UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 16, 2021

Commission File Number 1-13610

CIM COMMERCIAL TRUST CORPORATION

(Exact name of registrant as specified in its charter)

(State or Other Jurisdiction of Incorporation or Organization)

17950 Preston Road, Suite 600, Dallas, TX 75252 (972) 349-3200

(Address of Principal Executive Offices) (Registrant's telephone number)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, \$0.001 Par Value	CMCT	Nasdaq Global Market
Common Stock, \$0.001 Par Value	CMCT-L	Tel Aviv Stock Exchange
Series L Preferred Stock, \$0.001 Par Value	CMCTP	Nasdaq Global Market
Series L Preferred Stock, \$0.001 Par Value	CMCTP	Tel Aviv Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Maryland 75-6446078

(I.R.S. Employer Identification No.)

None

Item 2.02 Results of Operations and Financial Condition

On March 16, 2021, CIM Commercial Trust Corporation (the "Company") issued a press release announcing its financial results for the year ended December 31, 2020. A copy of the press release is attached to this Form 8-K as Exhibit 99.1 and is incorporated by reference herein.

The information in this Item 2.02 and Exhibit 99.1 are being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 7.01 Regulation FD Disclosure

A copy of the Company's Q4 2020 Investor Presentation is attached to this Form 8-K as Exhibit 99.2 and is incorporated by reference herein. Additionally, the Company has posted a copy of the presentation on its Shareholder Relations page at http:// shareholders.cimcommercial.com/.

The information in this Item 7.01 and Exhibit 99.2 are being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits

Exhibit Number	Exhibit Description
99.1	Press release, dated March 16, 2021, regarding the Company's financial results for the year ended December 31,
	2020.
99.2	Investor Presentation Q4 2020.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CIM COMMERCIAL TRUST CORPORATION

Dated: March 16, 2021 By: /s/ NATHAN D. DEBACKER Nathan D. DeBacker Chief Financial Officer

CIM Commercial Trust Corporation Reports 2020 Fourth Quarter Results

Dallas — (March 16, 2021) CIM Commercial Trust Corporation (NASDAQ: CMCT and TASE: CMCT-L) ("we", "our", "CMCT", "CIM Commercial", or the "Company"), a real estate investment trust ("REIT") that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving metropolitan communities throughout the United States (including improving and developing such assets), today reported operating results for the three months and year ended December 31, 2020.

Fourth Quarter 2020 Highlights

Annualized rent per occupied square foot(1) on a same-store(2) basis increased 5.8% to \$50.96 as of December 31, 2020 compared to \$48.18 as of December 31, 2019.
Our same-store(2) office portfolio was 80.3% leased as of December 31, 2020 compared to 87.0% as of December 31, 2019. In December 2020, we executed a lease for the entire newly constructed two-story office building of approximately 44,000 square feet, located at our Penn Field office campus located at 3601 South Congress Avenue in Austin.
During the fourth quarter of 2020, we executed 67,112 square feet of leases with terms longer than 12 months, of which 22,941 square feet were recurring leases executed at our same-store(2) office portfolio, representing same-store(2) cash rent growth per square foot of 3.9%.
Net loss attributable to common stockholders was \$8.9 million, or \$(0.60) per diluted share, for the fourth quarter of 2020 compared to \$11.6 million, or \$(0.79) per diluted share, for the fourth quarter of 2019.
Same-store(2) office segment net operating income(3) ("NOI") decreased 8.9%, while same-store(2) office cash NOI(4) increased 2.2%, for the fourth quarter of 2020 as compared to the corresponding period in 2019. The increase in same-store(2) office cash NOI(4) is primarily due to the expiration of a free rent period during the year ended December 31, 2020 at an office property in Los Angeles, California.
Funds from operations ("FFO") attributable to common stockholders(5) was \$(3.2) million, or \$(0.21) per diluted share, for the fourth quarter of 2020 compared to \$(6.2) million, or \$(0.42) per diluted share, for the fourth quarter of 2019.
Core FFO attributable to common stockholders(6) was \$(3.1) million, or \$(0.21) per diluted share, for the fourth quarter of 2020 compared to \$(346,000), or \$(0.02) per diluted share, for the fourth quarter of 2019.

Management Commentary

"While the pandemic continues to impact our near-term results, we believe we have a significant opportunity to increase same-store net operating income over the next several years." said David Thompson, Chief Executive Officer of CIM Commercial.

"In December 2020, we executed a lease for our entire newly constructed office building in Austin at rents that exceed our previously disclosed return on cost target of 8%. We utilized the broad expertise of CIM Group's vertically-integrated team to collaborate on the development and leasing of this asset. We believe we have an opportunity to continue to grow our Austin operations. We also expect to benefit from a recovery at our hotel in Sacramento, a pickup in origination activity in our lending business and the lease up of our office assets in Los Angeles. In addition to our focus on optimizing the cash flows of our high-quality portfolio, we will continue to explore ways to improve scale in order to create value for our shareholders."

The steps we took in 2020 to adapt to the difficult business environment in which we operate and to strengthen our business to position it to thrive post COVID-19 include (i) reducing our corporate overhead expenses by realigning certain support functions and reducing employee compensation at CIM Group, including not appointing a replacement for our President who retired during the third quarter, (ii) focusing on appropriate cost-reduction measures at our properties, (iii) temporarily suspending the vast majority of activities related to the repositioning of our office building at 4750 Wilshire Boulevard in Los Angeles, California and renovations at the Sheraton Grand Hotel in Sacramento, California, (iv) increasing liquidity by entering into a new unsecured revolving credit facility in May, accessing the Federal Reserve Paycheck Protection Program Liquidity Facility in June and entering into an amendment to our existing revolving credit facility in September, and (v) amending our Master Services Agreement to replace the base service fee with an incentive fee.

Financial Highlights

As of December 31, 2020, our real estate portfolio consisted of 12 assets, all of which were fee-simple properties. The portfolio included nine office properties and one development site, which is being used as a parking lot, totaling approximately 1.3 million rentable square feet, and one 503-room hotel with an ancillary parking garage. We also own and operate a lending business.

Fourth Quarter 2020

Net loss attributable to common stockholders was \$8.9 million, or \$(0.60) per diluted share of common stock, for the three months ended December 31, 2020, compared to \$11.6 million, or \$(0.79) per diluted share of common stock, for the three months ended December 31, 2019. The decrease is primarily attributable to a decrease of \$5.9 million in redeemable preferred stock redemptions related to the Series L Preferred Stock tender offer that was completed in November 2019 and a decrease of \$804,000 in expense reimbursements to related parties—corporate, partially offset by a decrease of \$4.1 million in segment NOI(3) (primarily as a result of the adverse impact of COVID-19).

FFO attributable to common stockholders(5) was \$(3.2) million, or \$(0.21) per diluted share of common stock, for the three months ended December 31, 2020, compared to \$(6.2) million, or \$(0.42) per diluted share of common stock, for the three months ended December 31, 2019. The increase in FFO attributable to common stockholders(5) is primarily attributable to a decrease of \$5.9 million in redeemable preferred stock redemptions related to the Series L Preferred Stock tender offer that was completed in November 2019 and a decrease of \$804,000 in expense reimbursements to related parties—corporate (primarily as a result of cost-cutting measures implemented by CMCT's operator), partially offset by a decrease of \$4.1 million in segment NOI(3) (primarily as a result of the adverse impact of COVID-19).

Core FFO attributable to common stockholders(6) was \$(3.1) million, or \$(0.21) per diluted share of common stock, for the three months ended December 31, 2020, compared to \$(346,000), or \$(0.02) per diluted share of common stock, for the three months ended December 31, 2019. The decrease in core FFO attributable to common stockholders(6) is primarily attributable to a decrease of \$4.1 million in segment NOI(3) (primarily as a result of the adverse impact of COVID-19), partially offset by a decrease of \$804,000 in expense reimbursements to related parties—corporate (primarily as a result of cost-cutting measures implemented by CMCT's operator).

Year Ended 2020

Net loss attributable to common stockholders was \$33.5 million, or \$(2.27) per diluted share of common stock, for the year ended December 31, 2020, compared to net income attributable to common stockholders of \$322.7 million, or \$19.74 per diluted share of common stock, for the year ended December 31, 2019.

FFO attributable to common stockholders(5) was \$(12.1) million, or \$(0.82) per diluted share of common stock, for the year ended December 31, 2020, compared to \$(14.0) million, or \$(0.96) per diluted share of common stock, for the year ended December 31, 2019.

Core FFO attributable to common stockholders(6) was \$(11.3) million, or \$(0.77) per diluted share of common stock, for the year ended December 31, 2020, compared to \$20.9 million, or \$1.44 per diluted share of common stock, for the year ended December 31, 2019.

Segment Information

Our reportable segments during the three months ended December 31, 2020 and 2019 consisted of two types of commercial real estate properties, namely, office and hotel, as well as a segment for our lending business. Net loss attributable to common stockholders was \$8.9 million, or \$(0.60) per diluted share of common stock, for the three months ended December 31, 2020, compared to \$11.6 million, or \$(0.79) per diluted share of common stock, for the three months ended December 31, 2019. Total segment NOI(3) was \$7.4 million for the three months ended December 31, 2020, compared to \$11.5 million for the three months ended December 31, 2019.

