Financial Data and Key Metrics Changes - The company's net operating income (NOI) for the first quarter was $26 million, which is $500,000 higher than the previous quarter, driven by higher revenue and lower operating expenses [15] - Core funds from operations (FFO) were reported at $12.3 million or $0.30 per share, an increase of $600,000 from the previous quarter [15] - Adjusted funds from operations (AFFO) were $6.5 million or $0.16 per share, with no single tenant improvement or leasing commission impacting AFFO by more than $500,000 [16] - Same store cash NOI increased by 4.4% or $1.1 million compared to the first quarter of 2024 [16] Business Line Data and Key Metrics Changes - The company completed 144,000 square feet of new and renewal leasing in the first quarter, with the largest lease being a 34,000 square foot new lease at the Papago Tech property in Phoenix [11] - The Greenwood Boulevard property in Orlando was fully leased to a single tenant, with a new 66,000 square foot tenant set to take occupancy later this year [12] - The overall portfolio occupancy ended the quarter at 84.9%, slightly lower than the previous quarter due to known vacates [17] Market Data and Key Metrics Changes - Nationally, office leasing volume was 15% higher than a year ago, with JLL estimating that it has returned to approximately 89% of typical pre-pandemic levels [10] - Higher quality office spaces in Sunbelt markets continue to outperform, with significant leasing activity noted in Phoenix [10][41] Company Strategy and Development Direction - The company is redeveloping its City Center property in downtown St. Petersburg into a 49-story residential condominium and mixed-use tower, partnering with Property Markets Group [6] - The project is expected to capitalize on luxury demand and is anticipated to have significant long-term value creation potential for shareholders [9] - The company is focusing on Sunbelt markets for capital investment, where it sees the most value creation opportunities [41] Management's Comments on Operating Environment and Future Outlook - Management noted a positive trend in overall office real estate fundamentals and expects occupancy to increase as signed leases take effect [10][31] - The company anticipates a decrease in occupancy in the short term due to tenant downsizing but expects to return to guidance ranges by year-end [31][32] - Management expressed confidence in the leasing activity in Phoenix and other Sunbelt markets, indicating strong demand [41][42] Other Important Information - The company has $646 million in total debt as of March 31, with a net debt to EBITDA ratio of 6.7 times [19] - The credit facility matures in November 2025, with an option to extend to November 2026, which the company expects to exercise [20] - Two property debt maturities are scheduled for 2025, with ongoing discussions for term extensions [21] Q&A Session Summary Question: How did the new development project come about? - The project was initiated about two years ago, recognizing the strong market for development in Downtown St. Petersburg [23] Question: What is the timing for the project? - Presales are expected to commence soon, with a construction period of approximately three years following that [26] Question: Will there be any disruption to existing property during the redevelopment? - Alternative parking arrangements are being made for tenants to minimize disruption during the redevelopment [28] Question: What is the pace of occupancy this year? - The company has 143,000 square feet of leases that have yet to take occupancy, which is expected to positively impact occupancy in the coming quarters [30] Question: Will there be any vacancy at Greenwood Boulevard? - There will be a temporary dip in occupancy due to tenant downsizing, but it is expected to return to full occupancy before the end of the year [35] Question: How are the top Sunbelt markets performing? - The company is seeing strong performance in Phoenix and other Sunbelt markets, with significant leasing activity reported [41][42]

