What’s Inside

2023
Environmental,
Social andGovernance Report2

About This Report

Building Equitable andResilient Communities

3

Letter from Our CEO

41

42023 Highlights

Addressing Financial Inclusion
and the U.S. Racial Wealth Gap

42

Citi Impact Fund

44

Strategic Philanthropy:
The Citi Foundation

46

Citi Volunteers Around the World

ESG at Citi
5

Integrating Our Approach

7

ESG Governance at Citi

9

Stakeholder Engagement at Citi

Sustainable Finance
13

Financing the Low-Carbon
Transition

13

Social Finance in Emerging
Markets

14

Supporting Affordable Housing

15

Our $1 Trillion Goal

Climate Risk and Net Zero24

Our Net Zero Commitment

25

Our Approach to Managing
Climate Risk

Sustainable Operations
27

Operational Footprint Goals

28

Net Zero Commitment

29

Sustainable and Healthy Buildings

33
34
35

Diversity, Equity & Inclusion
and Talent Management
47

Our People Strategy

48

Our Approach to Diversity,
Equity & Inclusion and TalentManagement

Responsible Business
59

Transforming Our Firm

60

Ethics at Citi

62

Risk Management71

Human Rights

79

Serving Our Customers andClients Responsibly

81

Responsible Sourcing

Appendices84

Sustainability Accounting 		Standards Board Index

Efficient Travel

91

Managing Climate Risk in Our
Operations

United Nations Guiding Principles
Reporting Framework Index

96

Assurance

Environmental Performancefor Operations

ESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

About
This Report
This report illustrates how we bring our missionof enabling growth and economic progress tolife through our business. We focus on issues
that we have determined to be relevant froman environmental, social and governance (ESG)
perspective, which is a broader view than thatused in our financial disclosures.
In preparing our ESG reports, we havehistorically referenced several disclosure
frameworks. We are currently working to update
our approach to reporting on sustainability
matters to address our evolving regulatory
obligations and will share an updated view
based upon applicable criteria in futurereporting. In this year’s report, we reference
the Task Force on Climate-related Financial
Disclosures recommendations, relevant sector
standards from the Sustainability AccountingStandards Board and the U.N. Guiding Principles

on Business and Human Rights framework(see related indexes). This report complements
information published in our 2023 Annual
Report, our 2023 Citi Climate Report and ourEnvironmental and Social Policy Framework.
All reporting and performance data are limited
to information for the owned and operated
facilities of Citigroup Inc. and its subsidiaries,
unless stated otherwise. Additional information
about Citi can be found on our website. For more
information, please visit citigroup.com/global/
our-impact or contact:
Enterprise Services and Public Affairs
Citigroup Inc.
388 Greenwich St.
New York, NY 10013
sustainability@citi.com

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

A Note on Materiality, Metrics and Forward-Looking Statements
The disclosures included in this report are being provided to the public in an effort to provide transparency into
our environmental, social and governance (ESG) initiatives, to respond to stakeholder requests, and to further
enhance our stakeholders' understanding of ESG practices at Citi. Our approaches to the disclosures included inthis report differ in significant ways from those included in mandatory regulatory reporting, including under U.S.
Securities and Exchange Commission (SEC) rules and regulations and applicable stock exchange listings, andmay consider different and broader definitions of materiality promulgated by other frameworks and reporting
guidelines that take into consideration a wider range of factors. Thus, while certain matters discussed in thisreport may be significant, any significance should not be read as necessarily rising to the level of materiality used
for the purposes of complying with the U.S. federal securities laws, EU requirements and regulations, or any otherregulatory purpose, even if we use the word “material” or “materiality” in this report.
Certain statements in this report are “forward-looking statements” within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations
and are subject to known and unknown risks, uncertainties, changes in circumstances, and assumptions thatare difficult to predict and are often beyond our control and inherently uncertain. These statements are notguarantees of future results, occurrences or performance. Actual results and outcomes may differ materially fromthose included in this report due to a variety of factors, including, but not limited to the precautionary statements
included in this report as well as the following factors: global socio-demographic and economic trends, climaterelated conditions and weather events, energy prices and technological innovations, consumer and client
behavior, data limitations and uncertainty, legislative and regulatory changes, potentially conflicting ESG-related
initiatives from certain U.S. state and other governments, and other unforeseen events or conditions. Moreover,many of the forward-looking statements included in this report are based on assumptions, standards, metrics,
measurements, methodologies, data and internal frameworks believed to be reasonable at the time of preparation,
but should not be considered guarantees. In particular, assumptions, standards, metrics, methodologies
and frameworks for measurement, reporting and analysis of climate change continue to evolve, vary acrossjurisdictions and regulatory bodies and are the subject of proposed regulatory changes in multiple jurisdictions,which may have a material impact on our future measurement and reporting, as well as the results of the efforts set
forth in this report. Additionally, certain information and metrics in these disclosures are reliant on methodologies
and third-party information that we do not independently verify and which may continue to evolve. In particular,
we note that standards for accounting for and measuring impact and greenhouse gas (GHG) emissions, aswell as measuring GHG emissions reductions, and how the use of voluntary carbon offsets may feature in GHG
accounting, vary, including due to the underlying emissions factors, assumptions or other methodologicalfeatures. To the extent that such methodologies or third-party information we use is subsequently determined
to be erroneous or otherwise not in keeping with best practices, it may affect our disclosures and our reported
progress on our emissions-reduction goals.
Other factors that could cause actual results to differ materially from those described in forward-looking
statements can be found in this report, in our filings with the SEC, including, without limitation, the “Risk Factors”
section of our 2023 Annual Report on Form 10-K. Precautionary statements included in such filings should be readin conjunction with this document. Any forward-looking statements made by or on behalf of Citi speak only as tothe date they are made, and Citi does not undertake to update forward-looking statements to reflect the impact of
circumstances or events that arise after the date the forward-looking statements were made. This report contains
statements based on hypothetical or severely adverse scenarios and assumptions, and these statements should
not necessarily be viewed as being representative of current or actual risk or forecasts of expected risk. While
future events discussed in this report may be significant, any significance should not be read as necessarily rising
to the level of materiality of the disclosures required under U.S. federal securities laws.

Citi 2023 ESG Report

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Letter from
Our CEOThis past year once again underscored theimportant role Citi plays in helping the clientsand communities we serve navigate their biggest
economic and societal challenges. Amidst an
uncertain macro environment, rising geopoliticaltensions, technological advancements andthe urgency of the energy transition, our global
network uniquely positions us to address manyof these critical issues.
Despite market headwinds, we made progresslast year on our $1 trillion sustainable financegoal, and we have now financed and facilitated$441 billion in environmental and social financeactivity since 2020. In the past year, theseprojects included supporting water purificationin Vietnam, increasing access to affordable
solar energy in Kenya, and working with
manufacturers producing the inputs needed forelectric vehicles, green hydrogen and renewableenergy. We also financed nearly $6.5 billion in
U.S. affordable housing in 2023, making us thenumber one affordable housing lender in ourhome market for the 14th year in a row.
Our targeted capital continues to spur
innovation and entrepreneurship that lifts
communities around the world. In 2023, theCiti Foundation’s inaugural Global Innovation
Challenge provided $25 million to 50 community
organizations working to improve food security
and strengthen the financial health of lowCiti 2023 ESG Report

income families and communities. The Citi
Impact Fund helped entrepreneurs working inunderserved communities navigate a challenging
macroeconomic environment, whilst financial
inclusion innovations such as the Citi® ATM
Community Network and the Citi Start Saving®
platform continue to expand financial access forfamilies across the U.S.
Growing economic opportunity is vital to
our mission, and it will remain integral to ourbusiness. Last year, we exceeded the goals
we set as part of our Action for Racial Equity
initiative — a three-year, $1 billion commitment
to help close the racial wealth gap in the U.S. But
we know our work is not done. For instance, ourDiverse Financial Institutions Group continues
to play a leading role in providing access tocapital and revenue-generating opportunities
for Minority Depository Institutions and diverse
broker-dealers. We also earned a spot on theBillion Dollar Roundtable, a list of U.S.-based
corporations that voluntarily spend $1 billion ormore annually with certified diverse suppliers.
These commitments are now embedded in ourbusiness and core to how we operate.
We strive to adhere to the highest ethicalstandards in our business and to makethoughtful decisions about how we manage
risks for our company and our stakeholders. A
key part of our role in maintaining the public’s

trust is to uphold our guiding principles for fair,equitable, dependable and nondiscriminatory
access to financial services and products.
Partnership and consensus-building between
the public and private sectors remain critical tothis work, particularly the journey toward net
zero. In our role as a global bank, we will continue
to push for necessary government frameworks
and policies that help facilitate and acceleratetransition finance and its successful deployment.
And we must stay mindful of economic realities.
We are committed to working side by side withour clients in financing their transitions to
low-carbon business models. At the same time,
we must support clients who are supplying theenergy that meets the world’s near-term needs.
These activities are not mutually exclusive andmust be addressed simultaneously.
At the core of our success are the more than
200,000 talented Citi colleagues around theworld. We remain committed to building aworkforce that reflects the diversity of the clientsand communities we serve, and we foster aculture of belonging where all colleagues feelvalued and empowered to bring their authentic
selves to work. This is not only the right thing todo, it also ensures that we deliver the best of Citi
to our clients.
I invite you to read the following report andlearn more about the impact of our workaround the world and within our organization.
We recognize that the biggest challenges
confronting our society come with both risk
and upside, and we must continue to act swiftly,transparently and ethically to make measurable
progress for everyone.

Jane Fraser
Chief Executive Officer
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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices2023 Highlights

Building Strong Communities, Opportunities and Sustainable Solutions
Reached$441.2B
toward $1 trillion sustainablefinance goal since 2020
Pune, India

Volunteered

143,000+
hours across 83 countries
and territories as part of Global
Community Day

Supported the World Bankon a $50 million emission
reduction-linked bond tohelp manufacture and distributewater purifiers for schools in
VietnamIntroduced simplifiedbanking to make banking
more accessible and inclusive
across the income spectrum
and to help U.S. retail banking
customers reach their full
financial potential

Citi 2023 ESG Report

Financed
approximately

Earned a seat at the Billion Dollar
Roundtable by spending

$6.5B

$1B

in affordable
housing projects
in the U.S.

annually with certified diverse
suppliers

Facilitated clean energy access inAfrica, supporting Sun King on a firstof-its kind securitization deal helping tofinance affordable solar systems in Kenya

Ranked as #1 U.S. leadunderwriter for global
sustainable finance bonds in 2023

Provided$25M
to nonprofits working to
improve food security globally
through the Citi Foundation’s
inaugural Global Innovation
Challenge

Celebrated the first
graduating classof Kindergarten to
College — a publicly
funded children’s savings
account program insupport of financial
inclusion that operates
on the Citi Start
Saving® platform

Continued sourcing

100%

renewable electricity
for our operations
and facilities, and achieved
30%–50% reductions in
waste, water and energy use

Celebrated 10 years of
New York City’s Citi Bike®
program, which enabled
339M miles in rides
since its launchHong Kong

Financed and facilitated renewable energy,
green building and energy efficiency
activities under the Sustainable Finance
Goal, estimated to result in over
770,000 metric tons of avoided
greenhouse gas emissions annually

Announced an innovative
sustainable aviation fuel emissionsreduction agreement with American
Airlines to support low-carbon solutions

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ESG at Citi

Integrating Our Approach

Sustainable Finance

ESG Governance at Citi

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Appendices

Stakeholder Engagement at Citi

Citi's mission is to serve as a trusted partner to ourclients by responsibly providing financial services
that enable growth and economic progress. Our
core activities are safeguarding assets, lending
money, making payments and accessing the capital
markets on behalf of our clients.

ESG
at Citi

As a global financial institution, Citi connects
millions of people across countries and cities
worldwide. For more than 200 years, we have beenusing our resources and expertise to help our clientsand communities navigate change and sustain theirbusinesses for the future. We recognize that theeconomic success of our company is inextricably
linked with the well-being and economic health of
our people, our clients and our communities.
We view integrating and managing environmental,social and governance (ESG) issues as an essential
component of our strategy to help increase
innovation, business resiliency, risk mitigationand value generation, and as a pillar of our longterm business success. The same is true for ourclients and communities, and we work to support
both in achieving their goals. These issues create
opportunities for our business and are also
incorporated into our environmental and social risk
management processes.
With this in mind, we have identified topics that
we believe are most important to our business,clients and communities. These include climatechange; sustainable finance; strengthening
communities; financial inclusion and employee
Diversity, Equity & Inclusion — all of which
contribute to our business objectives, as well as
global sustainable development objectives.

New York, New York

Citi 2023 ESG Report

Responsible BusinessOur approach to and progress on these priorities
and other areas of ESG are detailed throughout
this report. We remain committed to transparency
and accountability, and to sharing our progress
and learning along this journey.

Integrating
Our Approach
At Citi, our ESG commitments are integrated
into our businesses and long-term priorities— they are part of the work we do helping ourclients and communities navigate the challenges
and embrace the opportunities of our rapidlychanging world. Across the firm, our teams areprepared to support our clients with services andproducts that help them as they seek to achieve
their goals. This approach is embedded in eachof our five interconnected businesses: Services,
Markets, Banking, Wealth and U.S. Personal
Banking.

Sustainability andClimate Change
Citi has committed to achieving net zero
greenhouse gas (GHG) emissions by 2050. We
made this commitment in 2021 and have since laidout emissions-reduction plans for our financing
by 2023 in six sectors in our loan portfolio: Auto
Manufacturing, Commercial Real Estate, Energy,
Power, Steel and Thermal Coal Mining.
Citi is working on executing our climate
commitments, while engaging our clients andsupporting them as they seek to decarbonize
their businesses. We are advising clients who areinvesting in clean energy technologies, while atthe same time working with clients who are key toglobal energy security and to communities aroundthe world where access to and cost of energy is a
top concern.

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Integrating Our Approach

Sustainable Finance

ESG Governance at Citi

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Stakeholder Engagement at Citi

Recent Awards and Rankings
We are pleased to see our progress on corporate responsibility, sustainable finance and diversity and inclusion recognized externally in 2023 and early 2024.

Corporate Responsibility Awards:

Sustainable Finance Awards:

Points of Light: The Civic 50

JUST Capital: JUST 100 U.S. Companies#1 U.S. Lead Underwriterfor the 11th consecutive year

Named to the list for the fifth
consecutive year, at #5 in 2024

in 2023 for global sustainable financebonds, according to Dealogic

International WELL Building
Institute: WELL Certified Buildings Award

The Banker: Investment
Bank of the Year for
Sustainable Bonds

Asiamoney: Best Bank for
CSR – Singapore

Ranked in the 97th percentile compared to peers

IFR: Americas ESG
Financing House

ESG Investing: Best Bank for
ESG Research
four-time award winner

WELL Concept Leadership

Disability:IN:
Disability Equality Index
Scored 100 out of 100

Military Times: Citi Salutes
Listed as Best for Vets Employer

Health & Safety Leadership
Advancing Health in ESG Leadership
Commitment & Engagement

Human Rights Campaign:
Corporate Equality Index
Scored 100% for the 19th consecutive year

Global Finance Sustainable
Finance Awards
Outstanding Leadership in Social Bonds

Lead Manager of the Year,
Sustainability Bonds – Corporate

Outstanding Leadership in Transition/
Sustainability – Linked Loans

Lead Manager of the Year,
Green Bonds – Corporate

Latin America Sustainable FinanceAward – Mexico: Citibanamex

Lead Manager of the Year,
Green Bonds – Supranational,
Sub-Sovereign and Agency (SSA)

Outstanding Leadership inGreen Bonds – North America

Chief Executives for Corporate
Purpose®: The CEO Force For Good:
Giving in Numbers™
Top quartile

U.S. Chamber of Commerce
Foundation: Citizen
Awards Finalist
Best Corporate Steward Category

Environmental FinanceAwards:Outstanding Leadership in Transition/
Sustainability-Linked Loans – North America
North America Sustainable
Finance Award – U.S.

Affordable Housing Finance:#1 Affordable Housing Lenderin the U.S.
for the 14th consecutive year

Citi 2023 ESG Report

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ESG at Citi

Integrating Our Approach

Sustainable Finance

ESG Governance at Citi

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Stakeholder Engagement at Citi

As countries transition to a low-carbon economy,
Citi continues to support clients and facilitate
the investment and activity that is critical toadvancing the transition while ensuring anample and affordable energy supply to meet theworld’s current needs. That includes advising andfinancing our clients as they seek to decarbonize,
financing climate technologies and working
toward an orderly and inclusive transition.
The low-carbon transition will drive significant
financing and advisory opportunities, andCiti is positioning our business to accessthese opportunities.
At our own sites, we are working to reduce ourenvironmental footprint and reach net zero
emissions by 2030. We have achieved our 100%
renewable electricity sourcing goal and are making
progress toward our energy, water and waste goals.

Diversity, Equity &Inclusion and TalentManagement
We are committed to creating a company thatreflects the diverse communities we serve. This
ensures that we have a multitude of perspectives
to understand our clients’ challenges andopportunities and help them prosper.
We strive to ensure that Citi remains a great place
to work — where people can thrive professionallyand personally. Our commitment to Diversity,
Equity & Inclusion is seen throughout our business,
including Citi and the Citi Foundation’s Action for
Racial Equity initiative to help address the racial
wealth gap.
Our Chief Diversity, Equity & Inclusion Officer andHead of Talent Management oversees our efforts
to promote Diversity, Equity & Inclusion in theCiti 2023 ESG Report

Climate Risk & Net Zeroworkplace. Reporting to the Global Head of Human
Resources, the Chief Diversity, Equity & Inclusion
Officer and Head of Talent Management works inpartnership with senior management, particularly
with members of the Executive Management
Team, who co-chair our Inclusion Networks.

Community Investing
We contribute to building the long-term strengthand resiliency of the clients we serve and thecommunities where we operate. Underlying ourapproach is the notion that complex societal
challenges require multifaceted solutions.
We believe we can play a part in helping toaddress economic and social challenges in
the communities we serve around the world.
By investing in the communities where we
do business, we can help support scalable
advances in financial inclusion, jobs and small
business development, community solutions
and crisis response. The Community Investingand Development (CID) team draws on this workby leveraging a toolkit that uses our business,
people and voice, including equity investing,financial access solutions and expertise,fulfillment of U.S. Community Reinvestment Act
regulatory obligations, volunteerism and Citi
Foundation philanthropy.

ESG
Governanceat Citisustainability, climate change, human rights andother environmental and social issues, as wellas our strategy for engagement with external
stakeholders. For more information on the roles
and responsibilities of this committee, see theNomination, Governance and Public Affairs
Committee Charter.

Good governance is a fundamental principle atCiti, and we aim to incorporate best practices.
We strive to report on our activities with accuracy
and transparency and comply with the laws, rules
and regulations that govern our businesses. Our
corporate governance structures, policies andprocesses promote a culture of accountability
and ethical conduct across our firm.

The Audit Committee has oversight over thecontrols and procedures related to Citi grouplevel ESG and climate-related reporting.
See the Audit Committee Charter for more
information on the roles and responsibilitiesof this committee.

Board of Directors
The Citi Board of Directors has ultimate oversightof our work to identify, assess and integrate
environmental and social-related risks andopportunities throughout Citi, including our
climate-related work and Diversity, Equity &Inclusion and Talent Management efforts. The
Board receives reports from key personnel on our
progress and key issues on a periodic basis.
Standing committees of our Board include:● Audit Committee

CID is an integrated group that works acrossbusinesses and functions at Citi to catalyze positivesocial impact in communities around the world.

● Compensation, Performance Management
and Culture Committee

The Citi Foundation is a separate legal entity
funded by Citi to promote economic progress
and improve the lives of people in low-income
communities around the world. The Citi
Foundation invests in efforts that increasefinancial inclusion, catalyze job opportunities
for youth and reimagine approaches to building
economically vibrant communities.

● Nomination, Governance and Public Affairs
Committee● Executive Committee● Risk Management Committee● Technology Committee
The Nomination, Governance and Public Affairs
Committee receives reports from managementon our activities pertaining to environmental

The Risk Management Committee of the Board
provides oversight of the Citi Risk Management
Framework and risk culture and reviews our
key risk policies and frameworks, including
updates on climate-related topics. For more
information on the roles and responsibilitiesof this committee, see the Risk Management
Committee Charter.
In addition, the Board's Transformation OversightCommittee provides oversight of management’s
remediation of the issues identified in the
October 2020 Consent Orders with the Federal
Reserve Board and Office of the Comptroller of
the Currency. The changes being made throughthe Transformation process will continue toimprove our overall governance processes.
The Global ESG Council provides a senior
management forum for oversight of our
ESG commitments and priorities, including
sustainable finance progress, climate data
governance, updates on progress toward ournet zero financing and operations goals. Council
members also oversee our efforts on Diversity,
Equity & Inclusion and Talent Management.

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Integrating Our Approach

Sustainable Finance

ESG Governance at Citi

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Appendices

Stakeholder Engagement at Citi

Ethics and Business
Practices
We work to serve our clients and maintainthe public’s trust by adhering to the highest
standards of ethical conduct. We ask ourcolleagues to ensure that their decisions pass
three tests: they are in our clients’ interests,
create economic value and are always
systemically responsible. When we do thesethings well, we make a positive financial andsocial impact in the communities we serve.
Ethics and responsible business practices areamong the highest priorities for Citi and our
stakeholders. The Board's Compensation,
Performance Management and Culture
Committee oversees the incentive compensation
structure for senior management at Citi, as wellas management’s efforts to foster and support
the desired culture and promote ethical decisionmaking within the organization. The committee
also oversees efforts to promote diversity andinclusion in the workplace in hiring, retention andstaff development practices at Citi. To learn more
about the responsibilities of the committee, see
the Compensation, Performance Management
and Culture Committee charter.
The Ethics at Citi section of this report provides
more information about efforts to encourage aculture of ethics.

Citi 2023 ESG Report

Responsible Business

Remuneration
ESG-related goals are incorporated into several
executive scorecards, which are key elementsof performance management tied to thedetermination of incentive compensation forthese executives.
Scorecards for multiple members of the
Executive Management team and senior
management include progress on our Net
Zero Plan and target setting, our $1 Trillion
Sustainable Finance Goal by 2030 and climate
risk management.
Certain positions have specific scorecard
elements, for example:● CEO – Driving the delivery of environmental
and social finance under our $1 Trillion
Sustainable Finance Goal; and● Chief Risk Officer, Head of Enterprise
Services and Public Affairs, andHead of Banking – Supporting thedevelopment and operationalization of our
Net Zero Plan and applicable 2030 targets
and driving the delivery of environmental
and social finance under the $1 Trillion
Sustainable Finance Goal.
Moreover, climate change strategy andrisk management performance goals areincorporated into annual goals and performance
review processes for a number of our senior
executives and their teams that are responsiblefor developing and executing our strategies
around climate change. For further detail, please
see the 2023 Citi Climate Report.

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Integrating Our Approach

Sustainable Finance

ESG Governance at Citi

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Stakeholder Engagement at Citi

Stakeholder
Engagement
at CitiCiti embraces an ethos of openness andinclusivity, with an appreciation for diverse
perspectives. We strive to incorporate theinterests of a wide array of stakeholders into
our business, which helps us expand ouropportunities and fulfill our potential. We believethat sharing knowledge and resources can help
us provide the best services and products for ourclients and support the long-term resiliency ofour business.
We hold ourselves accountable to ourcommitments and are transparent with our
stakeholders about the progress we are making.
This table describes the types of activities weundertake to engage with our stakeholders.
Citi had previously conducted an assessment
identifying our most relevant, or “material,”
reporting topics for stakeholders from an ESG
perspective in line with the recommendations of
the Global Reporting Initiative (GRI) framework.
We provided the results of this assessmentin our 2022 ESG Report by topic and key
stakeholder groups. The standards applied forthis assessment considered views of materialitythat differ from the definition of materiality
applied for purposes of complying with SEC
requirements or other emerging regulatory
reporting frameworks. As we work to update oursustainability reporting approach in response to
evolving regulatory obligations, we will share our
updated approach to these assessments in our
future disclosures.

Citi 2023 ESG Report

Climate Risk & Net Zero

Our Approach to Stakeholder Engagement on ESG Topics
Stakeholder GroupHow We Engage

Clients and Customers• Meetings to share our ESG performance and to understand our clients’ approaches to climate change, as well as managing
environmental and social risks• Social media, including our Customer Service X (formerly known as Twitter) handle (@ AskCiti)• Customer satisfaction survey• Citi Blog

Communities• Specialized websites, including our Communities website• Collaboration with community organizations and NGOs on issues relevant to their organizations and our business• Dialogue sessions with community advocates and leaders, civil rights and consumer protection organizations• Employee volunteering events• The Citi Foundation, which provides grants and works with local and national community organizations

Employees• Company intranet, email, mail and meetings• Voice of the Employee surveys• Inclusion Networks and Citi Green Champions• Online training• Performance reviews• Citi Blog

Governments andRegulators• Meetings, briefings, letters, conference calls, hearings, industry association events, public policy forums, public conferences
and convenings• Membership on government councils and committees and industry association boards

Investors• Group calls and meetings (quarterly earnings calls, conferences and Citi-hosted group meetings)• One-on-one meetings to discuss financial performance and ESG issues• Communications through our Investor Relations and Corporate Governance teams

Stakeholder Groups andNongovernmental
Organizations (NGOs)• Working groups• Joint business ventures• Industry groups, roundtables, workshops and events• Ongoing dialogue and collaboration with NGOs to address ESG concerns, fostering transparency and understanding

Suppliers• Meetings, calls, conferences and workshops, Best Practice Speaker Series and emails• Published supplier requirements and principles• Third-party agencies

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Financing the Low-Carbon Transition

Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Sustainable
Finance

At a time of unprecedented pressure andopportunity to address rising environmental andsocial challenges, sustainable finance remains a
critical tool for supporting action on these issues.
Investors, companies and governments alikerecognize the role the financial services sector
can play in mobilizing capital and advising clientsto support their transition to a more sustainable,
inclusive and low-carbon economy.

advancing public-private partnerships to help
enable an orderly and inclusive transition toa low-carbon economy. 3 Across the financial
sector, private equity firms have launchedmulti-billion-dollar transition funds investingin renewable energy, clean technology anddecarbonization efforts, and banks are
ramping up their capacity to support clientsas they navigate the energy transition.

The COP 28 U.N. Climate Change Conference inDubai underscored the need to mobilize much
more capital quickly to close the financing gap
for efforts to help address climate change andother sustainable development goals.

Ongoing macroeconomic headwinds,
geopolitical tensions and regulatory focus,
coupled with increased scrutiny on ESG,
continued to influence the global sustainablefinance market through much of 2023. Yet
despite these challenges and stagnating global
bond issuance overall, the issuance of green,social, sustainability and sustainability-linked
bonds globally, trended upward in 2023. New
issuance volume increased by about 14% to justunder $866 billion. Green bonds were dominant,representing 59% of overall GSSSB issuance.4
Analysts predict the sustainable finance market
could approach $1 trillion in 2024, based onincreasing urgency around the transition to a
low-carbon economy.5

This need for financing represents an opportunity
for both governments and the financial sector
to respond with mobilization of capital. For
example, in 2023, the EU introduced the Green
Deal Industrial Plan for the Net Zero Age, which
provides a framework and billions from existing
EU funds to decarbonize the bloc's economy.1,2
Driven by tax credits in the U.S. federal Inflation
Reduction Act of 2022, investors poured morethan $303 billion into the U.S. clean energy
sector alone in 2023.
Transition finance, or investments to help
decarbonize high-emitting and hard-toabate industries, is viewed as the next multitrillion-dollar opportunity. Governments are

We continue to support clients seeking to invest
in the low-carbon transition, while positioning
our business to access these opportunities. Citi
remained a trusted advisor to debt issuers in 2023,
leading sustainable bond issues across more than

"EU Unlocks $270B for Green Deal Industrial Plan to Boost Net Zero," CarbonCredits.com (Feb. 23, 2023), https://carboncredits.com/eu-unlocks-270bfor-green-deal-industrial-plan-to-boost-net-zero/#:~:text=The%20European%20Commission%20(EC)%20set,the%20U.S.%20Inflation%20
Reduction%20Act.
2"Understanding the Green Deal Industrial Plan: A Comprehensive Introduction to Europe's Net-Zero Age," FiscalNote (Aug. 30, 2023), https://fiscalnote.
com/blog/green-deal-industrial-plan-net-zero-europe#:~:text=The%20Plan%20provides%20a%20framework,achieve%20the%20EU's%20
climate%20targets.
3“What is transition finance, and why it matters,” GreenBiz (Jan. 24, 2024), https://www.greenbiz.com/article/what-transition-finance-and-why-it-matters.
4“The signs are good: the market is warming up for new records,” Environmental Finance (Feb. 20, 2024), https://www.environmental-finance.com/content/
the-green-bond-hub/the-signs-are-good-the-market-is-warming-up-for-new-records.html#:~:text=Without%20doubt%2C%202023%20was%20
a,of%20%24117%20billion%20in%202021.
5“Key 2024 sustainability trends driving the year ahead,” S&P Global (Jan. 15, 2024), https://www.spglobal.com/esg/insights/featured/special-editorial/
key-2024-sustainability-trends-driving-the-year-ahead.
1

Budapest, Hungary

Citi 2023 ESG Report

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Financing the Low-Carbon Transition

Sustainable FinanceSocial Finance in Emerging Markets

299 issuers. Citi was the #1 U.S. lead underwriterfor global sustainable bonds in 2023, and #1
emerging market sustainable bond underwriter in
2023.6 Citi also structured a number of sustainablefinancing frameworks for sovereign, banking,energy, chemicals, power and utilities, cement, realestate and industrials issuers in 2023.

Sustainable Finance
Across Citi
Businesses across Citi provide services to ourclients in support of their sustainability journeys
and the low-carbon transition. This activity
can also contribute to our sustainable financegoal and net zero commitments. Citi continues
to incorporate sustainable finance across our
five core interconnected businesses: Services,
Markets, Banking & International, Wealth andU.S. Personal Banking. The businesses conduct
a wide range of environmental and social
activities. Activities and offerings across thebusiness lines include:

Services (Treasury & Trade Solutions
and Securities Services)
Services provides global solutions that canhelp clients drive their business forward, while
investing in innovation. The businesses provide
an integrated suite of tailored cash management
and trade finance services to multinational
corporations, financial institutions and publicsector organizations. Securities Services
provides cross-border support for clients withextensive on-the-ground local market expertise,innovative post-trade technologies, customized
data solutions and a wide range of securities
services solutions. Please see our website formore information about Services.
6

Climate Risk & Net Zero

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Sustainable Finance Activities: Our Services
business supports clients in understanding how
ESG factors can impact liquidity and working
capital management decisions, including export
and agency finance; green, sustainable and social
trade and working capital loans; sustainablesupply chain finance; sustainable deposit andcash management solutions; and sustainable
commercial cards options.

Markets
Our Markets business provides customized
solutions that support the diverse investment
and transaction strategies of corporations,
governments, investors and intermediaries
globally. Please see our website for more
information about Markets.
Sustainable Finance Activities: Markets
supports our clients and colleagues in
identifying, executing and scaling opportunities
across products, clients and asset classes. The
business provides cross-sector expertise tohelp accelerate the integration of sustainability
into "business as usual" activity and to serve
our clients more effectively when it comes totheir ESG and sustainability objectives. Markets
supports the development of sustainable/ESG

solutions and products, including infrastructure
and project finance solutions, sustainablesecuritization, contract hedging and voluntarycarbon credits trading.

Banking & International
Our Banking franchise is organized aroundthree lines of business: our Investment Bank,
which supports clients’ capital-raising needs
and provides strategic financial solutions to
support mergers and acquisitions and equity
and debt capital markets; our Corporate Bank,
which serves as the conduit for the firm's fullproduct suite to clients; and our Commercial
Bank, which helps mid-sized companies address
the challenges of rapid growth and international
expansion. Please see our website for more
information about Banking.
Sustainable Finance Activities: Our Banking
teams support clients of varying sizes,
across sectors, as they seek to transition
their businesses to a more sustainable andnet zero future. These banking teams apply
deep knowledge of sector-specific transition
strategies to help realize opportunities for clients,
offering advisory services, capital markets andcorporate banking solutions for transactions.

WealthOur wealth management platform delivers acomprehensive solution to clients across thewealth continuum, with integrated advice andexecution, as well as traditional and alternative
investments, managed account strategies,
world-class research and investment guidance.
Please see our website for more information
about Wealth.
Sustainable Finance Activities: Our Wealthbusiness offers managed opportunities,
alternative investments and tailored exposure
to capital markets to help clients pursue
their financial and sustainable investment
objectives. It also provides opportunities forprivate clients to invest alongside our firm’s
institutional clients in sustainable capital
markets transactions. Its offering encompasses
four approaches that seek varied sustainability
outcomes: socially responsible, ESG integration,thematic and impact.

U.S. Personal Banking
U.S. Personal Banking plays an importantpart in delivering on our vision to be a valued
personal bank in our home market by offering
products and services across Branded Cards,
Retail Services and Retail Banking. Please see
our website for more information about U.S.
Personal Banking.
Sustainable Finance Activities: U.S. Personal
Banking continues to expand our offerings tomeet customers’ needs. Last year, Citi introduced
simplified banking, empowering people acrossthe income spectrum with new ways to avoid
Monthly Service Fees and access enhanced Citi
benefits and services.

Per YE2023 Dealogic data.

Citi 2023 ESG Report

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Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Sustainability Thought Leadership by Citi
From carbon markets and ocean health to economic and social mobility, Citi Global Perspectives & Solutions and Citi Research explore challenges and solutions on the path toward achieving the
Sustainable Development Goals. 2023 Citi Global Perspectives & Solutions reports included the following.
Citi Global Perspectives & Solutions:

Voluntary Carbon Market – A Critical Pieceof the Net Zero Puzzle

Sustainable Ocean Economy – Charting a
Prosperous Blue Future from Risk to Resilience

Food, Water, and Climate Change Solutions for Tackling this Critical Nexus

This report describes how the market works, what isbeing done to improve it and steps companies can taketo help them use it effectively.

The report serves as a primer on the business case for ocean
action and engagement.

This report investigates the relationship between food,water and climate change and the impact that water
could have on food production.

Economic and Social Mobility – The Role ofBusiness in Improving OutcomesThis report highlights that employers play a significant
role in improving economic and social mobility, but with amore supportive ecosystem, they could go further faster.

