CITIGROUP INC. AND SUBSIDIARIES

Transcription

1 CITIGROUP INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF INCOME CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY Years ended 3 December In millions of dollars, except per share amounts () Revenues Interest revenue $ 6,204 $ 57,65 Interest expense 6,57 2,5 Net interest revenue $ 44,687 $ 45,04 Commissions and fees $ 2,939 $,938 Principal transactions 9,68 7,585 Administration and other fiduciary fees 3,079 2,783 Realized gains on sales of investments, net Other-than-temporary impairment losses on investments Gross impairment losses (63) (620) Less: Impairments recognized in AOCI - - Net impairment losses recognized in earnings $ (63) $ (620) Other revenue $ 86 $ 2,37 Total non-interest revenues $ 26,762 $ 24,77 Total revenues, net of interest expense $ 7,449 $ 69,875 Provisions for credit losses and for benefits and claims Provision for loan losses $ 7,503 $ 6,749 Policyholder benefits and claims Provision (release) for unfunded lending commitments (6) 29 Total provisions for credit losses and for benefits and claims $ 7,45 $ 6,982 () Operating expenses Compensation and benefits $ 2,8 $ 20,970 Premises and equipment 2,453 2,542 Technology/communication 6,89 6,685 Advertising and marketing,608,632 Other operating 9,04 9,587 Total operating expenses $ 4,237 $ 4,46 Income from continuing operations before income taxes $ 22,76 $ 2,477 Provision for income taxes (benefits) 29,388 6,444 Income (loss) from continuing operations $ (6,627) $ 5,033 Discontinued operations Loss from discontinued operations $ (04) $ (80) Provision (benefit) for income taxes 7 22 Loss from discontinued operations, net of taxes $ () $ (58) Net income (loss) before attribution of noncontrolling interests $ (6,738) $ 4,975 Noncontrolling interests Citigroup s net income (loss) $ (6,798) $ 4,92 Basic earnings per share Loss from discontinued operations, net of taxes (0.04) (0.02) Weighted average common shares outstanding 2, ,888. Diluted earnings per share Income (loss) from discontinued operations, net of taxes (0.04) (0.02) Adjusted weighted average common shares outstanding 2, ,888.3 () Certain prior-period revenue and expense lines and totals were reclassified to conform to the current period's presentation. Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income. CONSOLIDATED BALANCE SHEET Years ended 3 December In millions of dollars, except shares in thousands Preferred stock at aggregate liquidation value Balance, beginning of year $ 9,253 $ 6,78 Issuance of new preferred stock - 2,535 Balance, end of period $ 9,253 $ 9,253 Common stock and additional paid-in capital Balance, beginning of year $ 08,073 $ 08,39 Employee benefit plans (27) (25) Preferred stock issuance expense - (37) Other (7) 42 Balance, end of period $ 08,039 $ 08,073 Retained earnings Balance, beginning of year $ 46,477 $ 33,84 () Adjustment to opening balance, net of taxes (660) 5 Adjusted balance, beginning of period $ 45,87 $ 33,856 Citigroup s net income (loss) (6,798) 4,92 Common dividends (2,595) (,24) Preferred dividends (,23) (,077) Impact of Tax Reform related to AOCI reclassification 3,304 - (4) Other (90) - Balance, end of period $ 38,425 $ 46,477 Treasury stock, at cost Balance, beginning of year $ (6,302) $ (7,677) (5) Employee benefit plans (6) Treasury stock acquired (4,538) (9,45) Balance, end of period $ (30,309) $ (6,302) Citigroup s accumulated other comprehensive income (loss) Balance, beginning of year $ (32,38) $ (29,344) () Adjustment to opening balance, net of taxes 504 (5) Adjusted balance, beginning of period $ (3,877) $ (29,359) Citigroup s total other comprehensive income (loss) (2,79) (3,022) Balance, end of period $ (34,668) $ (32,38) Total Citigroup common stockholders equity $ 8,487 $ 205,867 Total Citigroup stockholders equity $ 200,740 $ 225,20 Non-controlling interests Balance, beginning of year $,023 $,235 Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary (28) () Transactions between Citigroup and the noncontrolling-interest shareholders (30) Net income attributable to noncontrolling-interest shareholders Dividends paid to noncontrolling-interest shareholders (44) (42) Other comprehensive income (loss) attributable to non-controlling-interest shareholders 4 (56) Other (72) (36) Net change in noncontrolling interests $ (9) $ (22) Balance, end of period $ 932 $,023 Total equity $ 20,672 $ 226,43 () Common dividends declared were $0.6 per share in the first and second quarters and $0.32 per share in the third and fourth quarters of 207; $0.05 per share in the first and second quarters and $0.6 per share in the third and fourth quarters of 206. Includes the impact of ASU , which transferred those amounts from AOCI to Retained earnings. Includes the impact of ASU No See Note to the Consolidated Financial Statements. (4) Includes treasury stock related to (i) certain activity on employee stock option program exercises, where the employee delivers existing shares to cover the option exercise, or (ii) under Citi s employee-restricted or deferredstock programs, where shares are withheld to satisfy tax requirements. (5) For 207 and 206 primarily consists of open market purchases under Citi s Board of Directors-approved common stock repurchase program. As at 3 December In millions of dollars, except shares and per share amounts Assets Cash and due from banks $ 23,775 $ 23,043 Deposits with banks 56,74 37,45 Federal funds sold and securities borrowed or purchased under agreements to resell (including $32,949 and $33,204 as of December 3, 207 and December 3, 206, respectively, at fair value) 232, ,83 Brokerage receivables 38,384 28,887 Trading account assets (including $99,460 and $80,986 pledged to creditors at December 3, 207 and December 3, 206, respectively) 25, ,925 Investments: Available for sale (including $9,493 and $8,239 pledged to creditors as of December 3, 207 and December 3, 206, respectively) 290,94 299,424 Held to maturity (including $435 and $843 pledged to creditors as of December 3, 207 and December 3, 206, respectively) 53,320 45,667 Non-marketable equity securities (including $,206 and $,774 at fair value as of December 3, 207 and December 3, 206, respectively) 8,056 8,23 Total investments $ 352,290 $ 353,304 Loans: Consumer (including $25 and $29 as of December 3, 207 and December 3, 206, respectively, at fair value) 333, ,063 Corporate (including $4,349 and $3,457 as of December 3, 207 and December 3, 206, respectively, at fair value) 333, ,306 Loans, net of unearned income $ 667,034 $ 624,369 Allowance for loan losses (2,355 ) (2,060 ) Total loans, net $ 654,679 $ 62,309 Goodwill 22,256 2,659 Intangible assets (other than MSRs) 4,588 5,4 Mortgage servicing rights (MSRs) 558,564 Other assets (including $9,793 and $5,729 as of December 3, 207 and December 3, 206,respectively, at fair value) 05,60 28,008 Total assets $,842,465 $,792,077 Liabilities Non-interest-bearing deposits in U.S. offices $ 26,880 $ 36,698 Interest-bearing deposits in U.S. offices (including $303 and $434 as of December 3, 207 and December 3, 206, respectively, at fair value) 38,63 300,972 Non-interest-bearing deposits in offices outside the U.S. 87,440 77,66 