What’s Inside

2022
Environmental, Socialand Governance Report2

About This Report

Building Equitable andResilient Communities

3

Letter from Our CEO

43 Action for Racial Equity

42022 Highlights

45 Citi Impact Fund
46 Strategic Philanthropy:
The Citi Foundation

ESG at Citi
5

ESG Across Citi

6

ESG Governance at Citi

8

Our Material ESG Issues

10 Stakeholder Engagement at Citi

48 Global Community Day

Talent and Diversity,
Equity & Inclusion
49 Our People Strategy
49 How We Work

Sustainable Finance
12

Our $1 Trillion Goal

22 Financing the Low-Carbon Transition
23 Financing Social Impact

Climate Risk
and Net Zero
25 Our Net Zero Commitment
30 Our Approach to Managing
Climate Risk
32 Reducing Climate Risk in
Our Financing.

Sustainable Operations
34 Operational Footprint Goals
36 Sustainable and Healthy Buildings
37 Efficient Travel
37 Managing Climate Risk in
Our Operations
38 Environmental Performancefor Operations

52 Our Talent and DEI Strategy

Responsible Business
65 Transforming Our Risk and Controls
Environment
66 Ethics and Culture at Citi
67 Risk Management
77 Human Rights
82 Serving Our Customers andClients Responsibly
84 Responsible Sourcing

Appendices
87 GRI Content Index
94 Sustainability Accounting Standards
Board Index
100 United Nations Global Compact Index
102 United Nations Guiding Principles
Reporting Framework Index
107 The Principles for Responsible
Banking Index
125 AssuranceESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

Appendices

About This Report
This report illustrates how we bring our
mission of enabling growth and economic
progress to life through our business. We
focus on issues that we have determined
to be of material1 importance from anenvironmental, social and governance(ESG) perspective, which is a broader
standard than that used in our financial
disclosures. For more information, see
A Note on Materiality and ForwardLooking Statements.
When preparing this report, we referenced
the Global Reporting Initiative Universal
Standards, the Task Force on Climaterelated Financial Disclosures framework,
relevant sector standards from theSustainability Accounting Standards Board,
the Principles for Responsible Banking
and the UN Guiding Principles on Businessand Human Rights framework (see related
indexes). This report complements
information published in our 2022 Annual
Report, our 2022 Task Force on Climaterelated Financial Disclosures Report:
Citi’s Approach to Climate Change and
Net Zero and our Environmental andSocial Policy Framework.

1

Citi 2022 ESG Report

We are committed to transparency in ESG
reporting, and we are working to continually
improve our reporting as industry bestpractices evolve. We have redesigned andstreamlined our ESG report this year to help
stakeholders identify the most decisionuseful information, while maintaining
consistency and transparency in our
year-over-year data.
All reporting and performance data arelimited to information for the owned andoperated facilities of Citigroup Inc. andits subsidiaries, unless stated otherwise.
Additional information about Citi can befound on our website. For more information
on ESG at Citi, please visit citigroup.com/
citi/about/esg/ or contact:
Enterprise Services and Public Affairs
Citigroup Inc.
388 Greenwich St.
New York, NY 10013
sustainability@citi.com
Citi 2022 Environmental, Social andGovernance Report v1.4, February 2024

Refer to Our Material ESG Issues for our definition of material issues in the context of this report.

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Letter from Our CEO
We are living through a period defined byunprecedented change. Every company I know
is continually assessing its strategies, because
it is abundantly clear that the geopolitical,
social, environmental and technological developments of the next decade will have impacts
for generations to come.
At Citi, helping our clients navigate thechallenges and embrace the opportunities ofour rapidly changing world is fundamental to
our mission of enabling growth and economic
progress. Importantly, it’s also vital to our own
business and central to how we deliver for ourclients and help them sustain their businesses
for the future.
None of this work is straightforward. Partnership
between the public and private sectors isessential, and addressing the thorniest
economic challenges requires a balancing
act between competing needs and economic
realities. We often find that the path of progressruns through the middle.
Nowhere is that more true than for the energy
transition. On the one hand, we must continue
to support our clients who make sure there isan ample and affordable energy supply to meet
the world’s needs. On the other hand, we arealso enabling the investment that’s critical to
the transition to a low-carbon economy. That
includes advising and financing our clients intheir decarbonization journeys, investing innecessary climate technologies and ameliorating
the workforce impact by catalyzing the creation

Citi 2022 ESG Reportof “green-collar” jobs. Simply put, the energy
transition, energy security and economic
growth are not mutually exclusive and must be
tackled simultaneously.
Sustainable finance goes to the heart of our
firm’s long-term interests. By investing in
the health of the communities where we dobusiness, we can ensure that these communities
will allow us to continue operating there in the
future. Since 2020, we have now financed andfacilitated $348.5 billion in environmental andsocial finance activity, putting us well down
the path to meeting our $1 trillion sustainablefinance goal by 2030. This financing has been
directed toward myriad opportunities in communities across the world, including supporting
microfinance in Peru, financing community solar
projects in the United States, financing accessto clean water and sanitation in Brazil, andhelping expand access to healthcare in Indiaand increase food security in Nigeria.
Here in the U.S., we are putting our balance sheet
to work to lift up local communities. For the
13th year running, we’ve been the number one
affordable housing lender in the U.S., financing
approximately $6 billion in projects in 2022 alone.
We also more than tripled our initial commitment
to the Citi Impact Fund to $500 million so we
can provide capital to startups, many of them
led by diverse founders, that are focused on the“double bottom line” by driving positive social andfinancial impact.

Building Equitable & Resilient Communities

Talent & DEI

Expanding access to banking is also important
to Citi’s continued success. Last year, we
became the first of the largest U.S. banks toeliminate overdraft fees and returned-item
fees for our customers. Through our Action
for Racial Equity initiative in the U.S., we’ve
stepped up our partnerships with minorityowned depository institutions (MDIs) that
can help increase economic mobility in themost underserved communities. We recently
created a first-of-its-kind Diverse Financial
Institutions Group to lead our engagementwith MDIs, diverse broker-dealers and asset
managers. These initiatives are not separate
from what we do day to day; they are enduringcommitments embedded in our business.
Within our own walls, we are committed tocreating a company that reflects the diverse
communities we serve. This ensures that we havea multitude of perspectives to truly understandour clients’ challenges and opportunities andhelp them prosper. It also gives us a competitiveedge in the talent market and helps us attract
and retain the best talent from all backgrounds.

Responsible Business

Appendices

Because of our global network, Citi is in aunique position to lead on critical business andeconomic issues and help our clients tackle thechallenges before them. In every aspect of thiswork, we are acting with urgency and holding
ourselves accountable for getting it done. I invite
you to read the following report and learn more
about how we’re fortifying our business andhelping our clients and communities do the same.
Whether it’s the drive to net zero, expanding
financial inclusion, or investments in local
infrastructure, we are backing up our commitments with action and measurable results andpositioning Citi for a new era of success.

Jane Fraser
Chief Executive Officer

To that end, we have set new and more inclusive
aspirational goals to increase underrepresented
groups in the more senior levels of the firm,
as well as establishing the first aspirational
recruiting goal by a major U.S. bank for LGBTQ+
early-career hires globally. We have exceeded thethree-year representation goals we set in 2018
to increase the percentages of women in thefirm globally and Black talent in the U.S. We also
continue to champion pay equity in our industry
by annually publishing the pay gap between
men and women globally and U.S. minorities andU.S. non-minorities.

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Provided more than

Reached$348.5B

2.5M
HOUSEHOLDS,INCLUDING NEARLY

toward our$1 TRILLION SUSTAINABLE
FINANCE GOAL

Became the firstmajor U.S. bankto eliminate overdraft fees

Appendicesfocused on addressing economic disparities
in underserved communities

with access to essential
goods and services inemerging markets$3B

including access to finance,
healthcare, digital connectivity,
smallholder agriculture, reliableenergy, water and sanitation

Economic Opportunity Coalition

WOMEN,MOBILIZED OVER

IN EMERGING MARKET SOCIALFINANCE ACTIVITY,

Became a founding member of the
Biden-Harris administration’s

1M

since 2020

while supporting clientsand relief organizations
on the groundResponsible Business

2022 Highlights

2022 Highlights

Prioritized the safetyof Citi colleagues in
UkraineTalent & DEI

Became the first major U.S.
bank to set an aspirational
recruiting goal for

LGBTQ+
early-careerhires globally

Created a first-of-its-kindDiverse Financial
Institutions Groupto deepen our work withminority-owned firms

Set 2030 emissions
reduction targets
for energy, power, automotive manufacturing,steel, commercial real estate and thermal coalmining lending portfolios as part of our net
zero commitment1

Committed

EXPANDED THE CITI
IMPACT FUND TO$500M
which tripled our initialcommitment to investing indouble-bottom line companies
helping to address societal
challenges
1$50M

Financed
approximately$6B

Volunteered over

IN AFFORDABLE
HOUSINGPROJECTS

HOURS

in the U.S.

115,000
across 84 countries andterritories as part of Global
Community Day at Citi

through the Citi Foundation to nonprofits
supporting community finance initiatives
throughout the U.S.

Signed onto the

Sustainable STEEL Principles,the first framework for lenders tomeasure steel industry emissions

Emissions reduction targets for Auto Manufacturing, Commercial Real Estate, Steel and Thermal Coal Mining were released in early 2023.

Citi 2022 ESG Report

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ESG at Citi

Sustainable Finance

ESG Across Citi

ESG Governance at Citi

Climate Risk & Net Zero
Our Material ESG Issues

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

Appendices

Stakeholder Engagement at Citi

ESG at Citi

QUICK LINKS
ESG Across Citi
ESG Governance at Citi
Our Material ESG Issues

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 thecapital markets on behalf of our clients.
As a global financial institution, Citi connects
millions of people across countries and cities
worldwide. For over 200 years, we have been
helping our clients to meet some of the world’s
toughest challenges and embrace its greatest
opportunities.
Our commitments, considerations and priorities
around environmental, social and governance(ESG) issues are part of our business model andcentral to our mission. While initially developedby the investment community, the term ESG
has a variety of meanings today, reflecting ourrapidly changing global society.
At Citi, we have identified our ESG priorities
in line with our business priorities. We engage
on environmental and social issues from abusiness risk and opportunity perspective. Our
governance fundamentals contribute to thestrength and performance of our company.
Citi 2022 ESG Report

We believe that effective management of our ESG
priorities helps to improve business resiliency,
risk mitigation and value generation. The sameis true for our clients, with whom we partner tosupport and finance their key ESG objectives.
With this approach in mind, we have identified
ESG priorities related to climate change;sustainable finance; strengthening communities; racial equity and employee diversity,
equity & inclusion, as discussed below andthroughout this report.
In 2022, we made progress on advancing
diversity, equity & inclusion (DEI) throughout
our firm, exceeded our aspirational diversity
representation goals for 2018 and set new,more inclusive goals for 2025. We continued tospend $1 billion annually with certified diverse
suppliers and completed an external audit of our
Action for Racial Equity.
We also continued to progress our net zerofinance and operations commitments. In 2022,
we financed and facilitated an additional$123.5 billion toward our goal of $1 trillion insustainable finance by 2030, putting us morethan a third of the way to our goal. We again met
our goal of sourcing 100% of our operationalenergy use from renewable sources.

