UNITED STATES SECURITIES AND EXCHANGE COMMISSION

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) January 10, 2024

Citigroup Inc.

(Exact name of registrant as specified in its charter)

Delaware 1-9924 52-1568099

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

388 Greenwich Street, New York,

(Address of principal executive offices)

10013

(Zip Code)

(212) 559-1000

(Registrant’s telephone number,

including area code)

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 Securities Exchange Act of 1934 formatted in Inline XBRL: See Exhibit 99.3

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. ☐

CITIGROUP INC.

Current Report on Form 8-K

Item 2.02 Results of Operations and Financial Condition.

The fourth quarter of 2023 pretax results for Citigroup Inc. (Citi) were impacted by the following new discrete item:

● Citi recorded a $1.3 billion reserve build in the quarter related to increases in transfer risk associated with exposures outside the U.S., driven by

safety and soundness considerations under U.S. banking law; more specifically, cross-border and cross-currency exposures in Argentina ($720

million), based on prevailing economic trends, currency devaluation and geopolitical risk that may impact Argentina’s ability to sustain external

debt service, and in Russia ($580 million) for the prolonged political and economic instability. For additional information on transfer and other

country risks, see “Country Risk–Argentina,” “Country Risk– Russia” and “Forward-Looking Statements” in Citi’s Quarterly Report on Form 10-Q

for the quarterly period ended September 30, 2023 (3Q23 Form 10-Q) and “Risk Factors—Other Risks” in Citi’s 2022 Annual Report on Form 10-K

(2022 Form 10-K).

In addition, Citi’s fourth quarter of 2023 pretax results were impacted by the following items previously discussed by Citi, but which have now been

finalized, and are being disclosed for transparency purposes:

● Citi recorded an approximate $1.7 billion charge to operating expenses in the quarter (previously estimated to be up to $1.5 billion in Citi’s 3Q23

Form 10-Q, and subsequently estimated to be approximately $1.65 billion during a recent Citi investor presentation) related to the Federal Deposit

Insurance Corporation special assessment. For additional information, see page 6 of Citi’s 3Q23 Form 10-Q.

● Citi recorded an approximate $880 million translation loss in revenues in Argentina in the quarter, as a result of the recent devaluation of the

Argentine peso. This decrease in revenues impacted Services, Markets and Banking (see discussion of these new operating segments in Item 7.01

below). Citi also generated net interest income of approximately $250 million on its net investments in Argentina in the fourth quarter of 2023,

which is not included above. For additional information on Argentine-related devaluation risk, see “Country Risk–Argentina, and “Forward-

Looking Statements” in Citi’s 3Q23 Form 10-Q and “Risk Factors—Other Risks” in Citi’s 2022 Form 10-K.

● Citi recorded approximately $780 million in restructuring charges in the quarter, largely driven by severance, non-cash asset impairments and other

related charges, as part of Citi’s implementation of its organizational and management simplification initiatives as of year-end 2023. For additional

information, see pages 3 and 5 of Citi’s 3Q23 Form 10-Q.

These items will be reflected in Citi’s fourth quarter and full-year 2023 earnings materials to be released on January 12, 2024.

Item 7.01 Regulation FD Disclosure.

As previously disclosed in Citi’s 3Q23 Form 10-Q, Citi indicated it would be making changes to its operating model to simplify the company and further

align its organizational structure with its business strategy. As of the fourth quarter of 2023, Citi completed these changes to its operating model, which, among

other things, included eliminating the Institutional Clients Group and Personal Banking and Wealth Management operating segments and establishing a new

financial reporting structure consisting of five reportable operating segments—Services, Markets, Banking, U.S. Personal Banking and Wealth. Activities not

assigned to the reportable operating segments are included in a new All Other category, which consists of Legacy Franchises and Corporate/Other. For additional

information on these changes, see page 3 of Citi’s 3Q23 Form 10-Q.

Citi is furnishing, as Exhibit 99.1, the attached Summary Historical Financial Information for the quarterly periods ended March 31, 2021 through

September 30, 2023 and the annual periods ended December 31, 2021 and 2022, reflecting the fourth quarter 2023 revision to its financial reporting structure.

This Summary Historical Financial Information is being provided to assist with comparability of information to be presented in Citi’s fourth quarter and full-year

of 2023 earnings materials.

Citi will also reflect its new financial reporting structure in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

Items 2.02 and 7.01 of this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed to be “filed” for purposes of Section 18 of the Securities

Exchange Act of 1934 or otherwise subject to the liabilities of that section or incorporated by reference into any filings under the Securities Act of 1933.

As previously announced, Citi’s Chief Executive Officer and Chief Financial Officer will discuss Citi’s fourth quarter earnings, including forward

looking outlook and future trajectory, during its January 12, 2024 Earnings Call (call details will be provided in Citi’s January 12, 2024 Earnings Release, as well

as on Citi’s website at: https://www.citigroup.com/global/investors).

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number

99.1 Citigroup Inc. Summary Historical Financial Information for the quarterly periods ended March 31, 2021 through September 30, 2023 and

annual periods ended December 31, 2021 and 2022.

99.2 Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date.

104.1 See the cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

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 hereunto duly authorized.

CITIGROUP INC.

Dated: January 10, 2024

By:

/s/ Johnbull E. Okpara

Johnbull E. Okpara

Controller and Chief Accounting Officer

(Principal Accounting Officer)

Exhibit 99.1

Historical

CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT 1Q21 - 3Q23

Page

Citigroup

Financial Summary 1

Consolidated Statement of Income 2

Consolidated Balance Sheet 3

Operating Segment, Reporting Unit, and Component—Net Revenues and Income 4

Services 5

Markets 6

Banking 7

U.S. Personal Banking (USPB) 8

Metrics 9

Wealth 10

All Other 11

Legacy Franchises 12

Corporate/Other 13

Reconciling Items—Divestiture-related impacts 14

Citigroup Supplemental Detail

Average Balances and Interest Rates 15

Loans 16

Deposits 17

Allowance for Credit Losses (ACL) Rollforward 18

Allowance for Credit Losses on Loans (ACLL) and Unfunded Lending Commitments (ACLUC) 19 - 20

Non-Accrual Assets 21

CET1 Capital and Supplementary Leverage Ratios, Tangible Common Equity, Book Value Per Share and Tangible Book Value Per Share 22

As previously disclosed in the Citigroup Inc. (Citi) Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 (3Q23 Form 10-Q), Citi indicated

it would be making changes to its operating model to simplify the company and further align its organizational structure with its business strategy. As of the fourth

quarter of 2023, Citi completed these changes to its operating model, which among other things included eliminating the Institutional Clients Group, Personal Banking

and Wealth Management, and Legacy Franchises operating segments and establishing a new financial reporting structure consisting of five reportable operating

segments—Services, Markets, Banking, U.S. Personal Banking, and Wealth. Activities not assigned to the reportable operating segments are included in a new All

Other category, which consists of Legacy Franchises and Corporate/Other. For additional information on these changes, see page 3 of Citi’s 3Q23 Form 10-Q.

Page 1

CITIGROUP FINANCIAL SUMMARY

(In millions of dollars, except per share amounts and as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Total revenues, net of interest expense

(1)(2)(3)(4)

$ 19,667 $ 17,753 $ 17,447 $ 17,017 $ 19,186 $ 19,638 $ 18,508 $ 18,006 $ 21,447 $ 19,436 $ 20,139 $ 71,884 $ 75,338

Total operating expenses

(5)

11,413 11,471 11,777 13,532 13,165 12,393 12,749 12,985 13,289 13,570 13,511 48,193 51,292

Net credit losses (NCLs) 1,748 1,320 961 866 872 850 887 1,180 1,302 1,504 1,637 4,895 3,789

Credit reserve build / (release) for loans (3,227) (2,446) (1,149) (1,176) (612) 534 441 593 435 257 179 (7,998) 956

Provision / (release) for unfunded lending commitments (626) 44 (13) (193) 474 (159) (71) 47 (194) (96) (54) (788) 291

Provisions for benefits and claims, HTM debt securities and other

assets 50 16 9 38 21 49 108 25 432 159 78 113 203

Provisions for credit losses and for benefits and claims (2,055) (1,066) (192) (465) 755 1,274 1,365 1,845 1,975 1,824 1,840 (3,778) 5,239

Income from continuing operations before income taxes 10,309 7,348 5,862 3,950 5,266 5,971 4,394 3,176 6,183 4,042 4,788 27,469 18,807

Income taxes

(6)

2,332 1,155 1,193 771 941 1,182 879 640 1,531 1,090 1,203 5,451 3,642

Income from continuing operations 7,977 6,193 4,669 3,179 4,325 4,789 3,515 2,536 4,652 2,952 3,585 22,018 15,165

Income (loss) from discontinued operations, net of taxes

(7)

(2) 10 (1) — (2) (221) (6) (2) (1) (1) 2 7 (231)

Net income before noncontrolling interests 7,975 6,203 4,668 3,179 4,323 4,568 3,509 2,534 4,651 2,951 3,587 22,025 14,934

Net income (loss) attributable to noncontrolling interests 33 10 24 6 17 21 30 21 45 36 41 73 89

Citigroup's net income

$ 7,942 $ 6,193 $ 4,644 $ 3,173 $ 4,306 $ 4,547 $ 3,479 $ 2,513 $ 4,606 $ 2,915 $ 3,546 $ 21,952 $ 14,845

Diluted earnings per share:

Income from continuing operations

$ 3.62 $ 2.84 $ 2.15 $ 1.46 $ 2.02 $ 2.30 $ 1.63 $ 1.16 $ 2.19 $ 1.33 $ 1.63 $ 10.14 $ 7.11

Citigroup's net income

$ 3.62 $ 2.85 $ 2.15 $ 1.46 $ 2.02 $ 2.19 $ 1.63 $ 1.16 $ 2.19 $ 1.33 $ 1.63 $ 10.14 $ 7.00

Preferred dividends $ 292 $ 253 $ 266 $ 229 $ 279 $ 238 $ 277 $ 238 $ 277 $ 288 $ 333 $ 1,040 $ 1,032

Income allocated to unrestricted common shareholders—basic

Income from continuing operations $ 7,586 $ 5,889 $ 4,353 $ 2,924 $ 4,004 $ 4,495 $ 3,180 $ 2,253 $ 4,296 $ 2,595 $ 3,158 $ 20,751 $ 13,930

Citigroup's net income $ 7,584 $ 5,899 $ 4,352 $ 2,924 $ 4,002 4,274 $ 3,174 $ 2,251 $ 4,295 $ 2,594 $ 3,160 $ 20,758 $ 13,700

Income allocated to unrestricted common shareholders—diluted

Income from continuing operations $ 7,593 $ 5,897 $ 4,360 $ 2,932 $ 4,012 $ 4,506 $ 3,191 $ 2,264 $ 4,307 $ 2,610 $ 3,174 $ 20,781 $ 13,971

Citigroup's net income $ 7,591 $ 5,907 $ 4,360 $ 2,932 $ 4,010 $ 4,285 $ 3,185 $ 2,262 $ 4,306 $ 2,609 $ 3,176 $ 20,789 $ 13,741

Shares (in millions):

Average basic 2,082.0 2,056.5 2,009.3 1,984.3 1,971.7 1,941.5 1,936.8 1,936.9 1,943.5 1,942.8 1,924.4 2,033.0 1,946.7

Average diluted 2,096.6 2,073.0 2,026.2 2,001.6 1,988.2 1,958.1 1,955.1 1,955.9 1,964.1 1,968.6 1,951.7 2,049.4 1,964.3

Common shares outstanding, at period end 2,067.0 2,026.8 1,984.3 1,984.4 1,941.9 1,936.7 1,936.9 1,937.0 1,946.8 1,925.7 1,913.9

Regulatory capital ratios and performance metrics:

Common Equity Tier 1 (CET1) Capital ratio

(8)(9)

11.57 % 11.77 % 11.65 % 12.25 % 11.43 % 11.95 % 11.56 % 13.03 % 13.44 % 13.37 % 13.59 % 12.25 % 13.03 %

Tier 1 Capital ratio

(8)(9)

13.24 % 13.28 % 13.15 % 13.91 % 13.05 % 13.62 % 13.18 % 14.80 % 15.31 % 15.24 % 15.40 % 13.91 % 14.80 %

Total Capital ratio

(8)(9)

15.36 % 15.58 % 15.37 % 16.04 % 14.84 % 15.20 % 14.80 % 15.46 % 15.40 % 15.84 % 15.78 % 16.04 % 15.46 %

Supplementary Leverage ratio (SLR)

(9)(10)

6.95 % 5.84 % 5.80 % 5.73 % 5.58 % 5.66 % 5.71 % 5.82 % 5.96 % 5.97 % 6.04 % 5.73 % 5.82 %

Return on average assets 1.39 % 1.06 % 0.79 % 0.53 % 0.74 % 0.77 % 0.58 % 0.41 % 0.76 % 0.47 % 0.58 % 0.94 % 0.62 %

Return on average common equity 17.2 % 13.0 % 9.5 % 6.4 % 9.0 % 9.7 % 7.1 % 5.0 % 9.5 % 5.6 % 6.7 % 11.5 % 7.7 %

Average tangible common equity (TCE) (in billions of dollars) $ 154.7 $ 156.9 $ 157.4 $ 157.0 $ 155.3 $ 154.4 $ 155.5 $ 156.9 $ 161.1 $ 164.1 $ 165.3 $ 156.3 $ 155.9

Return on average tangible common equity

(RoTCE)

(11)

20.1 % 15.2 % 11.0 % 7.4 % 10.5 % 11.2 % 8.2 % 5.8 % 10.9 % 6.4 % 7.7 % 13.4 % 8.9 %

Efficiency ratio (total operating expenses/total revenues, net) 58.0 % 64.6 % 67.5 % 79.5 % 68.6 % 63.1 % 68.9 % 72.1 % 62.0 % 69.8 % 67.1 % 67.0 % 68.1 %

Balance sheet data (in billions of dollars, except per share amounts):

Total assets $ 2,314.3 $ 2,327.9 $ 2,361.9 $ 2,291.4 $ 2,394.1 $ 2,380.9 $ 2,381.1 $ 2,416.7 $ 2,455.1 $ 2,423.7 $ 2,368.5 $ 2,291.4 $ 2,416.7

Total average assets 2,316.8 2,341.8 2,346.0 2,386.2 2,374.0 2,380.1 2,399.4 2,430.6 2,462.2 2,465.6 2,413.8 2,347.7 2,396.0

Total loans 666.0 676.8 664.8 667.8 659.7 657.3 646.0 657.2 652.0 660.6 666.3 667.8 657.2

Total deposits 1,301.0 1,310.3 1,347.5 1,317.2 1,333.7 1,321.8 1,306.5 1,366.0 1,330.5 1,319.9 1,273.5 1,317.2 1,366.0

Citigroup's stockholders' equity 202.5 202.2 200.9 202.0 197.7 199.0 198.6 201.2 208.3 208.7 209.5 202.0 201.2

Book value per share 88.18 90.86 92.16 92.21 92.03 92.95 92.71 94.06 96.59 97.87 99.28 92.21 94.06

Tangible book value per share 75.50 77.87 79.07 79.16 79.03 80.25 80.34 81.65 84.21 85.34 86.90 79.16 81.65

Direct staff (in thousands) 211 214 220 223 228 231 238 240 240 240 240 223 240

(1) See footnote 9 on page 14.

(2) See footnote 7 on page 14.

(3) See footnote 5 on page 14.

(4) See footnote 2 on page 14.

(5) See footnote 3 on page 14.

(6) 2Q21 includes an approximate $600 million benefit from a reduction in Citi’s valuation allowance related to its Deferred Tax Assets (DTAs).

