the “Operating Partnership”), have concurrently engaged in certain formation transactions (the “Formation Transactions”), pursuant to which the Initial Holders have concurrently
received, in exchange for their respective interests in the entities participating in the Formation Transactions, shares of Common Stock or common units of limited partnership interest in the Operating Partnership (“Common OP
Units”), which may be redeemable for cash or, at the Company’s option, exchangeable for shares of Common Stock pursuant to the Operating Partnership Agreement; 

WHEREAS, in connection with the Formation Transactions, the Company has agreed to grant to the Initial Holders and their permitted assignees
and transferees the registration rights set forth in Article II hereof. 
 NOW, THEREFORE, in consideration of the premises and the
mutual agreements herein contained, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS

 SECTION 1.1 Definitions. In addition to the definitions set forth above, the following terms, as used herein, have the
following meanings: 
 “Affiliate” of any Person means any other Person directly or indirectly controlling or controlled by
or under common control with such Person. For the purposes of this definition, “control” when used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of such Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agreement” means this Registration Rights Agreement, as it may be amended, supplemented or restated from time to time. 

“Beneficially Own.” A Person shall be deemed to “Beneficially Own” securities if such Person is deemed to be
a “beneficial owner” within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the date of this Agreement. 

“Board” means the board of directors of the Company. 

  
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 “Business Day” means any day except a Saturday, Sunday or other day on which
commercial banks in New York, New York are authorized by law to close. 
 “Charter” means the Articles of Amendment and
Restatement of the Company as filed with the Secretary of State of the State of Maryland on [—], as the same may be amended, modified or restated from time to time. 

“Commission” means the Securities and Exchange Commission. 

“Common OP Units” has the meaning set forth in the Recitals. 

“Common Stock” has the meaning set forth in the Recitals. 

“Company” has the meaning set forth in the Preamble. 

“Demand” has the meaning set forth in Section 2.1(a). 

“Demand Registration” has the meaning set forth in Section 2.1(a). 

“Demand Registration Statement” has the meaning set forth in Section 2.1(a). 

“Disadvantageous Condition” has the meaning set forth in Section 2.1(b). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “Holder” means (i) any Initial Holder who is the record or beneficial owner of any Registrable Security or
(ii) any assignee or transferee of such Initial Holder (including assignments or transfers of Registrable Securities to such assignees or transferees as a result of the foreclosure on any loans secured by such Registrable Securities)
(x) to the extent permitted under the Operating Partnership Agreement or the Charter, as applicable, and (y) provided such assignee or transferee agrees in writing to be bound by all the provisions hereof. 

“Indemnified Party” has the meaning set forth in Section 2.11. 

“Indemnifying Party” has the meaning set forth in Section 2.11. 

“Initial Holder” has the meaning set forth in the Preamble. 

“Inspectors” has the meaning set forth in Section 2.7(a)(viii). 

“IPO” has the meaning set forth in the Recitals. 

“Issuer Free Writing Prospectus” means an issuer free writing prospectus, as defined in Rule 433 under the Securities
Act. 
 “FINRA” has the meaning set forth in Section 2.7(a)(xviii). 

  
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 “Formation Transactions” has the meaning set forth in the Recitals. 

“Losses” has the meaning set forth in Section 2.9. 

“Minimum Registration Amount” means not less than the number of shares of Registrable Securities that represent 5% of the
Common Stock outstanding on the date thereof. 
 “Notice and Questionnaire” means a written notice, substantially in the
form attached as Exhibit A , delivered by a Holder to the Company (i) notifying the Company of such Holder’s desire to include Registrable Securities held by it in a Shelf Registration Statement, (ii) containing all
information about such Holder required to be included in such registration statement in accordance with applicable law, including Item 507 of Regulation S-K promulgated under the Securities Act, as amended from time to time, or any similar
successor rule thereto, and (iii) pursuant to which such Holder agrees to bound by the terms and conditions hereof. 
 “NYSE”
means the New York Stock Exchange, or any successor exchange thereto. 
 “Operating Partnership” has the meaning set forth
in the Recitals. 
 “Operating Partnership Agreement” means the Amended & Restated Agreement of Limited
Partnership of the Operating Partnership, dated as of [—], as the same may be amended, modified or restated from time to time. 

“Person” means an individual or a corporation, partnership, limited liability company, association, trust, or any other
entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 
 “Piggy-Back
Registration” has the meaning set forth in Section 2.2(a). 
 “Records” has the meaning set forth in
Section 2.7(a)(viii). 
 “Registrable Securities” means with respect to any Holder, shares of Common Stock owned,
either of record or beneficially, by such Holder that were issued in the Formation Transactions or issued or issuable upon exchange of Common OP Units issued in the Formation Transactions and any additional shares of Common Stock issued as a
dividend or distribution on, in exchange for, or otherwise in respect of, such shares (including as a result of combinations, recapitalizations, mergers, consolidations, reorganizations or otherwise). 

As to any particular Registrable Securities, they shall cease to be Registrable Securities at the earliest time as one of the following shall
have occurred: (i) a registration statement (including a Shelf Registration Statement) covering such shares has been declared effective by the Commission and all such shares have been disposed of pursuant to such effective registration
statement or unless such shares (other than Restricted Shares) were issued pursuant to an effective registration statement, (ii) such shares have been publicly sold under Rule 144, (iii) all such shares may be sold in one transaction
pursuant to Rule 144 or (iv) such shares have been otherwise transferred in a transaction that constitutes a sale thereof under the Securities Act, the Company has delivered to the Holder’s transferee a new certificate or other
evidence of 

  
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ownership for such shares not bearing the Securities Act restricted stock legend and such shares subsequently may be resold or otherwise transferred by such transferee without registration under
the Securities Act. 
 “Registration Expenses” has the meaning set forth in Section 2.8. 

“Restricted Shares” means shares of Common Stock issued under a Shelf Registration Statement which if sold by the holder
thereof would constitute “restricted securities” as defined under Rule 144. 
 “Rule 144” means
Rule 144 promulgated under the Securities Act, as amended from time to time, or any similar successor rule thereto that may be promulgated by the Commission. 

“Rule 415” means Rule 415 promulgated under the Securities Act, as amended from time to time, or any similar successor rule
that may be promulgated by the Commission. 
 “Securities Act” means the Securities Act of 1933, as amended (together with
the rules and regulations promulgated thereunder). 
 “Selling Holder” means a Holder who is selling Registrable Securities
pursuant to a registration statement under the Securities Act pursuant to the terms hereof. 
 “Shelf Registration” has the
meaning set forth in Section 2.4(a). 
 “Shelf Registration Statement” has the meaning set forth in
Section 2.4(a). 
 “Suspension Notice” means any written notice delivered by the Company pursuant to Section 2.15
with respect to the suspension of rights under a Shelf Registration Statement or any prospectus contained therein. 

“Underwriter” means a securities dealer who purchases any Registrable Securities as principal and not as part of such
dealer’s market-making activities. 
 ARTICLE II 

REGISTRATION RIGHTS 

SECTION 2.1 Underwritten Demand Registration. 

(a) Commencing on or after the date that is 365 days after the consummation date of the IPO, any Holder or Holders may make a written
request to the Company (a “Demand”) for registration of an underwritten offering under the Securities Act of all or part of its or their Common Stock constituting Registrable Securities that in the aggregate equals or is greater
than the Minimum Registration Amount (a “Demand Registration”). The Company shall prepare and file a registration statement on an appropriate form with respect to any Demand Registration (the “Demand Registration
Statement”). Any request for a Demand Registration will specify (i) the aggregate number of Registrable Securities requested to be registered in such Demand Registration, (ii) the intended method of disposition in connection with
such Demand 

  
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Registration, to the extent then known, and (iii) the identity of the Holder (or Holders). Within five days after receipt of a Demand, the Company shall give written notice of such Demand to
any other Person that, on the date such Demand is delivered to the Company, is a Holder. Subject to Section 2.3, the Company shall include in the Demand Registration covered by such Demand all Registrable Securities with respect to which the
Company has received a written request for inclusion therein within five days after such notice by the Company has been given. Such written request shall comply with the requirements of a Demand as set forth in this Section 2.1(a). The Company
will, subject to the terms of this Agreement, use its commercially reasonable efforts to effect the registration under the Securities Act of: (i) the Registrable Securities that the Company has been so requested to register by the Holder or
Holders for disposition in accordance with the intended method of disposition stated in such Demand; (ii) all other Registrable Securities that the Company has been requested to register by any Holders pursuant to this Section 2.1(a); and
(iii) all other shares of Common Stock that the Company may elect to register in connection with any offering of Registrable Securities pursuant to this Section 2.1, but subject to Section 2.3. Unless the Holders participating in such
Demand Registration that hold a majority of the Registrable Securities included in such Demand Registration shall consent in writing, no party, other than the Company, shall be permitted to offer securities in connection with any such Demand
Registration. The Company shall not be obligated to effect more than one Demand Registration. 
 (b) The Company shall not be obligated to
effect any Demand Registration (A) within three months of a “firm commitment” underwritten offering in which all of the Holders were given the opportunity to exercise “piggyback” rights pursuant to Section 2.2(a)
(provided that at least 50% of the number of Registrable Securities requested by such Holders to be included in such Demand Registration were included), (B) within three months of any other underwritten offering pursuant to Sections 2.2(a) or
(C) so long as a Shelf Registration Statement is on file and effective. In addition, the Company shall be entitled to postpone (upon written notice to all Holders) for a reasonable period of time not to exceed 30 days in succession the filing
or the effectiveness of a registration statement for any Demand Registration (but no more than twice, or for more than 60 days in the aggregate, in any twelve-month period) if the Board determines in good
faith and in its reasonable judgment that the filing or effectiveness of the registration statement relating to such Demand Registration could cause the disclosure of (i) material, non-public information
that the Company has a bona fide business purpose for preserving as confidential, (ii) a significant business opportunity (including a potential acquisition or disposition of assets (other than in the ordinary course of business) or any merger,
consolidation, share exchange, tender offer or other similar transaction) available to the Company that the Board reasonably determines to be significantly disadvantageous for the Company to disclose or (iii) any other event or condition of
similar significance to the Company that the Board reasonably determines to be significantly disadvantageous for the Company to disclose and that the Company is not otherwise required to disclose at such time (each of the conditions in (i),
(ii) and (iii), a “Disadvantageous Condition”), and the Company shall furnish to the Holders a notice stating that the Company is deferring such registration pursuant to this Section 2.1(b) and an approximation of the
anticipated duration of the delay. In the event of a postponement by the Company of the filing or effectiveness of a registration statement for a Demand Registration due to a Disadvantageous Condition, the Holder(s) shall have the right to withdraw
such Demand in accordance with Section 2.6. 

