Colliers International Investor Presentation

April 2015

Forward Looking Statements

Certain statements included herein constitute “forward‐looking statements” within the meaning of the

U.S. Private Securities Litigation Reform Act of 1995. Such forward‐looking statements involve known

and unknown risks, uncertainties and other factors which may cause the actual results, performance

or achievements of the Company, or industry results, to be materially different from any future results,

performance or achievements expressed or implied by such forward‐looking statements. Such factors

include, among others, the following: general economic and business conditions, which will, among

other things, impact demand for the Company’s services, service industry conditions and capacity; the

ability of the Company to implement its business strategy, including the Company’s ability to acquire

suitable acquisition candidates on acceptable terms and successfully integrate newly acquired

businesses with its existing businesses; changes in or the failure to comply with government

regulations (especially safety and environmental laws and regulations); and other factors which are

described in the Company’s filings with the Canadian securities regulators and the U.S. Securities and

Exchange Commission.

Summary of Proposed Transaction

Element Description

Transaction Overview

FirstService to separate into two independent public companies through a tax free spin-out Colliers International: Global leader in commercial real estate services

FirstService (new): Combination of FirstService Residential and FirstService Brands

Shareholders to receive one new share of FirstService for each share held. Former shares of FirstService to be re-issued as Colliers

FirstService to be renamed “Colliers International Group Inc.”

Founder to retain control, oversight and stewardship

Rationale Reflects continued focus on creating long-term shareholder value

Creates two strong independent public companies with compelling investment opportunities and maximum flexibility

Maintains two distinct, highly regarded brands and key competitive advantages in their respective markets

Market Adoption

Continue dual listing on TSX and NASDAQ

New tickers - TSX: CIG, NASDAQ: CIGI

Expected dividend US$0.08 per share per annum

Timing Completion targeted for Q2 2015

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Colliers InternationalGlobal leader in commercial real estate services

(1) Pro forma for 2014 acquisitions.

Highly regarded international brand, global capabilities and broad array of services

10,000 plus employees, 219 offices, 41countries

500 offices in 67 countries with affiliates

$78.9 billion in transaction value

1.3 billion square feet managed

Significant growth opportunities and industry consolidation on a global scale

Strong cash flows, modest CapEx, variable costs

Strong and conservative balance sheet

Experienced management team

2014 Revenue by Service(1)

2014 Revenue by Geography(1)

50%

26%

24%

Americas EMEA Asia Pacific

Summary Overview

38%

31%

31%

Outsourcing & Advisory Services Investment Sales Leasing

2

The Colliers International TeamExecutive team combines extensive experience and long tenure at

Colliers

Peter Cohen

Michael Harris

Jack Curtin

Doug FryeCEO

Jay HennickExecutive Chairman

John FriedrichsenCFO

Management Team Board of Directors

Dylan TaylorCOO

David BeattyJay HennickExecutive Chairman

Fred Sutherland

Kathy Lee(1)

(1) To be added.

Strong shareholder alignment through greater than 20% insider ownership

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History of Colliers InternationalOver a century of international experience in commercial real estate

Pre-2000 2000s 2010s

1990: Colliers expands into emerging markets including Central Europe and Latin America

1976: Colliers International Property Consultants incorporated in Australia

1985: Colliers launches global expansion into Canada as Colliers Macaulay Nicolls and in the USA

1986: Colliers establishes operations in 20 markets in AsiaPac with merger of Australian and Asian operations

2002: Doug Frye becomes CEO and moves head office to Seattle

2010: Global Re-brand as "Colliers International“

Establishes "Project Fusion" to increase operational effectiveness

2014: Voted to top five in Global Outsourcing 100

Acquires operations in France, Belgium, Morocco and re-brands them as Colliers

On track to achieve margin goal of 10% by 2016

1898: Macaulay Nicolls founded in Vancouver, Canada

2012: Acquires operations in the United Kingdom, Ireland and Spain and integrates into global platform

2013: Acquires Colliers German operations and integrates them into global platform