Office

Same-Store

Same-store(2) office segment NOI(3) decreased 8.9% while same store-store(2) office cash NOI(4) increased 2.2% for the three months ended December 31, 2020 compared to the three months ended December 31, 2019. The decrease in same-store(2) office segment NOI(3) is primarily due to lower revenues due to decreased occupancy at an office property in Beverly Hills, California and an office property in Austin, Texas, partially offset by decreased administrative expenses at an office property in Los Angeles, California.

At December 31, 2020, the Company's same-store(2) office portfolio was 79.1% occupied, a decrease of 760 basis points year-overyear on a same-store(2) basis, and 80.3% leased, a decrease of 670 basis points year-over-year on a same-store(2) basis. The annualized rent per occupied square foot(1) on a same-store(2) basis was \$50.96 at December 31, 2020 compared to \$48.18 at December 31, 2019. During the three months ended December 31, 2020, the Company executed 22,941 square feet of recurring leases at our same-store(2) office portfolio, representing same-store(2) cash rent growth per square foot of 3.9%.

Total

Office segment NOI(3) decreased to \$7.0 million for the three months ended December 31, 2020, from \$7.5 million for the three months ended December 31, 2019. The decrease is primarily due to lower revenues as a result of decreased occupancy at an office property in Beverly Hills, California and an office property in Austin, Texas, partially offset by decreased administrative expenses at an office property in Los Angeles, California.

Hotel

Hotel segment NOI(3) decreased to \$(393,000) for the three months ended December 31, 2020, from \$2.5 million for the three months ended December 31, 2019, due to a decrease in occupancy, average daily rate, and food, beverage, and other sundry hotel services as a result of the outbreak of COVID-19.

Lending

Our lending segment primarily consists of our SBA 7(a) lending platform, which is a national lender that primarily originates loans to small businesses in the hospitality industry. Lending segment NOI(3) was \$787,000 for the three months ended December 31, 2020, compared to \$1.5 million for the three months ended December 31, 2019. The decrease is due to a decrease in interest income resulting from a decrease in the prime rate.

Debt and Equity

During the three months ended December 31, 2020, we issued 394,364 shares of Series A Preferred Stock and 408 shares of Series D Preferred Stock for aggregate net proceeds of approximately \$9.1 million. Net proceeds represent gross proceeds offset by costs specifically identifiable to the offering of Series A Preferred Stock and Series D Preferred Stock, such as commissions, dealer manager fees, and other offering fees and expenses.

Dividends

On December 2, 2020, we declared a quarterly cash dividend of \$0.0750 per share of our common stock, which was paid on December 29, 2020 to stockholders of record at the close of business on December 14, 2020.

In addition, we declared an annual cash dividend of \$1.56035 per share of our Series L Preferred Stock, which was paid on January 19, 2021 to stockholders of record at the close of business on December 31, 2020.

On December 2, 2020, we declared a quarterly cash dividend of \$0.34375 per share of our Series A Preferred Stock, or portion thereof for issuances during the period from January 1, 2021 to March 30, 2021. As a result, \$0.114583 per share was paid on February 16, 2021 to holders of record of Series A Preferred Stock at the close of business on February 5, 2021, \$0.114583 per share was paid on March 15, 2021 to holders of record of Series A Preferred Stock at the close of business on March 5, 2021, and \$0.1145833 per share will be paid on April 15, 2021 to holders of record of Series A Preferred Stock at the close of business on April 5, 2021.

On December 2, 2020, we declared a quarterly cash dividend of \$0.35313 per share of our Series D Preferred Stock, or portion thereof for issuances during the period from January 1, 2021 to March 30, 2021. As a result, \$0.117708 per share was paid on February 16, 2021 to holders of record of Series D Preferred Stock at the close of business on February 5, 2021, \$0.117708 per share was paid on March 15, 2021 to holders of record of Series D Preferred Stock at the close of business on March 5, 2021, and \$0.117708 per share will be paid on April 15, 2021 to holders of record of Series D Preferred Stock at the close of business on April 5, 2021.

About CIM Commercial

CIM Commercial is a real estate investment trust that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving metropolitan communities throughout the United States. Its properties are primarily located in Los Angeles and the San Francisco Bay Area. CIM Commercial is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities (www.cimcommercial.com).

Definitions

(1) Annualized rent per occupied square foot represents gross monthly base rent under leases commenced as of the specified periods, multiplied by twelve. This amount reflects total cash rent before abatements. Where applicable, annualized rent has been grossed up by adding annualized expense reimbursements to base rent. Annualized rent for certain office properties includes rent attributable to retail.
(2) Same-store properties are properties that we have owned and operated in a consistent manner and reported in our consolidated results during the entire span of the periods being reported. We excluded from our same-store property set this quarter any properties (i) acquired on or after October 1, 2019; (ii) sold or otherwise removed from our consolidated financial statements on or before December 31, 2020; or (iii) that underwent a major repositioning project we believed significantly affected its results at any point during the period commencing on October 1, 2019 and ending on December 31, 2020. When determining our same-store properties as of December 31, 2020, one property was excluded pursuant to (i), ten properties were excluded pursuant to (ii) above, and no properties were excluded pursuant to (iii) above.
(3) Segment net operating income ("segment NOI"): for our real estate segments represents rental and other property income and expense reimbursements less property related expenses and excludes non-property income and expenses, interest expense, depreciation and amortization, corporate related general and administrative expenses, gain (loss) on sale of real estate, gain (loss) on early extinguishment of debt, impairment of real estate, transaction costs, and provision for income taxes. For our lending segment, segment NOI represents interest income net of interest expense and general overhead expenses. Please see our reconciliations of office, hotel, lending, and total cash NOI to segment NOI and net income (loss) attributable to common stockholders starting on page 11.
(4) Cash net operating income ("cash NOI"): for our real estate segments represents segment NOI adjusted to exclude the effect of the straight lining of rents, acquired above/below market lease amortization and other adjustments required by generally accepted accounting principles ("GAAP"). For our lending segment, there is no distinction between cash NOI and segment NOI. Please see our reconciliations of office, hotel, lending, and total cash NOI to segment NOI and net income (loss) attributable to common stockholders starting on page 11.
(5) FFO attributable to common stockholders represents net income (loss) attributable to common stockholders, computed in accordance with GAAP, which reflects the deduction of redeemable preferred stock dividends accumulated, excluding gains (or losses) from sales of real estate, impairment of real estate, and real estate depreciation and amortization. We calculate FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (the "NAREIT"). Please see our reconciliations of net income (loss) attributable to common stockholders to FFO attributable to common stockholders starting on page 9, and the discussion of the benefits and limitations of FFO as a supplemental measure of operating performance.
(6) Core FFO attributable to common stockholders ("core FFO") represents FFO attributable to common stockholders (computed as described above), excluding gain (loss) on early extinguishment of debt, redeemable preferred stock redemptions, gain (loss) on termination of interest rate swaps, and transaction costs. Please see our reconciliations of net income (loss) attributable to common stockholders to core FFO starting on page 10, and the discussion of the benefits and limitations of core FFO as a supplemental measure of operating performance.

FORWARD-LOOKING STATEMENTS

This press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), which are intended to be covered by the safe harbors created thereby. Such forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "project," "target," "expect," "intend," "might," "believe," "anticipate," "estimate," "could," "would," "continue," "pursue," "potential," "forecast," "seek," "plan," or "should" or the negative thereof or other variations or similar words or phrases. Such forward-looking statements include, among others, statements about CMCT's plans and objectives relating to future growth and availability of funds, and the trading liquidity of CMCT's common stock. Such forward-looking statements are based on particular assumptions that management of CMCT has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. Forward-looking statements are necessarily estimates reflecting the judgment of CMCT's management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include those associated with (i) the scope, severity and duration of the current pandemic of COVID-19, and actions taken to contain the pandemic or mitigate its impact, (ii) the adverse effect of COVID-19 on the financial condition, results of operations, cash flows and performance of CMCT and its tenants and business partners, the real estate market and the global economy and financial markets, among others, (iii) the timing, form, and operational effects of CMCT's development activities, (iv) the ability of CMCT to raise in place rents to existing market rents and to maintain or increase occupancy levels, (v) fluctuations in market rents, including as a result of COVID-19, and (vi) general economic, market and other conditions. Additional important factors that could cause CMCT's actual results to differ materially from CMCT's expectations are discussed under the section "Risk Factors" in CMCT's Annual Report on Form 10-K for the year ended December 31, 2020. The forward-looking statements included herein are based on current expectations and there can be no assurance that these expectations will be attained. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond CMCT's control. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included herein will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by CMCT or any other person that CMCT's objectives and plans will be achieved. Readers are cautioned not to place undue reliance on forwardlooking statements. Forward-looking statements speak only as of the date they are made. CMCT does not undertake to update them to reflect changes that occur after the date they are made.