Interest-bearing deposits in offices outside the U.S. (including $,62 and $778 as of December 3, 207 and December 3, 206, respectively, at fair value) 426,889 44,20 Total deposits $959,822 $929,406 Federal funds purchased and securities loaned or sold under agreements to repurchase (including $40,638 and $33,663 as of December 3, 207 and December 3, 206, respectively, at fair value) 56,277 4,82 Brokerage payables 6,342 57,52 Trading account liabilities 24,047 39,045 Short-term borrowings (including $4,627 and $2,700 as of December 3, 207 and December 3, 206, respectively, at fair value) 44,452 30,70 Long-term debt (including $3,392 and $26,254 as of December 3, 207 and December 3, 206, respectively, at fair value) 236, ,78 Other liabilities (including $5,084 and $0,796 as of December 3, 207 and December 3, 206, respectively, at fair value) 58,44 6,63 Total liabilities $,640,793 $,565,934 Stockholders equity Preferred stock ($.00 par value; authorized shares: 30 million), issued shares: 770,20 as of December 3, 207 and December 3, 206, at aggregate liquidation value $ 9,253 $ 9,253 Common stock ($0.0 par value; authorized shares: 6 billion), issued shares: 3,099,523,273 and 3,099,482,042 as of December 3, 207 and December 3, 206, respectively 3 3 Additional paid-in capital 08,008 08,042 Retained earnings 38,425 46,477 Treasury stock, at cost: December 3, ,64,728 shares and December 3, ,090,92 shares (30,309 ) (6,302 ) Accumulated other comprehensive income (loss) (34,668 ) (32,38 ) Total Citigroup stockholders equity $ 200,740 $ 225,20 Noncontrolling interest 932,023 Total equity $ 20,672 $ 226,43 Total liabilities and equity $,842,465 $,792,077 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME In millions of dollars CITIGROUP FINANCIAL SUMMARY In billions of dollars, except per-share amounts, ratios and direct staff Citigroup s net income (loss) $ (6,798) $ 4,92 Add: Citigroup s other comprehensive income (loss) Net change in unrealized gains and losses on investment securities, net of taxes $ (863) $ 08 Net change in debt valuation adjustment (DVA), net of taxes (569) (337) Net change in cash flow hedges, net of taxes (38) 57 Benefit plans liability adjustment, net of taxes (,09) (48) Net change in foreign currency translation adjustment, net of taxes and hedges (202) (2,802) () Citigroup s total other comprehensive income (loss) $ (2,79) $ (3,022) Citigroup s total comprehensive income (loss) $ (9,589) $,890 Add: Other comprehensive income (loss) attributable to noncontrolling interests $ 4 $ (56) Add: Net income attributable to noncontrolling interests Total comprehensive income (loss) $ (9,45) $,897 () Includes the impact of ASU , adopted in the fourth quarter of Global Consumer Banking Net Revenues $ 32.7 $ 3.5 Institutional Clients Group Net Revenues Corporate/Other Net Revenues Total Net Revenues $ 7.5 $ 69.9 Net Income $ 5.8 $ 4.9 Diluted EPS - Net Income Diluted EPS - Income from Continuing Operations Assets $,843 $,792 Deposits Citigroup Stockholders Equity Basel III Ratios - Full Implementation Common Equity Tier Capital 2.4% 2.6% Tier Capital 4.% 4.2% Total Capital 6.3% 6.2% Supplementary Leverage 6.7% 7.2% Return on Assets 0.84% 0.82% Efficiency Ratio 58% 59% Return on Common Equity 7.0% 6.6% Book Value per Share $ $ Tangible Book Value per Share 60.6% Common Shares Outstanding (millions) 2, ,772.4 Total Payout Ratio 7.5% 77.% Market Capitalization $ 9 $ 65 Direct Staff (thousands) Totals may not sum due to rounding. () 207 excludes the impact from tax reform. Results excluding the impact from Tax Reform are non GAAP Financial measures.