Sustainability andClimate Change

We remain committed to sharing our progress andlearning along this journey — as transparency andaccountability are keys to our success.

In addition to creating ESG specialist teams
across our businesses, we have restructured
some teams and business units to respond to
the growing opportunities in the sustainability
and energy transition spaces.

ESG Across
Citi
Many of our business units have expanded theircapacity and capabilities to serve the evolving
needs of our clients. Across the firm, our teams
are prepared to support and work with ourclients, services and products in support oftheir ESG strategies and related goals. We have
ESG specialists in Banking, Capital Markets andAdvisory Services, Global Markets, Treasury andTrade Solutions and Citi Global Wealth.

In 2021, we created our Natural Resources
and Clean Energy Transition group that pulled
together the energy, power and chemicals
businesses. We have more recently built out our
Clean Energy Transitions team to equip us toprovide advisory services and capital solutions
for companies developing energy transition
technologies.
And as important, we are building capacity
through internal presentations, town halls andtraining pilots for industry banking and risk
teams, so that our bankers are equipped toengage with clients on their ESG priorities andhow Citi can help to support their ambitions.

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ESG at Citi

Sustainable Finance

ESG Across Citi

ESG Governance at Citi

Some highlights of our approach for2022 include:• Expanding and realigning our Climate
Risk team to be part of the Enterprise Risk
Management function within Risk, further
adding expertise and embedding climate
within our risk management policies andpractices• Building out our Clean Energy Transitions
team (formed in 2021 and expanded in 2022
to include Corporate Banking), which focuseson providing advisory services and raising
capital for companies developing energy
transition technologies• Launching two climate training pilots for our
Banking, Capital Markets and Advisory; Risk
Management; and Global Functions teams,
involving virtual and in-person sessions
providing foundational knowledge of climate
and sustainability and assessment of climatetransition plans• Establishing a new position — the Head of
Net Zero Operations — to provide leadershipand expertise to help us reach our net zerooperations commitment

Talent and DEI
We constantly strive to ensure Citi remains agreat place to work — where people can thrive
professionally and personally. Our commitment
to DEI 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 (DEI)
Officer and Global Head of Talent oversees
our efforts to promote DEI in the workplace.
Citi 2022 ESG Report

Climate Risk & Net Zero
Our Material ESG Issues

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

Appendices

Stakeholder Engagement at Citi

Reporting to the Global Head of Human
Resources, the Chief DEI Officer and Global
Head of Talent works in partnership with senior
management, particularly members of the
Executive Management Team, who co-chair our
Inclusion Networks.
Some highlights of our approach for 2022
include:• Exceeding the aspirational representation
goals we initially set in 2018 and expanding
our goals through 2025 to be more inclusive
and more global so that Citi better reflects
the communities we serve• Continuing to make progress on closing theraw pay gap for women globally as well as for
U.S. minorities• Expanding mental health and well-being
offerings to support our colleagues aroundthe world• Continuing the enterprise-wide rollout
of unconscious bias training and making
inclusive leadership training available
for managers

Community
InvestingCommunity Investing and Development(CID) is an integrated team that works acrossbusinesses and functions at Citi to catalyze
positive social impact in communities aroundthe world. CID comprises the following teams:• Citi Impact Fund, which invests in“double-bottom line,” U.S.-based companies
that are addressing societal challenges,
including financial inclusion, future of work,social infrastructure and climate resilience• Citi Social Finance, which works across Citi
businesses globally to expand financial
inclusion and accelerate access to basic
services in emerging markets• U.S. Community and Business Engagement,
which manages relationships with advocacy
and consumer protection organizations
to gain insights into issues affecting lowand moderate-income communities andcommunities of color• Community Relations, which catalyzes
economic opportunity and financial accessby engaging and partnering with local
community leaders and organizations acrossthe Citi footprint
The Citi Foundation is a separate legal entity
funded by Citi to organize flagship community
programming in three areas: youth economic
opportunities, financial inclusion andcommunity solutions. Underlying our approachis the notion that complex societal challenges
require multifaceted solutions. We strive toshare our expertise with, and learn from, ourpartners and stakeholders about ways we canenhance impact.

ESG
Governanceat CitiGood governance is a fundamental principle
at Citi, and we strive to be at the leading edgeof best practices. We strive to report on our
activities with accuracy and transparency andcomply with the laws, rules and regulations
that govern our businesses. Our corporate
governance structures, policies and processes
promote a culture of accountability and ethicalconduct across our firm.
The Citi Board of Directors has ultimate oversightof our work to identify, assess and integrate
ESG and sustainability-related risks andopportunities throughout Citi, including our
climate-related work and talent and DEI 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• Compensation, Performance Management
and Culture Committee• Nomination, Governance and Public Affairs
Committee• Risk Management Committee• Technology Committee
In addition to oversight by the full Board, theNomination, Governance and Public Affairs
Committee oversees the company’s ESG
activity, including reviewing our policies andprograms for sustainability, climate change,
human rights, diversity and other ESG matters,
as well as advising on engagement with external
stakeholders. For more information on the roles
and responsibilities of this committee, see theNomination, Governance and Public Affairs
Committee charter.
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 responsibilities of this committee.
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ESG at Citi

Sustainable Finance

ESG Across Citi

ESG Governance at Citi

The Risk Management Committee provides
oversight of and reviews key risk policies,
including those related to environmental, socialand climate risk. For more information on theroles and responsibilities of this committee, see
the Risk Management Committee charter.
Although not a standing committee of the Board,
the Transformation Oversight Committee
provides oversight of management’s remediationof 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 through theTransformation process will continue to improve
our overall governance processes.
The Global ESG Council provides a senior
management forum for oversight of our
ESG commitments and priorities. In 2022,
the Council reviewed sustainable financeprogress, climate data governance, updates
on progress toward our net zero operations
goal and our sector target-setting process foremissions reductions in our lending portfolio.
Council members also oversaw our progress
on workforce DEI representation goals and our
Action for Racial Equity external audit results.
In 2022, we expanded oversight by our Board of
Directors and codified alignment of ESG issues
to certain Board Committees, such as our
Net Zero Plan, climate risk management andthe controls and processes around climate and
ESG disclosures.

Citi 2022 ESG Report

Climate Risk & Net Zero
Our Material ESG Issues

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

Appendices

Stakeholder Engagement at Citi

Ethics and Business Practices
We work to maintain the public’s trust byadhering to the highest standards of ethicalconduct. We ask our colleagues to ensure that
their decisions pass three tests: they are in ourclients’ interests, create economic value and arealways systemically responsible. When we dothese things well, we make a positive financial
and social impact in the communities we serve.
Ethics and responsible business practices areamong the most material ESG issues for Citi
and our stakeholders. The Compensation,
Performance Management and Culture
Committee oversees the incentive compensation structure for senior management at Citi,
as well as management’s efforts to foster andsupport the desired culture and promote ethicaldecision-making within the organization. The
committee also oversees efforts to promote
diversity and inclusion in the workplace in hiring,
retention and staff development practices atCiti. To learn more about the responsibilitiesof the committee, see the Compensation,
Performance Management and Culture
Committee charter.
The Ethics and Culture section of this reportprovides more information about efforts toencourage a culture of ethics at Citi.

Remuneration
ESG-related goals are incorporated into a
number of executive scorecards, which aggregate
key elements of performance management tied
to the determination of incentive compensation
for these executives.

Diversity, equity & inclusion, including representation of women and U.S. Black colleagues
at the Assistant Vice President to Managing
Director levels, continue to be included inscorecards for our senior executives. Citi also
incorporates shareholder and stakeholder
input on executive pay into our Compensation
Philosophy.
Executive scorecards for certain membersof executive management and other senior
managers include progress on our Net Zero Plan
and target setting, our $1 Trillion Sustainable
Finance Goal and climate risk management.

Specifically, driving the delivery of sustainablefinance under our $1 trillion goal is included in
the scorecard for our CEO.
Developing a net zero operations plan is on thescorecard of our Head of Enterprise Services andPublic Affairs. Developing and operationalizing
our Net Zero Plan for our financing and 2030
targets are also on the scorecard of the CEOof the Institutional Clients Group (ICG), Headof Enterprise Operations & Technology, Chief
Risk Officer and Global Co-Heads of Banking,
Capital Markets and Advisory (BCMA). For more
information, see our 2022 TCFD Report.

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ESG at Citi

Sustainable Finance

ESG Across Citi

ESG Governance at Citi

Climate Risk & Net Zero
Our Material ESG Issues

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

Appendices

Stakeholder Engagement at Citi

Our Material ESG Issues
In 2022, we conducted a materiality assessment to identify our most relevant (or “material”) reporting
topics from an ESG perspective — which is a broader standard than the one used in our financial
disclosures. (For more information, see A Note on Materiality and Forward-Looking Statements.)
These topics, which were identified based on internal stakeholder interviews and external research,are provided in the material issues table below. Our materiality assessment incorporated a “double
materiality” approach, meaning that it focused on understanding topics that could represent risks andopportunities to Citi, as well as topics through which Citi may have impacts on external stakeholders,society, the environment and/or the economy. The ESG topics identified, which we refer to as “material
ESG issues” throughout this report, inform which issues we report on, which issues we consider raising
to our Board of Directors and how we establish our ESG priorities.
The results of this assessment are generally consistent with our previous materiality assessment,
undertaken in 2020. They reflect the ongoing importance of issues connected to climate change;
diversity and social justice; and business ethics and governance.