For CIM Commercial Trust Corporation

Media Relations: Bill Mendel, 212-397-1030 [email protected]

Shareholder Relations: Steve Altebrando, 646-652-8473 [email protected]

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited and in thousands, except share and per share amounts)

	December 31,
		2020		2019
ASSETS
Investments in real estate, net	\$	506,040	\$	508,707
Cash and cash equivalents		33,636		23,801
Restricted cash		10,013		12,146
Loans receivable, net		83,135		68,079
Accounts receivable, net		1,737		3,520
Deferred rent receivable and charges, net		35,956		34,857
Other intangible assets, net		6,313		7,260
Loan servicing asset, net and other assets		8,787		9,222
TOTAL ASSETS	\$	685,617	\$	667,592
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY
LIABILITIES:
Debt, net	\$	324,313	\$	307,421
Accounts payable and accrued expenses		20,327		24,309
Intangible liabilities, net		587		1,282
Due to related parties		6,706		9,431
Other liabilities		9,733		10,113
Total liabilities		361,666		352,556
COMMITMENTS AND CONTINGENCIES
REDEEMABLE PREFERRED STOCK: Series A cumulative redeemable preferred stock, \$0.001 par value; 36,000,000 shares authorized; 2,008,256 and 2,007,856 shares issued and outstanding, respectively, as of December 31, 2020 and 1,630,821 and 1,630,421 shares issued and outstanding, respectively, as of December 31, 2019; liquidation preference of \$25.00 per share, subject to adjustment		45,837		36,841
EQUITY:
Series A cumulative redeemable preferred stock, \$0.001 par value; 36,000,000 shares authorized; 4,484,376 and 4,377,762 shares issued and outstanding, respectively, as of December 31, 2020 and 2,853,555 and 2,837,094 shares issued and outstanding, respectively, as of December 31, 2019; liquidation preference of \$25.00 per share, subject to adjustment		108,729		70,633
Series D cumulative redeemable preferred stock, \$0.001 par value; 32,000,000 shares authorized; 19,145 shares issued and outstanding as of December 31, 2020 and no shares issued and outstanding as of December 31, 2019; liquidation preference of \$25.00 per share, subject to adjustment		473		—
Series L cumulative redeemable preferred stock, \$0.001 par value; 9,000,000 shares authorized; 8,080,740 and 5,387,160 shares issued and outstanding, respectively, as of December 31, 2020 and 8,080,740 and 5,387,160 shares issued and outstanding as of December 31, 2019; liquidation preference of \$28.37 per share, subject to adjustment		152,834		152,834
Common stock, \$0.001 par value; 900,000,000 shares authorized; 14,827,410 and 14,602,149 shares issued and outstanding as of December 31, 2020 and December 31, 2019, respectively		15		15
Additional paid-in capital		794,127		794,825
Distributions in excess of earnings		(778,519)		(740,617)
Total stockholders' equity		277,659		277,690
Noncontrolling interests		455		505
Total equity		278,114		278,195
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY	\$	685,617	\$	667,592

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Consolidated Statements of Operations (Unaudited and in thousands, except per share amounts)

	Three Months Ended				Year Ended
	December 31,				December 31,
		2020		2019		2020		2019
REVENUES:
Rental and other property income	\$	13,407	\$	15,025	\$	54,823	\$	88,331
Hotel income		1,729		8,546		11,882		35,633
Interest and other income		2,693		3,070		10,503		16,025
Total Revenues		17,829		26,641		77,208		139,989
EXPENSES:
Rental and other property operating		8,715		13,731		37,544		62,928
Asset management and other fees to related parties		2,385		2,625		9,793		13,121
Expense reimbursements to related parties—corporate		177		981		2,243		2,800
Expense reimbursements to related parties—lending segment		910		542		3,491		2,382
Interest		2,709		3,177		11,415		12,175
General and administrative		1,634		1,561		6,772		6,354
Transaction costs		—		(26)		—		574
Depreciation and amortization		5,678		5,379		21,406		27,374
Loss on early extinguishment of debt		—		—		281		29,982
Impairment of real estate		—		—		—		69,000
		22,208		27,970		92,945		226,690
Gain on sale of real estate		—		—		—		433,104
(LOSS) INCOME BEFORE (BENEFIT) PROVISION FOR INCOME TAXES		(4,379)		(1,329)		(15,737)		346,403
Provision (benefit) for income taxes		9		196		(722)		882
NET (LOSS) INCOME		(4,388)		(1,525)		(15,015)		345,521
Net (income) loss attributable to noncontrolling interests		(2)		(13)		(1)		152
NET (LOSS) INCOME ATTRIBUTABLE TO THE COMPANY		(4,390)		(1,538)		(15,016)		345,673
Redeemable preferred stock dividends declared or accumulated		(4,389)		(4,161)		(18,002)		(17,095)
Redeemable preferred stock deemed dividends		(77)		—		(377)		—
Redeemable preferred stock redemptions		(5)		(5,874)		(72)		(5,882)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	\$	(8,861) \$		(11,573) \$		(33,467) \$		322,696
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE: (a)
Basic	\$	(0.60) \$		(0.79) \$		(2.27) \$		22.11
Diluted	\$	(0.60) \$		(0.79) \$		(2.27) \$		19.74
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING: (a)
Basic		14,805		14,598		14,748		14,598
Diluted		14,805		14,599		14,748		16,493

(a) All share and per share amounts have been adjusted to give retroactive effect to the one-for-three reverse stock split of our common stock effected on September 3, 2019.

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Earnings Per Share (Unaudited and in thousands, except per share amounts)

Earnings per share ("EPS") for the year-to-date period may differ from the sum of quarterly EPS amounts due to the required method for computing EPS for the respective periods. In addition, EPS is calculated independently for each component and may not be additive due to rounding. The following table reconciles the numerator and denominator used in computing our basic and diluted pershare amounts for net (loss) income attributable to common stockholders for the three months and the years ended December 31, 2020 and 2019:

	Three Months Ended			Year Ended
	December 31,				December 31,
	2020		2019		2020		2019
Numerator:
Net (loss) income attributable to common stockholders	\$	(8,861) \$		(11,573) \$		(33,467) \$	322,696
Redeemable preferred stock dividends declared on dilutive shares (a)		—		(2)		(1)	2,804
Diluted net (loss) income attributable to common stockholders	\$	(8,861) \$		(11,575) \$		(33,468) \$	325,500
Denominator: (b)
Basic weighted average shares of common stock outstanding		14,805		14,598		14,748	14,598
Effect of dilutive securities—contingently issuable shares (a)		—		1		—	1,895
Diluted weighted average shares and common stock equivalents outstanding		14,805		14,599		14,748	16,493
Net (loss) income attributable to common stockholders per share: (b)
Basic	\$	(0.60) \$		(0.79) \$		(2.27) \$	22.11
Diluted	\$	(0.60) \$		(0.79) \$		(2.27) \$	19.74

(a) For the three months ended December 31, 2020 and the three months and year ended December 31, 2019, the effect of certain shares of redeemable preferred stock were excluded from the computation of diluted net income (loss) attributable to common stockholders and the diluted weighted average shares and common stock equivalents outstanding as such inclusion would be anti-dilutive.

(b) All share and per share amounts have been adjusted to give retroactive effect to the one-for-three reverse stock split of our common stock effected on September 3, 2019.

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Funds from Operations (Unaudited and in thousands, except per share amounts)

We believe that FFO attributable to common stockholders is a widely recognized and appropriate measure of the performance of a REIT and that it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO attributable to common stockholders when reporting their results. FFO attributable to common stockholders represents net income (loss) attributable to common stockholders, computed in accordance with GAAP, which reflects the deduction of redeemable preferred stock dividends accumulated, excluding gains (or losses) from sales of real estate, impairment of real estate, and real estate depreciation and amortization. We calculate FFO attributable to common stockholders in accordance with the standards established by the NAREIT.

Like any metric, FFO attributable to common stockholders should not be used as the only measure of our performance because it excludes depreciation and amortization and captures neither the changes in the value of our real estate properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effect and could materially impact our operating results. Other REITs may not calculate FFO attributable to common stockholders in accordance with the standards established by the NAREIT; accordingly, our FFO attributable to common stockholders may not be comparable to the FFO attributable to common stockholders of other REITs. Therefore, FFO attributable to common stockholders should be considered only as a supplement to net income (loss) as a measure of our performance and should not be used as a supplement to or substitute measure for cash flows from operating activities computed in accordance with GAAP. FFO attributable to common stockholders should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends. The following table sets forth a reconciliation of net income (loss) attributable to common stockholders to FFO attributable to common stockholders for the three months and the years ended December 31, 2020 and 2019:

	Three Months Ended		Year Ended
	December 31,		December 31,
	2020		2019	2020		2019
Numerator:
Net (loss) income attributable to common stockholders	\$	(8,861) \$	(11,573) \$		(33,467) \$	322,696
Depreciation and amortization		5,678	5,379		21,406	27,374
Impairment of real estate		—	—		—	69,000
Gain on sale of depreciable assets		—	—		—	(433,104)
FFO attributable to common stockholders	\$	(3,183) \$	(6,194) \$		(12,061) \$	(14,034)
Redeemable preferred stock dividends declared on dilutive shares (a)		—	(2)		(1)	(3)
Dilutive FFO attributable to common stockholders	\$	(3,183) \$	(6,196) \$		(12,062) \$	(14,037)
Denominator (b):
Basic weighted average shares of common stock outstanding		14,805	14,598		14,748	14,598
Effect of dilutive securities-contingently issuable shares (a)		—	1		—	1
Diluted weighted average shares and common stock equivalents outstanding		14,805	14,599		14,748	14,599
FFO attributable to common stockholders per share (b)
Basic	\$	(0.21) \$	(0.42) \$		(0.82) \$	(0.96)
Diluted	\$	(0.21) \$	(0.42) \$		(0.82) \$	(0.96)

(a) For the three months and the years ended December 31, 2020 and 2019, the effect of certain shares of redeemable preferred stock were excluded from the computation of diluted FFO attributable to common stockholders and the diluted weighted average shares and common stock equivalents outstanding as such inclusion would be anti-dilutive.

(b) All share and per share amounts have been adjusted to give retroactive effect to the one-for-three reverse stock split of our common stock effected on September 3, 2019.