2 CITIGROUP INC. AND SUBSIDIARIES CORPORATE INFORMATION CITIGROUP EXECUTIVE OFFICERS Each executive officer has held executive or management positions with Citigroup for at least five years, except that: Citigroup's Executive officers as of February 23, 208 are: Name Age Position and office held Raja J. Akram 45 Controller and Chief Accounting Officer Francisco Aristeguieta 52 CEO, Asia Pacific Stephen Bird 5 CEO, Global Consumer Banking Don Callahan 6 Head of Operations and Technology Michael L. Corbat 57 Chief Executive Officer James C. Cowles 62 CEO, Europe, Middle East and Africa Barbara Desoer 65 CEO, Citibank, N.A. James A. Forese 55 President; CEO, Institutional Client Group Jane Fraser 50 CEO, Latin America John C. Gerpach 64 Chief Financial Oficer Bradford Hu 54 Chief Risk Officer William J. Mills 62 CEO, North America J. Michael Murray 53 Head of Human Resources Rohan Weerasinghe 67 General Counsel and Corporate Secretary Mr. Akram joined Citi in 2006 and assumed his current position in November 207. Previously, he had served as Deputy Controller since April 207. He held a number of other roles in Citi Finance, including Lead Finance Officer for Treasury and Trade Solutions, Brazil Country Controller, Brazil Country Finance Officer and head of the Corporate Accounting Policy team supporting M&A activities. Ms. Desoer joined Citibank, N.A. as Chief Operating Officer in October 203 and assumed her current position in April 204. Prior to joining Citi, Ms. Desoer had a 35-year career at Bank of America, where she was President, Bank of America Home Loans, a Global Technology & Operations Executive, and President, Consumer Products, among other role. Code of Conduct, Code of Ethics Citi has a Code of Conduct that maintains its commitment to the highest standards of conduct, The Code of Conduct is supplemented by a Code of Ethics for Financial Professionals (including accounting, controllers, financial reporting operations, financial planning and analysis, treasury, tax, strategy and M&A, investor relations and regional/product finance professionals and administrative staff) that applies worldwide. The Code of Ethics for Financial Professionals applies to Citi's principal executive officer, principal financial officer and principal accounting officer. Amendments and waivers, if any, to the Code of Ethics for Financial Professionals will be disclosed on Citi's website, Both the Code of Conduct and the Code of Ethics for Financial Professionals can be found on the Citi website by clicking on "About Us", and then "Corporate Governance". Citi's Corporate Governance Guidelines can also be found there, as well as the charters for the Audit Committee, the Ethics and Culture Committee, the Executive Committee, the Nomination, Governance and Public Affairs Committee, the Operations and Technology Committee, the Personnel and Compensation Committee and the Risk Management Committee of the Board. These materials are also available by writing to Citigroup Inc., Corporate Governance, 60 Lexington Avenue, 9th Floor, New York, New York 0022.

3 CONSOLIDATED STATEMENT OF INCOME Years ended 3 December In millions of dollars, except per share amounts () Revenues Interest revenue $ 6,204 $ 57,65 Interest expense 6,57 2,5 Net interest revenue $ 44,687 $ 45,04 Commissions and fees $ 2,939 $,938 Principal transactions 9,68 7,585 Administration and other fiduciary fees 3,079 2,783 Realized gains on sales of investments, net Other-than-temporary impairment losses on investments Gross impairment losses (63) (620) Less: Impairments recognized in AOCI - - Net impairment losses recognized in earnings $ (63) $ (620) Other revenue $ 86 $ 2,37 Total non-interest revenues $ 26,762 $ 24,77 Total revenues, net of interest expense $ 7,449 $ 69,875 Provisions for credit losses and for benefits and claims Provision for loan losses $ 7,503 $ 6,749 Policyholder benefits and claims Provision (release) for unfunded lending commitments (6) 29 Total provisions for credit losses and for benefits and claims $ 7,45 $ 6,982 () Operating expenses Compensation and benefits $ 2,8 $ 20,970 Premises and equipment 2,453 2,542 Technology/communication 6,89 6,685 Advertising and marketing,608,632 Other operating 9,04 9,587 Total operating expenses $ 4,237 $ 4,46 Income from continuing operations before income taxes $ 22,76 $ 2,477 Provision for income taxes (benefits) 29,388 6,444 Income (loss) from continuing operations $ (6,627) $ 5,033 Discontinued operations Loss from discontinued operations $ (04) $ (80) Provision (benefit) for income taxes 7 22 Loss from discontinued operations, net of taxes $ () $ (58) Net income (loss) before attribution of noncontrolling interests $ (6,738) $ 4,975 Noncontrolling interests Citigroup s net income (loss) $ (6,798) $ 4,92 Basic earnings per share Loss from discontinued operations, net of taxes (0.04) (0.02) Weighted average common shares outstanding 2, ,888. Diluted earnings per share Income (loss) from discontinued operations, net of taxes (0.04) (0.02) Adjusted weighted average common shares outstanding 2, ,888.3 () Certain prior-period revenue and expense lines and totals were reclassified to conform to the current period's presentation. Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.