(7) 2Q22 discontinued operations reflects the release of a currency translation adjustment (CTA) loss (net of hedges) recorded in Accumulated Other Comprehensive Income (AOCI) related to the substantial liquidation of a legal entity (with a non-U.S. dollar functional currency), that had previously

divested a legacy business.

(8) Citi's binding CET1 Capital and Tier 1 Capital ratios were derived under the Basel III Standardized Approach from December 31, 2022 to September 30, 2023, and from June 30, 2021 to June 30, 2022. Citi's binding CET1 Capital and Tier 1 Capital ratios were derived under the Basel III Advanced

Approaches framework as of March 31, 2021 and September 30, 2022. Citi's binding Total Capital ratios were derived under the Basel III Advanced Approaches framework for all periods presented. For the composition of Citi's CET1 Capital and ratio, see page 22.

(9) Citi's regulatory capital ratios and components reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses (CECL) standard. For additional information, see "Capital Resources-Regulatory Capital Treatment-Modified Transition

of the Current Expected Credit Losses Methodology" in Citigroup's 2022 Annual Report on Form 10-K.

(10) For the composition of Citi's SLR, see page 22.

(11) TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of Citi's average TCE to Citi's total average stockholders' equity.

Note: Ratios and variance percentages are calculated based on the displayed amounts.

Reclassified to conform to the current period's presentation.

Page 2

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Revenues

Interest revenue $ 12,534 $ 12,463 $ 12,650 $ 12,828 $ 13,151 $ 15,630 $ 19,919 $ 25,708 $ 29,395 $ 32,647 $ 34,837 $ 50,475 $74,408

Interest expense

2,028 1,985 1,959 2,009 2,280 3,666 7,356 12,438 16,047 18,747 21,009 7,981 25,740

Net interest income (NII)

10,506 10,478 10,691 10,819 10,871 11,964 12,563 13,270 13,348 13,900 13,828 42,494 48,668

Commissions and fees 3,670 3,374 3,399 3,229 2,568 2,452 2,139 2,016 2,366 2,132 2,195 13,672 9,175

Principal transactions 3,913 2,304 2,233 1,704 4,590 4,525 2,625 2,419 3,939 2,528 3,008 10,154 14,159

Administrative and other fiduciary fees 961 1,022 1,007 953 966 1,023 915 880 896 989 971 3,943 3,784

Realized gains (losses) on investments 401 137 117 10 80 (58) 52 (7) 72 49 30 665 67

Impairment losses on investments and other assets (69) (13) (30) (94) (90) (96) (91) (222) (86) (71) (70) (206) (499)

Provision for credit losses on AFS debt securities

(1)

— — (1) (2) — 2 5 (2) (1) 1 (1) (3) 5

Other revenue (loss)

285 451 31 398 201 (174) 300 (348) 913 (92) 178 1,165 (21)

Total non-interest revenues (NIR)

9,161 7,275 6,756 6,198 8,315 7,674 5,945 4,736 8,099 5,536 6,311 29,390 26,670

Total revenues, net of interest expense

$ 19,667 $ 17,753 $ 17,447 $ 17,017 $ 19,186 $ 19,638 $ 18,508 $ 18,006 $ 21,447 $ 19,436 $ 20,139 71,884 75,338

Provisions for credit losses and for benefits and claims

Net credit losses 1,748 1,320 961 866 872 850 887 1,180 1,302 1,504 1,637 4,895 3,789

Credit reserve build / (release) for loans

(3,227) (2,446) (1,149) (1,176) (612) 534 441 593 435 257 179 (7,998) 956

Provision for credit losses on loans (1,479) (1,126) (188) (310) 260 1,384 1,328 1,773 1,737 1,761 1,816 (3,103) 4,745

Provision for credit losses on held-to-maturity (HTM) debt securities (11) 4 (10) 14 (2) 20 10 5 (17) (4) (3) (3) 33

Provision for credit losses on other assets 9 (3) (3) (3) (4) 7 73 — 425 149 56 — 76

Policyholder benefits and claims 52 15 22 27 27 22 25 20 24 14 25 116 94

Provision for credit losses on unfunded lending commitments

(626) 44 (13) (193) 474 (159) (71) 47 (194) (96) (54) (788) 291

Total provisions for credit losses and for benefits and

claims

(2)

(2,055) (1,066) (192) (465) 755 1,274 1,365 1,845 1,975 1,824 1,840 (3,778) 5,239

Operating expenses

Compensation and benefits 6,001 5,982 6,058 7,093 6,820 6,472 6,745 6,618 7,538 7,388 7,424 25,134 26,655

Premises and equipment 576 558 560 620 543 619 557 601 598 595 620 2,314 2,320

Technology / communication 1,852 1,895 1,997 2,084 2,016 2,068 2,145 2,358 2,127 2,309 2,256 7,828 8,587

Advertising and marketing 270 340 402 478 311 414 407 424 331 361 324 1,490 1,556

Other operating

(3)

2,714 2,696 2,760 3,257 3,475 2,820 2,895 2,984 2,695 2,917 2,887 11,427 12,174

Total operating expenses

11,413 11,471 11,777 13,532 13,165 12,393 12,749 12,985 13,289 13,570 13,511 48,193 51,292

Income from continuing operations before income taxes 10,309 7,348 5,862 3,950 5,266 5,971 4,394 3,176 6,183 4,042 4,788 27,469 18,807

Provision for income taxes

(4)

2,332 1,155 1,193 771 941 1,182 879 640 1,531 1,090 1,203 5,451 3,642

Income (loss) from continuing operations

7,977 6,193 4,669 3,179 4,325 4,789 3,515 2,536 4,652 2,952 3,585 22,018 15,165

Discontinued operations

(5)

Income (loss) from discontinued operations (2) 10 (1) — (2) (262) (6) (2) (1) (1) 2 7 (272)

Provision (benefit) for income taxes

— — — — — (41) — — — — — — (41)

Income (loss) from discontinued operations, net of taxes

(2) 10 (1) — (2) (221) (6) (2) (1) (1) 2 7 (231)

Net income before noncontrolling interests 7,975 6,203 4,668 3,179 4,323 4,568 3,509 2,534 4,651 2,951 3,587 22,025 14,934

Net income (loss) attributable to noncontrolling interests

33 10 24 6 17 21 30 21 45 36 41 73 89

Citigroup's net income

$ 7,942 $ 6,193 $ 4,644 $ 3,173 $ 4,306 $ 4,547 $ 3,479 $ 2,513 $ 4,606 $ 2,915 $ 3,546 $ 21,952 $14,845

(1) This presentation is in accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue.

(2) This total excludes the provision for credit losses on AFS securities, which is disclosed separately above.

(3) See footnote 3 on page 14.

(4) See footnote 6 on page 1.

(5) See footnote 7 on page 1.

Reclassified to conform to the current period's presentation.

Page 3

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)

March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, March 31, June 30, September 30,

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023

Assets

Cash and due from banks (including segregated cash and other deposits) $ 26,204 $ 27,117 $ 28,906 $ 27,515 $ 27,768 $ 24,902 $ 26,502 $ 30,577 $ 26,224 $ 25,763 $ 26,548

Deposits with banks, net of allowance 298,478 272,121 294,902 234,518 244,319 259,128 273,105 311,448 302,735 271,145 227,439

Securities borrowed and purchased under agreements to resell, net of allowance 315,072 309,047 337,696 327,288 345,410 361,334 349,214 365,401 384,198 337,103 335,059

Brokerage receivables, net of allowance 60,465 61,138 59,487 54,340 89,218 80,486 79,696 54,192 55,491 60,850 66,194

Trading account assets 360,659 370,950 342,914 331,945 357,997 340,875 358,260 334,114 383,906 423,189 406,368

Investments

Available-for-sale debt securities 304,036 302,977 295,573 288,522 264,774 238,499 232,143 249,679 240,487 237,334 241,783

Held-to-maturity debt securities, net of allowance 161,742 176,742 198,056 216,963 242,547 267,592 267,864 268,863 264,342 262,066 259,456

Equity securities 7,181 7,344 7,220 7,337 7,281 7,787 8,009 8,040 7,749 7,745 7,759

Total investments 472,959 487,063 500,849 512,822 514,602 513,878 508,016 526,582 512,578 507,145 508,998

Loans, net of unearned income

Consumer

(2)

375,532 380,804 369,292 376,534 350,328 355,605 357,583 368,067 363,696 374,591 377,714

Corporate

(3)

290,456 296,030 295,472 291,233 309,341 301,728 288,377 289,154 288,299 286,021 288,634

Loans, net of unearned income 665,988 676,834 664,764 667,767 659,669 657,333 645,960 657,221 651,995 660,612 666,348

Allowance for credit losses on loans (ACLL) (21,638) (19,238) (17,715) (16,455) (15,393) (15,952) (16,309) (16,974) (17,169) (17,496) (17,629)

Total loans, net 644,350 657,596 647,049 651,312 644,276 641,381 629,651 640,247 634,826 643,116 648,719

Goodwill 21,905 22,060 21,573 21,299 19,865 19,597 19,326 19,691 19,882 19,998 19,829

Intangible assets (including MSRs) 4,741 4,687 4,553 4,495 4,522 4,526 4,485 4,428 4,632 4,576 4,540

Property, plant and equipment, net 23,379 23,658 23,671 24,328 24,624 24,788 25,157 26,253 27,119 27,818 27,959

Other assets, net of allowance 86,054 92,431 100,276 101,551 121,504 110,009 107,652 103,743 103,522 102,972 96,824

Total assets

$ 2,314,266 $ 2,327,868 $ 2,361,876 $ 2,291,413 $ 2,394,105 $ 2,380,904 $ 2,381,064 $ 2,416,676 $2,455,113 $2,423,675 $ 2,368,477

Liabilities

Non-interest-bearing deposits in U.S. offices $ 138,192 $ 149,373 $ 145,103 $ 158,552 $ 153,666 $ 147,214 $ 135,514 $ 122,655 $ 123,969 $ 109,844 $ 104,061

Interest-bearing deposits in U.S. offices 497,335 485,589 567,902 543,283 557,327 565,785 570,920 607,470 587,477 590,700 569,428

Total U.S. deposits 635,527 634,962 713,005 701,835 710,993 712,999 706,434 730,125 711,446 700,544 673,489

Non-interest-bearing deposits in offices outside the U.S. 101,662 101,723 94,016 97,270 98,579 100,266 98,904 95,182 90,404 91,899 84,663

Interest-bearing deposits in offices outside the U.S. 563,786 573,596 540,507 518,125 524,139 508,583 501,148 540,647 528,609 527,424 515,354

Total international deposits 665,448 675,319 634,523 615,395 622,718 608,849 600,052 635,829 619,013 619,323 600,017

Total deposits 1,300,975 1,310,281 1,347,528 1,317,230 1,333,711 1,321,848 1,306,486 1,365,954

1,330,459

1,319,867 1,273,506

Securities loaned and sold under agreements to resell 219,168 221,817 209,184 191,285 204,494 198,472 203,429 202,444 257,681 260,035 256,770

Brokerage payables 60,907 59,416 60,501 61,430 91,324 96,474 87,841 69,218 76,708 69,433 75,076

Trading account liabilities 179,117 174,706 179,286 161,529 188,059 180,453 196,479 170,647 185,010 170,664 164,624

Short-term borrowings 32,087 31,462 29,683 27,973 30,144 40,054 47,368 47,096 40,187 40,430 43,166

Long-term debt 256,335 264,575 258,274 254,374 253,954 257,425 253,068 271,606 279,684 274,510 275,760

Other liabilities

(4)

62,404 62,701 75,810 74,920 94,066 86,552 87,276 87,873 76,365 79,314 69,380

Total liabilities $ 2,110,993 $ 2,124,958 $ 2,160,266 $ 2,088,741 $ 2,195,752 $ 2,181,278 $ 2,181,947 $ 2,214,838 $2,246,094 $2,214,253 $ 2,158,282

Equity

Stockholders' equity

Preferred stock $ 20,280 $ 17,995 $ 17,995 $ 18,995 $ 18,995 $ 18,995 $ 18,995 $ 18,995 $ 20,245 $ 20,245 $ 19,495

Common stock 31 31 31 31 31 31 31 31 31 31 31

Additional paid-in capital 107,694 107,820 107,922 108,003 108,050 108,210 108,347 108,458 108,369 108,579 108,757

Retained earnings 174,816 179,686 183,024 184,948 187,962 191,261 193,462 194,734 198,353 199,976 202,135

Treasury stock, at cost (65,261) (68,253) (71,246) (71,240) (73,744) (73,988) (73,977) (73,967) (73,262) (74,247) (74,738)

Accumulated other comprehensive income (loss) (AOCI) (35,011) (35,120) (36,851) (38,765) (43,585) (45,495) (48,298) (47,062) (45,441) (45,865) (46,177)

Total common equity $ 182,269 $ 184,164 $ 182,880 $ 182,977 $ 178,714 $ 180,019 $ 179,565 $ 182,194 $ 188,050 $ 188,474 $ 190,008

Total Citigroup stockholders' equity $ 202,549 $ 202,159 $ 200,875 $ 201,972 $ 197,709 $ 199,014 $ 198,560 $ 201,189 $ 208,295 $ 208,719 $ 209,503

Noncontrolling interests 724 751 735 700 644 612 557 649 724 703 692

Total equity 203,273 202,910 201,610 202,672 198,353 199,626 199,117 201,838 209,019 209,422 210,195

Total liabilities and equity

$ 2,314,266 $ 2,327,868 $ 2,361,876 $ 2,291,413 $ 2,394,105 $ 2,380,904 $ 2,381,064 $ 2,416,676 $2,455,113 $2,423,675 $ 2,368,477

(1) Not used.

(2) Consumer loans include loans managed by USPB, Wealth and All Other-Legacy Franchises (other than Mexico Small Business and Middle-Market Banking (Mexico SBMM) loans) that are included in Consumer loans.

(3) Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises-Mexico SBMM that are included in Corporate loans.

(4) Includes allowance for credit losses for unfunded lending commitments. See page 19.

Reclassified to conform to the current period's presentation.

Page 4

OPERATING SEGMENT, REPORTING UNIT AND COMPONENT DETAILS

(In millions of dollars)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Revenues, net of interest expense

Services $ 2,996 $ 3,131 $ 3,130 $ 3,266 $ 3,344 $ 3,931 $ 4,080 $ 4,264 $ 4,383 $ 4,545 $ 4,622 $ 12,523 $ 15,619

Markets 6,401 4,577 4,776 3,645 6,112 5,536 4,326 4,187 5,817 4,838 4,792 19,399 20,161

Banking 1,987 1,814 2,039 1,943 1,654 1,898 1,066 778 1,141 1,134 1,344 7,783 5,396

U.S. Personal Banking 4,066 3,816 3,966 3,997 3,998 4,134 4,333 4,407 4,711 4,619 4,917 15,845 16,872

Wealth 1,939 1,898 1,900 1,805 1,932 1,920 1,873 1,723 1,766 1,799 1,855 7,542 7,448

All Other—managed basis

(1)(2)

2,278 2,517 2,293 2,374 2,193 2,141 2,216 2,438 2,611 2,507 2,213 9,462 8,988

Reconciling Items—Divestiture-related impacts

(3) — — (657) (13) (47) 78 614 209 1,018 (6) 396 (670) 854

Total net revenues—reported

$ 19,667 $ 17,753 $ 17,447 $ 17,017 $ 19,186 $ 19,638 $ 18,508 $ 18,006 $ 21,447 $ 19,436 $ 20,139 $ 71,884 $ 75,338

Income (loss) from continuing operations

Services $ 910 $ 1,010 $ 909 $ 939 $ 564 $ 1,445 $ 1,536 $ 1,379 $ 1,302 $ 1,224 $ 1,348 $ 3,768 $ 4,924

Markets 2,929 1,564 1,476 692 2,361 1,921 839 803 1,894 1,167 1,081 6,661 5,924

Banking 1,661 924 775 745 (188) 696 (67) (58) 66 42 170 4,105 383

U.S. Personal Banking 1,927 1,325 1,488 1,359 1,608 444 664 54 402 461 756 6,099 2,770

Wealth 612 544 489 323 356 202 217 175 159 64 118 1,968 950

All Other—managed basis

(1)(2) (62) 826 112 183 212 46 70 70 181 86 (102) 1,059 398

Reconciling Items—Divestiture-related impacts

(3)

— — (580) (1,062) (588) 35 256 113 648 (92) 214 (1,642) (184)

Income from continuing operations—reported 7,977 6,193 4,669 3,179 4,325 4,789 3,515 2,536 4,652 2,952 3,585 22,018 15,165

Discontinued operations (2) 10 (1) — (2) (221) (6) (2) (1) (1) 2 7 (231)

Net income attributable to noncontrolling interests

33 10 24 6 17 21 30 21 45 36 41 73 89

Net income

$ 7,942 $ 6,193 $ 4,644 $ 3,173 $ 4,306 $ 4,547 $ 3,479 $ 2,513 $ 4,606 $ 2,915 $ 3,546 $ 21,952 $ 14,845

(1) Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal, and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses, and income taxes,

as well as Corporate Treasury investment activities and discontinued operations.