  
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 (c) A registration requested by the Holder(s) under Section 2.1(a) will not count as a
Demand Registration unless and until the registration statement related to such request has been declared effective by the Commission. 

(d) The Company shall select the book-running managing Underwriter in connection with any Demand Registration. The Company may select any
additional investment banks and managers to be used in connection with the offering. 
 SECTION 2.2 Piggy-Back Registration.

 (a) Subject to the terms and conditions hereof, if the Company proposes to register any Common Stock for its own account or for the
account of others at any time following the first anniversary of the IPO (other than (i) on a registration statement on Form S-4 or S-8 (or any substitute form
that may be adopted by the Commission) or (ii) in connection with an exchange offer or offering of securities solely to the Company’s existing securityholders), then the Company shall give written notice of such proposed filing to the
Holders as soon as practicable; such notice shall specify, at a minimum, the number of equity securities proposed to be registered, the proposed date of filing of such registration statement with the Commission, the proposed means of distribution
and the proposed managing underwriter or underwriters (if any and if known) and offer such Holders the opportunity to register such number of shares of Registrable Securities as each such Holder may request (a “Piggy-Back
Registration”); provided, that if and so long as a Shelf Registration Statement is on file and effective, then the Company shall have no obligation to effect a Piggy-Back Registration. The Company, subject to the terms and conditions
of this Agreement, shall use its commercially reasonable efforts to cause the managing Underwriter(s) of a proposed underwritten offering to permit the Registrable Securities equal to or greater than the Minimum Registration Amount held by the
Holders requested to be included in a Piggy-Back Registration to be included on the same terms and conditions as any equity securities of the Company included therein. Participation in a Piggy-Back Registration as provided in this Section 2.2
shall not count as a Demand Registration for purposes of Section 2.1. 
 (b) In connection with any Piggy-Back Registration under this
Section 2.2 for the Company’s account, the Company shall not be required to include a Holder’s Registrable Securities in the Piggy-Back Registration unless such Holder accepts the terms of the underwriting as agreed upon between the
Company and the underwriters selected by the Company. 
 (c) If, at any time after giving written notice of its intention to register any of
its equity securities as set forth in this Section 2.2 and prior to the time the registration statement filed in connection with such Piggy-Back Registration is declared effective, the Company shall determine for any reason not to register such
equity securities, the Company may, at its election, give written notice of such determination to each Holder and thereupon shall be relieved of its obligation to register any Registrable Securities in connection with such particular withdrawn or
abandoned Piggy-Back Registration (but not from its obligation to pay the Registration Expenses (as defined below) in connection therewith as provided herein); provided that the Holder may continue the registration as a Demand Registration
pursuant to the terms of Section 2.1. 

  
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 SECTION 2.3 Reduction of Offering. Notwithstanding anything contained in Sections 2.1
and 2.2, if the managing Underwriter(s) of an offering described in Section 2.1 or 2.2 advise in writing the Company and the Selling Holders that the size of the intended offering is such that the success of the offering or price per share of
the securities to be sold would be adversely affected by inclusion of the Registrable Securities requested to be included by the Selling Holders and the Company, then: (x) in the case of a Demand Registration, the amount of the Common Stock to
be offered for the account of the Company shall be reduced to the extent necessary to reduce the total amount of securities to be included in such offering to the amount recommended by such managing Underwriter(s), provided that the amount of
securities to be offered by the Company shall not be reduced to less than fifty (50) percent of the total number of securities to be included in such offering; and (y) in the case of a Piggy-Back Registration, the amount of securities to
be offered for the accounts of Selling Holders shall be reduced to the extent necessary to reduce the total amount of securities to be included in such offering to the amount recommended by such managing Underwriter(s), provided that the
amount of securities to be offered by the Selling Holders shall not be reduced to less than thirty (30) percent of the total number of securities to be included in such offering. 

SECTION 2.4 Shelf Registration. 

(a) Subject to Section 2.15, and further subject to the availability to the Company of a Registration Statement on Form S-3 or a
successor form, the Company shall prepare and file, not later than 365 days after the consummation date of the IPO, a “shelf” registration statement with respect to the resale of the Registrable Securities (“Shelf
Registration”) by the Holders thereof on an appropriate form for an offering to be made on a delayed or continuous basis pursuant to Rule 415 under the Securities Act (“Shelf Registration Statement”) and permitting
registration of such Registrable Securities for resale by such Holders in accordance with the methods of distribution elected by the Holders and set forth in the Shelf Registration Statement. The Company shall use its reasonable efforts to cause the
Shelf Registration Statement to be declared effective by the Commission as promptly as reasonably practicable after the filing thereof, and, subject to Sections 2.4(c) and 2.15, to keep such Shelf Registration Statement continuously effective for a
period ending when the Holders, together, Beneficially Own less than a Minimum Registration Amount. 
 At the time the Shelf Registration
Statement is declared effective, each Holder that has delivered a duly completed and executed Notice and Questionnaire to the Company on or prior to the date ten (10) Business Days prior to such time of effectiveness shall be named as a selling
securityholder in the Shelf Registration Statement and the related prospectus in such a manner as to permit such Holder to deliver such prospectus to purchasers of Registrable Securities in accordance with applicable law. 

(b) Any offering under a Shelf Registration Statement shall be underwritten at the written request of Holders of Registrable Securities under
such registration statement that hold in the aggregate at least 10% of the Registrable Securities originally issued in the Formation Transactions (provided that the number of Registrable Securities requested to be registered in such
underwritten offering equals or is greater than the Minimum Registration Amount; provided further that the Company shall not be obligated to effect more than one underwritten offering under this Section 2.4(b) and
Section 2.1(a), taken together; and provided further that the 

  
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Company shall not be obligated to effect, or take any action to effect, an underwritten offering (i) within 120 days following the last date on which an underwritten offering was effected
pursuant to this Section 2.4(b) or Section 2.1(a) or during any lock-up period required by the underwriters in any prior underwritten offering conducted by the Company on its own behalf or on behalf of selling stockholders, or
(ii) during the period commencing with the date thirty (30) days prior to the Company’s good faith estimate of the date of filing of, and ending on a date ninety (90) days after the effective date of, a registration statement
with respect to an offering by the Company (provided that the Company is actively engaged in good faith commercially reasonable efforts to file such registration statement). Any request for an underwritten offering hereunder shall be made to
the Company in accordance with the notice provisions of this Agreement. 
 (c) The Company shall prepare and file such additional
registration statements as necessary every three (3) years and use its reasonable efforts to cause such registration statements to be declared effective by the Commission so that a Shelf Registration Statement remains continuously effective,
subject to Section 2.15, with respect to resales of Registrable Securities as and for the periods required under Section 2.4(a) (such subsequent registration statements to constitute a Shelf Registration Statement hereunder). 

(d) Each Holder acknowledges that by participating in its registration rights pursuant to this Agreement, such Holder will be deemed a party
to this Agreement and will be bound by its terms, notwithstanding such Holder’s failure to deliver a Notice and Questionnaire; provided that any Holder that has not delivered a duly completed and executed Notice and Questionnaire shall
not be entitled to be named as a Selling Holder in, or have the Registrable Securities held by it covered by, a Shelf Registration Statement. 

SECTION 2.5 Reduction of Offering Under a Shelf Registration. Notwithstanding anything contained herein, if the managing
Underwriter(s) of an offering described in Section 2.4(b) advise in writing the Company and the Holder(s) of the Registrable Securities included in such offering that the size of the intended offering is such that the success of the offering or
price per share of the securities to be sold would be adversely affected by inclusion of all the Registrable Securities requested to be included, then the amount of securities to be offered for the accounts of Holders shall be reduced pro
rata (according to the Registrable Securities requested for inclusion) to the extent necessary to reduce the total amount of securities to be included in such offering to the amount recommended by such managing Underwriter(s) but in priority to
any securities proposed to be sold by any other holders of securities of the Company with registration rights to participate therein. The Company shall have the opportunity to include such number of securities as it may elect in an offering
described in Section 2.4(b); provided that if the managing Underwriter(s) of such offering advise in writing the Company and the Holder(s) of the Registrable Securities requested to be included that the success of the offering would be
adversely affected by inclusion of all the securities requested to be included by the Company, then the amount of securities to be offered for the account of the Company shall be reduced to the extent necessary to reduce the total amount of
securities to be included in such offering to the amount recommended by such managing Underwriter(s); provided further that the amount of securities to be offered by the Company shall not be reduced to less than fifty (50) percent of the
total number of securities to be included in such offering. 

  
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 SECTION 2.6 Withdrawal Rights. Any Holder, after notifying or directing the Company
to include any or all of its Registrable Securities in a registration statement under the Securities Act, shall have the right to withdraw any such notice or direction with respect to any or all of the Registrable Securities designated by it for
registration by giving written notice to such effect to the Company prior to the effective date of such registration statement. In the event of any such withdrawal, the Company shall not include such Registrable Securities in the applicable
registration and such Registrable Securities shall continue to be Registrable Securities for all purposes of this Agreement. No such withdrawal shall affect the obligations of the Company with respect to the Registrable Securities not so withdrawn;
provided, however, that in the case of a Demand Registration, if such withdrawal shall reduce the number of Registrable Securities sought to be included in such registration below the Minimum Registration Amount, then the Company shall
as promptly as practicable give each Holder of Registrable Securities sought to be registered notice to such effect and, within ten days following the mailing of such notice, such Holder, if still seeking registration, shall by written notice to the
Company elect to register additional Registrable Securities to satisfy the Minimum Registration Amount or elect that such registration statement not be filed or, if previously filed, be withdrawn. During such 10 day period, the Company shall not
file such registration statement if not previously filed or, if such registration statement has been previously filed, the Company shall not seek, and shall use commercially reasonable efforts to prevent, the effectiveness of such registration
statement. 
 SECTION 2.7 Registration Procedures. 