Citi 2023 ESG Report

Unlocking Climate and Development FinanceThis report details that, while facilitating capital flows iswell understood, more bankable and investable projects areneeded to support efforts to combat climate change.

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Financing the Low-Carbon Transition

Sustainable FinanceSocial Finance in Emerging Markets

Financing the
Low-Carbon
Transition
Citi is committed to supporting our clients as theytransition to a low-carbon economy that fosters
equity and creates economic growth, while also
addressing climate change. We believe this work
is non-negotiable for the long-term resiliency
and sustainability of our business, as well as thebroader economy, society and environment. We
seek to support an orderly, inclusive transition
that creates jobs; increases energy stability andsecurity; and helps expand access to energy tofurther support equitable economic growth.
Achieving environmental and social goals willoften go hand in hand, as developing markets
and low- and moderate-income communities are
disproportionately impacted by both lack of accessto energy and the effects of climate change.
The evolution of our energy system hinges
on many dimensions, including public policythat incentivizes investment in clean energy
technologies and critical upgrades to our electricgrids, transmission systems and permitting
processes to catalyze deployment of more
projects. Access to stronger data also remains achallenge, and obtaining such data allows us toanalyze climate risk impacts, measure results andidentify transition opportunities.
Many players across the private and public
sectors will have to work together, and there
are important co-dependencies, such as anenabling policy environment and technologicaldevelopment. But we believe that capital

Citi 2023 ESG Report

Climate Risk & Net Zero

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

markets and financing will play a critical role in
the low-carbon energy transition.
Engaging with our clients to support their energy
transition efforts is fundamental to our net zerocommitment and how we are working to financethe low-carbon energy transition. As part of theregular and ongoing transition conversations wehave with clients, we are discussing the specificsof their transition plans, including pathways toachieve those plans and the metrics they areusing to assess their progress. Most importantly,
we are trying to understand how we can support
their efforts. While our net zero targets focus
on mitigating exposure to climate risk andsupporting clients in their emissions-reduction
efforts, our $1 Trillion Sustainable Finance Goalby 2030 contributes to climate solutions. As
we navigate the practicalities of helping clients,
industries and countries transition, Citi is
positioning our business to access opportunities
created by this energy shift.

Social Financein Emerging
Markets
Supporting the resilience of global communities
through social financing includes financing
activities that support access to affordable basic
infrastructure, affordable housing, diversity
and equity, economic inclusion, education,
food security and healthcare. Billions ofpeople around the world lack access to basic
necessities — clean water, education, electricity,
financial products, housing and medicine —Investing in LowIncome Households
As part of our social finance focus, we areaiming to invest in opportunities for 15 million
low-income households globally, including
10 million women, by 2025. In total from2021–2023, through our financing, Citi provided
more than 11.6 million low-income households,
including an estimated 5.5 million women
worldwide, with access to essential goods
and services in emerging markets.

which significantly hampers their economic
progress and social growth. Globally across Citi
businesses, we provide platforms and client
solutions that enable our clients and partners
to expand financial inclusion, accelerate accessto basic services, boost job creation and scalesocial infrastructure development in emerging
markets. We leverage our firm’s local expertise,balance sheet and access to global markets
to mobilize capital, with the goal of providing
support to social enterprises and small
businesses in these communities to accelerate
and optimize their work.

our work with development finance institutions,
impact investors and private-sector clients.
This work to support emerging markets
complements our social finance activities inhigher-income countries, including our work tofinance affordable housing projects in the U.S.
and to underwrite bonds that help advance a
range of social solutions.

We have taken steps to enhance and expand how
we work internally to strengthen external impact.
For example, we have established a network ofbankers focused on transactions in 26 emergingmarket countries and increased internal training
and impact measurement. We have also extended

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Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Supporting
Affordable
Housing
Our efforts focus on financing affordable housing
for residents in urban and suburban areas withlow and moderate income in an effort to ease
the affordable housing crisis in the U.S. We
offer a range of housing finance solutions to
help affordable housing developers construct,rehabilitate, refinance and acquire affordable
multifamily housing across the country.
Citi Community Capital, the bank unit throughwhich we finance all types of U.S. affordable
housing and community development projects,
reported approximately $6.5 billion of lending
to finance affordable rental housing projects in
2023. This activity contributes to our $1 Trillion
Sustainable Finance Goal.

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

2023 Affordable Housing Impact
U.S. Affordable Housing Financed Through Citi Community Capital

1,642
Buildings
Financed

$6.5B

228

Volume Lent
for Affordable
Housing

Green Buildings

110With Certifications

509

$585M

Projects Closed

129

135 New Construction

Clients Served

34

84 Rehab Construction
9 Balance Sheet Acquisition

Equity Invested
in Affordable
Housing

Statesand Permanent

152

With Green Features

Cities

Housing
Types

35,799Total Units
Financed

32.6M
Square Feet
* AMI = Area Median Income.

Citi 2023 ESG Report

Appendices

Our $1 Trillion Goal

In fact, for 14 consecutive years, Citi has been
the #1 affordable housing lender in the U.S., asreported in Affordable Housing Finance.
At Citi, being a leader in the affordable housing
industry includes making debt and equity capital
available to expand the U.S. affordable housing
supply and being an innovator and market leader.
Over the past several years, we have worked withour clients to find new ways to lower the cost ofbuilding housing and to increase the supply of
housing for our most vulnerable populations.
For example, Citi was among the first banks toprovide construction loans to projects using
modular, or factory-built, housing.

Responsible Business

34,300Affordable<80% AMI*
1,499
Moderate
Income>80% AMI

19,240Affordable (Noother restriction)
10,400Seniors
2,101
Rental Assistance
Demonstration (RAD)2,094
Formerly Homeless217
Special Needs
248
Veterans

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Financing the Low-Carbon Transition

Sustainable FinanceSocial Finance in Emerging Markets

Our $1 Trillion
Goal
At Citi, we are supporting the growth of scalable
financial solutions to address environmental
and social challenges. We set a goal to reach$1 trillion in sustainable finance by 2030, financing
and facilitating activity that is compatible with
the U.N. Sustainable Development Goals (SDGs).
We continue to make progress on this goal byfinancing activities that reflect environmental andsocial priorities globally. In 2023, we supported
the issuance of green and sustainable bonds,
mobilized funding for clean drinking water in
Vietnam, advanced affordable renewable energy
in Kenya and helped to provide affordable housing
in the U.S.
Over the past four years, we are proud to havefinanced and facilitated $441.2 billion toward
our $1 Trillion Sustainable Finance Goal.
Products and services contributing to this goal
include financing and advisory services to help
companies achieve their sustainability strategies;
green, social and sustainable bonds; sustainablesupply chain finance; sustainability-linked
lending and investments; and sustainabilityfocused mergers and acquisitions.
The transactions that are counted toward the$1 Trillion Sustainable Finance Goal include
environmental solutions and activities thatfurther accelerate the transition to a low-carbon
economy, such as renewable energy, sustainabletransportation and sustainable agriculture andland use. To help address critical social issues,
our goal includes financing in education, economic
inclusion and food security. (For a full list of focus
areas, see $1 Trillion in Sustainable Finance Goalby 2030.
Citi 2023 ESG Report

Climate Risk & Net Zero

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Delivering on our sustainable finance goal is an
integrated effort across our organization. Many
Citi businesses — including Services, Markets
and Banking — are delivering products andservices that can support sustainable financeand global sustainable development goals. Our
unique mix of global and local expertise across awide range of industries means that we are able
to meet our clients where they are and help themto advance their sustainability efforts.

Tracking
Our Progress
For activity that we finance or facilitate to counttoward the $1 Trillion Sustainable Finance Goal,
it must meet at least one of the environmental orsocial finance criteria. These criteria are informedby evolving external standards.

such as greenhouse gas (GHG) emissions
avoided, renewable energy capacity added, jobs
supported and people benefited.
In 2023, we continued to see investmentbanking reflect the largest contribution
toward the $1 Trillion Sustainable Finance
Goal, and renewable energy-related activity
continued to be a major driver of our progress,
including client activity enabled by the U.S.
federal Inflation Reduction Act. We also saw
year-over-year growth in thematic bondunderwriting, and our Services businessactivity increased as well, primarily in export
agency finance and sustainable supply chain
finance. There was a decline in sustainability-

linked lending and M&A contribution, reflecting
lower volumes in the market, and Citi closed
our municipal underwriting business at theend of 2023.
We are seeing consistent sustainable financeactivity that meets multiple sustainability
criteria and results in both environmental
and social impact, as well as increasing focus
on financing solutions to help our clients intheir energy transitions. Overall, we remaincommitted to advancing sustainable financeactivity and continue to be on track to achieve
our target of financing and facilitating $1 trillion
by 2030.

An eligible transaction may meet multiple
criteria, but would only be counted once toward
our $1 Trillion Sustainable Finance Goal. Becauseof the interconnected nature of sustainablefinance, we see a number of transactions thatdeliver both environmental and social benefits.
We track our sustainable finance activities using
third-party financial league table credit, whereapplicable. The industry league tables track
public financial activities and rank financial
institutions based on their role (e.g., leadarranger, bookrunner) in each transaction.
When arranging financial products or structures
for which there are no league tables, we countthe amount that reflects our firm’s financial
involvement in the deal. Beyond counting thefinancial credit, we also calculate the estimatedenvironmental and social impacts associatedwith a subset of activities where feasible,

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Climate Risk & Net Zero

Sustainable Finance

Financing the Low-Carbon Transition

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

$1 Trillion in Sustainable Finance by 2030
Our $1 Trillion Sustainable Finance Goal aims to further the transition to a sustainable, equitable, low-carbon economy that supports society’s
environmental, social and economic needs. We announced the goal, with the intention of reaching it through a combination of environmental andsocial finance activities that are compatible with the U.N. SDGs.

Measuring the Impactof Our Sustainable
Finance Goal

Sustainable Finance
Goal Progress

Environmental Criteria*$1Tby 2030
Circular
Economy

Clean
Technology

EnergyEfficiency

Green
Buildings$750B
Renewable
EnergySustainable
Agriculture andLand Use

Sustainable
Transportation

Water Quality andConservation

Social Criteria*

Affordable Basic
Infrastructure

Affordable
Housing$500B

Diversity& Equity$441.2B
Total since 2020
$250B

We take a conservative approach to estimating
impacts, only including deal activity for which
reasonable methodologies and data sources
are available, and excluding deals for which
we have limited transparency and details.
We consider impact measurement an area of
ongoing education and improvement.
We estimate that since 2020, our sustainablefinancing activity has resulted in:~6M

metric tons of GHG avoided as aresult of our renewable energy,
green affordable housing andenergy efficiency financing
activities

2.6M+
jobs supported

Economic
Inclusion

Education

Food
Security

Healthcare$0
See our detailed goal data

61M+

people worldwide benefiting* An eligible transaction may meet multiple criteria, but would only be counted once toward the $1 Trillion Sustainable Finance Goal.

Citi 2023 ESG Report

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ESG at Citi

Financing the Low-Carbon Transition

Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

In billions USD%

Total
Progress

Total %

$ 377.1

85%

Banking
Investment Banking$ 69.775%

Responsible Business

Appendices

2023

%

Total
Progress

Total %

Circular Economy

$ 0.1

0%

$ 2.9

0.7%

Clean Technology

$ 1.6

2%

$ 4.7

1%

Energy Efficiency

$ 4.4

5%

$ 8.5

2%

Green Buildings

$ 4.3

5%

$ 8.6

2%

Renewable Energy$ 14.015%$ 57.913%

Sustainable Agriculture and Land Use

$ 0.2

0%

$ 1.0

0.2%

Sustainable Transportation

$ 5.4

6%

$ 85.219%

Water Quality and Conservation

$ 1.5

2%

$ 7.6

2%

$ 27.730%$ 121.7

28%$ 59.364%$ 298.2

68%

Sustainable Finance Criteria

Financial Data*
2023

Diversity & Talent

Our $1 Trillion Goal

$1 Trillion Sustainable Finance Goal

Business

Building Equitable & Resilient Communities

Mergers and Acquisitions$ 10.5$ 108.0

Debt Capital Markets$ 50.1$ 216.6

Thematic Bonds(Green, Social, Sustainable)$ 32.4$ 130.3

Sustainability-Linked Bonds$ 2.3$ 10.1

Sustainability-Linked Loans$ 14.2$ 72.4

Affordable Basic Infrastructure

$ 0.2

0%

$ 1.3

0%

Green, Social and Other Loans

$ 1.1

$ 3.7

Affordable Housing††

$ 7.1

8%

$ 37.28%

Equity Capital Markets$ 1.8$ 10.3

Diversity and Equity

$ 0.0

0%

$ 0.6

0%

Municipal Underwriting$ 7.3$ 42.1

Economic Inclusion

$ 1.2

1%

$ 9.1

2%

Education

$ 0.6

1%

$ 9.0

2%

Food Security

$ 0.3

0%

$ 0.9

0%

Corporate Lending**$ 11.112%$ 46.2

Environmental: Multiple†

Total Environmental

10%Services$ 10.611%$ 13.6

3%

Healthcare

$ 0.4

0%

$ 7.4

2%

Markets***

$ 1.2

1%

$ 4.1

1%

Social: Multiple†

$ 4.9

5%

$ 14.83%

Corporate/Other (Citi Investments)

$ 0.0

0%

$ 0.2

0%

Total Social$ 14.716%$ 80.5

18%

Total

$92.7

100%

$441.2100%

Environmental and Social†††$ 18.720%$ 62.4

14%

Total

$92.7

100%

$441.2

100%

Treasury and Trade Solutions

Geographies † † † †

2023

%

Total
Progress

Total %

North America$ 40.544%$ 220.850%International$ 52.256%$ 220.3

50%

Total

$92.7

100%

$441.2

100%

Citi 2023 ESG Report* Figures may not sum to totals due to rounding.
** "Corporate Lending” includes, but is not limited to, financing and securitization for clean energy finance, asset-based finance, community capital(affordable housing), project finance, commercial real estate finance, commercial banking and other lending.
*** “Markets” includes, but is not limited to, commodities transactions that meet renewable energy criteria and other fixed-income transactions such asprivate placement of green bonds, notes or repurchase agreements.
†
Denotes activities falling under multiple environmental or social criteria, including green or social bond transactions where the issuer’s frameworkcomprises multiple eligible categories.
††“Affordable Housing” includes, but is not limited to, projects financed through our U.S. community capital/affordable housing lending business.
†††
Refers to transactions that met both environmental and social finance criteria.
††††
This data table is organized to show our simplified geographic management structure. Geographies outside of North America (U.S. and Canada) arenow consolidated under International.

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Financing the Low-Carbon Transition

Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

$1 Trillion Sustainable Finance Goal
Impact Data*
The reporting on our progress toward our $1 Trillion Sustainable Finance Goal by 2030 includes measuring the estimated environmental and social impacts associated with contributing sustainable finance activities financed andfacilitated by Citi, where feasible. Our impact measurement methodologies align with our goal-tracking approach, reporting our share of the impacts proportional to our financial share of the transaction. Estimated impact figures
are based on available data from the project or client. For financed or facilitated activities where it was not feasible to estimate impact due to limited data availability, impacts have not been included.

Environmental Impacts (in thousands)

2023

Total

1) Avoided greenhouse gas emissions (mt CO2e)

778

5,997

From renewable energy projects

775

5,417

From green buildings and energy efficiency projects

35802) Renewable energy production and storage capacity added (MW)1

4From renewable energy projects

1

4

From battery storage projects

0.1

0.1

Social Impacts (in thousands)

2023

Total

3) Total people impacted

21,057

61,072

From microfinance lending, basic infrastructure, basic digital device, education and other social purposes‡,‡‡

5,821

9,209

Through renewable energy projects

1,837

5,208

From affordable housing projects

123

401

From education, transit system, utility improvement and economic development projects financed by U.S. municipal bonds

13,27546,2534) Total jobs supported

571

2,624

From microfinance lending, basic infrastructure, basic digital device, education and other social purposes ‡,‡‡

508

2,367

Through renewable energy projects

12

31

Through green building projects†††

7

7

From affordable housing projects††††

36

172

From education, transit system, utility improvement and economic development projects financed by U.S. municipal bonds

947* Figures may not sum to totals due to rounding.
‡
For micro-finance lending, basic infrastructure, home solar systems, and other social purposes, the number of people impacted typically equals the total number of jobs supported where data was sufficient.
‡‡
Other social purposes includes provision of cellphones, clean carbon cookstoves and access to telecoms or other basic services.
‡‡‡
Jobs supported through green building projects include those from affordable housing projects financed through Citi Community Capital.
‡‡‡‡
Jobs relating to municipal affordable housing bonds, including financial counseling, are reported under jobs supported from affordable housing projects.

Citi 2023 ESG Report

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Financing the Low-Carbon Transition

Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Impact Calculation Methodology Summary
To estimate the environmental and social impacts of Citi-financed and -facilitated projects and activities, weconsidered at the following metrics:• Avoided GHG emissions are the estimated amount of GHG emissions avoided attributable to our share offinancing for relevant projects, where data was available. This is calculated by applying regional electric gridfactors to the bank’s share of financing across three types of activities, including a low-carbon source replacing
energy use from the grid, energy efficiency upgrades and green housing units that are green building-certified.
Impacts reflect the per annum benefit as opposed to the benefit over the entire project life.
• For renewable energy projects, total project capacity for energy is calculated as the annual capacity factor
applied to the total project size per annum and multiplied by the CO2 emissions factor.
• For energy efficiency upgrades, the average household energy savings is calculated as the average
household energy use multiplied by the percentage of energy savings per thousand U.S. dollars invested.
The result is multiplied by the total financing value and the CO2 emissions factor.
• For green buildings, energy savings is equal to the average energy use of a building that is not green
building-certified (e.g., via LEED or EDGE certification) per square foot multiplied by the percentage ofenergy savings by a green building-certified building for the appropriate size of building. The result is
multiplied by the number of square feet and the per-square-foot CO2 emissions factor to get total avoided
GHG emissions.
• Renewable energy capacity added refers to the size of new renewable energy capacity installed attributable tothe bank’s share of renewable energy project financings.
• People impacted refers to an estimated number of people who directly benefit from the use of Citi-financed
lending, facilitated activities or underwritten financing proceeds for small businesses, renewable energy andenergy efficiency projects, affordable housing and underwritten municipal bond proceeds for transit, water, utility,
economic development, social services provision and community centers, healthcare and education projects
reported by the client.
• For microfinance, smallholder farmer, basic digital device and other social purpose lending activities inemerging markets, people impacted is equivalent to the number of entrepreneurs, small farm holders andindividuals receiving loans as self-reported by Citi clients and proportional to our share of financing. For
larger telecoms providing access to households, people impacted refers to households enabled with digitalaccess or access to mobile phones by the client in the country supported by Citi financing. For larger water
treatment projects, people impacted refers to the number of households benefiting from the constructionof new utilities as self-reported by Citi clients. For home solar and renewable energy projects, people
impacted refers to the number of households benefiting from access to renewable energy as self-reported
by Citi clients. For food security, people impacted is equal to the estimated number of people in households
supplied with one year of staple food product based on annual dietary requirement data.

Citi 2023 ESG Report• For renewable energy projects and energy efficiency finance, people impacted is equivalent to the numberof people whose annual energy usage is supplied by the project. Estimated renewable energy generation
annually due to Citi financing is divided by average energy consumption per capita in the country of the
project, to estimate the number of people impacted.
• For affordable housing in the U.S., the number of people impacted is calculated using external reference dataon average household size multiplied by the number of housing units constructed.
• For municipal bond financing related to education projects, people impacted is estimated as the number ofenrolled school children benefiting from new or repaired school buildings or purchases of equipment. External
education data on average student enrollment by school, and the number of schools benefiting from funding
as stated in issuance documents, was used for this calculation. For municipal bond financing related to water,
utility and flood risk improvement, people impacted is estimated as the share of a municipality’s population
benefiting from improved utility facilities. For financing related to financial counseling before the purchaseof housing, people impacted refers to the number of individuals directly receiving financial counseling.
For municipal bond financing related to maintenance of transit systems, people impacted refers to annual
ridership across the system divided by the number of average trips per user in a year. For municipal bondfinancing related to healthcare projects, people impacted are those benefiting from the use of hospital beds
in a given year, based on the National Institute of Health’s (NIH’s) estimation of average hospital stay days.
• Direct jobs supported refers to the number of jobs supported by the uses of Citi-financed lending, facilitatedactivities or underwritten municipal bond proceeds. Jobs supported are related to the bank’s share of new
financing for the projects. For microfinance lending, jobs supported are equal to the number of entrepreneurs
and smallholder farmers who received loans. For projects involving new construction or maintenance and repairof affordable housing units, renewable energy generation, schools, transit or water systems in the U.S., jobs
supported are calculated as Citi-financed or -facilitated expenditures divided by output per worker, supplied by
the IMPLAN economic modeling system. For projects involving renewable energy generation in locations outside
the U.S., external data is used to estimate the share of project cost involving installation (labor), and this is divided
by average compensation of workers in the country, to estimate the number of jobs supported.

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ESG at Citi

Financing the Low-Carbon Transition

Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Our $1 Trillion Goal in Action
Over the past year, our sustainable finance activity has helped support the expansion of access to energy, economic inclusion, access to clean water and other basic infrastructure. The following are
examples of finance transactions from 2023 that contributed to the $1 Trillion Sustainable Finance Goal. Note that the icons indicate which goal criteria each project supports, using the key on page 16.

Supporting Water Purification and Emission
Reductions in Vietnam

Expanding Value in the Solar Industry

Our Role: Arranger and sole underwriter on a first-of-its-kind emission
reduction-linked bond, as well as offtaker of verified carbon units

Our Role: Placement agent in tax credit transfer of up to $700 million to help
monetize renewable energy advanced manufacturing incentives$50M bond will finance a project expected to distribute approximately
300,000 water purifiers to about 8,000 schools and institutions7

The transfer highlights the opportunity for more corporations to benefit
from incentives in the Inflation Reduction Act (IRA)

Citi supported the World Bank in issuing a first-of-its kind, $50 million emission reduction-linked bond in 2023.
With the bond, investors are able to support the upfront financing required to manufacture and distribute water
purifiers and will receive semi-annual coupon payments linked to the issuance of Verified Carbon Units, each
representing a reduction or removal of 1 metric ton of carbon dioxide equivalent (CO2e), from a water-purification
project in Vietnam. The project aims to minimize the traditional use of biomass or fossil fuels to boil drinking
water and purify it. Distribution of the water purifiers is expected to make clean water available to about 2 million
children across thousands of schools and institutions in Vietnam and reduce CO2e emissions by almost 3 million
metric tons over the bond’s five-year duration. The bonds were a chance for institutional investors to directly
support a project with the goal of positive climate and community impact.

First Solar, a leading U.S. photovoltaic solar modules manufacturer, has generated significant tax credits from the
manufacture and sale of solar cells, wafers and modules at its plants in the U.S. In December 2023, Citi acted as
the placement agent for First Solar on a tax credit transfer of up to $700 million to help monetize these credits.
The transaction, signed just eight days after the issuance of the U.S. Department of Treasury and Internal Revenue
Service’s implementation guidance on Section 45X tax credits from the IRA, was believed to be the first significant
credit transfer of its kind in the solar manufacturing industry.

For its innovative structure, the transaction was selected as a 2023 Finalist for the 25th Platts Global EnergyAwards and was named Environmental Finance's impact project/investment of the year for climate. The project
was originated by Citi, which acted as arranger and sole underwriter on the bonds. Citi has supported the WorldBank in growing its Outcome Bond program over the past few years, including through this transaction, as wellas similar bond innovations to support wildlife conservation and plastic collection.
7

Citi has been following the implementation of the IRA and recognizes it will allow a larger group of clients to accessrenewable tax incentives than have done so in the past. Citi utilized its broad experience in the renewable energy
tax credit space to highlight the opportunity for more clients to access the incentives in the IRA, which allocatesmore than $369 billion toward tax credits for renewable energy development and eligible U.S.-based advanced
manufacturing. Transferability offered the manufacturer a quick path to access capital at an attractive low cost,
aiding the growth of its manufacturing business, while also helping the purchaser of the credits generate asignificant after-tax return and achieve its ESG goals.

“Emission Reduction-Linked Bond Helps Provide Clean Drinking Water to Two Million Children in Vietnam,” (Feb. 14, 2023), The World Bank,
https://www.worldbank.org/en/news/press-release/2023/02/14/emission-reduction-linked-bond-helps-provide-clean-drinking-water-to-two-million-children-in-vietnam.

Citi 2023 ESG Report

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ESG at Citi

Financing the Low-Carbon Transition

Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Broadening Access to Off-Grid Solar in Kenya

Expanding the Supply of Apartments for
Low-Income Residents

Our Role: Arranged and structured the scalable loan instrument

Our Role: Provided construction and permanent financing$130M securitization structure expedites access to reliable energy for
Kenyan families and businesses8

LEED Gold-certified green development adds 270+ affordable housing
units in California

The off-grid solar energy company, Sun King, and Citi established a first-of-its kind securitization transaction
designed to expedite access to financing for affordable off-grid solar systems for those who cannot access or afford
traditional electric grid connections.

The production of new housing has not kept pace with demand, driving up rents and making it harder for people
at the lower end of the income spectrum to find a suitable place to live. The problem is particularly acute inhigh-cost states like California, part of the reason that so many people are unhoused. Citi provided a $105 million
construction loan and a forward commitment permanent loan for our client, Chelsea Investment Corporation, tobuild Harrington Heights in downtown San Diego, which will provide 273 units of rental housing for low-income
tenants, including 75 units for veterans and others experiencing homelessness.

The four-year deal, arranged and structured by Citi with participation from leading development finance institutions
and commercial lenders, injects $130 million into Kenya’s off-grid solar energy sector.
T​​ he transaction builds on Sun King’s new​Moody’s-rated​Sustainable Financing Framework and is structured
around credit Sun King extends to its Kenyan customers to pay for solar products in affordable installments.
Customers’ future payments for solar products bought on credit will be securitized and funded by investors,
increasing access to financing for solar through support for unbanked and underbanked customers across Kenya,
while also raising funding for Sun King’s future growth and expansion. ​​​8

Building Equitable & Resilient Communities

Harrington Heights will have Gold Certification from the LEED green building rating system. The nonprofit
Alpha Project for the Homeless will provide on-site case management services for residents, as well as adulteducation and skills-building classes, such as English as a second language, job counseling, and health andwellness workshops.

“ Sun King and Citi Close First $130 Million Securitization to Broaden Access to Finance for Off-Grid Solar in Kenya,” (May 30, 2023), Sun King, https://sunking.com/solar-news/sun-king-and-citi-close-first-130-million-securitisationto-broaden-access-to-finance-for-off-grid-solar-in-kenya/.

Citi 2023 ESG Report

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ESG at Citi

Financing the Low-Carbon Transition

Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Supporting Growth of Green
Hydrogen

Financing U.S. Clean Energy
Projects

Increasing Electric Vehicle (EV)
Production in Mexico

Our Role: Acted as one of the two joint global
coordinators that led the initial public offering(IPO) of Thyssenkrupp Nucera, a supplier ofhigh-efficiency electrolysis plants for the
production of green hydrogen

Our Role: One of 29 lenders participating in
AES’ U.S. Renewables business $3.0 billion
construction warehouse loan credit facility

Our Role: Provided green financing as green
loan coordinator, lender and facility agent

The IPO produced gross proceeds of about€526 million (~$574 million) to fund further
growth of the business9
This former joint venture between Thyssenkrupp AG and Italy’s
De Nora SpA, which was listed on the Frankfurt Stock Exchange in
July, supports the development of green hydrogen, generated fromrenewable sources like solar and wind, and is viewed as a potential
means of decarbonizing hard-to-abate industries like steel andchemicals. Proceeds from the offering are expected to be invested in
global growth of Thyssenkrupp Nucera’s hydrogen business, including
automation and serial fabrication, strengthening and widening of the
supply chain, technology development and organizational growth.

AES expects the credit facility to financemore than 3 gigawatts of new clean energy
over 12 months10
This non-recourse revolving credit facility will allow AES' U.S.
Renewables business to finance the construction of long-term
contracted solar, wind, solar plus energy storage and energy storageonly projects in its pipeline. At the time of the transaction, theportfolio consisted of 40 solar, wind and storage projects in 14 states.
The transaction supports financing capacity based on transferability
provisions of the federal Inflation Reduction Act of 2022. Since 2016,
Citi has supported and provided several financings for AES' U.S.
Renewables business, which has a diversified operating portfolio ofwind, solar and storage projects across the U.S.

Green loan provides $160 million in eight-year
long-term financing for Sungwoo Hitech toexpand its automotive parts manufacturing
plant for hydrogen EVs.
To provide a tailored financing solution for Sungwoo Hitech, avendor and supplier for major automotive companies, Citi structured
a $160 million long-term facility with 100% insurance cover from
K-SURE, the Korean Export Credit Agency. The loan is part of a$300 million overseas investment by Sungwoo Hitech, a South
Korean-based manufacturer of batteries and hydrogen-storage
devices for vehicles, to expand production capacity at its
manufacturing plant in Nuevo Leon, Mexico.11 The expansion addresses
the increasing demand from major buyers in the EV market. The parts
manufacturer expects the investment to create 1,500 new jobs.12“Thyssenkrupp successfully floats hydrogen business on stock exchange,” (July 7, 2023), Thyssenkrupp, https://www.thyssenkrupp.com/en/newsroom/press-releases/pressdetailpage/thyssenkrupp-successfully-floats-hydrogen-business-on-stock-exchange-227593.
“AES Increases Green Financing to $2.7 Billion to Support Construction and Operations of Clean Energy Projects in the U.S.,” (June 29, 2023), AES Corporation, https://www.aes.com/aes-increases-green-financing-to-2.7-billion.
11“South Korea’s Sungwoo Hitech to double capacity in Mexico with $300 million,” (May 19, 2023), SteelOrbis, https://www.steelorbis.com/steel-news/latest-news/south-koreas-sungwoo-hitech-to-double-capacity-in-mexico-with-300-million-1290876.htm.
12
“Sungwoo Hitech confirms investment in Nuevo León to create hydrogen automotive technology,” (May 22, 2023), ProMexico Industry, https://www.invest.mexicoindustry.com/en/article/sungwoo-hitech-confirms-investment-in-nuevo-len-to-create-hydrogen-automotive-technology.
910

Citi 2023 ESG Report

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ESG at Citi

Financing the Low-Carbon Transition

Sustainable Finance

Climate Risk & Net Zero

Social Finance in Emerging Markets

Sustainable Operations

Supporting Affordable Housing

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our $1 Trillion Goal

Financing Green Railway
Investments

Enabling a Sustainable
Supply Chain

Supporting Alternative Protein
Solutions

Our Role: Acted as the sole agency
coordinator, joint mandated lead arranger(MLA), agent and lender

Our Role: Supply chain finance provider

Our Role: Lender

Sustainable supply chain finance program
incentivizes suppliers to reduce greenhousegas emissions

Provided letter of credit to the EVERY
Company, a food tech ingredient company,
to support its operations and growth

Citi and the European Bank for Reconstruction and Development(EBRD) jointly supported the rollout of a sustainable supply chain
finance program for Finnish technology and services company
Metso and its suppliers in Turkey, the majority of which are small andmedium-sized enterprises (SMEs).

The EVERY Company, the developer of the world's first animalfree egg protein and pepsin, brings innovative products to themarket, ranging from baked goods to beverages. Using precision
fermentation, the company has created an alternative to conventional
animal products, lessening land and water use alongside greenhousegas emissions.

€500 million (~$540 million) in financing will
help Kazakhstan’s national rail company tofund green capital expenditure projects andrealize its low-carbon pathway strategy
Citi announced the successful closing of a €500 million (~$540 milllion)
financing for National Company Kazakhstan Temir Zholy JSC (KTZ) tofund green capital expenditure projects related to electric locomotives
and the rehabilitation of railway tracks. The financing will benefit from
a 95% guarantee from the Multilateral Investment Guarantee Agency(“MIGA”), a member of the World Bank Group. KTZ is Kazakhstan’snational rail company, which operates rail tracks across the country andrail services across passenger and freight transportation. The company
plays a critical role in the national and regional transport system aswell as trade between Asia and Europe, providing alternative access tocompanies operating in the region. With our final hold of €250 million(~$270 million), the transaction will allow KTZ to expand its fleet ofelectric locomotives and cars in the freight and passenger segments,
overhaul and repair its existing railway track network, and invest in otherrelated infrastructure projects to improve the overall network efficiency.

Citi 2023 ESG Report

Metso’s supply chain finance program in Turkey — administered by Citi
— will support eligible suppliers based in the country, providing themwith access to affordable working capital finance.
This program will benefit from grant funding from the Turkey-EBRD
Cooperation Fund, which will be used to incorporate an outcomebased incentive that delivers financial rewards to suppliers formeeting predefined emissions-reduction targets. This is expected tosupport their transition to greener operating models, contributing to
Metso’s ongoing efforts to decarbonize its supply chain.

Citi leveraged its expertise in working with disruptive industry players
to identify and support the operating expenses of a growing company
that aims to redefine protein and transform the global food system.

Note: This transaction meets multiple criteria.

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ESG at Citi

Our Net Zero Commitment

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Appendices

Our Approach to Managing Climate Risk

Climate Risk
and Net Zero

Citi is exposed to numerous climate risks, given
our role as one of the largest financiers of the
global economy, including carbon-intensive
industries. This means that as we address andmitigate risks, we must consider how we willprotect and strengthen our business whiletransitioning to a low-carbon economy.
We prioritize consistent reporting about ourprogress and approach in relation to climate
risk and have disclosed climate-related metrics
and targets for our sustainable finance activities
and our operations for well over a decade. Our
reporting includes our strategic approach,
our use of voluntary global standards andframeworks, and the continued evolution of
our Environmental and Social Risk Management(ESRM) Policy in response to the changing
risk landscape.

Our Net Zero
Commitment
Citi has committed to achieving net zero
greenhouse gas (GHG) emissions by 2050. Since
announcing our net zero commitment in 2021,
we have outlined a Net Zero Plan and establisheda number of interim 2030 targets for selectsectors of our portfolio. See our annual climate
reports for details, including a discussion of themethodologies we use to set our interim targets.
For our own operations, we are targeting net
zero GHG emissions by 2030. Learn more in the
Sustainable Operations section.

