City Office REIT Announces Tax Treatment of 2020 Distributions

City Office REIT, Inc. (NYSE: CIO) ("the Company”), today announced the tax treatment of its 2020 distributions to holders of the Company’s common stock and 6.625% Series A Cumulative Redeemable Preferred Stock ("Preferred Stock”). The tax information provided below should not be construed as tax advice and shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of the Company’s distributions. This information is being provided to assist shareholders with tax reporting requirements related to dividend distributions of taxable income by the Company. Shareholders should review their Forms 1099 as well as other 2020 tax statements that they will receive from their brokerage firms or other institutions to ensure that the statements agree with the information provided below.

¹ Qualified Dividends (Box 1b) are a subset of, and are included in, the total Ordinary Dividends reported in Box 1a.

About City Office REIT, Inc.

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading markets in the Southern and Western United States. City Office currently owns or has a controlling interest in 5.8 million square feet of office properties. Additional information about City Office is available on the Company’s website at www.cityofficereit.com. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

Forward-looking Statements

This press release contains "forward looking statements” within the meaning of the "safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. All statements that are not statements of historical facts are, or may be deemed to be, forward looking statements. Forward looking statements reflect our current expectations concerning future results, objectives, plans and goals, and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause future results, performance or achievements to differ. These risks, uncertainties and other factors include factors described in our news releases and filings with the United States Securities and Exchange Commission (the "SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2019, which has been filed with the SEC. Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.

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