(a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities
under the Securities Act as provided in Section 2.1, 2.2 or 2.4, the Company shall as promptly as practicable (in each case, to the extent applicable): 

(i) prepare and file with the Commission a registration statement to effect such registration, cause such registration
statement to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use commercially reasonable efforts to cause such registration statement to remain effective pursuant to the
terms of this Agreement; provided, however, that the Company may discontinue any registration of its securities that are not Registrable Securities at any time prior to the effective date of the registration statement relating to such
securities; provided further that before filing such registration statement or any amendments thereto, the Company will furnish to the counsel selected by the Selling Holders copies of all such documents proposed to be filed, which
documents will be subject to the review of and comment by such counsel (it being understood that counsel to the Selling Holders will conduct its review and provide any comments promptly); 

(ii) prepare and file with the Commission such amendments (including post-effective
amendments) and supplements to such registration statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may be necessary to keep such registration statement effective and to comply
with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods
of 

  
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disposition by the Selling Holder(s) set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 2.1, the expiration of 60 days after
such registration statement becomes effective or (ii) in the case of a Piggy-Back Registration pursuant to Section 2.2, the expiration of 60 days after such registration statement becomes effective; 

(iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such
number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each
preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such number of copies of any Issuer Free Writing
Prospectus and such other documents as such Selling Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such Selling Holder; provided,
however, that no reports or documents need to be furnished to the extent they have been filed with the Commission and are publicly available on the Commission’s Electronic Data Gathering, Analysis and Retrieval system or any successor
system. 
 (iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such
registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which
may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such
purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such
jurisdiction or to file a general consent to service of process in any such jurisdiction; 
 (v) use best efforts to cause
such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities
to be listed on the NYSE or the Nasdaq Stock Market; 
 (vi) use commercially reasonable efforts to cause such Registrable
Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable
Securities; 

  
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 (vii) in connection with an underwritten offering, obtain for each underwriter:

 (1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten
offerings and such other matters as may be reasonably requested by such underwriters, and 
 (2) a “comfort”
letter signed by the independent registered public accountants who have certified the Company’s financial statements included in such registration statement (and, if necessary, any other independent registered public accountant of any
subsidiary of the Company or any business acquired by the Company from which financial statements and financial data are, or are required to be, included in the registration statement); 

(viii) promptly make available for inspection by any Selling Holder, any underwriter participating in any disposition pursuant
to any registration statement, and any attorney, accountant or other agent or representative retained by any Selling Holder or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate
documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable such Selling Holder or underwriter to exercise their due diligence responsibility, and cause the Company’s
officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement promptly; provided, however, that, unless the disclosure of such Records is necessary to avoid
or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information
under this clause (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was
applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing with the Commission or documents provided supplementally
or otherwise or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such Selling
Holder agrees, and causes each of the Inspectors to agree, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided further that each of the Selling Holders agree that it will, upon learning that
disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent disclosure of the Records deemed confidential; 

(ix) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events: 

(1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free
Writing Prospectus or post-effective amendment to the registration statement, and, with respect to the registration statement or any post-effective amendment thereto,
when the same has become effective; 

  
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 (2) any request by the Commission for amendments or supplements to the
registration statement or the prospectus or for additional information; 
 (3) the issuance by the Commission of any stop
order suspending the effectiveness of the registration statement or the initiation of any proceedings by any Person for that purpose; 

(4) when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the
registration statement; and 
 (5) the receipt by the Company of any notification with respect to the suspension of the
qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose; 

(x) notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities
Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such Selling Holder a
reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

(xi) use every reasonable best effort to obtain the withdrawal of any order suspending the effectiveness of such registration
statement; 
 (xii) use commercially reasonable efforts to comply with all applicable rules and regulations of the
Commission, and make available to the Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the first day of the Company’s first full
quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 of the Commission promulgated thereunder (or any successor rule or
regulation hereafter adopted by the Commission); 
 (xiii) cooperate with the Selling Holders and any underwriter to
facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary or appropriate, representing securities sold under any registration statement, and
enable such securities to be in such 

  
 12 

 
denominations and registered in such names as the managing underwriter or such Selling Holder may request and keep available and make available to the Company’s transfer agent prior to the
effectiveness of such registration statement a supply of such certificates as necessary or appropriate; 
 (xiv) have
appropriate officers of the Company prepare and participate in customary “road shows” as requested by the managing underwriter(s); 

(xv) have appropriate officers of the Company, and cause representatives of the Company’s independent registered public
accountants to, participate in any due diligence discussions reasonably requested by any Selling Holder or any underwriter; 

(xvi) if requested by any underwriter, agree, and cause the Company, any directors or officers of the Company to agree, to be
bound by customary “lock-up” agreements restricting the ability to dispose of Company securities; 

(xvii) if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any
prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request to have included therein, including, without limitation,
information relating to the “Plan of Distribution” of the Registrable Securities; 
 (xviii) cooperate and assist
in any filings required to be made with the Financial Industry Regulatory Authority (“FINRA”) and in the performance of any due diligence investigation by any underwriter that is required to be undertaken in accordance with the
rules and regulations of FINRA; 
 (xix) otherwise use commercially reasonable efforts to cooperate as reasonably requested
by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities; 
 (xx)
otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and all reporting requirements under the rules and regulations of the Exchange Act; and 

(xxi) use commercially reasonable efforts to take any action requested by the Selling Holders, including any action described
in clauses (i) through (xx) above to prepare for and facilitate any “over-night deal” or other proposed sale of Registrable Securities over a limited time frame. 

The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling Holder or
underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement. 

(b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through an
underwriter, the Company shall enter into 

  
 13 

 
an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the
covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering of
Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the Selling Holder), unlegended certificates representing ownership of the Registrable Securities being sold
(unless, in the Company’s sole discretion, such Registrable Securities are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations as requested, and instruct any
transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto. 
 Each Selling Holder agrees that upon
receipt of any notice from the Company of the happening of any event of the kind described in Section 2.7(a)(x), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the
applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 2.7(a)(ix) and, if so directed by the Company, deliver to
the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the
event the Company shall give such notice, any applicable 60 day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving
of a notice regarding the happening of an event of the kind described in Section 2.7(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the
Commission. 
 SECTION 2.8 Registration Expenses. In connection with any registration statement required to be filed hereunder,
the Company shall pay the following registration expenses incurred in connection with the registration hereunder (the “Registration Expenses”), regardless of whether such registration statement is declared effective by the
Commission: (i) all registration and filing fees, (ii) fees and expenses of compliance with securities or “blue sky” laws (including reasonable fees and disbursements of counsel in connection with blue sky qualifications of the
Registrable Securities), (iii) all fees and expenses associated with filings required to be made with FINRA (including, if applicable, the fees and expenses of any “qualified independent underwriter” as such term is defined in FINRA
Rule 5121), (iv) printing expenses, (v) internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), (vi) the fees and expenses incurred in
connection with the listing of the Registrable Securities, (vii) reasonable fees and disbursements of counsel for the Company and customary fees and expenses for independent certified public accountants retained by the Company, (viii) all
fees and disbursements of the Company’s auditors, including in connection with the preparation of comfort letters, and any transfer agent and registrar fees, (ix) the reasonable fees and expenses of any special experts retained by the
Company in connection with such registration and (x) any expenses described in clauses (i) through (ix) above incurred in connection with the marketing and sale of Registrable Securities. The Company shall have no obligation to pay
any fees, discounts or commissions attributable to the sale of Registrable Securities, or any out-of-pocket expenses of the Holders (or the agents who manage their accounts) or any transfer taxes relating to the registration or sale of the
Registrable Securities. 

  
 14 

 SECTION 2.9 Indemnification by the Company. The Company agrees to indemnify and hold
harmless each Selling Holder of Registrable Securities, its officers, directors, agents, partners, members, employees, managers, advisors, sub-advisors, attorneys, representatives and affiliates, and each Person, if any, who controls such Selling
Holder or such other indemnified Person within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against, as incurred, any and all losses, claims, damages, liabilities and expenses, or actions in
respect thereof (collectively, the “Losses”), that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the registration statement, or any amendment thereto, or the omission
or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading or upon any untrue statement or alleged untrue statement of a material fact contained in any Issuer Free
Writing Prospectus, any preliminary prospectus or any prospectus (or any amendment or supplement thereto) or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading, except insofar as Losses arise out of or are based upon any information furnished in writing to the Company by such Selling Holder or on such Selling Holder’s behalf expressly for
inclusion therein. 
 SECTION 2.10 Indemnification by Holders of Registrable Securities. In connection with any registration
statement, each Selling Holder agrees, severally but not jointly, to indemnify and hold harmless the Company, its officers, directors, agents, employees, attorneys, representatives and affiliates and each Person, if any, who controls the Company or
such other indemnified Person within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against all Losses caused by, resulting from or relating to (i) any untrue statement or alleged untrue statement of
a material fact contained in the registration statement, or any amendment thereto, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading or
(ii) upon any untrue statement or alleged untrue statement of a material fact contained in any Issuer Free Writing Prospectus, any preliminary prospectus or any prospectus (or any amendment or supplement thereto) or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, but, in each case, only to the extent that such untrue statement or omission is
caused by and contained in such information so furnished in writing by such Selling Holder expressly for use therein. Notwithstanding the foregoing, no Selling Holder shall be liable to the Company for amounts in excess of the net amount received by
such Selling Holder in the offering giving rise to such liability. 
 SECTION 2.11 Conduct of Indemnification Proceedings. In
case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 2.9 or 2.10, such person (an “Indemnified Party”) shall
promptly notify the person against whom such indemnity may be sought (an “Indemnifying Party”) in writing and the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory to
such Indemnified Party, and shall assume the payment of all fees and expenses; provided, however, that the failure of any 