(2) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's sales of its Asia consumer banking businesses and the divestiture of Mexico consumer banking, small business and middle markets within Legacy Franchises. See page 14 for

additional information.

(3) Reconciling Items consist of the divestiture-related impacts excluded from All Other on a managed basis. See page 14 for additional information. The Reconciling Items are fully reflected in the various line items on Citi's Consolidated Statement of Income (page 2).

Reclassified to conform to the current period's presentation.

Page 5

SERVICES

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Net interest income (including dividends)

$ 1,665 $ 1,698 $ 1,677 $ 1,781 $ 2,025 $ 2,475 $ 2,783 $ 3,035 $ 3,115 $ 3,232 $ 3,426 $ 6,821 $ 10,318

Fee revenue

Commissions and fees 580 626 663 681 684 751 730 717 740 785 780 2,550 2,882

Other 593 635 615 604 620 683 606 581 605 663 632 2,447 2,490

Total fee revenue

1,173 1,261 1,278 1,285 1,304 1,434 1,336 1,298 1,345 1,448 1,412 4,997 5,372

Principal transactions 181 197 194 210 199 229 214 212 226 242 267 782 854

All other

(1)

(23) (25) (19) (10) (184) (207) (253) (281) (303) (377) (483) (77) (925)

Total Non-interest revenue

1,331 1,433 1,453 1,485 1,319 1,456 1,297 1,229 1,268 1,313 1,196 5,702 5,301

Total revenues, net of interest expense 2,996 3,131 3,130 3,266 3,344 3,931 4,080 4,264 4,383 4,545 4,622 12,523 15,619

Total operating expenses

1,922 1,853 1,934 1,997 2,240 1,987 2,112 2,389 2,408 2,504 2,518 7,706 8,728

Net credit losses on loans — 22 1 19 15 32 (3) 7 6 13 27 42 51

Credit reserve build / (release) for loans (107) (96) (37) (8) 241 (7) (107) 1 (72) (14) 6 (248) 128

Provision for credit losses on unfunded lending commitments (37) (2) — (22) 73 (24) (6) (19) 7 (26) 23 (61) 24

Provisions for credit losses for HTM debt securities and other assets 1 — — 3 1 1 1 1 45 250 39 4 4

Provision for credit losses

(143) (76) (36) (8) 330 2 (115) (10) (14) 223 95 (263) 207

Income from continuing operations before taxes

1,217 1,354 1,232 1,277 774 1,942 2,083 1,885 1,989 1,818 2,009 5,080 6,684

Income taxes 307 344 323 338 210 497 547 506 687 594 661 1,312 1,760

Income from continuing operations

910 1,010 909 939 564 1,445 1,536 1,379 1,302 1,224 1,348 3,768 4,924

Noncontrolling interests 1 1 1 3 6 9 10 11 13 16 16 6 36

Net income

$ 909 $ 1,009 $ 908 $ 936 $ 558 $ 1,436 $ 1,526 $ 1,368 $ 1,289 $ 1,208 $ 1,332 $ 3,762 $ 4,888

EOP assets (in billions)

$ 546 $ 545 $ 564 $ 547 $ 546 $ 544 $ 559 $ 599 $ 585 $ 584 $ 551 $ 547 $ 599

Average assets (in billions) 539 549 557 580 549 525 529 577 598 583 565 556 545

Efficiency ratio 64 % 59 % 62 % 61 % 67 % 51 % 52 % 56 % 55 % 55 % 54 % 62 % 56 %

Average allocated TCE (in billions)

(2)

$ 23.9 $ 23.9 $ 23.9 $ 23.9 $ 22.5 $ 22.5 $ 22.5 $ 22.5 $ 23.0 $ 23.0 $ 23.0 23.9 22.5

RoTCE

(2)

15.4 % 16.9 % 15.1 % 15.5 % 10.1 % 25.6 % 26.9 % 24.1 % 22.7 % 21.1 % 23.0 % 15.7 % 21.7 %

Revenue by component

Net interest income $ 1,449 $ 1,480 $ 1,448 $ 1,536 $ 1,765 $ 2,156 $ 2,377 $ 2,534 $ 2,600 $ 2,705 $ 2,853 $ 5,913 $ 8,832

Non-interest revenue 734 797 839 877 731 787 739 690 726 701 643 3,247 2,947

Treasury and Trade Solutions

2,183 2,277 2,287 2,413 2,496 2,943 3,116 3,224 3,326 3,406 3,496 9,160 11,779

Net interest income

216 218 229 245 260 319 406 501 515 527 573 908 1,486

Non-interest revenue 597 636 614 608 588 669 558 539 542 612 553 2,455 2,354

Securities Services

813 854 843 853 848 988 964 1,040 1,057 1,139 1,126 3,363 3,840

Total Services

$ 2,996 $ 3,131 $ 3,130 $ 3,266 $ 3,344 $ 3,931 $ 4,080 $ 4,264 $ 4,383 $ 4,545 $ 4,622 $ 12,523 $ 15,619

Revenue by geography

North America $ 879 $ 957 $ 916 $ 996 $ 1,031 $ 1,272 $ 1,256 $ 1,223 $ 1,204 $ 1,295 $ 1,333 $ 3,748 $ 4,782

International 2,117 2,174 2,214 2,270 2,313 2,659 2,824 3,041 3,179 3,250 3,289 8,775 10,837

Total

$ 2,996 $ 3,131 $ 3,130 $ 3,266 $ 3,344 $ 3,931 $ 4,080 $ 4,264 $ 4,383 $ 4,545 $ 4,622 $ 12,523 $ 15,619

Key drivers (in billions of dollars, except as otherwise noted)

Average loans by reporting unit (in billions)

Treasury and Trade Solutions (TTS) $ 68 $ 72 $ 74 $ 76 $ 79 $ 84 $ 80 $ 76 $ 78 $ 79 $ 82 $ 72 $ 80

Securities Services 1 2 1 2 2 2 1 2 1 1 1 2 2

Total

$ 69 $ 74 $ 75 $ 78 $ 81 $ 86 $ 81 $ 78 $ 79 $ 80 $ 83 $ 74 $ 82

ACLL as a % of EOP loans

(3)

0.45 % 0.29 % 0.24 % 0.24 % 0.49 % 0.58 % 0.45 % 0.46 % 0.36 % 0.32 % 0.33 %

Average deposits by reporting unit and selected component (in billions)

Treasury and Trade Solutions (TTS) $ 657 $ 657 $ 674 $ 690 $ 670 $ 672 $ 664 $ 694 $ 704 $ 688 $ 676 $ 670 $ 675

Securities Services 128 137 135 140 135 136 131 131 125 125 120 135 133

Total

$ 785 $ 794 $ 809 $ 830 $ 805 $ 808 $ 795 $ 825 $ 829 $ 813 $ 796 $ 805 $ 808

AUC/AUA (in trillions of dollars) $ 21.2 $ 22.7 $ 22.6 $ 23.7 $ 23.0 $ 21.2 $ 20.9 $ 22.2 $ 23.0 $ 23.6 $ 23.0

Cross-border transaction value $ 64.5 $ 67.8 $ 69.0 $ 78.2 $ 75.6 $ 79.3 $ 75.6 $ 81.1 $ 83.0 $ 87.8 $ 87.8 $ 280 $ 312

U.S. dollar clearing volume (in millions) 35.4 36.0 37.0 37.8 36.1 36.7 37.6 38.2 38.3 38.8 40.0 146 149

Commercial card spend volume $ 7.4 $ 9.3 $ 10.5 $ 11.4 $ 11.4 $ 15.0 $ 15.6 $ 15.4 $ 16.0 $ 17.3 $ 16.9 $ 38.6 $ 57.4

(1) Services includes revenues earned by Citi that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to clients.

(2) TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citi's total average TCE and Citi's total average stockholders' equity.

(3) Excludes loans that are carried at fair value for all periods.

Reclassified to conform to the current period's presentation.

Page 6

MARKETS

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023

2021 2022

Net interest income (including dividends) $ 1,559 $ 1,606 $ 1,493 $ 1,489 $ 1,295 $ 1,574 $ 1,368 $ 1,582 $ 1,562 $ 2,009 $ 1,700 $ 6,147 $ 5,819

Fee revenue

Brokerage and fees

(1)

461 366 355 348 429 360 335 328 385 331 337 1,530 1,452

Investment banking fees 139 162 165 190 112 135 128 106 89 97 103 656 481

Other 52 47 38 39 36 29 34 40 40 32 32 176 139

Total fee revenue 652 575 558 577 577 524 497 474 514 460 472 2,362 2,072

Principal transactions 3,752 2,138 2,200 1,557 4,245 3,719 2,777 2,346 3,915 2,540 2,874 9,647 13,087

All other

(2)

438 258 525 22 (5) (281) (316) (215) (174) (171) (254) 1,243 (817)

Total Non-interest revenue 4,842 2,971 3,283 2,156 4,817 3,962 2,958 2,605 4,255 2,829 3,092 13,252 14,342

Total revenues, net of interest expense 6,401 4,577 4,776 3,645 6,112 5,536 4,326 4,187 5,817 4,838 4,792 19,399 20,161

Total operating expenses 2,861 2,800 2,819 2,892 3,108 3,048 3,083 3,174 3,163 3,338 3,303 11,372 12,413

Net credit losses on loans 108 (17) — 6 (6) 2 (2) 1 4 2 (4) 97 (5)

Credit reserve build / (release) for loans (230) (178) 116 (33) (80) 8 117 35 63 (24) 124 (325) 80

Provision for credit losses on unfunded

lending commitments (67) (9) 4 (29) 9 (11) 2 10 (3) (11) 3 (101) 10

Provisions for credit losses for HTM debt

securities and other assets (6) 7 (9) 8 (7) 20 64 (7) 19 15 40 — 70

Provision for credit losses

(195) (197) 111 (48) (84) 19 181 39 83 (18) 163 (329) 155

Income from continuing operations before

taxes

3,735 1,974 1,846 801 3,088 2,469 1,062 974 2,571 1,518 1,326 8,356 7,593

Income taxes 806 410 370 109 727 548 223 171 677 351 245 1,695 1,669

Income from continuing operations 2,929 1,564 1,476 692 2,361 1,921 839 803 1,894 1,167 1,081 6,661 5,924

Noncontrolling interests 22 3 9 4 11 15 10 16 21 19 15 38 52

Net income $ 2,907 $ 1,561 $ 1,467 $ 688 $ 2,350 $ 1,906 $ 829 $ 787 $ 1,873 $ 1,148 $ 1,066 $ 6,623 $ 5,872

EOP assets (in billions)

$ 916 $ 933 $ 932 $ 895 $ 976 $ 973 $ 961 $ 950 $ 1,009 $ 1,006 $ 996 $ 895 $ 950

Average assets (in billions) 937 938 927 938 956 989 1,011 979 994 1,032 1,018 935 984

Efficiency ratio 45 % 61 % 59 % 79 % 51 % 55 % 71 % 76 % 54 % 69 % 69 % 59 % 62 %

Average allocated TCE (in billions)

(3)

$ 45.0 $ 45.0 $ 45.0 $ 45.0 $ 51.6 $ 51.6 $ 51.6 $ 51.6 $ 53.1 $ 53.1 $ 53.1 45.0 51.6

RoTCE

(3)

26.2 % 13.9 % 12.9 % 6.1 % 18.5 % 14.8 % 6.4 % 6.1 % 14.3 % 8.7 % 8.0 % 14.7 % 11.4 %

Revenue by component

Fixed Income markets $ 4,791 $ 3,421 $ 3,418 $ 2,715 $ 4,586 $ 4,316 $ 3,369 $ 3,439 $ 4,650 $ 3,729 $ 3,850 $ 14,345 $ 15,710

Equity markets 1,610 1,156 1,358 930 1,526 1,220 957 748 1,167 1,109 942 5,054 4,451

Total $ 6,401 $ 4,577 $ 4,776 $ 3,645 $ 6,112 $ 5,536 $ 4,326 $ 4,187 $ 5,817 $ 4,838 $ 4,792 $ 19,399 $ 20,161

Rates and currencies $ 3,023 $ 1,977 $ 2,116 $ 1,722 $ 3,178 $ 3,209 $ 2,441 $ 2,728 $ 3,578 $ 2,780 $ 2,769 $ 8,838 $ 11,556

Spread products / other fixed income 1,768 1,444 1,302 993 1,408 1,107 928 711 1,072 949 1,081 5,507 4,154

Total Fixed Income markets revenues $ 4,791 $ 3,421 $ 3,418 $ 2,715 $ 4,586 $ 4,316 $ 3,369 $ 3,439 $ 4,650 $ 3,729 $ 3,850 $ 14,345 $ 15,710

Revenue by geography

North America $ 2,744 $ 1,591 $ 1,838 $ 1,347 $ 1,939 $ 2,166 $ 1,550 $ 1,191 $ 2,063 $ 1,720 $ 1,923 $ 7,520 $ 6,846

International 3,657 2,986 2,938 2,298 4,173 3,370 2,776 2,996 3,754 3,118 2,869 11,879 13,315

Total $ 6,401 $ 4,577 $ 4,776 $ 3,645 $ 6,112 $ 5,536 $ 4,326 $ 4,187 $ 5,817 $ 4,838 $ 4,792 $ 19,399 $ 20,161

Key drivers (in billions of dollars)

Average loans $ 107 $ 113 $ 115 $ 113 $ 111 $ 112 $ 110 $ 111 $ 111 $ 107 $ 108 $ 112 $ 111

NCLs as a % of average loans 0.41 % (0.06)% 0.00 % 0.02 % (0.02)% 0.01 % (0.01)% 0.00 % 0.01 % 0.01 % (0.01)% 0.09 % 0.00 %

ACLL as a % of EOP loans

(4)

0.66 % 0.47 % 0.60 % 0.54 % 0.46 % 0.46 % 0.56 % 0.58 % 0.66 % 0.67 % 0.76 %

Average Trading account assets $ 355 $ 347 $ 338 $ 328 $ 326 $ 331 $ 346 $ 332 $ 349 $ 382 $ 393 $ 342 $ 334

Average deposits 23 23 21 21 20 21 21 21 23 23 24 22 21

(1) Investment banking fees are primarily composed of underwriting, advisory, loan syndication structuring, and other related financing activity.

(2) Markets includes revenues earned by Citi that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to clients.

(3) TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citi's total average TCE and Citi's total average stockholders' equity.

(4) Excludes loans that are carried at fair value for all periods.