Material ESG Topics*

Key Stakeholders**
Clients andCustomers

Employees

Suppliers

Communities
and NGOs

Investors

Governments
and Regulators

Environmental
Biodiversity: Our role in supporting the number, genetic variability and variety of species essential to global andbioregional ecosystem resilience
Climate Change: Reducing our own contribution to climate change, while financing and facilitating projects
that accelerate the transition to a low-carbon economy
Environmental Justice: Enacting environmental policies and practices that support the fair treatment andinvolvement of people of all races, national origins and income
Operational Footprint: Reducing direct impacts by managing energy use, water consumption, recycling,
waste and green building design
Products and Services with Environmental or Social Benefits: Providing products
and services that drive more equity in society and that protect the environment
SocialCommunity Investment: Enabling greater cohesion with community stakeholders through public-private
partnerships, monetary or in-kind donations, volunteer time or employee fundraising/match schemes
Employee Health and Well-Being: Creating workspaces that promote employee wellness
and engaging employees in our effort to maintain a culture of safety, sustainability and wellness
Financial Inclusion: Engaging with community banks and low-income stakeholders andorienting the company’s place in the market to serve underserved communities
Human Rights: Respecting the basic rights and freedoms of clients, customers, employees, suppliers andIndigenous communities in all our banking activities
Citi 2022 ESG Report

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ESG at Citi

Sustainable Finance

ESG Across Citi

ESG Governance at Citi

Climate Risk & Net Zero
Our Material ESG Issues

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

Appendices

Stakeholder Engagement at Citi

Material ESG Topics*

Key Stakeholders**
Clients andCustomers

Employees

Suppliers

Communities
and NGOs

Investors

Governments
and Regulators

Social (continued)
Racial Equity/Racial Justice: Implementing policies and programs that promote equal opportunity andtreatment for people of all races and/or ethnicities
Talent Attraction, Retention and Development: Adopting an approach to recruiting,hiring, developing and retaining employees to create positive working conditions so that our employees can thrive
Workforce Diversity, Inclusion and Equal Opportunity: Enhancing our efforts topromote equal opportunities for all people and supporting a culture of diversity, equity &inclusion in the workplace
GovernanceBusiness Ethics: Following our internal policies including those pertaining to anti-corruption, bribery andanti-competitive behavior; complying with laws; and maintaining transparency around political engagement
Business Model Resilience: Creating, developing and deploying a business model that canmeet significant challenges such as natural disasters, pandemics and global climate change
Data Security/Financial Product Safety: Executing the policies, procedures and programs designed tosafeguard the privacy of information shared by employees, customers and clients
ESG Governance: Aligning with stakeholder interests with consideration for environmental and social impacts
Innovation and Digitization: Problem-solving with clients, partnering with experts and fostering anenvironment that values experimentation and technological advancements
Public Policy and Regulation: Public policies that support the interests of our company,
clients, shareholders and employees in the countries and regions where we operate
Selling Practices: Addressing issues of compliance, employee incentives and fairness to thecustomer in sales practices
Stakeholder Engagement: Actively exchanging input, insights, expertise and perspectives
with a wide array of stakeholders as we pursue our sustainability objectives
Systemic Risk Management: Navigating an evolving risk landscape to make responsible decisions andserve the long-term interests of our clients and the communities in which they operate
Transparency and Trust: Protecting the confidentiality of our clients’ information, while disclosing
information to stakeholders that demonstrates our accountability and credibility*For more information, see A Note on Materiality and Forward-Looking Statements.
**A dot indicates that, based on our analysis, this issue is important to and could potentially impact the stakeholder.

Citi 2022 ESG Report

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ESG at Citi

Sustainable Finance

ESG Across Citi

ESG Governance at Citi

Climate Risk & Net Zero
Our Material ESG Issues

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

Appendices

Stakeholder Engagement at Citi

Stakeholder Engagement at Citi
Citi embraces a culture of openness and inclusivity. We incorporate the interests of a wide array of stakeholders into our business. We believe this sharing of knowledge andresources can help us provide the best services and products for our clients and support the long-term resiliency of our business. We consistently hold ourselves accountable toour commitments and are transparent with our stakeholders about the progress we are making. This table includes examples of our recent stakeholder engagement efforts.

Examples of ESG Stakeholder Engagement in 2022
Stakeholder GroupHow We Engage

Examples from 2022

Clients andCustomers• Meetings to share our ESG performance and to understand our clients’approaches to climate change as well as managing environmental andsocial risks• Supported clients in financing or facilitating environmental and social finance activities, including thosethat are counted toward our $1 Trillion Sustainable Finance Goal

• Social media, including our Customer Service Twitter handle (@ AskCiti)• Customer satisfaction survey

Communities• Engaged with our clients to discuss how they evaluate carbon-intensive assets and discuss approaches toenvironmental, social and climate risk management, giving consideration to transparency and their overall
decarbonization strategies• Citi Blog

• Developed a Net Zero Review Template to aid engagement efforts with clients to better understand theirclimate strategies, beginning with the Energy and Power sectors• Specialized websites, including our Communities website• Served as a founding member of the 2X Collaborative, a newly established organization designed to help
mobilize gender-focused investments and capital for women’s empowerment• Collaboration with community organizations and NGOs on issues
relevant to their organizations and our business• Dialogue sessions with community advocates and leaders, civilrights and consumer protection organizations• Held annual Citi Global Community Day Reimagined 2022, with more than 56,000 volunteer engagements
across 84 countries and territories• Employee volunteering events

Employees• The Citi Foundation provides grants and works with local and national
community organizations• The Citi Foundation supported Living Cities, a collaborative of the largest philanthropic foundations in the
U.S. dedicated to closing racial wealth gaps

• Company intranet, email, mail and meetings• Featured stories on the Citi internal intranet and blogs from Citi senior executives, employees and partners,
highlighting our progress on ESG priorities• Voice of the employee surveys• Inclusion Networks and Citi Green Champions• Online training• Performance reviews• Citi Blog

Citi 2022 ESG Report• Launched the Citi Green Champions Network, our updated Green Teams program, to support global employee
engagement and promote awareness of Citi sustainability initiatives• Hosted in-person and virtual events for Citi Inclusion Networks in recognition of various heritage months,
days and observances• Provided managers with trainings and toolkit resources on inclusive leadership

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Sustainable Finance

ESG Across Citi

ESG Governance at Citi

Climate Risk & Net Zero
Our Material ESG Issues

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

Appendices

Stakeholder Engagement at Citi

Examples of ESG Stakeholder Engagement in 2022 (continued)
Stakeholder GroupHow We Engage

Examples from 2022

Governments andRegulators• Meetings, briefings, letters, conference calls, hearings, industry association events, public policy forums, public conferences and convenings• Submitted comment letters on the SEC’s proposed climate disclosure rule and the the Basel Committee on
Banking Supervision’s proposed principles for the risk management of climate-related financial risks• Membership on government councils and committees and industry
association boards• Became a founding member of the Biden-Harris administration’s Economic Opportunity Coalition, which aims
to catalyze and align public and private investments to address economic disparities and accelerate economic
opportunity in underserved communities in the U.S.
• Head of Community Investing and Development is a member of the Federal Insurance Depository Corporation(FDIC)’s Committee on Financial Inclusion• Participated in working groups for Just Energy Transition Partnerships (JETP) in Indonesia and Vietnam

Shareholders• Group calls and meetings (quarterly earnings calls, conferences andCiti-hosted group meetings)• One-on-one meetings to discuss financial performance and ESG issues• Communications through our Investor Relations and Corporate
Governance teams• Working groups
Stakeholder
Groups and• Joint business ventures
Nongovernmental• Industry groups, roundtables, workshops and events
Organizations (NGOs)

Suppliers• Held Fall ESG investor roadshow to discuss our ESG-related performance• Participated on panels at ESG-related conferences, discussing our sustainable debt issuance, climate
strategy and cultural transformation• Added a new ESG section to the Investor Relations website• Participated in a working group facilitated by RMI, formerly Rocky Mountain Institute, to design and develop
the Sustainable STEEL Principles (SSP), a solution for measuring and disclosing the climate alignment of steel
lending portfolios with 1.5˚C climate targets• Meetings, calls, conferences and workshops, Best Practice Speaker
Series, emails• Advanced a Supplier Diversity Mentor Protégé program• Published supplier requirements and principles• Supported the National Minority Supplier Development Council (NMSDC) Centers of Excellence Certificate Program• Hosted “Doing Business with Citi” supplier best-practices event in LATAM in conjunction with WEConnect• Awarded New York & New Jersey Minority Supplier Development Council (NYNJMSDC) National Corporationof the Year

Citi 2022 ESG Report

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

We continue to make progress toward our goalof reaching $1 trillion in sustainable financeby 2030, which is compatible with the UN
Sustainable Development Goals (SDGs). Frommobilizing financing to schools in Peru andlending to smallholder farmers in Nigeria, toadvancing renewable energy in the Middle East,
supporting the global shift toward electricvehicles and helping to ease the affordable
housing crisis in the U.S., this goal reflects ourenvironmental and social priorities across ourbusinesses.
Over the past three years, we are proud tohave financed and facilitated $348.5 billion
toward our $1 Trillion Sustainable Finance
Goal, which includes green bonds, social andsustainable bonds, sustainability-linked
loans and sustainability-focused mergers
and acquisitions.

Citi 2022 ESG Report

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

Sustainable
FinanceOur $1 Trillion
Goal

Building Equitable & Resilient Communities

The transactions that are counted toward the$1 trillion goal include environmental solutions tofurther accelerate the transition to a low-carbon
economy, such as renewable energy, energy
efficiency, clean technology and green buildings
to the circular economy, water quality andconservation, sustainable transportation andsustainable agriculture and land use. To help
address critical social issues, our goal includes
financing in education, affordable housing andbasic infrastructure, healthcare, economic
inclusion and food security. Our unique mix ofglobal and local expertise across a wide range
of industries means that we are able to meet ourclients where they are and help them to advancetheir sustainable development 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.

QUICK LINKS
Our $1 Trillion Goal in Action
Financing the Low-Carbon Transition
Financing Social Impact

An eligible transaction may meet multiple criteria,
but it is counted only once toward our $1 Trillion
Sustainable Finance Goal. Because of the interconnected nature of sustainable finance, we
see a number of transactions that deliver both
environmental and social benefits.
We track our sustainable finance activities
using third-party financial league table credit,
where applicable. The industry league tables
track public financial activities and rank
financial institutions based on their role (e.g.,lead arranger, book runner) 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,
such as greenhouse gas (GHG) emissions
avoided, renewable energy capacity added, jobs
supported and people served.

