Investor Presentaiton

TRANSFORMATIONAL LIFE SCIENCE SALE olton CITY OFFICE REIT CIO's focus on enhancing its life science portfolio has generated a 'home-run' for shareholders CIO has entered into agreements to sell it's San Diego life science assets for $576 million (1) ☐ $395 million first closing scheduled for December 2021 ("North Disposition") (2) ☐ $181 million second closing scheduled for February 2023 ("South Disposition") (2) (3) ☐ Net proceeds, after estimated closing and transaction costs, of approximately $546 million ($12.38 per share) (3 ☐ Gain on sale of approximately $430 million ($9.75 per share) based on $116 million cost base (3)(4) ☐ Agreements include a performance guaranty from a creditworthy private equity fund and $29 million of cash deposits (5) Magnitude of sale proceeds transforms CIO's financial position Mid-$20's estimated net asset value per share of CIO common stock based on net proceeds ☐ ☐ Generates net proceeds nearly equal to CIO's entire corporate debt outstanding as of June 30, 2021 Strengthens balance sheet and leverage metrics Ability to enhance portfolio with high-quality future acquisitions to drive predictable cash flow growth ☐ Assets being sold are unencumbered by debt; all net proceeds available to reinvest / distribute to shareholders Management focus on redeploying into premier properties with high-quality cash flow ☐ Great locations, credit tenants and long/committed lease terms ☐ Pathway to significantly enhanced net asset value and earnings per share growth ☐ Transaction positions CIO for potential dividend growth and/or special distributions (1) Sale pursuant to two separate purchase and sale agreements. Closings are subject to customary closing conditions (2) (3) CIO may accelerate a closing with 45 days notice in order to accommodate an efficient redeployment of proceeds Based on 44.1 million common shares outstanding as of June 30, 2021 (4) Cost base represents book value of Sorrento Mesa assets and liabilities plus working capital as of June 30, 2021 (5) Each buyer is a joint venture with an experienced private equity investor that has over $30 billion of assets under management. A creditworthy subsidiary of the private equity investor has provided a guaranty for the payment and performance of certain of each buyer's obligations, including specific performance and damages remedies 6

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