Financial Data and Key Metrics Changes - The company's net operating income (NOI) for the first quarter was $26 million, which is $500,000 higher than the previous quarter, driven by higher revenue and lower operating expenses [15] - Core funds from operations (FFO) were reported at $12.3 million or $0.30 per share, an increase of $600,000 from the previous quarter [15] - Adjusted funds from operations (AFFO) were $6.5 million or $0.16 per share, with no significant impacts from tenant improvements or leasing commissions [16] - Same store cash NOI increased by 4.4% or $1.1 million compared to the first quarter of 2024 [16] Business Line Data and Key Metrics Changes - The company completed 144,000 square feet of new and renewal leasing in the first quarter, with the largest lease being a 34,000 square foot new lease at the Papago Tech property in Phoenix [11] - The Greenwood Boulevard property in Orlando was fully leased to a single tenant, with a new 66,000 square foot tenant set to take occupancy later this year [12] - The overall portfolio occupancy ended the quarter at 84.9%, slightly lower than the previous quarter, with expectations of a decrease in the second quarter due to tenant downsizing [17] Market Data and Key Metrics Changes - Nationally, office leasing volume was 15% higher than a year ago, with JLL estimating that it has returned to approximately 89% of pre-pandemic levels [10] - Higher quality office spaces in Sunbelt markets continue to outperform, with significant leasing activity noted in Phoenix [10][41] Company Strategy and Development Direction - The company is focused on the redevelopment of its City Center property in downtown St. Petersburg, Florida, into a luxury residential condominium and mixed-use tower [5] - An agreement was made with Property Markets Group to lead the development, with expectations of significant long-term value creation [7] - The company is strategically investing in Sunbelt markets, where it sees the most value, while avoiding capital investments in underperforming markets like Portland [40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the overall office real estate fundamentals and the positive trends in leasing activity [10] - The company anticipates occupancy will dip in the short term but expects to recover by year-end as signed leases take occupancy [31] - Management is confident in achieving year-end occupancy within the original guidance range of 85% to 87% [18] Other Important Information - Total debt as of March 31 was $646 million, with a net debt to EBITDA ratio of 6.7 times [18] - The company has approximately $42 million undrawn on its credit facility, which matures in November 2025 [19] - Two property debt maturities are scheduled for 2025, with ongoing discussions for extensions [21] Q&A Session Summary Question: How did the new development project come about? - The project was initiated two years ago, recognizing the strong market in Downtown St. Petersburg, leading to a well-structured agreement with PMG [23][24] Question: What is the timing for the project? - Presales are expected to commence soon, with a projected timeline of about one year for presales and three years for construction, totaling approximately four years for the full project [26] Question: Will there be any disruption to existing tenants during the redevelopment? - Alternative parking arrangements are being made for tenants, and they have been kept informed about the changes [27] Question: What is the pace of occupancy expected this year? - The company has 143,000 square feet of leases that have yet to take occupancy, which will contribute to occupancy levels in the coming quarters [30] Question: Will there be any vacancy at Greenwood Boulevard? - There will be a temporary dip in occupancy due to tenant downsizing, but it is expected to return to 100% occupancy before the end of the year [36] Question: How are the top Sunbelt markets performing, particularly Phoenix? - The company is seeing strong performance in Phoenix, with significant leasing activity contributing to overall positive cash spreads [40][41]

分组1 - City Office REIT (CIO) reported quarterly funds from operations (FFO) of $0.30 per share, exceeding the Zacks Consensus Estimate of $0.28 per share, but down from $0.33 per share a year ago, indicating a 7.14% FFO surprise [1] - The company posted revenues of $42.26 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.15%, but down from $44.49 million year-over-year [2] - City Office REIT has surpassed consensus FFO estimates only once in the last four quarters, while it has topped consensus revenue estimates two times in the same period [2] 分组2 - The stock has underperformed the market, with shares losing about 4.9% since the beginning of the year compared to the S&P 500's decline of 4.7% [3] - The current consensus FFO estimate for the upcoming quarter is $0.27 on revenues of $42.43 million, and for the current fiscal year, it is $1.11 on revenues of $171.62 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the bottom 35% of over 250 Zacks industries, indicating potential challenges for the sector [8]

I N V E S T O R P R E S E NTATION M A Y 2 0 2 5 N Y S E: CIO FORWARD-LOOKING STATEMENTS The Terraces, Dallas Bloc 83, Raleigh Block 23, Phoenix Note: All information as of March 31, 2025 (1) Percentages based on management's estimate of aggregate gross asset value in each market 3 This presentation contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward looking statements within the meaning of Section 27A of the S ...