MEASURING THE IMPACT OF OURSUSTAINABLE FINANCE
We take a conservative approach in estimating impacts, including only deal activity
for which reasonable methodologies anddata sources are available, and excluding
deals for which we have limited transparency
and details. We consider impact measurement an area of ongoing education andimprovement.
We estimate that since 2020, our sustainablefinancing activity has resulted in:

5M+

metric tons of GHG avoided as a result of ourrenewable energy, green affordable housing
and energy efficiency financing activities

2M+
40M+
jobs supported

people worldwide benefiting

Page 12

ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable
Finance in Action
The global market for sustainable finance has
expanded rapidly over the last few years, as
investors and companies recognize the rolethat the financial services sector can play infinancing and facilitating projects that supportclients’ transitions to a more sustainable,socially responsible, low-carbon economy.
We continue to advance our goal for sustainablefinance across a wide range of products andservices. These include sustainable debt
issuances such as thematic green bonds,
social bonds and sustainability bonds, as wellas sustainability-linked loans and bonds thatare tied to ESG performance; municipal bonds
with use of proceeds directed toward environmental and social benefits; sustainable supply
chain finance; sustainability-focused lending
and investments; and financing and advisory
services to help companies achieve their net
zero strategies.

Sustainable Operations

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact$1 Trillion in Sustainable Finance by 2030
Our $1 Trillion Sustainable Finance Goal aims to further the transition to asustainable, equitable, low-carbon economy that supports society’s environmental,social and economic needs. Compatible with the UN SDGs, we announced thegoal in 2021 with the intention to reach it through a combination of environmental
and social finance activities. As the world’s most global bank, Citi can help mobilize
capital to advance progress toward the goals.

SUSTAINABLE FINANCE
GOAL PROGRESS$1T
by 2030ENVIRONMENTAL FINANCE GOAL CRITERIA

Circular
Economy

Clean
Technology

EnergyEfficiency

Green
Buildings

Renewable
EnergySustainable
Agriculture andLand Use

Sustainable
Transportation

Water Quality andConservation

$750B

$500B

SOCIAL FINANCE GOAL CRITERIAFor continued discussion of our $1 Trillion Sustainable
Finance Goal, see page 17.

Affordable Basic
Infrastructure

Economic
Inclusion

Education

See our detailed goal data

Citi 2022 ESG Report

Building Equitable & Resilient Communities

Affordable
Housing

Diversity& Equity

Food
Security$348.5B
Total since 2020

$250B

Healthcare$0Page 13

ESG at Citi

Climate Risk & Net Zero

Sustainable Finance
Our $1 Trillion Goal

Financing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact$1 Trillion Sustainable Finance Goal

Sustainable Finance Criteria

2020

2021

2022

Total

%

Circular Economy

$0.4

$2.1

$0.3

$2.8

0.8%

FINANCIAL DATA

Clean Technology

$0.6

$0.0

$2.5

$3.1

0.9%

In billions USD

Energy Efficiency

$1.2

$2.5

$0.5

$4.1

1.2%

Green Buildings

$1.6

$1.4

$1.3

$4.3

1.2%

Renewable Energy

$7.0

$19.6

$17.3

$43.9

12.6%

 Sustainable Agriculture andLand Use

$ 0.2

$0.0

$0.5

$0.8

0.2%

Sustainable Transportation

$ 3.7

$46.7

$29.4

$79.8

22.9%

Water Quality and Conservation

$ 1.4

$1.6

$3.1

$6.2

1.8%

Environmental: Multiple †$ 12.9

$49.4

$31.7

$94.1

27.0%

$ 28.8$123.5$86.7$238.968.6%

Affordable Basic Infrastructure

$0.7

$0.3

$0.1

$1.2

0.3%

Affordable Housing††

$10.4

$10.6

$9.2

$30.2

8.7%

Diversity and Equity

$0.3

$0.3

$0.0

$0.6

0.2%

Economic Inclusion

$3.9

$2.7

$1.2

$7.9

2.3%

Education

$4.3

$0.9

$3.1

$8.4

2.4%

Healthcare

$4.1

$2.1

$0.9

$7.1

2.0%

$0.0

$0.5

$0.1

$0.6

0.2%

$1.4

$4.3

$4.2

$9.9

2.9%

Total Social

$25.2

$21.8

$18.8

$65.8

18.9%

Environmental and Social†††

$8.5

$17.3

$18.0

$43.7

12.6%

Total

$62.5

$162.5$123.5$348.5

100%

Region

2020

2021

2022

Total

%

Asia Pacific

$5.0

$14.2

$14.1

$33.3

9.5%

Europe, Middle East and Africa

$15.6

$44.3

$58.3

$118.2

33.9%

Latin America

$2.4

$8.7

$5.5

$16.6

4.8%

North America

$39.4

$95.3

$45.6

$180.3

51.7%

Total

$62.5

$162.5$123.5$348.5100%*

Sustainable Finance

2020

2021

2022

Total

%

$ 62.5$ 162.5$ 123.5$ 348.5

100%

Business

2020

2021

2022

Total

%

Investment Banking$ 50.1$ 150.3$ 107.0$ 307.4

88.2%

Mergers and Acquisitions$ 5.3$ 57.4$ 34.9$ 97.5

Debt Capital Markets$ 30.4$ 78.2$ 57.9$ 166.5    Thematic Bonds (Green, Social, Sustainable)$ 25.8$ 44.7$ 27.4$ 97.9   Sustainability-Linked Bonds

$ 0.0

$ 4.3

$ 3.5

$ 7.8

   Sustainability-Linked Loans$ 4.6$ 28.6$ 25.1$ 58.3    Green and Other Loans

$ 0.0

$ 0.7

$ 1.8

$ 2.5

Equity Capital Markets

$ 2.8

$ 3.4

$ 2.3

$ 8.5

Municipal Underwriting$ 11.6$ 11.3$ 11.9$ 34.9$ 10.7$ 10.2$ 14.2$ 35.1

Corporate Lending**

Total Environmental

10.1%

Treasury and Trade Solutions

$ 1.4

$ 0.6

$ 1.0

$ 3.0

0.9%

Markets***

$ 0.3

$ 1.3

$ 1.3

$ 2.9

0.8%

Corporate/Other (Citi Investments)

$ 0.0

$ 0.1

$ 0.0

$ 0.2

0.0%

Total

$ 62.5$ 162.5$ 123.5$ 348.5

100.0%* Figures may not sum to total, or in some cases, may appear as zero, due to rounding. Figures for prior years may differ from previous reporting due to updated league
table data and subsequently identified eligible transactions.
** “Corporate Lending” includes, but is not limited to, financing and securitization for clean energy finance, community capital (affordable housing), project 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 as private
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 framework comprises 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.

Citi 2022 ESG Report

Food Security
Social: Multiple†

Page 14

ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact$1 Trillion Sustainable Finance Goal
IMPACT DATAIn thousands
The reporting on our progress toward our $1 Trillion Sustainable Finance Goal includes measuring the estimated environmental and social impacts associated with contributing
sustainable finance activities financed and facilitated by Citi, where feasible. Our impact measurement methodologies align with our financial tracking approach for the goal,
reporting our share of the impacts proportional the bank’s 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 unfeasible to estimate impact due to limited data availability, impacts have not been included.

‡

Environmental Impacts (in thousands)

2020

2021

2022

Total

1) Avoided greenhouse gas emissions (mt CO2e)

2,665

1,222

1,332

5,219

   From renewable energy projects

2,480

996

1,167

4,642

   From green affordable housing projects

2

1

1

3

   From energy efficiency projects

184

225

164

573

2) Renewable energy capacity added (MW)

2

1

1

3

Social Impacts (in thousands)

2020

2021

2022

Total

3) Total people impacted

11,131

14,902

13,98340,015

From microfinance lending, basic infrastructure, home solar systems,
education and other social purposes‡,‡‡

307

1,407

1,674

3,388

Through renewable energy projects

1,823

1,035

513

3,371

From affordable housing projects

52

45

182

278

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

8,948

12,415

11,61532,9784) Total jobs supported

361

1,398

294

2,053

From microfinance lending, basic infrastructure, home solar systems,
education and other social purposes ‡,‡‡

307

1,352

200

1,860

Through renewable energy projects

4

4

10

19

From affordable housing projects

39

31

67

136

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

10

11

17

38

For microfinance 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.

Citi 2022 ESG Report

Page 15

ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

Impact Calculation Methodology Summary
To estimate the environmental and social impacts of Citi-financed projects and activities, we looked at thefollowing metrics:• Avoided GHG emissions are the amount of GHG emissions avoided because of our share of financing forrelevant projects. This is calculated by applying regional electric grid factors 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 certified (e.g., LEED) green housing units. Impacts reflect the per annum benefit, as
opposed to the benefit over 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 householdenergy use multiplied by the percentage of energy savings per thousand U.S. dollars invested. The result is
multiplied by the total financing (e.g., warehouse) value and the CO2 emissions factor.
• For green buildings, the average household energy savings is equal to the average energy use of a
non-LEED-certified building multiplied by the percentage of energy savings by a LEED-certified building.
The result is multiplied by the number of square feet and the per-square-foot CO2 emissions factor.
• Renewable energy capacity added refers to the size of new renewable energy capacity installed as a resultof our share of renewable energy project financings.
• People impacted refers to the direct number of people benefiting from the use of Citi-financed lending activities
or underwritten financing proceeds for small businesses, renewable energy and energy efficiency projects,
affordable housing, and underwritten municipal bond proceeds for transit, water, utility, economic development
and education projects.

• 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, the number of people impacted is calculated using external reference data on 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 improvement, people impacted is estimated as the share of a municipality’s population benefiting from
improved utility facilities, and for financing related to economic development, people impacted refers to thenumber of individuals directly benefiting from the expansion of new public buildings.
• Direct jobs supported refers to the number of jobs supported by the uses of Citi-financed lending 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 thatreceived loans. For projects involving new construction or maintenance and repair of affordable housing units,
renewable energy generation, schools, transit or water systems in the U.S., jobs supported are calculated as
Citi-financed 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 theshare 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.

• 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. For larger telecoms providing access tohouseholds, people impacted refers to households enabled with digital access by the client in the country
supported by Citi financing.