  
 15 

 
Indemnified Party to give such notice will not relieve such Indemnifying Party of any obligations under Section 2.9, 2.10, 2.11 or 2.12, except to the extent such Indemnifying Party is
materially prejudiced by such failure. After notice from the Indemnifying Party to such Indemnified Party of its election so to assume the defense thereof, the Indemnifying Party will not (so long as it shall continue to have the right to defend,
contest, litigate and settle the matter in question in accordance with this paragraph) be liable to such Indemnified Party hereunder for any legal or other expense subsequently incurred by such Indemnified Party in connection with the defense
thereof other than reasonable costs of investigation, supervision and monitoring (unless (i) such Indemnified Party reasonably objects to such assumption on the grounds that there may be defenses available to it which are different from or in
addition to the defenses available to such Indemnifying Party or (ii) the Indemnifying Party shall have failed within a reasonable period of time to assume such defense and the Indemnified Party is or is reasonably likely to be prejudiced by
such delay; in either event the Indemnified Party shall be promptly reimbursed by the Indemnifying Party for the expenses incurred in connection with retaining one separate legal counsel). In any such proceeding, any Indemnified Party shall have the
right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel
or (ii) representation of the Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing interests between the Indemnified Party and the Indemnifying Party. It is understood
that the Indemnifying Party shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in addition to any local counsel)
at any time for all such Indemnified Parties, and that all such fees and expenses shall be reimbursed as they are incurred. In the case of any such separate firm for the Indemnified Parties, such firm shall be designated in writing by (i) in
the case of Persons indemnified pursuant to Section 2.9 hereof, the Selling Holders which owned a majority of the Registrable Securities sold under the applicable registration statement and (ii) in the case of Persons indemnified pursuant
to Section 2.10, the Company. The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written consent, which consent shall not be unreasonably withheld, but if settled with such consent, or if there
be a final judgment for the plaintiff, the Indemnifying Party shall indemnify and hold harmless such Indemnified Parties from and against any Losses (to the extent stated above) by reason of such settlement or judgment. No Indemnifying Party shall,
without the prior written consent of the Indemnified Party, which consent shall not be unreasonably withheld, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Party is or could have been a party and
indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability arising out of such proceeding without any admission of liability by such
Indemnified Party. 
 SECTION 2.12 Contribution. If the indemnification provided for in Section 2.9 or 2.10 hereof is held
by a court of competent jurisdiction to be unavailable to an Indemnified Party or insufficient in respect of any Losses that otherwise would have been covered by Section 2.9 or 2.10 hereof, then each such Indemnifying Party, in lieu of
indemnifying such Indemnified Party, shall contribute to the aggregate amount paid or payable by such Indemnified Party as a result of such Losses in such proportion as is appropriate to reflect the relative fault of the Company, on the one hand,
and of each Selling Holder, on the other hand, in connection with such statements or omissions which resulted in such Losses, as well as any other relevant 

  
 16 

 
equitable considerations. The relative fault of the Company, on the one hand, and of each Selling Holder, on the other, shall be determined by reference to, among other things, whether the untrue
or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by such party and by such parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. 
 The Company and the Selling Holders agree that it would not be just and equitable if
contribution pursuant to this Section 2.12 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable
considerations referred to in the immediately preceding paragraph. The amount paid or payable by an Indemnified Party as a result of the Losses referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations
set forth above, any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 2.12, no Selling Holder shall be
required to contribute any amount which in the aggregate exceeds the amount by which the net proceeds actually received by such Selling Holder from the sale of its securities to the public exceeds the amount of any damages which such Selling Holder
has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Selling Holder’s obligations to contribute pursuant to this Section 2.12, if any, are several in proportion to the proceeds of the
offering actually received by such Selling Holder to the total proceeds of the offering received by all the Selling Holders and not joint. 

SECTION 2.13 Rule 144. The Company covenants that it will (a) make and keep public information regarding the Company
available as those terms are defined in Rule 144, (b) file in a timely manner any reports and documents required to be filed by it under the Securities Act and the Exchange Act, (c) furnish to any Holder forthwith upon request
(i) a written statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time more than 90 days after the effective date of the registration statement for the Company’s initial public offering),
the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), and (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the
Company, and (d) take such further action as any Holder may reasonably request, all to the extent required from time to time to enable Holders to sell Registrable Securities without registration under the Securities Act within the limitation of
the exemptions provided by Rule 144. 
 SECTION 2.14 Participation in Underwritten Offerings. No Person may participate in
any underwritten offerings hereunder unless such Person (a) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and
(b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements and the registration rights provided for in this
Article II. 

  
 17 

 SECTION 2.15 Suspension of Use of Registration Statement. Notwithstanding anything to
the contrary contained in this Agreement, the Company shall be entitled, from time to time, by providing notice to the Holders who elected to participate in the Shelf Registration Statement, to require such Holders to suspend the use of the
prospectus for sales of Registrable Securities under the Shelf Registration Statement for a reasonable period of time not to exceed 60 days in succession or 90 days in the aggregate in any twelve month period (a “Suspension Period”)
if the Board determines in good faith and in its reasonable judgment that it is required to disclose in the Shelf Registration a Disadvantageous Condition. Immediately upon receipt of such notice, the Holders covered by the Shelf Registration
Statement shall suspend the use of the prospectus until the requisite changes to the prospectus have been made as required below. Any Suspension Period shall terminate at such time as the public disclosure of such information is made. After the
expiration of any Suspension Period and without any further request from a Holder, the Company shall as promptly as practicable prepare a post-effective amendment or supplement to the Shelf Registration Statement or the prospectus, or any document
incorporated therein by reference, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities included therein, the prospectus will not include an untrue statement of a material fact or omit to
state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

SECTION 2.17 Additional Shares. The Company, at its option, may register under a Shelf Registration Statement and any filings with
any state securities commissions filed pursuant to this Agreement, any number of unissued shares of Common Stock or any shares of Common Stock owned by any other stockholder or stockholders of the Company; provided that in no event shall the
inclusion of such shares on a registration statement reduce the amount offered for the account of the Holders in any underwritten offering at the request of the Holders pursuant to Section 2.4(b). 

ARTICLE III 

MISCELLANEOUS 

SECTION 3.1 Remedies. In addition to being entitled to exercise all rights provided herein and granted by law, including recovery
of damages, the Holders shall be entitled to specific performance of their rights under this Agreement. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions
of this Agreement and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 

SECTION 3.2 Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be
amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, in each case without the written consent of the Company and the Holders against whom enforcement is sought. No failure or delay by
any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon any breach thereof shall constitute waiver of any such breach or any other covenant,
duty, agreement or condition. 

  
 18 

 SECTION 3.3 Notices. All notices and other communications in connection with this
Agreement shall be made in writing by hand delivery, registered first-class mail, telecopier, or air courier guaranteeing overnight delivery: 

(i) if to any Holder, initially to the address indicated in such Holder’s Notice and Questionnaire or, if no Notice and
Questionnaire has been delivered, c/o City Office REIT, Inc., 1075 West Georgia Street, Suite 2600, Vancouver, British Columbia, V6E 3C9, Attention: Chief Executive Officer, or to such other address and to such other Persons as any Holder may
hereafter specify in writing; and 
 (ii) if to the Company, initially at 1075 West Georgia Street, Suite 2600, Vancouver,
British Columbia, V6E 3C9, Attention: Chief Executive Officer, or to such other address as the Company may hereafter specify in writing. 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; when
received if deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 

SECTION 3.4 Successors and Assigns; Assignment of Registration Rights. This Agreement shall inure to the benefit of and be binding
upon the successors, assigns and transferees of each of the parties. Any Holder may assign its rights under this Agreement without the consent of the Company in connection with a transfer of such Holder’s Registrable Securities; provided
that the Holder notifies the Company of such proposed transfer and assignment and the transferee or assignee of such rights assumes in writing the obligations of such Holder under this Agreement. 

SECTION 3.5 Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Each party shall become bound by this Agreement immediately upon affixing its signature
hereto. 
 SECTION 3.6 Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of
the State of New York, including, without limitation, Section 5-1401 of the New York General Obligations Law. 

SECTION 3.7 Submission to Jurisdiction. Any legal suit, action or proceeding arising out of or based upon this Agreement or the
transactions contemplated hereby shall be instituted in (i) the federal courts of the United States of America located in the City and County of New York, Borough of Manhattan or (ii) the courts of the State of New York located in the
City and County of New York, Borough of Manhattan (collectively, the “Specified Courts”), and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted in regard to the enforcement of a judgment of any
such court, as to which such jurisdiction is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, 

  
 19 

 
summons, notice or document by mail to such party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The
parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court that any
such suit, action or other proceeding brought in any such court has been brought in an inconvenient forum.  
 SECTION 3.8
Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject
matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with respect to the registration rights granted by the Company with respect to the Registrable Securities.
This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 

SECTION 3.9 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect
the meaning hereof. 
 SECTION 3.10 Termination. The obligations of the parties hereunder shall terminate, and be of no further
force and effect, with respect to each Holder, at such earlier time as such Holder ceases to Beneficially Own a Minimum Registration Amount, except, in each case, for any obligations under Sections 2.4(c), 2.8, 2.9, 2.10, 2.11, 2.12 and this
Article III. 
 SECTION 3.11 Waiver of Jury Trial. The parties hereto (including any Initial Holder and any subsequent
Holder) irrevocably waive any right to trial by jury. 
 [SIGNATURE PAGE FOLLOWS] 

  
 20 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written
above. 
  

					
	CITY OFFICE REIT, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	CIO OP LIMITED PARTNERSHIP
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	CIO REIT STOCK LIMITED PARTNERSHIP
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	GCC AMBERGLEN INVESTMENTS LP
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	GIBRALT US, INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	DANIEL RAPAPORT
	
	  

	Daniel Rapaport

 Schedule I 

Initial Holders 
  

	1.	CIO OP Limited Partnership 

  

	2.	CIO REIT Stock Limited Partnership 

  

	3.	GCC Amberglen Investments LP 

  

	4.	Gibralt US, Inc. 

  

	5.	Daniel Rapaport 

 Exhibit A 

CITY OFFICE REIT, INC. 