Citi 2023 ESG Report

Responsible BusinessParticipation in
Organizations That
Support Net Zero
Citi is a member of multiple voluntaryindustry groups that enhance ourunderstanding of climate-related issues.
These groups include:• The Glasgow Financial Alliancefor Net Zero (GFANZ) and Net Zero
Banking Alliance (NZBA)• The Rocky Mountain Institute (RMI)
Center for Climate-Aligned Finance• The Partnership for Carbon
Accounting Financials (PCAF)

Read More About Our ClimateRelated Disclosures
We provide more detailed climate-related
disclosures in our annual climate reports,
which are informed by the Task Force on
Climate-related Financial Disclosures(TCFD) recommendations across thefour pillars of Governance, Strategy, Risk
Management, and Metrics and Targets.
These reports describe how Citi identifies
and manages climate-related financial risks
and opportunities, and provide an update on
progress toward our net zero commitment.

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ESG at Citi

Our Net Zero Commitment

Sustainable Finance

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our Approach to Managing Climate Risk

Our climate risk and net zero work are related andreinforce each other. Whereas our climate risk
work focuses on the identification, measurement
and management of key risks arising from climatechange, our net zero work focuses on our impacts
on the climate, achieving our net zero emissionsreduction targets, and supporting our clients inenabling the energy transition, which also helps
reduce risk. There are common links between
the two workstreams. For example, both rely oncommon data elements such as GHG emissions
and a better understanding of our clients’ climatechange mitigation, adaption and/or transition
plans. Additionally, risk management tools canhelp us achieve our net zero goals, and our Net
Zero Plan can drive risk mitigation, particularly forcredit, strategic and reputational risk.
To achieve our net zero commitment, we will needto engage with new and existing clients at varying
stages of transformation in their strategies
and goals, as they navigate the transition to a
low-carbon economy. See our annual climate
reports for more about our engagement acrossstakeholder groups.

Our Approach
to Managing
Climate Risk
Our Risk Management function is responsible for
identifying, measuring, managing, controlling
and reporting risks to the company. Citi
continues to view climate risk as a cross-cutting
risk under our Enterprise Risk Management
Framework, which can manifest in each of therisk categories in our risk taxonomy: Credit,
Market, Liquidity, Strategic, Operational,
Compliance and Reputation.
Citi 2023 ESG Report

Climate Risk & Net Zero

Our Climate Risk Management Framework(CRMF) promotes a globally consistent
approach to managing climate risk across Citi.
We are working to embed the CRMF into risk
management processes across the bank, as well
as relevant policies and standards.
For details about our climate governance structure
and the CRMF, see our annual climate reports.

Challenges andEmerging Issues
As we advance our climate strategy and Net
Zero Plan, we continue to face many challenges.
Some of the ongoing challenges we have includedin past disclosures include the availability andquality of data, the translation of targets into
actions and the complexity of the transition
obstacles faced by developing countries. In 2023,
we identified the following additional challenges:● As disclosure frameworks proliferate andevolve, we are seeing increased regulatory
pressure and greater complexity in our
disclosure process.
● The level of transparency and focus
from company to company can vary
dramatically, as can the disclosures ofa single company over time — making
assessments of climate strategies, targets
and performance more difficult.
● Understanding the credibility of clienttransition plans and climate strategies canbe challenging if those plans and strategies
rely on new technologies currently indevelopment, especially if companies lackcontingency plans should technology rollouts
be delayed or fail to materialize. If certain
technologies do not scale quickly enough,our clients may miss their own targets,

Net Zero Review Template
Client engagement is a critical step in the implementation of our Net Zero Plan. To aid our efforts in thisarea, we piloted an initial version of the Net Zero Review Template in 2022, and continued to develop andrefine it in 2023. The Template helps us gather information and perspectives so we can better understandand assess our clients’ transition profiles.
Results from our Climate Risk Assessment & Scorecard are one key input into the Net Zero Review
Template. In addition, the Template includes questions about clients’ decarbonization plans, including
factors such as governance, scope (what emissions categories are included), capital expenditure plans andasset retirement schedules (where available/applicable), among others.
The development and implementation of the Net Zero Review Template has been an iterative process,with continual adjustment and refinement. The initial pilot for the Template, underway in 2022 and 2023,
focused on an assessment of our clients in the Energy and Power sectors. For more about how we are using
the Net Zero Review Template and related outcomes, see our annual climate reports.

which could result in Citi missing some of ourtargets as well.
● As countries fall behind on their emissionsreduction targets, we expect to see additional
regulations across global markets and public
policy developments to foster both moreaggressive emissions reductions and greater
coherency of regulations.
● Many developing countries lack the financial
capital to mitigate the adverse impacts ofclimate change. In addition, transitioning
to clean energy requires access to capital,
investments and governmental support.
Multilateral Development Banks (MDBs)
have an important role to play in providing
financial support and technical guidance,
but reform to MDBs will be required to
sufficiently address these challenges.

● Our approach to supporting client
decarbonization in a gradual and orderlyway, while promoting energy security, may
lead to both continued exposure to carbonintensive activity and increased reputation
risks from stakeholders with divergent
points of view. Citi also faces increased
regulation at the U.S. state level related toclimate- and socially focused policies that
may affect our ability to conduct certain
business in those jurisdictions.
For a more detailed exploration of thesechallenges, see our climate reporting.

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ESG at Citi

Our Net Zero Commitment

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our Approach to Managing Climate Risk

Reducing Climate
Risk in Our
Financing
Portfolio Analysis and Measurement
Citi aims to understand the transition andphysical risks that we and our clients are exposed
to by measuring the GHG emissions associatedwith our financing portfolio and evaluating
portfolio decarbonization pathways. In 2023, we
continued to measure progress toward our 2030
targets, aligned with our commitment to net zerofinanced emissions by 2050.

In addition, climate risk scenario analysis,
including stress testing, is an important elementof our approach to assessing the potential
impact of climate-related risk drivers on ourrisk profile across a range of plausible climaterelated pathways.
See our annual climate reports for more
information about the sectors for which we haveestablished emissions-reduction targets, ourprogress against those targets and details on our
climate risk scenario analyses.

Climate Risk Assessment & Scorecard (CRAS)
To help Citi understand the climate risk profiles of our clients, we have developed the CRAS — anassessment and scorecard for climate risk. Using both quantitative and qualitative metrics, this scorecard
helps us engage with clients on the most material climate risks they face and their management plans
for adaptation and mitigation of those risks. Results from the scorecard serve as inputs into the Net Zero
Review Template. For more details on the CRAS, please see our annual climate reporting.

Policies and Standards to Guide Our Approach
Integrating climate risk into our policies and sector standards provides the foundation for consistently
identifying and managing climate-related risks across our company. In alignment with our Environmental andSocial Risk Management (ESRM) Policy, Citi screens for environmental and social risks (including climaterelated risks) for project-related transactions and clients subject to our ESRM Sector-Specific Requirements.
We update our ESRM Policy as needed to respond to changes in the risk landscape, including those related
to climate. For more information about the Policy, risk-screening practices, sector-specific approaches, ourAreas of High Caution and related activities, implementation practices and engagement, see:• Environmental and Social Policy Framework• Environmental and Social Risk Management section

Climate Training
In 2023, our approach to climate training focused, in part, on the use and integration of the Net Zero
Review Template, as well as the Climate Risk Assessment & Scorecard (due to the overlap between
these two tools). As part of this training, we provided relevant bankers and Risk and Global Functions
personnel with live training sessions and background resources related to sector-specific climatetransition planning. The training aims to develop our bankers’ expertise in this area and to increase their
engagement in our overall climate strategy. These trainings also help facilitate the provision of services
focused on leveraging and scaling new climate technologies as we work to support transition finance.
We also launched the Citi Sustainability Learning Center in 2023. This platform, available to all Citi
employees, includes introductory and advanced courses on topics such as climate risk, energy,
sustainable finance, and environmental and social risk management.
São Paulo, Brazil

Citi 2023 ESG Report

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Sustainable
Sustainable
Operations
Operations

Diversity & Talent

Citi 2023 ESG Report

Appendices

Environmental Performance for Operations

Citi has set goals to reduce our operational
footprint and integrate sustainable practices
across our company. This builds on morethan two decades of measuring, reducing andreporting on the impact of our global operations
and a history of prioritizing healthy facilities forour customers and employees.

Operational
Footprint
Goals
Our operational footprint goals help drive
performance improvements related togreenhouse gas (GHG) emissions, energy use,water consumption, waste reduction anddiversion, and sustainable building design.
These goals are aligned with a pathway to limit
global temperature rise to 1.5⁰C. (See the tableon the following page for details on our progress
through year end 2023.) Working toward thesegoals also helps us make progress toward our net
zero commitment for Citi operations.

Warsaw, Poland

Responsible BusinessOver the past few years, and through 2023, ourperformance against these goals has fluctuated,
given the impact of our hybrid work model andthe COVID-19 pandemic. This is especiallytrue for goals related to building occupancy.
Facility-related resource consumption, waste
generation and GHG emissions will continue
to vary in response to the number of people
occupying our buildings as most Citi colleagues
have permanently transitioned to a hybrid work
model, which includes working remotely up to
two days a week. Regardless of this variance, we
continue to work diligently to meet our year-end
2025 operational footprint goals, several ofwhich we achieved in 2023.

Citi has sourced 100% renewable electricity forour operations since 2020. Maintaining 100%
renewable electricity is one of our operational
goals, and it is a key driver in helping us meet
our net zero commitment for our operations.
Availability of renewable electricity can be limited
in some areas of the world. We focus on sourcing
renewable electricity from within the same
market boundary as our facilities and from ourlocal utilities. When it is not practical to source
electricity locally or within the same market
boundary as our facilities, we source renewableelectricity from nearby markets instead. Our aim
is to move toward additional local sourcing or
on-site generation as it becomes feasible. As ofthe end of 2023, 13 of the sites we own or lease
had active, on-site solar generation. Our solar
project in Tampa will bring this to 14, and we planto pursue similar projects in the future.
The priority we place on sustainable buildings
is an important component of our progress
toward achieving our operational footprint
goals. For example, where possible, we source
reclaimed and reused water for our buildings
and their landscaping. We will continue working
toward our water reclamation target, althoughsignificant strides in this area have beendifficult given the available technology. We alsoprioritize a sustainable approach to renovations
and new construction with a focus on zerocarbon-ready building principles, including
reducing operational emissions associated withembodied carbon and building materials. Learn
more about our approach to sustainable andhealthy buildings.

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel(measured against a 2010 baseline)

GHG
Emissions

EnergyWater

Sustainable
Buildings

Waste

Progress
Through 2023

Goal

45%

reduction in location-based
GHG emissions

49%

40% reduction in energy consumption

35%

100% electricity sourcing

maintain 100% renewable

100%*

30% reduction in total water consumption

33%

25%

of water consumed to comefrom reclaimed/reused sources

Managing Climate Risk in Our Operations

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

Net ZeroCommitment

2025 Operational Footprint Goals

Category

Building Equitable & Resilient Communities

9%floor area to be LEED-, WELL40% ofor equivalent certified

41%**

50% reduction in total waste

53%

50% of waste diverted from landfill30%

Our commitment to achieve net zero GHG
emissions by 2050 includes both our financing
and our own operations. For our operations, weare targeting net zero emissions by 2030.
Our emissions-reduction efforts and renewableelectricity use put us well on the path to net
zero for our operations. We continue working
to address direct emissions from the diesel
generators we use for backup power and thenatural gas we use for the heat and powersystem at our global headquarters and, to alesser extent, for heating and cooling across ourglobal operations. Addressing these emissions
will require a combination of electrification, lowcarbon alternative fuels and carbon removals forhard-to-abate emissions.
We report our Scope 3 GHG emissions
associated with our supply chain and our
employee activities (i.e., business travel,commuting and working from home) in our GHG
screening inventory. This information can befound in our annual climate reporting.
We also support our net zero commitment
through our zero-carbon-ready building
approach and our ongoing work to achieve our2025 operational footprint goals.

Our Approach to Carbon Credits
Progress toward net zero will require many
types of solutions to reduce emissions.
We prioritize emissions reductions for ouroperations, recognizing that some low-emission
technologies, processes and carbon removal
solutions are not yet widely available.
In 2022, we began purchasing voluntary thirdparty verified carbon credits. These consist of
a portfolio of nature-based, energy efficiency
and methane destruction credits in an amountequivalent to our Scope 1 real estate emissions.
While we recognize the potential value ofhigh-integrity voluntary carbon credits, we do
not account for the use of carbon credits whenmeasuring progress toward our 2025 operational
footprint goals.
The voluntary carbon credit market is evolving
and we are therefore using our initial purchases
as a learning opportunity to begin developing
an effective, long-term approach for the use ofcarbon credits and removal of residual emissions
as we approach our 2030 net zero commitment.
We have accounted for these credits in ourEnvironmental Performance for Operations. For
more information on the underlying credits, see
the related table at the end of this section.

* 97% within market boundary; 3% sourced from regionally aligned markets.
** 2023 total includes EDGE projects in Latin America and Mexico.

Citi 2023 ESG Report

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Building Equitable & Resilient Communities

Sustainable Operations

Efficient Travel

Managing Climate Risk in Our Operations

Diversity & Talent

Sustainable
and Healthy
Buildings

Citi is on our fourth generation of operational footprint goals to reduce the environmental
footprint of our operations, sites and facilities. Citi tracks our progress toward meetingthese goals, and our efforts to achieve them drives our ongoing work to advance sustainable
operations related to GHG emissions, energy, water, waste and sustainable buildings.

2000

2007

Whether undertaking new construction or
renovating existing buildings, we prioritize
health, efficiency and sustainability to enhancewellness and help minimize the environmental
impact of our facilities. We accomplish thisthrough a variety of programs and initiatives,
including:Achieved goal of 100%
renewable electricity
for all facilities
Achieved thirdgeneration operational
footprint goals

Achievedsecondgeneration
operational
footprint goals

U.S. EPA
Energy Star
Partner of
the Year

2010

2013

2015

Appendices

Environmental Performance for Operations

Sustainable Operations at Citi

Began tracking data forenergy, water, waste
and recycling in first
Global CitizenshipreportResponsible Business2017

Announced fourthgeneration goals, tobe achieved by 2025

Began zerocarbon-readyrefurbishmentof the Citi
Tower inLondonEarned LEED Platinum
certification for our
global headquarters

2020

2021

2023

● A goal to have 40% of our facilities (by floorarea) LEED-, WELL- or equivalent certified
by 2025● Preparation for all new buildings to be zerocarbon-ready by 2030
● Installation of on-site renewable energy
generation● Additional initiatives and improvements toconserve energy, reduce water consumption
and minimize waste● Alignment with health and safety standards
and best practices

Set first GHG
emissions
reduction goal
First LEED-certified
building

Citi 2023 ESG Report

Achieved 25%
GHG emissions
reductioncompared with2005 baseline

Announced
goal of 100%
renewable
electricity by
2020

Announced
commitment
to net zero
operations by
2030
Achieved WELL
Health-Safety
rating for our
global facility
portfolio

Page 29

ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Diversity & Talent

Conceptual images of the new Citi Tower in London

Investing in Renewable Energy

Building Toward Net Zero GHG Emissions

We prioritize on-site generation of renewable electricity where possible,
followed by local sourcing as needed.

We are aligning two current projects — a major renovation of our London office
and a new facility in Dublin — with our zero-carbon-ready building approach.
This approach addresses operational and embodied carbon emissions,
inclusive of energy use, energy supply, integration with utilities and materialuse. Building on lessons we learned from the renovation of our facility inJohnson City, Tennessee, we conducted a zero-carbon-ready analysis andestablished aggressive sustainability targets in the early planning stages
for the London and Dublin projects. This has had a positive impact on design
decisions and negotiations with contractors and vendors.

Shanghai: During the year, Citi also installed 1,800 square feetof solar panels at our office in Shanghai, which will generate 30,000
kilowatt hours of renewable electricity annually, about 6% of the site's
electricity needs.

Citi 2023 ESG Report

Appendices

Environmental Performance for Operations

Tampa, Florida

Tampa: In 2023, we began installing rooftop solar panels on the fivebuildings at our Tampa facility. When completed, the project is expected
to generate enough electricity to cover about 10% of the site’s needs. We
will continue to purchase locally generated solar power to supplement
our on-site generation, so that 100% of the site’s energy needs are met
by renewable electricity. With the installation of these solar panels,
Tampa will join more than a dozen other Citi sites that already use on-site
solar generation.

Responsible BusinessWe also work to incrementally reduce GHG emissions through clean energy
innovations. For example, in 2023, we began piloting the use of hydrotreatedvegetable oil (HVO) as an alternative to diesel fuel at one of our data centers in
the UK. HVO is a low-emissions fuel for diesel generators that reduces GHG
emissions by up to 90% compared with the use of standard fossil fuels. We arelooking into expanding the use of HVO in other regions as well.

We have prioritizedsustainable materials andfurniture selection for our
London Tower refurbishment
project, which could result ina reduction of an estimated

10,000metric tons of embodied
carbon.

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Reducing and Diverting Waste
Recycling and Waste Diversion: We work to divert waste from landfills during renovations and office moves. In
2023, Waste to Wonder Worldwide, an organization that specializes in donation of out-of-use office equipment and furniture,
helped to remove more than 20,000 pieces of furniture from the Citi Tower in London and donate them to 12 charities. During
the year, we also began partnering with Rheaply Inc., a software company within the Citi Impact Fund portfolio that focuses on
helping large organizations reuse goods they no longer need. In 2023, we worked with Rheaply across three U.S. markets, to donate
nearly 1,400 retired office assets to local organizations and nonprofits that can continue to make use of them, which diverted
approximately 62 metric tons of waste from landfill.

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

Increasing Water Reclamation andReducing Water Consumption
Citi prioritizes water conservation and reclamation in building design.
For example, we have incorporated reclamation systems at the following
sites as we work toward our operational footprint goal related to water:

London: The design plans for our renovation project include a graywater system to collect water from hand-wash basins and showers forflushing in restrooms.

In addition, new containers at our branches in California help with sorting waste materials, which has resulted in increased recycling
and waste diversion. In 2023, these new containers increased the recycling rate at our California branches from 10% to 43%.

Metepec, Mexico: The Citi Solutions Center has a wastewater
treatment plant that supplies water for landscaping irrigation andflushing in restrooms.

Avoiding Single-Use Plastics: Our Global Hospitality Services team, which manages food services related to staff

New York City: The rainwater capture system at ourdining, hospitality and vending for a majority of our facilities, has undertaken a multiyear effort to reduce the use of single-use
plastics. For example, in London, Citi has introduced compostable and reusable takeaway containers. The adoption of reusable
containers at that facility increased during 2023, avoiding an estimated 12 metric tons of CO2 over the course of the year.

headquarters is expected to capture nearly 2 million gallons of water
annually for use in landscaping.

Composting: We have introduced compostable tableware at our New York City headquarters, as well as a composting
program, which collected approximately 7 metric tons of compostable material in 2023. The food and organic material gathered
through this program is transformed into biogas, which is then converted to electricity.

In 2023, the overall waste diversion rate for our North
American bank branches, increased from 27% to 31%

Citi 2023 ESG Report

Efficient water fixtures in many new
and retrofitted building interiors can
reduce water use by up to35%
Page 31

ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

Healthy Buildings
As part of our long-standing commitment to healthy buildings, we continue participating in rating andbenchmarking programs with the International WELL Building Institute.™

WELL at Scale:Citi participates in this benchmarking program for measuring and improving health performance acrossfacilities. We received our first WELL at Scale report in July 2023, achieving a score in the 97th percentile
for companies with portfolios of our size. We continue to advance our efforts with regular portfolio
submissions that reflect our ongoing commitment to spaces that place people first. To support our workin this area, Citi is conducting a multiyear, systematic evaluation of our wellness policies and procedures
to strategically expand wellness initiatives and make incremental progress throughout our portfolio.

WELL Health-Safety Rating:In 2023, we renewed our rating for all Citi facilities globally, indicating that our buildings are safe andhealthy environments for our employees, customers and visitors.

WELL Certification:
Recognizing the importance of healthy buildings for employee well-being, we include WELL certification
as an aspect of our sustainable building goal for 2025. In 2023 and the first quarter of 2024, we wereawarded WELL certifications for facilities in the following locations:
Milan: Platinum certification
New York City (global headquarters): Platinum certification
San Francisco: Silver certification
Schaumburg, Illinois: Silver certification
Shanghai: Gold certification

With the exception of Shanghai, these locations also earned the WELL Equity Rating in recognition of
their commitment to inclusive design and user experiences, among other efforts. Some examples ofthese features include lactation rooms and breastfeeding support, acoustic design and technology andergonomic furniture.
Healthy buildings are just one aspect of employee well-being we foster at Citi. (See the Diversity, Equity& Inclusion and Talent Management section for more about our culture of well-being.)
BahrainCiti 2023 ESG Report

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

EfficientTravelCiti relies on a variety of efficiency efforts to
reduce the environmental impact of employee
travel, related to both local commuting and more
extensive business travel.
Our remote and hybrid work models reduce
emissions related to employee commuting. For
days when employees do need to commuteto the office, we work to make efficient travel
convenient and cost effective, through thefollowing:● Providing U.S.-based employees with theability to use pretax dollars to cover the costof commuting by subway, bus, train, ferry
and vanpool● Offering bike storage and bike racks atseveral facilities and providing employees
access to the Citi Bike® bike share program● Providing charging stations for those driving
electric vehicles at our car park in the
Citigroup Centre in London● Offering an app-based platform to help
employees in Colombia identify the bestroutes to work and to find ride shares andcarpooling opportunities
For business-related travel, we encourage theuse of video and web conferencing technologies
rather than travel, whenever possible. However,
due to our global scale, we often need tomeet with clients, partners, teams and otherstakeholders across the world. With this inmind, we take steps to reduce the environmental

Citi 2023 ESG Report

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

impact of travel through many avenues. This
includes engagement to understand theenvironmental impacts of hotels at the property
level and partnering to support the advancementof sustainable aviation fuel (SAF) technologies,
including through SAF certificate options. We arealso transitioning our corporate vehicle fleet toelectric and hybrid models, and evaluating ourtravel policies.
Citi also works to build our employees’
awareness about the impact of travel on our
carbon footprint. Examples include:● Measuring and communicating colleagues’
individual business travel footprints● Providing colleagues with the ability to seeemissions data related to their air travel
when they book travel reservations● Including carbon emissions data oncolleagues’ travel invoices● Increasing employee awareness of theavailability of electric vehicle rentals forreimbursable business travel● Offering educational communications andworkshops
We know that significant, long-term
reductions in travel emissions will be enabled
by decarbonization of the travel sector more
broadly. With this in mind, Citi seeks to engage
airlines, hotel chains and ground transportation
suppliers to understand their decarbonization
strategy and establish metrics to track progressover time toward meaningful goals.

Supporting Sustainable Aviation Fuel andEmissions Reductions from Business Travel
Sustainable aviation fuel (SAF) is an important technology for decarbonizing the aviation sector.
In 2023, Infinium and Breakthrough Energy Catalyst announced a $75 million project equity
investment commitment to support Infinium’s Project Roadrunner. This is a first-of-its-kind,commercial-scale Power-to-Liquids eFuels (derived from waste CO2 and renewable power)
facility, which will produce SAF and other low-carbon fuels. The project, located in West Texas,
will produce a fully integrated eFuels facility that will then deliver products into the U.S. andinternational markets.
Breakthrough Energy Catalyst works to accelerate development of emerging climate
technologies. In tandem with Breakthrough Energy Catalyst’s investment in Infinium, American
Airlines and Infinium entered into a firm, long-term offtake agreement for Infinium eSAF. Thisagreement is seen as a critical enabler of further investment in Project Roadrunner and future
eFuels projects. In support of that agreement, Citi and American Airlines separately agreed totransfer some of the associated anticipated emissions reductions to Citi. We hope that theseapproaches will help demonstrate demand from end-users and serve as a model for how to help
scale up future solutions for decarbonization of air travel.

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable Operations

Sustainable and Healthy Buildings

Efficient Travel

Managing Climate Risk in Our Operations

Employee Engagement
In 2023, more than 3,300 employees participated in the Citi Green Champions program. These
colleagues engaged co-workers and communities in 36 offices around the world in sustainability
projects and awareness campaigns. For Earth Day, colleagues signed up for personal challenges tomake more sustainable choices in their daily lives, track collective progress and raise awareness about
how their everyday actions and choices impact the planet. Additional examples of activities that Citi
Green Champions organized throughout the year include:
Bogotá, Colombia: More than 500 employees participated in a carpooling and sustainablemobility program, which resulted in avoiding more than 1,300 driving hours and more than 20,000
kilograms (kg) of CO2e.
Gurugram, India: Through a partnership with Environmentalist Foundation of India, more than 350

employees cleaned up 4,475 kg of trash from several nearby bodies of water.

Building Equitable & Resilient Communities

Diversity & Talent

Metepec, Mexico: 1,400 employees across several Citi offices in Mexico participated in areforestation project to add more than 15,000 plants across 20 hectares.

Managing
ClimateRisk in Our
Operations
Because Citi operates in 95 countries andjurisdictions, our facilities could potentiallybe exposed to a range of climate-related risks.
To increase our resiliency, we have invested inclimate adaptation solutions in a number ofcritical facilities.
Our Crisis Management, Business Continuity
and Real Estate Services (RES) teams help us
to monitor, prepare for and respond to extreme
weather events or other disruptions to ouroperations.
● Our Crisis Management team has developed
action plans to address immediate risks
and support our employees and customers
before, during and after adverse events.

Gurugram, India

Costa Rica

Citi 2023 ESG Report

Appendices

Environmental Performance for Operations

Manila, Philippines: A two-day sustainable Halloween celebration for Citi employees and theirchildren provided learning opportunities for integrating sustainability into event and party planning.

Responsible Business● The RES team conducts due diligence foreach proposed new location and reassesses
the properties’ structural resilience
periodically, based on risk and following
significant events. These assessments takeinternal Citi standards, as well as local andinternational codes, into account.
In 2023, we worked with a global insurer andclimate modeling firm to study how the changing
climate might impact our risk of physical damage
to our buildings under future climate scenarios.
Through the use of catastrophe models, we firstevaluated the current baseline risk of physicaldamage to our buildings. Then, applying futureclimate scenarios, we evaluated the change
in the risk of physical damage to our buildings
across the 2030, 2040 and 2050 decades. In
aggregate, the change in risk of physical damage
to our buildings was not materially different
from our current baseline risk. While the results
are not predictive and no material change inphysical damage was identified, the results were
informative to help identify geographic areas
more exposed to future climate events, which
can help inform how we plan for the future.

● Our Business Continuity team has plansin place to help Citi resume business
operations as quickly as possible in theaftermath of an extreme climate event.

Sioux Falls, South Dakota

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

Transparent Reporting of Operational Climate Impacts
Citi discloses our Scope 1, Scope 2 and Scope 3 GHG emissions as described below and obtains assurance
for our data related to GHG emissions and other selected environmental impacts in this report.
Scope 1 and Scope 2 GHG emissions: Data included in this ESG report. We follow the GHG
Protocol Corporate Standard and Scope 2 Guidance for measuring and reporting both our Scope 1 andScope 2 market-based and location-based GHG emissions.

Scope 3 CO2 emissions: Air and rail business travel emissions are included in this ESG report. Our

Scope 3 GHG screening inventory, associated with employee activity and our supply chain, is included in ourannual climate reporting.
Assurance: GHG emissions and environmental data for operations and business travel are verified andassured by SGS (SGS Assurance Statement).

Environmental Performance for Operations
2023 Operational Environmental Performance by Geographies
Geographies*

GHG Emissions
CO2e
Location-Based(mt)

GHG Emissions
CO2e
Market-Based(mt)

Carbon Credits
CO2e
(mt)

Net CO2e
Market-Based(mt)

Total Energy
Consumption(GWh)

Total Water
Consumption(m3)

Total Waste(mt)

North America

245,336

33,22532,723502

734

1,930,982

13,580International

252,017

40,382

13,85926,523619

1,796,791

11,3342023 GHG Emissions (Scope 1 & 2) by Geographies
Geographies*

Scope 1 CO2e(mt)

Scope 2 CO2e
LocationBased (mt)

Scope 2 CO2e
Market-Based(mt)

Total CO2e
LocationBased (mt)

Total CO2e
Market-Based(mt)

Carbon Credits
CO2e
(mt)

Net CO2e
Market-Based(mt)

Out of Scopes
C02e (mt)**

North America

32,723

212,613502

245,336

33,22532,723502-

International

13,859238,158

26,523

252,017

40,382

13,85926,523179

Note: Figures may not sum to totals due to rounding.
* These data tables are organized to show our simplified geographic management structure. Geographies outside of North America (U.S. and Canada) are now consolidated under International.
** Where hydrotreated vegetable oil (HVO) fuel is used, we have calculated "out of scopes" emissions to account for the direct carbon dioxide (CO 2) impact of burning. The emissions are labelled “out of scopes” because the fuel source
absorbs CO 2 during the growth phase in an amount equivalent to that released during combustion. This is calculated by multiplying the total liters of HVO by the biodiesel conversion factor. The sourced HVO does not include palm oil.

Citi 2023 ESG Report

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Building Equitable & Resilient Communities

Sustainable Operations

Sustainable and Healthy Buildings

Efficient Travel

Managing Climate Risk in Our Operations

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

Environmental Performance for Operations
2023 Energy Consumption Amounts Applied to Market-Based Emission Factor Types
Emissions Factor BasisElectricity (KWh)Steam (KWh)

Chilled Water(KWh)

Total (KWh)% of Total
Consumption

RECs or Other Energy Attribute Certificates (EACs)

839,239,642

00839,239,642

75%

PPA or Source Contract

226,452,994

00226,452,994

20%

Self-Generated Renewables

843,03900843,0390%

Supplier Specific

0

0

0

0

0%

Residual Mix

00719,199

719,199

0%

Regionally Aligned EACs — Grid Average

30,001,997

0

20,961,724

50,963,721

5%Steam Default

06,273,110

06,273,110

1%

Total

1,096,537,671

6,273,110

21,680,923

1,124,491,704

100%

Building Sustainability Certifications*Geographies

CertifiedSilverGold

Platinum

Total

North America

30

33

63

3

129

International

43

47

92

25

207

Note: Figures may not sum to totals due to rounding.
* This is based on the active buildings in the portfolio as of year-end 2023, and excludes projects for inactive and disposed buildings.
Certified total includes EDGE projects in Latin America and Mexico.

Citi 2023 ESG Report

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

Environmental Performance for Operations
Absolute Indicators
Energy

2010

2021

2022

2023

Natural Gas (GWh)

116

196

230

206

LP Gas (GWh)

0

1

1

2

Fuel Oil (GWh)

49

0

0

0

Diesel (GWh)

0

37

24

20

Hydrotreated Vegetable Oil (GWh)

0

0

1

1

Scope 1 Energy (GWh)

166

233

256

229

Electricity (GWh)

1,846

1,058

1,090

1,097

District Heating (Steam and Chilled Water) (GWh)

74

26

28

28

Scope 2 Energy (GWh)

1,920

1,084

1,117

1,124

Total Energy (GWh)

2,086

1,318

1,373

1,353

Location-Based CO2e Emissions

2010

2021

2022

2023

Direct CO2e (GHG Scope 1)(Gas and Fuel Oil) (mt)36,42948,57452,311

46,582

Indirect CO2e (GHG Scope 2)(Electricity, Steam and Chilled Water) (mt)931,260

438,992

447,908

450,771

Total CO2e (mt)967,689

487,566

500,219497,353

Water Consumption

2010

2021

2022

2023

Potable Water (m3)5,569,341

3,168,686

3,280,950

3,386,983

Non-Potable Water (m3)

12,682

268,484

258,192

340,789

Total Water Consumption (m3)

5,582,023

3,437,170

3,539,142

3,727,772

Note: Figures may not sum to totals due to rounding. Historical data can vary from year to year due to changes in operational control as a result of acquisitions and dispositions of businesses. Historical adjustments are not made as a result of organic growth or decline
for businesses remaining under operational control.

Citi 2023 ESG Report

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

Environmental Performance for Operations
Waste

2010

2021

2022

2023

Waste Diverted from Landfill (mt)16,613

5,585

8,336

7,385

Refuse and Other (mt)35,86918,01518,013

17,528

Total Waste (mt)52,481

23,60026,34924,914

2010

2021

2022

2023

Operating Sq. Ft.

59,863,968

38,501,996

38,257,335

36,979,795

Headcount*

251,095

189,353

207,214

175,744

Total Energy Consumed

2010

2021

2022

2023

kWh/Operational Sq. Ft.

35

34

36

37

kWh/Headcount

8,307

6,959

6,627

7,814

Location-Based CO2e

2010

2021

2022

2023

Metric Tons/Operational Sq. Ft.

0.02

0.01

0.01

0.01

Metric Tons/Headcount

3.85

2.57

2.41

2.85

Business Travel

2010

2021

2022

2023

Business Air Travel CO2e (mt)100,243

10,554

63,681

76,887

Business Train Travel CO2e (mt)

0

32

106

117

Relative Indicators

Scope 3 Emissions

Note: Figures may not sum to totals due to rounding. Historical data can vary from year to year due to changes in operational control as a result of acquisitions and dispositions of businesses. Historical adjustments are not made as a result of organic growth or decline
for businesses remaining under operational control.
*Headcount is the number of occupants assigned to operating buildings for the purpose of occupancy and use monitoring. The values differ from global workforce data and the 10-K due to variations caused by telecommuters and non-employees.

Citi 2023 ESG Report

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ESG at Citi

Operational Footprint Goals

Sustainable Finance

Net Zero Commitment

Climate Risk & Net Zero

Sustainable and Healthy Buildings

Sustainable Operations

Efficient Travel

Building Equitable & Resilient Communities

Managing Climate Risk in Our Operations

Diversity & Talent

Responsible Business

Appendices

Environmental Performance for Operations

Environmental Performance for Operations
Carbon Credits
Citi purchases voluntary third-party verified carbon credits consisting of a portfolio of nature-based, energy efficiency and methane destruction credits in an amount equivalent to our Scope 1 real estate emissions.
Supplier

Project Name

Credit Type

Project Type

Project ID

Registry

ProtocolLocationIndependent
Third-Party
Verification

3Degrees, Inc.

Green Assets — BJT Avoided Conversion Project

Avoidance

Forest Carbon

ACR287 /CAFR5237

American Carbon Registry

ARB Compliance Offset Protocol:
U.S. Forest Projects

Georgia,
United States

Y

Citigroup Energy, Inc.