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Core Funds from Operations (Unaudited and in thousands, except per share amounts)

In addition to calculating FFO attributable to common stockholders in accordance with the standards established by NAREIT, we also calculate a supplemental FFO metric we call core FFO attributable to common stockholders. Core FFO attributable to common stockholders represents FFO attributable to common stockholders, computed in accordance with NAREIT's standards, excluding losses (or gains) on early extinguishment of debt, redeemable preferred stock redemptions, gains (or losses) on termination of interest rate swaps, and transaction costs. We believe that core FFO is a useful metric for securities analysts, investors and other interested parties in the evaluation of our Company as it excludes from FFO the effect of certain amounts that we believe are non-recurring, are non-operating in nature as they relate to the manner in which we finance our operations, or transactions outside of the ordinary course of business.

Like any metric, core FFO should not be used as the only measure of our performance because, in addition to excluding those items prescribed by NAREIT when calculating FFO, it excludes amounts incurred in connection with non-recurring special projects, prepaying or defeasing our debt and repurchasing our preferred stock, all of which have real economic effect and could materially impact our operating results. Other REITs may not calculate core FFO in the same manner as we do, or at all; accordingly, our core FFO may not be comparable to the core FFOs of other REITs that calculate such a metric. Therefore, core FFO should be considered only as a supplement to net (loss) income as a measure of our performance and should not be used as a supplement to or substitute measure for cash flows from operating activities computed in accordance with GAAP. Core FFO should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends. The following table sets forth a reconciliation of net (loss) income attributable to common stockholders to core FFO attributable to common stockholders for the three months and the years ended December 31, 2020 and 2019:

	Three Months Ended		Year Ended
	December 31,		December 31,
	2020	2019	2020	2019
Numerator:
Net (loss) income attributable to common stockholders	\$ (8,861) \$	(11,573) \$	(33,467) \$	322,696
Depreciation and amortization	5,678	5,379	21,406	27,374
Impairment of real estate	—	—	—	69,000
Gain on sale of depreciable assets	—	—	—	(433,104)
FFO attributable to common stockholders	\$ (3,183) \$	(6,194) \$	(12,061) \$	(14,034)
Loss on early extinguishment of debt	—	—	281	29,982
Redeemable preferred stock redemptions	5	5,874	72	5,882
Redeemable preferred stock deemed dividends	77	—	377	—
(Gain) loss on termination of interest rate swaps	—	—	—	(1,486)
Transaction costs	—	(26)	—	574
Core FFO attributable to common stockholders	\$ (3,101) \$	(346) \$	(11,331) \$	20,918
Redeemable preferred stock dividends declared on dilutive shares (a)	—	(2)	(1)	2,803
Dilutive Core FFO attributable to common stockholders	\$ (3,101) \$	(348) \$	(11,332) \$	23,721
Denominator (b):
Basic weighted average shares of common stock outstanding	14,805	14,598	14,748	14,598
Effect of dilutive securities-contingently issuable shares (a)	—	1	—	1,894
Diluted weighted average shares and common stock equivalents outstanding	14,805	14,599	14,748	16,492
Core FFO attributable to common stockholders per share (b):
Basic	\$ (0.21) \$	(0.02) \$	(0.77) \$	1.43
Diluted	\$ (0.21) \$	(0.02) \$	(0.77) \$	1.44

⁽a) For the three months and the years ended December 31, 2020 and 2019, the effect of certain shares of redeemable preferred stock were excluded from the computation of diluted FFO attributable to common stockholders and the diluted weighted average shares and common stock equivalents outstanding as such inclusion would be anti-dilutive.

⁽b) All share and per share amounts have been adjusted to give retroactive effect to the one-for-three reverse stock split of our common stock effected on September 3, 2019.

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Reconciliation of Net Operating Income (Unaudited and in thousands)

We internally evaluate the operating performance and financial results of our real estate segments based on segment NOI, which is defined as rental and other property income and expense reimbursements less property related expenses and excludes non-property income and expenses, interest expense, depreciation and amortization, corporate related general and administrative expenses, gain (loss) on sale of real estate, gain (loss) on early extinguishment of debt, impairment of real estate, transaction costs, and provision for income taxes. For our lending segment, we define segment NOI as interest income net of interest expense and general overhead expenses. We also evaluate the operating performance and financial results of our operating segments using cash basis NOI, or "cash NOI". For our real estate segments, we define cash NOI as segment NOI adjusted to exclude the effect of the straight lining of rents, acquired above/below market lease amortization and other adjustments required by GAAP.

Segment NOI and cash NOI are not measures of operating results or cash flows from operating activities as measured by GAAP and should not be considered alternatives to income from continuing operations, or to cash flows as a measure of liquidity, or as an indication of our performance or of our ability to pay dividends. Companies may not calculate segment NOI or cash NOI in the same manner. We consider segment NOI and cash NOI to be useful performance measures to investors and management because, when compared across periods, they reflect the revenues and expenses directly associated with owning and operating our properties and the impact to operations from trends in occupancy rates, rental rates and operating costs, providing a perspective not immediately apparent from income from continuing operations. Additionally, we believe that cash NOI is helpful to investors because it eliminates straight line rent and other non-cash adjustments to revenue and expenses.

Below is a reconciliation of cash NOI to segment NOI and net income (loss) attributable to the Company for the three months ended December 31, 2020 and 2019:

	Three Months Ended December 31, 2020
	Same-Store Office			Non-Same Store Office	Total Office		Hotel		Lending		Total

Cash net operating income (loss) excluding lease termination income	\$	7,148	\$	20	\$	7,168	\$	(391) \$	787	\$	7,564
Cash lease termination income		—		—		—		—	—		—
Cash net operating income (loss)		7,148		20		7,168		(391)	787		7,564
Deferred rent and amortization of intangible assets, liabilities, and lease inducements		(206)		(1)		(207)		(2)	—		(209)
Straight line lease termination income		78		—		78		—	—		78
Segment net operating income (loss)		7,020		19		7,039		(393)	787		7,433
Interest and other income											6
Asset management and other fees to related parties											(2,385)
Expense reimbursements to related parties — corporate											(177)
Interest expense											(2,491)
General and administrative											(1,087)
Transaction costs											—
Depreciation and amortization											(5,678)
Loss before provision for income taxes											(4,379)
Provision for income taxes											(9)
Net loss											(4,388)
Net income attributable to noncontrolling interests											(2)
Net loss attributable to the Company										\$	(4,390)

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Reconciliation of Net Operating Income (Continued) (Unaudited and in thousands)

	Three Months Ended December 31, 2019
	Same-Store Office			Non-Same Store Office	Total Office		Hotel		Lending		Total

Cash net operating income (loss) excluding lease termination income	\$	6,995	\$	(220) \$	6,775	\$	2,522	\$	1,492	\$	10,789
Cash lease termination income		—		—	—		—		—		—
Cash net operating income (loss)		6,995		(220)	6,775		2,522		1,492		10,789
Deferred rent and amortization of intangible assets, liabilities, and lease inducements		708		—	708		—		—		708
Segment net operating income (loss)		7,703		(220)	7,483		2,522		1,492		11,497
Interest and other income											103
Asset management and other fees to related parties											(2,625)
Expense reimbursements to related parties — corporate											(981)
Interest expense											(2,846)
General and administrative											(1,124)
Transaction costs											26
Depreciation and amortization											(5,379)
Loss before provision for income taxes											(1,329)
Provision for income taxes											(196)
Net loss											(1,525)
Net income attributable to noncontrolling interests											(13)
Net loss attributable to the Company										\$	(1,538)

Important Disclosures

Free Writing Prospectus | CIM Commercial Trust Corporation Investor Presentation Q4 2020

Filed Pursuant to Rule 433 | Dated March 16, 2021 | Registration Statement No. 333-233255

CIM Commercial Trust Corporation ("CMCT") has filed a registration statement (including a base prospectus) with the Securities and Exchange Commission (the "SEC") for the offering of Series A Preferred Stock and Series D Preferred Stock to which this communication relates. Before you invest, you should read the base prospectus, dated December 4, 2019, in that registration statement, the prospectus supplement for the Series A Preferred Stock and Series D Preferred Stock, dated January 28, 2020, as supplemented by Supplement No. 5, thereto, dated January 29, 2021 and other documents CMCT has filed with the SEC for more complete information about CMCT and the offering. You may request to receive a prospectus by calling toll-free at 1-866-341-2653.

Reverse Stock Split

On September 3, 2019, CMCT effected a 1-for-3 reverse stock split (the "Reverse Stock Split") on its common stock, par value \$0.001 per share. Unless otherwise specified, all CMCT common stock and CMCT common stock per share amounts set forth in this presentation have been adjusted to give retroactive effect to the Reverse Stock Split.