Citi 2022 ESG Report

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact(Continued from page 13)

In a challenging year for the bond market overall,
the global sustainable debt market declined in
2022 for the first time since 2020.1 Yet despite
rising interest rates and economic uncertainty,
sustainable/ESG debt issuance remained
resilient compared to non-ESG debt issuance.2
Our 2022 progress toward the $1 Trillion
Sustainable Finance Goal was partiallyreflective of current market conditions. As seenin the reporting on page 14, sustainable financegoal activities from the M&A and debt capital
markets businesses declined year over year,
contributing to the overall decline in annual
progress compared to 2021.
We are seeing consistent sustainable financeactivity that meets multiple sustainability
criteria and blurs the lines between environmental and social impact. These transactions
illustrate the interrelated areas of impact insustainable finance. Moreover, while we areseeing consistent volumes in the pure-playsocial finance space, we are seeing moredemand for blended finance instruments, aswell as increasing focus on energy transition.
We will continue to closely monitor the social
finance market and identify opportunities.
Overall, we remain committed to advancing
sustainable finance activity and staying on
track to achieve our target of financing andfacilitating $1 trillion by 2030.

Sustainable Finance Across
Our Organization
Delivering on our sustainable finance goal is an
integrated effort across our organization. Many
Citi business units — including Banking, CapitalMarkets and Advisory; Global Markets; Citi
Global Wealth, Trade and Treasury Solutions;Citi Community Capital; and Citi Commercial
Bank — are dedicated to delivering products andservices that can contribute to our sustainablefinance goal. In recent years, we have also
created teams such as the Sustainability andCorporate Transitions team, which engages
with our clients to support their low-carbon
transition efforts; the Clean Energy Transitions
team, which provides advisory services andraises capital for companies developing energy
transition technologies; and we also continue toexpand and deepen the scope of the Citi Social
Finance team, which partners with business
units across Citi to help drive innovative efforts
on social finance activities in emerging markets.
For additional information on how our teams
engage with clients on their sustainability andtransition journeys, see Low-Carbon Transition
and Social Finance.

SUSTAINABILITY SERIES FROM CITI GLOBAL PERSPECTIVES & SOLUTIONS
From water and climate change to electric vehicles and agriculture, Citi Global Perspectives& Solutions explores the challenges and solutions on the path toward achieving the
Sustainable Development Goals.
In 2022, Citi GPS published reports on:
Climate Finance — Mobilizing the Public and Private Sector
to Ensure a Just Energy Transition
A cumulative total of $125 trillion in capital investment isneeded for the global economy to reach net zero by 2050.
Food Security — Tackling the Current Crisis and Building
Future Resilience
Food insecurity continues to impact almost a third of the global
population, and a sustainable, long-term solution for global
food security is not possible without also tackling climate change,
which has significant impacts on food production.
Energy Transition — Gaining Momentum on the Pathto Net Zero
This report examines a range of economic and political challenges,
within and among countries, that continue to impact the relianceon fossil fuels and the global energy transition.
Food and Climate Change — Creating Sustainable Food Systems
for a Net Zero Future
The global food system — agriculture and food production
collectively — is responsible for one-third of human-induced
global greenhouse gas emissions. Citi GPS analyzes four
potential solutions to reduce emissions.
Eliminating Poverty — The Importance of a Multidimensional
Approach in Tackling SDG 1“U.S. Sustainable Bond Market Well Positioned Despite General Slowdown in Bond Financings” (March 13, 2023), White & Case, https://debtexplorer.
whitecase.com/leveraged-finance-commentary/us-sustainable-bond-market-well-positioned-despite-general-slowdown-in-bond-financings#!.
2
ESG Flows and Markets (December 2022), Institute of International Finance, page 2, https://www.iif.com/portals/0/Files/content/Research/IIF%20
ESG%20Flows%20and%20Markets_Nov-Dec.%202022_v1.pdf.
1

Citi 2022 ESG Report

To make progress towards poverty reduction, we need toconsider ways to mobilize more investors and businesses
to adopt this goal.

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

Our $1 Trillion Goal in Action
Over the past year, we have helped expand access to energy by bringing solar and battery storage projects online and increase accessto healthcare, education, clean water and other basic infrastructure. The following are examples of finance transactions from 2022
that contributed to the $1 Trillion Sustainable Finance Goal.

Renewable Energy

Sustainable Agriculture and Land Use

Renewable Energy

Financing Renewable Energy in the U.S.

Supporting Wildlife Conservation

Expanding Solar Energy in Abu Dhabi

OUR ROLE Served as coordinating lead arranger, lenderand swap syndication arranger to provide a comprehensive
financing package for the Great Cove Solar projects

OUR ROLE Served as bookrunner for the World Bank’s issuance of a Wildlife Conservation
Bond in support of South Africa’s efforts to conserve endangered species

OUR ROLE Managed a project bond offering for theNoor Abu Dhabi solar power project

The objective of the bond is to secure and grow the black rhinoceros population,
support over 2,000 jobs for the local community and improve the management of a
153,000-hectare area

1.2

220

megawatts (AC) of renewable energy capacity

In December 2022, Citi provided AES Clean Energy withfinancing to fund the construction and operation of theGreat Cove solar photovoltaic projects located in Fulton andFranklin Counties, Pennsylvania. Great Cove is comprisedof two projects expected to begin commercial operationsin 2023 and 2024, and together will provide a total of 220
MWAC in renewable energy capacity. Output from the solar
projects will be supplied to the University of Pennsylvania,
an Ivy League institution and leading research university
in the U.S. Since 2016, Citi has supported and provided
several financings for AES Clean Energy, which has adiversified operating portfolio of wind, solar and storage
projects across the U.S.

Citi 2022 ESG Report

In March 2022, Citi supported the World Bank (International Bank for Reconstruction
and Development, IBRD) in issuing a $150 million first-of-its-kind, outcome-based
Wildlife Conservation Bond (WCB) that contributes to protecting and increasing
black rhino populations in two protected areas in South Africa, the Addo ElephantNational Park and the Great Fish River Nature Reserve, by providing conservation
investment payments to the two parks in lieu of coupon payments to investors.
Rhinos are considered an umbrella species, which play a crucial role in shaping
entire ecosystems on which countless other species depend. As a World Bank
Sustainable Development Bond, the WCB combined a “use of proceeds” bond,which supports the financing of sustainable projects in World Bank countries, withan outcome-based mechanism that provides a return to investors if the projectsucceeds. The innovative transaction structure created the opportunity for bondmarket investors to engage directly in a conservation project, supported by quantifiable metrics and models.

gigawatts DC (881 megawatts AC)of installed capacity

In January 2022, Citi successfully priced a $700.8 million
Benchmark Green 144A/RegS project bond offering on
behalf of Sweihan PV Power Company (SPPC). Citi acted
as lead global coordinator and joint lead manager on
this offering. SPPC owns and operates the Noor Abu
Dhabi solar photovoltaic power project, the world’s
largest operating single-site solar PV project. Noor
Abu Dhabi will result in 9 million metric tons of CO 2
savings during 2020-2030. Emirates Water & Electricity
Company, 100% indirectly owned by the governmentof Abu Dhabi, acts as the sole offtaker under a 30-year
fixed-price power purchase agreement. The bond was
the first green project bond issued in the Middle Eastand North Africa region.

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Food Security

Improving Livelihoods for Nigeria’s Smallholder Farmers
OUR ROLE Financed Babban Gona’s procurement of agricultural inputs
for on-lending to smallholder farmers
More
than

40,000

farmers in northern
Nigeria supported

Babban Gona, which means Great Farm in the Hausa language, is a
mission-driven agricultural services company that seeks to create
opportunities for underemployed young people through jobs andtraining in agriculture — opportunities that have helped to support
stability in rural communities. Citi extended $10 million in financing to
Babban Gona to support agricultural inputs credit and harvest advances
to smallholder farmers in northern Nigeria.4,5The loan is part of Scaling Enterprise, a Citi partnership with the U.S.
International Development Finance Corporation and the Ford Foundationthat enables early-stage financing in local currency to companies that
expand access to products and services for low-income communities inemerging markets.6 By increasing lending to Babban Gona’s smallholder
farmers, our financing is expected to enable them to increase theirfarming income by an average of 200% per hectare.

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

Affordable Basic Infrastructure, Economic Inclusion,
Diversity & Equity

Education, Diversity & Equity, andEconomic Inclusion

Supporting Digital Connectivity and
Financial Inclusion in Mexico

Supporting Education in Peru

OUR ROLE Lender
Supports access to smartphones for more than

485,000
48%

low-income people in
Mexico, more thanof whom are
women

For the majority of consumers in emerging markets, the cost of smartphones is prohibitive. All too often, this means smartphones, and theeconomic benefits they provide, are out of reach. The fintech company
PayJoy enables individuals with limited credit history to access smartphones, while paying in installments and building their formal credit
record. In 2022, Citi extended $100 million in financing to PayJoy to help
increase digital connectivity and financial inclusion for underserved
people in Mexico. This builds on Citi Ventures’ 2021 venture capital
investment in PayJoy.

OUR ROLE Financing to support the constructionof schools

3,000
43%

Nearlystudents are directly supported
in accessing education

are girls

To help increase access to high-quality education,
Citi loaned $20 million to Innova Schools to build
and renovate schools in Peru.
Innova Schools has 63 schools in 17 cities in Peru,
serving approximately 50,000 students. Our loan
is expected to enable Innova Schools to bringhigh-quality services to nearly 3,000 additional
students, especially those from the emerging
middle class.7

Babban Gona website, accessed January 2023, https://babbangona.com/.
“Citibank Partners [with] Babban Gona to Provide Support [for] Over 40,000 Smallholder Farmers,” Babban Gona, accessed January 2023, https://babbangona.com/citibank-partners-babban-gona-to-support-over-40000-smallholder-farmers/.
6“Citi, OPIC and Ford Foundation Launch Scaling Enterprise, a $100 Million Financing Partnership to Support Social Enterprises,” (Oct. 23, 2019), Citi, https://www.citigroup.com/global/news/press-release/2019/citi-opic-and-ford-foundation-launch-scaling-enterprise-a-100-millionfinancing-partnership-to-support-social-enterprises.
7“Citi Loans US$20 Million to Innova Schools to Fund Quality Affordable Education in Peru,” (Dec. 4, 2022), Citi, https://www.citigroup.com/global/news/press-release/2022/citi-loans-us-20-million-to-innova-schools-to-fund-quality-affordable-education-in-peru.
4

5

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

Global Reach in Sustainable Finance
Citi is engaged in sustainable finance across the globe. The examples that follow recognize the criticalimportance of supporting sustainable development in middle- and lower-income markets, as wellas projects in developed economies.