Advanced Refrigeration

Avoidance

Industrial Process
Emissions

ACR742

American Carbon Registry

Advanced Refrigeration Systems

New York,
United StatesY

3Degrees, Inc.

Improved Cookstoves Project Activity In Honduras “Vida Mejor
con Ecofogones de Alto Rendimiento” — CPA No 004

Avoidance

Energy Efficiency— Domestic

GS6111

Gold Standard

AMS-II.G.

HondurasY

3Degrees, Inc.

Charcoal Stoves in Kenya

Avoidance

Energy Efficiency— Domestic

GS11193

Gold Standard

AMS-II.G.

Kenya

Y

Citigroup Energy, Inc.

Grouped Projects for Water Purifiers in Vietnam

Avoidance

Energy Demand

VCS2557

Verra

AMS-III.AV.

VietnamY

Citigroup Energy, Inc.

Grouped Projects for Vietnam Cookstove Program

Avoidance

Energy Demand

VCS2923Verra

VMR0006

VietnamY

3Degrees, Inc.

Clinton Landfill Gas Collection and Combustion Project

Avoidance

Waste Handlingand Disposal

VCS318Verra

ACM0001

Illinois,
United States

Y

Citigroup Energy, Inc.

GreenTrees ACRE (Advanced Carbon Restored Ecosystem)

RemovalForest Carbon

ACR114

American Carbon Registry

Afforestation and Reforestationof Degraded Lands

Arkansas,
United StatesY

3Degrees, Inc.

Van Eck Forest

RemovalImproved Forest
Management —ARB Compliance

CAR1141 /CAFR5171

Climate Action Reserve

ARB Compliance Offset Protocol:
U.S. Forest Projects

California,
United StatesY

3Degrees, Inc.

Finite Carbon — JTO Champion Property IFM

RemovalImproved Forest
Management —ARB Compliance

CAR1088 /CAFR5089

Climate Action Reserve

ARB Compliance Offset Protocol:
U.S. Forest Projects

New York,
United StatesY

3Degrees, Inc.

Guoluo Grasslands Sustainable Management Project

RemovalAgriculture
Forestry andOther Land Use

VCS2458

Verra

VM0026China

Y

Citi 2023 ESG Report

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Citi Impact Fund

Sustainable Operations

Building Equitable & Resilient Communities

Strategic Philanthropy: The Citi Foundation

Building
Equitable
Sustainable
andResilientOperations
Communities

Diversity & Talent

Appendices

Citi Volunteers Around the WorldAt Citi, we seek to help build thriving, resilient,equitable and inclusive communities forgenerations to come. We support gamechanging, scalable solutions focused on financial
inclusion globally, including the racial wealth gap
in the U.S., as well as economic development
through small businesses and job development,
community solutions and crisis response. We
do this by leveraging the breadth of the firm’s
business capabilities, expertise and volunteers,
as well as the Citi Foundation’s philanthropy.
Citi and the Citi Foundation invested incommunities around the world in 2023.1 In the
U.S., we continued to invest in a broad suite ofinitiatives through Citi and the Citi Foundation’s
three-year, $1 billion Action for Racial Equity
commitment. In 2024, building on what welearned, we announced how we are continuing
to advance our progress to help close the racial
wealth gap.
In 2023, we also worked to advancefinancial inclusion by continuing tooffer nonprofits and ​municipalities accessto our platforms and infrastructure. In San
Francisco, Citi celebrated the high school
graduation of the Kindergarten to College (K2C)
program’s first class of students. Powered by theCiti Start Saving® platform, K2C had enabled
50,000 participating students to save a total of$15 million for college between its launch andJune 2023. We also added 14 new institutions
to the Citi® ATM Community Network, which
now includes 50 participating institutions thatcollectively serve 1 million customers, enabling
more people to avoid out-of-network fees.

1

Citi 2023 ESG Report

Responsible Business

The Citi Impact Fund successfully navigatedmacroeconomic turbulence, providing equity
capital and meaningful post-investment support
to high-impact startups bringing community
solutions to market, and mitigated risk throughenhanced portfolio management.
The Citi Foundation shifted from invitationbased processes to primarily an open request
for proposals (RFPs) process for its programs,
including issuing a new $50 million RFP for theCommunity Progress Makers initiative in the U.S
and a $25 million inaugural Global Innovation
Challenge. This shift makes our philanthropy
more transparent, while also increasing our
engagement with a broader range of stakeholders
and our investment in social innovators bringing
new solutions to long-standing challenges.
We are continuing to balance our flagshipprograms with crisis-response efforts so that wecan provide support swiftly.
We also rekindled our commitment to play ameaningful part in addressing our communities’
evolving challenges and helping them grow,by embracing a return to in-person volunteer
efforts globally.

Throughout this section, in calculating estimates of impact metrics, we use data from third parties.

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Addressing
Financial
Inclusion andthe U.S. Racial
Wealth Gap
In 2023, Citi and the Citi Foundation continued
to advance Action for Racial Equity, a threeyear, $1 billion commitment to pursue a rangeof business and philanthropic initiatives
designed to help increase financial inclusionand close the racial wealth gap in the U.S.
and support our mission to enable economic
growth and progress.
Highlights of our 2023 activities:● Launched a new online destination, Citi
Financial Pathways, to showcase inclusive
products, services and tools that help
meet the financial needs of our customers
in the areas of banking, credit, investing,mortgage and small business.
● Continued to make the Citi Start Saving®
platform available to qualified publicsector entities, including the cities of San
Francisco and Los Angeles and nonprofit
organizations like Operation HOPE andGrameen America. Through the platform,
these partners can efficiently manage
savings programs featuring incentives that
help advance and scale financial inclusion
for low-income participants.
● Built on our engagement in the Office of
the Comptroller of the Currency’s Project
REACh (Roundtable for Economic AccessCiti 2023 ESG Report

Climate Risk & Net Zero

Citi Impact Fund

Sustainable Operations

Strategic Philanthropy: The Citi Foundation

and Change), which brings together
leaders from the banking industry, national
civil rights organizations, business andtechnology to identify and reduce barriers
that prevent many communities fromachieving economic mobility.
● Continued our work as a member of the
Economic Opportunity Coalition, whichaims to align public, private and social
sector investments to accelerate economic
opportunity in underserved communities.

Building Equitable & Resilient Communities

Diversity & Talent

Supporting Minority Depository
Institutions through Partnerships
Growth and capacity building remain top prioritiesof the Diverse Financial Institutions Group’s workwith Minority Depository Institutions (MDIs). Citi
support and client integration are important tolong-term sustainable growth and success of
the approach.
Highlights from 2023 include:

Continuing Our
Progress
While we’ve met and exceeded our initial threeyear, $1 billion commitment, we know our work
to help close the racial wealth gap is not over. Citi
is doing its part to maintain the momentum inthree key ways:• Facilitated relationships between corporate
customers seeking financing solutions fordiverse suppliers and franchisees bringing
together the power of Bridge, a Forocompany, and MDIs.

● Continuing Business Integration:
We are committing to ongoing support for
specialized business units and initiatives tobetter serve diverse institutions, consumers
and communities.

• Launched a new MDI deposit program withthe aim of helping unlock liquidity and theopportunity to fuel more affordable housing
lending and small business growth.

● Deepening Collaboration andLearning: We will continue sharing our
experience and will engage in ongoing
dialogues with a range of stakeholders toadvance mutual learning.

Appendices

Citi Volunteers Around the World• Hosted the Diverse Financial Institutions
Group Summit with more than 120 Citi
and C-suite leaders from the diverse
financials space.

● Advancing Community Investing
Innovation: Our community investing
efforts complement the business integration
efforts by incubating new ideas that support
financial inclusion and help close the racial
wealth gap.

Responsible Business

Re-examining Our Historical Ties to Slavery
Consistent with our Action for Racial Equity commitment and with the assistance of an independent
firm, we updated research that was first conducted two decades ago to understand possible ties Citi
may have had to the institution of slavery in the U.S. This latest review of our records largely reaffirmed
our previous research, in that it did not identify any records showing that Citi or a predecessor
institution directly purchased, sold or held enslaved persons. However, some Citi predecessor entities
likely indirectly profited from the institution of slavery through financial transactions and relationships
with individuals and entities located or operating in the U.S. before 1866.

Read more about what’s next in our update
announcement here.
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Citi Impact
Fund
The Citi Impact Fund makes direct equity
investments into “double bottom line” startups
that are applying innovative solutions to someof society’s most pressing challenges. The
Impact Fund identifies, invests in and supports
the growth of companies and select funds thatreach underserved communities in the areas ofFinancial Resilience, Future of Work, Climate
Resilience and Social Infrastructure.
Importantly, women and people of color continue
to receive only a small fraction of venture capital
investment. For example, research shows thatfirms led by women-only founders received only
1.9% of venture capital in 2022, despite earninga return on investment that was 63% higher
than firms founded by men. 2 Recognizing thesegaps, as part of the Impact Fund's broad sourcing
of investments, it seeks to build a pipeline ofinvestment opportunities inclusive of historicallyundercapitalized founders. More than 70% of its
portfolio companies are founded or co-founded
by women and/or people of color.
The Fund leverages the scale of capabilities andexpertise across Citi to provide differentiatedvalue-added support to its portfolio companies.

2“How Citi Impact Fund Reduces Gender Bias in Venture Capital”(June 20, 2023), Forbes, https://www.forbes.com/sites/
joanmichelson2/2023/06/20/how-citi-impact-fund-reduces-genderbias-in-venture-capital-investing/?sh=73daf2b522c3.

Citi 2023 ESG Report

Climate Risk & Net Zero

Citi Impact Fund

Sustainable Operations

Strategic Philanthropy: The Citi Foundation

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Citi Volunteers Around the World

Citi Impact Fund: Progress to Date
In 2023, despite market instability, the Impact Fund continued to identify promising high-impact investment opportunities, while strengthening its support
for existing portfolio companies.

Since the Fund’s Launch in 2020 Through December 31, 2023:

44$140M+*

companies and funds
received investment

invested in "double bottom line"
companies and funds

2023 Investments and Value-Added Support:

The Citi Impact Fund made newinvestments in Wellthy, a digital
healthcare company; Vibrant Planet, aclimate resilience analytics company;
and Prism Data, a financial inclusion
software service provider. We also
made follow-on investments in
Pathstream, Clerkie, Pallet, Jetty,
The Mom Project and TailorMed.

MoCaFi is a New York City-based fintech
company that streamlines distribution of
public subsidies to individual recipients,
creating pathways for economic mobility
for communities. In 2023, Citi onboarded
MoCaFi to the Citi® ATM Community
Network via its banking partner, Sunrise
Banks, providing its customers withaccess to Citibank branch ATMs aroundthe U.S. with no surcharge.

Wonderschool is a San Franciscobased software-as-a-service
platform dedicated to expanding
the supply of affordable child care.
Citi provided homebuying guidance
to Wonderschool’s child-careproviders through a new webinar
series and featured the company ina national online video campaign.

Citi Real Estate Operations
purchased a subscription to
Rheaply, a Chicago-based
circular economy company
that helps large organizations
reuse or donate physical assets,
reducing waste while measuring
carbon and cost avoidance.

*Reflects capital funded through Dec. 31, 2023.

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Sustainable Operations

Strategic Philanthropy: The Citi Foundation

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Citi Volunteers Around the World

Citi Bike® at 10
In the 10 years since we launched Citi Bike®, the program has far
surpassed our early expectations, becoming an essential part of life
for many New Yorkers, with 1.5 million unique riders hopping on in
2022 alone. In a city where transportation is the second-largest driverof greenhouse gas emissions (GHGs), riders logged 339 million miles
during the program’s first decade.
Announced in May 2012, our title sponsorship helped to create,
install and run the nation’s largest bikeshare program at no cost to
taxpayers. The network has expanded to 1,700 stations and counting,approaching 30,000 total bikes across New York City, Jersey City andHoboken, New Jersey. Roughly 1,500 miles of bike lanes now crisscrossthe city — a self-reinforcing cycle in which more biking has helped
drive the city’s investment in safe, connected bike lanes.
More than a fun, affordable mode of transportation, Citi Bike® bridges
gaps in the city’s transportation network. It also extends inclusion andeconomic opportunity to more people in more areas of the city, with
low-income riders eligible for a Reduced Fare Bike Share membershipat $5 per month. By helping expand mobility options for lower-income
individuals and reducing GHG emissions, the sponsorship aligns with
our $1 Trillion Sustainable Finance Goal by 2030.
As part of our ongoing commitment to supporting this sustainable,
healthy way for New Yorkers to get around town, we have extended ourtitle sponsorship with Lyft, which now owns and operates Citi Bike®, foranother 10 years, through 2034.

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Strategic
Philanthropy:
The Citi
Foundation
Through strategic grantmaking, the Citi
Foundation promotes economic progressin low-income communities around theworld, focusing on programs that increasefinancial inclusion, catalyze job opportunities
for youth and reimagine approaches tobuilding economically vibrant communities.
The Foundation’s “more than philanthropy”
approach leverages the expertise of Citi and its
people to fulfill our mission and drive thought
leadership and innovation.
In 2023, the Foundation continued shifting its
approach to sourcing grantees through open,
program-specific requests for proposals (RFPs).
This model enables us to engage and support a
broad range of organizations across the globe totackle some of the most pressing social issues of
our time.

$86M

Climate Risk & Net Zero

Citi Impact Fund

Sustainable Operations

Strategic Philanthropy: The Citi Foundation

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Citi Volunteers Around the World

Crisis Response
Citi and the Citi Foundation support those affectedby disasters and humanitarian crises, including
our colleagues, clients and customers, as well
as local community members. Throughout 2023,
we supported relief and recovery efforts aroundthe world, including immediate assistance andlong-term reconstruction after the devastating
earthquakes in Turkey and Morocco.
Our support in Ukraine continued, with theCiti Foundation providing funding to assist
displaced families in Poland, and for thehumanitarian response in Ukraine. Our colleagues
in Poland, Spain and Luxembourg prepared schoolsupplies for displaced children, among othervolunteering efforts.
In 2023, the Citi Foundation supported relief efforts
for communities affected by the humanitarian crisis
in Israel and the Middle East. These efforts included
support and emergency grants to provide medical
and food assistance for displaced people acrossseveral impacted countries in the Middle East.
Citi colleagues donated additional funds throughdedicated nonprofit-led giving portals.

in grants provided by
the Citi Foundation

Citi 2023 ESG Report

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Climate Risk & Net Zero

Citi Impact Fund

Sustainable Operations

Strategic Philanthropy: The Citi Foundation

Community Finance
Innovation Fund

Community Progress
MakersAs the economic challenges of U.S.
households increase, Community
Development Financial Institutions (CDFIs)
and Minority Depository Institutions (MDIs)
play a critical role delivering credit andother asset-building financial services tounbanked and underbanked households
and entrepreneurs in low-income
communities.

The Citi Foundation doubled down on its
support for local communities across the
U.S. in 2023 by committing an additional$50 million for its fourth cohort ofCommunity Progress Makers. In October,
the Foundation issued an RFP to select 50
community-based organizations to receive$1 million each in unrestricted funding
over three years. This latest expansionof Community Progress Makers, which
originally launched in 2015, will prioritize
nonprofits that have proven track records
and innovative visions for connecting lowincome communities to greater economic
opportunity. Areas of work include affordable
housing and access, economic development,
financial health and workforce readiness.

Building on our long history of promoting
financial inclusion, through a competitive
Request for Ideas process in 2022,
the Foundation selected 12 nonprofit
organizations as the recipients of its$50 million Community Finance Innovation
Fund. In 2023, the program continued tohelp bolster the work of these specializedorganizations working to level the economic
playing field for low-income communities
and households. (Read more about
selected organizations and projects.)$50M
committed over 3 years

50
U.S. community-basedorganizations

Citi 2023 ESG Report

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Citi Volunteers Around the World

2023 Global
Innovation Challenge:
Food Security
The Foundation’s first-ever Global
Innovation Challenge provided grants
of $500,000 each to 50 community
organizations working to improve foodsecurity and strengthen the financial healthof low-income families and communities
around the world. The initiative advances
projects in four priority areas: food access,availability and affordability, as well as
community resilience.
Innovations range from launching apps thatwill connect food supply and demand topiloting sustainable farming practices.
Through a digital platform and a set of
curated learning experiences, grantees canalso connect, collaborate and exchange
best practices. See Inaugural Global
Innovation Challenge Recipients for a list of
grant recipients.

Pathways to Progress
The Citi Foundation issued a reporthighlighting the impact made through its
Pathways to Progress initiative, capping
more than $300 million in philanthropic
investments from 2014 to 2023.

250+

unique organizations
supported globally

10,000+

Citi employees engaged
as volunteers

1M

youth trained in
employability skills

60,000youth-led businesses
created or expanded

950,000+

young people mentored

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Citi Volunteers
Around theWorld
Throughout the year, Citi colleagues, alumni,
partners, clients, family and friends dedicate
tens of thousands of hours to give back to
the communities where we live and work. We
donate our time and skills through hundredsof events year-round, and also come together
as a worldwide team each year for our Global
Community Day.

Climate Risk & Net Zero

Citi Impact Fund

Sustainable Operations

Strategic Philanthropy: The Citi Foundation

Building Equitable & Resilient Communities

Citi colleagues participated in year-roundvolunteer events with Construyendo
Comunidades Integrales, a nonprofit thatengages volunteers on construction projects
for housing, classrooms and community
centers in low-income communities in several
states in Mexico. The organization uses
materials that are resistant to natural disasters.

Citi 2023 ESG Report

Responsible Business

Appendices

Citi Volunteers Around the World

London Charity Partner
Citi colleagues in London elected Cancer Research UK
as their London Charity Partner for 2023–2024. Overthe two-year partnership, employees will raise funds
and awareness of the charity’s life-saving work.
Part of the funds raised will support the developmentof Sample Cam, a smart medical device that can beswallowed to take photos and samples from insidea person's bowel. The technology could significantly
improve the early detection of bowel cancer.

Delivering Financial
Education Around the U.S.

Building Homes andClassrooms in Mexico

Diversity & Talent

For more than 20 years, Citi has participated in TeachChildren to Save (TCTS), the banking industry’s
largest volunteer effort in the U.S. TCTS is a national
financial literacy program in the U.S. designed toteach children in grades K-8 the importance ofsaving for the future and developing healthy money
habits. Building on our commitment to financial
access and inclusion, in 2023, Citi participated in
Get Smart About Credit (GSAC). This U.S. financial
education program is designed to raise awarenessabout personal finance and banking careers amonghigh school-aged youth and young adults. These
initiatives are part of our broader efforts to engage
volunteers across the U.S. to help deliver meaningful
financial education, including in the areas of financial
literacy, small business, homebuyer education andworkforce development.

Global CommunityDay
For our 18th annual Global Community Day in2023, we returned to in-person volunteering infull force for the first time in three years. Frombeach cleanups in Japan to bike builds in the
U.S., food drives in Nigeria to youth mentoring
sessions in Latin America and much more, we
centered our efforts on helping our communities
overcome the economic and social challenges
posed by the COVID-19 pandemic and achieve
new levels of progress and prosperity.

70,000+volunteerengagements

143,000+
volunteer hours

83
countries andterritories

980+
volunteer activities

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Our People Strategy

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

Diversity, Equity& Inclusion
and TalentManagement

Our People
Strategy
Our colleagues drive our progress globally, and ourability to attract and retain a highly qualified andmotivated workforce is imperative to the successof our business. We work every day to foster aculture of excellence for our people by investing intheir growth and well-being, as well as embracing
Diversity, Equity & Inclusion in all we do, which
drives innovation for the firm.
We strive to ensure Citi remains a great place towork — where people can thrive professionallyand personally. And we continue to do what’s
right by our colleagues, clients and shareholders.
We have a track record of looking ahead andputting in place leading practices that support
our global workforce, enable economic progressand drive our firm forward.
In 2023, Citi undertook significant changes
to simplify the company and accelerate ourprogress in executing the strategy to bring our
vision to life. Citi aligned its organizational
structure with its business strategy — making
the company more client-centric and agile,
speeding up decision-making, improving
productivity to deliver efficiency and driving
increased accountability across the organization.
In alignment with the firm’s business strategy,
our people strategy is focused on three key
priorities to help us advance the competitive
strength of our workforce:● Continuous innovation in recruiting,development, compensation, promotion andengagement of colleagues.
● Actively seeking out and listening to diverse
perspectives at all levels of the organization.

Citi 2023 ESG Report

Responsible Business● Optimizing transparency to promoteaccountability, credibility and effectivenessin achieving the firm's goals.
Our human capital priorities are reflected in theculture and inclusivity of our firm; in the impact
and outcomes that our people generate; and in ourcommitment to living our Leadership Principles:
Taking Ownership, Delivering With Pride andSucceeding Together.

A Culture of WellBeing to Support
All Our Colleagues
Through a range of benefit programs and otherinitiatives, we work to build a culture of well-beingthat supports the physical, mental, social andfinancial health of all our colleagues, to help thembe successful in and outside of work. In addition to
supporting our people, these programs help us toattract, engage and retain the best talent.
Essential to our culture of well-being is acommitment to our colleagues’ mental health.
Through our counseling and behavioral healthprograms, education and outreach, we cultivate
understanding and support for mental healthchallenges. To help managers recognize the signs
and gain the skills and comfort level to support
employees who are experiencing mental healthstruggles, Citi launched global mental healthtraining in the workplace in October 2022. In the
program’s first 12 months, nearly 5,000 managers
attended a session. In addition, Citi is a member of
MindForward Alliance, a global nonprofit advancing
workplace mental health.
Throughout the year, we prioritized mental healthfor our colleagues. Whether through recognizing
Mental Health Awareness Month or World Mental
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Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

Health Day, we focused on breaking the stigma
and providing employees and managers with tools
and resources to support themselves, their families
and their teams, including making sure employees
know where to go for mental health support.
In addition, we have a network of Well-Being
Champions that promote key messages about Live
Well at Citi Benefits, events and resources. They
also highlight opportunities such as the six-week
Citi Global Fitness Challenge, which attracted
nearly 13,000 employees in 78 countries in 2023.
The Live Well at Citi quarterly newsletter and weband mobile app-accessible platform also provide
employees globally with education, resources andactivities to support well-being. Citi colleagues
visited the Live Well at Citi platform nearly 700,000
times in 2023.
Along with competitive compensation, global
facilities that have earned WELL Health-Safety
ratings and standard benefits such as healthcare,retirement and paid time off, we offer colleagues
a wide range of support for their personal andprofessional health and development in andoutside the workplace. Our core benefits areoffered to all employees, subject to law, regulationand custom, and we offset a greater portion of
their cost for colleagues under a salary threshold.
In addition to core benefits, Citi provides a
global minimum standard for paid maternity
and parental leave; adoption, surrogacy andfertility assistance benefits; on-site child carecenters, backup child care and child care service
discounts; on-site health and medical centers;
well-being-focused concierge services; and paid
leave, whether for short-term needs or to pursue
interests outside of work.
Citi is invested in helping employees obtain
the education and skills that will lead to careerdevelopment and growth. Through personalized
education coaching and planning, employees canfind the programs that best fit their needs and goals.
Citi supports educational attainment by prepaying
eligible expenses through tuition assistance, andalso reimburses employees for eligible out-ofpocket costs. Since enhancing our Citi Tuition
Program in the U.S. in 2022, Citi has covered tuition
for more than 2,000 employees, in studies likebusiness, accounting and the liberal arts.

Our Continued Commitment to a Hybrid Work Model
We have adapted and evolved how we work at Citi to enable colleagues around the globe to better
integrate work and life, while delivering the benefits of being together in person.
In 2023, one year after we became the first major U.S. bank to publicly embrace a flexible, hybrid work
model, we fully implemented it across the company. Most of our people now work in hybrid roles, working
remotely up to two days a week. In keeping with the vision set by our CEO, Jane Fraser, to be a humanbank, we are laser-focused on working in ways that drive collaboration and meaningful connections,maximize apprenticeship and learning opportunities, leverage technology to our advantage and support
colleagues’ well-being and belonging. Hiring on a global scale in a hybrid environment has offered many
benefits, including allowing more flexibility and access to a broader range of candidates, helping us
continue to hire and maintain an increasingly diverse workforce.

Citi 2023 ESG Report

Building Equitable & Resilient Communities

Highlights of mental health, well-being
and work-life balance benefits we added or
substantially enhanced in 2023 include thefollowing. (See our website for more details of
our 1,600-plus global programs.)● Online telehealth services provided
through the Live Well at Citi Medical Clinic
support eligible U.S. employees who are
working in remote or hybrid roles with acuteand episodic care, at no cost.
● Help@hand, a mental health programfor UK employees that includes telehealthmental health counseling.

Our Approach
to Diversity,
Equity &Inclusionand TalentManagement
At Citi, Diversity, Equity, & Inclusion isfoundational to our culture and the growthof our business. The global reach of our bankallows us to leverage diverse perspectives,
while also advancing issues that are importantto our people, clients and the communities weserve. Where possible, we aim to have globallyconsistent practices that integrate a full rangeof colleague needs across Diversity, Equity &Inclusion and Talent Management issues, to help
us attract and retain professionals who reflect
diversity in all its forms.

Attracting, Retaining andAdvancing the Best Talent
In 2023, 37.4% of open roles were filled fromwithin the company.
We also sustain connections with former
colleagues through our Alumni Network,
and in 2023, we hired more than 3,000“boomerangs” back to Citi.
Between welcoming new employees andinternal mobility, we reached 4.3 million
global applications, up 28.3% year over year.

Our approach to Diversity, Equity & Inclusion
and Talent Management centers on thefollowing pillars:● Promote a Diverse Employer of Choice
Brand through strategic relationships withorganizations committed to advancing
Diversity, Equity & Inclusion● Manage and Develop Talent by recruiting
and retaining a diverse group of top talent anddeveloping strong next-generation talentpipelines● Foster an Inclusive Culture by developing
inclusive leaders and empowering allies● Drive Accountability by holding leaders
accountable for fostering an inclusive work
environment● Engage Clients to enhance marketplace
opportunities
Our commitment to Diversity, Equity & Inclusion
starts at the top and is prioritized across theorganization, with shared accountability
among managers.
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Sustainable Operations

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Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

Citi has a focus on internal talent development
and aims to provide colleagues with careergrowth opportunities. These opportunities
are particularly important as Citi focuses onproviding career paths for internal talent, aspart of its efforts to increase organic growthand promotions within the organization.

Developing Inclusive
Leaders

Supporting Our
People Through
Challenging Times

For example, in 2023, we introduced thefollowing programs:

The challenging times and geopolitical crisesof 2023 increased our colleagues’ needs forsupport. In partnership with our Inclusion
Networks and external diversity partners, Citi
provided necessary communications, resourcesand engagement to support colleagues dealing
with issues and events including the Lunar New
Year mass shooting in Monterey Park, California,
and the ongoing conflict in Israel and Gaza.​(For details of how Citi and the Citi Foundation
prioritized humanitarian efforts for thoseaffected in Israel and Gaza in 2023, see Crisis
Response.)
Our responses included:● Creation and amplification of theCommunity Space Guide, to support ourcolleagues in hosting these convenings forauthentic discussions on focused topics● Amplification of wellness and mental
health resources in response to the raciallymotivated shooting at a Jacksonville,
Florida, retail store

Citi 2023 ESG Report

Building Equitable & Resilient Communities

To develop leaders dedicated to an inclusive
culture and equipped to promote one, we offer
a range of training and development initiatives.

● The global Allyship 365 initiative, focusedon cultivating allyship, including theUpstander workshops promoting inclusivity
and solidarity against antisemitism,
Islamophobia, mental health stigma andother forms of bigotry.
● The Uncovering and Managing Unconscious
Bias training, focused on recognizing
awareness gaps and managing bias tobetter support colleagues and clients.
Participating team leaders and people
managers gained awareness of how to
mitigate the negative effects of bias in theattraction, development and retention of
top talent and how to serve clients fromall backgrounds.
● In addition to our LGBTQIA+ reverse
mentoring programming, we also launchedsimilar programs for disability andneurodiversity, led by the Citi Disability
Network; and one focused on promotingintergenerational empathy and awareness,
led by the Citi Generations Network.

Fostering Interfaith and Cultural Understanding
At Citi, recognizing and celebrating religious diversity is essential to promoting a culture where allcolleagues feel empowered to bring their authentic selves to work. Citi is a long-standing supporterof the Tanenbaum Center for Interreligious Understanding, which provides organizations withtraining, consulting and resources to enable members of different faiths to practice their religion in theworkplace, while guiding their colleagues to be allies.
In 2023, as part of our efforts to support religious diversity, we expanded our partnership with
Tanenbaum Center to host its annual Religious Diversity Leadership Summit, Unlocking the Powerof Difference, at our New York City headquarters. In addition, we hosted celebrations for holidays
including Passover, Ramadan and Diwali, open to colleagues of all faiths, as an opportunity to cometogether in mutual understanding and respect. To further support education and allyship, we offered
manager guides to Ramadan and the Jewish High Holidays.
At Citi, there is no place for any form of hate, including intolerance of religious diversity. We will continue
to expand our efforts and resources to ensure that colleagues of all faiths, religions and backgrounds
feel encouraged to be their true selves in the workplace.

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Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

Pay Equity
Citi values pay transparency and has taken
significant action to provide both managers
and colleagues with greater clarity aroundour compensation philosophy. Citi has
introduced market-based salary structuresand bonus opportunity guidelines in various
countries worldwide, and posts salary rangeson all external U.S. job postings, which aligns
with strategic objectives of pay equity andtransparency. Citi also raised its U.S. minimum
wage in 2022, the second broad-based increasein less than two years.
In addition, Citi has focused on measuring andaddressing pay equity within the organization:● In 2018, Citi was the first major U.S.
financial institution to publicly release theresults of a pay equity review comparing its
compensation of women to that of men,as well as U.S. minorities to U.S. nonminorities. Since 2018, Citi has continued to
be transparent about pay equity, including
disclosing its unadjusted or “raw” pay
gap for both women and U.S. minorities.
The raw gap measures the difference inmedian compensation, which is affectedby representation of women and U.S.
minorities in senior and higher-paying roles.

Citi 2023 ESG Report

Climate Risk & Net Zero

● In 2023, due to organizational andmanagement simplification initiatives,
Citi paused its annual pay equity analysis,
as we continued the process of aligningroles with the new organizational structure.
Now that the reorganization is complete, wewill conduct our 2023 pay equity analysis
and resume routine pay equity reviews.
● For historical context, the Citi 2022 pay
equity review determined that on an
adjusted basis, women globally are paid
on average more than 99% of what men
are paid at Citi, and that there was nota statistically significant difference inadjusted compensation for U.S. minorities
and non-minorities.
● Our 2022 raw pay gap analysis showedthat the median pay for women globallywas 78% of the median for men, up from
74% in 2021 and 2020. The median pay for
U.S. minorities was more than 97% of themedian for nonminorities, which was up
from just above 96% in 2021 and 94%
in 2020.

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Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

The Importance of Self-ID
Gaining a better understanding of the
makeup of our workforce based on voluntaryself-identification is core to our data-driven
approach to meeting the needs of ourorganization and creating a culture where
everyone can thrive. During 2023’s self-ID
campaign, we invited our entire global
workforce to self-ID their race and ethnicity,
gender identities, sexual orientation,
disability status and military status, as
permissible by local laws and regulations.
Through concerted efforts and buzzgenerating incentives like the chance to win
concert tickets, we saw a significant increasein the number of employees who voluntarily
shared their demographic data. Moreemployees also provided comprehensive
data across all response categories.
As we continue in our efforts to better
understand the composition of ourcolleague population, we are committed
to implementing competitive and effective
Diversity, Equity & Inclusion and TalentManagement programs and policies.
With more targeted data, we can be evenmore intentional in cultivating a cultureof inclusion.

2025 Aspirational Representation Goals by the Numbers
Understanding that diversity fuels our culture and business success, in 2022, Citi announced new aspirational representation goals,* which are moreglobal and inclusive of a number of dimensions of diversity, so that Citi better reflects the communities we serve and is a place where all can thrive. Citi
is proud to be the first U.S. bank to set an aspirational recruiting goal for LGBTQIA+ early-career hires globally. Access our public announcement to learn
more about our 2025 aspirational goals and how we developed them.

North America

11.5%

UK

11% 3%

Black
Colleagues

Asian

U.S.

Black

Global

43.5%

3%

16%

Hispanic & Latino
Colleagues

Women
Colleagues

Mixed Ethnicity& OtherColleagues ‡‡Brazil1O%
Black & Pardo ‡Colleagues

Campus Recruiting

GlobalExpanding diversity and intersectionality
when recruiting our next generation of leaders isfundamental to our workforce diversity efforts.
‡‡‡

50%

3.5%

Women

LGBTQIA+UK

North America

25%

30%

Underrepresented
Communities‡‡‡‡Underrepresented
Communities‡‡‡‡* All aspirational representation goals, with the exception of Campus Recruitment goals, seek to increase representation at the Assistant Vice President to Managing Director levels.
‡
Pardo is an ethnic and skin color category used by the Brazilian Institute of Geography and Statistics in the Brazilian census. The term is more commonly used to refer to Brazilians of mixed ethnic ancestry.
‡‡
The “mixed ethnicity” category has been used by the UK’s Office for National Statistics since the 1991 census and refers to British citizens or residents whose parents are of two or more different races or ethnic
backgrounds. “Other” includes Arab and any other ethnic group and is a defined classification by the UK’s Office for National Statistics.
‡‡‡
Intersectionality refers to the ways that race, ethnicity, gender, sexual orientation and other traits can overlap to create unique dynamics, including distinct obstacles in the workplace.
‡‡‡‡“Underrepresented Communities” in the UK consist of those who are Black, Asian and Minority Ethnic (mixed/multiple ethnicities and other ethnic groups) and refers to those in North America who identify asBlack or Hispanic/Latino.

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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Responsible Business

Diversity & Talent

Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

Diversity at the Top: Senior Leader Representation
2023 Managing Director Class
Citi promotes a new class of Managing Directors (MDs) each year.
This is the highest officer level at Citi and a testament to these
individuals’ performance and commitment to living our Leadership
Principles and instilling them throughout their teams and theentire firm. For our 2023 class, we promoted 304 MDs, who arebased in 30 countries and represent one of the largest and mostglobal cohorts in recent years.