Reclassified to conform to the current period's presentation.

Page 7

BANKING

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Net interest income (including dividends) $ 555 $ 507 $ 598 $ 544 $ 514 $ 533 $ 481 $ 529 $ 491 $ 522 $ 544 $ 2,204 $ 2,057

Fee revenue

Investment banking fees

(1)

1,637 1,396 1,512 1,473 917 844 685 607 740 573 694 6,018 3,053

Other

92 107 71 60 46 45 37 46 42 39 39 330 174

Total Fee revenue

1,729 1,503 1,583 1,533 963 889 722 653 782 612 733 6,348 3,227

Principal transactions (154) (148) (126) (73) 58 468 (207) (452) (334) (216) (163) (501) (133)

All other

(2)

(143) (48) (16) (61) 119 8 70 48 202 216 230 (268) 245

Total Non-interest revenue 1,432 1,307 1,441 1,399 1,140 1,365 585 249 650 612 800 5,579 3,339

Total revenues, net of interest expense

1,987 1,814 2,039 1,943 1,654 1,898 1,066 778 1,141 1,134 1,344 7,783 5,396

Total operating expenses 1,047 1,051 1,096 1,212 1,213 1,230 1,183 845 1,232 1,262 1,220 4,406 4,471

Net credit losses on loans 67 63 30 57 21 (16) 5 96 12 58 28 217 106

Credit reserve build / (release) for loans (766) (538) (65) (151) 435 (77) 65 (153) (66) (112) (29) (1,520) 270

Provision for credit losses on unfunded lending commitments (502) 58 (17) (130) 270 (134) (55) 72 (174) (51) (66) (591) 153

Provisions for credit losses for HTM debt securities and other

assets — (4) 1 (1) (1) 4 5 12 87 (42) 5 (4) 20

Provision for credit losses (1,201) (421) (51) (225) 725 (223) 20 27 (141) (147) (62) (1,898) 549

Income (loss) from continuing operations before taxes 2,141 1,184 994 956 (284) 891 (137) (94) 50 19 186 5,275 376

Income taxes 480 260 219 211 (96) 195 (70) (36) (16) (23) 16 1,170 (7)

Income (loss) from continuing operations 1,661 924 775 745 (188) 696 (67) (58) 66 42 170 4,105 383

Noncontrolling interests 5 1 — 2 — — — (3) 2 1 1 8 (3)

Net income (loss)

$ 1,656 $ 923 $ 775 $ 743 $ (188) $ 696 $ (67) $ (55) $ 64 $ 41 $ 169 $ 4,097 $ 386

EOP assets (in billions) $ 153 $ 151 $ 149 $ 145 $ 157 $ 155 $ 155 $ 152 $ 146 $ 147 $ 145 $ 145 $ 152

Average assets (in billions) 160 155 152 154 157 158 162 160 155 154 150 155 159

Efficiency ratio 53 % 58 % 54 % 62 % 73 % 65 % 111 % 109 % 108 % 111 % 91 % 57 % 83 %

Average allocated TCE (in billions)

(3)

$ 20.2 $ 20.2 $ 20.2 $ 20.2 $ 21.7 $ 21.7 $ 21.7 $ 21.7 $ 21.4 $ 21.4 $ 21.4 20.2 21.7

RoTCE

(3)

33.2 % 18.3 % 15.2 % 14.6 % (3.5%) 12.9 % (1.2%) (1.0%) 1.2 % 0.8 % 3.1 % 20.3 % 1.8 %

Revenue by component

Total Investment Banking $ 1,591 $ 1,405 $ 1,614 $ 1,479 $ 823 $ 660 $ 502 $ 525 $ 675 $ 501 $ 693 $ 6,089 $ 2,510

Corporate Lending—excluding gain/(loss) on loan hedges

(2)(4)

474 446 471 443 662 744 620 553 665 699 698 1,834 2,579

Total Banking revenues (ex-gain/(loss) on loan hedges)

(2)(4)

2,065 1,851 2,085 1,922 1,485 1,404 1,122 1,078 1,340 1,200 1,391 7,923 5,089

Gain/(loss) on loan hedges

(2)(4)

(78) (37) (46) 21 169 494 (56) (300) (199) (66) (47) (140) 307

Total Banking revenues including gain/(loss) on loan

hedges

(2)(4)

$ 1,987 $ 1,814 $ 2,039 $ 1,943 $ 1,654 $ 1,898 $ 1,066 $ 778 $ 1,141 $ 1,134 $ 1,344 $ 7,783 $ 5,396

Business Metrics—Investment Banking Fees

Advisory $ 278 $ 403 $ 533 $ 571 $ 347 $ 345 $ 382 $ 258 $ 276 $ 156 $ 299 $ 1,785 $ 1,332

Equity underwriting (Equity Capital Markets (ECM)) 813 444 442 453 183 181 125 132 109 158 123 2,152 621

Debt underwriting (Debt Capital Markets (DCM)) 546 549 537 449 387 318 178 217 355 259 272 2,081 1,100

Total

$ 1,637 $ 1,396 $ 1,512 $ 1,473 $ 917 $ 844 $ 685 $ 607 $ 740 $ 573 $ 694 $ 6,018 $ 3,053

Revenue by geography

North America $ 981 $ 853 $ 1,093 $ 1,029 $ 837 $ 1,062 $ 397 $ 157 $ 370 $ 430 $ 597 $ 3,956 $ 2,453

International 1,006 961 946 914 817 836 669 621 771 704 747 3,827 2,943

Total

$ 1,987 $ 1,814 $ 2,039 $ 1,943 $ 1,654 $ 1,898 $ 1,066 $ 778 $ 1,141 $ 1,134 $ 1,344 $ 7,783 $ 5,396

Key drivers (in billions of dollars)

Average loans $ 105 $ 100 $ 99 $ 98 $ 97 $ 99 $ 100 $ 96 $ 93 $ 91 $ 87 $ 101 $ 98

NCLs as a % of average loans 0.26 % 0.25 % 0.12 % 0.23 % 0.09 % (0.06%) 0.02 % 0.40 % 0.05 % 0.26 % 0.13 % 0.21 % 0.11 %

ACLL as a % of EOP loans

(5)

2.25 % 1.77 % 1.66 % 1.56 % 1.91 % 1.83 % 2.01 % 1.89 % 1.86 % 1.77 % 1.78 %

Average deposits 1 1 1 1 1 1 1 2 1 1 1 1 1

(1) Investment banking fees are primarily composed of underwriting, advisory, loan syndication structuring, and other related financing activity.

(2) Banking includes revenues earned by Citi that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to clients.

(4) Credit derivatives are used to economically hedge a portion of the corporate loan portfolio that includes both accrual loans and loans at fair value. Gain/(loss) on loan hedges includes the mark-to-market on the credit derivatives partially offset by the mark-to-market on the

loans in the portfolio that are at fair value. Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio. The fixed premium costs of these hedges are netted against the corporate lending revenues

to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain/(loss) on loan hedges are non-GAAP financial measures.

(5) Excludes loans that are carried at fair value for all periods.

Reclassified to conform to the current period's presentation.

Page 8

U.S. PERSONAL BANKING

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Net interest income $ 4,076 $ 3,894 $ 4,100 $ 4,215 $ 4,244 $ 4,417 $ 4,665 $ 4,736 $ 4,854 $ 4,883 $ 5,175 $ 16,285 $ 18,062

Fee revenue

Interchange fees 1,642 2,008 2,051 2,193 2,044 2,370 2,354 2,422 2,277 2,482 2,434 7,894 9,190

Card rewards and partner payments (1,910) (2,264) (2,364) (2,567) (2,446) (2,808) (2,776) (2,832) (2,590) (2,827) (2,777) (9,105) (10,862)

Other

137 126 133 131 132 129 102 99 104 72 75 527 462

Total fee revenue (131) (130) (180) (243) (270) (309) (320) (311) (209) (273) (268) (684) (1,210)

All other

121 52 46 25 24 26 (12) (18) 66 9 10 244 20

Total Non-interest revenue (10) (78) (134) (218) (246) (283) (332) (329) (143) (264) (258) (440) (1,190)

Total revenues, net of interest expense

4,066 3,816 3,966 3,997 3,998 4,134 4,333 4,407 4,711 4,619 4,917 15,845 16,872

Total operating expenses 2,007 2,158 2,204 2,485 2,306 2,419 2,448 2,609 2,529 2,498 2,481 8,854 9,782

Net credit losses on loans 951 818 617 553 681 679 706 852 1,074 1,218 1,343 2,939 2,918

Credit reserve build / (release) for loans (1,409) (910) (804) (830) (1,096) 441 305 867 576 303 114 (3,953) 517

Provision for credit losses on unfunded lending

commitments (1) 1 1 (2) (1) — — — — 1 (1) (1) (1)

Provisions for benefits and claims, and other assets

2 5 3 7 1 4 5 4 (1) 3 3 17 14

Provisions for credit losses and for benefits and claims

(PBC)

(457) (86) (183) (272) (415) 1,124 1,016 1,723 1,649 1,525 1,459 (998) 3,448

Income (loss) from continuing operations before taxes 2,516 1,744 1,945 1,784 2,107 591 869 75 533 596 977 7,989 3,642

Income taxes (benefits)

589 419 457 425 499 147 205 21 131 135 221 1,890 872

Income (loss) from continuing operations 1,927 1,325 1,488 1,359 1,608 444 664 54 402 461 756 6,099 2,770

Noncontrolling interests

— — — — — — — — — — — — —

Net income (loss)

$ 1,927 $ 1,325 $ 1,488 $ 1,359 $ 1,608 $ 444 $ 664 $ 54 $ 402 $ 461 $ 756 $ 6,099 $ 2,770

EOP assets (in billions) $ 209 $ 204 $ 213 $ 211 $ 207 $ 214 $ 218 $ 231 $ 228 $ 228 $ 231 $ 211 $ 231

Average assets (in billions) 209 207 210 213 207 209 214 223 231 229 230 210 213

Efficiency ratio 49 % 57 % 56 % 62 % 58 % 59 % 56 % 59 % 54 % 54 % 50 % 56 % 58 %

Average allocated TCE (in billions)

(1)

$ 21.0 $ 21.0 $ 21.0 $ 21.0 $ 20.7 $ 20.7 $ 20.7 $ 20.7 $ 21.9 $ 21.9 $ 21.9 21.0 20.7

RoTCE

(1)

37.2 % 25.3 % 28.1 % 25.7 % 31.5 % 8.6 % 12.7 % 1.0 % 7.4 % 8.4 % 13.7 % 29.0 % 13.4 %

Revenue by component

Branded Cards $ 2,113 $ 1,978 $ 2,054 $ 2,091 $ 2,110 $ 2,188 $ 2,275 $ 2,389 $ 2,472 $ 2,357 $ 2,539 $ 8,236 $ 8,962

Retail Services 1,311 1,215 1,284 1,296 1,307 1,306 1,435 1,421 1,610 1,643 1,728 5,106 5,469

Retail Banking

642 623 628 610 581 640 623 597 629 619 650 2,503 2,441

Total

$ 4,066 $ 3,816 $ 3,966 $ 3,997 $ 3,998 $ 4,134 $ 4,333 $ 4,407 $ 4,711 $ 4,619 $ 4,917 $ 15,845 $ 16,872

Average loans and deposits (in billions)

Average loans $ 159 $ 156 $ 158 $ 162 $ 161 $ 167 $ 174 $ 180 $ 184 $ 189 $ 196 $ 159 $ 171

ACLL as a % of EOP loans

(2)

8.88 % 8.17 % 7.67 % 6.80 % 6.28 % 6.19 % 6.24 % 6.31 % 6.62 % 6.44 % 6.36 %

Average deposits 108 113 114 114 118 116 115 111 111 113 110 112 115

(1) TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citi's total average TCE and Citi's total average stockholders' equity.

(2) Excludes loans that are carried at fair value for all periods.

Reclassified to conform to the current period's presentation.

Page 9

U.S. PERSONAL BANKING

Metrics

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q

2021 2021 2021 2021 2022

2022 2022 2022 2023 2023 2023

U.S. Personal Banking Key Indicators (in billions of dollars, except as otherwise

noted)

New account acquisitions (in thousands)

Branded Cards 797 907 995 1,069 991 1,069 1,090 1,023 1,164 1,131 1,146

Retail Services 2,204 2,792 2,526 3,126 2,178 2,634 2,339 2,806 1,976 2,393 2,152

Credit card spend volume

Branded Cards $ 85.8 $ 103.5 $ 106.0 $ 115.2 $ 106.8 $ 121.8 $ 120.7 $ 125.3 $ 115.9 $ 126.8 $ 125.2

Retail Services 18.7 23.6 22.7 27.1 21.4 26.1 24.5 27.1 20.8 24.8 23.3

Average loans

(1)

Branded Cards $ 78.7 $ 79.4 $ 81.9 $ 84.5 $ 84.0 $ 87.9 $ 91.8 $ 95.4 $ 96.8 $ 99.8 $ 103.2

Retail Services 43.8 42.3 42.4 43.8 44.2 44.8 46.1 48.0 48.8 49.0 50.2

Retail Banking 36.4 34.7 34.1 33.4 33.2 34.5 36.1 36.6 38.0 40.3 42.2

EOP loans

(1)

Branded Cards $ 78.5 $ 82.1 $ 82.8 $ 87.9 $ 85.9 $ 91.6 $ 93.7 $ 100.2 $ 97.1 $ 103.0 $ 105.2

Retail Services 42.5 42.7 42.7 46.0 44.1 45.8 46.7 50.5 48.4 50.0 50.5

Retail Banking 35.6 34.3 33.4 33.0 33.3 35.4 35.8 37.1 39.2 41.5 43.1

Total revenues, net of interest expenses as a % of average loans

Branded Cards 10.89 % 9.99 % 9.95 % 9.82 % 10.19 % 9.98 % 9.83 % 9.94 % 10.36 % 9.47 % 9.76 %

Retail Services 12.14 % 11.52 % 12.01 % 11.74 % 11.99 % 11.69 % 12.35 % 11.75 % 13.38 % 13.45 % 13.66 %

NII as a % of average loans

(2)

Branded Cards 9.54 % 8.95 % 9.05 % 9.01 % 9.26 % 8.94 % 9.06 % 9.03 % 9.36 % 9.01 % 9.12 %

Retail Services 16.30 % 15.76 % 16.61 % 16.59 % 16.99 % 17.38 % 17.49 % 16.93 % 17.54 % 17.44 % 17.77 %

NCLs as a % of average loans

Branded Cards 2.84 % 2.36 % 1.73 % 1.33 % 1.46 % 1.50 % 1.50 % 1.68 % 2.18 % 2.47 % 2.72 %

Retail Services 3.45 % 3.09 % 2.23 % 2.10 % 2.31 % 2.60 % 2.71 % 3.30 % 4.08 % 4.46 % 4.53 %

Retail Banking 0.30 % 0.29 % 0.26 % 0.44 % 1.54 % 0.70 % 0.47 % 0.53 % 0.66 % 0.59 % 0.59 %

Loans 90+ days past due as a % of EOP loans

Branded Cards 0.75 % 0.56 % 0.44 % 0.44 % 0.47 % 0.46 % 0.51 % 0.63 % 0.78 % 0.81 % 0.92 %

Retail Services 1.39 % 1.08 % 0.99 % 1.05 % 1.15 % 1.16 % 1.35 % 1.56 % 1.76 % 1.77 % 2.12 %

Retail Banking

(3)

0.65 % 0.61 % 0.60 % 0.62 % 0.56 % 0.52 % 0.51 % 0.45 % 0.42 % 0.39 % 0.38 %

Loans 30-89 days past due as a % of EOP loans

Branded Cards 0.62 % 0.43 % 0.45 % 0.46 % 0.49 % 0.47 % 0.59 % 0.69 % 0.76 % 0.81 % 0.97 %

Retail Services 1.21 % 0.97 % 1.10 % 1.17 % 1.27 % 1.27 % 1.53 % 1.62 % 1.66 % 1.81 % 2.13 %

Retail Banking

(3)

0.55 % 0.69 % 0.68 % 0.57 % 0.53 % 0.55 % 0.58 % 0.57 % 0.47 % 0.57 % 0.55 %

Branches (actual) 687 659 658 658 658 658 653 654 653 653 652

Mortgage originations $ 4.4 $ 4.1 $ 3.4 $ 3.4 $ 3.1 $ 4.1 $ 4.2 $ 2.7 $ 3.3 $ 4.5 $ 3.9

(1) Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

(2) Net interest income includes certain fees that are recorded as interest revenue.