REGIONAL REPRESENTATION (2020-2022)
We finance and facilitate sustainable activities tosupport the needs of people and communities aroundthe world. The aggregate contribution of these activities toward our $1 Trillion Sustainable Finance Goal,
broken down by region, is provided below.
Low-Income and Lower-Middle-Income
Countries and Jurisdictions with Citi
Presence*
Upper Middle-Income Countries andJurisdictions with Citi Presence*
High-Income Countries andJurisdictions with Citi Presence*$33.3B
Asia Pacific$16.6B
Latin America$118.2B $180.3B
Europe, Middle East
and Africa

North America

Additional data related to our $1 Trillion Sustainable Finance Goal can be found earlier in this chapter.
*Income classifications defined by World Bank.

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

Examples of sustainable finance transactions across the globe
LOCATION

TRANSACTION DESCRIPTIONSUSTAINABLE FINANCE CRITERIAHIGHLIGHTS

Latin America
BrazilFinancing Aegea Saneamento e Participacões Water and Sanitation
to increase access to clean water and sanitation

Affordable Basic
Infrastructure

$67M

Peru

Expanding access to finance for micro and small enterprises
through Caja Arequipa

Financial Inclusion

9,000+

Supporting Biological E Limited for its working capital requirements, for the manufacture and distribution of vaccines,
including a COVID-19 vaccine

Healthcare

$50M

in
financinghouseholds
supported

704K

people gaining expanded
access to clean water

5,400+of which are
led by women

Asia PacificIndia

investment

Europe, Middle East and Africa

SwedenPart of a syndicate of banks providing a EUR 350 million
uncommitted green trade finance facility to Polestar
Performance AB, a Swedish premium electric performancecar maker, to support its working capital needs

Nigeria, Kenya,
Gabon and the
Democratic
Republic of Congo

Expanding digital inclusion and infrastructure in rural areas
through financing to Airtel Africa’s operating subsidiaries

Sustainable
Transportation€350M

Affordable Basic
Infrastructure$125M

Economic andFinancial Inclusioninfinancingsustainabilitylinked revolving
credit facility

The new green loan facility strengthened
Polestar's financial position and increased
Polestar’s sources of funding, to support
the import of electric vehicles into Europe
and North America

237.7K+

households withaccess to digital
infrastructure

North America
U.S.

U.S.

Citi 2022 ESG Report

Supporting the Breakthrough Energy Catalyst funding programto accelerate development of clean energy technologies

Served as active bookrunner on General Motors’ inaugural
green bond issuance to support the automaker’s transition toelectric vehicles

Clean Technology$50M

Sustainable
Transportation$2.25B

Renewable Energy

investment

in funds fromgreen bond will
support EVs

GM plans to increase capacity
to build 1 million EVs annuallyin North America by 2025

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Financingthe LowCarbon
Transition
Our goal to finance and facilitate activities that accelerate the transition to a
low-carbon economy is a core element of
our $1 Trillion Sustainable Finance by 2030
Goal and our pledge to achieve net zero
greenhouse gas (GHG) emissions for our
financing by 2050.

Helping Our
Clients Navigate
the Low-Carbon
Transition
We believe robust client engagement
across sectors is essential for the global
economy to reach net zero emissions. To
that end, we are working collaboratively
with our clients in decarbonizing andhelping them in their transitions. We are
already engaging with numerous clientson their climate exposure profiles. We
are discussing the specifics of clients’transition plans, including pathways toachieve those plans and the metrics they
are using to assess their progress. We

Citi 2022 ESG Report

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

are also discussing capital expenditure
requirements to achieve their plans andhow they are allocating capital to achieve
their low-carbon business models. We
will continue our engagement with clientsto understand their transition plans ingreater detail as those plans evolve, andhelp them in their strategies to realize
opportunities inherent in transitioning toa low-carbon world.

SUSTAINABLE FINANCE ACROSS CITI

Transforming
Our Business to
Support a LowCarbon Economy
Climate change is a top-of-mind issue forour company and for many of our clients.
To support our clients’ needs, we continue
to expand our expertise, services andproducts across our business to offer
strategic sustainability and ESG services
and solutions. We support clients acrosssectors. We offer customized products
and services to support clients in theirtransition to more sustainable businessmodels and practices to help facilitate
progress toward a low-carbon future.
We have reorganized our businesses
across the firm, with dedicated teams
working on the low-carbon transition.
The table at right illustrates the ways wehave integrated support for our clientsin achieving their low-carbon transition
efforts across our organization.

Citi Team

Sustainable Finance-related Business

Natural Resources
and Clean Energy
Transition (NRCET)

The NRCET team drives client engagement efforts in the Energy, Power, Chemicals and Clean Energy
Transition sectors. This team of corporate and investment bankers brings deep knowledge of these
sectors, the challenges they face and the transformative opportunities open to them.

Sustainability
and Corporate
Transitions (SCT)The SCT team engages with clients at the C-suite and senior levels, across all sectors, to support thetransition of their businesses to a more sustainable, net zero and nature-positive future. The team also
engages with mature and early-stage companies that are developing new technologies, innovations
and sustainable business models. The SCT team provides solutions to clients including strategic advice,
M&A advisory, equity and debt capital markets services, and corporate banking solutions.

Sustainable Debt
Capital Markets(DCM) & Loans

Sustainable DCM & Loans has technical expertise on green, social and sustainability use of proceeds debt
financing, as well as sustainability-linked bonds (SLB) & loans (SLL). The team works with debt capital
markets & loans origination teams as well as industry bankers to originate sustainable issuance and structure
sustainable debt frameworks on behalf of clients around the world. The Sustainable DCM team also advises
Citi Treasury on our own sustainable debt programs.

GlobalInfrastructure
Finance (GIF)

GIF is a debt-focused, client-facing team covering financial advisory (M&A, capital markets, ratings, greenfield
and refinancing situations), lending and underwriting, as well as structuring and placement of public/private
capital markets instruments for clients with interests across various NRCET and Infrastructure sectors.

Global Markets
ESG

Global Markets’ dedicated ESG team works with clients to understand their ESG priorities and challenges todevelop new solutions across fixed-income, commodities, securitized products and sustainable real assets,in addition to a full range of solutions in equities and energy transition. Markets also works with Citi researchand product teams to deliver thought leadership to clients to help integrate and execute their ESG strategies.

Treasury and Trade
Solutions (TTS)

Our TTS team supports clients in understanding how ESG can impact liquidity and working capitalmanagement decisions. Our Sustainable Supply Chain Finance program rewards sustainable suppliers
and incentivizes non-performing suppliers, helping clients improve their supply chain resilience. We also
support Export Agency Finance loans for development projects, partnering with development banks andexport credit agencies. Sustainable Time Deposits and Sustainable Minimum Maturity Time Deposits enableclients to indirectly facilitate investment in environment and social projects. Clients may also invest in arange of third-party Money Market Funds that have been identified by their providers as having ESG-relevant
investment strategies. In 2022, EMEA TTS introduced a recycled plastic cards program for corporate cardcustomers using 85% recycled industrial waste.

Citi Global WealthThrough its Investing with Purpose approach, Citi Global Wealth 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 for private clients to invest alongside our firm’s
institutional clients in capital markets transactions, such as energy transition solutions. Its offeringencompasses four approaches that seek varied sustainability outcomes: Socially Responsible, ESG
Integration, Thematic and Impact.

Citi Commercial
Bank (CCB)

Citi Commercial Bank takes a client-centric approach to supporting mid-sized companies on adecarbonization journey, catalyzing sustainable financing and offering advisory services to companies
amid rising stakeholder expectations on sustainability. CCB supports growing sustainability-focusedcompanies as they look to scale their businesses across the globe, develop solutions and navigatechanging business environments. CCB also plays a key role in facilitating and originating social finance.

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Financing the Low-Carbon Transition

FinancingSocialImpactAddressing societal challenges through social
financing activities is a central part of our$1 Trillion Goal for Sustainable Finance by 2030.
This includes financing activities that support
access to affordable basic infrastructure,
affordable housing, diversity and equity,
economic inclusion, education, food security
and healthcare.

Social Finance in
Emerging Markets
Billions of people around the world lack accessto basic necessities — clean water, education,
electricity, financial products, housing andmedicine — which significantly hampers theireconomic progress and social growth. Our
Social Finance team helps to meet our $1 Trillion
Sustainable Finance Goal by working acrossCiti businesses globally to develop scalable
business platforms and client solutions thatenable the bank, our clients and partners to
expand financial inclusion, accelerate accessto basic services, boost job creation and scalesocial infrastructure development in emerging
markets. The team leverages our firm’s local
expertise, multiple balance sheets and accessCiti 2022 ESG Report

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

to global markets to mobilize capital, with thegoal of providing support to social enterprises
and small businesses in these communities
to accelerate and optimize their work and tointegrate social impact into our business model
as a part of this process. The recent expansionof Citi Social Finance builds on our 15-plus-yeartrack record of developing new business models
and partnerships, leveraging market-based
approaches to help improve the livelihoods of
low-income communities around the world.

In fact, for 13 consecutive years, Citi has been
the No. 1 affordable housing lender in the U.S.,
as published in Affordable Housing Finance.
At Citi, being a leader in the affordable housing
industry does not just mean making debt
and equity capital available to expand the
U.S. affordable housing supply; it also means
being an innovator and market leader. Over the
past several years, we have worked with ourclients 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.

This work, which is focused on supporting
emerging markets, is complemented by oursocial finance activities in higher-income
countries. Examples include our work to financeaffordable housing projects in the U.S. and tounderwrite bonds that help advance a range ofsocial solutions.

INVESTING IN LOW-INCOME
HOUSEHOLDSAs 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 2022, Citi
provided more than 2.5 million households,
including nearly 1 million women, withaccess to essential goods and services inemerging markets.

Supporting
Affordable Housing
Supporting affordable housing is an importantelement of our $1 Trillion Sustainable Finance
Goal. We focus on financing affordable
housing in low- and moderate-income urban
and suburban areas in an effort to ease theaffordable housing crisis in the U.S. We offer a
range of housing finance solutions, including
construction lending, tax credit equity andpermanent financing through our balance sheet.
Citi Community Capital, the bank unit throughwhich we finance all types of affordable housing
and community development projects, reported
approximately $6 billion of lending to financeaffordable rental housing projects in 2022.

