City Office REIT (CIO) Proxy Filing summary

Executive summary

• Reported rental and other revenues of $42.3 million for Q2 2025, with a GAAP net loss attributable to common stockholders of $107.2 million, or ($2.66) per share.

• Core FFO was $11.8 million ($0.28 per share), and AFFO was $3.0 million ($0.07 per share).

• In-place occupancy was 82.5% at quarter end, or 86.8% including signed leases not yet occupied.

• Entered into a definitive merger agreement for acquisition at $7.00 per share, representing a 26% premium to the last trading day price and a 39% premium to the 90-day average.

• Entered into a $296 million sale agreement for all Phoenix, Arizona properties, with a $102.2 million impairment recognized.

Voting matters and shareholder proposals

• A special meeting of shareholders will be called to approve the proposed merger; proxy materials will be provided for voting.

• Shareholders of record will receive a definitive proxy statement with details on the merger and related transactions.

Board of directors and corporate governance

• The Board approved the suspension of future quarterly common stock dividends through the expected close of the merger.

• Regular quarterly dividends on preferred stock will continue as long as such stock remains outstanding.