4 CONSOLIDATED BALANCE SHEET As at 3 December In millions of dollars, except shares and per share amounts Assets Cash and due from banks $ 23,775 $ 23,043 Deposits with banks 56,74 37,45 Federal funds sold and securities borrowed or purchased under agreements to resell (including $32,949 and $33,204 as of December 3, 207 and December 3, 206, respectively, at fair value) 232, ,83 Brokerage receivables 38,384 28,887 Trading account assets (including $99,460 and $80,986 pledged to creditors at December 3, 207 and December 3, 206, respectively) 25, ,925 Investments: Available for sale (including $9,493 and $8,239 pledged to creditors as of December 3, 207 and December 3, 206, respectively) 290,94 299,424 Held to maturity (including $435 and $843 pledged to creditors as of December 3, 207 and December 3, 206, respectively) 53,320 45,667 Non-marketable equity securities (including $,206 and $,774 at fair value as of December 3, 207 and December 3, 206, respectively) 8,056 8,23 Total investments $ 352,290 $ 353,304 Loans: Consumer (including $25 and $29 as of December 3, 207 and December 3, 206, respectively, at fair value) 333, ,063 Corporate (including $4,349 and $3,457 as of December 3, 207 and December 3, 206, respectively, at fair value) 333, ,306 Loans, net of unearned income $ 667,034 $ 624,369 Allowance for loan losses (2,355 ) (2,060 ) Total loans, net $ 654,679 $ 62,309 Goodwill 22,256 2,659 Intangible assets (other than MSRs) 4,588 5,4 Mortgage servicing rights (MSRs) 558,564 Other assets (including $9,793 and $5,729 as of December 3, 207 and December 3, 206,respectively, at fair value) 05,60 28,008 Total assets $,842,465 $,792,077 Liabilities Non-interest-bearing deposits in U.S. offices $ 26,880 $ 36,698 Interest-bearing deposits in U.S. offices (including $303 and $434 as of December 3, 207 and December 3, 206, respectively, at fair value) 38,63 300,972 Non-interest-bearing deposits in offices outside the U.S. 87,440 77,66 Interest-bearing deposits in offices outside the U.S. (including $,62 and $778 as of December 3, 207 and December 3, 206, respectively, at fair value) 426,889 44,20 Total deposits $959,822 $929,406 Federal funds purchased and securities loaned or sold under agreements to repurchase (including $40,638 and $33,663 as of December 3, 207 and December 3, 206, respectively, at fair value) 56,277 4,82 Brokerage payables 6,342 57,52 Trading account liabilities 24,047 39,045 Short-term borrowings (including $4,627 and $2,700 as of December 3, 207 and December 3, 206, respectively, at fair value) 44,452 30,70 Long-term debt (including $3,392 and $26,254 as of December 3, 207 and December 3, 206, respectively, at fair value) 236, ,78 Other liabilities (including $5,084 and $0,796 as of December 3, 207 and December 3, 206, respectively, at fair value) 58,44 6,63 Total liabilities $,640,793 $,565,934 Stockholders equity Preferred stock ($.00 par value; authorized shares: 30 million), issued shares: 770,20 as of December 3, 207 and December 3, 206, at aggregate liquidation value $ 9,253 $ 9,253 Common stock ($0.0 par value; authorized shares: 6 billion), issued shares: 3,099,523,273 and 3,099,482,042 as of December 3, 207 and December 3, 206, respectively 3 3 Additional paid-in capital 08,008 08,042 Retained earnings 38,425 46,477 Treasury stock, at cost: December 3, ,64,728 shares and December 3, ,090,92 shares (30,309 ) (6,302 ) Accumulated other comprehensive income (loss) (34,668 ) (32,38 ) Total Citigroup stockholders equity $ 200,740 $ 225,20 Noncontrolling interest 932,023 Total equity $ 20,672 $ 226,43 Total liabilities and equity $,842,465 $,792,077

