City Office REIT Enters into Definitive Agreement for Sale at $7.00 per Share of Common Stock in Transaction Valued at Approximately $1.1 Billion

VANCOUVER, July 24, 2025 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office", or the "Company") today announced that it has entered into a definitive merger agreement ("the Merger Agreement") with MCME Carell Holdings, LP and MCME Carell Holdings, LLC (collectively, "MCME Carell" or the "Buyer") under which, subject to the satisfaction of the conditions set forth in the Merger Agreement, MCME Carell will acquire (other than shares owned by the Buyer, the Company or their respective affiliates) all of the issued and outstanding shares of City Office for $7.00 per share of common stock in cash (the "Transaction").

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