FORM OF NOTICE AND QUESTIONNAIRE 

The undersigned beneficial holder of shares of common stock, par value $.01 per share (“Common Stock”), of City Office REIT,
Inc. (the “Company”) and/or units of limited partnership interests (“OP Units” and, together with the Common Stock, the “Registrable Securities”) of City Office REIT Operating Partnership, L.P. (the
“Operating Partnership”) understands that the Company has filed or intends to file with the Securities and Exchange Commission (the “SEC”) one or more registration statements (collectively, the “Shelf
Registration Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities in accordance with the terms of the Registration
Rights Agreement (the “Registration Rights Agreement”), dated [—], among the Company and the holders listed on Schedule I thereto. A copy of the Registration Rights Agreement
is available from the Company upon request at the address set forth below. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement. 

Each beneficial owner of Registrable Securities is entitled to the benefits of the Registration Rights Agreement. In order to sell or
otherwise dispose of any Registrable Securities pursuant to the Shelf Registration Statement, a beneficial owner of Registrable Securities generally will be required to be named as a selling security holder in the related prospectus, deliver a
prospectus to purchasers of Registrable Securities and be bound by those provisions of the Registration Rights Agreement applicable to such beneficial owner (including certain indemnification provisions as described below). To be included in the
Shelf Registration Statement, this Notice and Questionnaire must be completed, executed and delivered to the Company at the address set forth herein on or prior to the tenth business day before the effectiveness of the Shelf Registration
Statement. We will give notice of the filing and effectiveness of the initial Shelf Registration Statement by issuing a press release and by mailing a notice to the holders at their addresses set forth in the register of the registrar. 

Beneficial owners that do not complete this Notice and Questionnaire and deliver it to the Company as provided below will not be named as
selling security holders in the prospectus and therefore will not be permitted to sell any Registrable Securities pursuant to the Shelf Registration Statement. Beneficial owners are encouraged to complete and deliver this Notice and Questionnaire
prior to the effectiveness of the initial Shelf Registration Statement so that such beneficial owners may be named as selling security holders in the related prospectus at the time of effectiveness. Upon receipt of a completed Notice and
Questionnaire from a beneficial owner following the effectiveness of the initial Shelf Registration Statement, in accordance with the Registration Rights Agreement, the Company will file such amendments to the initial Shelf Registration Statement or
additional shelf registration statements or supplements to the related prospectus as are necessary to permit such holder to deliver such prospectus to purchasers of Registrable Securities. 

Certain legal consequences arise from being named as selling security holders in the Shelf Registration Statement and the related prospectus.
Accordingly, holders and beneficial 

 
owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling security holder in the Shelf
Registration Statement and the related prospectus. 
 NOTICE 

The undersigned beneficial owner (the “Selling Security Holder”) of Registrable Securities hereby elects to include in the
prospectus forming a part of the Shelf Registration Statement the Registrable Securities beneficially owned by it and listed below in Item 3 (unless otherwise specified under Item 3). The undersigned, by signing and returning this Notice
and Questionnaire, understands that it will be bound by the terms and conditions of this Notice and Questionnaire and the Registration Rights Agreement. 

Pursuant to the Registration Rights Agreement, the undersigned has agreed to indemnify and hold harmless the Company and its directors,
officers and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against certain losses arising in connection with statements concerning
the undersigned made in the Shelf Registration Statement or the related prospectus in reliance upon the information provided in this Notice and Questionnaire. 

The undersigned hereby provides the following information to the Company and represents and warrants to the Company that such information is
accurate and complete: 
 QUESTIONNAIRE 
  

					
	1.	 	(a)	  	Full Legal Name of Selling Security Holder:
		 		  	  

			
		 	(b)	  	Full Legal Name of registered holder (if not the same as (a) above) through which Registrable Securities listed in Item 3 below are held:
		 		  	  

			
		 	(c)	  	Full Legal Name of DTC Participant (if applicable and if not the same as (b) above) through which Registrable Securities listed in Item 3 below are held:
		 		  	  

			
		 	(c)	  	List below the individual or individuals who exercise voting and/or dispositive powers with respect to the Registrable Securities listed in Item 3 below:
		 		  	  

		
	2.	 	Address for Notices to Selling Security Holder:
		 	  

		 	  

					
			
		 	Telephone:	  	  

					
			
		 	Fax:	  	  

					
			
		 	E-mail address:	  	  

			
		 	Contact Person:	  	  

					
		
	3.	 	Beneficial Ownership of Registrable Securities:
		
		 	Type of Registrable Securities beneficially owned, and number of shares of Common Stock and/or OP Units, as the case may be, beneficially owned:
		 	  

		
	4.	 	Beneficial Ownership of Securities of the Company Owned by the Selling Security Holder:
		
		 	Except as set forth below in this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company, other than the Registrable Securities listed above in
Item 3.
		
		 	Type and amount of other securities beneficially owned by the Selling Security Holder:
		 	  

		
	5.	 	Relationship with the Company
		
		 	Except as set forth below, neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (5% or more) has held any position or office or has had any other material relationship with
the Company (or its predecessors or affiliates) during the past three years.
		
		 	State any exceptions here:
		 	  

		 	  

		
	6.	 	Plan of Distribution
		
		 	Except as set forth below, the undersigned (including its donees or pledgees) intends to distribute the Registrable Securities listed above in Item 3 pursuant to the Shelf Registration Statement only as follows
and will not be offering any of such Registrable Securities pursuant to an agreement, arrangement or understanding entered into with a broker or dealer prior to the effective date of the Shelf Registration Statement. Such Registrable
Securities may be sold from time to time directly by the undersigned or, alternatively, through underwriters or broker-dealers or agents. If the Registrable Securities are sold through underwriters or broker-dealers, the Selling Security Holder will
be responsible for underwriting discounts or commissions or agent’s commissions. Such Registrable Securities may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of sale, at varying prices determined
at the time of sale, or at negotiated prices. Such sales may be effected in transactions (which may involve crosses or block transactions)
		
		 	(i) on any national securities exchange or quotation service on which the Registrable Securities may be listed or quoted at the time of sale;

					
		
		 	(ii) in the over-the-counter market;
		
		 	(iii) in transactions otherwise than on such exchanges or services or in the over-the-counter market; or
		
		 	(iv) through the writing of options
		
		 	In connection with sales of the Registrable Securities or otherwise, the undersigned may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the Registrable Securities and
deliver Registrable Securities to close out such short positions, or loan or pledge Registrable Securities to broker-dealers that in turn may sell such securities.
		
		 	State any exceptions here:
		 	  

		 	  

		
	Note:	 	In no event may such method(s) of distribution take the form of an underwritten offering of the Registrable Securities without the prior written agreement of the Company.

 ACKNOWLEDGEMENTS 

The undersigned acknowledges that it understands its obligation to comply with the provisions of the Securities Exchange Act of 1934, as
amended, and the rules thereunder relating to stock manipulation, particularly Regulation M thereunder (or any successor rules or regulations), in connection with any offering of Registrable Securities pursuant to the Registration Rights Agreement.
The undersigned agrees that neither it nor any person acting on its behalf will engage in any transaction in violation of such provisions. 

The Selling Security Holder hereby acknowledges its obligations under the Registration Rights Agreement to indemnify and hold harmless certain
persons set forth therein. Pursuant to the Registration Rights Agreement, the Company has agreed under certain circumstances to indemnify the Selling Security Holders against certain liabilities. 

In accordance with the undersigned’s obligation under the Registration Rights Agreement to provide such information as may be required by
law for inclusion in the Shelf Registration Statement, the undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the date hereof at any time while the Shelf
Registration Statement remains effective. All notices hereunder and pursuant to the Registration Rights Agreement shall be made in writing at the address set forth below. 

In the event that the undersigned transfers all or any portion of the Registrable Securities listed in Item 3 above after the date on
which such information is provided to the Company, the undersigned agrees to notify the transferee(s) at the time of transfer of its rights and obligations under this Notice and Questionnaire and the Registration Rights Agreement. 

By signing this Notice and Questionnaire, the undersigned consents to the disclosure of the information contained herein in its answers to
Items 1 through 6 above and the inclusion of such information in the Shelf Registration Statement and the related prospectus. The undersigned understands that such information will be relied upon by the Company in connection with the
preparation or amendment of the Shelf Registration Statement and the related prospectus. 
 Once this Notice and Questionnaire is executed
by the Selling Security Holder and received by the Company, the terms of this Notice and Questionnaire and the representations and warranties contained herein shall be binding on, shall inure to the benefit of and shall be enforceable by the
respective successors, heirs, personal representatives and assigns of the Company and the Selling Security Holder with respect to the Registrable Securities beneficially owned by such Selling Security Holder and listed in Item 3 above. 

This Notice and Questionnaire shall be governed by, and construed in accordance with, the laws of the State of New York. 

 IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Notice and
Questionnaire to be executed and delivered either in person or by its duly authorized agent. 
  

					
	Beneficial Owner
		
	By	 	  

		 	Name:	 	
		 	Title:	 	

 Dated: 

 Please return the completed and executed Notice and Questionnaire to: 

1075 West Georgia Street 
 Suite
2600 
 Vancouver, British Columbia, V6E 3C9 

Tel: (604) 806-3366 

Attention: Chief Executive OfficerForm of Tax Protection Agreement

 Exhibit 10.8 

TAX PROTECTION AGREEMENT 

Daniel Rapaport, GCC, Gibralt 

This TAX PROTECTION AGREEMENT (this “Agreement”) is entered into as of
            , 2014, by and among City Office REIT, Inc., a Maryland corporation (the “REIT”), City Office REIT Operating Partnership, L.P., a Maryland limited partnership
(the “Operating Partnership”), Daniel Rapaport, an individual, GCC Amberglen Investments Limited Partnership, an Oregon Limited Partnership (“GCC”) and Gibralt US, Inc., a Colorado corporation (“Gibralt”).