Important Disclosures

Forward-looking Statements

The information set forth herein contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act''), which are intended to be covered by the safe harbors created thereby. Such forward-looking statements can be identified by the use of forward-looking terminology such as "may" "will," "project," "expect," "intend," "might," "believe," "anticipate," "could," "wonld," "continue," "potential," "potential,"
"forecast," "seek," "plan," or "should" or the negati statements include, among others, statements about CMCT's plans and objectives relating to future growth and availability of funds, and the trading liquidity of CMCT's common stock. Such forward-looking statements are based on particular assumptions that management of CMCT has made in light of its experience, as well as its perced future developments and other factors that it believes are appropriate under the circumstances. Forward-looking statements are necessarily estimates reflecting the judgment of CMCT's management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include those associated with (i) the scope, severity and duration of the current pandemic of COVID-19, and actions taken to contain the pandemic or mitigate its impact, (ii) the adverse effect of COVID-19 on the financial condition, results of operations, cash flows and performance of CMCT and its tenants and business partners, the real estate market and the global economy and financial markets, among others, (iii) the timing, form, and operational effects of CMCT's development activities, (iv) the ability of CMCT to raise in place rents and to maintain or increase occupancy levels, (v) fluctuations in market rents, including as a result of COVID-19, and (vi) general economic, market and other conditions. Additional important factors that could cause CMCT's actual results to differ materially from CMCT's expectations are discussed under the sectors" in CMCT's Annual Report on Form 10-K for the year ended December 31, 2020. The forward-looking statements included herein are based on current expectations and there can be no assurance that these expectations will be attained. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond CMCT's control. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included herein will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements inclusion of such information should not be regarded as a representation by CMCT or any other person that CMCTs objectives and plans will be achieved. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made. CMCT does not undertake to update them to reflect changes that occur after the date they are made.

CIM Commercial Trust

CMCT

NASDAQ: CMCT | TASE: CMCT-L

Owner and operator of Class A and creative office assets in vibrant and improving metropolitan communities

Austin development placed in service in 2Q20. Redevelopments in California were suspended due to COVID-19. See pages 20-22 for more information

As of September 30, 2020. See Important Information on page 31.
Includes CIM Group and its affiliates, as well as officers and directors of CMCT. 3. 4.

ercial.com | @2020 CMCT | CMCT CM Corporation | Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SPC

COVID-19 Update - Taking Proactive Steps

Repesents il nor adieding through March 2021, whith accomed for 97% of che periods presented.
Replaced with heative feat MCT does not antigate paying hour infornation, see t

CMCT

CIM Commercial Trust - Key Investment Highlights

CMCT

Employe Court as of 1231/2020.
Corporate of in orange on map. Afillated offices typically have smaller, dedicated resources (i.e., Distribution). Sydney office is through a 3.

Creating Value. Enhancing Communities.

Through the execution of transformative projects over 25+ years, CIM has established a track record of creating value for stakeholders while making a positive difference in communities.

Team	Community	Discipline	Trusted Partner	Experience
1,000+ employees in a vertically integrated team	135 CIM "Qualified Communities" across the Americas with capital deployed in 75	CIM has never defaulted on a loan or given a property back to a lender3	170+ global institutional investors and \$29.3B of assets owned and operated®	25+ years of experience as an owner, operator, lender and developer
Core in-house capabilities include acquisition, credit analysis, development, finance, leasing, onsite property management and distribution Expertise across the capital stack and in multiple markets, asset classes and strategies Extensive experience sourcing, executing and restructuring deals and delivering creative solutions	Distinctive community qualification process with local expertise in each Qualified Community Proprietary deal sourcing through local relationships, partners and stakeholders resulting in 70% of investments sourced off- market" Invests at least \$100 million in each community, using broad real asset expertise to tailor projects to the community's needs	Reliance on sound business plan execution, not financial engineering Disciplined approach to positioning assets for long- term success, including rigorous underwriting and credit analysis processes, conservative leverage and controlled capital deployment CIM's opportunistic, stabilized and infrastructure strategies average 43%, 30% and 31% leverage ratios, "13 respectively	Seasoned partner with strong, long-standing relationships with industry owners, operators, developers and institutional investors Long-standing, deep and broad relationships with more than 50 of the largest banking and lending groups in North America Capability to handle complicated projects and structures	Led more than \$60 billion of projects - with approximately \$30 billion realized - across three primary asset classes Holistic, sector agnostic approach helps position each project for success and serves as a critical component of our ability to enhance communities and create value Successfully navigated diverse market cycles Completed landmark projects in cities across the Americas

Past performance is no guarantee of future results.

As of 12/31/2020 1-

Off-market percentage based on invested equity across all CIM investments. 2.

ClM and its affiliated entities as a borrover.
Includes opportunistic funds CM IV, VII, and CUI, and infrastructure finds CM V and Infra II. Leverage ratio is defined as d 3. 4. value. Debt represents the outstanding principal anount for band, not aking into consideration ary unamortized loan costs or mark-to-narket change in the valuation of the loan.
As of 9/30/20.

Community Based Investment Approach

CMCT

Canada CIM pre-qualifies specific transitional and thriving communities through a bottom-up, research-driven approval process prior to United States making any real estate or infrastructure investments on behalf of its funds or partners. 0 860+ 135 Assets Across the Americas Qualified Communities, Capital Deployed in 75 Real Estate Infrastructure Digital 0 CIM Qualified Com Office 51 Assets 12.7mm SF 146 MW 1.5M SF (Data Centers) Net-Lease Assets 500,000 Acre/Feet Retail 46 Assets 6.2mm SF of Water Storage Waste/Water Credit Industrial 2.7mm SF 7 Assets 7,900+ Tons of Waste Real Asset Transport/ 55+ Assets 10.1mm SF Multifamily 87 Assets 20.4mm SF 8,740+ Parking Spaces Lending Social Hospitality 6 Assets 2.8mm SF Renewables 3+ GW Net-Lease 665+ Assets 30.3mm SF

Please note, changes in global, national or local economic, demographic or capital market conditions (including as a result of the ovel strain of coronavirus that began in the fourth quarter of 2019 ("CVVD-19") can have a significant negative impact on real assets. Past performance is no guarantee of future results. Data as of 93/20.

For more than 25 years, CIM has demonstrated the ability to realize strong investment-level returns across various market cycles.

Does not include CIM's public, non-listed offerings.

Past performance is no guarantee of future results. 1, Investment the performance of an investment in a fund based on the equity contributed on the investment by the find and distributions and minesment, your indevel condex results from det process or tirid any copial be envired on a appred as
reduction in contingly, are not reated as as follows: () equity contributed s reduced by the and (i) equily discributed is reduced by the anount of regayments on such debt. () temporary working capital) contributions be treated as a reduction in the period the captal is returned to the find and (d) certain anounts re-contributed from the finnt to an investment are deemed to be reductions discributions rather han additions; the effects of (a) - (d) are to reduce the annunt of discributions. Deposits and other precising cash outlows are generally assumed to be contributed to the investment at closing into account investment-level coss, but before taking into account fund-level costs and experses organizational experses management fees, carried interest discributions payable to be naterial. Please noe, changes in global, national, regional or local economic, demographic or capital narket conditions (including as a result of COVD-19) can have a significant negative impact on real assets. Data as of 9/30/20. See definitions on Page 31.

mercial.com | @2020 CMCT | CMCT Corporation | Securties distributed by affiliate broker-clealer: CCO Capital, LC, member: FNRA / SPC

Commitment to ESG

CIM is committed to incorporating Environmental, Social and Governance (ESG) criteria into its business strategies and day-to-day operations while supporting its tenants, employees and communities in these initiatives.

Sustainable & Environmental Initiatives

· For more than 25 years, CIM has developed and operated sustainable infrastructure needed to support growing communities. Key projects include renewable energy, water storage and wasteto-value initiatives.
· CIM is a member of the Principles for Responsible Investment (PRI), a GRESB assessment participant and a partner in the EPA's Energy Star program, with several LEED certified buildings. Additionally, CIM uses Energy Star® consumption tracking at more than 100 properties.
· CIM's water storage solution improves water supply sustainability, while our waste-to-value solution produces an alternative to petroleum-based products, cuts carbon emission and frees up landfills.

ESG Committee

Comprised of leaders from across the organization, CIM's ESG committee supports and elevates CIM's sustainability efforts. The committee authored CIM's formal ESG policy, which details the organization's continued commitment to incorporate ESG best practices into each new project and ongoing.

CIMpact

· CIMpact coordinates grassroots initiatives and partners with regional and national non-profit organizations to further CIM's positive impact in communities.
. Through CIMpact, CIM supports and encourages corporate and employee-led voluntary community service activities on both local and national levels.

Diversity & Inclusion Council

· Through employee education and reporting, as well as community outreach, the Diversity & Inclusion Council plays a crucial role in CIM's effort to encourage employees to honor and celebrate diversity in relationships with each other and all those it serves.

Resources & Expertise of Institutional Owner Operator CCMCT

CMCT Management

David Thompson СМСТ СЕО

11th Year at CIM

· Previously spent 15 years with Hilton Hotels Corporation, most recently as Senior Vice President and Controller
· Began career as a C.P.A. at Arthur Andersen & Co.