5 CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY Years ended 3 December In millions of dollars, except shares in thousands Preferred stock at aggregate liquidation value Balance, beginning of year $ 9,253 $ 6,78 Issuance of new preferred stock - 2,535 Balance, end of period $ 9,253 $ 9,253 Common stock and additional paid-in capital Balance, beginning of year $ 08,073 $ 08,39 Employee benefit plans (27) (25) Preferred stock issuance expense - (37) Other (7) 42 Balance, end of period $ 08,039 $ 08,073 Retained earnings Balance, beginning of year $ 46,477 $ 33,84 () Adjustment to opening balance, net of taxes (660) 5 Adjusted balance, beginning of period $ 45,87 $ 33,856 Citigroup s net income (loss) (6,798) 4,92 Common dividends (2,595) (,24) Preferred dividends (,23) (,077) Impact of Tax Reform related to AOCI reclassification 3,304 - (4) Other (90) - Balance, end of period $ 38,425 $ 46,477 Treasury stock, at cost Balance, beginning of year $ (6,302) $ (7,677) (5) Employee benefit plans (6) Treasury stock acquired (4,538) (9,45) Balance, end of period $ (30,309) $ (6,302) Citigroup s accumulated other comprehensive income (loss) Balance, beginning of year $ (32,38) $ (29,344) () Adjustment to opening balance, net of taxes 504 (5) Adjusted balance, beginning of period $ (3,877) $ (29,359) Citigroup s total other comprehensive income (loss) (2,79) (3,022) Balance, end of period $ (34,668) $ (32,38) Total Citigroup common stockholders equity $ 8,487 $ 205,867 Total Citigroup stockholders equity $ 200,740 $ 225,20 Non-controlling interests Balance, beginning of year $,023 $,235 Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary (28) () Transactions between Citigroup and the noncontrolling-interest shareholders (30) Net income attributable to noncontrolling-interest shareholders Dividends paid to noncontrolling-interest shareholders (44) (42) Other comprehensive income (loss) attributable to non-controlling-interest shareholders 4 (56) Other (72) (36) Net change in noncontrolling interests $ (9) $ (22) Balance, end of period $ 932 $,023 Total equity $ 20,672 $ 226,43 () Common dividends declared were $0.6 per share in the first and second quarters and $0.32 per share in the third and fourth quarters of 207; $0.05 per share in the first and second quarters and $0.6 per share in the third and fourth quarters of 206. Includes the impact of ASU , which transferred those amounts from AOCI to Retained earnings. Includes the impact of ASU No See Note to the Consolidated Financial Statements. (4) Includes treasury stock related to (i) certain activity on employee stock option program exercises, where the employee delivers existing shares to cover the option exercise, or (ii) under Citi s employee-restricted or deferredstock programs, where shares are withheld to satisfy tax requirements. (5) For 207 and 206 primarily consists of open market purchases under Citi s Board of Directors-approved common stock repurchase program.

