Exhibit 99.1

REPORT OF INDEPENDENT AUDITORS

To the Board of Directors of City Office REIT, Inc.

We have audited the accompanying statement of revenues and certain expenses of Florida Research Park (the Property) for the year ended December 31, 2013, and the related notes to the financial statement.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of the statement of revenues and certain expenses in conformity with U.S. generally accepted accounting principles; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the statements of revenues and certain expenses that are free of material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on the statement of revenues and certain expenses based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the statement of revenues and certain expenses are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the statement of revenues and certain expenses. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the statements of revenues and certain expenses, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Property’s preparation and fair presentation of the statement of revenues and certain expenses in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Property’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the statement of revenues and certain expenses.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the statement of revenues and certain expenses referred to above presents fairly, in all material respects, the revenues and certain expenses, as described in note 2, for the year ended December 31, 2013 in conformity with U.S. generally accepted accounting principles.

Basis of Accounting

As described in note 2 to the financial statements, the statement of revenues and certain expenses has been prepared for the purpose of complying with the rules and regulations of the Securities and Exchange Commission for inclusion in the Form 8-K of City Office REIT, Inc., and is not intended to be a complete presentation of the Property’s revenues and expenses. Our opinion is not modified in this respect.

/s/ KPMG LLP

Vancouver, Canada

December 2, 2014

1

See accompanying notes to statement of revenues and certain expenses.

2

FLORIDA RESEARCH PARK, ORLANDO

NOTES TO STATEMENT OF REVENUES AND CERTAIN EXPENSES

1. Organization

The accompanying statements of revenues and certain expenses include the operations of Florida Research Park (the “Property”) which consists of a two-story office building and parking spaces. The Property is located in the University/Research Park submarket of Orlando, Florida.

2. Basis of Presentation and Significant Accounting Policies

The accompanying statements of revenues and certain expenses (the “statements”) have been prepared for the purpose of complying with Rule 3-14 of Regulation S-X promulgated under the Securities Act of 1933, as amended. The statements are not intended to be a complete presentation of the revenues and expenses of the Property. Accordingly, the statements exclude expenses not directly related to the future operations of the Property such as depreciation and amortization, amortization of intangible assets and liabilities, asset management fees, finance costs, and other costs not directly related to the proposed future operations of the property.

Revenue Recognition

Minimum rental revenue is recognized on a straight-line basis over the term of the leases. The leases provide for the reimbursement by the tenants of real estate taxes, insurance and certain property operating expenses to the owner of the Property. These reimbursements are recognized as revenue in the period the expenses are incurred.

The Property increased rental income by $137,634 and $68,210 to record revenue on a straightline basis during the year ended December 31, 2013 and nine months ended September 30, 2014, respectively.

Use of Estimates

The preparation of the statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the statements and accompanying notes. Actual results could differ from those estimates.

Unaudited interim statement

The statement of revenues and certain expenses for the nine months ended September 30, 2014 is unaudited. In the opinion of management, the statement reflects all adjustments necessary for a fair presentation of the results of the interim period. All such adjustments are of a normal recurring nature.

3. Rental Revenue

The Property is leased to a single tenant under an operating lease, which expires in 2021. One tenant accounted for 100% of rental income as of December 31, 2013. The minimum rental amounts due under the lease are subject to scheduled fixed increases. The lease is on a triple net basis such that the tenant is responsible for certain operating costs, insurance expenses and real estate taxes. The Property remains liable for certain expenditures should the tenant default on its obligation to pay them. Future minimum rents to be received over each of the next five years and thereafter under the non-cancelable operating lease in effect as of December 31, 2013 are as follows:

3

FLORIDA RESEARCH PARK, ORLANDO

NOTES TO STATEMENT OF REVENUES AND CERTAIN EXPENSES

Leases generally require reimbursement of the tenant’s proportional share of common area, real estate taxes and other operating expenses which are in excess of a base year operating expense amount. These reimbursements are excluded from the amounts above.