 RECITALS 
 WHEREAS,
the REIT, the Operating Partnership and Protected Partners desire to consolidate the ownership of a portfolio of properties currently owned, directly or indirectly, by certain entities, as set forth in the Contribution Agreement and related
documentation. 
 WHEREAS, the Formation Transactions relate to the proposed offering of the common stock of the REIT, par value $.01 per
share, following which the REIT will operate as a real estate investment trust within the meaning of Section 856 of the Code (as defined below); and 

WHEREAS, as a condition to engaging in the Formation Transactions, and as an inducement to do so, the parties hereto are entering into this
Agreement; 
 NOW, THEREFORE, in consideration of the promises and mutual agreements contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

DEFINED TERMS 
 For
purposes of this Agreement the following terms shall apply: 
 Section 1.1 “Affiliate” means, with respect to any
Person, any Person directly or indirectly controlling or controlled by or under common control with such Person. For the purposes of this definition, “control” when used with respect to any Person means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled”
have meanings correlative to the foregoing. 
 Section 1.2 “Agreement” has the meaning set forth in the preamble. 

Section 1.3 “Approval” means written approval with respect to any matter or transaction (for the avoidance of doubt, no
vote in favor of any transaction by any of the Protected Partners or any of their Affiliates in their capacity as owner of shares of the REIT or OP Units, shall constitute such approval). 

 Section 1.4 “Approved Liability” means: 

(a) A liability of the Operating Partnership (or of an entity of which the Operating Partnership owns at least eighty (80%) percent of the
outstanding ownership interests determined on the basis of the value to be received upon a liquidation of the entity) with respect to which all of the following requirements are satisfied: 

(i) the liability is secured by real property or other assets (the “Collateral”) owned directly or indirectly by the
Operating Partnership or by an entity of which the Operating Partnership owns at least eighty (80%) percent of the outstanding ownership interests (determined on the basis of the value to be received upon a liquidation of the entity); 

(ii) the Approved Liability is designated as such by the Operating Partnership and on the date on which the Operating Partnership designated
such liability as an Approved Liability, the outstanding principal amount (and any accrued and unpaid interest) of the liability and any other Approved Liabilities secured by such Collateral at such time was no more than 70% of the fair market value
(as reasonably determined in good faith by the Operating Partnership) of the Collateral at such time, provided that if interest on such liability is not required to be paid at least annually or if the documents evidencing such liability
permit the borrower to borrow additional amounts that are secured by the Collateral, the outstanding principal amount of such liability shall include the maximum amount that could be so added to the principal amount of such liability without a
default; 
 (iii) the liability constitutes “qualified nonrecourse financing” as defined in Section 465(b)(6) of the Code
with respect to the Protected Partners; 
 (iv) no other person has executed any guarantees with respect to such liability other than:
(A) guarantees by the Protected Partners; (B) guarantees by Affiliates of the Operating Partnership, provided that each applicable Protected Partner indemnifies each such Affiliate against any liability of such Affiliate (to the
extent such liability does not exceed such Protected Partner’s Required Liability Amount) arising solely from the existence or performance of such guaranty; and (C) recourse carve out guaranties (i.e., bad-boy guaranties); and 

(v) the Collateral does not provide security for another liability (other than another Approved Liability) that ranks senior to, or pari
passu with, the liability described in clause (i) above. 
 For purposes of determining whether clause (ii) has been satisfied in situations
where one or more potential Approved Liabilities are secured by more than one item of Collateral, the Operating Partnership shall allocate such liabilities among such items of Collateral in proportion to their relative fair market values (as
reasonably determined in good faith by the Operating Partnership); 
 (b) A liability of the Operating Partnership that: 

(i) is not secured by any of the assets of the Operating Partnership and is a general, recourse obligation of the Operating Partnership; and

  
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 (ii) is not provided by a lender that has an interest in the Operating Partnership or is related
to the Operating Partnership within the meaning of Section 465(b)(3)(C) of the Code; or 
 (c) Any other indebtedness approved by both
Gibralt in their respective sole and absolute discretion. 
 Section 1.5 “Closing Date” has the meaning assigned to it
in the Contribution Agreement. 
 Section 1.6 “Code” means the Internal Revenue Code of 1986, as amended. 

Section 1.7 “Collateral” has the meaning set forth in the definition of “Approved Liability.” 

Section 1.8 “Contribution Agreement” means that certain Contribution Agreement, dated as of
            , 2014, by and among the Operating Partnership, GCC, Daniel Rapaport and Gibralt. 

Section 1.9 “Debt Gross Up Amount” has the meaning set forth in the definition of “Make Whole Amount.”

 Section 1.10 “Debt Notification Event” means, with respect to an Approved Liability, any transaction in which such
liability shall be refinanced, otherwise repaid (excluding for this purpose, scheduled payments of principal occurring prior to the maturity date of such liability), or guaranteed by any of the REIT, the Operating Partnership, or one or more of
their Affiliates, or guaranteed by one or more partners of the Operating Partnership. 
 Section 1.11 “Exchange” has
the meaning set forth in Section 2.1(b). 
 Section 1.12 “Formation Transactions” has the meaning set
forth in the Contribution Agreement. 
 Section 1.13 “Fundamental Transaction” means a merger, consolidation or other
combination of the Operating Partnership with or into any other entity, a transfer of all or substantially all of the assets of the Operating Partnership, any reclassification, recapitalization or change of the outstanding equity interests of the
Operating Partnership, or a conversion of the Operating Partnership into another form of entity. 
 Section 1.14 “Gross Up
Amount” has the meaning set forth in the definition of “Make Whole Amount.” 
 Section 1.15
“Guaranteed Liability” means any Approved Liability that is guaranteed, in whole or in part, by one or more Protected Partners in accordance with this Agreement. 

Section 1.16 “Guaranty Indemnification Period” means the period commencing on the Closing Date and ending on the fourth
(4th) anniversary of the Closing Date. 
 Section 1.17 “Guaranty
Opportunity” has the meaning set forth in Section 2.4(b). 

  
 - 3 - 

 Section 1.18 “Make Whole Amount” means: 

(a) with respect to any Protected Partner that recognizes gain under Section 704(c) of the Code as a result of a Property Indemnification
Period Transfer, the sum of (i) the product of (x) the income and gain recognized by such Protected Partner under Section 704(c) of the Code in respect of such Property Indemnification Period Transfer (taking into
account any adjustments under Section 743 of the Code to which such Protected Partner is entitled) multiplied by (y) the Make Whole Tax Rate, plus (ii) an amount equal to the combined Federal, applicable state and local
income taxes (calculated using the Make Whole Tax Rate) imposed on such Protected Partner as a result of the receipt by such Protected Partner of a payment under Section 2.2 (the “Gross Up Amount”); provided,
however, that the Gross Up Amount shall be computed without regard to any losses, credit, or other tax attributes that such Protected Partner might have that would reduce its actual tax liability; and 

(b) with respect to any Protected Partner that recognizes gain as a result of a breach by the Operating Partnership of the provisions of
Section 2.4 hereof, the sum of (i) the product of (x) the income and gain recognized by such Protected Partner by reason of such breach, multiplied by (y) the Make Whole Tax Rate, plus
(ii) an amount equal to the combined Federal, applicable state and local income taxes (calculated using the Make Whole Tax Rate) imposed on such Protected Partner as a result of the receipt by such Protected Partner of a payment under
Section 2.4 (the “Debt Gross Up Amount”); provided, however, that the Debt Gross Up Amount shall be computed without regard to any losses, credit, or other tax attributes that such Protected Partner might
have that would reduce its actual tax liability. 
 For purposes of calculating the amount of Section 704(c) gain that is allocated to a Protected
Partner, (i) subject to clause (ii) below, any “reverse Section 704(c) gain” allocated to such Protected Partner pursuant to Treasury Regulations § 1.704-3(a)(6) shall not be taken into account, and (ii) if, as a
result of adjustments to the Gross Asset Value (as defined in the OP Agreement) of the Protected Properties, all or a portion of the gain recognized by the Operating Partnership that would have been Section 704(c) gain without regard to such
adjustments becomes or is treated as “reverse Section 704(c) gain” or Section 704(b) gain under Section 704 of the Code, then such gain shall continue to be treated as Section 704(c) gain; provided that the total
amount of Section 704(c) gain and income taken into account for purpose of calculating the Make Whole Amount shall not exceed the initial Section 704(c) gain amount as of the Closing Date (whether or not equal to the estimated amount set
forth on Exhibit A). 
 Section 1.19 “Make Whole Tax Rate” means, with respect to a Protected Partner who is
entitled to receive a payment under Section 2.2 or under Section 2.4, the highest combined statutory Federal, state and local tax rate in respect of the income or gain that gave rise to such payment, taking into account the
character of the income and gain in the hands of such Protected Partner (reduced, in the case of Federal taxes, by the deduction allowed for income taxes paid to a state or locality), for the taxable year in which the event that gave rise to such
payment under Section 2.2 or Section 2.4 occurred. Notwithstanding the foregoing, if a Protected Partner demonstrates to the reasonable satisfaction of the Operating Partnership that such Protected Partner is not entitled to
a Federal income tax deduction for all or a portion of the income taxes paid to a state or locality or does not receive a full Federal income tax benefit for all or a portion of the income taxes paid to a state or locality, the Make Whole Tax Rate
applicable to such Protected Partner shall be reduced only by the deduction, if any, or the benefit, if any, the Protected Partner is entitled to take or receive for such taxes. 

  
 - 4 - 

 Section 1.20 “OP Agreement” means the Agreement of Limited Partnership of
City Office Operating Partnership, L.P., as amended from time to time. 
 Section 1.21 “OP Units” means common units
of partnership interest in the Operating Partnership. 
 Section 1.22 “Operating Partnership” has the meaning set
forth in the preamble. 
 Section 1.23 “Other Protected Person” has the meaning assigned to the term “Protected
Partner” in the Second City Tax Protection Agreement. 
 Section 1.24 “Pass Through Entity” means a partnership,
grantor trust, or S corporation for Federal income tax purposes. 
 Section 1.25 “Permitted Disposition” means a sale,
exchange or other disposition of OP Units (i) by a Protected Partner: (a) to such Protected Partner’s children, spouse or issue; (b) to a trust for such Protected Partner or such Protected Partner’s children, spouse or
issue; (c) in the case of a trust which is a Protected Partner, to its beneficiaries, or any of them, whether current or remainder beneficiaries; (d) to a revocable inter vivos trust of which such Protected Partner is a trustee;
(e) in the case of any partnership or limited liability company which is a Protected Partner, to its partners or members; and/or (f) in the case of any corporation which is a Protected Partner, to its shareholders, and (ii) by a party
described in clauses (a), (b), (c) or (d) to a partnership, limited liability company or corporation of which the only partners, members or shareholders, as applicable, are parties described in clauses (a), (b), (c) or (d);
provided, that for purposes of the definition of Property Indemnification Period and Guaranty Indemnification Period, such Protected Partner shall be treated as continuing to own any OP Units which were subject to a Permitted Disposition
unless and until there has been a sale, exchange or other disposition of such OP Units by a permitted transferee which is not another Permitted Disposition. 