(3) Excludes U.S. government-sponsored agency guaranteed loans.

Reclassified to conform to the current period's presentation.

Page 10

WEALTH

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Net interest income $ 1,120 $ 1,124 $ 1,106 $ 1,141 $ 1,182 $ 1,192 $ 1,204 $ 1,166 $ 1,121 $ 1,113 $ 1,182 $ 4,491 $ 4,744

Fee revenue

Commissions

and fees 452 422 387 347 364 335 272 247 305 307 302 1,608 1,218

Other

220 232 236 211 234 228 206 198 174 207 217 899 866

Total fee revenue 672 654 623 558 598 563 478 445 479 514 519 2,507 2,084

All other

147 120 171 106 152 165 191 112 166 172 154 544 620

Total Non-interest

revenue 819 774 794 664 750 728 669 557 645 686 673 3,051 2,704

Total revenues, net

of interest

expense

1,939 1,898 1,900 1,805 1,932 1,920 1,873 1,723 1,766 1,799 1,855 7,542 7,448

Total operating

expenses 1,274 1,320 1,328 1,459 1,472 1,469 1,532 1,585 1,626 1,660 1,711 5,381 6,058

Net credit losses

on loans 39 44 24 15 10 20 17 56 20 23 24 122 103

Credit reserve

build / (release)

for loans (133) (130) (32) (36) 34 197 55 (96) (69) 30 (19) (331) 190

Provision for

credit losses on

unfunded

lending

commitments (10) 4 (8) (1) (1) 13 19 (19) (6) 1 (8) (15) 12

Provisions for

benefits and

claims, and

other assets

4 (2) (2) (2) (4) 1 2 2 (3) — 1 (2) 1

Provisions for credit

losses and for

benefits and claims

(PBC)

(100) (84) (18) (24) 39 231 93 (57) (58) 54 (2) (226) 306

Income from

continuing

operations before

taxes 765 662 590 370 421 220 248 195 198 85 146 2,387 1,084

Income taxes 153 118 101 47 65 18 31 20 39 21 28 419 134

Income from

continuing

operations 612 544 489 323 356 202 217 175 159 64 118 1,968 950

Noncontrolling

interests — — — — — — — — — — — — —

Net income

$ 612 $ 544 $ 489 $ 323 $ 356 $ 202 $ 217 $ 175 $ 159 $ 64 $ 118 $ 1,968 $ 950

EOP assets (in

billions) $ 249 $ 244 $ 261 $ 250 $ 266 $ 261 $ 258 $ 259 $ 258 $ 241 $ 236 $ 250 $ 259

Average assets (in

billions) 246 248 260 258 263 261 255 258 261 251 240 253 259

Efficiency ratio 66 % 70 % 70 % 81 % 76 % 77 % 82 % 92 % 92 % 92 % 92 % 71 % 81 %

Average allocated

TCE (in billions)

(1)

$ 12.9 $ 12.9 $ 12.9 $ 12.9 $ 13.9 $ 13.9 $ 13.9 $ 13.9 $ 13.4 $ 13.4 $ 13.4 12.9 13.9

RoTCE

(1)

19.2 % 16.9 % 15.0 % 9.9 % 10.4 % 5.8 % 6.2 % 5.0 % 4.8 % 1.9 % 3.5 % 15.3 % 6.8 %

Revenue by

component

Private Bank $ 789 $ 752 $ 728 $ 701 $ 794 $ 759 $ 660 $ 599 $ 568 $ 605 $ 617 $ 2,970 $ 2,812

Wealth at Work 171 171 172 177 183 170 182 195 193 224 234 691 730

Citigold

979 975 1,000 927 955 991 1,031 929 1,005 970 1,004 3,881 3,906

Total

$ 1,939 $ 1,898 $ 1,900 $ 1,805 $ 1,932 $ 1,920 $ 1,873 $ 1,723 $ 1,766 $ 1,799 $ 1,855 $ 7,542 $ 7,448

Revenue by

geography

North America $ 946 $ 953 $ 924 $ 944 $ 997 $ 987 $ 977 $ 966 $ 900 $ 904 $ 953 $ 3,767 $ 3,927

International

993 945 976 861 935 933 896 757 866 895 902 3,775 3,521

Total

$ 1,939 $ 1,898 $ 1,900 $ 1,805 $ 1,932 $ 1,920 $ 1,873 $ 1,723 $ 1,766 $ 1,799 $ 1,855 $ 7,542 $ 7,448

Key drivers (in

billions of dollars)

EOP Client balances

Client investment

assets

(2)

$ 480 $ 505 $ 494 $ 507 $ 478 $ 440 $ 417 $ 443 $ 459 $ 470 $ 471

Deposits 293 304 317 329 332 312 312 325 322 315 307

Loans

145 150 150 151 150 149 151 149 150 151 151

Total

$ 918 $ 959 $ 961 $ 987 $ 960 $ 901 $ 880 $ 917 $ 931 $ 936 $ 929

ACLL as a % of

EOP loans 0.59 % 0.49 % 0.47 % 0.44 % 0.47 % 0.60 % 0.65 % 0.59 % 0.52 % 0.54 % 0.53 %

(2) Includes Assets under management, and trust and custody assets.

Reclassified to conform to the current period's presentation.

Page 11

ALL OTHER—MANAGED BASIS

(1)(2)(3)

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

Net interest income $ 1,531 $ 1,649 $ 1,717 $ 1,649 $ 1,611 $ 1,773 $ 2,062 $ 2,222 $ 2,205 $ 2,141 $ 1,801 $ 6,546 $ 7,668

Non-interest revenue

(4)(5)(6)(7)

747 868 576 725 582 368 154 216 406 366 412 2,916 1,320

Total revenues, net of interest expense 2,278 2,517 2,293 2,374 2,193 2,141 2,216 2,438 2,611 2,507 2,213 9,462 8,988

Total operating expenses

(8)

2,302 2,289 2,396 2,316 2,267 2,268 2,284 2,325 2,258 2,229 2,164 9,303 9,144

Net credit losses on loans 583 390 294 217 204 183 199 186 198 198 238 1,484 772

Credit reserve build / (release) for loans (582) (594) (355) (120) (405) (28) (16) (39) — 77 (19) (1,651) (488)

Provision for credit losses on unfunded lending commitments (9) (8) 7 (9) 259 (111) (32) 4 (19) (9) (5) (19) 120

Provisions for benefits and claims, HTM debt securities and other assets 49 10 16 23 31 19 31 13 285 (67) (10) 98 94

Provisions for credit losses and for benefits and claims (PBC) 41 (202) (38) 111 89 63 182 164 464 199 204 (88) 498

Income (loss) from continuing operations before taxes (65) 430 (65) (53) (163) (190) (250) (51) (111) 79 (155) 247 (654)

Income taxes (benefits)

(9)

(3) (396) (177) (236) (375) (236) (320) (121) (292) (7) (53) (812) (1,052)

Income (loss) from continuing operations (62) 826 112 183 212 46 70 70 181 86 (102) 1,059 398

Income (loss) from discontinued operations, net of taxes

(10)

(2) 10 (1) — (2) (221) (6) (2) (1) (1) 2 7 (231)

Noncontrolling interests 5 5 14 (3) — (3) 10 (3) 9 — 9 21 4

Net income (loss)

$ (69) $ 831 $ 97 $ 186 $ 210 $ (172) $ 54 $ 71 $ 171 $ 85 $ (109) $ 1,045 $ 163

EOP assets (in billions) $ 241 $ 251 $ 243 $ 243 $ 242 $ 234 $ 230 $ 226 $ 229 $ 218 $ 209 $ 243 $ 226

Average assets (in billions) 226 245 240 243 242 238 228 234 223 217 211 239 236

Average allocated TCE (in billions)

(11)

31.7 33.9 34.4 34.0 24.9 24.0 25.1 26.5 28.3 31.3 32.5 33.3 25.5

Revenue by reporting unit and component

Asia Consumer $ 1,028 $ 1,007 $ 951 $ 928 $ 804 $ 786 $ 760 $ 576 $ 503 $ 475 $ 289 $ 3,914 $ 2,926

Mexico Consumer/SBMM 1,110 1,150 1,137 1,140 1,110 1,154 1,137 1,221 1,288 1,407 1,522 4,537 4,622

Legacy Holdings Assets 27 39 43 77 4 (128) 11 32 8 5 (9) 186 (81)

Corporate/Other

113 321 162 229 275 329 308 609 812 620 411 825 1,521

Total

$ 2,278 $ 2,517 $ 2,293 $ 2,374 $ 2,193 $ 2,141 $ 2,216 $ 2,438 $ 2,611 $ 2,507 $ 2,213 $ 9,462 $ 8,988

Asia Consumer – Key Indicators (in billions of dollars)

EOP loans $ 54.0 $ 53.5 $ 42.9 $ 41.1 $ 19.5 $ 17.3 $ 13.4 $ 13.3 $ 10.0 $ 9.1 $ 8.0

EOP deposits 54.6 54.0 46.6 43.3 17.5 17.2 14.6 14.5 14.4 12.2 10.8

Average loans 54.9 54.2 46.4 42.3 23.1 18.2 15.2 13.2 12.1 9.5 8.6

NCLs as a % of average loans 1.67 % 1.13 % 1.10 % 0.96 % 0.79 % 0.77 % 1.02 % 1.23 % 1.47 % 1.73 % 1.43 %

Loans 90+ days past due as a % of EOP loans 0.68 % 0.65 % 0.60 % 0.51 % 0.28 % 0.29 % 0.35 % 0.37 % 0.55 % 0.55 % 0.61 %

Loans 30-89 days past due as a % of EOP loans 0.85 % 0.87 % 0.80 % 0.69 % 0.32 % 0.40 % 0.47 % 0.53 % 0.65 % 0.66 % 0.73 %

Mexico Consumer/SBMM - Key Indicators (in billions of dollars)

EOP loans $ 20.1 $ 20.0 $19.4 $ 20.0 $ 20.7 $ 20.6 $ 20.7 $ 21.9 $ 24.0 $ 26.0 $ 26.0

EOP deposits 32.6 33.0 31.4 32.7 33.9 35.5 35.8 36.5 38.3 40.8 40.0

Average loans 20.6 20.2 19.6 19.4 19.6 20.5 20.4 21.3 22.8 24.7 26.0

NCLs as a % of average loans 7.38 % 5.14 % 3.70 % 2.72 % 2.55 % 2.15 % 2.64 % 2.48 % 2.63 % 2.52 % 2.95 %

Loans 90+ days past due as a % of EOP loans (Mexico Consumer only) 2.35 % 1.84 % 1.52 % 1.38 % 1.32 % 1.29 % 1.26 % 1.28 % 1.24 % 1.37 % 1.32 %

Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only) 2.08 % 1.60 % 1.46 % 1.30 % 1.30 % 1.18 % 1.23 % 1.26 % 1.26 % 1.28 % 1.33 %

Legacy Holdings Assets - Key Indicators (in billions of dollars)

EOP loans

$ 6.1 $ 5.0 $ 4.2

$ 3.9 $ 3.7 $ 3.2 $ 3.2 $ 3.0

$ 2.8 $ 2.7 $ 2.5

(1) Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses and income taxes, as

well as Corporate Treasury investment activities and discontinued operations.

additional information.

(3) Certain of the results of operations of All Other—Managed basis are non-GAAP financial measures. See page 14 for additional information.

(4) See footnote 9 on page 14.

(5) See footnote 7 on page 14.

(6) See footnote 5 on page 14.

(7) See footnote 2 on page 14.

(8) See footnote 3 on page 14.

(9) See footnote 6 on page 1.

(10) See footnote 7 on page 1.

(11) TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE

Reclassified to conform to the current period's presentation.

2021

2022

2023

2021

2022

Efficiency ratio

101

104

103

106

103

102

Page 12

ALL OTHER—MANAGED BASIS

(1)(2)

Legacy Franchises

(3)

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Net interest income $ 1,487 $ 1,540 $ 1,472 $ 1,475 $ 1,449 $ 1,431 $ 1,354 $ 1,302 $ 1,256 $ 1,305 $ 1,262 $ 5,974 $ 5,536

Non-interest revenue

(4)(5)(6)(7)

678 656 659 670 469 381 554 527 543 582 540 2,663 1,931

Total revenues, net of interest expense 2,165 2,196 2,131 2,145 1,918 1,812 1,908 1,829 1,799 1,887 1,802 8,637 7,467

Total operating expenses

(8)

1,730 1,766 1,727 1,782 1,712 1,818 1,716 1,748 1,664 1,685 1,663 7,005 6,994

Net credit losses on loans 583 390 294 217 204 183 199 186 198 198 238 1,484 772

Credit reserve build / (release) for loans (582) (594) (355) (120) (405) (28) (16) (39) — 77 (19) (1,651) (488)

Provision for credit losses on unfunded lending commitments (9) (8) 7 (9) 259 (111) (32) 4 (19) (9) (5) (19) 120

Provisions for benefits and claims, HTM debt securities and other assets 52 8 17 23 31 19 28 13 174 46 (9) 100 91

Provisions for credit losses and for benefits and claims (PBC) 44 (204) (37) 111 89 63 179 164 353 312 205 (86) 495

Income (loss) from continuing operations before taxes 391 634 441 252 117 (69) 13 (83) (218) (110) (66) 1,718 (22)

Income taxes (benefits) 116 191 96 (156) (54) (1) (38) (52) (159) (58) 24 247 (145)

Income (loss) from continuing operations 275 443 345 408 171 (68) 51 (31) (59) (52) (90) 1,471 123

Noncontrolling interests (3) (2) (1) (4) (2) 2 — 3 2 3 2 (10) 3

Net income (loss) $ 278 $ 445 $ 346 $ 412 $ 173 $ (70) $ 51 $ (34) $ (61) $ (55) $ (92) $ 1,481 $ 120

EOP assets (in billions)

$ 128 $ 130 $ 123 $ 123 $ 120 $ 106 $ 99 $ 95 $ 92 $ 91 $ 78 $ 123 $ 95

Average assets (in billions) 128 128 125 122 122 114 102 97 95 90 85 126 109

Efficiency ratio 80 % 80 % 81 % 83 % 89 % 100 % 90 % 96 % 92 % 89 % 92 % 81 % 94 %

Allocated TCE (in billions)

(9)

12.0 12.0 12.0 12.0 11.1 11.1 11.1 11.1 10.0 10.0 10.0 12.0 11.1

Revenue by reporting unit and component

Asia Consumer $ 1,028 $ 1,007 $ 951 $ 928 $ 804 $ 786 $ 760 $ 576 $ 503 $ 475 $ 289 $ 3,914 $ 2,926

Mexico Consumer/SBMM 1,110 1,150 1,137 1,140 1,110 1,154 1,137 1,221 1,288 1,407 1,522 4,537 4,622

Legacy Holdings Assets 27 39 43 77 4 (128) 11 32 8 5 (9) 186 (81)