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ESG at Citi

Sustainable Finance
Our $1 Trillion Goal

Climate Risk & Net ZeroFinancing the Low-Carbon Transition

Sustainable Operations

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesFinancing Social Impact

2022 Affordable Housing Impact

2,288
Buildings Financed

250

$6B

Projects Closed

Volume Lent for
Affordable Housing

131 New Construction

Green Buildings

108
With Certifications

74 Rehab Construction

$1.1B

120

58 Agency
9 Balance Sheet Acquisition
and Permanent

Equity Invested in
Affordable Housing451

4 Adaptive Reuse

Clients Served

32States171
CitiesWith Green Features

22,411 Affordable(No other restriction)
Housing Types

36,866
Total Units Financed

35,846
Affordable<80% AMI*

9,703 Seniors
2,051 Rental Assistance
Demonstration (RAD)1,331 Formerly homeless

1,020
Moderate Income>80% AMI

158 Special needs
192 Veterans

37.4M
Square feet
* AMI = Area Median Income.

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero
Our Net Zero Commitment

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing

Climate Risk
and Net Zero
When we consider the risks and opportunities
related to climate change, we apply a double
materiality perspective, looking at both theimpact of climate change on our business andthe impact of our business on the climate. Our
business 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 andtargets for our environmental finance activities
and our operations for well over a decade. Our
reporting includes our strategic approach, our useof voluntary global standards and frameworks,
and the continued evolution of our Environmental
and Social Risk Management (ESRM) Policy inresponse to the changing risk landscape.

1

Our Net Zero
Commitment
Citi has committed to achieving net zero
greenhouse gas (GHG) emissions by 2050,
in alignment with the objectives of the Paris
Agreement and prevailing climate science.
Reducing financed emissions1 is widely recognized as the most significant contribution
the financial industry can have to achieving
a low-carbon economy. Our Net Zero Plan
includes interim financed emissions reduction
targets, which we aim to achieve by 2030. In
2021, we set 2030 emissions reduction targets
for two sectors and followed that with four
more in 2022, covering a total of six of our loan
portfolios to date.
For our own operations, we are targeting net
zero GHG emissions by 2030. Learn more in the
Sustainable Operations section.

Talent & DEI

Responsible Business

Appendices

QUICK LINKS
2030 Emissions Reduction Targets
Our Approach to Managing Climate Risk
Reducing Climate Risk in Our Financing

Our TCFD Report: Citi’s Approach to
Climate Change and Net Zero
We provide more detailed climate-related
disclosures in our 2022 Task Force on
Climate-related Financial Disclosures (TCFD)
Report: Citi’s Approach to Climate Change and
Net Zero. The report is informed by the TCFD
recommendations across the four pillars ofGovernance, Strategy, Risk Management, andMetrics and Targets. It describes how Citi
identifies and manages climate-related
financial risks and opportunities, and it
provides an update on progress toward ournet zero commitment, including additional
details about our interim 2030 emissions
reduction targets.
Our 2022 TCFD Report
is our fourth standalone TCFD report since
2018, when we were thefirst major U.S. bank topublish a TCFD report.

PARTICIPATION IN
FRAMEWORKS THAT SUPPORTNET ZERO
Citi is a member of multiple voluntaryindustry groups that enhance ourunderstanding of — and ability to act on— climate-related issues. These groups
include:• The Partnership for Carbon Accounting
Financials (PCAF)• The Net-Zero Banking Alliance (NZBA)• The Glasgow Financial Alliance for Net
Zero (GFANZ)
Robust disclosure is an important aspectof our net zero commitment. During
preparation of our 2022 TCFD Report, Citi
referred to the voluntary GFANZ Financial Institution Net-zero Transition Plans:
Fundamentals, Recommendations, andGuidance report. For more information,
see Appendix A of our 2022 TCFD Report.

Financed emissions are the GHG emissions generated by the operations and entities that financial institutions lend money to or invest in.

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero
Our Net Zero Commitment

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 and achieving our net zero
emissions reduction targets, which also help
reduce risk. There are common links between thetwo workstreams. For example, both rely oncommon data elements such as GHG emissions
and a better understanding of our clients’climate change mitigation and/or adaptationplans. 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.
Our commitment to net zero is significant,given the size and breadth of our portfolios
and businesses. To achieve it, we engage withnew and existing clients at varying stages oftransformation in their strategies and goals,
as they navigate the transition to a low-carbon
economy. We have developed a Net Zero Review
Template to aid us in this process.
Energy is one sector where transition considerations are particularly complex. The expected
shift away from fossil fuels globally, in pursuitof renewable and alternative energy, will have asignificant effect on clients in carbon-intensive
sectors — including coal mining, power generation and certain segments of the energy sector.
The financial services sector can play a significant role helping to enable low-carbon businessmodels. As a global bank with exposure to many
carbon-intensive segments of the economy, andas a top lender to the energy sector in particular,
Citi has an opportunity and a responsibility tosupport our clients in their transition. As such,

Citi 2022 ESG Report

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing

client engagement and transition are a key
component of our net zero commitment. Our
philosophy is to meet our clients where they
are and help them identify areas where they
can decarbonize.
We are seeing interesting developments among
the largest integrated oil and gas companies,
which are investing in technologies that leverage
their current technical expertise and capabilities, ranging from offshore wind development,
to biofuels, to hydrogen, to carbon removal
technology. Other clients, however, haveless ability today to branch out from oil andgas production, and instead are focusing on
decarbonizing their operations. Although we
acknowledge that operational Scope 1 and 2
GHG emissions are a fraction of the Scope 3
GHG emissions from the combustion of oil
and gas, we also believe that any efforts todecarbonize today — for example by increasing
operational efficiency or decreasing methane
emissions — amount to real GHG emissions
reductions and climate benefits, and provide
some clients with a foothold to make progress
and potentially identify further opportunities
for decarbonization.

2030 Interim Targets
Since the announcement of our net zerocommitment in 2021, we have established2030 interim targets for the following six loan
portfolios.

• 2030 targets established in 2022:
Energy, Power• 2030 targets established in early 2023:

Talent & DEI

The targets were developed with reference
to the UN Environment Programme FinanceInitiative’s Guidelines for Climate Target Settingfor Banks.

Responsible Business

AppendicesWith each sector that we bring into our Net Zero
Plan, we lean on what we have learned from theother sectors, including the methodologies andmetrics used and the client engagement tools wehave developed. As we make progress, we also
continue to expand our climate-related resources.

Our Net Zero Plan*
An overview of our Net Zero Plan, including our approach to governance, implementation
strategies and engagement, is outlined in the graphic below.

GOVERNANCE
Board of Directors
and relevant Board
Committees

ESG Council

Climate andSustainability
Council

IMPLEMENTATION STRATEGY ENGAGEMENT STRATEGY$1 Trillion Sustainable
Finance Goal
Internal policy development
and implementation
Internal training andcapacity building

Climate Risk
Steering GroupMETRICS AND TARGETS
2030 sectoral targets

Investor and stakeholder
engagement
Regulator and policymakerengagement
Client engagement and review

Business unit restructuring

Absolute emissions andemissions intensity metrics(including baselines)
Sectoral exposures
Operational targets andbaselines

FOUNDATIONSNet Zero emissions by 2030
commitment for operations

Net Zero emissions by 2050
commitment for financing

Net ZeroTransition Principles* Each of the elements of our Net Zero Plan portrayed in the graphic above is discussed in more detail in our 2022 TCFD Report.
See page 7 of that report for a graphic with links to more information.

Auto Manufacturing, Commercial Real Estate,
Steel, Thermal Coal Mining

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ESG at Citi

Sustainable Finance

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing

Climate Risk & Net Zero
Our Net Zero Commitment

Talent & DEI

Responsible Business

AppendicesAchieving Our Net Zero Targets
The graphic below provides an update on our expected timeline and indicates the stages we will move through as we work towardachievement of our interim 2030 targets. We intend to use a combination of approaches, focused on the key areas outlined below.

H1
2022

H2
2022

H1
2023

H2
2023

H1
2024

H2
2024

2025
Onward2030

Net Zero Metrics and Target Setting
Assess targets for Agriculture, Aluminum, Aviation, Cement and Shipping loan portfolios
Initiate facilitated emissions calculations for sectoral capital markets portfolios once
PCAF methodology is finalized; target setting will be considered subsequently

Client Engagement and Assessment
Complete initial two-year client engagement and assessment process for Energy and Power
Roll out Net Zero Review Template for the four new sectors, as 2030 targets are set

ROLLOUTONGOINGONGOING ASSESSMENT

Client engagement and assessment process for the four new sectors*

Risk Management
Assess climate risk exposure across our lending portfolios and review client decarbonizationand transition progress

EnergyPower

ONGOING

Review and, as needed, update risk appetite thresholds

Climate Advisory and Transition Finance

Auto Manufacturing
Commercial Real Estate

Review and update ESRM Policy sectoral approaches as needed
Roll out Climate Risk Assessment & Scorecard for additional sectors

See page 29 for our2030 emissions reduction targets
for the following sectors:

ROLLOUTONGOING

Steel
Thermal Coal Mining

Support existing and new clean technologies to accelerate commercialization
Transition advisory and finance, including debt and equity underwriting and lending

Portfolio Management
Active portfolio analysis and management to align with net zero targets,
including consideration of client transition plans

Public Policy and Regulatory Engagement
Support enabling public policy and regulation where relevant* New sectors include Auto Manufacturing, Commercial Real Estate, Steel and Thermal Coal Mining.

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero
Our Net Zero Commitment

Advancing Our Approach to
Achieving Sector Targets
We are continuing to focus on client engagement
as a critical step in the implementation of our
Net Zero Plan. One of our ongoing engagement
priorities is to identify clients with highemissions footprints and engage in climaterelated discussions, such as emissions reductionplans. To aid these efforts, we are piloting a Net
Zero Review Template. This assessment identifies
gaps and provides a roadmap for prioritizing
engagement where it is most needed.
The Template uses some of the same inputs
as our Climate Risk Assessment & Scorecard(CRAS), including absolute emissions andemissions intensity data, as well as disclosed
targets and the climate score output from ourCRAS. The Template also includes questions
about clients’ decarbonization plans, including
factors such as governance, scope (whatemissions categories are included), capital
expenditure plans and asset retirement
schedules (where available/applicable), among
others. The results of this analysis will help to
guide our strategy and prioritization for client
engagement. During 2022, we began piloting
this tool for our Energy and Power portfolios,
and we plan to have Net Zero Review Templates
for additional sectors as we set more interim
emissions reduction targets.