Section 1.26 “Person” means an individual or a corporation, partnership, trust, unincorporated organization,
association, limited liability company or other entity. 
 Section 1.27 “Property Indemnification Period” means the
period commencing on the Closing Date and ending on the fourth (4th) anniversary of the Closing Date. 

Section 1.28 “Property Indemnification Period Transfer” has the meaning set forth in Section 2.1(a). 

Section 1.29 “Protected Partner” means: (i) Gibralt; (ii) GCC; (iii) Daniel Rapaport; (iv) any person who
holds OP Units and who acquired such OP Units from another Protected Partner in a transaction in which such person’s adjusted basis in such OP Units, as determined for Federal income tax purposes, is determined, in whole or in part, by
reference to the adjusted basis of the other Protected Partner in such OP Units; and (iv) with respect to a Protected Partner that is Pass Through Entity, and solely for purposes of computing the amount to be paid under Section 2.2
with respect to such 

  
 - 5 - 

 
Protected Partner, any person who (y) holds an interest in such Protected Partner, either directly or through one or more Pass Through Entities, and (z) is required to include all or a
portion of the income of such Protected Partner in its own gross income. 
 Section 1.30 “Protected Property” means
each property identified on Exhibit A hereto and each property acquired in Exchange for a Protected Property as set forth in Section 2.1(b). 

Section 1.31 “Qualifying Liability” means (i) any Approved Liability and (ii) any liability that qualifies as
an Approved Liability under the Second City Tax Protection Agreement. 
 Section 1.32 “Required Liability Amount”
means: (i) with respect to each Protected Partner, 110% of such Protected Partner’s estimated “negative tax capital account” as of the Closing Date, a current estimate of which is set forth on Exhibit B hereto for each
such Protected Partner, and (ii) with respect to each Other Protected Person, the amount set forth as the relevant Required Liability Amount in the Second City Tax Protection Agreement. 

Section 1.33 “REIT” has the meaning set forth in the preamble. 

Section 1.34 “Second City Tax Protection Agreement” means that certain Tax Protection Agreement by and among the
Operating Partnership, the REIT and Second City General Partner II, LP and CIO OP Limited Partnership. 
 Section 1.35 “Section
2.4 Notice” has the meaning set forth in Section 2.4(c). 
 Section 1.36 “Tax Claim” has the
meaning set forth in Section 4.1. 
 Section 1.37 “Tax Proceeding” has the meaning set forth in Section 4.1.

 Section 1.38 “Transfer” means any direct or indirect sale, exchange, transfer or other disposition, whether
voluntary or involuntary. 
 Section 1.39 “Treasury Regulations” means the income tax regulations under the Code,
whether such regulations are in proposed, temporary or final form, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations). 

ARTICLE II 
 TAX
MATTERS 
 Section 2.1 Taxable Transfers. 

(a) Unless the Operating Partnership receives the Approval of the Protected Partners with respect to a Property Indemnification Period
Transfer, during the Property Indemnification Period, the Operating Partnership shall indemnify the Protected Partners as set forth in Section 2.2 if the Operating Partnership or any entity in which the Operating Partnership holds a
direct or indirect interest shall cause or permit (i) any Transfer of all or any portion of a Protected Property (including any interest therein or in the entity owning, directly or indirectly, the Protected

  
 - 6 - 

 
Property) in a transaction that would result in the recognition of taxable income or gain by any Protected Partner under Section 704(c) of the Code, or (ii) any Fundamental Transaction
that would result in the recognition of taxable income or gain to any Protected Partner (such a Fundamental Transaction and such a Transfer, collectively a “Property Indemnification Period Transfer”). 

(b) Section 2.1(a) shall not apply to any Property Indemnification Period Transfer of a Protected Property (including any interest
therein or in the entity owning, directly or indirectly, the Protected Property): (i) in a transaction in which no gain is required to be recognized by a Protected Partner (an “Exchange”), including a transaction qualifying
under Section 1031 or Section 721 (or any successor statutes) of the Code; provided, however, that any property acquired by the Operating Partnership in the Exchange shall remain subject to the provisions of this Article
II in place of the exchanged Protected Property for the remainder of the Property Indemnification Period; (ii) as a result of the condemnation or other taking of any Protected Property by a governmental entity in an eminent domain
proceeding or otherwise, provided that the Operating Partnership shall use commercially reasonable efforts to structure such disposition as either a tax-free like-kind exchange under Section 1031 or a tax-free reinvestment of proceeds under
Section 1033, but in no event shall the Operating Partnership be obligated to acquire or invest in any property that it otherwise would not have acquired or invested in. 

(c) For any Transfer of all or any portion of any property of the Operating Partnership which is not a Property Indemnification Period
Transfer, the Operating Partnership shall use commercially reasonable efforts to cooperate with the Protected Partners to minimize any taxes payable by the Protected Partners in connection with any such Transfers. 

Section 2.2 Indemnification for Transfers. 

(a) In the event of a Property Indemnification Period Transfer described in Section 2.1(a), the Operating Partnership shall pay to
the Protected Partners described in clauses (i) through (iv) of the definition of such term, within 30 days after the closing of such Property Indemnification Period Transfer, an amount of cash equal to the estimated Make Whole Amount applicable to
such Property Indemnification Period Transfer for all Protected Partners affected by the Property Indemnification Period Transfer. If it is later determined that the true Make Whole Amount applicable to a Protected Partner exceeds the estimated Make
Whole Amount applicable to such Protected Partner, then the Operating Partnership shall pay such excess for the benefit of such Protected Partner within 90 days after the closing of the Property Indemnification Period Transfer, and if such estimated
Make Whole Amount exceeds the true Make Whole Amount, then each Protected Partner shall promptly refund such excess to the Operating Partnership, but only to the extent such excess was actually received by such Protected Partner. 

(b) Notwithstanding any provision of this Agreement to the contrary, the sole and exclusive rights and remedies of any Protected Partner under
Section 2.1(a) shall be a claim against the Operating Partnership for the Make Whole Amount as set forth in this Section 2.2, and no Protected Partner shall be entitled to pursue a claim for specific performance of the
covenants set forth in Section 2.1(a) or bring a claim against any person that acquires a Protected Property from the Operating Partnership in violation of Section 2.1(a). 

  
 - 7 - 

 (c) For the avoidance of doubt, a vote in favor of a Property Indemnification Period Transfer by
a Protected Partner in its capacity as an owner of OP Units or shares of the REIT shall not constitute a waiver of such Protected Partner’s right to indemnification pursuant to this Section 2.2 as a result of such Property
Indemnification Period Transfer. 
 Section 2.3 Section 704(c) Gain. A good faith estimate of the initial amount of
Section 704(c) gain as of the Closing Date of the Formation Transactions is set forth on Exhibit A hereto. The parties acknowledge that the initial amount of such Section 704(c) gain may be adjusted over time as required by
Section 704(c) of the Code and the Regulations promulgated thereunder. 
 Section 2.4 Approved Liability Maintenance and
Allocation. 
 (a) During the Guaranty Indemnification Period, the Operating Partnership shall: (i) maintain on a continuous basis
an amount of Qualifying Liabilities at least equal to the aggregate Required Liability Amount of all Protected Partners and Other Protected Persons; and (ii) provide to the Protected Partners, promptly upon request, with a description of the
nature and amount of any Approved Liabilities that are available to be guaranteed by the Protected Partners pursuant to Section 2.4(b) of this Agreement. 

(b) (i) During the Guaranty Indemnification Period, the Operating Partnership shall provide each Protected Partner with the opportunity to
execute a guaranty in a form and manner that receives the Approval of the Protected Partners of one or more Approved Liabilities in an amount up to such Protected Partner’s Required Liability Amount (each such opportunity and each opportunity
required by Section 2.4(c), a “Guaranty Opportunity”), and (ii) after the Guaranty Indemnification Period, the Operating Partnership shall use commercially reasonable efforts to make Guaranty Opportunities available
to each Protected Partner, provided that in the case of this clause (ii), the Operating Partnership shall not be required to incur any indebtedness that it would not otherwise have incurred, as determined by the Operating Partnership in its
reasonable discretion; provided, however, that in the case of clauses (i) and (ii) the aggregate amount of all guarantees required to be made available by the Operating Partnership for execution by all Protected Partners need not
exceed the aggregate Required Liability Amount of all Protected Partners. The Operating Partnership shall have the discretion to identify the Approved Liability or Approved Liabilities that shall be made available for guaranty by each Protected
Partner. Each Protected Partner may allocate the Guaranty Opportunity afforded to such Protected Partner in any manner determined to be desirable by the Protected Partner. The Operating Partnership agrees to file its tax returns allocating any debt
subject to a Guaranty to the applicable Protected Partners. Each Protected Partner shall bear the costs incurred by it in connection with the execution of any guaranty to which it is a party. To the extent a Protected Partner executes a guaranty,
the Operating Partnership shall deliver a copy of such guaranty to the lender under the Guaranteed Liability promptly after receiving such copy from the relevant Protected Partner. 