Nathan DeBacker смст сро

3rd Year at CIM

· Previously was Senior Vice President and Chief Financial Officer of Cole REITs, at VEREIT · Began career as an
auditor at Ernst & Young

Richard Ressler CIM Group Principal CMCT Chairman of the Board

27th Year at CIM

· Founder of Orchard Capital and Chairman of Executive Committee of CIM Group, Orchard First Source Asset Management and OCV
· Chairman of the Board of J2 Global (NASDAQ: JCOM); previously served as CEO Previously worked at .
Drexel Burnham Lambert and began his career as an attorney with Cravath, Swaine and Moore

CIM Group Co-Founders

Avi Shemesh CIM Group Principal CMCT Board Member

27th Year at CIM

· Previously Co-Founder of Dekel Development, a developer of commercial and multifamily properties in Los Angeles

Shaul Kuba CIM Group Principal CMCT Board Member

27th Year at CIM

Previously involved in a number of successful entrepreneurial real estate activities, including Dekel Development (Los Angeles commercial
and multifamily developer)

1 Alignment of Interests

	CIM Group Commitment to CMCT · Insiders' own ~20.5% of CMCT common stock'
Management and Corporate Governance	· CMCT's Board includes CIM Group's three co-founders (Richard Ressler, Avi Shemesh, and Shaul Kuba)
Strong Market Knowledge and Sourcing	· CMCT benefits from CIM Group's identification of Qualified Communities, sourcing capabilities and access to resources of vertically integrated platform
Management Agreement / Master Services Agreement	· Tiered asset management fee based on fair value of real properties and associated assets of CMCT - Quarterly fee assessed as a percentage of assets: - <\$500 million = 0.2500% - \$500 million - \$1,000 million = 0.2375% - \$1,000 million - \$1,500 million = 0.2250% - \$1,500 million - \$4,000 million = 0.2125% - \$4,000 million - \$20,000 million = 0.1000% · Plus reimbursement of shared services at cost (accounting, tax, reporting, etc.) · Permanently eliminated ~\$1.1 million annual base service fee starting in 2Q20 and replaced with an incentive fee. · Incentive fee is 15% of CMCT's quarterly core funds from operations in excess of a quarterly threshold equal to 1.75% (i.e., 7% on an annualized basis) of CMCT's average adjusted common stockholders' equity · CMCT does not anticipate paying an incentive fee through 2021. · Perpetual term
1. Includes CIM Group and its affiliates, as well as officers and directors of CMCT. 2. Based on 14,827,410 shares of CMCT common stock outstanding as of March 11, 2021. March 16, 2021.	3. For more information, see the american color in Master Services Agreement, a copy of which is incorporated by reference son exhibit of MCT's Form 10-Kiled on

CMCT

Transition from Private Fund to High-Quality Public REIT August 2019 - September 2019 Paid \$613 million special dividend (\$42.002 October 2018 per share) to common stockholders ം Announced Program to Unlock · Effectuated 1:3 Reverse Stock Split on the Embedded Value in Our Portfolio ex-dividend date (September 3, 2019) and Improve Trading Liquidity of Our Common Stock September 2016 - December 2017 \$966 million repurchase of CMCT November 2015 - December 2016 common stock (approximately 14.6 million shares @ \$66 per share)12 Sold commercial mortgage loan ു portfolio, commercial real estate lending subsidiary, and three properties for a combined gross sales price of \$217 million February 2005 - June 2006 CIM Group formed CIM REIT with a 24 private institutional investors March 2019 – July 2019 · Completed sale of 10 properties March 2017 - December 2017 for a combined gross sales price of Completed sale of 12 properties \$991 million for a combined sales price of June 2016 \$1,093 million \$210 million tender offer for CMCT common stock (approximately 3.3 million shares @ \$63 per share) March 2014 · CIM REIT completed its merger with PMC Commercial Trust, a publicly traded mortgage REIT Shares were repurchased in three pivated from CM Urban RET. In connection with these stare repurchases, CMCT pad special cash divideris totaling \$6.5

million that allowed the common stockholders that time epurchases to receive the economic benefit of such repurchases. Special rash dividends are not included in the above amount.

Amounts have been adjusted to give retroactive effect to the Reverse Stock Split.

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2 High Quality Class A & Creative Office Portfolio

Growth-Focused Portfolio (As of December 31, 2020)

DITICE.
Location	Sub-Market	Rentable Square Feet ("SE")	96 Occupied	0/0 Leased	Annualized Rent Per Occupied SF
Oakland, CA
Kaiser Plaza	Lake Merritt	537,811	89.1 %	89.1 96	ಕ 45.59
San Francisco, CA
1130 Howard Street	South of Market	21,194	100.0 %	100.0 %	80.73
Los Angeles, CA
11620 Wilshire Boulevard	West Los Angeles	196,229	87.7 %	87.7 %	46.82
4750 Wilshire Boulevard	Mid-Wilshire	140,332	21.6 %	21.6 %	48.00
9460 Wilshire Boulevard	Beverly Hills	97,035	73.5 %	73.5 %	105.03
11600 Wilshire Boulevard	West Los Angeles	56,880	88.5 %	88.5 %	53.11
Lindblade Media Center	West Los Angeles	32,428	100.0 %	100.0 %	57.67
Austin, TX
3601 S Congress Avenue	South	228,056	78.5 %	85.7 %	42.92
1021 E 7th Street	East	11,180	100.0 %	100.0 %	49.37
TOTAL		1,321,145	79.3 %	80.5 %	50.94
Hotel:
				Revenue Per

Number Available Room % Occupied 2 Location Sub-Market of Rooms (RevPAR) Sacramento, CA Sheraton Grand Hotel Downtown/Midtown 503 32.3 % \$ 46.60 Ancilliary: Rentable % Annualized Rent Square Feet Occupied (Parking + Retail) Location Sub-Market (Retail) (in thousands) 4 (Retail) Sacramento, CA Sheraton Grand Hotel Downtown/Midtown 9,453 100 % \$ 2,981 Oakland, CA 2 Kaiser Plaza Lake Merritt - %

Geographic Diversification1

Annualized Rent by Location (Excludes Hotel and Ancillary Properties)

Represents gross monthly base rent, as of December 31, 2020, multipled by 12. The anount reflects total cash rent before applicable, annualized ent has been grossed up by adding annualized expense reimbursements to base rent.

Represents trailing twelve-month occupancy as of December 31, 2020, calculated as the number of available rooms. 2.

Represents trailing weller 31, 2020, calculated as noon revene dividel by the number of analble room.
Represents gross northly contractul reses commenced as of December 31,

applicable, annualized rent has been grossed up by adding annualized expense reimbursements to base rent.

Embedded Growth Opportunity: Los Angeles

CMCT

Key Los Angeles Office Themes

1) Tech, media and entertainment demand driving growth
2 Major content creators such as Netflix, Google, Apple, and Amazon Studios lease 3.1+ million SF of office and production space across West Los Angeles and Hollywood1
High barrier-to-entry/supply constrained given regulatory (3) environment
Affluent population base 4

CMCT Los Angeles Office Portfolio

· Beverly Hills (9460 Wilshire Boulevard):
- Severe supply constraints with significant barriers to entry; tenant demand driven by finance and entertainment
- Adjacent to the Four Seasons Beverly Wilshire Hotel and Rodeo Drive
· Culver City (Lindblade Media Center):
- A preferred location for tech, entertainment and media tenants; Santa Monica office demand gravitating southeast
· Park Mile/Hancock Park (4750 Wilshire Boulevard):
- Centrally located; attracting tenants priced out by rent increases in nearby Hollywood
· Brentwood (11600 & 11620 Wilshire Boulevard):
- Strong demand from executives who prefer a shorter commute; cost-effective alternative to Santa Monica
- One block west of I-405 freeway; nearby UCLA Medical Center, St. John's Hospital and Veterans Administration Hospital provide consistent demand for medical office
- Source: Los Angeles County Economic Development Corporation (January 2019). As of September 30, 2020.

CIM Group: 60+ Los Angeles Investments Over 25 Years

CIM Group is headquartered in Los Angeles
· CIM Group's Los Angeles real estate experience:
- 10 million+ SF of project experience across opportunistic, value-add and stabilized strategies
- Currently owns/manages 25 assets valued at \$2.4 billion; including 11 office assets with 2.5 million SF

Embedded Growth Opportunity: Oakland

CMCT

Favorable Office Dynamics

2 Relative Value vs. San Francisco Central Business District ("CBD") (Class A asking rents) :
- · San Francisco \$72.21
- Oakland \$55.57
Office building development has been tempered in the East Bay, with current under construction office space equivalent to 0.2% of the market's total existing inventory'
3 Proposition M: San Francisco office development limited to 875,000 square feet per year
- · Proposition E: Effective October 2020, Prop E further reduces new office development in San Francisco, tying new approvals to the amount of affordable housing built in the city
2 Class A CBD vacancy of 9.3%2

District CIM Investments CMCT Investments @ 400 Pa

								A Vibrant Community
--	--	--	--	--	--	--	--	---------------------	--

Transportation: All six BART lines and every major Bay Area highway run through Oakland

Amenities Base: Oakland has emerged as a "cool" place to live and work

Residential Development:

· ~2,000 new expected units in 2021 (v. ~169,960 existing)
· Residential Monthly Asking Rents
- San Francisco \$2,751 | Downtown Oakland \$2,530

Annualized Rent Per
Rentable SF3 Leased %3 CMCT Assets Asset Type 537,811 8 89.1% \$45.59 1 Kaiser Plaza Office 2 Kaiser Plaza Office Development

Source: CoStar March 2021 Market Report.
Source: CBRE Q4 2020 Marketview Snapshot.
3 As of December 31, 2020.
Repents goss morner our square for une est as of December 31, 222, multiplied by 12. This anon reflects toul cast on the below and clouder on atchbutable or etail 4:

Marina District

Francisco

Central Tower =

Embedded Growth Opportunity: Austin

CMCT

1300 E 58 Barin - 507 Cali
18 - 618 Tillery District at Se МАР КЕУ ● CMCT Asset
● ClM Asset
● ClM Realized

CMCT Asset	Asset Type	Rentable SF-	Leased %-	Annualized Rent Per Occupied SF43
3601 South Congress	Office	228,056	85.7%	\$42.92
1021 E 7th Street	Office	11,180	100.0%	\$49.37
CMCT In-Place Rent2,3 \$43.32			Class A Asking Rents \$47.22