Executive Management Teamand Board of Directors
Our leadership drives a culture of excellence and accountability,
demonstrating gender equity from the very top of the organization.
Jane Fraser is our first woman CEO and was the first woman to leada major U.S. bank. As of the publication of this report, based on
self-identification data, three (16%) of our 19-person Executive
Management Team are women and seven (37%) are racially/
ethnically diverse. Also, seven (54%) of the 13 members of our
Board of Directors are women and 1 (8%) identifies as a racial/ethnic minority. Citi was among the first Fortune 500 companies
to achieve gender parity on its Board.

About Our New 2023 Managing Directors*
Geographic Summary
North America

EuropeU.S.

161 53.0% 20 6.6%

52 32.3%UK

are racially/ethnically diverse**(of the 161 promoted in the U.S.)

Asia North & Australia

60 19.7%

15 4.9%Asia South

Latin America

23 7.6%

12 3.9%Middle East & Africa

Japan

10 3.3%

3 1.0%

30 countries representing 39 nationalities

Managing Director Class Size:
Summary by Year

Asian

Hispanic/Latino

18.0%

10.6%

3.7%

29 colleagues

17 colleagues

6 colleagues

4people witha disability

5

LGBTQIA+3

veterans

Black

20

median years infinancial services

29.9%

28.3%

have worked in
more than one
regionjoined Citi
through anearly-career
program

53.6%

29.6%

multilingual

women

331 in 2022
306 in 2021
241 in 2020
* This diversity data is based on the information we have on file from colleagues who
self-identified for a particular diversity group. Thus, full representation of diversity
might not be reflected.

Citi 2023 ESG Report

220 in 2019304
Promotionsin 2023** Some MDs identify with more than one ethnic/racial group

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Our Approach to Diversity, Equity & Inclusion and Talent Management

Recruit, Retain andPromoteWe recognize that diverse, talented teams, fromthe C-suite to all levels and areas of the firm, arecritical to our success. We continue to strengthen
our talent pipelines and hone our hiring processes,
and we’re committed to paying equitably andcompetitively to attract and retain talent.

Managing Performance
The performance management approach at
Citi centers on our Leadership Principles. Itemphasizes evaluating what colleagues deliveron financial performance, risk and controls, andclient and franchise outcomes, as well as how
colleagues deliver from a leadership perspective.
Citi encourages feedback at any point throughout
the year to supplement mid-year and year-end
formal conversations.

Fair Employment Practices
We strive to maintain an environment inwhich development opportunities arewidely available, where people are hired
and advanced on their merits and where ourcolleagues treat each other with respect.
We are fully committed to equal employment
opportunities, fair employment practices andnondiscrimination.
For more information, see the Human Rights
section of this report, our Code of Conductand our website for policies around fair
employment and compensation.

Citi 2023 ESG Report

Climate Risk & Net ZeroIn 2023, we refreshed and expanded our
performance management process to include
individual developmental planning for all
employees. The process includes dedicatedefforts to engage employees in discussing andshaping their career planning and upskilling. In
addition, we centralized our process for director
promotions to ensure consistency in criteria andevaluation of directors.
We continue to encourage all colleagues tocreate Development Plans and consider thecompetencies and skills they need to develop inorder to achieve their career aspirations. In 2023,
we launched a "Development for all" campaignthat drove significant increases in the numberof colleagues across Citi who had development
plans and conversations with their managers.

Campus and Early Career Recruiting
Our campus recruiting program is an important
way for us to diversify our employee base,and our robust pipeline includes talent fromHistorically Black Colleges and Universities
and other leading universities. We are also
working to expand opportunities, awarenessand interest in working for Citi or in the financial
services industry even earlier, providing unique
opportunities for high school students to learn
about what we do and who we are.
Through our campus and virtual recruiting
events, senior speaker series, case competitions,
Early Insight programs and other recruitment
strategies, we attracted 222,000 applications
across 58 businesses, resulting in a 2023 class ofmore than 3,000 early-career and intern hires.
Our campus and early talent recruiting programs
include:● Several UK programs provide career
entrants from underserved communities

with exposure to banking careers: the UK
Career Ready Program, a four-week paidinternship for school children aged 17+;
the UK Apprentice Program, which enables
apprentices to work toward diplomas ordegrees; and the London Social Mobility
Program, which trains first-year university
students to be successful during summer
internship programs.
● Our Citi University Partnerships in
Innovation & Discovery (CUPID)
program enables us to accelerate innovation
initiatives across Citi by engaging highpotential students and developing a robust,
diverse pipeline of talent from universities
across the globe. In 2023, CUPID engaged
150-plus students through specialized
engagements including hackathons,capstone projects and more.
● Our Early Insights Programs for college
students in their first and second year ofundergraduate studies are focused on
identifying, mentoring and hiring top talent
for summer analyst programs across thefirm. These programs provide early exposure
to, and education about, our businesses,
technical training, mentorship and culture.
● Our high school engagement provides
students with exposure to the financial
services industry through networking,apprenticeships and the exploration ofpotential career paths. We have had theopportunity to host high school students
through various programs, providing
experience in projects and shadowing
opportunities. Additionally, we have events
including Citi on the Vineyard to provide
exposure and education to both high school
and college students.

Representationin Our Analyst andAssociate Programs*
Representation of womenin full-time analyst andassociate roles

50%

53%

2022

2023

Representation of women in
the summer analyst andassociate programs

52%

51%

2022

2023

Black and Hispanic/Latino
representation in full-time
analyst and associate roles

32%

29%

2022

2023

Black and Hispanic/Latino
representation in the summer
analyst and associate programs

29%

30%

2022

2023

* Women representation is based on global data and Black andHispanic/Latino representation is on U.S. data.

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Responsible Business

Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

We continue to engage external partners to
identify and attract early-career talent. Some
examples include:● Forté Foundation is dedicated tolaunching women into fulfilling, significant
careers through access to businesseducation, professional development anda community of successful women.
● Management Leadership for
Tomorrow is a nonprofit organization thathelps build leadership pipelines by developing

Survey Insights:
2023 Global Interns
Nearly2,000 interns
from 500 colleges anduniversities, working in
30 countries

40+
languages spoken
Top 5 responses when asked,‘Why Citi?’
1. Culture and people
2. Diverse environment
3. Globality
4. Values and ESG
5. Training and mentoring

Citi 2023 ESG Report

Climate Risk & Net ZeroBlack, Latinx and Native American talent tosecure high-trajectory jobs.
● Through our partnership with Progress
Builders and Young Women in
Finance, we provide Costa Rican highschool students from technical backgroundswith meaningful work experiences tocomplement their academic learning.
● Out for Undergrad (O4U) is a nonprofit
dedicated to helping high-achieving
LGBTQIA+ undergraduates reach their fullcareer potential.
● Sponsors for Educational Opportunity(SEO) is an organization focused on closing
the academic and career-opportunity gap
for those in underserved and historically
excluded U.S. communities.
● Queer Straight Alliance (QSA) isan LGBTQIA+ student organization in
Hong Kong, with which we share Citi
opportunities. In 2023 Citi hosted their
Inclusion Recruitment Conference, one of
the largest LGBTQ+ career events in Hong
Kong, with over 100 students from various
Hong Kong and overseas universities.
In spring 2023, building on the 2022 launchof the Citi Campus Disability Summit, we
introduced the Disability Leadership track
as part of our program to recruit early-career
talent. Twenty-eight students with disabilities
participated, engaging in speakers series andtraining opportunities, including a session with
the Citi Disability Network. We partnered with
Disability:IN to provide training for Citi mentors
of students in the early-careers Disability
Leadership track.

Developing and Enabling Our Talent
We’re committed to helping our colleagues gain
the skills and experience they need to achieve
their professional goals and deliver the best forour company and our stakeholders.
We invest in a wide range of career development
and planning for talent through mentorship,
networking, rotational programs and partnershipwith organizations committed to developing
all of our talent. Some of these opportunities
include:● Expansion of the Citi Career
Empowerment Program, which includes
virtual modules to strengthen skills such as
leadership, strategic communication andemotional intelligence. Launched in Latin
America in 2019, and expanded globally to
all clusters in 2022, the program reachedmore than 14,000 participants in 2023.

● Partnership with the Executive
Leadership Council that provides acohesive development journey for Black
professionals at the mid-senior level.
● Global Talent Development Program
offers six- to nine-month assignments
abroad to select Vice Presidents andSenior Vice Presidents across U.S.
Personal Banking and Wealth. Program
participants return to their teams withan expanded Citi network and a global
understanding of the firm.
● Collaboration with Out & Equal to deliver
the Leadership Development Program, asix-part interactive development programfor LGBTQIA+ employees and allies. This
series aims to develop participants throughinteractive content on how to lead teams
and lead in communities.

● Black and Hispanic Leadership
Journey: This immersive program for
Assistant Vice Presidents across U.S.
Personal Banking and Wealth provides
development through sessions andcoaching on personal brand, confidence,organizational savvy and the challenges
facing diverse leaders. The program also
engages participants’ managers.
● Black Leaders for Tomorrow, for our
Banking and Markets business, offers an
advocacy program for Directors.
● Citi Leadership Excellence
Development Program brings together
a group of Senior Vice Presidents andDirectors from around the world to networkand develop leadership skills.

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Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

Military Officer Leadership
ProgramOur Military Officer Leadership Program(MOLP) focuses on recruiting, developing,training and preparing transitioning service
members for mid- to senior-level roles at Citi.
Over a two-year period, candidates rotate
three times, giving them a peer networkof mentorship support and a path to a
successful career at Citi.

Citi Inclusion
Networks
Initiated and led by colleagues at our worksites, our Inclusion Networks offer professional
development, mentoring, networking andcommunity engagement opportunities tomembers and colleagues.
Each of our Inclusion Networks is co-led by amember of our Executive Management Team.
Our Employee Network chapters serve as local
representatives of our Inclusion Networks.
The number of our global Employee Network
chapters increased from 238 in 2022 to 252 in
2023, while the total number of unique membersin the groups increased from 21,000-plus tomore than 31,000 globally.
For more than two decades, our Networks haveplayed a critical role in fostering a culture ofinclusion for all. So much has changed in 20
years, and as the world around us continues to
evolve, so, too, should our approach to Diversity,
Equity & Inclusion and Talent Management.
In 2023, we continued to evolve our Network
strategy. We transformed the former London
Roots Inclusion Network into the Citi Black
Heritage and Citi Asian Heritage London Network

chapters. We also expanded the Citi Multicultural
Heritage Network across more offices. In
addition, we launched new Network chaptersglobally, including the Black Heritage Network
in Costa Rica, and the Families Matter Network
in France and the Dominican Republic.
Our current list of Inclusion Networks follows:● Citi Asian Heritage Network● Citi Black Heritage Network● Citi Disability Network● Citi Families Matter Network● Citi Generations Network● Citi Hispanic/Latino Heritage Network● Citi Multicultural Heritage Network● Citi Pride Network

Professional
Development by
the Numbers
More than

9,400,000
total training hours
in 2023

34.3
training hours percolleague in 2023

● Citi Salutes Network● Citi Social Mobility Network (UK only)● Citi Women Network
We take a phased approach to enhancing
our strategy so that we can be more impactful
and global. Our Network activities are clearlyaligned with our Diversity, Equity & Inclusion
strategy. Our Inclusion Networks are open to
all Citi employees.

Report Explores the Power of Role Models
In 2023, Citi sponsored a new report exploring the impact of role models on LGBTQIA+ talent: “Seeing
is Believing: The Power of Role Models and Visibility.” Created in partnership with LGBT Great, theLGBTQIA+ membership community for the financial services industry, the report presents findings fromsurveys conducted in the UK, U.S., Hong Kong and Singapore. Access the report here.

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Climate Risk & Net Zero

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

Voice of the Employee
For the past 25 years, our annual Voice of the Employee (VOE) survey has
provided valuable insights into colleagues’ experiences working at Citi
and what is important to them as they build their careers here. In 2023, we
maintained a high response rate, with 86% of colleagues participating inthe survey.
Ethics and client-centricity continue to be our signature strengths, with 96%
of colleagues reporting that they feel accountable to openly identify andescalate issues that present risks to our firm and 95% reporting that they
speak up when something impacting clients could be improved. This year’s
results also reflect high scores in manager effectiveness. The vast majority ofcolleagues report that their direct manager cares about their well-being, treats
employees with respect and holds people accountable for managing issues
that present risk to Citi.
Feedback from Citi colleagues is critical to our strategy, and our efforts tosimplify the firm are ongoing. We take these VOE results seriously and arecommitted to keeping colleagues apprised about how we are acting on them.

96%

95%

of colleagues feelaccountable to openly
identify and escalate issues
that present risk to our firm

speak up whensomething impacting
clients could be
improved

92%

90%

feel empowered todeliver on their own andtheir teams’ goals

Citi 2023 ESG Report

Sustainable Operations

agree that their direct
managers drive clientcentricity in everything
they do2023 Survey Highlights

90%

In my team, when a groupdecision is made, we all commit
and proceed as decided

90%

My manager promotes
diversity, equity and inclusion
in our team

88%

90%

89%

We Take
Ownership

We DeliverWith Pride

We Succeed
TogetherCore Indices*

85%

79%

92%

89%

Diversity, Equity& Inclusion

Engagement

EthicsManager
Effectiveness2022 86%

2022 80%2021 80%2022 93%2021 91%

2022 88%

Note: Data based on favorability/agreement rates from eligible Citi colleagues.
* Due to updates introduced in 2022, 2021 trend data is not available for the Diversity, Equity & Inclusion and Manager Effectiveness indices.

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Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Our Approach to Diversity, Equity & Inclusion and Talent Management

Global Workforce Data*

Total Employee
Headcount

238,766
Total Employees

236,562
Full-Time
2,204
Part-Time38,36840,07775,877

Total

Total

Total

Employee Turnover

New Employee Hires
37,465Full-Time

903
Part-Time

39,282Full-Time

Employees by Genderin the U.S. ***795
Part-Time

39,277
Women

36,591
Men

Total Employees by Physical Region

Employees
by Gender**238,766
Total Employees

117,912
Women

91,200

9,916

6,812

1,386

North America

United Kingdom

EuropeJapan

14,509
Hires

1,682
Hires

11,558Turnover1,008
Turnover

687
Hires

510
Turnover

126
Hires

131
Turnover51,280

5,469

9,565

10,013Latin America

Middle East & Africa

Asia South

Asia North & Australia

9,261
Hires

6,986
Turnover

489
Hires

1,580
Turnover

1,430
Hires

2,356
Turnover

1,129
Hires

2,014
Turnover120,820
Men

53,125* Data as of Dec. 31, 2023.
** 34 employees did not disclose.
*** 9 employees did not disclose.

Citi 2023 ESG Report

International Hub
9,055
Hires

5,254
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U.S. Workforce Data*

75,877149

15,702

8,711

American Indianor Alaskan Native

AsianBlack or African
American

Total

**

Total

Total

Total employees

6,952 8,750

95 54
Women

Men***

39,27736,591

5,459 3,252

14,470132

1,562

33,320

Hispanic or Latino**

Native Hawaiian
or Pacific Islander

Two or More RacesWhite

810 752

16,905 16,415

Total

8,253 6,216

Total

81 51

Total

Total

* Data as of Dec. 31, 2023.
** 1,831 people did not disclose race/ethnicity, including 722 women, 1,101 men, and 8 who did not disclose gender. A total of 9 people did not disclose gender.
*** 1 person identified as Hispanic or Latino but did not disclose gender.

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ESG at Citi

Transforming Our Firm

Ethics at Citi

Sustainable FinanceRisk Management

Climate Risk & Net Zero

Human Rights

Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Responsible
Business

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Transforming
Our Firm
Our number one priority at Citi is to execute ourfirm-wide Transformation with urgency andexcellence. We are modernizing and simplifying
our firm to make Citi a better bank for our clientsand an easier place for our colleagues to work.
Our Transformation Steering Committee,
chaired by our CEO, sets the overall direction
for our Transformation efforts, with oversightfrom our Board of Directors. In 2023, we placed
leaders with demonstrated success in leadingtransformative change in key roles to steer our
Transformation. For example, we appointed a
new Chief Operating Officer to advance progress
across the firm and engage Citi colleagues
in the important role they have in driving
transformation and strengthening our culture.
We are transforming to enhance our risk andcontrols environment, improve the quality of ourdata, clarify roles across the firm and create aculture of ownership and accountability. Beyond
delivering on regulatory expectations, we are
adopting simpler, more efficient processes
and leveraging new technology and tools tostrengthen our competitive edge and enhance
the client experience. For instance, we havemade meaningful progress in consolidating
technology platforms and implementing a newmodel for underwriting wholesale credit risk.

Our Transformation is a multiyear journey that
extends beyond improving the bank we aretoday; we are looking ahead to ensure we run asa better bank in the future.
We’re changing the way we work across Citi,and every colleague plays a part. As part of ourTransformation, we have undertaken a firmwide culture change program to help us live
our Leadership Principles, embrace a mindsetof collective responsibility and drive positive
outcomes for our firm and our clients. We arefocused on ownership and building a culture
where colleagues hold each other accountable.
The culture change program is supported
by our senior leadership and includes
communications, workshops and otherresources to empower employees. Additionally,
our global network of employee change
champions model new habits, encourage theircolleagues to do the same, test new strategies
and provide feedback. Our 2023 annual Voiceof the Employee survey indicated that 92% ofcolleagues feel empowered to deliver on theirown and their team’s goals, and 88% agree thatspeaking up and challenging are encouraged.
We use our employee development programs,compensation structure, and promotion andperformance management processes to reinforce
and incentivize excellence. Our compensation
structure captures individual impacts on risk andcontrols as part of employee performance goals.

We also introduced a new, simpler operating
model across Citi that will help us strengthen
our focus on risk and controls and accelerate
our Transformation.
Warsaw, Poland

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Ethics at Citi
Each of our employees shares a common
responsibility to earn and maintain our clients’
trust by applying our values and principles
every day to everything they do. We expect ouremployees to prioritize excellence — for ourclients, in our operations and in our risk andcontrols environment — and to provide our
products, services and expertise in a systemically
responsible manner, while complying with allapplicable laws, regulations and Citi policies. To
reinforce this, we establish and communicate
our core values and principles through our
Mission and Value Proposition, our Leadership
Principles, our Code of Conduct, various training
and development opportunities, employee
engagement initiatives and communications
from our senior leaders.

Tone from the Top
We uphold strong ethical standards through ourgovernance framework, programs and efforts
that embed our expectations for behavior
throughout the organization. This starts with
our Board of Directors. With oversight from theCompensation, Performance Management andCulture Committee, our senior leaders reinforce
appropriate conduct and accountability within
the organization, and empower our employees
to make ethical decisions, escalate issues andadhere to our standards of conduct.
Managers have a unique responsibility to createa respectful working environment, promptly
intervene when they see inappropriate behavior,escalate concerns and ensure that interactions
among employees comply with our expectations
for a respectful environment. Managers must
lead by example, inspire their employees to live
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our values and create an environment that is
free from discrimination and harassment. We
also expect managers to promote awarenessof resources available for reporting concerns,
encourage employees to speak up about allissues and then resolve or escalate concerns
through appropriate channels. Managers mustnever engage in, nor tolerate, suppression ofconcerns or retaliation of any kind.

Acting With Integrity
We empower our employees to do what’s rightby setting clear expectations, providing tools
and educational resources to reinforce ethicaldecision-making, and consistently providing
information about the various resources available
to escalate concerns.

Code of Conduct
Our Code of Conduct, updated in 2023, outlines
the standards of ethics and professional
behavior expected of employees andrepresentatives of Citi when dealing with clients,
business colleagues, shareholders, communities
and each other. It also provides an overview of
key legal and regulatory requirements and selectglobal policies.
Published in 18 languages, our Code applies toall directors, officers and employees of Citi. The
expectations within the Code apply regardless ofwhether our employees are at work, at workrelated events or together outside work.
Upon joining Citi, employees must acknowledge
that they have read and will comply with ourCode. Individuals performing services for Citi
may also be subject to our Code by contract oragreement. Violations can result in disciplinary
action up to and including termination of
employment or other relationship with Citi.

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Our Leadership Principles
These principles support our Transformation to become a better, stronger bank. Holding ourselves andeach other to these high standards is integral to our culture and our commitment to operating in ourclients’ best interests, driving economic value and managing risk.
• We take ownership: Challenging each other to high standards and welcoming thatchallenge; greeting change with optimism, curiosity and resilience; speaking with candor;
learning from experience; and contributing to and honoring group decisions• We deliver with pride: Striving for excellence across our business; simplifying,standardizing and clarifying our work; holding ourselves and others accountable for managing
risk; fixing root causes of problems; and taking pride in doing the right thing• We succeed together: Valuing and learning from different perspectives; breaking down
barriers; measuring performance through a stakeholder lens; investing in colleagues from all
backgrounds; and showing empathy for our colleagues, clients and communities

We provide Code of Conduct training to newhires globally when they join Citi, as well as tononemployee contingent workers performing
services for Citi at their time of onboarding. In
addition, we ask these members of our workforce
to reaffirm their commitment to our Codethrough annual Code of Conduct training.

Escalating Concerns
Our Code of Conduct emphasizes the principle
that, when in doubt, employees should always
err on the side of escalating concerns. It provides
an overview of the types of misconduct andconcerns that require escalation and theresources available to employees for prompt
escalation of concerns, as well as a link to thefull Citi Escalation Policy, which provides evenmore information for employees about escalation
requirements and resources.
Employees are encouraged to raise concerns totheir manager, but if they feel uncomfortable

doing so, Citi provides a number of escalation
resources, including the Ethics Hotline.
The Ethics Hotline is a confidential, anonymous
reporting mechanism that provides different
channels for employees and any third party,
including members of the general public, toreport concerns about unethical behavior to
the Citi Ethics Office. In addition to internal andpublic-facing websites that facilitate submissionof concerns, a telephone line is available 24 hours
a day, seven days a week, with live operators who
can connect to translators in multiple languages.
The phone and web submission portals of the
Ethics Hotline are administered by an outsideservice provider, which directs all concerns to
the Citi Ethics Office. The Ethics Office reviews
and assesses all concerns and determines theappropriate course of action to address all
issues raised.

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All contacts to the Ethics Office and Ethics Office
investigations are treated as confidentiallyas possible, consistent with the need toinvestigate and address the matter and subject
to applicable laws and regulations. Concerns
may be raised either anonymously or withattribution. All concerns are investigated and,
where substantiated, lead to meaningful action
within our organization, which could include
disciplinary action, termination of vendor
relationships, referrals to law enforcement
or governmental authorities, employee
communications, additional training, control
enhancements, and changes to Citi policies,
business processes and procedures.

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Citi prohibits any form of retaliation against
those who raise concerns or questions regarding
ethics, discrimination or harassment matters;
request a reasonable accommodation for adisability, pregnancy or religious belief; reportsuspected violations of law, regulation, rule,or breach of policy, standard, procedure,or our Code; or participate in a subsequent
investigation of such concerns. Employees
who engage in retaliation — or discourage acolleague from raising concerns — are subject
to disciplinary action, up to and including
termination of employment or other relationshipwith Citi.

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Assessing Our Culture of Ethics
Hearing from employees is one important way we assess the strength of ethics and accountability
across our company. As part of our annual Voice of the Employee survey, we include an Ethics Index togather feedback from employees about the following items:• Comfort with reporting unethical practices without fear of reprisal• A feeling of accountability to identify and escalate issues that present risk to Citi
• Confidence that Citi will act upon reported legal or ethical violations• A belief that colleagues act with integrity• Manager encouragement of ethical conduct even in the face of pressure
In 2023, 92% of our employees responded positively to the index. We will continue to listen to ouremployees and raise the bar in this area.

Transparency for Employees
Annual Ethics Hotline Summary

To reinforce how raising concerns leads to meaningful action within Citi, the Citi Ethics Office provides
all employees with an annual summary of the types of concerns it has received, including thoseresulting in corrective actions.
Spotlight on Ethics

Through this quarterly communication to employees, we continue to share the results of Ethics
Office investigations, to reinforce to our workforce that concerns are investigated and to highlightcommonplace areas where ethical lapses can occur. The Spotlight includes corrective actions that
resulted from described Ethics Office investigations, to reinforce again that speaking up leads tomeaningful action. In 2023, we used the Spotlight on Ethics to highlight our policies and standards
related to anti-discrimination and sexual harassment, and to emphasize that our Code and otherworkplace policies apply whether employees are together in the office or outside the office, among
other topics.

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Risk
Management
We employ robust policies and practices to help
detect and prevent corruption, address potential
environmental and social risks in our portfolio,and safeguard data and customer privacy. Theserigorous practices support our efforts to grow a
successful, respected business that delivers thebest possible results for our clients, customers
and communities.

Managing Corruption
and Tax-Related
Risks
Anti-Corruption Activities
Our Chief Compliance Officer, who reports
directly to our General Counsel, provides regular
reports on our efforts related to anti-money
laundering (AML), anti-bribery and corruption,and sanctions compliance to the Citi Boardof Directors or a committee of the Board, as
appropriate.
Our AML team works to identify and counteract
significant financial crime risks that confront
the financial sector. Select examples of ourpartnerships in 2023 include:

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Responsible Sourcing● United for Wildlife: Citi works withgovernment agencies, nongovernmentalorganizations and other financial
institutions to fight illegal wildlife
trafficking (IWT). In 2023, we participated in
the United for Wildlife Financial Taskforce,
including membership in the organization’s
East Africa, Middle East and North Africa,
North America and Hong Kong regional
chapters. We also participated in a Unitedfor Wildlife meeting on risk convergence
typology, during which we presented an
overview of the role financial services has
in combating IWT, as well as challenges
and effective methods for identifying andinvestigating IWT-related matters.
● Vulnerable Persons Program: During
the year, Citi launched a program to
expand our efforts in combating financial
exploitation of older and vulnerable adultcustomers. A related awareness campaign
included messaging on account statements
and on digital screens within branches, ATMbanner alerts and education efforts within
low- and moderate-income communities
about scams that target older adults. Citi
also educated branch employees on this
topic and developed a quick-reference
resource to help colleagues identify
and respond to situations of possible
exploitation of elder and vulnerable adults.

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Programs and Training to Combat Financial Crimes
Anti-Bribery and Corruption Program

Sanctions Program

Citi has policies, procedures and internal
controls to comply with applicable antibribery laws, and we conduct an annual
bribery risk assessment of all global businesslines. We provide our staff with anti-bribery
training annually and supplement it withtargeted training and communications
as needed. For more information, see theCiti Anti-Bribery and Corruption Program
Statement, which is updated periodically.

Citi is obligated to comply with applicablesanctions, laws and regulations in the
countries where we operate. In each, we
maintain a robust, risk-based Sanctions
Program that applies globally. Our Sanctions
Program includes enterprise-wide controls
reasonably designed to comply withapplicable sanctions laws and regulations andis comprised of a diverse team of Complianceprofessionals stationed around the world.
Through our internal communications
channels, we remind colleagues that they
may not, directly or indirectly through a third
party, facilitate prohibited business activities
in circumvention of applicable sanctions
restrictions.

Anti-Money Laundering (AML)
ProgramOur AML Program helps protect our clients,
our franchise and the global financial
system from the risks of money launderingand terrorist financing. Citi works throughcross-functional teams to provide effective
enterprise AML risk management and tomeet our AML-related requirements at both
the global and the local levels. For more
information, visit our AML Program website.

For more information about Citi programs
that combat money laundering, corruption
and bribery, as well as our work to comply
with sanctions and regulations, see the “OurBusiness” section of our Code of Conduct.

Number of Employees and Contingent Workers
Who Completed Our 2023 Financial Crimes
Compliance Training*

75,78012,405

1,305

North
AmericaUKJapan

49,36515,03015,995

Latin
America

EuropeAsia North andAustralia

4,019

51,195225,094
Total

Middle East
and Africa

Asia South* This combined online training incorporates multiple anti-corruption efforts, including AML, sanctions andanti-bribery training. Numbers include all Citi staff who had completed the 2023 training as of December 2023.
(Employees and contingent workers generally have 30 days to complete it.)

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Taxation Policies and Standards
Citi does business in nearly 160 countries
and jurisdictions and maintains strong review
and escalation processes that enable us toadhere to high standards of compliance withapplicable tax laws. We are a current income

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taxpayer, both within and outside the U.S.
Our tax profile is consistent with the locationsof our business operations, and we adhere toOrganisation of Economic Co-operation andDevelopment (OECD) standards on substanceand transparency.

Diversity & Talent

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Appendices

Responsible Sourcing

We emphasize strong internal controls andtransparency with global tax authorities andshare information relevant to our tax profile. We
supplement this transparency with additionalcountry-by-country reporting, which is required
under the OECD’s action plan to address baseerosion and profit shifting. Tax management isoverseen by our Chief Tax Officer, who reports
to the Chief Financial Officer. Our global tax
approach is reviewed with the Audit Committeeof the Board of Directors.
For client-related tax matters, Citi maintains astrong system of controls to support reporting
and withholding requirements. We havesystems and processes to comply with theForeign Account Tax Compliance Act and theCommon Reporting Standard in all applicablecountries where local implementing guidancehas been issued. Citi monitors global laws,
rules and regulations affecting client taxes
and analyzes any changes. Similarly, we havefirm-wide requirements applicable to customertransactions, under which Citi will only engage
in transactions where there is a high degree ofconfidence that the tax aspects will be acceptedby the respective taxing authorities.
For more information on how taxation impacts
Citi, see page 191 of our 2023 Form 10-K.

Public Policy
The potential impact of public policy on ourbusiness, employees, communities andcustomers is the reason that Citi works toadvance and protect the global businessinterests of our company directly and indirectly,
through engagement with trade associations,
governments and elected officials around theworld. Citi advocates for public policies that

support the interests of our company, clients,
shareholders and employees, such as tradeand investment proposals and capital rules.
Guided by our Political Engagement Statement,
company political activities are performed incompliance with applicable laws and regulations.
Under U.S. Federal Election Commission rules,
the Citi Political Action Committee (Citi PAC)
pools the voluntary contributions of eligible
employees to support U.S. political candidates
and campaigns that support the financial
services industry and complementary probusiness policies. Our bipartisan Government
Affairs team and the Citi PAC Board consider
whether contributions meet our criteria.

Safeguarding Data
and Protecting
Customer
Information
As digital solutions expand and become more
integrated into our daily lives, we see increasing
concerns over privacy and security breaches.
Data security and customer privacy are top
priorities for Citi and for our stakeholders.

Cybersecurity
Our Chief Information Security Office ensuresthat an appropriate level of cybersecurity
governance, capabilities and controls exists
to protect Citi’s and our clients’ assets andinformation, with end-to-end accountability
across the firm. Our strategy incorporates
architecture, technology, tools, policies andprocesses to prevent, detect, respond to andrecover from cyber threats quickly.

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Key Elements of Our Cybersecurity Program
Program GovernanceComprehensive Approach to Cybersecurity Breaches• Oversight from our Board of
Directors• Regular risk assessments and internal controls to defend against breaches• Regular reviews by regulators andby internal and external auditors• Globally managed by the Chief
Operations & Technology Officer
and the Chief Information Security
Officer• Heads of each businesssector and geography are
responsible for implementationand compliance with program
requirements• Technology and cybersecurity policies based on established industry standards• Robust technologies to protect data and systems, supported by a strong team with deep expertise inindustry and government• Secure networks to protect systems and databases, and continuous improvement of capabilities tomeet the challenge of an evolving threat environment
In the event of a potential breach, we have a robust process to ensure appropriate reporting andnotification, which includes:• Reviewing the breach to determine whether it meets any regulatory or legal reporting requirementsin the jurisdiction(s) where the breach occurred or in the jurisdiction(s) impacted by the breach. If
deemed necessary, a legal assessment is conducted• Notifying the impacted customers as required by the laws or regulations of the impacted
jurisdiction(s) and as directed in the legal assessment, if it results in a requirement to perform
customer notifications

Training
Training provided annually toemployees on how to properly handle
and maintain the security and privacyof Citi’s and our clients’ assets andinformation

Industry Leadership• Working with our clients, peer financial institutions,
governments, law enforcement and intelligenceagencies on a global scale to enable the collective
security of the financial services sector by:

Third-Party
Certification
Certified compliance with the ISO
27001 standard for our global
information security and technology
infrastructure programs

Mumbai, India

Secure Solutions
Investment in and development of advanced security
solutions to safeguard information:• Sharing best practices• Exchanging tactical information about specificcybersecurity threats• A multifaceted approach to move toward
password-less capabilities, including biometric
options such as voice recognition or fingerprints• Conducting joint cyber resilience exercises• Driving adoption of industry-wide standards andapproaches• Next-generation security components that
support digital and mobile growth by enablingenhanced security features for our mobile
applications• Receiving and sharing threat data with our partners
in near-real time, and leveraging that information tostrengthen our internal controls and practices andto protect Citi from attacks perpetrated against
other firms• Advanced technology for improved cyber incident
monitoring, detection and response capabilities
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Privacy
The fair, ethical and lawful collection, use andprocessing of customers’ personal information
is essential to build trust, provide best-in-classservices and achieve our corporate objectives.
Our Global Privacy Program is overseen by a
dedicated global Chief Privacy Officer. The
program provides a framework for managing
privacy and confidentiality risks for the company.
Citi has also appointed a global Chief PrivacyCounsel within the General Counsel’s Office.
The global Chief Privacy Counsel leads a teamthat sets and executes the overall privacy
legal strategy for Citi and provides guidance tobusinesses and functions across our company.
Our Privacy and Bank Customer Confidentiality
Policy articulates principles relating to thecollection and processing of personal information,requiring, in part, that personal information
only be collected and used as necessary forthe performance of the services offered andfor the purposes disclosed. Citi is transparent
about personal information collection and use
practices, and offers customers choices about
how their personal information may be collectedor used (as required by law), including choices
relating to marketing or reviewing and correcting
information. Citi employees are required to takeannual privacy compliance training that covers
these privacy concepts.

Protecting Digital Identity
Verifying our customers’ identity is fundamental
to safeguarding their financial assets andprotecting their privacy. Our aim is to deliver
solutions that provide seamless, intuitive
interactions with digital tools that will notcompromise personal data. We provide ongoingtraining for our employees through digital
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identity learning packs that help build awarenessof, and skills related to, new digital identity
technologies. In addition, we engage withclients, partners and industry experts on thetrends, challenges and opportunities related todigital identity and to explore technologies withthe potential to meet our customers’ needs.
We also provide customers with resources andinformation related to safety and security. Our
U.S. online Security Center enables customers
to learn what Citi does to protect them andwhat they can do to protect themselves against
identity theft and other security risks.

