Mr. Jack Curtin reports

COLLIERS EXTENDS CONTRACT WITH GLOBAL CHAIRMAN & CEO

Colliers International Group Inc. has extended the term of the existing management services agreement with its global chairman, chief executive officer and largest shareholder, Jay S. Hennick, to Jan. 1, 2029. The agreement was due to expire in April, 2026.

Mr. Hennick has been instrumental in shaping Colliers since its initial acquisition in 2004. Under his leadership, the company has expanded operations globally, diversified its business adding new growth engines while increasing recurring earnings to 70 per cent. Since Colliers became a stand-alone public company in 2015, its market capitalization has grown from approximately $1.5-billion (U.S.) to $6.1-billion (U.S.) as of Dec. 31, 2023.

In connection with this extension, Colliers has created a new performance-based long-term incentive plan that ties a significant proportion of Mr. Hennick's total compensation to the achievement of certain market-capitalization-based growth targets. Under this arrangement, Mr. Hennick has been granted a total of 428,174 cash-settled performance units that are subject to the satisfaction of certain performance-based vesting conditions during the period ending Jan. 1, 2029. To the extent incentives are earned, Colliers will be obligated to make a one-time cash payment equal to the number of vested units multiplied by the 20-day volume-weighted average trading price of the Colliers subordinate voting shares at such time. For the full amount of the units to vest, Colliers's market capitalization would have to increase to approximately $12.3-billion (U.S.), an amount that is double Colliers's market capitalization as at Dec. 31, 2023. A smaller portion of the performance units may vest and be paid if certain lower market capitalization hurdles are satisfied during the term. The performance units cannot be share settled and do not give Mr. Hennick any rights as a shareholder of Colliers.

"On behalf of the board, we are excited about securing Jay's continued leadership, vision and tireless devotion to Colliers's growth and value creation over the next five years," said Jack Curtin, Colliers's lead director. "With the implementation of this new long-term performance-based compensation plan, we believe that Colliers will be best positioned to continue delivering exceptional shareholder returns for many years to come."

Further details regarding this performance-based long-term incentive plan will be provided in the management information circular for the next annual meeting of shareholders in early 2025.

About Colliers International Group Inc.

Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, the company's 22,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, Colliers's experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20 per cent for shareholders. With annual revenues of more than $4.4-billion and $96-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.

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