Mr. Christian Mayer reports

COLLIERS ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted a notice filed by Colliers International Group Inc. of its intention to make a normal course issuer bid (the NCIB) with respect to its outstanding subordinate voting shares.

The notice provides that Colliers may, during the 12-month period commencing July 20, 2023, and ending no later than July 19, 2024, purchase through the facilities of the TSX, alternative Canadian trading systems or the Nasdaq Stock Market up to four million subordinate voting shares in total, being approximately 10 per cent of the 40,066,978 shares comprising the public float as of July 17, 2023, of such class of shares. Purchases of subordinate voting shares through Nasdaq will be made in the normal course and will not, during the 12-month period ending July 19, 2024, exceed, in the aggregate, 5 per cent of the outstanding subordinate voting shares as at the commencement of the NCIB. The price which Colliers will pay for any such shares will be the market price at the time of acquisition. During the period of this NCIB, Colliers may make purchases under the NCIB by means of open market transactions or otherwise as permitted by the Ontario Securities Commission, Canadian Securities Administrators and/or Nasdaq. The actual number of subordinate voting shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by senior management of Colliers. The average daily trading volume on the TSX from Jan. 1, 2023, to June 30, 2023, was 66,248 subordinate voting shares. Daily purchases under the NCIB will be limited to 16,562 subordinate voting shares, other than block purchases. All shares purchased by Colliers under the NCIB will be cancelled.

As of July 17, 2023, there were 45,853,682 subordinate voting shares and 1,325,694 multiple voting shares of Colliers outstanding.

Colliers may purchase its subordinate voting shares, from time to time, if it believes that the market price of its subordinate voting shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of Colliers.

The company's previous NCIB authorized the purchase of up to 3.5 million subordinate voting shares and expires on July 19, 2023. As of the date hereof, Colliers has purchased 427,274 of its subordinate voting shares under this NCIB (including subordinate voting shares purchased through Nasdaq during the period of this NCIB).

About Colliers International Group Inc.

Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, its 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, the company's experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20 per cent for shareholders. With annual revenues of $4.5-billion and $98-billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of its clients, its investors and its people.

We seek Safe Harbor.