Emerging Financial Technologies
We monitor developments and innovations
related to financial technology, artificial
intelligence and digital assets, amid sustainedinterest from clients and investors. We carefully
evaluate the evolving regulatory landscapeand associated financial and nonfinancial risks
to ensure we meet both our own regulatory
frameworks and supervisory expectations.

Environmental
and Social Risk
Management

Diversity & Talent

Appendices

Responsible Sourcingchange, biodiversity, local communities, labor,human rights (including Indigenous Peoples'rights) and other environmental and social
issues. Our policies and procedures reference
international industry standards, such as:● International Finance Corporation’s
Environmental and Social PerformanceStandards● World Bank Group’s Environmental, Health,and Safety Guidelines● Accountability Framework Initiative● Forest Stewardship Council● Roundtable on Sustainable Palm Oil● Roundtable on Responsible Soy
Under our ESRM Policy, Citi screens forenvironmental and social risks in project-relatedtransactions, as well as clients subject to ESRM
Sector-Specific Requirements. In addition, thePolicy includes certain limited Areas of High
Caution, which identify flags for heightened risk
factors to refer to the specialized ESRM team forreview regardless of financial product or sector.
The Risk Management Committee of our Boardof Directors provides oversight of environmental
and social risks, as well as oversight of key risk
policies.

Our ESRM Policy

Policy Implementation

Our Environmental and Social Risk Management(ESRM) Policy guides our approach to responsibly
managing environmental and social risks
associated with our financing. We establishedthe Policy in 2003, and we continue to evolve ourapproach in response to emerging risks.

Applying our ESRM Policy guides how weevaluate financing opportunities with potential
environmental or social risks, and presents
opportunities for us to engage with clients on
industry good practice used across their sectors.

The Policy covers a broad scope of financial
products and client sectors that have risks
related to air quality, water quality, climate

Responsible BusinessOur centralized ESRM team, part of the Risk
Management function, evaluates transactions
that trigger review under our ESRM Policy.
Because the Policy is applicable broadly

throughout our financing activities, we engage
across the firm with colleagues in banking,credit risk, reputation risk, climate risk, risk andcontrols, and regulatory teams, among others, toshare ESRM subject-matter knowledge and learn
from internal expertise.
At the initial stage, when a transaction
opportunity is first explored, our ESRM
team works with Citi bankers to evaluate themagnitude of the potential environmental andsocial impacts associated with the transaction
and to determine what action, if any, is needed
to align with our ESRM Policy prior to final
approval of the transaction. If we find a risk ofadverse impacts, we may conduct enhanced due
diligence (appropriate to the financial productand underlying client activity), and we evaluate
the client's commitment and capacity to avoid,
mitigate and/or manage those impacts.

ESRM Training
We offer three web-based training modules
for relevant employees to raise awarenesson the scope of our ESRM Policy. These
trainings help Citi bankers, risk managers
and compliance officers to identify potential
environmental and social risks in transaction
and client reviews that require referral to the
ESRM specialist team, ensuring effective
implementation of the ESRM Policy. The
training includes topics such as projectrelated financing requirements, SectorSpecific Requirements and thematic topics,
such as human rights.

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Our ESRM approach to project-related financing
is informed by internationally recognized
standards and frameworks, such as thosearticulated by the World Bank, the IFC and theEquator Principles, including the incorporationof relevant assessments and monitoring.
Higher-risk, project-related transactions receive
in-depth reviews by independent environmental
and social consultants to benchmark againstinternational standards. If gaps are foundbetween a client’s environmental and social
plans, policies or practices and the expectations
outlined in our ESRM Policy, we require the

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Responsible Sourcing

development of an Environmental and Social
Action Plan (ESAP) to fill the gaps. As a conditionof financing, we require the client to implement
the ESAP by specifying covenants in the loan
agreement, and we monitor its progress overtime, using an independent consultant whenneeded to conduct on-the-ground audits andreport back to lenders.

identification of business opportunities throughongoing monitoring and supervision.

See the appendix of our Environmental andSocial Policy Framework for more information
about the steps in our risk-screening process for
project-related finance transactions, from initial

Over the last few years, we have seen a rapid
increase in the volume and variety of transactions
flagged for ESRM review. This is due to a variety
of factors, including increased interest from

regulators on ESRM-related issues, the growthin ESG-related financial products and greater
engagement across the firm as employees
receive additional training and become moreaware of the potential environmental and social
risks in the transactions they are managing. The
ESRM team partners with internal colleagues
across the firm to respond to the increasing
attention and concern related to environmental
and social issues.

In addition, for non-project-related transactions
where risks have been flagged for ongoing
monitoring, our ESRM team uses ongoing client
engagement touchpoints to assess progress onenvironmental and social issues.

ESRM Policy at a Glance
Environmental and Social Policy Framework:

Our ESRM Sector-Specific Requirements apply to clients in sensitive sectors, including:

The ESRM Policy is summarized publicly in our Environmental and Social Policy Framework, which
includes the following:• Agribusiness• Firearms• Scope of our ESRM Policy• Coal Mining• Military Equipment• Coal-Fired Power• Mining• Descriptions of risk-screening practices and categories, independent reviews and action plans• Oil and Gas• Overviews of our Areas of High Caution, Sector-Specific Requirements and Policy Prohibitions

If a transaction impacts any of the following Areas of High Caution, ESRM will conductenhanced due diligence:
ESRM Policy scope:• Human rights, including environmental justice• Conflict risk (community-company conflict)

A transaction or client relationship may trigger the ESRM Policy for three reasons:• Indigenous rights• Biodiversity risk

• Involuntary resettlement• Cultural heritage

1

Transactions with Use of Proceeds directed to a specific physical asset or project2

Clients in sectors with ESRM Sector-Specific Requirements

3

Clients/transactions with risks to an Area of High Caution

The ESRM team reviews transactions subject to policy and benchmarks against relevant industry
standards and best practice, identifying opportunities for improvement and engagement.

Citi 2023 ESG Report

Our ESRM Policy also includes a number of prohibitions for environmental and social risks ofhighest concern, such as projects using forced labor or harmful child labor. Refer to the ESRM
section of our Environmental and Social Policy Framework for more information.

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Progress in the Agribusiness Sector
In 2023, to support implementation of the
ESRM Sector-Specific Requirements in the
Agribusiness sector, we increased our focus andinstitutional capacity related to environmental
and social risks in South America, especiallyrelated to drivers of deforestation, conversion
and human rights risks in the Amazon and othersensitive ecoregions, such as the Cerrado.
As part of this work, we engaged with several
clients across the Agribusiness sector tounderstand their practices to stop deforestationand conversion of forests, and to ensure respectfor human rights. At least one major market
player with which we engaged strengthened
its commitment and approach to these areas,
which provides a positive industry signal. We
have also seen an increase in client alignment
with certification standards referenced in the
ESRM Policy among downstream processors
and traders.

Client Engagement
Ongoing engagement with our clients is an
important part of our ESRM process. When
we first established our ESRM Policy, ourengagements were tied to specific, projectrelated financial transactions and their associatedenvironmental and social risks and mitigation
efforts. However, as we have developed SectorSpecific Requirements and Areas of High Caution
over the years, we have added corporate-level
reviews and client engagements in a number

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Serving Our Customers and Clients Responsiblyof sectors. These sector-specific risk review
processes encourage dialogue between Citi andour clients about the material environmental
and social risks associated with their operations,enabling us to develop a better understandingof prevailing industry practices and our clients’performance and to work with our clients toward
more sustainable practices to mitigate theserisks, as needed.
Furthermore, our ESRM team collaborates with
our Sustainability and Corporate Transitions(SCT) team to engage with clients working totransition toward more sustainable strategies
and business models. The SCT team delivers
advisory, corporate finance and banking
solutions to clients across all sectors to support
their goals related to sustainable, net zero andnature-positive solutions. The ESRM team’s
collaboration with the SCT team provides
opportunities for in-depth discussions ofspecific sustainability topics, identifies ways of
proactively mitigating environmental and social
risks, and supports our clients in their efforts tobuild more sustainable businesses. The breadthand depth of our ESRM team’s knowledge inthese areas is a valuable tool to help us assess
new transactions and to advise our clients. For
more information about the work Citi is doing tohelp clients transition to a low-carbon future,
see the Sustainable Finance section.

Diversity & Talent

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Appendices

Responsible Sourcing

Escalation of High-Risk Transactions and Clients
The first step in ESRM analysis of a transaction is to evaluate the level of risk related to the specificproject or client activity. If the environmental and/or social risks and the likelihood for adverse impacts
is too great and the client does not have appropriate policies and practices to avoid or mitigate risks,
the ESRM team can decline involvement in the transaction at initial review.
In more nuanced cases with high environmental or social risks but also a number of potentiallycompensating and mitigating factors, the ESRM team escalates the transaction to senior businessand risk managers for collective discussion on the risks and the client’s commitment and capacity to
manage and mitigate those risks. Citi may decline to move forward with a transaction after escalation,
or we may decide that we can move forward subject to certain explicit conditions for the client to meetin order to manage those risks appropriately.
In severe circumstances, where risks arise in existing client relationships to a level that cannot be
sufficiently mitigated, we may end the client relationship.

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Serving Our Customers and Clients Responsibly

Case Study: Ongoing Monitoring of Loan Requirements
Citi is part of a bank group providing financing to support operations of several gold mines located in a nonOECD country. Our due diligence identified a number of legacy environmental health and safety problems,
as well as a lack of alignment with international best practice. Prior to approval in 2022, Citi and the other
lenders required the company to bring its management systems into alignment with international standards
and agreed to conduct ongoing monitoring.

Diversity & Talent

Appendices

Responsible BusinessResponsible Sourcing

2023 Projects Covered by the
Equator Principles
Funded EP Project Finance
Loans Breakdown*

Funded EP Project-Related Corporate
Loans Breakdown*

By Sector

A

B

C

Total

By Sector

A

B

C

Total

Our Role: Throughout 2022 and 2023, Citi and other lenders continued to engage with the client as it

Oil and Gas

1

0

0

1

Infrastructure

2

0

0

2

hired an independent environmental and social consultant (IESC) and worked toward the due diligence andrisk mitigation steps described below.

Power

0

1

0

1

Mining

2

0

0

2

Other

1

0

1

2

Oil and Gas

1

0

0

1

By Region

A

B

C

Total

Other

1

3

1

5

U.S. and Canada

1

0

1

2

By Region

A

B

C

Total

Latin America

0

1

0

1

U.S. and Canada

0

1

0

1

Europe0000Latin America

2

0

1

3

Middle East andAfrica10

01Europe0101Asia Pacific

0

0

0

0

Middle East andAfrica40

0

4• Hiring a Director of Environment, Health and Safety with international expertise

By Country
Designation**

A

B

C

Total

Asia Pacific

0

1

0

1

• Implementing a workplace inspections program and training for compliance with healthand safety rules

Designated

1

0

1

2

By Country
Designation**

A

B

C

Total

Non-designated

1

1

0

2

Designated

0

2

0

2

By Independent
Review

A

B

C

Total

Non-designated

6

1

1

8

Yes

2

1

0

3

By Independent
Review

A

B

C

Total

No

0

0

1

1

Yes

6

3

0

9

No

0

0

1

1

Risks Identified: Potential risks identified through due diligence included worker safety due to alack of proper personal protective equipment (PPE), unclear management practices related to the use ofhazardous chemicals, and concerns about inadequate water management and impacts to local waterways.
Due Diligence and Risk Mitigation: In alignment with the lender requirements, theclient selected an IESC who performed a gap assessment of the company’s mining operations andenvironmental and social management system. The IESC created a report and timebound action plan withrecommendations for improving performance. The findings of this report have kicked off a transformational
effort for the company to improve its environmental and social management system, including:• Establishing an ESG department• Improving cyanide handling safety equipment and increasing the availability of first aid• Establishing targeted, daily safety inspections with an emphasis on the availability andproper use of PPE, resulting in improvements in the culture of PPE use• Rolling out a pilot program for improved tailings facility monitoring systems
Work is still needed to fully align with the Responsible Gold Mining Principles and the International Cyanide
Management Code. However, the mining company has reported improvements to its management systems
and occupational safety accident rates in 2023 compared with 2022. The IESC will conduct ongoing
monitoring in the coming years related to closing out the gaps identified in the action plan. Citi and theother lenders will review the findings and progress and will continue to engage the company on thesepriority issues.

Citi 2023 ESG Report

Note: Citi received external assurance of our Equator Principles data from SGS. For our SGS Assurance Statement, see the Assurance section.
Note: Citi had no EP Project Finance Advisories, Acquisitions or Refinancings in 2023.
* Projects are categorized as follows:
Category A: Projects likely to have potential significant adverse social or environmental impacts that are diverse, irreversible or unprecedented
Category B: Projects likely to have potential limited adverse social or environmental impacts that are few in number, generally site-specific,
largely reversible and readily addressed through mitigation measures
Category C: Projects likely to have minimal or no social or environmental impacts**D esignated Countries as defined by EP are OECD member countries on the World Bank High Income Country list, and Non-Designated are allother countries not meeting those two criteria. See the Equator Principles website for the current list.

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Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

ESRM Consultation Data
The ESRM team is consulted in the early stages of potential transactions, as wellas during select onboarding of new clients or annual review of existing clients in
sectors with ESRM Sector-Specific Requirements. The data on this page show thetotal transactions and client relationships screened by the ESRM team, regardless ofwhether a transaction proceeded to financial close.

ESRM Consultations

1,472
1,229

By Region

266

U.S. and Canada

267

Latin America

206
Europe169

Middle East
and Africa

693

219

 SRM Policy due diligence
E
Flagged for additional ESRM
due diligence under ESRM
Policy triggers

608

Global(multiple regions)

345
Asia Pacific

New transactions

142

Annual reviews

317

Sustainable finance products
Green bonds, sustainabilitylinked bonds or loans etc.

131
258

1,472
2023 Total

232
2022

Citi 2023 ESG Report

320
2023

By Sector
106 Agribusiness32

Infrastructure andTransportation

44

Manufacturing andIndustrials

235 Metals and Mining
Not subject to further
due diligence

258 Oil, Gas and Petrochem
114

Power
(Including Renewables)

46

Other

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Risk Management

Human Rights
Our Commitment
to Respect Human
RightsWe are committed to respecting human rights
wherever we do business. We engage with a rangeof stakeholders, such as employees, clients,
suppliers, peers, as well as human rights experts,
civil society organizations and investors, to support
our efforts to respect human rights in line with the
U.N. Guiding Principles on Business and Human
Rights — a global framework for preventing andaddressing the risk of adverse impacts on humanrights linked to business activity. The U.N. Guiding
Principles are informed by established international
human rights instruments whose principles Citi
endorses, such as the U.N. Universal Declarationof Human Rights and the International Labour
Organization’s (ILO) Core Conventions.
During the development and subsequent updatesof our Statement on Human Rights, we engaged
internal and external stakeholders to help assess
our actual and potential human rights impacts
and to identify the most salient human rights risks
faced by our employees, workers connected to our
supply chain and individuals who might be affectedby our clients’ operations.
Our Environmental and Social Risk Management(ESRM) Policy guides our approach to assessing
environmental and social risks related to financing
our clients’ business activities. Learn more about
our commitment to human rights and our approachto human rights protections:● Citi Statement on Human Rights

Climate Risk & Net Zero

Human Rights

Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly● Environmental and Social Risk Management
section● United Nations Guiding Principles Reporting
Framework Index

Our Salient Human Rights Risks
Citi has spent more than 15 years seeking tounderstand and mitigate the most salient humanrights risks related to our business, including theactivities of our clients and other business partners.
The most severe potential human rights risks posedby our clients’ activities, particularly in the context
of project-related finance, are identified under our
ESRM Policy. Project finance gives us the mostinsight into specific project details and the ability
to use environmental and social loan covenants to
help mitigate risk. We also screen for human rights
risks and engagement opportunities in other typesof corporate financing covered by our ESRM Policy
and in targeted ESRM portfolio reviews of highrisk sectors or geographies. See the full list of oursalient human rights risks and the stakeholders
they may impact in the adjacent table.

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Salient Human Rights Risks:
Stakeholder Impacts
The U.N. Guiding Principles Reporting Framework refers to a company’s “salient” human rights issues as
those that are at risk of the most severe negative impact through the company’s activities or business
relationships. This table illustrates which stakeholders could be impacted by the human rights risks wehave identified as most salient to our company. Shaded rows indicate risks related to the Areas of High
Caution defined in our ESRM Policy.

Human Rights Risks

Citi
Employees

Suppliers’
Employees

Customers
and ClientsThose Affectedby Clients’
Operations

Adequate standard of living;right to property
Conflict risk (induced byproject development)
Environmental justiceDiscrimination in the provisionof financial services
Diversity and inclusion;
discrimination in theworkplace

Employee Training

Indigenous Peoples

Human rights content is integrated into
ESRM training modules available to all
employees, and we provide employees who
are responsible for procurement and supply
chain activities with a training module on
modern slavery. In 2023, we required modern
slavery training for our UK colleagues
responsible for supply chain activities in thatcountry. This training focuses on the roleof financial services in eradicating modern
slavery and the processes and controls Citi
has in place to identify related risks.

Information security; privacy
Labor practices(including modern slavery)
Resettlement
Security practices● Environmental and Social Policy Framework
Citi 2023 ESG Report

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Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Respecting the Rights of Indigenous Peoples
Citi respects the collective rights of Indigenous Peoples,such as the right to self-determination, autonomy andparticipation in decisions that directly affect them.
Furthermore, Citi recognizes Indigenous Peoples’
distinctive spiritual relationship with their traditionallyowned or otherwise occupied and used lands andterritories, including the resources within these lands,
which are fundamental to ensuring their survival.
We recognize the unique historical challenges faced
by Indigenous Peoples and understand that theirlanguages, beliefs, cultural values and lands often face
threats placing them at a higher degree of vulnerability
than other communities. Our Environmental and Social
Risk Management (ESRM) Policy acknowledges thisvulnerability and outlines our approach to transactions
that may have the potential to impact Indigenous Peoples.

Our Commitment to Respecting
Indigenous Peoples’ Rights
Policy Commitments and Alignment
with International Frameworks
National governments bear primary responsibility
for safeguarding human rights, including Indigenous
Peoples’ rights. We acknowledge our corporate
responsibility to respect those rights wherever we dobusiness, in line with the U.N. Guiding Principles on
Business and Human Rights — a global frameworkfor preventing and addressing the risk of adverse
impacts on human rights linked to business activity.
The U.N. Guiding Principles are informed by establishedinternational human rights instruments whose principles
Citi endorses, such as the U.N. Universal Declarationof Human Rights and the International Labour
Organization’s (ILO) Core Conventions.

Citi 2023 ESG Report

Our ESRM Policy lies at the core of our strategy foraddressing risks to Indigenous Peoples that arise fromour clients’ activities. This Policy is informed by key
international environmental and social standards, suchas the U.N. Guiding Principles, the Equator Principles,
and the World Bank’s International Finance Corporation(IFC) Performance Standards.

document: (i) the mutually accepted process between
the client and Affected Communities of Indigenous
Peoples, and (ii) evidence of agreement between theparties as the outcome of the negotiations. FPIC does
not necessarily require unanimity and may be achieved
even when individuals or groups within the community
explicitly disagree.”Consistent with the precautionary principle of “dono harm,” the Citi ESRM Policy recognizes that there
are certain Areas of High Caution that require special
attention, focus and respect, such as risks to Indigenous
Peoples. For transactions that may impact these areas,
Citi proceeds only after a thorough and judicious
assessment of those risks and associated impacts,
as well as confirmation that appropriate mitigation
measures have been or will be designed.

— IFC Performance Standard 7, paragraph 12

This focus on robust due diligence and ongoingengagement with clients underscores our commitment
to upholding the U.N. Guiding Principles’ tenet ofbusiness’ responsibility to respect human rights,
including the rights of Indigenous Peoples.

Free Prior and Informed Consent (FPIC)The Citi ESRM Policy refers to the IFC PerformanceStandards, which explain the IFC’s approach to FPIC
as follows:“There is no universally accepted definition of FPIC. For
the purposes of Performance Standards 1, 7 and 8, ‘FPIC’
has the meaning described in this paragraph. FPIC builds
on and expands the process of Informed Consultation
and Participation (ICP) described in PerformanceStandard 1 and will be established through goodfaith negotiation between the client and the Affected
Communities of Indigenous Peoples. The client will

Our Due Diligence Process
We expect our clients to avoid infringing upon therights of and the protections for Indigenous Peoples
as required by applicable national laws, includinglaws implementing host country obligations underinternational law. When Citi identifies a potential risk to
Indigenous Peoples in our initial transaction screening,
the ESRM team may decline to approve the opportunity
outright (if the risks are deemed too high to address) oroutline the additional due diligence required and specify
the standards that must be met for the transaction toproceed. See below for how we conduct screening anddue diligence for potential risks to Indigenous Peoples in
our financial products and services.

Identifying Risks to Indigenous Peoples’
Rights in Project-Related Loans
In project finance or project-related corporate loans,
there is usually a longer due diligence period thanwith other financial products. With project-relatedloans, lenders have more access to information, moretime and loan structures that allow for engagement of
independent consultants, as well as the opportunity
to negotiate loan covenants requiring specific actionsof clients as a condition of financing. This allows formore effective evaluation and management of potential

risks to Indigenous Peoples in project-related loans,
as opposed to general corporate relationships, where
our ability to conduct due diligence and influence client
activities is more limited.
During the due diligence phase for project-relatedloans, we obtain project assessment information thatallows us to benchmark the project against relevant
standards. If a project does not align with our ESRM
Policy expectations, inclusive of relevant, long-standing
international standards, we will not approve financing
unless we can negotiate an Environmental and Social
Action Plan with the project sponsor. The purpose of
these plans is to address gaps with the ESRM Policy andappropriately avoid or minimize risks and mitigate any
residual risks in an acceptable time frame.
Citi uses extra caution and conducts enhanced due
diligence (which may require support by a qualified
independent social consultant) when financing projects
that have the potential to pose adverse effects to anarea used or traditionally claimed by an Indigenous
community, to their communal self-preservation basedon traditional ways of life or to their use or enjoyment ofcritical cultural heritage that is essential to their identity
and/or the cultural, ceremonial or spiritual aspects of
their lives.
Globally, in project-related lending for projects involving
involuntary resettlement of Indigenous communities,
significant impacts on land and natural resources
traditionally used by the community or significant
impacts on critical cultural heritage, we expect ourclients to have engaged in meaningful consultation withdirectly affected Indigenous Peoples, with the goal ofachieving FPIC.

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Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Respecting the Rights of Indigenous Peoples
Due Diligence Process
for Financed Projects
Project-related lending is often used
to construct large-scale industrial,
extractive or infrastructure projects,
which can have tangible environmental
and social risks. These projects requirecomprehensive environmental andsocial impact assessments, including
appropriate assessment of potential
adverse human rights impacts. In
project-related lending, the Citi ESRM
team conducts a deep dive into any
material environmental and social
risks pertinent to the project. Suchevaluations enable us to identify
potential adverse impacts on Indigenous
Peoples, allowing us to further engage
project sponsors to evaluate theirapproach to avoiding, minimizing and/or mitigating those risks in order torespect human rights. Additionally,
project finance structures enable us to
integrate specific requirements into loan
covenants to improve environmental
and social risk management for projects.
(This approach is not feasible in general
corporate purpose lending, where thefunds are not tied to a specific project.)

Citi 2023 ESG Report

1. Risk Screening

The Citi ESRM team:• Reviews preliminary project information to understand location- and sector-specific environmental and social risks• Categorizes the project according to the IFC risk categorizations A, B and C (note that projects with risks to the rights of Indigenous Peoples are most likely to be categorized as A,
which is the highest risk category, requiring the most due diligence and caution)• Conducts screening for negative environmental and social news and underlying controversies, using third-party data providers and internal research of public information, to identify
potential human rights risks

2. Geospatial
Analysis

The Citi ESRM team:• Uses databases such as LandMark and Global Forest Watch, to identify potential overlap or proximity of the project and its area of influence with Indigenous territories and sensitive regions

3. Review ofEnvironmental
and Social Impact
Assessment(ESIA) and/or
Independent
Consultant’s
Environmental
and Social Due
Diligence

In Category A project-related lending, a qualified Independent Environmental and Social Consultant (IESC) is required to review the project’s ESIA against applicable standards(which might include national laws, IFC Performance Standards and/or IFC Environmental Health and Safety Guidelines). In cases with sensitive Indigenous Peoples risks, aspecialized human rights or Indigenous Peoples consultant may also be required to support the IESC review, with appropriate expertise to assess respect of internationallyrecognized Indigenous Peoples’ rights.

4. Development ofEnvironmental
and Social Action
Plan (ESAP)

Where gaps between project sponsor plans and the ESRM Policy are identified, the ESRM team ensures that the independent consultant develops a time-bound ESAP. Dependent
on the project and gaps identified, the ESAP may, for example:• Ensure the project has an ongoing Stakeholder Engagement Plan and Grievance Mechanism in place• Include specific actions to prevent, mitigate and remedy negative impacts to Indigenous Peoples, with clear timelines for implementation and monitoring

5. LoanDocumentation

In the final stages of due diligence, the ESRM team:• Reviews loan documentation to determine if appropriate loan covenants, representations and warranties, and/or reporting requirements are included — if not, ESRM proposes
relevant additions• Dependent on the project and the financial structure of the loan, this may include a covenant to ensure implementation of the ESAP and the project’s Environmental and Social
Management Plan (inclusive of mitigation efforts), as well as reporting requirements to confirm ongoing alignment with ESAP requirements

6. Monitoring after
the financial
close of projects

When an ESAP is required, an independent consultant:• Monitors the client’s implementation of the ESAP through regularly scheduled site visits and provides monitoring report progress updates to lenders to ensure alignment withloan commitments

The Citi ESRM team:• Analyzes IESC reports to understand the risks, how to avoid such risks and mitigation of risks that cannot be avoided — including risks to Indigenous Peoples• Cross-references ESIA and/or IESC reports with findings from internal risk screening, to check that the project sponsor has identified potential human rights risks• Determines if conditions requiring FPIC are present, and if so, evaluates whether the project sponsor has conducted sufficient meaningful consultation with the goal of achieving FPIC• Discusses the report and internal findings with Citi bankers, as well as the bank syndicate, client and independent consultants, as appropriate to the transaction

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Climate Risk & Net Zero

Human Rights

Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Respecting the Rights of Indigenous Peoples
Due Diligence Process for
General Client Relationships
and Other Financial Products
Project finance and project-related corporate loans
represent only a small portion of our financing
activity and are where we have the most insightand potential influence over client activities. Citi
offers many other financial products and services
to clients, including general corporate purpose
loans, bonds (where we are not lending but instead
are facilitating investors to lend), advisory services,cash management, derivatives and more. We haveongoing relationships with clients, offering themdifferent types of financial products and services
over many years.
Although we do not have the same access to
information outside project-related financing, Citi
still applies our ESRM Policy Areas of High Caution
to identify potential risks to Indigenous Peoples.
When identified, regardless of the financial product,such clients or transactions are referred to our
ESRM team. The ESRM team conducts further due
diligence on the potential risks and reviews ourclients’ policies and practices, to avoid, minimize
and mitigate such risks. When called for, basedon the risks identified, we engage our clients tounderstand the implementation and effectivenessof their policies and whether they have adequate
staffing to manage these risks.

Citi 2023 ESG Report

1. Initial Risk
Screening

Citi bankers, risk managers and compliance officers:• Identify risks under our Areas of High Caution through our Know Your Customer (KYC) process, standard risk screening or annual credit reviews, and refer
those potential risks to our ESRM team for specialist review and consultation

2. Enhanced Due
Diligence

The Citi ESRM team:• Conducts geospatial analyses of the client’s assets to evaluate proximity to Indigenous territories and sensitive regions• Reviews the client’s human rights policies, community engagement policies, any specific Indigenous Peoples policies and sustainability reporting• Conducts screening for negative environmental and social news and reviews third-party data providers’ information to identify any other potential risks

3. Discussion andRecommendations

Where risks or concerns are identified, the Citi ESRM team:• Compiles due diligence questions for engagement and information gathering with the client’s relevant personnel• Makes recommendations, if relevant, to the client on human rights management systems and grievance system improvements

4. Conclusion

Based on the risks identified and the client’s actions to avoid, minimize and mitigate such risks, the Citi ESRM team:• Determines whether the transaction or client relationship aligns with the Citi ESRM Policy, and whether ongoing monitoring is required• May decline transaction opportunities or client onboarding if risks are too great or not adequately mitigatedPage 74ESG at Citi

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Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Diversity & Talent

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Appendices

Responsible Sourcing

Respecting the Rights of Indigenous Peoples
New Transactions Flagged for Potential
Risks to Indigenous Peoples

7 declined due to concerns
about risks to Indigenous
Peoples’ rights

In 2023, the Citi ESRM team flagged 37 transaction opportunities
with potential risks to Indigenous Peoples that required enhanced
due diligence prior to proceeding.

3 approved subject toongoing monitoring of risks
and/or client engagement

7of the 37 transactions were
project-related

3 project-related loans
16 approved following
satisfactory due diligence
reviews and/or client
engagement37

transactions flaggedwith potential risks to
Indigenous Peoples

5 did not proceed forreasons unrelated to
ESRM review
6 still pending at an
early stage of review

Existing Client Relationships
Flagged for Potential Risks to
Indigenous Peoples ThroughAnnual Review Process
In addition, in 2023, during our annual credit review
process, 16 clients were referred to the ESRM team forenhanced due diligence, in alignment with our ESRM
Policy’s Areas of High Caution.

Citi 2023 ESG Report

16
clients flagged at annual
credit review for risks related
to Indigenous Peoples

2 declined
1 approved with ongoing ESRM
monitoring requirement

4 other project-relatedtransactions (capital markets
and advisory opportunities)
1 declined
2 reviewed and approved afterdue diligence
1 still pending at an early stageof review

10 the ESRM team identified the need for ongoing
monitoring and/or client engagement to ensure risks
are adequately managed
6 the ESRM team reviewed and determined thatrisks are properly addressed by the client

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Respecting the
Human Rights of
Our Employees
Respect for diversity and inclusion is a highpriority wherever we operate. It can become aparticular concern in countries where there is nolegal protection against discrimination basedon gender, gender identity, race, ethnicity, age,religion, physical or mental disability or medical
condition, or sexual orientation, in addition
to a range of other essential characteristics
inherent to identity and personhood. Citi
prohibits discrimination and harassment of ouremployees in all forms, regardless of whether
individual protections are legally mandated in the
countries and communities where we operate.
In fact, we know that even in locations with
anti-discrimination laws, there is still a need forcompanies to ensure that they are doing theirpart to respect individual rights.
We expect every Citi employee to adhere to our
Code of Conduct, which includes a commitment
to human rights, prohibits discrimination andharassment, and promotes respect for the
personal beliefs, culture, identity and values ofevery individual. Citi expects all employees andthose providing services to Citi to respect the
principles of equal employment opportunity andcomply with all laws regarding fair employment
practices and nondiscrimination. Learn more
about our Diversity, Equity & Inclusion efforts
for employees in the Diversity, Equity & Inclusion
and Talent Management section.

Freedom of Association
Citi has employees who are represented byunions and works councils in a number ofcountries where we operate. In addition, aCiti 2023 ESG Report

Climate Risk & Net Zero

Human Rights

Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

portion of our employee population is coveredby collective bargaining agreements. We engage
directly with our employees and through theseassociations to discuss issues such as health andsafety, remuneration, work hours, training, careerdevelopment, work time flexibility and equal
opportunity. Information related to freedomof association is communicated to employees
through various mediums, including employee
handbooks, our intranet and employee emails.

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Disclosures Related to Modern Slavery
Our ESRM Policy prohibits financing any project for which our due diligence identifies the use of forcedlabor, harmful or exploitative child labor, or when the relevant labor forces have been subjected tohuman trafficking. We disclose our approach to identifying and mitigating the risks of modern slavery
in our operations (including client transactions) and in our supply chain. In response to legislation in
the UK and Australia, our Modern Slavery Statements for those two countries cover information about
our governance and policies related to modern slavery, risk assessment and due diligence processes,
and training.

Respecting Human
Rights in Our
Financing Decisions
Effectively evaluating human rights risks
related to our clients and the projects wefinance is a sensitive and important challenge.
To that end, we have established policies andpractices that help us consider the respect ofhuman rights as an integrated aspect of ourbusiness. For example, where a transaction’s
financial and legal structure allow it, we may
put loan covenants in place and monitor client
mitigation efforts through our ESRM Policy
implementation. Human rights concerns related
to a particular client or transaction may beescalated to the specialist ESRM team for review
and consultation, regardless of sector or financial
product. Our ESRM team may further escalate
human rights risks we identify to relevant
senior management reputation risk forums
or committees. In addition, our anti-money
laundering policies and practices help us avoid
business transactions with potential humanrights risks. However, there are times when thelink is less direct between our financial services
and human rights impacts. In these instances,
we work to improve our clients’ awareness andbusiness practices.
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Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Due Diligence in Client Transactions
Citi has thousands of corporate and institutional
clients. The U.N. Guiding Principles acknowledge
the challenges presented by extensive business
relationships, and we have adopted the approach
set out in the U.N. Guiding Principles of prioritizing
our human rights related due diligence in theareas where the risk is most significant from theperspective of the people who may be affected.

Identifying Human Rights Risks in Transactions

We use our ESRM Policy and review process toscreen transactions for social impacts, assess
and manage risks consistently and evaluate client
operations against a common set of standards
grounded in international best practices,
including those related to human rights. See theEnvironmental and Social Risk Management
section for details.

Project-related transactions: When humanrights risks are identified, the ESRM team might
decline to approve the opportunity outright (if therisks are deemed too high to address) or outline
what further due diligence would be needed andwhich standards would need to be met for thetransaction to proceed. If an opportunity progresses
to the due diligence phase, our requirements

Our ESRM team screens transactions under
the Citi ESRM Policy for potential human rights
risks, as outlined in the table below. Further data
related to ESRM Policy screening can be found in
the Environmental and Social Risk Management
section.

include gaining access to project assessment
information that allows us to benchmark according
to relevant standards with the support of a qualified
independent consultant. If a project is not alignedwith applicable international standards, we will
not approve financing unless we are satisfied thatthe client has appropriate plans and capacity to
mitigate project risks.
General corporate-level transactions(e.g., renewing revolving credit
facilities, issuing corporate bonds):

Although we do not have the same direct accessto information in general financing as we do inproject-related financing, we still identify sensitive

sectors where we screen for potential elevatedhuman rights risks. In addition, under our ESRM
Policy Areas of High Caution, if a human rights risk
is identified in any client sector for any financial
product, the transaction is referred to the ESRM
team for enhanced due diligence. When risks are
identified, we review our clients’ human rights
policies and practices and evaluate their ability to
avoid, minimize, manage and mitigate potential
risks. When needed, we also engage with ourclients to encourage strong disclosures, and tounderstand how they implement relevant policies
and whether they have adequate staffing tomanage these issues.