Source: CoStar March 2021 Office Market Report. As of December 31, 2020. 2

Represents gross nonthly base ren per square in the may 2020, multplied by 12. This anount reflects total cash rent before abatements. Where applicable, anualized rent has been gossed up by adding annualized expense rein Annualized rent for certain office propertes includes rent attributable to retall

Completed Development: Austin

Location Sub-Market Rentable SF Product Austin, TX South 44,000 Office Austin, TX TBD Office East

3601 S. Congress Avenue Expansion - Fully Leased in Q4 2020

· Approximately 44,000 SF, two-story creative office building; add-on building to pre-existing 183,885 SF office complex
· Add-on building fully leased to single tenant through 2029
· Development expected to exceed targeted ~8% return on cost upon stabilization

1021 E. 7th Street - Acquired in Q4 2020

· Approximately 11,000 SF office building located in East Austin; 100% leased until 2023
Located on main thoroughfare between CBD and East Austin
Highly desirable location for creative office space; numerous food and dining options within · close proximity
Potential to develop creative office building at expiration of lease term

CMCT

Redevelopment: Los Angeles
----------------------------	--

Location	Sub-Market Rentable SF	Product
Los Angeles, CA	Mid-Wilshire 140.332	Office

4750 Wilshire Boulevard - Repositioning

· Suspended repositioning of building into vibrant, collaborative office space due to COVID-19
~\$14.5 million redevelopment with just \$2.2 million spent as of December 31, 2020 . · Continue to market the building to prospective office tenants while simultaneously
evaluating converting unleased space to multi-family • Centrally located in Park Mile / Hancock Park location with both nearby executive
housing (Hancock Park) and millennial housing and lifestyle amenities (Hollywood and Miracle Mile)
. Short drive time to Hollywood/West Hollywood (10 minutes), Beverly Hills/Culver City/Downtown LA (20 minutes) and Santa Monica (30 minutes)
CIM Group leased ~30,000 square feet in 2Q'19 for an annualized rent of ~\$48' per square foot representing a 73% lease spread from prior lease (4750 Wilshire is adjacent to CIM Group's headquarters)

Represents gross nonthly base rent per square for a not a comments of 2020, multiplied by 12. This anount reflects total cash rent before abstenents. When applicable, 1. annualized rent has been grossed up by adding annualized expense reimbursements to base rent.

CMCT

	4 1	Redevelopment: Sacramento
--	-----	---------------------------

CMCT

Location

Sub-Market Product

Hotel

Sacramento, CA

Downtown/Midtown

Room Renovations

· ~\$26.3 million renovation of existing hotel to drive average daily rate and increase group bookings (\$2.2 million spent as of December 31, 2020)
· Expecting to renegotiate Marriott Hotel Management Agreement; switch to franchise model with separate management
· Complete renovation of all guestrooms; update food & beverage amenities, public areas, meeting rooms and amenities
· Longer term, potential development of a new hotel tower, multifamily or build-to-suit office on top of owned garage and retail
· The vast majority of the redevelopment has been suspended due to COVID-19

Sheraton Grand Renovation Simultaneous With Expansion/Renovation of Adjacent Sacramento Convention Center

· \$340 million renovation/expansion of the Sacramento Convention Center
· Adds new meeting rooms and exhibit halls
· Scheduled to be complete throughout 2021 (opening in phases)
· Part of a larger project (C3) that also renovates adjacent auditorium and theater

mercial.com | @2020 CMCT | CMCT Corporation | Securties distributed by affiliate broker-clealer: CCO Capital, LC, member: FNRA / SPC

Growth Pipeline: Oakland

CMCT

Opportunity to Generate Value Through Co-Investment, Sale or Build-to-Suit

Potential Build-to-Suit

Location	Sub-Market	Potential Rentable SF	Product
Oakland, CA	Lake Merritt	425.000 - 800.000	Office

2 Kaiser Plaza (Beacon Tower)

· Build-to-suit opportunity
· Entitled for 425,000-800,000 SF office
· Currently utilized as surface parking lot

Rendering of Proposed 2 Kaiser Plaza (Beacon Tower),
Oakland, CA

www.cl

Equity-Enhancing, Growth-Oriented Capital Structure CMCT

Preferred Stock Program

Series A and Series D

· Perpetual Preferred Stock (Series A: 5.5% coupon; Series D: 5.65% coupon)
· Continuously offered bi-monthly issuance
· CMCT and investor option to call/redeem five years from issuance (Series A: \$25 per share; Series D: \$24.50 per share), plus accrued and unpaid dividends'
· Redemption payable in cash or CMCT common stock, at election of CMCT'

Series L

· Perpetual Preferred Stock at 5.5% coupon
· CMCT and investor option to call/redeem beginning November 21, 2022 (or earlier in limited circumstances) at \$28.37 per share, plus accrued and unpaid dividends 6
Redemption payable in cash or CMCT common stock, at election of CMCT2

· Target capital structure of 45% common equity, 55% debt and preferred equity - seeks to enhance common equity returns with low relative risk
With respect to the Series D Preferred Stock, shares and be redemed at the option of the first five years following the issuance date, subject to a redempton fee as 1 .. a % distated of . 06 in year snea nd wo, 86 in year hu, and 3% in year he enema market a fear he, here is no redem wirous a fear year he, there is no redempion fee.
Series A
Represents gross prose thrum becember 31, 2020, calculated as the number of shares is, who in respect one, who respect on the senes process (sock (netic 3. Group in lieu of cash payment of the asset management fee

Common equity based on far value (see page 31 for the aptal structure as of December 31, 2020). Debt and preferred equity based on their respective stated value 4.

S Equity-Enhancing, Growth-Oriented Capital Structure CMCT

Debt & Preferred Summary (December 31, 2020)

Mortgage Payable	Interest structure (fixed/variable etc.)	Interest Rate	Maturity/ Expiration Date	Loan balance (in millions)
1 Kaiser Plaza	Fixed	4.14%	7/1/2026	44	97.1
Total Mortgage Payable Other Debt		4.14%		\$	97.1
SBA 7(a) Loan-Backed Notes 2	Variable	LIBOR + 1.40%	3/20/2043	A	14.2
Borrowed Funds from the Federal Reserve through the PPPIF3	Fixed	0.35%	Various		145
Total Other Debt				S	28.7
Corporate Debt
2018 Revolving Credit Facility 4	Variable	LIBOR + 2.05%	10/31/2022	A	166.5
2020 Unsecured Revolving Credit Facility 3	Fixed	1.00%	5/1/2022
Junior Subordinated Notes	Variable	LIBOR + 3.25%	3/30/2035	44	27.1
Total Corporate Debt				49	193.6
Total Debt				\$	319.4

Fixed Debt vs. Floating Debt (December 31, 2020)'

See debt and preferred stock footnotes under Important Information on slide 32.

CIM Commercial Trust - Key Investment Highlights

CMCT

Estimated Net Asset Value

(As of December 31, 2020)

(\$ in millions, except for shares and per share amounts) (Unaudited)

			Estimated NAV per share of common
Estimated NAV			stock outstanding
Investments in real estate - at fair value	ಕ್ಕೆ	866.7
Loans receivable - at fair value		85.2
Debt		(319.4)
Cash and other assets, net of other liabilities		11.3
Noncontrolling interests		(0.7)
Redeemable Series A Preferred Stock 4		(159.6)
Redeemable Series D Preferred Stock 3		(0.5)
Redeemable Series L Preferred Stock 4		(152.8)
Estimated NAV attributable to common stockholders	ટે	330.2 \$	22.27

Shares of Common Stock outstanding

14,827,410

Please note, the changes in gloal, national, regional or capital market conditions (including as a result of the outbreak of COVID-19) can have a significant
negative impac

Represents outsanding norgage deb, junior suborinated notes, and borrovings on our revoling credit facilly, at face value. Excludes secured browings on
government gura
Outstanding Series A Pelerred Stock represents total in a of December 31, 2020 of 6,492,632, less redempions of 17,0 14 shares, multiplied by the stated value of \$25.0 share. Gross proceeds are not net of commissions, fees, allocated costs or discount as applicable.
Qutstanding Series D Prefered Stock represents total shares of December 31, 2020 of 19,145 multipled by the stated value of \$25.00 per share. Gross proceeds are not net
Oustanding Series L Preferred Stock represents total in as of December 31, 2020 of 5,387,160 multiplied by the stated value of \$28.37 per share. Gross proceeds are not commissions, fees, allocated costs or discount as applicable.

Key Metrics

CMCT

Top Five Tenants (December 31, 2020)

Tenant	Property	Lease Expiration	Annualized Rent (in thousands)	% of Annualized Rent	Rentable Square Feet	% of Rentable Square Feet
Kaiser Foundation Health Plan, Inc.	Kaiser Plaza	2025-2027 4	16,004	30.0 %	366,777	27.8 %
MUFG Union Bank, N.A.	9460 Wilshire Boulevard	2029	3,617	6.8 %	27,569	2.1 %
F45 Training Holdings, Inc.	3601 S Congres Avenue	2029	2,279	4.3 %	44,171	3.3 %
3 Arts Entertainment, Inc.	9460 Wilshire Boulevard	2026	2,183	4.1 %	27,112	2.1 %
Westwood One, Inc.	Lindblade Media Center	2025	1,870	3.5 %	32,428	2.5 %
Total for Top Five Tenants			25,953	48.7 %	498,057	37.8 %
All Other Tenants			27,383	51.3 %	548,912	41.5 %
Vacant				96 -	274,176	20.7 %
Total Office			53,336	100.0 %	1,321,145	100.0 %

Lease Expirations as a % of Annualized Office Rent (December 31, 2020)

Represents gross monthly base ent, as of December 31, This amount reflect total cash rent before abatements. Where applicable, annualized rent has been grossed up

CMCT

ា ប្រ

Important Information

Assets Owned and Operated (AOO) represents the aggregate assets owned and operated by CM on behalf of partners (including where CIM contributes alongside for its own account) and co-investors, whether or not CIM has discretion, in each case without duplication.

