Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Subordinate Voting Shares^F1,F2	Jul 7, 2016	P	20,000	$34.24	A	3,886,063	D
Subordinate Voting Shares^F3,F2	Jul 7, 2016	P	14,388	$34.17	A	3,900,451	D
Subordinate Voting Shares^F2	Jul 8, 2016	P	231,900	$34.66	A	4,132,351	D
Subordinate Voting Shares^F4	holding	—	—		—	5,129	I	See Footnote

Table II — derivative securities

No Table II lines on this filing.

Explanation of responses

F1The price reported in Column 4 is a weighted average price. The reported shares were purchased in Canadian dollars in multiple transactions at prices ranging from CAD$44.39 to CAD $44.54, inclusive. For reporting purposes, the weighted average price has been converted to U.S. dollars at the rate of approximately US$1.00 = CAD$1.2990 per the exchange rate on July 7, 2016. The reporting person undertakes to provide to Colliers International Group Inc., any security holder of Colliers International Group Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F2The reported securities are held in the account of The Spruce House Partnership LP (the "Fund"), a private investment fund managed by Spruce House Investment Management LLC (the "Investment Manager"), and may be deemed to be beneficially owned by the Investment Manager, the general partner of the Fund, Spruce House Capital LLC (the "General Partner"), and by Zachary Sternberg and Benjamin Stein, managing members of the Investment Manager and the General Partner (the "Managing Members"). Each of the Fund, the Investment Manager, the General Partner and the Managing Members (collectively, the "Reporting Persons") disclaim beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and affirmatively disclaim being a "group" for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.
F3The price reported in Column 4 is a weighted average price. The reported shares were purchased in multiple transactions at prices ranging from $34.11 to $34.25, inclusive. The reporting person undertakes to provide to Colliers International Group Inc., any security holder of Colliers International Group Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4The reported securities are directly owned by Benjamin Stein.