Total $ 2,165 $ 2,196 $ 2,131 $ 2,145 $ 1,918 $ 1,812 $ 1,908 $ 1,829 $ 1,799 $ 1,887 $ 1,802 $ 8,637 $ 7,467

Asia Consumer - Key Indicators (in billions of dollars)

EOP loans $ 54.0 $ 53.5 $ 42.9 $ 41.1 $ 19.5 $ 17.3 $ 13.4 $ 13.3 $ 10.0 $ 9.1 $ 8.0

EOP deposits 54.6 54.0 46.6 43.3 17.5 17.2 14.6 14.5 14.4 12.2 10.8

Average loans 54.9 54.2 46.4 42.3 23.1 18.2 15.2 13.2 12.1 9.5 8.6

NCLs as a % of average loans 1.67 % 1.13 % 1.10 % 0.96 % 0.79 % 0.77 % 1.02 % 1.23 % 1.47 % 1.73 % 1.43 %

Loans 90+ days past due as a % of EOP loans 0.68 % 0.65 % 0.60 % 0.51 % 0.28 % 0.29 % 0.35 % 0.37 % 0.55 % 0.55 % 0.61 %

Loans 30-89 days past due as a % of EOP loans 0.85 % 0.87 % 0.80 % 0.69 % 0.32 % 0.40 % 0.47 % 0.53 % 0.65 % 0.66 % 0.73 %

Mexico Consumer/SBMM - Key Indicators (in billions of dollars)

EOP loans $ 20.1 $ 20.0 $ 19.4 $ 20.0 $ 20.7 $ 20.6 $ 20.7 $ 21.9 $ 24.0 $ 26.0 $ 26.0

EOP deposits 32.6 33.0 31.4 32.7 33.9 35.5 35.8 36.5 38.3 40.8 40.0

Average loans 20.6 20.2 19.6 19.4 19.6 20.5 20.4 21.3 22.8 24.7 26.0

NCLs as a % of average loans 7.38 % 5.14 % 3.70 % 2.72 % 2.55 % 2.15 % 2.64 % 2.48 % 2.63 % 2.52 % 2.95 %

Loans 90+ days past due as a % of EOP loans (Mexico Consumer only) 2.35 % 1.84 % 1.52 % 1.38 % 1.32 % 1.29 % 1.26 % 1.28 % 1.24 % 1.37 % 1.32 %

Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only) 2.08 % 1.60 % 1.46 % 1.30 % 1.30 % 1.18 % 1.23 % 1.26 % 1.26 % 1.28 % 1.33 %

Legacy Holdings Assets - Key Indicators (in billions of dollars)

EOP loans $ 6.1 $ 5.0 $ 4.2 $ 3.9 $ 3.7 $ 3.2 $ 3.2 $ 3.0 $ 2.8 $ 2.7 $ 2.5

(1) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's sales of its Asia consumer banking businesses and the divestiture of Mexico consumer banking, small

business and middle markets within Legacy Franchises. See page 14 for additional information.

(2) Certain of the results of operations of All Other—Managed basis are non-GAAP financial measures. See page 14 for additional information.

(3) Legacy Franchises consists of the consumer franchises in 13 markets across Asia and EMEA that Citi intends to exit or has exited (Asia Consumer); the consumer, small business and middle-market

banking (Mexico SBMM) operations in Mexico (collectively Mexico Consumer/SBMM); and Legacy Holdings Assets (primarily North America consumer mortgage loans and other legacy assets).

(4) See footnote 9 on page 14.

(5) See footnote 7 on page 14.

(6) See footnote 5 on page 14.

(7) See footnote 2 on page 14.

(8) See footnote 3 on page 14.

(9) TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE

Reclassified to conform to the current period's presentation.

Page 13

ALL OTHER

Corporate/Other

(1)

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Net interest income $ 44 $ 109 $ 245 $ 174 $ 162 $ 342 $ 708 $ 920 $ 949 $ 836 $ 539 $ 572 $ 2,132

Non-interest revenue 69 212 (83) 55 113 (13) (400) (311) (137) (216) (128) 253 (611)

Total revenues, net of interest expense 113 321 162 229 275 329 308 609 812 620 411 825 1,521

Total operating expenses 572 523 669 534 555 450 568 577 594 544 501 2,298 2,150

Provisions for HTM debt securities and other assets (3) 2 (1) — — — 3 — 111 (113) (1) (2) 3

Income (loss) from continuing operations before taxes (456) (204) (506) (305) (280) (121) (263) 32 107 189 (89) (1,471) (632)

Income taxes (benefits)

(2)

(119) (587) (273) (80) (321) (235) (282) (69) (133) 51 (77) (1,059) (907)

Income (loss) from continuing operations (337) 383 (233) (225) 41 114 19 101 240 138 (12) (412) 275

Income (loss) from discontinued operations, net of taxes

(3)

(2) 10 (1) — (2) (221) (6) (2) (1) (1) 2 7 (231)

Noncontrolling interests 8 7 15 1 2 (5) 10 (6) 7 (3) 7 31 1

Net income (loss)

$ (347) $ 386 $ (249) $ (226) $ 37 $ (102) $ 3 $ 105 $ 232 $ 140 $ (17) $ (436) $ 43

EOP assets (in billions) $ 113 $ 121 $ 120 $ 120 $ 122 $ 128 $ 131 $ 131 $ 137 $ 127 $ 131 $ 120 $ 131

Average allocated TCE (in billions)

(4)

19.7 21.9 22.4 22.0 13.8 12.9 14.0 15.4 18.3 21.3 22.5 21.3 14.4

(1) Includes certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses and unallocated global operations and

technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

(2) See footnote 6 on page 1.

(3) See footnote 7 on page 1.

(4) TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE

Reclassified to conform to the current period's presentation.

Page 14

RECONCILING ITEMS

(1)

(Divestiture-related Impacts)

(In millions of dollars, except as otherwise noted)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021

(2)

2021

(3)

2022

(4)

2022 2022

(5)

2022

(6)

2023

(7)

2023

(8)

2023

(9)

2021 2022

Net interest income $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ —

Non-interest revenue — — (657) (13) (47) 78 614 209 1,018 (6) 396 (670) 854

Total revenues, net of interest expense — — (657) (13) (47) 78 614 209 1,018 (6) 396 (670) 854

Total operating expenses — — — 1,171 559 (28) 107 58 73 79 114 1,171 696

Net credit losses on loans — — (5) (1) (53) (50) (35) (18) (12) (8) (19) (6) (156)

Credit reserve build / (release) for loans — — 28 2 259 — 22 (22) 3 (3) 2 30 259

Provision for credit losses on unfunded lending commitments — — — — (135) 108 1 (1) 1 (1) — — (27)

Provisions for benefits and claims, HTM debt securities and other assets — — — — — — — — — — — — —

Provisions for credit losses and for benefits and claims (PBC) — — 23 1 71 58 (12) (41) (8) (12) (17) 24 76

Income (loss) from continuing operations before taxes — — (680) (1,185) (677) 48 519 192 953 (73) 299 (1,865) 82

Income taxes (benefits) — — (100) (123) (89) 13 263 79 305 19 85 (223) 266

Income (loss) from continuing operations — — (580) (1,062) (588) 35 256 113 648 (92) 214 (1,642) (184)

Income (loss) from discontinued operations, net of taxes — — — — — — — — — — — — —

Noncontrolling interests — — — — — — — — — — — — —

Net income (loss)

$ — $ — $ (580) $ (1,062) $ (588) $ 35 $ 256 $ 113 $ 648 $ (92) $ 214 $ (1,642) $ (184)

(1) Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other—Legacy Franchises on a managed basis. The Reconciling Items are fully reflected on Citi's Consolidated

Statement of Income on page 2 for each respective line item.

(2) 3Q21 includes an approximate $680 million loss on sale (approximately $580 million after-tax), related to Citi's agreement to sell its Australian consumer banking business. For additional information, see Citi's Quarterly Report on

Form 10-Q for the quarterly period ended September 30, 2021.

(3) 4Q21 includes an approximate $1.052 billion in expenses (approximately $792 million after-tax), primarily related to charges incurred from the voluntary early retirement program (VERP) in connection with the wind-down of Citi's

consumer banking business in Korea. For additional information, see Citi's Annual Report on Form 10-K for the annual period ended December 31, 2021.

(4) 1Q22 includes an approximate $535 million ($489 million after-tax) goodwill write-down due to re-segmentation and timing of Asia consumer banking business divestitures. For additional information, see Citi's Quarterly Report on

Form 10-Q for the quarterly period ended March 31, 2022.

(5) 3Q22 includes an approximate $616 million gain on sale recorded in revenue (approximately $290 million after various taxes) related to Citi's sale of the Philippines consumer banking business. For additional information, see Citi's

Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022

(6) 4Q22 includes an approximate $209 million (approximately $115 million after various taxes) gain on sale recorded in revenue related to Citi's sale of the Thailand consumer banking business. For additional information, see Citi's

Annual Report on Form 10-K for the annual period ended December 31, 2022.

(7) 1Q23 includes an approximate $1.059 billion gain on sale recorded in revenue (approximately $727 million after various taxes) related to Citi's sale of the India consumer banking business. For additional information, see Citi's

Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023.

(8) 2Q23 includes approximately $79 million in expenses (approximately $57 million after-tax), primarily related to separation costs in Mexico and severance costs in Asia exit markets. For additional information, see Citi's Quarterly

Report on Form 10-Q for the quarterly period ended June 30, 2023.

(9) 3Q23 includes an approximate $403 million gain on sale recorded in revenue (approximately $284 million after various taxes) related to Citi's sale of the Taiwan consumer banking business. For additional information, see Citi's

Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023.

Reclassified to conform to the current period's presentation.

Page 15

AVERAGE BALANCES AND INTEREST RATES

(1)(2)(3)(4)

Taxable Equivalent Basis

Average Volumes Interest % Average Rate

(4)

In millions of dollars, except as otherwise noted

3Q22 2Q23 3Q23 3Q22 2Q23 3Q23 3Q22 2Q23 3Q23

Assets

Deposits with banks $ 256,444 $ 310,047 $ 260,159 $ 1,218 $ 3,049 $ 2,645 1.88% 3.94% 4.03%

Securities borrowed and purchased under resale agreements

(5)

361,719 365,704 352,608 2,176 6,254 7,363 2.39% 6.86% 8.28%

Trading account assets

(6)

272,996 329,229 345,864 1,991 3,752 3,893 2.89% 4.57% 4.47%

Investments 513,414 507,949 508,854 3,010 4,456 4,727 2.33% 3.52% 3.69%

Consumer loans 356,347 367,852 375,632 7,380 8,962 9,609 8.22% 9.77% 10.15%

Corporate loans

298,371 285,739 286,654 3,430 5,102 5,447 4.56% 7.16% 7.54%

Total loans (net of unearned income)

(7)

654,718 653,591 662,286 10,810 14,064 15,056 6.55% 8.63% 9.02%

Other interest-earning assets

110,619 85,083 76,400 760 1,085 1,176 2.73% 5.11% 6.11%

Total average interest-earning assets

$ 2,169,910 $ 2,251,603 $ 2,206,171 $ 19,965 $ 32,660 $ 34,860 3.65% 5.82% 6.27%

Liabilities

Deposits $ 1,075,359 $ 1,132,211 $ 1,121,163 $ 3,270 $ 8,727 $ 9,630 1.21% 3.09% 3.41%

Securities loaned and sold under repurchase agreements

(5)

207,190 262,147 275,123 1,251 4,953 6,090 2.40% 7.58% 8.78%

Trading account liabilities

(6)

128,525 128,354 111,367 472 870 892 1.46% 2.72% 3.18%

Short-term borrowings and other interest-bearing liabilities 154,322 126,734 117,435 745 1,777 1,956 1.92% 5.62% 6.61%

Long-term debt

(8)

169,329 162,327 158,485 1,618 2,420 2,441 3.79% 5.98% 6.11%

Total average interest-bearing liabilities

$ 1,734,725 $ 1,811,773 $ 1,783,573 $ 7,356 $ 18,747 $ 21,009 1.68% 4.15% 4.67%

Net interest income as a % of average interest-earning assets (NIM)

(8) $ 12,609 $ 13,913 $ 13,851 2.31% 2.48% 2.49%

3Q23 increase (decrease) from:

18 bps 1 bps

(1) Interest revenue and Net interest income include the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $46 million for 3Q22, $13 million for 2Q23 and $23 million for 3Q23.

(2) Citigroup average balances and interest rates include both domestic and international operations.

(3) Monthly averages have been used by certain subsidiaries where daily averages are unavailable.

(4) Average rate percentage is calculated as annualized interest over average volumes.

(5) Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of ASU 2013-01 (Topic 210).

(6) Interest expense on Trading account liabilities of Services, Markets, and Banking is reported as a reduction of Interest revenue. Interest revenue and Interest expense on cash collateral positions are reported in Trading account assets and Trading account liabilities,

respectively.

(7) Nonperforming loans are included in the average loan balances.

(8) Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions revenue.

Reclassified to conform to the current period's presentation.

Page 16

EOP LOANS

(1)(2)

(In billions of dollars)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023

Corporate loans by region

North America $ 126.7 $ 127.5 $ 127.7 $ 126.7 $ 129.2 $ 129.9 $ 125.9 $ 127.8 $ 125.1 $ 121.7 $ 123.0

International

163.8 168.5 167.8 164.5 180.1 171.8 162.5 161.4 163.2 164.3 165.6

Total corporate loans

$ 290.5 $ 296.0 $ 295.5 $ 291.2 $ 309.3 $ 301.7 $ 288.4 $ 289.2 $ 288.3 $ 286.0 $ 288.6

Corporate loans by segment and reporting unit

Services $ 72.7 $ 77.5 $ 79.8 $ 75.2 $ 86.6 $ 85.9 $ 80.4 $ 76.6 $ 80.1 $ 83.6 $ 83.4

Markets 111.0 115.9 111.4 115.1 115.7 109.2 108.6 114.2 111.5 107.2 112.8

Banking 100.1 96.1 97.9 94.2 99.9 99.5 92.4 91.3 89.0 87.0 84.2

All Other - Legacy Franchises - Mexico SBMM

6.7 6.5 6.4 6.7 7.1 7.1 7.0 7.1 7.7 8.2 8.2

Total corporate loans

$ 290.5 $ 296.0 $ 295.5 $ 291.2 $ 309.3 $ 301.7 $ 288.4 $ 289.2 $ 288.3 $ 286.0 $ 288.6

U.S. Personal Banking

Branded Cards $ 78.5 $ 82.1 $ 82.8 $ 87.9 $ 85.9 $ 91.6 $ 93.7 $ 100.2 $ 97.1 $ 103.0 $ 105.2

Retail Services 42.5 42.7 42.7 46.0 44.1 45.8 46.7 50.5 48.4 50.0 50.5

Retail Banking

35.6 34.3 33.4 33.0 33.3 35.4 35.8 37.1 39.2 41.5 43.1

Total USPB

$ 156.6 $ 159.1 $ 158.9 $ 166.9 $ 163.3 $ 172.8 $ 176.2 $ 187.8 $ 184.7 $ 194.5 $ 198.8

Wealth by region

North America $ 88.1 $ 91.7 $ 92.1 $ 92.8 $ 94.1 $ 94.6 $ 99.3 $ 98.2 $ 98.9 $ 99.5 $ 101.1

International

57.3 58.0 58.2 58.5 56.1 54.2 51.8 51.0 51.0 51.0 49.5

Total Wealth

$ 145.4 $ 149.7 $ 150.3 $ 151.3 $ 150.2 $ 148.8 $ 151.1 $ 149.2 $ 149.9 $ 150.5 $ 150.6

All Other - Consumer

Asia Consumer

(3)

$ 54.0 $ 53.5 $ 42.9 $ 41.1 $ 19.5 $ 17.3 $ 13.4 $ 13.3 $ 10.0 $ 9.1 $ 8.0

Mexico Consumer 13.4 13.5 13.0 13.3 13.6 13.5 13.7 14.8 16.3 17.8 17.8

Legacy Holdings Assets

6.1 5.0 4.2 3.9 3.7 3.2 3.2 3.0 2.8 2.7 2.5

Total

$ 73.5 $ 72.0 $ 60.1 $ 58.3 $ 36.8 $ 34.0 $ 30.3 $ 31.1 $ 29.1 $ 29.6 $ 28.3

Total consumer loans

$ 375.5 $ 380.8 $ 369.3 $ 376.5 $ 350.3 $ 355.6 $ 357.6 $ 368.1 $ 363.7 $ 374.6 $ 377.7

Total loans - EOP

$ 666.0 $ 676.8 $ 664.8 $ 667.8 $ 659.7 $ 657.3 $ 646.0 $ 657.2 $ 652.0 $ 660.6 $ 666.3

Total loans - average

$ 666.0 $ 670.3 $ 668.5 $ 667.4 $ 648.6 $ 657.5 $ 654.7 $ 652.5 $ 653.7 $ 653.6 $ 662.3

NCLs as a % of total average loans 1.06 % 0.79 % 0.57 % 0.51 % 0.55 % 0.52 % 0.54 % 0.72 % 0.81 % 0.92 % 0.98 %

(1) Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises-Mexico SBMM that are included in Corporate loans.