(c) During the Guaranty Indemnification Period, the Operating Partnership shall not allow a Debt Notification Event to occur unless the
Operating Partnership provides at least thirty (30) days’ written notice (a “Section 2.4 Notice”) to the Protected Partners. The Section 2.4 Notice shall describe the Debt Notification Event and designate one or more
Approved Liabilities that may be guaranteed by the Protected Partners pursuant to Section 2.4(b) of this Agreement in an amount 

  
 - 8 - 

 
equal to the amount of the refinanced or repaid Approved Liability that was guaranteed by such Protected Partner immediately prior to the date of the Debt Notification Event. The Section 2.4
Notice shall be deemed to have been provided when delivered in person or when sent by first class United States mail or by other means of written or electronic communication (including by telecopy, facsimile, electronic mail or commercial courier
service) to the Protected Partners at the addresses set forth in the Register (as defined in the OP Agreement). Any Protected Partner that desires to execute a guaranty following a Section 2.4 Notice shall provide the Operating Partnership with
notice thereof within ten (10) days after the date of the Section 2.4 Notice. 
 (d) Provided the Operating Partnership satisfies
its obligations under Section 2.4(a), (b) and (c) of this Agreement, the Operating Partnership shall have no liability to a Protected Partner under Section 2.4(e) for breach of Section 2.4,
whether or not such Protected Partner timely accepts its Guaranty Opportunity. Furthermore, the Operating Partnership makes no representation or warranty to any Protected Partner concerning the treatment or effect of any guaranty under Federal,
state, local, or foreign tax law, and bears no responsibility for any tax liability of any Protected Partner or Affiliate thereof that is attributable to a reallocation, by a taxing authority, of debt subject to a guaranty (other than a reallocation
that results from any act or omission taken by the Operating Partnership or one of its Affiliates in violation of this Section 2.4 or an act or omission that is indemnifiable under Section 2.4(e) of this Agreement). 

(e) If the Operating Partnership shall fail to comply with any provision of this Section 2.4, the Operating Partnership shall pay,
within thirty (30) days of such failure, a Make Whole Payment with respect to each Protected Partner who recognizes income or gain as a result of such failure equal to the estimated Make Whole Amount applicable to such failure. In the case of a
Protected Partner not described in clauses (i) through (iv) of the definition of that term, such payment shall be made to the relevant Pass Through Entity on behalf of such Protected Partner. If it is determined that the true Make Whole Amount
applicable to a Protected Partner exceeds the estimated Make Whole Amount applicable to such Protected Partner, then the Operating Partnership shall pay such excess within thirty (30) days after the date of such determination, and if such
estimated Make Whole Amount exceeds the true Make Whole Amount, then such Protected Partner shall pay such excess to the Operating Partnership within thirty (30) days after the date of such determination, but only to the extent such excess was
actually received. 
 (f) Notwithstanding any provision of this Agreement to the contrary, the sole and exclusive rights and remedies of any
Protected Partner for a breach or violation of the covenants set forth in Section 2.4 shall be a claim a claim against the Operating Partnership for the Make Whole Amount as set forth in Section 2.4(e), and no Protected
Partner shall be entitled to pursue a claim for specific performance of the covenants set forth in Section 2.4. 
 ARTICLE III

 SECTION 704(c) METHOD AND ALLOCATIONS 

Section 3.1 Notwithstanding any provision of the OP Agreement, the Operating Partnership shall use, and shall cause any other
entity in which the Partnership has a direct or indirect interest to use, the “traditional method” under Treasury Regulations Section 1.704-3(b) for purposes of making all allocations under Section 704(c) of the Code with respect
to each 

  
 - 9 - 

 
property included on Exhibit A to take into account the book-tax disparities as of the Closing Date and with respect to any revaluation of such property pursuant to Treasury Regulations
Sections 1.704-1(b)(2)(iv)(f), 1.704-1(b)(2)(iv)(g), or 1.704-3(a)(6) with no “curative allocations”, “remedial allocations” or adjustments to other items to offset the effects of the “ceiling rule,” including upon
any sale of any property listed on Exhibit A. 
 ARTICLE IV 

TAX PROCEEDINGS 

Section 4.1 Notice of Tax Audits. If any claim, demand, assessment (including a notice of proposed assessment) or other assertion
is made with respect to taxes against the Protected Partners or the Operating Partnership or any entity of which the Operating Partnership owns at least eighty (80%) per cent of the outstanding ownership interests (determined on the basis of
the value to be received upon a liquidation of the entity), that could result in tax liability to a Protected Partner (“Tax Claim”) or if the REIT or the Operating Partnership receives any notice from any jurisdiction with respect
to any current or future audit, examination, investigation or other proceeding (“Tax Proceeding”) involving the Protected Partners or the Operating Partnership or that otherwise could involve a matter covered in this Agreement and
could directly or indirectly affect the Protected Partners (adversely or otherwise), the REIT or the Operating Partnership, as applicable, shall promptly notify the Protected Partners of such Tax Claim or Tax Proceeding. 

Section 4.2 Control of Tax Proceedings. The Operating Partnership, shall have the right to control the defense, settlement or
compromise of any Tax Proceeding or Tax Claim; provided, however, that the Operating Partnership shall not consent to the entry of any judgment or enter into any settlement with respect to such Tax Claim or Tax Proceeding that could result in tax
liability to a Protected Partner without the prior written consent of the potentially affected Protected Partner(s) (unless, and only to the extent, that any taxes required to be paid by the Protected Partner as a result thereof would be required to
be reimbursed by the Operating Partnership under this Agreement and the Operating Partnership agrees in connection with such settlement or consent to make such required payments); provided further that the Operating Partnership shall keep the
potentially affected Protected Partner(s) duly informed of the progress thereof to the extent that such Proceeding or Tax Claim could directly or indirectly affect (adversely or otherwise) such Protected Partners and (ii) any potentially affected
Protected Partner shall have the right to review and comment on any and all submissions made to the Internal Revenue Service, a court, or other governmental body with respect to such Tax Claim or Tax Proceeding and the Operating Partnership will
consider such comments in good faith. 
 ARTICLE V 

GENERAL PROVISIONS 

Section 5.1 Notices. All notices, demands, declarations, consents, directions, approvals, instructions, requests and other
communications required or permitted by the terms of this Agreement shall be given in the same manner as in the OP Agreement. 

  
 - 10 - 

 Section 5.2 Titles and Captions. All Article or Section titles or captions in
this Agreement are for convenience only. They shall not be deemed part of this Agreement and in no way define, limit, extend or describe the scope or intent of any provisions hereof. Except as specifically provided otherwise, references to
“Articles” and “Sections” are to Articles and Sections of this Agreement. 
 Section 5.3 Pronouns and
Plurals. Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa. 

Section 5.4 Further Action. The parties shall execute and deliver all documents, provide all information and take or refrain from
taking action as may be necessary or appropriate to achieve the purposes of this Agreement. 
 Section 5.5 Binding Effect. This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives and permitted assigns. 

Section 5.6 Creditors. Other than as expressly set forth herein, none of the provisions of this Agreement shall be for the benefit
of, or shall be enforceable by, any creditor of the Operating Partnership. 
 Section 5.7 Waiver. No failure by any party to
insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach or any covenant, duty, agreement or
condition. 
 Section 5.8 Counterparts. This Agreement may be executed in counterparts, all of which together shall constitute
one agreement binding on all of the parties hereto, notwithstanding that all such parties are not signatories to the original or the same counterpart. Each party shall become bound by this Agreement immediately upon affixing its signature hereto.

 Section 5.9 Applicable Law. This Agreement shall be construed and enforced in accordance with and governed by the laws of the
State of New York, without regard to the principles of conflicts of law. 
 Section 5.10 Invalidity of Provisions. If any
provision of this Agreement is or becomes invalid, illegal or unenforceable in any respect, the validity, legality or enforceability of other remaining provisions contained herein shall not be affected thereby. 

Section 5.11 Entire Agreement. This Agreement contains the entire understanding and agreement among the Partners with respect to
the subject matter hereof and amends, restates and supersedes the OP Agreement and any other prior written or oral understandings or agreements among them with respect thereto. 

  
 - 11 - 

 Section 5.12 Dispute Resolution. Any controversy, dispute, or claim of any nature
arising out of, in connection with, or in relation to the interpretation, performance, enforcement or breach of this Agreement (and any closing document executed in connection herewith) shall be governed by the dispute resolution provisions set
forth in Section 6.08 of the Contribution Agreement. 
 Section 5.13 No Rights as Stockholders. Nothing contained in this
Agreement shall be construed as conferring upon the holders of the OP Units any rights whatsoever as stockholders of the REIT, including, without limitation, any right to receive dividends or other distributions made to stockholders of the REIT or
to vote or to consent or to receive notice as stockholders in respect of any meeting of stockholders for the election of directors of the REIT or any other matter. 

Section 5.14 Successors; Assigns. This Agreement will be binding upon and inure to the benefit of the parties and their respective
successors and assigns. Notwithstanding the foregoing, in the event of the dissolution, liquidation or other termination of Gibralt or GCC, that party shall appoint one of its owners to act on its behalf and that owner shall succeed to the
obligations, duties, rights and privileges under this Agreement. Such owner shall act as the exclusive representative on behalf of those persons who are or would be Protected Partners with respect to such party. 

[Remainder of Page Left Blank Intentionally] 

  
 - 12 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above
written. 
  

			
	REIT:
	
	City Office REIT, Inc. a Maryland corporation
		
	By:	 	  

		 	name
		
	Its:	 	  

		 	title
		
	By:	 	  

		 	name
		
	Its:	 	  

		 	title

  

			
	OPERATING PARTNERSHIP:
	
	City Office REIT Operating Partnership, L.P., a Maryland limited partnership
		
	By:	 	  

		 	City Office REIT, Inc. a Maryland corporation
	Its:	 	General Partner
		
	By:	 	  

		 	name
		
	Its:	 	  

		 	title
		
	By:	 	  

		 	name
		
	Its:	 	  

		 	title

 
			
	GIBRALT:
	
	Gibralt US, Inc., a Colorado corporation
		
	By:	 	  

		 	name
		
	Its:	 	  

		 	title
	
	GCC:
	
	GCC AMBERGLEN INVESTMENTS LIMITED PARTNERSHIP
		
	By:	 	GCC Oregon Amberglen LLC, its Sole General Partner
		
	By:	 	GCC Holdings US, Inc., a Nevada corporation
		
	By:	 	  

		 	name
		
	Its:	 	  

		 	title
	
	DANIEL RAPAPORT:
	
	  

	Daniel Rapaport

 EXHIBIT A 
  

					
	 Contributor
	  	Protected Property	  	Estimated Initial Section 704(c)
Gain
		  		  	
		  		  	
		  		  	
		  		  	

 EXHIBIT B 
  

			
	 Protected Partner
	  	Required Liability Amount

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