Report Date is defined to mean as of September 30, 2020.

Book Value for each investment generally represents the investment's book value as reflected in the applicable financial statements as of the Report Date prepared in accordance with U.S. generally accepted accounting principles on a fair value basis. These book values generally represent the assets third-party appraised value as of CM's Cole Net-Lease Asset strategy, book values generally represent undepreciated cost (as reflected in SEC-filed financial statements).

Investment-Level Returns represent the performance of an investment in a fund based on the equity contributed to the investment by the fund and distributed to the fund from the investment, provided that generally, (a) distributions resulting from debt proceeds or third party capital used to replace equity contributions are applied as a reduction in contributions and, accordingly, are not treated as distributions; (b) any fund-level debt is allocated to the investment-level debt, the significant effects of which are as follows: (i) equity contributed is reduced by the amount of assumed debt and (ii) equity distributed is reduced by the amount of repayments on such debt; (c) temporary (working capital) contribution of total contributions in the period the capital is returned to the fund and (d) certain amounts re-contributed from the feemed to be reductions in prior distributions rather than additional contributions; the effects of (a) =(d) are to reduce the amount of distributions. Deposits and other preclosing cash outflows are generally assumed to the investment at closing. Returns are calculated after taking into account investment-level costs, but before taking into account fund-level costs and expenses, management fees, carried interest distributions payable to CIM or taxes, the effect of which is expected to be material.

Net Asset Value (NAV) represents the distributable amount based on a "hypothetical liquidation" assuming that on the date of determination that: (i) investments are sold at their Book Values; (i) debts are paid and other assets are collected; and (ii) appropriate adjustments and/or allocations between equity partners are made in accordance with applicable documents, as deternined in accordance with applicable accounting guidance.

Important Information - Debt and Preferred Summary CMCT

Excludes: (a) \$8.5 million of secured borrowings government guaranteed loans that are treated as secured borrowing because the loan sales did not meet the derecognition criteria proving and Collateral, and (b) premiums, discounts and debt issuance costs.
1. In May 2018, we completed a securitization of the unguaranteed portion of certain of our SBA 7(a) bans receivable with the issuance of \$38.2 million of unguaranteed SBA 7(a) loan-backed notes are collateralized by the right to receive payments and other recoveries attributable to the unguaranteed portions of certain of our SBA 7(a) loans receivable. The notes mature on March 20, 2043, with monthly payments on the collateralized loans are received. Based on the anticipated SBA 7(a) loans, at issuance, we estimated the weighted average life of the notes to be approximately two years.
1. In June 2020, CMCT borrowed funds from the Paycheck Protection Program Liquidity Facility (the "PPLF"). Advances under the PPLF carry an interest rate of 0.35%, are made on a dollar-for-dollar basis based on the amount of bans originated under the Paychecking Program and are secured by loans made by CMCT under the Paychen Program. The maturity date of PPLF borrowings is the same as the maturity date of the loans pledged to secure the extension of credit, generally two or five years. At maturity, both principal and accrued interest are due.
In October 2018, CMCT entered into a secured revilt facility with a bank syndicate that; as amended, allows CMCT to borrow up to \$209.5 million, subject to a borrowing base calculation (the "2018 revolving credit facility"), in September 2020, the 2018 Credit Facility Modification") to remedy the effect that CDVD-19 had on CMCT's ability to borrow under the 2019 revolving the period from September 2, 2020 through June 30, 2021 (the "Deferal Period"). The 2018 revolving credit facility bears interest (i) during the Deferral Period at (A) the base rate plus 1.05% or (B) LIBOR plus 2.05% and (i) after the Deferral Period, at (A) the base rate plus 0.55%. The 2018 revolving credit facility is also subject to an unused commitment fee of 0.15% depending on the amount of aggregate unused commitments. The 2018 revolving redit facility is secured by deeds of tust on certain of our properties. During the Deferral Period, CMCT's subject to a \$15.0 million reserve, which may be reduced by certain capital expendtures made in respect of the 2018 revolving credit facility, and the requirement that we maintain a minimum balance of 'liquid assets' of \$15.0 million, which are defined as 11 unencumbered cash and (2) up to \$5.0 million unfunded availability under the 2018 revolving credit facility, The 2018 revolving credit facility matures in one one-year extension option under certain conditions. As of March 11, 2021, \$24.0 million was available for future borrowings.
1. In May 2020, to further enhance its liquidity position and maintain financial flexibility, CMCT entered into an unsecured revolving credit facility with a bank (the "2020 unsecured revolving credit facility") pursuant to which con borrow up to a maximum of \$10,000,000. Outstanding advances under the 2020 unsecured revolving credit facilly bear interest at the rate of 1.12% with each advance under the 2020 unsecured revolving credit facility, which fee is subject to a cap of \$112,000 in the aggregate. The 2020 contains certain customary covenants including a maximum fixed charge coverage ratio, as well as certain other conditions. The 2020 unsecured revolving credit facility matures in May 2022,
6 Outstanding Series A Preferred Stock represents total shares issued as of December 31, 2020 of 6,492,632, less redemptions of 107,014 shares, multiplied by the stated value of \$25.00 per share. Includes shares in lieu of cash payment of the asset management fee. Gross proceeds are not net of commissions, fees, allocated costs or discount.
1. Outstanding Series D Preferred Stock represents total shares issued as of December 31, 2020 of 19,145 multiplied by the stated value of \$25.00 per share. Gross proceeds are not net of commissions, fees, allocated costs or discount.
1. Outstanding Series L Preferred Stock represents total shares outstanding as of December 31, 2020 of 5,387,160, multiplied by the stated value of \$28.37 per share. Gross proceeds are not net of commissions, fees, allocated costs or discount.

AI assistant

Creative Media & Community Trust Corporation — Regulatory Filings 2021

6737_rns_2021-03-17_abbdd2c3-6b05-4a81-9e90-7970eabff2ae.pdf

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

FORM 8-K

CURRENT REPORT

CIM COMMERCIAL TRUST CORPORATION

Item 2.02 Results of Operations and Financial Condition

Item 7.01 Regulation FD Disclosure

Item 9.01 Financial Statements and Exhibits

SIGNATURE

CIM COMMERCIAL TRUST CORPORATION

CIM Commercial Trust Corporation Reports 2020 Fourth Quarter Results

Fourth Quarter 2020 Highlights

Management Commentary

Financial Highlights

Fourth Quarter 2020

Year Ended 2020

Segment Information

Office

Same-Store

Total

Hotel

Lending

Debt and Equity

Dividends

About CIM Commercial

Definitions

FORWARD-LOOKING STATEMENTS

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited and in thousands, except share and per share amounts)

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Consolidated Statements of Operations (Unaudited and in thousands, except per share amounts)

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Earnings Per Share (Unaudited and in thousands, except per share amounts)

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Funds from Operations (Unaudited and in thousands, except per share amounts)

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Core Funds from Operations (Unaudited and in thousands, except per share amounts)

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Reconciliation of Net Operating Income (Unaudited and in thousands)

CIM COMMERCIAL TRUST CORPORATION AND SUBSIDIARIES Reconciliation of Net Operating Income (Continued) (Unaudited and in thousands)

Important Disclosures

Reverse Stock Split

Important Disclosures

Forward-looking Statements

CIM Commercial Trust

CMCT

NASDAQ: CMCT | TASE: CMCT-L

COVID-19 Update - Taking Proactive Steps

CIM Commercial Trust - Key Investment Highlights

Creating Value. Enhancing Communities.

Community Based Investment Approach

CMCT

Sustainable & Environmental Initiatives

ESG Committee

CIMpact

Diversity & Inclusion Council

Resources & Expertise of Institutional Owner Operator CCMCT

1 Alignment of Interests

CMCT

2 High Quality Class A & Creative Office Portfolio

Growth-Focused Portfolio (As of December 31, 2020)

Geographic Diversification1

Embedded Growth Opportunity: Los Angeles

CMCT

Key Los Angeles Office Themes

CMCT Los Angeles Office Portfolio

CIM Group: 60+ Los Angeles Investments Over 25 Years

Embedded Growth Opportunity: Oakland

CMCT

Favorable Office Dynamics

District CIM Investments CMCT Investments @ 400 Pa

Embedded Growth Opportunity: Austin

CMCT

Completed Development: Austin

Location Sub-Market Rentable SF Product Austin, TX South 44,000 Office Austin, TX TBD Office East

3601 S. Congress Avenue Expansion - Fully Leased in Q4 2020

1021 E. 7th Street - Acquired in Q4 2020

CMCT

4750 Wilshire Boulevard - Repositioning

CMCT

CMCT

Downtown/Midtown

Room Renovations

Sheraton Grand Renovation Simultaneous With Expansion/Renovation of Adjacent Sacramento Convention Center

Creative Media & Community Trust Corporation Regulatory Filings 2021