(3) Asia Consumer also includes loans in Poland and Russia.

Reclassified to conform to the current period's presentation.

Page 17

EOP DEPOSITS

(In billions of dollars)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023

Services, Markets, and Banking by region

North America $ 385.1 $ 379.1 $ 408.0 $ 382.8 $ 390.5 $ 404.3 $ 391.0 $ 405.5 $ 394.7 $ 393.2 $ 371.5

International

413.1 419.4 424.6 406.6 435.0 424.4 405.9 439.9 424.7 425.0 410.8

Total

$ 798.2 $ 798.5 $ 832.6 $ 789.4 $ 825.5 $ 828.7 $ 796.9 $ 845.4 $ 819.4 $ 818.2 $ 782.3

Treasury and Trade Solutions $ 644.5 $ 640.3 $ 674.2 $ 633.2 $ 664.2 $ 670.3 $ 647.1 $ 701.3 $ 670.9 $ 671.4 $ 643.0

Securities Services

129.9 135.2 136.7 133.8 138.7 136.3 127.8 119.8 124.2 124.4 113.7

Services $ 774.4 $ 775.5 $ 810.9 $ 767.0 $ 802.9 $ 806.6 $ 774.9 $ 821.1 $ 795.1 $ 795.8 $ 756.7

Markets 22.2 21.5 20.6 21.4 21.5 20.9 20.5 22.6 23.0 21.5 24.7

Banking

1.6 1.5 1.1 1.0 1.1 1.2 1.5 1.7 1.3 0.9 0.9

Total

$ 798.2 $ 798.5 $ 832.6 $ 789.4 $ 825.5 $ 828.7 $ 796.9 $ 845.4 $ 819.4 $ 818.2 $ 782.3

U.S Personal Banking

$ 112.9 $ 113.1 $ 113.5 $ 116.8 $ 119.5 $ 115.7 $ 115.2 $ 112.5 $ 114.7 $ 112.3 $ 108.9

Wealth

North America $ 176.4 $ 184.7 $ 194.8 $ 206.9 $ 206.1 $ 190.3 $ 187.7 $ 193.9 $ 192.6 $ 184.7 $ 183.8

International

117.0 119.2 121.7 122.3 126.0 121.6 124.4 131.4 129.6 129.8 123.6

Total

$ 293.4 $ 303.9 $ 316.5 $ 329.2 $ 332.1 $ 311.9 $ 312.1 $ 325.3 $ 322.2 $ 314.5 $ 307.4

All Other

Legacy Franchises

Asia Consumer

(1)

$ 54.6 $ 54.0 $ 46.6 $ 43.3 $ 17.5 $ 17.2 $ 14.6 $ 14.5 $ 14.4 $ 12.2 $ 10.8

Mexico Consumer/SBMM 32.6 33.0 31.4 32.7 33.9 35.5 35.8 36.5 38.3 40.8 40.0

Legacy Holdings Assets — — — — — — — — — — —

Corporate/Other

9.3 7.8 6.9 5.8 5.2 12.8 31.9 31.8 21.5 21.9 24.1

Total

$ 96.5 $ 94.8 $ 84.9 $ 81.8 $ 56.6 $ 65.5 $ 82.3 $ 82.8 $ 74.2 $ 74.9 $ 74.9

Total deposits - EOP

$1,301.0 $1,310.3 $1,347.5 $1,317.2 $1,333.7 $1,321.8 $1,306.5 $1,366.0 $1,330.5 $1,319.9 $1,273.5

Total deposits - average

$1,304.0 $1,321.3 $1,343.0 $1,370.3 $1,334.3 $1,322.5 $1,315.9 $1,361.1 $1,363.2 $1,338.2 $1,315.1

(1) Asia Consumer also includes deposits of Poland and Russia.

Reclassified to conform to the current period's presentation.

Page 18

ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD

(In millions of dollars, except ratios)

Balance

Builds (releases) FY 2022

Balance

Builds

(Releases) YTD 2023

Balance

ACLL/EOP

Loans

12/31/21

1Q22 2Q22 3Q22 4Q22

FY 2022 FX/Other 12/31/22

1Q23 2Q23 3Q23 YTD 2023 FX/Other

(1)

9/30/23 9/30/23

Allowance for credit losses on loans (ACLL)

Services $ 183 $ 241 $ (7) $ (107) $ 1 $ 128 $ 45 $ 356 $ (72) $ (14) $ 6 $ (80) $ (2) $ 274

Markets 588 (80) 8 117 35 80 (35) 633 63 (24) 124 163 9 805

Banking 1,470 435 (77) 65 (153) 270 (14) 1,726 (66) (112) (29) (207) (20) 1,499

Legacy Franchises corporate (Mexico SBMM)

174 5 (3) (34) (7) (39) 5 140 (10) (2) 1 (11) 10 139

Total corporate ACLL

$ 2,415 $ 601 $ (79) $ 41 $ (124) $ 439 $ 1 $ 2,855 $ (85) $ (152) $ 102 $ (135) $ (3) $ 2,717 0.97%

U.S. Cards $ 10,840 $ (1,009) $ 447 $ 303 $ 814 $ 555 $ (2) $ 11,393 $ 536 $ 276 $ 128 $ 940 $ (173) $ 12,160 7.81%

Retail Banking

514 (87) (6) 2 53 (38) (29) 447 40 27 (14) 53 (29) 471

Total USPB

$ 11,354 $ (1,096) $ 441 $ 305 $ 867 $ 517 $ (31) $ 11,840 $ 576 $ 303 $ 114 $ 993 $ (202) $ 12,631

Wealth 667 34 197 55 (96) 190 26 883 (69) 30 (19) (58) (31) 794

All Other - consumer

2,019 (151) (25) 40 (54) (190) (433) 1,396 13 76 (18) 71 20 1,487

Total consumer ACLL

$ 14,040 $ (1,213) $ 613 $ 400 $ 717 $ 517 $ (438) $ 14,119 $ 520 $ 409 $ 77 $ 1,006 $ (213) $ 14,912 3.95%

Total ACLL

$ 16,455 $ (612) $ 534 $ 441 $ 593 $ 956 $ (437) $ 16,974 $ 435 $ 257 $ 179 $ 871 $ (216) $ 17,629 2.68%

Allowance for credit losses on unfunded lending

commitments (ACLUC)

$ 1,871

$ 474 $ (159) $ (71) $ 47 $ 291 $ (11)

$ 2,151

$ (194) $ (96) $ (54) $ (344) $ (1)

$ 1,806

Total ACLL and ACLUC (EOP) 18,326 19,125 19,435

Other

(2)

148 (6) 27 83 5 109 (14) 243 408 145 53 606 (56) 793

Total allowance for credit losses (ACL)

$ 18,474 $ (144) $ 402 $ 453 $ 645 $ 1,356 $ (462) $ 19,368 $ 649 $ 306 $ 178 $ 1,133 $ (273) $ 20,228

(1) Includes the January 1, 2023 opening adjustment related to the adoption of ASU No. 2022-02 Financial Instruments - Credit Losses (Topic 326) TDRs and Vintage Disclosures. See page 19.

(2) Includes ACL activity on HTM securities and Other assets.

Reclassified to conform to the current period's presentation.

Page 19

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS

Page 1

(In millions of dollars)

Full Full

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Year Year

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2021 2022

Total Citigroup

Allowance for credit losses on loans (ACLL) at beginning of period $ 24,956 $ 21,638 $ 19,238 $ 17,715 $ 16,455 $ 15,393 $ 15,952 $ 16,309 $ 16,974 $ 17,169 $ 17,496 $ 24,956 $ 16,455

Adjustment to opening balance

Financial instruments—TDRs and Vintage Disclosures

(1)

— — — — — — — — (352) — — — —

Adjusted ACLL at beginning of period

24,956 21,638 19,238 17,715 16,455 15,393 15,952 16,309 16,622 17,169 17,496 24,956 16,455

Gross credit (losses) on loans (2,208) (1,844) (1,389) (1,279) (1,240) (1,212) (1,237) (1,467) (1,634) (1,879) (2,000) (6,720) (5,156)

Gross recoveries on loans

460 524 428 413 368 362 350 287 332 375 363 1,825 1,367

Net credit (losses) / recoveries on loans (NCLs)

(1,748) (1,320) (961) (866) (872) (850) (887) (1,180) (1,302) (1,504) (1,637) (4,895) (3,789)

Replenishment of NCLs 1,748 1,320 961 866 872 850 887 1,180 1,302 1,504 1,637 4,895 3,789

Net reserve builds / (releases) for loans

(3,227) (2,446) (1,149) (1,176) (612) 534 441 593 435 257 179 (7,998) 956

Provision for credit losses on loans (PCLL) (1,479) (1,126) (188) (310) 260 1,384 1,328 1,773 1,737 1,761 1,816 (3,103) 4,745

Other, net

(2)(3)(4)(5)(6)(7)

(91) 46 (374) (84) (450) 25 (84) 72 112 70 (46) (503) (437)

ACLL at end of period (a)

$ 21,638 $ 19,238 $ 17,715 $ 16,455 $ 15,393 $ 15,952 $ 16,309 $ 16,974 $ 17,169 $ 17,496 $ 17,629 $ 16,455 $ 16,974

Allowance for credit losses on unfunded lending commitments (ACLUC)

(8)

(a)

$ 2,012 $ 2,073 $ 2,063 $ 1,871 $ 2,343 $ 2,193 $ 2,089 $ 2,151 $ 1,959 $ 1,862 $ 1,806 $ 1,871 $ 2,151

Provision (release) for credit losses on unfunded lending commitments

$ (626) $ 44 $ (13) $ (193) $ 474 $ (159) $ (71) $ 47 $ (194) $ (96) $ (54) $ (788) $ 291

Total allowance for credit losses on loans, leases and unfunded lending

commitments [sum of (a)]

$ 23,650 $ 21,311 $ 19,778 $ 18,326 $ 17,736 $ 18,145 $ 18,398 $ 19,125 $ 19,128 $ 19,358 $ 19,435 $ 18,326 $ 19,125

Total ACLL as a percentage of total loans

(9)

3.29% 2.88% 2.69% 2.49% 2.35% 2.44% 2.54% 2.60% 2.65% 2.67% 2.68%

Consumer

ACLL at beginning of period $ 20,180 $ 18,096 $ 16,566 $ 15,105 $ 14,040 $ 12,368 $ 12,983 $ 13,361 $ 14,119 $ 14,389 $ 14,866 $ 20,180 $ 14,040

Adjustments to opening balance

Financial instruments—TDRs and Vintage Disclosures

(1)

— — — — — — — — (352) — — — —

Adjusted ACLL at beginning of period 20,180 18,096 16,566 15,105 14,040 12,368 12,983 13,361 13,767 14,389 14,866 20,180 14,040

NCLs (1,563) (1,243) (922) (781) (841) (827) (881) (1,062) (1,280) (1,429) (1,579) (4,509) (3,611)

Replenishment of NCLs 1,563 1,243 922 781 841 827 881 1,062 1,280 1,429 1,579 4,509 3,611

Net reserve builds / (releases) for loans (2,000) (1,583) (1,102) (983) (1,213) 613 400 717 520 409 77 (5,668) 517

Provision for credit losses on loans (PCLL) (437) (340) (180) (202) (372) 1,440 1,281 1,779 1,800 1,838 1,656 (1,159) 4,128

Other, net

(2)(3)(4)(5)(6)(7)

(84) 53 (359) (82) (459) 2 (22) 41 102 68 (31) (472) (438)

ACLL at end of period (b)

$ 18,096 $ 16,566 $ 15,105 $ 14,040 $ 12,368 $ 12,983 $ 13,361 $ 14,119 $ 14,389 $ 14,866 $ 14,912 $ 14,040 $ 14,119

Consumer ACLUC

(8)

(b)

$ 42 $ 44 $ 35 $ 29 $ 139 $ 165 $ 143 $ 120 $ 101 $ 88 $ 65 $ 29 $ 120

Provision (release) for credit losses on unfunded lending commitments

$ (15) $ 1 $ (9) $ (5) $ 109 $ 19 $ (8) $ (20) $ (17) $ (4) $ (20) $ (28) $ 100

Total allowance for credit losses on loans, leases and unfunded lending

commitments [sum of (b)]

$ 18,138 $ 16,610 $ 15,140 $ 14,069 $ 12,507 $ 13,148 $ 13,504 $ 14,239 $ 14,490 $ 14,954 $ 14,977 $ 14,069 $ 14,239

Consumer ACLL as a percentage of total consumer loans 4.82% 4.35% 4.09% 3.73% 3.53% 3.65% 3.74% 3.84% 3.96% 3.97% 3.95%

Corporate

ACLL at beginning of period $ 4,776 $ 3,542 $ 2,672 $ 2,610 $ 2,415 $ 3,025 $ 2,969 $ 2,948 $ 2,855 $ 2,780 $ 2,630 $ 4,776 $ 2,415

NCLs

(185) (77) (39) (85) (31) (23) (6) (118) (22) (75) (58) (386) (178)

Replenishment of NCLs 185 77 39 85 31 23 6 118 22 75 58 386 178

Net reserve builds / (releases) for loans

(1,227) (863) (47) (193) 601 (79) 41 (124) (85) (152) 102 (2,330) 439

Provision for credit losses on loans (PCLL) (1,042) (786) (8) (108) 632 (56) 47 (6) (63) (77) 160 (1,944) 617

Other, net

(2)

(7) (7) (15) (2) 9 23 (62) 31 10 2 (15) (31) 1

ACLL at end of period (c)

$ 3,542 $ 2,672 $ 2,610 $ 2,415 $ 3,025 $ 2,969 $ 2,948 $ 2,855 $ 2,780 $ 2,630 $ 2,717 $ 2,415 $ 2,855

Corporate ACLUC

(8)

(c)

$ 1,970 $ 2,029 $ 2,028 $ 1,842 $ 2,204 $ 2,028 $ 1,946 $ 2,031 $ 1,858 $ 1,774 $ 1,741 $ 1,842 $ 2,031

Provision (release) for credit losses on unfunded lending commitments

$ (611) $ 43 $ (4) $ (188) $ 365 $ (178) $ (63) $ 67 $ (177) $ (92) $ (34) $ (760) $ 191

Total allowance for credit losses on loans, leases and unfunded lending

commitments [sum of (c)]

$ 5,512 $ 4,701 $ 4,638 $ 4,257 $ 5,229 $ 4,997 $ 4,894 $ 4,886 $ 4,638 $ 4,404 $ 4,458 $ 4,257 $ 4,886

Corporate ACLL as a percentage of total corporate loans

(9)

1.25% 0.93% 0.91% 0.85% 1.00% 1.00% 1.04% 1.01% 0.98% 0.94% 0.97%

Footnotes to this table are on the following page (page 20).