Property Portfolio and Leasing Activity - As of March 31, 2025, the company owned 22 properties comprising 54 office buildings with a total of approximately 5.4 million square feet of net rentable area (NRA), with properties approximately 84.9% leased[81] - The company experienced a decrease in vacancy rates, with 12.4% of NRA under its portfolio vacant as of March 31, 2025, down from 14.0% as of March 31, 2024[87] - Total leasing activity for the three months ended March 31, 2025, included 101,000 square feet of new leasing and 43,000 square feet of renewal leasing, with an average effective rent of $31.13 per square foot[96] - The retention rate for leases was 34% during the same period, indicating challenges in maintaining tenant occupancy[96] - Approximately 7.6% of the company's leases are scheduled to expire over the remainder of the calendar year, without regard to renewal options[92] - General Services Administration (GSA) tenants represented approximately 3.9% of the base rental revenue from the company's properties as of March 31, 2025[94] - The company has seen a 20.3% increase in renewal cash rent compared to expiring leases, reflecting positive rental rate trends[96] - The economic environment has led to increased uncertainty regarding office space needs, impacting leasing activity and rental revenues[86] Financial Performance - Rental and other revenues decreased by $2.2 million, or 5%, to $42.3 million for the three months ended March 31, 2025, compared to $44.5 million for the same period in 2024[102] - Property operating expenses decreased by $1.4 million, or 8%, to $16.3 million for the three months ended March 31, 2025, from $17.7 million for the same period in 2024[103] - Net cash provided by operating activities decreased by $4.3 million to $12.1 million for the three months ended March 31, 2025, compared to $16.4 million for the same period in 2024[110] - Net cash used in investing activities decreased by $6.2 million to $1.3 million for the three months ended March 31, 2025, compared to $7.5 million for the same period in 2024, primarily due to the sale of Superior Pointe for proceeds of $11.6 million[111] - Interest expense increased by $0.2 million, or 3%, to $8.6 million for the three months ended March 31, 2025, from $8.4 million for the same period in 2024[108] Cash and Liquidity - As of March 31, 2025, the company had approximately $22.0 million of cash and cash equivalents and $14.6 million of restricted cash[117] - The Company expects to meet short-term liquidity requirements through net cash provided by operations and reserves established from existing cash, along with proceeds from public offerings and borrowings[121] - Long-term liquidity needs are primarily for debt repayment, property acquisitions, and capital improvements, expected to be met through net cash from operations and additional debt or equity issuance[122] - As of March 31, 2025, total contractual obligations amount to $748.7 million, with principal payments on indebtedness totaling $648.1 million[127] - The Company has $4.6 million in restricted cash as of March 31, 2025, due to lender-controlled cash accounts for certain properties[120] Debt and Interest Rates - Approximately 82.3% of the Company's debt, or $533.1 million, had fixed interest rates as of March 31, 2025, while 17.7% had variable interest rates[130] - A 1% increase in SOFR would lead to a $1.2 million increase in annual interest costs on outstanding debt[130] - The Company has total authorized borrowings of $325 million as of March 31, 2025, with approximately $255 million outstanding under the Unsecured Credit Facility and $25 million under a term loan[118] - The Unsecured Credit Facility matures in November 2025, with an option for a 12-month extension[118] Strategic Initiatives - The company plans to enter into a joint venture for a condominium development in St. Petersburg, Florida, while continuing to focus on office properties in growth markets predominantly in the Sun Belt[91] - The Company may recycle capital from stabilized assets or property sales to fund acquisitions or pay down existing debt[124] - The company continues to evaluate business operations and strategies to adapt to current economic and industry conditions[89] Occupancy and NOI - The total weighted average occupancy rate across properties was 84.9% as of March 31, 2025[105] - NOI, a non-GAAP measure, is used to capture trends in occupancy rates, rental rates, and operating costs, excluding depreciation and amortization[114] - The Company expects positive population and economic growth trends in its Sun Belt markets to continue, despite uncertainties related to inflation and interest rates[100] - General and administrative expenses remained flat at $3.7 million for the three months ended March 31, 2025, the same as reported in the prior year[106] - The Company did not issue any shares under the ATM Program during the three months ended March 31, 2025, despite having the capacity to issue up to 15 million shares of common stock[119]

Exhibit 99.1 City Office REIT Reports First Quarter 2025 Results VANCOUVER—May 2, 2025 —City Office REIT, Inc. (NYSE: CIO) (the "Company," "City Office," "we" or "our") today announced its results for the quarter ended March 31, 2025. First Quarter Highlights Highlights Subsequent to Quarter End • Entered into an agreement with an affiliate of Property Markets Group ("PMG") to redevelop a portion of the Company's City Center property in St. Petersburg, Florida into a planned 49-story residential condominium ...

Core Insights - City Office REIT, Inc. reported its first quarter results for 2025, indicating a positive trend in leasing activity and office real estate fundamentals in Sun Belt markets [3][4] - The company achieved a Same Store Cash NOI increase of 4.4% year-over-year and an 8.5% cash re-leasing spread over the last twelve months [3][4] - A significant redevelopment project is planned for the City Center property in St. Petersburg, Florida, which includes a 49-story mixed-use tower [3][10] Financial Performance - Total rental and other revenues for the quarter were $42.3 million, with a GAAP net loss attributable to common stockholders of approximately $3.5 million, or ($0.09) per fully diluted share [9][34] - Core FFO was approximately $12.3 million, or $0.30 per fully diluted share, while AFFO was approximately $6.5 million, or $0.16 per fully diluted share [9][36] - The company declared a first quarter dividend of $0.10 per share of common stock and $0.4140625 per share of Series A Preferred Stock, both paid on April 24, 2025 [12][13] Portfolio Operations - As of March 31, 2025, the total portfolio comprised 5.4 million net rentable square feet, with an occupancy rate of 84.9%, or 87.6% including signed leases not yet occupied [4][9] - The company executed approximately 144,000 square feet of new and renewal leases during the quarter, with new leases averaging a term of 5.9 years at an effective annual rent of $29.97 per square foot [5][6] Capital Structure - The company had total principal outstanding debt of approximately $648.1 million, with 82.3% of the debt being fixed rate or effectively fixed due to interest rate swaps [7] - The weighted average maturity of the debt was approximately 1.6 years, with a weighted average interest rate of 5.1% [7] Future Outlook - The company is reiterating its full-year 2025 guidance based on current plans and assumptions, reflecting management's view of market conditions [14]