2009: Dylan Taylor joins as CEO of Colliers USA

2006: Global platform grows by acquiring 29 additional Colliers branded operations in 15 countries

2004: FirstService assumes control of Colliers Macaulay Nicolls and begins consolidation

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Investment Highlights

Top-Tier Global Brand and Reputation

Global Full Service Platform with

Market Leading Scale

Proprietary Tools, Training, Technology

and Marketing

Experienced and Tenured Management

Team

Impressive Financial Results and Growth

Prospects

Unique “Enterprising” Culture

and Core Values

Scale and brand yield competitive advantage and position to capitalize on key trends in commercial real estate services industry

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Leading Global Platform

40%

29%

31%

50%

26%

24%

2014 Revenue by Geography(1)

2014 EBITDA by Geography(1)

Global Footprint

Americas Asia Pacific EMEA

Global market leader with one of the most recognizable brands

Over 10,000 employees and 219 offices in 41countries

Coverage of all major markets

Global coverage; 500 offices in 67 countries with affiliates

(1) Pro forma for 2014 acquisitions.

Americas Asia Pacific EMEA

Americas Asia Pacific EMEA

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Sales and Lease Brokerage Division Sales, leasing, and mortgage services across a diverse client base

Key Services Description

Landlord Representation

Work on behalf of property owners to search and sign tenants and other occupiers

Property positioning and marketplace management

Support landlords’ ownership goals

Tenant Representation

Assist occupiers to locate and secure locations

Support occupiers with strategic negotiations and advise on terms

Capital Markets & Investment Services

Deep expertise across all asset classes and subspecialties

Maximize real estate investment returns for clients

Provide debt and financing strategy advice and placement support

62% of revenue in 2014 (down from 85% in 2004)

Services for sales, leases and mortgages

5,700+ commercial real estate professionals

Diversified client base across geographies, industry segments, public and private institution and individuals

Sale and lease transactions with total transaction value of $78.9 billion in 2014

47%

22%

11%

20%

Office Industrial

Retail and Multi-family Other

2014 Revenue by Asset Classes

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Outsourcing and Advisory Services Division Outsourcing and advisory services for large corporate clients

Valuation & Advisory, Property

Marketing and Research39%

Property & Asset Mgmt30%

Project Mgmt & Workplace Solutions

31%

38% of revenue in 2014 (up from 15% in 2004)

Manage real estate portfolios and real estate transactions for clients

1.3 billion square feet under management

Leverage global network of 7,000+ advisors

Second best real estate outsourcing platform in the world

Focus on the same client segments as the Sales and Lease Brokerage Division

Key Outsourcing and Advisory Services

Corporate Solutions Services for large,

geographically-diverse portfolios

Valuation & Advisory Services

Wide range of valuation, realty tax and other advisory services

Property and Asset Management Services

Property oversight and facility management

Project Management Project management

services for a wide range of projects

Workplace Solutions Full suite of consulting

services for occupiers

Property Marketing Turnkey property marketing

solutions

Research Services Insights on real estate

trends

2014 Revenue Segments(1)

(1) Corporate Solutions is embedded in each revenue segment shown above. Revenues are pro forma for 2014 acquisitions.

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People - Our Strength

Unique Culture and Values Core Competencies

Colliers University

The industry’s leading corporate University

The Colliers Way

Proprietary and best in class method of servicing client requirements on a consistent basis globally

Colliers 360Industry leading client performance software

Net Promoter Score

Global deployment of NPS for service excellence and employee engagement

Acquisition Integration

Proven record of onboarding and integrating acquisitions with over 40 successful acquisitions completed to date

ServiceCreate a positive memorable experience by exceeding client expectations every time

ExpertiseBuild industry leading expertise to better service clients’ unique industry specific needs

CommunityDeep commitment and leadership to the communities where we operate

Fun

Create an optimistic, energetic and dynamic work environment that attracts and retains the industry’s leading talent

Colliers has created an enterprising culture focused on accelerating our clients’ success

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Highly Attractive Market Opportunity

Firm (Top 5) 2014 Revenue

Colliers International $2.3B(1)

CBRE $9.0B

JLL $5.4B

DTZ $2.9B

C&W $2.8B

Firm (Top 5) 2014 Revenue

Deloitte & Touche $34.2B

PwC $34.0B

E&Y $27.4B

KPMG $24.8B

BDO $7.0B

Source: International Accounting BulletinSource: Commercial Property Executive

(1) Revenue includes affiliates.