Access to Remedy
The U.N. Guiding Principles call on governments
and companies to play their respective roles inensuring that victims of human rights abuse haveaccess to effective remedy. Remedy can take manydifferent forms, including apologies, financial or
nonfinancial compensation, or efforts to prevent
future harm through policy commitments andchanges in operational practice.

Human Rights Risks Screened During Transaction Reviews

When we are made aware of potentially severe
adverse human rights impacts related to ourfinancing of a client, our approach to remedy
usually involves working with clients to ensure
they have the right policies in place and thatchannels are available to enable victims to lodge
grievances and have them properly tracked
and addressed. In line with our prioritization ofadverse risks and impacts based on severity, we
will encourage clients to follow up on allegations
and to have established processes to offer remedy
or to cooperate with authorities to make sureeffective remedy is provided.

Indigenous Peoples: Concerns regarding the extent to which Indigenous communities are consulted during project development and have consented to impacts
to their land, livelihood and cultural heritage

Citi 2023 ESG Report

Conflict Risk: Project-induced conflict risk, which may be tied to competition for resources or land
Cultural Heritage: Properties and sites of archaeological, historical, cultural, artistic and religious significance; unique environmental features and cultural
knowledge; intangible forms of culture embodying traditional lifestyles
Environmental Justice: Potential environmental risks to historically marginalized communities, especially surrounding industrial developments

Labor Risks: Risks related to labor forces used in the construction of projects or other operations, including those associated with forced labor, child labor andhuman trafficking by project operators and their subcontractors
Resettlement: Resettlement of local communities, including Indigenous groups, as necessary for project implementation; requires resettlement action plans andshould include efforts to gain the free, prior and informed consent of Indigenous communities
Security Practices: Concerns about how project sponsors engage with public or private security forces protecting project sites
Water: Project-related impacts that hinder access to water or negatively affect water quality for local communities

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Case Study: Combating Sexual Harassment andGender-Based Violence
Citi has processes and standards in place to review project-related transactions and clients in sensitive
sectors for potential human rights risks. If needed, the Citi ESRM team will also initiate a due diligence
review when a client triggers an ESRM Area of High Caution outside the scope of our traditional projectand sector-based reviews. The following is one such example.

Human Rights Concerns: In 2023, negative allegations related to a Citi agribusinessclient came to the attention of the Citi client relationship managers. Media accounts raised concerns
regarding sexual harassment and gender-based violence at the client’s plantations in Africa. These
accusations triggered the Citi ESRM Area of High Caution related to human rights, prompting enhanced
due diligence.

Due Diligence: To better understand the allegations and the client’s response, the Citi ESRM
team prepared an extensive list of due diligence questions related to gender-based violence andharassment prevention and approaches to remedy, informed by the IFC Guidance Note on Addressing
Gender-Based Violence and Harassment. The Citi ESRM team used the IFC guidance as a benchmark
to understand where the client could improve its management systems related to gender-based
violence and harassment. We also engaged with the client’s senior management to dive deeper into
how the company intends to provide remedy to those impacted and to prevent future instances ofgender-based violence and sexual harassment on its plantations.

Resolution: The client committed to an action plan requiring it to revise its policy in line with IFC
guidance and undertake additional mitigation actions. These include conducting a broader humanrights impact assessment across its other plantations and expanding the scope of supplier codes ofconduct and grievance mechanisms to better address gender-based violence and sexual harassment.
Citi also recommended that the client collaborate further with human rights organizations to addressthese concerns, and we will continue to engage with the company to discuss progress on the action
plan throughout 2024.

Citi 2023 ESG Report

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Listening to
Stakeholders
and Addressing
Grievances

Engaging Stakeholders

Reporting Mechanisms for Stakeholders

To ensure that we are living up to ourcommitment to respect human rights andto help identify emerging risks, we regularly
communicate our approach externally, engage
with stakeholders on their issues of concern
and work to advance respect for human rights
more broadly.

The Citi Ethics Hotline provides different
channels for employees and any third party,
including members of the general public, toreport concerns about unethical behavior to our
Ethics Office. In addition to internal and publicfacing websites that facilitate submission ofconcerns, a telephone line is available 24 hours
a day, seven days a week, with live operators
who can connect callers to translators in
multiple languages.

Although banks are often under pressure todisclose specific findings related to client
projects, we are bound by legal requirements
related to confidentiality that limit our ability
to disclose such information. We must respect
the requirements for client confidentiality in thebanking sector, while still upholding rigorous
implementation of our ESRM Policy, engaging
clients and identifying solutions to humanrights challenges.

We also assess our clients’ grievance
management in project-related finance. This
includes a review of the project sponsor’s
stakeholder engagement process, as well as its
operational-level grievance mechanisms thatallow affected communities to raise concerns
proactively with the project developers.

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Serving Our
Customers
and Clients
Responsibly
We have policies and systems in place to help
ensure that we treat customers responsibly
and fairly, such as our Code of Conduct and theinternal checks and balances we employ whencreating products.

Responsible
Marketing
Citi offers clients an array of products andservices based on their needs, wants andpreferences, while adhering to our internal
policies and procedures as well as applicablelaws and regulations. We work diligently toclearly disclose all features and terms andconditions for our products and services,
including applicable fees and charges, so thatclients can select the products or services best
suited to them.
New products are approved by cross-functional
committees that include senior executives
from Risk, Legal, Independent Compliance
Risk Management and other relevant units. In
addition, Wealth and U.S. Personal Banking
maintain processes for handling customer
complaints and concerns in a timely andeffective manner, in line with our commitment toprovide financial services responsibly and treat
customers fairly.

Citi 2023 ESG Report

Climate Risk & Net Zero

Human Rights

Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

To aid colleagues involved with the development
and marketing of Citi products and services,
we provide internal resources to support
responsible communication. These resources
include the Citi Style Guide and the Citi
Accessibility Guide, which promote consistency
in language across the firm and digital designs
and language that are accessible, inclusive andrespectful. In addition, some marketing creatorsand developers have access to an Americans
with Disability Act (ADA) Playbook and an
Accessibility Assessment Guide.
We also pursue purposeful sponsorships that
we hope will help have a positive societal impact
and leave a legacy in the communities we serve.
For example, Citi has worked with Global Citizen
since 2012 to help promote sustainable businesspractices and support efforts to address poverty.
Through this sponsorship, we support Global
Citizen events throughout the year, including
taking part in panels that amplify our thought
leadership on issues such as food security andthe transition to a low-carbon economy.
In addition, Citi sponsors the Fifteen Percent
Pledge, a nonprofit committed to closing
the racial wealth gap in retail. In 2023, Citi
presented the Shop Black campaign, which
the Fifteen Percent Pledge estimates drove$1 million in incremental revenue for Blackowned businesses. We used our marketing
channels, including Citi Bike® and our ATM
screens, to help promote and drive traffic tothe campaign, which helped raise awarenessand increase sales for participating businesses.
Our support in 2023 also included financial
education events, which focused on candid
conversations around access to capital for Blackbusiness owners. We also sponsored a speaking
engagement on entrepreneurship and career

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Designing for Accessibility
Citi strives to provide products and services that meet the accessibility needs and preferences of all ourclients. We offer braille and talking ATMs, large-print and braille statements and raised-line checks
for those with visual disabilities. We also accept calls through 711 and other telecommunications relay
services. In addition, we have developed fully accessible explanatory videos for our U.S. Branded
Cards business to enhance customer comprehension of key topics. This includes real-time descriptive
transcripts, embedded closed captions and content readability.
Our public-facing digital content in the U.S. market conforms to the internationally recognized Web
Content Accessibility Guidelines (WCAG). This standard helps ensure that persons with disabilities caneffectively navigate our websites, apps, emails, banner ads, video ads and other digital content. The Citi
Digital Accessibility Center of Excellence (DACE) provides colleagues with expert resources related tothe design, development and testing of digital products for compliance to ADA principles as outlined in
WCAG. Our DACE subject matter experts educate colleagues on digital accessibility principles and how
they can incorporate these principles in their work.

development for students in the business schoolat Howard University, featuring the founder of
the Fifteen Percent Pledge, Aurora James.

Treating Customers
FairlyWe strive to adhere to high ethical standards,
to earn and maintain the public’s trust and todeliver products and services that provide value,
clarity and dependability, in line with our Treating
Customers Fairly principles.
For example, many of our services are provided
in multiple languages to support the diverse
populations we serve, and our products are
tailored to meet the needs of the individuals in
the countries where we do business.

Our Treating Customers Fairly
Principles• Works as described: Consumers
can predict how products and services
will work.
• Appropriate: Citi offers products
and services that are appropriate for
consumers and meet their needs.
• Value: Consumers receive value thatis reasonably related to the cost of the
products and services.
• Ease of understanding: Consumers
understand the terms and conditions of
the products and services (particularly
limitations and exclusions).

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Risk Management

Reducing Customer Fees
Building on the elimination of overdraft
fees in 2022, we removed additional feesin 2023, including those related to clericalresearch and requests for copies of bankstatements and canceled checks.

In addition, our chosen name feature wasdesigned to solve key pain points for ourtransgender and nonbinary customers. It gives
Citi customers the option to use their chosen
first name on their eligible card and within ourservicing channels, without requiring a legalname change. All customers with eligible U.S.
Branded credit cards and U.S. debit cards canleverage this feature. As of the end of 2023, morethan 42,000 customers had updated their firstnames on their physical cards.
Furthermore, in 2023, our U.S. Retail Bank
introduced simplified banking to help customers

Citi 2023 ESG Report

Climate Risk & Net Zero

Human Rights

Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

reach their financial potential and continue
to make banking more accessible. To help
freelancers and non-traditional workers accesslow-cost personal checking accounts, we accept
payments through Zelle and other peer-to-peer
platforms as qualifying direct deposits to waive
monthly service fees. Additionally, we simplified
our family linking policy to help families —
especially multigenerational families — livingin the same household to access more benefits
and services by linking their accounts andaggregating their balances.
Our Global Consumer Fairness Policy provides
a framework for reviewing consumer fairness
concerns and a sustainable model for
managing emerging risks. The policy covers
new product development, marketing, sales(including variable incentive compensation),underwriting and onboarding, and all otheraspects of the consumer product and services
life cycle. This also includes expected controls,
such as Legal or Compliance review of ouradvertising and marketing to ensure it is clear,truthful and not misleading.
Our Global Financial Access Policy establishes
the guiding principles and minimum standards
for fair, equitable and nondiscriminatory accessto the goods, products, services, facilities,
privileges, advantages or accommodations that
Citi provides to customers and clients. Further,
it prohibits discrimination against actual orprospective clients on the basis of race, ethnicity,sex (which encompasses gender as well as
sexual orientation, gender identity and gender
expression), religion, national origin, disability
or other prohibited factors. This commitment

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

is backed by training, processes, controls andoversight to help prevent discrimination.
We provide annual training and have measuresin place to monitor sales practices, including
auditing and metrics that assess client risk
profiles.
For Wealth and U.S. Personal Banking clients,
Citi has a Global Complaints Standard and aformal complaint handling and governanceprogram to ensure proper controls around
identification, capturing and monitoring of
consumer complaints, including those submitted
to regulators. A global complaint forum assesses
complaint volume trends, issues and theappropriate actions needed to address areas ofpotential risk. Allegations of discrimination orcomplaints that meet specific fairness triggers
are escalated for review, to determine whether
the allegations are substantiated.
We also have formal escalation processes to ourgovernance committees and Board of Directors
to facilitate consistent, timely and appropriate
identification, analysis and escalation ofpotential consumer fairness and reputationaland franchise risk issues.

achievement of business results that adhere
to internal policies and our Code of Conduct.
We also routinely evaluate incentive plans,
training content, controls, monitoring results
and oversight activities to maintain a sales
force that delivers on our commitment to serve
our customers with fairness, value, clarity anddependability.
As part of our program, employees in our fivecore businesses (Services, Markets, Banking& International, Wealth and U.S. Personal
Banking) complete annual Treating Customers
Fairly training. The 2023 training was assigned
to approximately 62,000 Citi employees
globally. The training focuses on identifying
and escalating fairness issues and shows how
fairness influences real-world results.
We also hold a Fair and Inclusive Banking off-sitetraining with senior management from across thecompany, to deepen their understanding of fairlending and consumer fairness.

Employee Incentive Programs,
Training and Engagement
We consider alignment with our Treating
Customers Fairly principles when developing
the variable incentive plans of our employees
in businesses covered by the Global Consumer
Fairness Policy. For example, we use client
satisfaction metrics, where available, along withother product-based metrics, to encourage

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Climate Risk & Net Zero

Human Rights

Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

Responsible
Sourcing
Our Supply Chain Development, Inclusion andSustainability Team (SCDIS) leads our efforts insupport of our responsible sourcing priorities, which
include:● Building supplier capacity through training anddevelopment opportunities● Supporting and expanding opportunities forsmall and certified diverse suppliers● Encouraging supply chain sustainability
practices
The SCDIS team has created a Best Practice Series,
working with industry experts, including othercorporations and nongovernmental organizations, tohighlight supplier diversity and other sustainability
considerations, such as environmental management,
health and safety, human rights, modern slavery andlabor practices, among others. We record and sharethe information presented through the series so thatcolleagues across Citi with similarly focused work canbenefit from the knowledge shared in these sessions.
For example, in 2023, Citi Supplier Diversity
partnered with Deloitte, the International Labour
Organization and the Organisation for Security andCo-operation in Europe to create three awarenesssessions, focused on the following topics:● Trending ESG considerations related to
procurement● Global trends and key developments in
responsible business conduct and human rights
due diligence● Human trafficking and labor exploitation in the
supply chain

Citi 2023 ESG Report

Supplier Policies
The following standards and policies guide responsible sourcing initiatives
and communicate our expectations on environmental and social issues toour suppliers:• The Citi Requirements for Suppliers, available in 14 languages, provides
detailed processes and procedures that our suppliers must follow forcontractual compliance and information about other key Citi policy
obligations. We review and update these standards regularly to reflectchanging standards, policies and best practices.

• The Citi Statement of Supplier Principles outlines the aspirationalguidelines for our sustainable supply chain initiatives, including thoserelated to human rights, ethical business practices and environmental
sustainability.
• We also ask suppliers to abide by the Citi Statement on Human Rights
and expect awareness of and accountability to local regulatory
requirements, for example and not limited to the UK and Australia
Modern Slavery Acts. For more information about our approach in thisarea, see the Human Rights section.

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$354M
$432M
$599M

2022

$446M

2023

Tier 1 certified women-owned suppliers
2020

$155M

2021

$172M

2022

$189M

2023

$172M

The SCDIS team leads our efforts to ensurethat certified diverse suppliers are included
in our supplier screening, engagement
and selection process. The team helps to
identify diverse suppliers and emphasizes theimportance of engaging with them.

All Tier 1 certified diverse suppliers**
2020

$875M
$1.2B

2021

$1.3B

2022
2023

$1.1B

* Tier 1 suppliers are those Citi procures goods and services from directly.
** This includes spend with many types of certified diverse suppliers, including Black- and women-owned firms.

Citi 2023 ESG Report

Responsible Business

Appendices

Responsible Sourcing

Citi is committed to conducting business in a fairand equitable manner around the world. Creating
and maintaining close working relationships
with small and certified diverse suppliers isan essential part of our commitment to help
strengthen the communities we serve. To bea part of the Citi Supplier Diversity program,a supplier must have diverse certificationfrom a certifying agency or an equivalentconfirmation of diversity from a local, state or
national government, in addition to meeting thestandard criteria established for all Citi suppliers.
Diverse suppliers are those that are majority
owned, operated, managed and controlled
by women or racial, ethnic or other minorities(including veterans, individuals with disabilities
and members of the LGBTQIA+ community),
depending on the region/country.

Tier 1 certified Black-owned suppliers

2021

Diversity & Talent

Connecting Diverse
Suppliers to Our
Business

Citi Spending with Tier 1* Certified
Diverse Suppliers

2020

Building Equitable & Resilient Communities

by tracking our annual spend with diverse
suppliers. In 2023, Citi earned a seat at theBillion Dollar Roundtable — a list of U.S.-based
corporations that voluntarily spend $1 billion ormore annually with certified diverse suppliers.
We are also working to increase spending withcertified women-owned businesses, with
continued emphasis on supporting women who
work in developing countries.
We partner within Citi and with externalorganizations to complement our internal
program and create opportunities for additional
suppliers. For example, in 2023, we participatedin networking and identifying certified diverse
firms through participation in the National
Minority Supplier Development Council(NMSDC) Conference & Exchange, and attending
matchmaker sessions via NMSDC, New York& New Jersey Minority Supplier Development
Council (NYNJMSDC), New York National LGBT
Chamber of Commerce, Minority Supplier
Development UK, Women’s Business Enterprise
National Council (WBENC) and WEConnect
International.

Supplier Diversity is embedded as part of ourstrategic sourcing organization to provide
opportunities for firms that have the size, scaleand scope to meet our requirements while
also working to support the consideration ofbusiness owners in underserved communities
that might not traditionally have opportunities
with large firms. We use our membershiporganizations to deepen our program throughpartnerships, mentoring, networking andreporting. One way we measure progress isPage 82ESG at Citi

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Building Capabilities
of Diverse Suppliers
Citi provides U.S.-based small firms and certified
women-, veteran-, disability-, LGBTQIA+- andminority-owned businesses access to business
opportunities, training and mentoring. For
example, Citi helps small and certified diverse
suppliers understand our ESG priorities. We
identify certified diverse suppliers, as well as
small businesses that can meet our supply chain
needs, and work to build their capabilities, often
through learning opportunities or in partnershipwith entities that have mutual interests andcommitment. Highlights from 2023 include:● Providing opportunities for diverse suppliers
to learn best practices for working with
Citi, including collaborating with internal
stakeholders to launch the inaugural
Prepare to Partner Program, which supports
diverse suppliers in enhancing readiness forthird-party due diligence● Collaborating with the NYNJMSDC to host the13th annual Sustainability Symposium — aforum to generate awareness of ESG issues
and the related impact on businessesof all sizes, with particular emphasis on
pending global regulations and supply chain
considerations● Engaging with suppliers and the broader
industry at thought-leadership forums,
including the annual WBENC and NMSDC
conference and the Conference in Diversity
and Inclusion for Sustainable Growth at theConsulate General of India in New York

Citi 2023 ESG Report

Climate Risk & Net Zero

Human Rights

Sustainable Operations

Building Equitable & Resilient Communities

Serving Our Customers and Clients Responsibly

Diversity & Talent

Responsible Business

Appendices

Responsible Sourcing

A Global View of Supplier Diversity
We undertake a broad range of activities to expand our base of diverse suppliers. Although we are a U.S.-based company, we take a global view of supplier diversity,
striving to make a positive economic impact in communities and to reduce economic inequalities around the world. Below are a few examples of this work.
MexicoWEConnect International is an organization that helps to connect women-owned businesses with buyers globally. Citi works closely with WEConnect Internationalin Mexico to engage with and increase our spend with women-owned businesses in that country. In 2023, we supported efforts to increase supplier participation
and recertification with WEConnect International. We also participated in local WEConnect International matchmaker sessions to introduce women-owned firms
to Citibanamex managers who might have a need for the skills and expertise these firms provide. In 2023, Citi spent $17 million with women-owned suppliers in
Mexico, an increase from $15 million in the prior year.
We are also continuing our work to advance supplier diversity more broadly in Mexico, including for the LGBTQIA+ community. In addition, we provide our local
sourcing managers with opportunities to participate in ESG forums and monthly best practices sessions related to supplier diversity and supply chain sustainability.
South Africa

Citi supports the Broad-Based Black Economic Empowerment (B-BBEE) program in South Africa. We achieved a Level 1 for our B-BBEE Scorecard in 2023 due, inpart, to our work to empower Black-owned and Black-women-owned businesses by supporting ongoing business growth and providing mentoring opportunities.
We partner with WEConnect International and the South African Supplier Diversity Council to expand our potential for positive impact in this region.

Sustainable
Procurement
The SCDIS team continues to learn about our
suppliers’ supply chain sustainability practices
and their ability to manage critical issues throughthe Corporate Responsibility Questionnaire(CRQ). The CRQ serves as an assessment tool
to evaluate whether our suppliers are adhering
to regulatory requirements related to modern
slavery, as well as Citi expectations related tohuman rights and labor practices.
In addition, Citi works to reduce environmental
impact in our supply chain through the following
focus areas: paper and paper products,
information technology (IT) hardware ande-waste disposal, and travel and logistics. We
have developed actions for each of these areasand incorporated them into our Supply Chain
Global Operating Procedures.
Highlights from 2023 included:● Paper and Paper Products: We arecontinuing to work toward a transition to
FSC-certified paper for the outer envelopes
used for our statements and customer
communications.

gas reduction of approximately 28,000
metric tons of CO2 over the life cycle of the
products.
● Travel and Logistics: See theSustainable Operations section for
information about our efforts related toefficient business travel.

● IT Hardware and e-Waste Disposal:
As a result of choosing EPEAT-certified
options for our servers, laptops, desktop
computers, monitors and mobile phones
in 2023, we estimate an energy savings ofnearly 128 million kWh and a greenhouse

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United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Sustainability AccountingStandards Board Index

AppendicesThis index was prepared with reference to the Industry Standards (Version 2023-06) issued by the
Sustainability Accounting Standards Board (SASB). The disclosures below relate to three financial
sector standards aligned to our mix of businesses: Commercial Banks, Consumer Finance andInvestment Banking & Brokerage. Unless otherwise noted, data and descriptions apply to our entire
company, not just the businesses relevant to that sector. We do not yet disclose all metrics included in
the sector standards, but we will continue to evaluate their relevance to our business. All data is as ofand for the year ended December 31, 2023, unless otherwise noted.

Commercial Banks
Topic

Accounting
MetricCategory

Code

Report Section or Other
Documentation

Data
Security(1) Number ofdata breaches, (2)percentage thatare personal data
breaches,(3) number ofaccount holders
affected

Quantitative

FN-CB-230a.1

For reasons driven by operational
security, Citi generally does not
publicly disclose details regarding
security incidents unless otherwise
required by law. Our approach to
cybersecurity is detailed in thisreport, including our approach to
cybersecurity breaches.
• Risk Management >Safeguarding Data andProtecting Customer
Information

Description of
approach toidentifying andaddressing data
security risks

Discussion
and Analysis

FN-CB-230a.2• Risk Management >Safeguarding Data andProtecting Customer
Information

Jakarta, Indonesia

Citi 2023 ESG Report

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Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Topic

Accounting Metric

Category

Code

Report Section or Other Documentation

Financial Inclusion &Capacity Building(1) Number and (2) amount of loans
outstanding qualified for programs designed
to promote small business and community
development

Quantitative

FN-CB-240a.1

Citi does not disclose this but information about our work in this area can be found below.
• Building Equitable & Resilient Communities• Addressing Financial Inclusion and the U.S. Racial Wealth Gap• Citi Impact Fund
• Citi Community Capital Website(1) Number and (2) amount of past due
and nonaccrual loans or loans subject toforbearance that qualify for programs designed
to promote small business and community
development

Quantitative

FN-CB-240a.2

Citi does not report this information.

Number of no-cost retail checking accounts
provided to previously unbanked orunderbanked customers

Quantitative

FN-CB-240a.3

Citi offers the Access Account — a simple, checkless bank account with low or no monthly
fees and no overdraft fees, which provides customers with a straightforward way tosave money and manage their finances. As of Dec. 31, 2023, there were 398,532 active
Access checking accounts. This figure excludes high-yield savings accounts. In 2022, Citi
eliminated overdraft fees, returned item fees and overdraft protection fees, representing
the Company’s continued commitment to expand access to inclusive banking products
and services that can help advance economic progress, especially for underbanked andunbanked communities. In addition to eliminating these fees, Citi will continue to offer
a robust suite of free overdraft protection services for its consumers. Citi does not track
whether account holders were formerly unbanked/underbanked.
• Serving Our Customers and Clients Responsibly > Treating Customers Fairly• Access Account webpage• Citi Retail Banking Overdraft Fees Change

Incorporation of ESG
Factors in Credit Analysis

Number of participants in financial literacy
initiatives for unbanked, underbanked, or
underserved customers

Quantitative

Commercial and industrial credit exposure, by
industry

Quantitative

FN-CB-410a.1• 2023 10-K page 74-78

Description of approach to incorporation ofenvironmental, social, and governance (ESG)
factors in credit analysis

Discussion andAnalysis

FN-CB-410a.2• Risk Management > Environmental and Social Risk Management

FN-CB-240a.4

We do not track the number of participants in financial literacy initiatives but examples ofour efforts with underbanked communities are below.
• Citi Volunteers Around The World• Environmental and Social Policy Framework• 2023 10-K pages 122-123• 2023 Citi Climate Report pages 38-42

Citi 2023 ESG Report

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Building Equitable & Resilient Communities

Diversity & Talent

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Appendices

Assurance

Topic

Accounting Metric

Category

Code

Report Section or Other Documentation

Financed Emissions

Absolute gross financed emissions,disaggregated by (1) Scope 1, (2) Scope 2 and(3) Scope 3

Quantitative

FN-CB-410b.1• Managing Climate Risk in Our Operations

Gross exposure for each industry by asset class

Quantitative

FN-CB-410b.2

Citi does not report this information.

Percentage of gross exposure included in thefinanced emissions calculation

Quantitative

FN-CB-410b.3

Citi does not report this information.

Description of the methodology used to
calculate financed emissions

Discussion andAnalysis

FN-CB-410b.4• 2023 Citi Climate Report pages 61-63

Total amount of monetary losses as a resultof legal proceedings associated with fraud,insider trading, antitrust, anti-competitive
behavior, market manipulation, malpractice,or other related financial industry laws or
regulations

Quantitative

FN-CB-510a.1

Citigroup is a public company and, as such, files periodic and current reports with the U.S.
Securities and Exchange Commission (“SEC”), as required by the Securities Exchange
Act of 1934. The reports include current descriptions of material regulatory proceedings,
investigations, and litigation. Copies of Citigroup’s periodic and current reports are on filewith the SEC and available at www.sec.gov.

Description of whistleblower policies andprocedures

Discussion andAnalysis

FN-CB-510a.2

Global Systemically Important Bank (G-SIB)
score, by category

Quantitative

FN-CB-550a.1

Description of approach to integrate resultsof mandatory and voluntary stress tests
into capital adequacy planning, long-term
corporate strategy, and other businessactivities

Discussion andAnalysis

FN-CB-550a.2• 2023 10-K pages 31-34(1) Number and (2) value of checking andsavings accounts by segment: (a) personal and(b) small business

Quantitative

FN-CB-000.A

Citi does not report this information.

(1) Number and (2) value of loans by segment:(a) personal, (b) small business and (c)corporate

Quantitative

FN-CB-000.B

Citi discloses the value of outstanding consumer and corporate loans in its 10-K.
Consumer loans are reported as consumer mortgages and credit card loans, while
personal, small business and other loans are aggregated.

Business Ethics

Systemic Risk Management

Activity Metric• 2023 Citi Climate Report pages 50-51• 2023 10-K pages 303-309• Human Rights > Reporting Mechanisms for Stakeholders• Citi Code of Conduct pages 9-10
• 2023 10-K page 33• 2023 Systemic Risk Report (FR Y-15)• 2023 10-K pages 86-88

Citi 2023 ESG Report

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Sustainability Accounting Standards Board Index

Climate Risk & Net Zero

Sustainable Operations

United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Consumer FinanceTopic

Accounting Metric

Category

Code

Report Section or Other Documentation

Customer Privacy

Number of account holders whose information
is used for secondary purposes

Quantitative

FN-CF-220a.1

Citi does not report this information.

Total amount of monetary losses as a result oflegal proceedings associated with customer
privacy

Quantitative

FN-CF-220a.2

Citigroup is a public company and, as such, files periodic and current reports with the U.S.
Securities and Exchange Commission (“SEC”), as required by the Securities Exchange
Act of 1934. The reports include current descriptions of material regulatory proceedings,
investigations, and litigation. Copies of Citigroup’s periodic and current reports are on filewith the SEC and available at www.sec.gov.
• 2023 10-K pages 303-309

Data Security

Selling Practices(1) Number of data breaches, (2) percentagethat are personal data breaches, (3) number ofaccount holders affected

Quantitative

FN-CF-230a.1

See response to FN-CB-230a.1.

Card-related fraud losses from (1) card-notpresent fraud and (2) card-present and other
fraud

Quantitative

FN-CF-230a.2

Citi does not aggregate and publicly disclose losses due to fraud.

Description of approach to identifying andaddressing data security risks

Discussion andAnalysis

FN-CF-230a.3

See response to FN-CB-230a.2.

Percentage of total remuneration for covered
employees that is variable and linked to theamount of products and services sold

Quantitative

FN-CF-270a.1

Citi does not track this information.

Approval rate for (1) credit and (2) pre-paid
products for applicants

Quantitative

FN-CF-270a.2

Citi does not report this information.

(1) Average fees from add-on products, (2)average APR of credit products, (3) average ageof credit products, (4) average number of credit
accounts, and (5) average annual fees for prepaid products

Quantitative

FN-CF-270a.3

Citi does not track this information.

(1) Number of customer complaints filed, (2)percentage with monetary or nonmonetary
reliefQuantitative

FN-CF-270a.4

Citi does not report this information.

Total amount of monetary losses as a result oflegal proceedings associated with selling andservicing of products

Quantitative

FN-CF-270a.5

Citigroup is a public company and, as such, files periodic and current reports with the U.S.
Securities and Exchange Commission (“SEC”), as required by the Securities Exchange
Act of 1934. The reports include current descriptions of material regulatory proceedings,
investigations, and litigation. Copies of Citigroup’s periodic and current reports are on filewith the SEC and available at www.sec.gov.
• 2023 10-K pages 303-309

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Climate Risk & Net Zero

Sustainable Operations

United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Topic

Accounting Metric

Category

Code

Report Section or Other Documentation

Activity Metric

Number of unique consumers with an active (1)credit card account and (2) pre-paid debit card
account

Quantitative

FN-CF-000.A

Citi discloses the number of new retail banking and credit card account acquisitions. Citi
does not disaggregate credit card and prepaid debit card accounts nor report uniqueconsumers.
• 4Q23 Quarterly Financial Data Supplement page 9

Number of (1) credit card accounts and (2) prepaid debit card accounts

Quantitative

FN-CF-000.B

Citi discloses the number of new retail banking and credit card account acquisitions. Citi
does not disaggregate credit card and prepaid debit card accounts.
• 4Q23 Quarterly Financial Data Supplement page 9

Investment Banking & Brokerage
Topic

Accounting Metric

Category

Code

Report Section or Other Documentation

Employee Diversity &Inclusion

Percentage of (1) gender and (2) diversity grouprepresentation for (a) executive management, (b)non-executive management, (c) professionals,
and (d) all other employees

Quantitative

FN-IB-330a.1• Our Approach to Diversity, Equity & Inclusion and Talent Management > 2025
Aspirational Representation Goals by the Numbers• Our Approach to Diversity, Equity & Inclusion and Talent Management > Diversity at
the Top: Senior Leader Representation• Our Approach to Diversity, Equity & Inclusion and Talent Management > Recruit,
Retain and Promote• Global Workforce Data
• U.S. Workforce Data

Incorporation of ESG
Factors in Investment
Banking & Brokerage
Activities

Citi 2023 ESG Report

Revenue from (1) underwriting, (2) advisory, and(3) securitization transactions incorporating
integration of environmental, social, andgovernance (ESG) factors, by industry

Quantitative

FN-IB-410a.1• Our $1 Trillion Goal

(1) Number and (2) total value of investments andloans incorporating integration ofenvironmental, social, and governance (ESG)
factors, by industry

Quantitative

FN-IB-410a.2• Our $1 Trillion Goal

Description of approach to incorporation ofenvironmental, social, and governance (ESG)
factors in investment banking and brokerage
activities

Discussion andAnalysis• Risk Management > ESRM Consultation Data

FN-IB-410a.3• Our $1 Trillion Goal
• Risk Management > Environmental and Social Risk Management• Environmental and Social Policy Framework

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Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Topic

Accounting Metric

Category

Code

Report Section or Other Documentation

Business Ethics

Total amount of monetary losses as a result oflegal proceedings associated with fraud, insider
trading, antitrust, anti-competitive behavior,market manipulation, malpractice, or otherrelated financial industry laws or regulations

Quantitative

FN-IB-510a.1

See response to FN-CB-510a.1.

Description of whistleblower policies andprocedures

Discussion andAnalysis

FN-IB-510a.2

See response to FN-CB-510a.2.

(1) Number and (2) percentage of licensed
employees and identified decision-makers witha record of investment-related investigations,consumer-initiated complaints, private civil
litigations, or other regulatory proceedings

Quantitative

FN-IB-510b.1

Citi does not report this information.

Number of mediation and arbitration cases
associated with professional integrity, including
duty of care, by party

Quantitative

FN-IB-510b.2

Citi does not report this information.

Total amount of monetary losses as a result oflegal proceedings associated with professional
integrity, including duty of care

Quantitative

FN-IB-510b.3

Citi does not disclose total losses as a result of legal proceedings associated withprofessional integrity, including duty of care. However, Citi provides information regarding
material legal matters, in accordance with SEC requirements and US GAAP in its 10-K andother applicable SEC filings.

Professional Integrity• 2023 10-K pages 303-309
Description of approach to ensuring professional
integrity, including duty of care

Discussion andAnalysis

FN-IB-510b.4• Ethics at Citi
• Serving Our Customers and Clients Responsibly• Citi Code of Conduct

Systemic Risk
Management

Citi 2023 ESG Report

Global Systemically Important Bank (G-SIB)
score, by category

Quantitative

FN-IB-550a.1

See response to FN-CB-550a.1.

Description of approach to integrate results ofmandatory and voluntary stress tests into capital
adequacy planning, long-term corporate strategy,
and other business activities

Discussion andAnalysis

FN-IB-550a.2

See response to FN-CB-550a.2.