4. Subsequent Events

The Property has evaluated subsequent events through December 2, 2014, the date the statements were available to be issued. The Property was acquired by City Office REIT Inc., on November 18, 2014 from a nonaffiliated third party for approximately $26.5 million.

4

Exhibit 99.2

City Office REIT, Inc.

Pro Forma Consolidated Financial Statements

(Unaudited)

As previously announced, on November 18, 2014, City Office REIT, Inc. closed on the acquisition of a two-storey, 124,500 square foot office building in the University / Research Park submarket of Orlando, Florida (“Florida Research Park”). The contract purchase price for the two-storey building office property was $26.5 million, exclusive of closing costs. The acquisition was financed with a $17.0 million mortgage that has been fixed at a 4.44% interest rate for 10 years. The remainder of the acquisition was financed through cash on hand and borrowings from the Secured Credit Facility.

The accompanying unaudited Pro Forma Consolidated Balance Sheet is presented to reflect the historical consolidated balance sheet of the Company at September 30, 2014 (which includes the acquisition of Plaza 25 and Lake Vista Pointe properties), and the acquisition of the Florida Research Park property as if they had all been completed on September 30, 2014. Since the Company had no operations prior to completion of the IPO and related Formation Transactions on April 21, 2014, the accompanying unaudited Pro Forma Consolidated Statement of Operations for the year ended December 31, 2013 is presented to reflect the historical results of operations of the Company’s predecessor for the year ended December 31, 2013 and the IPO, the related Formation Transactions (derived from the unaudited Pro Forma Consolidated Statement of Operations for the year ended December 31, 2013, included in the Company’s Prospectus filing on Form 424B4 filed with the SEC on April 16, 2014), and the acquisitions of Plaza 25, Lake Vista Pointe and Florida Research Park properties as if they had all been completed on January 1, 2013. The accompanying unaudited Pro Forma Consolidated Statement of Operations for the nine months ended September 30, 2014 reflects the historical operations of the Predecessor for the period from January 1, 2014 through April 20, 2014 and the historical results of operations of the Company for the period from April 21, 2014 through September 30, 2014 and are presented as if the IPO and related Formation Transactions, and the acquisitions of Plaza 25, Lake Vista Pointe and Florida Research Park properties were completed on January 1, 2013.

Pro forma information is intended to provide investors with information about the impact of transactions by showing how specific transactions might have affected historical financial statements, illustrating the scope of the change in the historical financial position and results of operations. The adjustments made to historical financial information give effect to events that are directly attributable to the acquisition of the property and are factually supportable. The unaudited Pro Forma Consolidated Financial Statements are prepared in accordance with Article 11 of Regulation S-X.

The unaudited Pro Forma Consolidated Financial Statements set forth below are not fact and there can be no assurance that the Company’s results would not have differed significantly from those set forth below if the acquisition had actually occurred on January 1, 2013. Accordingly, the unaudited Pro Forma Consolidated Financial Statements are presented for illustrative purposes only and do not purport to represent, and are not necessarily indicative of, what our actual financial position and results of operations would have been had the acquisition of the property occurred on the dates indicated, nor are they indicative of our future financial position or results of operations. Readers are cautioned not to place undue reliance on such information and the Company makes no representations regarding the information set forth below or its ultimate performance compared to it. The unaudited Pro Forma Consolidated Financial Statements exclude any non-recurring charges or credits directly attributable to the acquisition.

City Office REIT, Inc.

Notes and Management’s Assumption to Unaudited Pro Forma Consolidated

Financial Statements

Basis of Pro Forma Presentation

1. Notes to the Unaudited Pro Forma Consolidated Balance Sheet as of September 30, 2014

(A) The acquisition of the Florida Research Park was accounted for using preliminary estimates of the fair value of the tangible and intangible assets acquired and liabilities assumed in connection with the acquisition and are therefore subject to change.

(B) Reflects the working capital acquired and assumed through the Florida Research Park acquisition.