Market Share Top 5 = 15% Market Share Top 5 = 71%

$148 billion global market for Commercial Real Estate (CRE) Services

Continued outsourcing trends will drive market growth

Massive opportunity for market and service line expansion (e.g., facility management)

Highly fragmented and consolidating industry

Total Global Real Estate: $148 Billion Total Global Accounting: $180 Billion

As a top tier player, Colliers is uniquely positioned to realize on the growth opportunity of a large, consolidating and increasingly global industry

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Compelling Growth Prospects

Leverage “Colliers

International” Brand to

Expand Market Share

Increase Market Share in Major Sender Markets

Leverage Industry Recognized Culture to Attract, Develop and Retain

Top Talent

Execute on Robust Pipeline of Actionable Add-On Acquisitions to Increase Market Share and Extend

Service Lines

Organic Growth Acquisitions

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Strong Historical PerformanceAttractive financial profile with impressive historical growth

Revenue

Adjusted EBITDA (1),(2)

($ in millions)

Revenue CAGR of 18.2% from 2010-Pro Forma 2014

Established track record of expanding internally and through acquisition

One of the fastest growing commercial real estate services providers

Adjusted EBITDA CAGR of 55.3% from 2010-Pro Forma 2014

Continue margin expansion, 600bps+ improvement since 2010

Consistent execution of plan has driven outstanding long-term performance

2010 2011 2012 2013 2014 Pro forma 2014

$851 $984$1,159

$1,307$1,582 $1,664

2010 2011 2012 2013 2014 Pro forma 2014

$27$43

$71

$104

$145$157

3.2% 4.3%6.1%

7.9%9.1% 9.4%

(1) Adjusted EBITDA as presented above is a non-GAAP measure. Investors should consider non-GAAP measures in addition to, not as a substitute for, the comparable GAAP measures.

(2) Colliers International results are inclusive of incremental corporate costs.(3) Pro forma revenue and adjusted EBITDA for 2014 reflects annualized contribution from completed acquisitions .

2010-2014 CAGR: 18.2%

2010-2014 CAGR: 55.3%

($ in millions)

(3)

(3)

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2015 Full-Year Expectations

MetricColliers International Post-Transaction 2015 Full-Year Expectations

Revenue growth High single-digit percentage increase

Adjusted EBITDA margin High single-digit percentage

Effective tax rate High 20’s percentage

Financial leverage 1.0x-1.5x Net Debt to Adjusted EBITDA

Capital Expenditures Approximately 2-3% of Revenues

Working Capital Minimal

Dividend Policy$0.08 per share per annum(paid semi-annually) ($3MM total per annum)

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Pro Forma Capital Structure & Leverage

Capital Structure Policy Summary Leverage Metrics (As of 12/31/14)

Capital structure reflects Colliers business model

Long-term target of 1.0-1.5x financial leverage(1)

Operating free cash flow to be used:

Fund internal growth and acquisitions

Pay dividends

Pay down debt

$500M, 5 year revolving credit facility put in place with existing syndicate

Significant capacity for continued acquisitions

Consistent covenant package, including maximum 3.5x financial leverage(1)

(1) Expressed as net debt / adjusted EBITDA including annualized contribution from acquisitions.

($ in millions)

Cash 90$

Revolving Credit Facility 250

Total Debt 250

Net Debt 160

2014 Adjusted EBITDA 145

2014 Pro Forma Adjusted EBITDA(1) 157

Net Debt / Pro Forma Adjusted EBITDA(1) 1.0x

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