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Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Topic

Accounting Metric

Category

Code

Report Section or Other Documentation

Employee Incentives &Risk Taking

Percentage of total remuneration that is variablefor Material Risk Takers (MRTs)

Quantitative

FN-IB-550b.1

Citi discloses the breakdown of annual compensation for its executive officers in its Proxy
Statement. A multi-year variable remuneration program for certain executive officers,
called the Transformation Bonus Program, is also disclosed within the Proxy.
• 2024 Proxy Statement pages 90 and 94-95

Activity Metric

Citi discloses the applicable policies, triggers, and affected forms of remuneration under
its clawback provisions in its Proxy Statement

Percentage of variable remuneration of Material
Risk Takers (MRTs) to which malus or clawback
provisions were applied

Quantitative

Discussion of policies around supervision,
control, and validation of traders’ pricing of Level
3 assets and liabilities

Discussion andAnalysis

FN-IB-550b.3

Citi does not report this information.

(1) Number and (2) value of (a) underwriting, (b)advisory, and (c) securitization transactions

Quantitative

FN-IB-000.A

Per Dealogic, our transaction volumes for 2023 were:

FN-IB-550b.2• 2024 Proxy Statement pages 90 and 99

Transaction Type

Volume ($ M)

Deals (#)

Underwriting

567,7072,857

Completed M&A

534,966

196

Securitizations

60,803268• Dealogic press view standards were used to run the league tables.
• Values include Dealogic Rank Eligible transactions only.
• Citi volume for Mergers and Acquisitions is Equal Credit to Target and Acquirer
Advisors.
• Citi volume for underwriting is Full to Book Manager, Equal if Joint Books.
• Underwriting is inclusive of equity and equity-linked securities, debt capital markets
issuances including securitization of assets and mortgage-backed securities, andsyndicated loans.
• Securitizations consist of asset and mortgage-backed securities.
• Derivatives are not accounted for in the table above.
(1) Number and (2) value of proprietaryinvestments and loans by sector

Quantitative

FN-IB-000.B

Citi does not disclose all of its proprietary investments. Citi Ventures maintains an active
portfolio of over 100 companies across seven fintech and enterprise tech focus areas. The
Citi Impact Fund makes equity investments in companies that are addressing societal
challenges in the areas of Financial Resilience, Future of Work, Climate Resilience andSocial Infrastructure.
• Citi Ventures• Citi Impact Fund
(1) Number and (2) value of market making
transactions in (a) fixed income, (b) equity, (c)currency, (d) derivatives, and (e) commodity
products

Citi 2023 ESG Report

Quantitative

FN-IB-000.C

Citi does not report this information.

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Sustainable Operations

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Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

United Nations Guiding Principles Reporting Framework Index
We have included information and disclosures in this report aligned with the United Nations Guiding Principles reporting framework. This reflects our support of the U.N. Guiding Principles on Business andHuman Rights and our commitment to transparency and accountability regarding our human rights-related activities and policies. The following table indicates where readers can find information that
addresses the framework requirements, either in this report or other publicly available documents.

Section of the Framework

Report Section or Other Documentation

Part A: Governance of Respect for Human Rights
Policycommitment

A1

What does the company say publicly about its commitment to respect human rights?

A1.1

How has the public commitment been developed?

• Human Rights > Our Commitment to Respect Human Rights

A1.2

Whose human rights does the public commitment
address?

• Human Rights > Our Commitment to Respect Human Rights

A1.3

How is the public commitment disseminated?

• Ethics at Citi > Code of Conduct• Citi Statement on Human Rights

The following documents, which state our commitment to respect human rights and our expectations about the commitment of others, areposted publicly:• Citi Code of Conduct• Citi Requirements for Suppliers• Citi Statement of Supplier Principles• Citi Statement on Human Rights

Citi 2023 ESG Report

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Climate Risk & Net Zero

Sustainable Operations

United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Section of the Framework

Report Section or Other Documentation

Embeddingrespect forhuman rights• ESG Governance at Citi

A2

How does the company demonstrate the importance it attaches to the implementation of its human rights commitment?

A2.1

How is day-to-day responsibility for human rights
performance organized within the company, andwhy?

• Our Approach to Diversity, Equity & Inclusion and Talent Management• Risk Management > Safeguarding Data and Protecting Customer Information• Risk Management > Environmental and Social Risk Management• Human Rights• Responsible Sourcing

A2.2• Risk Management > Environmental and Social Risk Management
What kinds of human rights issues are discussed
by senior management and by the Board, and why? • Human Rights > Our Salient Human Rights Risks• Human Rights > Respecting Human Rights in Our Financing Decisions• Environmental and Social Policy Framework

A2.3

How are employees and contract workers madeaware of the ways in which respect for humanrights should inform their decisions and actions?

• Ethics at Citi > Code of Conduct• Risk Management > Environmental and Social Risk Management• Human Rights > Our Commitment to Respect Human Rights• Human Rights > Respecting the Human Rights of Our Employees• Citi Code of Conduct

A2.4

How does the company make clear in its business
relationships the importance it places on respectfor human rights?

• Risk Management > Environmental and Social Risk Management• Human Rights > Respecting Human Rights in Our Financing Decisions• Responsible Sourcing• Citi Requirements for Suppliers• Citi Statement of Supplier Principles• Citi Statement on Human Rights

A2.5

What lessons has the company learned during
the reporting period about achieving respect forhuman rights, and what has changed as a result?

• Addressing Financial Inclusion and the U.S. Racial Wealth Gap• Human Rights

Part B: Defining the Focus of Reporting
Statement ofsalient issues

Determination ofsalient issues

Citi 2023 ESG Report

B1

B2

State the salient human rights issues associatedwith the company’s activities and business
relationships during the reporting period.

• Human Rights > Our Salient Human Rights Risks

Describe how the salient human rights issues
were determined, including any input fromstakeholders.

• Human Rights > Our Commitment to Respect Human Rights• Human Rights > Salient Human Rights Risks: Stakeholder Impacts• Citi Statement on Human Rights• Human Rights > Respecting the Rights of Indigenous Peoples• Human Rights > Listening to Stakeholders and Addressing Grievances

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Climate Risk & Net Zero

Sustainable Operations

United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Section of the Framework

Report Section or Other Documentation

Choice of focal
geographies

Citi does not limit human rights considerations by geography – our approach is global, both for transactions screened under our ESRM Policy,
clients reviewed under know your customer (KYC) and anti-money laundering (AML) processes, and human rights respected in our own
operations globally.

B3

If reporting on the salient human rights issues
focuses on particular geographies, explain howthat choice was made.

• Risk Management > ESRM Consultation Data

• Risk Management > 2023 Projects Covered by the Equator Principles• Human Rights > Respecting Human Rights in Our Financing Decisions

Additional severe
impacts

B4

Identify any severe impacts on human rights that
occurred or were still being addressed during thereporting period, but which fall outside of thesalient human rights issues, and explain how they
have been addressed.

Part C: Management of Salient Human Rights Issues
Specific policies

C1

Does the company have any specific policies that address its salient human rights issues and, if so, what are they?

C1.1

How does the company make clear the relevanceand significance of such policies to those whoneed to implement them?

• Risk Management > Environmental and Social Risk Management• Human Rights > Our Commitment to Respect Human Rights• Human Rights > Respecting the Human Rights of Our Employees• Responsible Sourcing• Citi Code of Conduct• Citi Requirements for Suppliers• Citi Statement of Supplier Principles• Citi Statement on Human Rights

Stakeholder
engagement

C2

What is the company’s approach to engagement with stakeholders in relation to each salient human rights issue?

C2.1

How does the company identify whichstakeholders to engage with in relation to eachsalient issue, and when and how to do so?

• Stakeholder Engagement at Citi

• Risk Management > Policy Implementation• Risk Management > Client Engagement• Human Rights > Respecting the Rights of Indigenous Peoples• Human Rights > Listening to Stakeholders and Addressing Grievances

C2.2

C2.3

Citi 2023 ESG Report

During the reporting period, which stakeholders
has the company engaged with regarding eachsalient issue, and why?

• Stakeholder Engagement at Citi

During the reporting period, how have the viewsof stakeholders influenced the company’s
understanding of each salient issue and/or its
approach to addressing it?

• Stakeholder Engagement at Citi

• Human Rights > Respecting the Rights of Indigenous Peoples• Human Rights > Listening to Stakeholders and Addressing Grievances• Human Rights > Respecting the Rights of Indigenous Peoples• Human Rights > Listening to Stakeholders and Addressing Grievances

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Climate Risk & Net Zero

United Nations Guiding Principles Reporting Framework Index

Section of the Framework
Assessing
impacts

Integrating
findings andtaking action

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Report Section or Other Documentation

C3

How does the company identify any changes in the nature of each salient human rights issue over time?

C3.1

During the reporting period, were there any
notable trends or patterns in impacts related to asalient issue and, if so, what were they?

C3.2

During the reporting period, did any severe
impacts occur that were related to a salient issue
and, if so, what were they?

C4

How does the company integrate its findings about each salient human rights issue into its decision-making processes and actions?

C4.1

How are those parts of the company whose
decisions and actions can affect the managementof salient issues, involved in finding andimplementing solutions?

• ESG Governance at Citi

C4.2

When tensions arise between the prevention or
mitigation of impacts related to a salient issue andother business objectives, how are these tensions
addressed?

• Risk Management > Environmental and Social Risk Management

C4.3

During the reporting period, what action has thecompany taken to prevent or mitigate potential
impacts related to each salient issue?

• Social Finance in Emerging Markets• Human Rights > Respecting the Rights of Indigenous Peoples• Human Rights > Respecting Human Rights in Our Financing Decisions• Risk Management > Environmental and Social Risk Management• Human Rights• Human Rights > Respecting Human Rights in Our Financing Decisions• Addressing Financial Inclusion and the U.S. Racial Wealth Gap• Our Approach to Diversity, Equity & Inclusion and Talent Management• Risk Management > Safeguarding Data and Protecting Customer Information• Human Rights > Respecting Human Rights in Our Financing Decisions

Tracking
performance

Citi 2023 ESG Report

C5

How does the company know if its efforts to address each salient human rights issue are effective in practice?

C5.1

What specific examples from the reporting period
illustrate whether each salient issue is being
managed effectively?

Please refer to examples in the sections below.
• Addressing Financial Inclusion and the U.S. Racial Wealth Gap• Human Rights > Respecting Human Rights in Our Financing Decisions

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United Nations Guiding Principles Reporting Framework Index

Section of the Framework
Remediation

Sustainable Operations

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Report Section or Other Documentation

C6

How does the company enable effective remedy if people are harmed by its actions or decisions in relation to a salient human rights issue?

C6.1

Through what means can the company receive
complaints or concerns related to each salientissue?

• Ethics at Citi > Escalating Concerns

C6.2

How does the company know if people feel able
and empowered to raise complaints or concerns?

• Ethics at Citi > Assessing Our Culture of Ethics

C6.3

How does the company process complaints andassess the effectiveness of outcomes?

• Ethics at Citi > Acting with Integrity• Human Rights > Listening to Stakeholders and Addressing Grievances• Citi Code of Conduct• Human Rights > Respecting Human Rights in Our Financing Decisions• Human Rights > Listening to Stakeholders and Addressing Grievances• Citi Code of Conduct

C6.4

During the reporting period, what were the trends
and patterns in complaints or concerns and theiroutcomes regarding each salient issue, and what
lessons has the company learned?

We continue to engage with stakeholders on their concerns relating to the Oil & Gas, Manufacturing, Technology and Palm Oil sectors. We
engage with these industries directly through client relationships, stakeholder meetings and active participation in relevant initiatives. For
instance, our membership in the Roundtable on Sustainable Palm Oil guides our risk management approach to clients in the Palm Oil value
chain, and supports the organization's work to improve the collective effort to reduce human rights risks associated with this commodity. In
addition, our touch points during annual reviews allow us to evaluate human rights risks and management through client engagement.
• Ethics at Citi > Acting with Integrity• Risk Management > Policy Implementation• Human Rights > Respecting Human Rights in Our Financing Decisions• Human Rights > Listening to Stakeholders and Addressing Grievances• Citi Code of Conduct

C6.5

Citi 2023 ESG Report• Stakeholder Engagement at Citi
During the reporting period, did the company• Human Rights > Respecting Human Rights in Our Financing Decisions
provide or enable remedy for any actual impacts
related to a salient issue and, if so, what are typicalor significant examples?

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Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Assurance

ASSURANCE STATEMENTSGS REPORT ON CITIGROUP INC.’s “CITI’S 2023 ESG REPORT”, SECTION“2023 PROJECTS COVERED BY THE EQUATOR PRINCIPLES”
NATURE AND SCOPE OF THE ASSURANCE/VERIFICATIONSGS was commissioned by Citigroup Inc. to conduct an independent assurance of the “Citi’s 2023 ESG
Report”, section “2023 Projects Covered by the Equator Principles”. The scope of the assurance, based on the
SGS Sustainability Report Assurance methodology, included the data in accompanying tables, contained in thisreport.
The information in the “Citi’s 2023 ESG Report” of Citigroup Inc. and its presentation are the responsibility of thedirectors and the management of Citigroup Inc. SGS has not been involved in the preparation of any of thematerial included in the “Citi’s 2023 ESG Report”. Our responsibility is to express an opinion on the text, data,graphs and statements within the scope of verification with the intention to inform all Citigroup Inc.’
stakeholders.
The SGS protocols are based upon the internationally recognized Assurance Standard ISAE 3000. This
standard follows differing options for Assurance depending on the context and capabilities of the Reporting
Organization. This report has been assured at a limited level of scrutiny using our protocols for evaluation ofcontent veracity and the alignment to the Equator Principles and the internal policies and procedures of
Citigroup Inc.
The assurance comprised a combination of pre-assurance research, interviews with relevant employees;
documentation and record review and the evaluation of the report for the alignment to the Equator Principles.
STATEMENT OF INDEPENDENCE AND COMPETENCEThe SGS Group of companies is the world leader in inspection, testing and verification, operating in more than
140 countries and providing services including management systems and service certification; quality,
environmental, social and ethical auditing; sustainability report assurance and greenhouse gases verification.
SGS affirms our independence from Citigroup Inc., being free from bias and conflicts of interest with theorganization, its subsidiaries and stakeholders.
The assurance team was assembled based on their knowledge, experience and qualifications for thisassignment, and comprised a Lead Assuror for Sustainability Reporting and Equator Principles, Lead Verifier inGreenhouse Gases, and Principal Auditor registered with IRCA (International Register of Certificated Auditors)
in Environmental, Quality, Occupational Health & Safety, and Social Systems.
ASSURANCE OPINION
Based on the methodology described and the verification work performed on the “Citi’s 2023 ESG Report”,
section “2023 Projects Covered by the Equator Principles” , we did not observe any circumstance that made us
believe that the information and data contained within is inaccurate, unreliable, or does not provide a fair andbalanced representation of Citigroup Inc.’ activities in 2023. The assurance team is of the opinion that theReport can be used by the Citigroup Inc.’ Stakeholders. We believe that Citigroup Inc. has chosen an
appropriate level of assurance.

GP5024 Issue 4

Citi 2023 ESG Report

CONCLUSIONS WITH REGARDS TO EQUATOR PRINCIPLES REPORTING DATA FOR 2023
In our opinion the “Citi’s 2023 ESG Report” reported information of the Equator Principles, as detailed at thesection “2023 Projects Covered by Equator Principles” and is presented in accordance with the Equator
Principles IV (EP4), Annex B “Minimum Reporting Requirements”.
SGS based this opinion in the review of Citi’s internal documents and a sample of EP-covered financial
products and their respective EP checklists and Independent Reviews.
Citigroup Inc. reported information is aligned to the EP Reporting Criteria requirements as follows:•

Public Reporting of the EP-covered financial products separately: Project Finance Advisory Services,
Project Finance Loans, Project-Related Corporate Loans, Bridge Loans and Project-Related Refinanceand Project-Related Acquisition Finance. There were only Project Finance Loans and PRCL in 2023.

•

The loans were categorized as A, B or C, dependent on the environmental and social risks posed.

•

Total number of Project Finance Loans and Project-Related Corporate Loans that reached Financial
Close during the reporting period (2023)•

The Project Finance Loans and Project-Related Corporate Loans were broken down by: Sector,
Region, Country Designation, and whether an whether an Independent Review has been carried out.

•

Independent review is required for A projects and, for B projects when needed. All projects reviewed
had an Independent Review.

•

The EP transactions were over the threshold of:o

10 million USD for Project Capital Cost required in the Equator Principles IV for projectoOver 50 million USD for Project-Related Corporate Loans (total aggregate loan amount andthe EPFI’s individual commitment) in the Equator Principles IV

finance loans, and•It was identified the transactions which their combined Scope 1 and Scope 2 Emissions are expected
to be more than 100,000 tonnes of CO 2 equivalent annually. In these cases, an annual GHG
emissions report and a climate change risk assessment was provided for the transaction.

Lead Sustainability Report Assuror: Ursula Antunez de Mayolo Corzo
Date: 27th March of 2024

Pamela Chadwick
Business Manager
SGS United Kingdom Ltd
Date 28th March 2024
www.sgs.com

GP5024 Issue 2

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Sustainable Operations

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Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Assurance

Greenhouse Gas Verification Opinion Number
UK.PRS.VOL.INV.2023 270324
The inventory of Greenhouse Gas emissions and environmental data in the period
1st January 2023 – 31st December 2023 for

Citigroup, Inc.

388 Greenwich Street
New York, NY, 10013
has been verified in accordance with ISO 14064-3:2019 and the principles ofcompleteness, transparency, accuracy, consistency and relevance

Lead Assessor: Clare Robertson
Technical Reviewer: Abdullah Buhidma
Authorised by:Pamela Chadwick
SGS United Kingdom Ltd
Verification Opinion Date: 27th March 2024

To represent a total amount of:
46,582 tCO2e of GHG emissions Scope 1
450,771 tCO2e of GHG emissions Scope 2 (location based)
28,927 tCO2e of GHG emissions Scope 2 (market based)
497,353 tCO2e of total GHG emissions Scopes 1 and 2, based on Scope 2
location-based emissions
77,004 tCO2e of GHG emissions Scope 3
179 tCO2e of GHG emissions Outside of Scopes

This Opinion is not valid without the full verification scope, objectives, criteria and conclusion available on
pages 2 to 6 of this Opinion.

1,096.54 GWh of electricity consumption
27.95 GWh of district heating and cooling
205.92 GWh of natural gas
1.97 GWh of LPG
0.02 GWh of fuel oil
20.06 GWh of diesel
0.70 GWh of HVO
7,385 metric tonnes of waste diverted from landfill
17,528 metric tonnes of total waste
3,386,983 cubic meters of potable water consumed
340,789 cubic meters of non-potable water consumed
76,887 tCO2e from business travel by air
117 tCO2e from business travel by rail
The inventory of Greenhouse Gas emissions has been verified as meeting therequirements of the WRI/WBCSD GHG Protocol – A Corporate Accounting andReporting Standard, the GHG Protocol – Scope 2 Guidance – Amendment to
the GHG Protocol Corporate Standard and the GHG Protocol – Corporate
Value Chain (Scope 3) Accounting and Reporting Standard.
For the following activities

Banking and Finance

Citigroup, Inc. has purchased 38,000 tCO2e carbon offset credits, these are nottaken into consideration in the emissions declared above. Combined with a balanceof 12,689 tCO2e, 46,582 tCO2e will apply to 2023. The remaining 4,107 tCO2e will
be carried over into 2024.

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Sustainable Finance

Sustainability Accounting Standards Board Index

Climate Risk & Net Zero

Sustainable Operations

United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Assurance

Schedule Accompanying Greenhouse Gas Verification Opinion
Number UK.PRS.VOL.INV.2023 270324
Brief Description of Verification Process

SGS has been contracted by Citigroup, Inc. for the verification of direct and indirect
carbon dioxide (CO2) equivalent emissions and environmental data as provided by
Citigroup, Inc., 388 Greenwich Street, New York, NY, 10013 in their GHG
Statement in the form of a Management Assertion covering CO2 equivalentemissions and environmental data.
Statement of Independence and Competence

The SGS Group of companies is the world leader in inspection, testing andverification, operating in more than 140 countries and providing services including
management systems and service certification; quality, environmental, social andethical auditing; sustainability report assurance and greenhouse gases verification.
SGS affirms our independence from Citigroup, Inc. being free from bias andconflicts of interest with the organization, its subsidiaries and stakeholders.
The assurance team was assembled based on their knowledge, experience andqualifications for this assignment, and comprised Lead Verifiers in Greenhouse
Gases and Environmental Data Reporting

nature and proven by evidence.
This engagement covers verification of emissions from anthropogenic sources ofgreenhouse gases and other environmental data included within the organisation’sboundary and meets the requirements of WRI/WBCSD GHG Protocol and its
amendments.
• The organizational boundary was established following the operational
control approach• Title or description of activities: Banking and Finance• Location/boundary of the activities: Global• Physical infrastructure, activities, technologies and processes of theorganization: Data Centres, Offices, Operation Centres, Retail Serviced,
and Retail Non-Serviced facilities.
• GHG sources, sinks and/or reservoirs included:
Scope 1: Direct GHG emissions and removals – stationary combustion in
owned, leased and sub-leased locations. Transportation fleet, fugitive andrefrigerant emissions are excluded from the inventory;
Scope 2: Indirect GHG emissions from imported energy – purchased
electricity and district heating and cooling;
Scope 3: Other indirect GHG emissions – Business Travel (air and rail (railtravel is for trips which are booked through Citi’s primary Travel
Management Company only)).

Roles and responsibilities

The management of Citigroup, Inc. is responsible for the organization’s GHG andenvironmental data information system, the development and maintenance ofrecords and reporting procedures in accordance with that system, including the
calculation and determination and reporting of GHG emissions and environmental
data.
It is SGS’ responsibility to express an independent GHG verification opinion on the
GHG emissions and environmental data as provided in the Citigroup, Inc. GHG
Statement for the period 1st January 2023 – 31st December 2023. As independent
auditors to Citigroup Inc. our work was conducted based on current best practice inindependent verification and in accordance with SGS policies regarding impartiality
and independence. SGS has no conflict of interest in relation to providing these
services to Citigroup Inc.
SGS conducted a third-party verification following the requirements of ISO 14064-3:
2019 of the provided CO2 equivalent and environmental data Statement in the
period November 2023 to March 2024.

• Types of GHGs included: CO2, N2O, CH4• GHG Reduction Initiatives: None
• GHG information for the following period was verified: 1st January 2023 to
31st December 2023
• Types of environmental data included: electricity consumption, district
heating (steam & chilled water), natural gas consumption, diesel
consumption, LPG consumption, fuel oil consumption, HVO consumption,
waste diverted from landfill, total waste and water (potable and non-potable)
consumed• Intended user of the verification opinion: Internal and external stakeholders.
Objective

The level of assurance agreed is limited.

The purpose of this verification exercise was, by review of objective evidence, toindependently review:• Whether the CO2 equivalent emissions and environmental data are as
declared by the organization’s statement• That the data reported are accurate, complete, consistent, transparent andfree of material error or omission• The implementation of Citigroup, Inc systems & procedures for the
management and reporting of environmental data and the calculation ofgreenhouse gas emissions

Scope

Criteria

The assessment included a desk review with remote verification. The verification
was based on the verification scope, objectives and criteria as agreed between
Citigroup, Inc. and SGS on 01/12/2021
Level of Assurance

Citigroup, Inc. has commissioned an independent verification by SGS of reported
CO2 equivalent emissions and environmental data arising from their activities, toestablish conformance with the requirements of WRI/WBCSD GHG Protocol and its
amendments for CO2 equivalent emissions and the principles of completeness,transparency, accuracy, consistency and relevance for environmental data, within
the scope of the verification as outlined below. Data and information supporting theCO2 equivalent and environmental data statement were historical and estimated inCiti 2023 ESG Report

Criteria against which the verification assessment is undertaken are therequirements of the WRI/WBCSD GHG Protocol (for CO2 equivalent emissions
only) and its amendments, the GHG Inventory and environmental data methodology
as defined by Citigroup, Inc., and the principles of completeness, transparency,
accuracy, consistency and relevance.
Materiality

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Sustainability Accounting Standards Board Index

Climate Risk & Net Zero

Sustainable Operations

United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Assurance

The materiality required of the verification was considered by SGS to be below
10%, based on the needs of the intended user of the GHG and environmental data
Statement
Conclusion

Citigroup, Inc. provided the GHG and environmental Statement based on therequirements of the WRI/WBCSD GHG Protocol and its amendments, the Citigroup,
Inc. methodology and the principles of completeness, transparency, accuracy,
consistency and relevance. The following GHG emissions and environmental data
for the period 1st January 2023 – 31st December 2023 are verified by SGS to alimited level of assurance, consistent with the agreed verification scope, objectives
and criteria.
46,582 tCO2e of GHG emissions Scope 1
450,771 tCO2e of GHG emissions Scope 2 (location based)
28,927 tCO2e of GHG emissions Scope 2 (market based)
497,353 tCO2e of total GHG emissions Scopes 1 and 2, based on Scope 2 locationbased emissions
77,004 tCO2e of GHG emissions Scope 3

We planned and performed our work to obtain the information, explanations andevidence that we considered necessary to provide a limited level of assurance that
the CO2 equivalent emissions and environmental data for the period 1st January2023 – 31st December 2023 are fairly stated.
This Opinion shall be interpreted with the CO2 equivalent and environmental datastatement of Citigroup, Inc. as a whole.
Note: This Opinion is issued, on behalf of Client, by SGS United Kingdom Ltd, Rossmore Business Park,
Inward Way, Ellesmere Port, Cheshire, CH65 3EN (“SGS”) under its General Conditions for GHG
Validation and Verification Services.The findings recorded hereon are based upon an audit performed by
SGS. A full copy of this Opinion and the supporting GHG Statement may be consulted at Citigroup,
Inc., 388 Greenwich Street, New York, NY 10013. This Opinion does not relieve Client fromcompliance with any bylaws, federal, national, or regional acts and regulations or with any guidelines
issued pursuant to such regulations. Stipulations to the contrary are not binding on SGS and SGS shallhave no responsibility vis-à-vis parties other than its Client.

1,096.54 GWh of electricity consumption
27.95 GWh of district heating and cooling
205.92 GWh of natural gas
1.97 GWh of LPG
0.02 GWh of fuel oil
20.06 GWh of diesel
0.70 GWh of HVO
7,385 metric tonnes of waste diverted from landfill
17,528 metric tonnes of total waste
3,386,983 cubic meters of potable water consumed
340,789 cubic meters of non-potable water consumed
76,887 tCO2e from business travel by air
117 tCO2e from business travel by rail
SGS’ approach is risk-based, drawing on an understanding of the risks associatedwith modeling GHG emission information and the controls in place to mitigate theserisks. Our examination included assessment, on a sample basis, of evidence
relevant to the voluntary reporting of emission and environmental data.
SGS concludes with limited assurance that there is no evidence to suggest that thereported CO2 equivalent and environmental data assertion is not materially correctand is not a fair representation of GHG and environmental data and information
based on the calculation methodologies utilised.

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Sustainable Finance

Sustainability Accounting Standards Board Index

Climate Risk & Net Zero

Sustainable Operations

United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Assurance

Greenhouse Gas Verification Opinion Number
UK.PRS.VOL.INV.100. 2024/03/27ADD
The inventory of selected Greenhouse Gas emissions sources in the period
1st January 2023 – 31st December 2023 for

Citigroup, Inc.

388 Greenwich Street
New York, NY, 10013
has been verified in accordance with ISO 14064-3:2019 and the principles ofcompleteness, transparency, accuracy, consistency and relevance

To represent a total amount of:
2,739 tCO2e of GHG emissions Scope 1 corporate fleet (ground vehicles)
The inventory of selected Greenhouse Gas emissions has been verified as meeting
the requirements of the WRI/WBCSD GHG Protocol – A Corporate Accounting
and Reporting Standard and the GHG Protocol –Corporate Value Chain(Scope 3) Accounting and Reporting Standard.
For the following activities

Banking and Finance

The full inventory for Citigroup, Inc. has been verified and stated in a separate
verification statement.
Lead Assessor: Clare Robertson
Technical Reviewer: Abdullah Buhidma
Authorised by:Pamela Chadwick
SGS United Kingdom Ltd
Verification Opinion Date: 27th March 2024
This Opinion is not valid without the full verification scope, objectives, criteria and conclusion available on
pages 2 to 4 of this Opinion.

Schedule Accompanying Greenhouse Gas Verification Opinion
Number UK.PRS.VOL.INV.100. 2024/03/27ADD
Brief Description of Verification Process

SGS has been contracted by Citigroup, Inc. for the verification of selected direct
and indirect carbon dioxide (CO2) equivalent emissions as provided by Citigroup,
Inc., 388 Greenwich Street, New York, NY, 10013 in their GHG Statement in theform of a Management Assertion covering CO2 equivalent emissions.
Statement of Independence and Competence

The SGS Group of companies is the world leader in inspection, testing andverification, operating in more than 140 countries and providing services including
management systems and service certification; quality, environmental, social andethical auditing; sustainability report assurance and greenhouse gases verification.
SGS affirms our independence from Citigroup, Inc. being free from bias andconflicts of interest with the organization, its subsidiaries and stakeholders.
The assurance team was assembled based on their knowledge, experience andqualifications for this assignment, and comprised Lead Verifiers in Greenhouse
Gases and Environmental Data Reporting
Roles and responsibilities

The management of Citigroup, Inc. is responsible for the organization’s GHG
information system, the development and maintenance of records and reporting
procedures in accordance with that system, including the calculation anddetermination and reporting of GHG emissions.
It is SGS’ responsibility to express an independent GHG verification opinion on theselected GHG emissions as provided in the Citigroup, Inc. GHG Statement for theperiod 1st January 2023 – 31st December 2023. As independent auditors to Citigroup
Inc. our work was conducted based on current best practice in independent
verification and in accordance with SGS policies regarding impartiality andindependence. SGS has no conflict of interest in relation to providing these services
to Citigroup Inc.
SGS conducted a third-party verification following the requirements of ISO 14064-3:
2019 of the provided CO2 equivalent Statement in the period November 2023 toMarch 2024.
The assessment included a desk review with remote verification. The verification
was based on the verification scope, objectives and criteria as agreed between
Citigroup, Inc. and SGS on 01/12/2021
Level of Assurance

The level of assurance agreed is limited.
Scope

Citigroup, Inc. has commissioned an independent verification by SGS of reported
CO2 equivalent emissions arising from their activities, to establish conformance withthe requirements of WRI/WBCSD GHG Protocol and its amendments for CO2
equivalent emissions and the principles of completeness, transparency, accuracy,
consistency and relevance, within the scope of the verification as outlined below.
Data and information supporting the CO 2 equivalent statement were historical andestimated in nature and proven by evidence.

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Sustainable Finance

Sustainability Accounting Standards Board Index

Climate Risk & Net Zero

Sustainable Operations

United Nations Guiding Principles Reporting Framework Index

Building Equitable & Resilient Communities

Diversity & Talent

Responsible Business

Appendices

Assurance

Assurance

This engagement covers verification of emissions from anthropogenic sources ofgreenhouse gases included within the organisation’s boundary and meets therequirements of WRI/WBCSD GHG Protocol and its amendments.
• The organizational boundary was established following the operational
control approach• Title or description of activities: Banking and Finance• Location/boundary of the activities: Global• Physical infrastructure, activities, technologies and processes of theorganization: corporate fleet (ground vehicles).
• GHG sources, sinks and/or reservoirs included:
Scope 1: Direct GHG emissions and removals – transportation from owned& leased ground vehicles (Business and Pool vehicles only) which are
Active (with Vehicle Status Pending Disposal or Received).
• Types of GHGs included: CO2, N2O, CH4• GHG Reduction Initiatives: None
• GHG information for the following period was verified: 1st January 2023 to
31st December 2023
• Intended user of the verification opinion: Internal and external stakeholders.

SGS concludes with limited assurance that there is no evidence to suggest that thereported CO2 equivalent assertion is not materially correct and is not a fair
representation of GHG information based on the calculation methodologies utilised.
We planned and performed our work to obtain the information, explanations andevidence that we considered necessary to provide a limited level of assurance that
the CO2 equivalent emissions for the period 1st January 2023 – 31st December 2023
are fairly stated.
This Opinion shall be interpreted with the CO2 equivalent statement of Citigroup,
Inc. as a whole.
Note: This Opinion is issued, on behalf of Client, by SGS United Kingdom Ltd, Rossmore Business Park,
Inward Way, Ellesmere Port, Cheshire, CH65 3EN (“SGS”) under its General Conditions for GHG
Validation and Verification Services.The findings recorded hereon are based upon an audit performed by
SGS. A full copy of this Opinion and the supporting GHG Statement may be consulted at Citigroup,
Inc., 388 Greenwich Street, New York, NY 10013. This Opinion does not relieve Client fromcompliance with any bylaws, federal, national or regional acts and regulations or with any guidelines
issued pursuant to such regulations. Stipulations to the contrary are not binding on SGS and SGS shallhave no responsibility vis-à-vis parties other than its Client.

Objective

The purpose of this verification exercise were, by review of objective evidence, toindependently review:• Whether the CO2 equivalent emissions are as declared by theorganization’s statement• That the data reported are accurate, complete, consistent, transparent andfree of material error or omission• The implementation of Citigroup, Inc systems & procedures for the
management and reporting of environmental data and the calculation ofgreenhouse gas emissions
Criteria

Criteria against which the verification assessment is undertaken are therequirements of the WRI/WBCSD GHG Protocol (for CO2 equivalent emissions
only) and its amendments, the GHG Inventory methodology as defined by
Citigroup, Inc., and the principles of completeness, transparency, accuracy,
consistency and relevance.
Materiality

The materiality required of the verification was considered by SGS to be below
10%, based on the needs of the intended user of the GHG Statement
Conclusion

Citigroup, Inc. provided the GHG and environmental Statement based on therequirements of the WRI/WBCSD GHG Protocol and its amendments, the Citigroup,
Inc. methodology and the principles of completeness, transparency, accuracy,
consistency and relevance. The following GHG emissions for the period 1st January2023 – 31st December 2023 are verified by SGS to a limited level of assurance,
consistent with the agreed verification scope, objectives and criteria.
2,739 tCO2e of GHG emissions Scope 1 corporate fleet (ground vehicles)
SGS’ approach is risk-based, drawing on an understanding of the risks associatedwith modeling GHG emission information and the controls in place to mitigate theserisks. Our examination included assessment, on a sample basis, of evidence
relevant to the voluntary reporting of emission data.

Citi 2023 ESG Report

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