(C) Reflects the cash paid, mortgage loan, borrowings under the Secured Credit Facility and related deferred financing costs established upon the acquisition of Florida Research Park.

2. Notes to the Unaudited Pro Forma Consolidated Statements of Operations for the nine month period ended September 30, 2014 and the year ended December 31, 2013

Revenues and property expenses for the Florida Research Park acquisition are based on the historical operations under the previous owners’ ownership. Pro Forma adjustments include estimated depreciation expense and interest expense. Depreciation expense is based on the preliminary estimates of fair value for the tangible and intangible assets acquired and is therefore subject to change. Interest expenses related to the Company borrowings, under the mortgage loan, are at a fixed rate of 4.44% .

3. Third Quarter Acquisition – Lake Vista Pointe

During the third quarter of 2014, the Company acquired the Lake Vista Pointe property. Financial results for the year ended December 31, 2013 and other information relating to the Lake Vista Pointe acquisition was included in a previously filed form 8-K/A, filed on October 2, 2014. Financial results for the nine months ended September 30, 2014 and the year ended December 31, 2013, related to the Lake Vista Pointe property prior to its acquisition on July 18, 2014, represents the results of operations under the previous owners on a Pro Forma basis, with the exception of depreciation expense which has been based on the preliminary estimates of fair value for the tangible and intangible assets acquired. Financial results since the acquisition are included in the Company’s historical consolidated results of the operations for the nine months ended September 30, 2014.

4. Second Quarter Acquisition – Plaza 25

During the second quarter of 2014, the Company acquired the Plaza 25 property. Financial results for the year ended December 31, 2013 and other information relating to the Plaza 25 acquisition was included in a previously filed form 8-K/A, filed on August 8, 2014. Financial results for the nine months ended September 30, 2014 and the year ended December 31, 2013, related to the Plaza 25 property prior to its acquisition on June 4, 2014, represents the results of operations under the previous owners on a Pro Forma basis, with the exception of depreciation expense which has been based on the preliminary estimates of fair value for the tangible and intangible assets acquired. Financial results since the acquisition are included in the Company’s historical consolidated results of the operations for the nine months ended September 30, 2014.

5. Other Pro Forma Adjustments

(AA) City Office will pay the advisor an advisory fee in accordance with the advisory agreement. The adjustment reflects the pro-forma impact as the IPO and related Formation Transactions are presented as if they occurred on January 1, 2014.

(BB) Reflects a pro rata portion of the expense of stock-based compensation to be granted to the Advisor as part of the formation transactions for the periods presented. The expense will be amortized over the vesting period.

(CC) Reflects the estimated costs to operate the entity as a public company comprised of insurance, directors, public reporting and other miscellaneous costs.

(DD) Reflects the reduction of interest expense from the repayment of mortgage debt upon consummation of the IPO. Additionally, reflects the increase in interest expense for the periods presented on the $95 million and $23.5 million mortgage loans to be guaranteed by the Operating Partnership as to certain “non-recourse covenants” and secured by a mortgage on the fee simple interest in the Cherry Creek Corporate Campus, City Center and Corporate Parkway properties and the AmberGlen properties. A secured revolving credit facility of $30 million authorized with $26.4 million available immediately, was obtained following the formation. Pro forma also reflects the amortization of the associated financing costs on the mortgage loans and the secured revolving credit facility for the periods presented.

In connection with the prepayment of the mortgage loan secured by Cherry Creek Corporate Campus, City Center, Corporate Parkway and Central Fairwinds, $1.1 million of deferred financing costs were written-off. Additionally prepayment costs of approximately $1.7 million were incurred.

(EE) Reflects reversal of gain on equity investment as the acquisition of the remaining 57.7% interest in Cherry Creek is presented as if it occurred on January 1, 2014.

(FF) Reflects reversal of net income attributable to the Predecessor as the IPO and related Formation Transactions are presented as if they occurred on January 1, 2014.