6 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME In millions of dollars Citigroup s net income (loss) $ (6,798) $ 4,92 Add: Citigroup s other comprehensive income (loss) Net change in unrealized gains and losses on investment securities, net of taxes $ (863) $ 08 Net change in debt valuation adjustment (DVA), net of taxes (569) (337) Net change in cash flow hedges, net of taxes (38) 57 Benefit plans liability adjustment, net of taxes (,09) (48) Net change in foreign currency translation adjustment, net of taxes and hedges (202) (2,802) () Citigroup s total other comprehensive income (loss) $ (2,79) $ (3,022) Citigroup s total comprehensive income (loss) $ (9,589) $,890 Add: Other comprehensive income (loss) attributable to noncontrolling interests $ 4 $ (56) Add: Net income attributable to noncontrolling interests Total comprehensive income (loss) $ (9,45) $,897 () Includes the impact of ASU , adopted in the fourth quarter of 207. CITIGROUP FINANCIAL SUMMARY In billions of dollars, except per-share amounts, ratios and direct staff Global Consumer Banking Net Revenues $ 32.7 $ 3.5 Institutional Clients Group Net Revenues Corporate/Other Net Revenues Total Net Revenues $ 7.5 $ 69.9 Net Income $ 5.8 $ 4.9 Diluted EPS - Net Income Diluted EPS - Income from Continuing Operations Assets $,843 $,792 Deposits Citigroup Stockholders Equity Basel III Ratios - Full Implementation Common Equity Tier Capital 2.4% 2.6% Tier Capital 4.% 4.2% Total Capital 6.3% 6.2% Supplementary Leverage 6.7% 7.2% Return on Assets 0.84% 0.82% Efficiency Ratio 58% 59% Return on Common Equity 7.0% 6.6% Book Value per Share $ $ Tangible Book Value per Share 60.6% Common Shares Outstanding (millions) 2, ,772.4 Total Payout Ratio 7.5% 77.% Market Capitalization $ 9 $ 65 Direct Staff (thousands) Totals may not sum due to rounding. () 207 excludes the impact from tax reform. Results excluding the impact from Tax Reform are non GAAP Financial measures.

7 CITIGROUP INC. AND SUBSIDIARIES CORPORATE INFORMATION CITIGROUP EXECUTIVE OFFICERS Each executive officer has held executive or management positions with Citigroup for at least five years, except that: Citigroup's Executive officers as of February 23, 208 are: Name Age Position and office held Raja J. Akram 45 Controller and Chief Accounting Officer Francisco Aristeguieta 52 CEO, Asia Pacific Stephen Bird 5 CEO, Global Consumer Banking Don Callahan 6 Head of Operations and Technology Michael L. Corbat 57 Chief Executive Officer James C. Cowles 62 CEO, Europe, Middle East and Africa Barbara Desoer 65 CEO, Citibank, N.A. James A. Forese 55 President; CEO, Institutional Client Group Jane Fraser 50 CEO, Latin America John C. Gerpach 64 Chief Financial Oficer Bradford Hu 54 Chief Risk Officer William J. Mills 62 CEO, North America J. Michael Murray 53 Head of Human Resources Rohan Weerasinghe 67 General Counsel and Corporate Secretary Mr. Akram joined Citi in 2006 and assumed his current position in November 207. Previously, he had served as Deputy Controller since April 207. He held a number of other roles in Citi Finance, including Lead Finance Officer for Treasury and Trade Solutions, Brazil Country Controller, Brazil Country Finance Officer and head of the Corporate Accounting Policy team supporting M&A activities. Ms. Desoer joined Citibank, N.A. as Chief Operating Officer in October 203 and assumed her current position in April 204. Prior to joining Citi, Ms. Desoer had a 35-year career at Bank of America, where she was President, Bank of America Home Loans, a Global Technology & Operations Executive, and President, Consumer Products, among other role. Code of Conduct, Code of Ethics Citi has a Code of Conduct that maintains its commitment to the highest standards of conduct, The Code of Conduct is supplemented by a Code of Ethics for Financial Professionals (including accounting, controllers, financial reporting operations, financial planning and analysis, treasury, tax, strategy and M&A, investor relations and regional/product finance professionals and administrative staff) that applies worldwide. The Code of Ethics for Financial Professionals applies to Citi's principal executive officer, principal financial officer and principal accounting officer. Amendments and waivers, if any, to the Code of Ethics for Financial Professionals will be disclosed on Citi's website, Both the Code of Conduct and the Code of Ethics for Financial Professionals can be found on the Citi website by clicking on "About Us", and then "Corporate Governance". Citi's Corporate Governance Guidelines can also be found there, as well as the charters for the Audit Committee, the Ethics and Culture Committee, the Executive Committee, the Nomination, Governance and Public Affairs Committee, the Operations and Technology Committee, the Personnel and Compensation Committee and the Risk Management Committee of the Board. These materials are also available by writing to Citigroup Inc., Corporate Governance, 60 Lexington Avenue, 9th Floor, New York, New York 0022.