Page 20

ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS

Page 2

The following footnotes relate to the table on the preceding page (page 19):

(1) Includes the January 1, 2023 opening adjustment related to the adoption of ASU No. 2022-02 Financial Instruments - Credit Losses (Topic 326) TDRs and Vintage

Disclosures.

(2) Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency

translation (FX translation), purchase accounting adjustments, etc.

(3) 3Q22 primarily relates to FX translation.

(4) 4Q22 primarily relates to FX translation.

(5) 1Q23 primarily relates to FX translation.

(6) 2Q23 primarily relates to FX translation.

(7) 3Q23 primarily relates to FX translation.

(8) Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

(9) Excludes loans that are carried at fair value for all periods, including $3.9 billion, $5.4 billion, $5.1 billion, $5.8 billion, and $7.4 billion, at September 30, 2022,

December 31, 2022, March 31, 2023, June 30, 2023, and September 30, 2023, respectively.

Reclassified to conform to the current period's presentation.

Page 21

NON-ACCRUAL ASSETS

(In millions of dollars)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023

Corporate non-accrual loans by region

(1)

North America $ 1,211 $ 895 $ 923 $ 510 $ 462 $ 304 $ 276 $ 138 $ 285 $ 358 $ 934

International

1,505 1,355 1,196 1,043 1,404 1,351 1,209 984 928 903 1,041

Total

$ 2,716 $ 2,250 $ 2,119 $ 1,553 $ 1,866 $ 1,655 $ 1,485 $ 1,122 $ 1,213 $ 1,261 $ 1,975

Corporate non-accrual loans by segment and component

(1)

Banking $ 2,174 $ 1,740 $ 1,579 $ 1,166 $ 1,210 $ 997 $ 1,072 $ 757 $ 833 $ 799 $ 946

Services 84 81 74 70 297 353 185 153 133 123 94

Markets 208 124 173 85 126 29 13 13 38 133 743

Mexico SBMM

250 305 293 232 233 276 215 199 209 206 192

Total

$ 2,716 $ 2,250 $ 2,119 $ 1,553 $ 1,866 $ 1,655 $ 1,485 $ 1,122 $ 1,213 $ 1,261 $ 1,975

Consumer non-accrual loans

(1)

U.S. Personal Banking $ 413 $ 373 $ 345 $ 344 $ 318 $ 320 $ 298 $ 282 $ 287 $ 276 $ 280

Wealth 404 338 292 336 268 216 287 259 321 260 287

Asia Consumer

(2)

292 303 259 209 38 34 30 30 29 24 25

Mexico Consumer 720 612 549 524 512 493 486 457 480 498 463

Legacy Holdings Assets - Consumer

545 506 425 413 381 317 300 289 278 263 247

Total

$ 2,374 $ 2,132 $ 1,870 $ 1,826 $ 1,517 $ 1,380 $ 1,401 $ 1,317 $ 1,395 $ 1,321 $ 1,302

Total non-accrual loans (NAL)

$ 5,090 $ 4,382 $ 3,989 $ 3,379 $ 3,383 $ 3,035 $ 2,886 $ 2,439 $ 2,608 $ 2,582 $ 3,277

Other real estate owned (OREO)

(3)

$ 43 $ 33 $ 21 $ 27 $ 26 $ 13 $ 16 $ 15 $ 21 $ 31 $ 37

NAL as a percentage of total loans 0.76% 0.65% 0.60% 0.51% 0.51% 0.46% 0.45% 0.37% 0.40% 0.39% 0.49%

ACLL as a percentage of NAL 425% 439% 444% 487% 455% 526% 565% 696% 658% 678% 538%

(1) Corporate loans are placed on non-accrual status based upon a review by Citigroup's risk officers. Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for

consumer loans: consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at

90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at

180 days contractual delinquency. As such, the non-accrual loan disclosures do not include credit card loans. The balances above represent non-accrual loans within Consumer loans and Corporate loans on the Consolidated Balance

Sheet.

(2) Asia Consumer also includes Non-accrual assets of Poland and Russia.

(3) Represents the carrying value of all property acquired by foreclosure or other legal proceedings when Citigroup has taken possession of the collateral. Also includes former premises and property for use that is no longer

contemplated.

Reclassified to conform to the current period's presentation.

Page 22

CITIGROUP

CET1 CAPITAL AND SUPPLEMENTARY LEVERAGE RATIOS, TANGIBLE COMMON EQUITY, BOOK VALUE

PER SHARE AND TANGIBLE BOOK VALUE PER SHARE

(In millions of dollars or shares, except per share amounts and ratios)

March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, March 31, June 30, September 30,

Common Equity Tier 1 Capital Ratio and Components

(1)

2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023

Citigroup common stockholders' equity

(3)

$ 182,402 $ 184,289 $ 183,005 $ 183,108 $ 178,845 $ 180,150 $ 179,696 $ 182,325 $ 188,186 $ 188,610 $ 190,134

Add: qualifying noncontrolling interests 132 138 136 143 126 129 113 128 207 209 193

Regulatory capital adjustments and deductions:

Add:

CECL transition provision

(4)

4,359 3,774 3,389 3,028 2,271 2,271 2,271 2,271 1,514 1,514 1,514

Less:

Accumulated net unrealized gains (losses) on cash flow hedges, net of tax 1,037 864 663 101 (1,440) (2,106) (2,869) (2,522) (2,161) (1,990) (1,259)

Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to

own creditworthiness, net of tax (1,172) (1,258) (1,317) (896) 27 2,145 3,211 1,441 1,037 307 625

Intangible assets:

Goodwill, net of related deferred tax liabilities (DTLs)

(5)

20,854 20,999 20,689 20,619 20,120 19,504 18,796 19,007 18,844 18,933 18,552

Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs 4,054 3,986 3,899 3,800 3,698 3,599 3,492 3,411 3,607 3,531 3,444

Defined benefit pension plan net assets; other 1,485 2,040 2,068 2,080 2,230 2,038 1,932 1,935 1,999 2,020 1,340

Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit

carry-forwards

(7)

11,691 11,192 10,897 11,270 11,701 11,679 11,690 12,197 11,783 11,461 11,219

Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs

(7)(8)

- - - - 1,157 798 1,261 325 1,045 1,828 1,786

Common Equity Tier 1 Capital (CET1)

$ 148,944 $ 150,378 $ 149,631 $ 149,305 $ 143,749 $ 144,893 $ 144,567 $ 148,930 $ 153,753 $ 154,243 $ 156,134

Risk-Weighted Assets (RWA)

(4)

$1,287,619 $ 1,277,234 $ 1,284,316 $ 1,219,175 $ 1,257,293 $1,212,386 $ 1,250,153 $ 1,142,985 $1,144,359 $ 1,153,450 $ 1,148,550

Common Equity Tier 1 Capital ratio (CET1/RWA)

11.57 % 11.77 % 11.65 % 12.25 % 11.43 % 11.95 % 11.56 % 13.03 % 13.44 % 13.37 % 13.59 %

Supplementary Leverage Ratio and Components

Common Equity Tier 1 Capital (CET1)

(4)

$ 148,944 $ 150,378 $ 149,631 $ 149,305 $ 143,749 $ 144,893 $ 144,567 $ 148,930 $ 153,753 $ 154,243 $ 156,134

Additional Tier 1 Capital (AT1)

(6)

21,540 19,258 19,271 20,263 20,266 20,266 20,263 20,215 21,496 21,500 20,744

Total Tier 1 Capital (T1C) (CET1 + AT1)

$ 170,484 $ 169,636 $ 168,902 $ 169,568 $ 164,015 $ 165,159 $ 164,830 $ 169,145 $ 175,249 $ 175,743 $ 176,878

Total Leverage Exposure (TLE)

(4)

$2,454,564 $ 2,903,760 $ 2,911,050 $ 2,957,764 $ 2,939,533 $2,918,273 $ 2,888,535 $ 2,906,773 $ 2,939,744 $ 2,943,546 $ 2,927,392

Supplementary Leverage ratio (T1C/TLE)

6.95 % 5.84 % 5.80 % 5.73 % 5.58 % 5.66 % 5.71 % 5.82 % 5.96 % 5.97 % 6.04 %

Tangible Common Equity, Book Value and Tangible Book Value Per Share

Common stockholders' equity $ 182,269 $ 184,164 $ 182,880 $ 182,977 $ 178,714 $ 180,019 $ 179,565 $ 182,194 $ 188,050 $ 188,474 $ 190,008

Less:

Goodwill 21,905 22,060 21,573 21,299 19,865 19,597 19,326 19,691 19,882 19,998 19,829

Intangible assets (other than MSRs) 4,308 4,268 4,144 4,091 4,002 3,926 3,838 3,763 3,974 3,895 3,811

Goodwill and identifiable intangible assets (other than MSRs) related to assets HFS

- - 257 510 1,384 1,081 794 589 246 246 49

Tangible common equity (TCE)

$ 156,056 $ 157,836 $ 156,906 $ 157,077 $ 153,463 $ 155,415 $ 155,607 $ 158,151 $ 163,948 $ 164,335 $ 166,319

Common shares outstanding (CSO)

2,067.0 2,026.8 1,984.3 1,984.4 1,941.9 1,936.7 1,936.9 1,937.0 1,946.8 1,925.7 1,913.9

Book value per share (common equity/CSO)

$ 88.18 $ 90.86 $ 92.16 $ 92.21 $ 92.03 $ 92.95 $ 92.71 $ 94.06 $ 96.59 $ 97.87 $ 99.28

Tangible book value per share (TCE/CSO)

$ 75.50 $ 77.87 $ 79.07 $ 79.16 $ 79.03 $ 80.25 $ 80.34 $ 81.65 $ 84.21 $ 85.34 $ 86.90

Average TCE (in billions of dollars)

Services $ 23.9 $ 23.9 $ 23.9 $ 23.9 $ 22.5 $ 22.5 $ 22.5 $ 22.5 $ 23.0 $ 23.0 $ 23.0

Markets 45.0 45.0 45.0 45.0 51.6 51.6 51.6 51.6 53.1 53.1 53.1

Banking 20.2 20.2 20.2 20.2 21.7 21.7 21.7 21.7 21.4 21.4 21.4

U.S. Personal Banking 21.0 21.0 21.0 21.0 20.7 20.7 20.7 20.7 21.9 21.9 21.9

Wealth 12.9 12.9 12.9 12.9 13.9 13.9 13.9 13.9 13.4 13.4 13.4

All Other

31.7 33.9 34.4 34.0 24.9 24.0 25.1 26.5 28.3 31.3 32.5

Total Citi average TCE $ 154.7 $ 156.9 $ 157.4 $ 157.0 $ 155.3 $ 154.4 $ 155.5 $ 156.9 $ 161.1 $ 164.1 $ 165.3

Plus:

Average Goodwill $ 21.3 $ 22.0 $ 21.9 $ 20.9 $ 21.0 $ 19.4 $ 19.4 $ 19.1 $ 18.7 $ 20.0 $ 19.9

Average Intangible assets (other than MSRs) 4.4 4.3 4.2 4.1 4.0 4.0 3.9 3.8 3.9 3.9 3.9

Average Goodwill and identifiable intangible assets (other than MSRs) related to assets HFS

- - 0.1 0.4 0.9 1.2 0.9 0.7 0.4 0.2 0.1

Total Citi average common stockholders' equity (in billions of dollars)

$ 180.4 $ 183.2 $ 183.6 $ 182.4 $ 181.2 $ 179.0 $ 179.7 $ 180.5 $ 184.1 $ 188.2 $ 189.2

(1) See footnote 8 on page 1.

(2) Not used.

(3) Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.

(4) See footnote 9 on page 1.

(5) Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.

(6) Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

(7) Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit and general business credit tax carry-forwards and DTAs arising from timing differences (future deductions) that are deducted from

CET1 capital exceeding the 10% limitation.

(8) Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. From March 31, 2022 to September 30, 2023, the deduction related only to DTAs arising

from temporary differences that exceeded the 10% limitation.

Reclassified to conform to the current period's presentation.

Exhibit 99.2

Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class

Ticker

Symbol(s)

Title for iXBRL

Name of each

exchange on

which registered

Common Stock, par value $.01 per share C Common Stock, par value $.01 per share

New York Stock

Exchange

Depositary Shares, each representing 1/1,000th interest in a share

of 7.125% Fixed/Floating Rate Noncumulative Preferred Stock,

Series J

C Pr J

Dep Shs, represent 1/1,000th interest in a

share of 7.125% Fix/Float Rate Noncum

Pref Stk, Ser J

New York Stock

Exchange

7.625% Trust Preferred Securities of Citigroup Capital III (and

registrant’s guaranty with respect thereto)

C/36Y

7.625% TRUPs of Cap III (and

registrant’s guaranty)

New York Stock

Exchange

7.875% Fixed Rate / Floating Rate Trust Preferred Securities

(TruPS

) of Citigroup Capital XIII (and registrant’s guaranty with

respect thereto)

C N

7.875% FXD / FRN TruPS of Cap XIII

(and registrant’s guaranty)

New York Stock

Exchange

Medium-Term Senior Notes, Series N, Callable Step-Up Coupon

Notes Due March 31, 2036 of CGMHI (and registrant’s guaranty

with respect thereto)

C/36A

MTN, Series N, Callable Step-Up Coupon

Notes Due Mar 2036 of CGMHI (and

registrant’s guaranty)

New York Stock

Exchange

Medium-Term Senior Notes, Series N, Callable Step-Up Coupon

Notes Due February 26, 2036 of CGMHI (and registrant's guaranty

with respect thereto)

C/36

MTN, Series N, Callable Step-Up Coupon

Notes Due Feb 2036 of CGMHI (and

registrant's guaranty)

New York Stock

Exchange

Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes

Due December 18, 2035 of CGMHI (and registrant's guaranty with

respect thereto)

C/35

MTN, Series N, Callable Fixed Rate

Notes Due Dec 2035 of CGMHI (and

registrant's guaranty)

New York Stock

Exchange

Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes

Due April 26, 2028 of CGMHI (and registrant’s guaranty with

respect thereto)

C/28

MTN, Series N, Callable Fixed Rate

Notes Due Apr 2028 of CGMHI (and

registrant’s guaranty)

New York Stock

Exchange

Medium-Term Senior Notes, Series N, Floating Rate Notes Due

September 17, 2026 of CGMHI (and registrant’s guaranty with

respect thereto)

C/26

MTN, Series N, Floating Rate Notes Due

Sept 2026 of CGMHI (and registrant’s

guaranty)

New York Stock

Exchange

Medium-Term Senior Notes, Series N, Floating Rate Notes Due

September 15, 2028 of CGMHI (and registrant’s guaranty with

respect thereto)

C/28A

MTN, Series N, Floating Rate Notes Due

Sept 2028 of CGMHI (and registrant’s

guaranty)

New York Stock

Exchange

Medium-Term Senior Notes, Series N, Floating Rate Notes Due

October 6, 2028 of CGMHI (and registrant’s guaranty with respect

thereto)

C/28B

MTN, Series N, Floating Rate Notes Due

Oct 2028 of CGMHI (and registrant’s

guaranty)

New York Stock

Exchange

Medium-Term Senior Notes, Series N, Floating Rate Notes Due

March 21, 2029 of CGMHI (and registrant’s guaranty with respect

thereto)

C/29A

MTN, Series N, Floating Rate Notes Due

Mar 2029 of CGMHI (and registrant’s

guaranty)

New York Stock

Exchange