Developing Sector Targets
The PCAF methodology informs our calculationof absolute financed emissions. We calculate
absolute financed emissions metrics in two ways:• Committed funds: the capital available toa client for a certain use

Citi 2022 ESG Report

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing• Outstanding funds: the funds actuallydrawn down on such available credit(per PCAF Standard)
For the purposes of understanding our absolute
financed emissions, forward-looking emissions
management and establishing absolute andintensity targets for applicable sectors, we relyon the first of these approaches: total committed
exposure. This more accurately reflects the
maximum amount that Citi has agreed to financefor clients, although we provide both metrics fortransparency.
Obtaining more reliable and actionable climate
data continues to be a challenge, and we havebeen supportive of regulatory developments
to ensure more consistent, comparable andreliable climate disclosures. At the time of
the analysis disclosed in this report, the data
available for calculating financed emissions andemissions intensity and measuring progress wasnearly two years old. For example, the baseline
metrics for the 2030 targets we set for theAuto Manufacturing, Commercial Real Estate,
Steel and Thermal Coal Mining sectors weredeveloped using 2020 emissions data, which
was the most recent data available at the time
we began the analysis. This lag time means our
metrics are based on out-of-date data, and may
delay our ability to confirm progress against ourinterim targets in a timely fashion. We hope thatthe data will improve as consistency develops indisclosures of key environmental metrics, andthat as the lag is reduced we will be able to moreaccurately present progress against our 2030
targets closer to the target year.
Citi plans to review our emissions reductions
targets periodically, post 2025, as the energy

Talent & DEI

transition evolves. We will continue to be transparent about the impacts of the data lag whilemoving forward with our climate commitments.
As disclosed regarding our approach to net zero,after calculating our baseline, we assess anappropriate metric (absolute or intensity) andbenchmark against sector-relevant scenarios
to set targets. For more information on metricselection, please see our 2022 TCFD Report.

Update on Interim Targets for
Our Energy and Power Portfolios
Last year, we reported on our initial Net Zero
Plan for our Energy and Power portfolios,
including baseline financed emissions andinterim 2030 reduction targets for the two
sectors. The table below provides an update on
our progress during the first year following theestablishment of those targets. For an overview
of all our net zero targets set to date, see the

Responsible Business

Appendices2030 Emissions Reduction Targets table on thefollowing page.
There are a number of contributors to fluctuations in financed emissions from year to year,
including credit exposure, the company value(Enterprise Value Including Cash [EVIC] forpublic companies, Debt and Equity for privatecompanies), and the company emissions.
We saw these dynamics play out last year,
particularly in the Energy sector, where thedata mismatch between high, 2021 year-end
energy company valuation and decreased,
2020 production and emissions resulted inlower financed emissions figures for 2021. Inan effort to adjust for one of these superficial
drivers, we have tested a proposed PCAF
EVIC adjustment method (intended for asset
managers’ portfolios) to create a normalized
metric by calculating an adjustment factor
based on the portfolio EVIC fluctuation. The

PROGRESS TOWARD ENERGY AND POWER TARGETS
Additional detail about our progress related to these sectors is available in our 2022 TCFD Report.

SectorEnergy*(Scope 1, 2, 3)Power**

2020
2020
2021
2021
Financed Emissions Emissions Intensity Financed Emissions Emissions Intensity(Committed Exposure)(Physical)(Committed Exposure)(Physical)

143.8
million mt CO2e81.4
g CO2e/MJ

100.3
million mt CO2e***81.8
g CO2e/MJ

12.0
million mt CO2e
(Scope 1, 2)

313.5
kg CO2e/MWh(Scope 1)

11.0
million mt CO2e
(Scope 1, 2)

308.2
kg CO2e/MWh(Scope 1)* Includes project finance for 2021.
** Includes project finance for 2020 and 2021.
*** Adjusting for EVIC fluctuations, the normalized result is 113.8 million mt CO 2e.

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Sustainable Finance

Climate Risk & Net Zero
Our Net Zero Commitment

normalized energy financed emissions footprint
is 113.8 million mt CO2e. As there is no recognized method for normalizing this fluctuation,
this year we disclosed this adjusted metric toacknowledge that these calculations, heavily
based on estimation, will go through a large
degree of refinement over the coming years. We
will continue to monitor methodologies, including
any forthcoming PCAF guidance, to normalize
these fluctuations. As we continue to refine ourdata and metrics, we will maintain transparency
and continue to assess appropriate pathways tostay aligned with our net zero commitment.

Developing Targets for
Additional Sectors
Building on the work we have done for ourEnergy and Power portfolios, in 2022, we
expanded our efforts to establish interim 2030
reduction targets for our Auto Manufacturing,
Commercial Real Estate, Steel and Thermal Coal
Mining portfolios (see table to the right). Moreinformation about the analysis we conducted
to establish these targets, including scenario
selection and the scope and boundaries of thetargets, is available in our 2022 TCFD Report.
In 2023 and 2024, we will conduct further
analysis to facilitate target setting for theAluminum, Agriculture, Aviation, Cement andShipping sectors.

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing

Talent & DEI

Responsible Business

AppendicesSustainable STEEL Principles

2030 EMISSIONS REDUCTION TARGETS

Citi participated in a working group facilitated by the Rocky Mountain Institute(RMI) to design and develop the Sustainable
STEEL Principles (SSP) — the first climatealigned voluntary framework for lenders
measuring emissions in the steel industry— and the related methodology. Released in
2022, the SSP provide banks with a common
measurement and disclosure framework tofinance the steel industry on its path to net
zero carbon emissions.

The following table includes an overview of all the sectors for which we have established 2030
emissions reduction targets as of the end of 2022. We established targets for our Energy andPower portfolios in 2021 (progress update included on the previous page) and introduced targets
for the other four sectors in 2022.

The SSP methodology calculates emissions intensity at the asset level within afixed-system boundary. It separates the
production of steel into two categories, eachwith its own unique emissions reduction
pathway: ore-based (mined) and scrapbased (recycled).
We used the SSP methodology to aid withsetting the scope, boundaries and targets
for our Net Zero Plan for the Steel sector,
setting a single emissions intensity target forthe sector that accommodates the differentiated decarbonization pathways for primaryand secondary steel producers represented
by a Climate Alignment Score. For additional
details, see our 2022 TCFD Report.

SectorBaseline (Year) Target Metric Climate Scenario

2030 Target

Energy143.8
million mt CO2e

(Scope 1, 2, 3)

Absolute

Net Zero Emissions
by 2050(NZE 2050)**

29%
reduction from 2020
baseline
102.1 million mt CO2e

Intensity

Sustainable Development Scenario(SDS OECD)**

63%
reduction in Scope 1
intensity per MWhfrom 2020 baseline
115 kg CO2e/MWh

Intensity

Net Zero Emissions
by 2050(NZE 2050)**31%
reduction in intensity
per km from2021 baseline
106 g CO2e/km

Intensity

Carbon Risk Real
Estate Monitor
Pathways41%
reduction in intensity
per m2 from2021 baseline  
36 kg CO2e/m2  

Intensity

Net Zero Emissions
by 2050(NZE 2050)**

SSP Climate
Alignment Score = 0

Absolute

Sustainable Development Scenario(SDS OECD)**

90%
reduction from 2021
baseline
793 thousand mt CO2e(2020)

Power(Scope 1)313.5
kg CO2e/MWh(2020)

Auto
Manufacturing

154
g CO2e/km(Scope 1, 2, 3)(2021)

Commercial Real 61
kg CO2e/m2
Estate*(Scope 1, 2)(2021)Steel

SSP Climate
Alignment
Score TBD

(Scope 1, 2, 3)(2021)

Thermal Coal
Mining7.9
million mt CO2e

(Scope 1, 2, 3)(2021)* Within North America only, excluding Citi Community Capital portfolio.
**International Energy Agency Scenarios
Note: Updates to improve data quality of the baseline numbers may result in changes to these targets.

Citi 2022 ESG Report

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero
Our Net Zero Commitment

Our
Approach toManaging
Climate Risk
Our Risk Management function is responsiblefor identifying, measuring, managing, controlling
and reporting risks to the company. Citi
continues to view climate risk as a crosscutting
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.
This year, we finished development of a Climate
Risk Management Framework (CRMF), which
will promote a globally consistent approachto 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.
In 2022, our climate governance structure
continued to evolve as we advanced our Net
Zero Plan and made progress on our climate
goals. Highlights include the following:

Citi 2022 ESG Report

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing

Talent & DEI

Responsible Business

Appendices• Expanded our Board of Directors’ oversightby incorporating oversight for our climate
disclosure risk and controls environment
into the charter for the Board of Directors’
Audit Committee and climate risk oversight
into the charter for the Risk Management
Committee• Expanded our Climate Risk team andrealigned it to be part of the Enterprise Risk
Management Function• Expanded our Clean Energy Transitions team
to include Corporate Banking• Established a Head of Net Zero Operations
to provide leadership and expertise for our
net zero operations commitment

Climate Risk Training
Achieving our goals and managing risk
requires continual learning and developmentin the climate space. In 2022, we launched
two climate-related training pilots for our
Banking, Capital Markets and Advisory; Risk
Management; and Global Functions teams.
The training involved virtual and in-person
workshops focused on providing foundational knowledge of sustainability, climate
risks and assessment of client transition
plans. For more information about our
climate-related training, see our 2022 TCFD
Report.

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ESG at Citi

Sustainable Finance

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing

Climate Risk & Net Zero
Our Net Zero Commitment

Talent & DEI

Responsible Business

Appendices

Climate Change Governance
The following climate change governance diagram illustrates our governance structure as of April 2023. For more about our governance related to climate risk, see our 2022 TCFD Report.

Board of Directors
Audit Committee

Nomination, Governance and Public Affairs Committee

Risk Management Committee

EXECUTIVE MANAGEMENT TEAMCEOGlobal ESG
CouncilHead of Enterprise Services
and Public Affairs

GLOBAL FUNCTIONS
Legal

Finance

Internal Audit

Chief Risk Officer

CEO of Institutional Clients Group

MANAGEMENT AND SPECIALIZED FUNCTIONSEnterprise Services
and Public Affairs

Institutional Clients Group

Independent Risk
Management

Sustainability & ESG Team

Climate Risk Team

Location & Realty Services

Environmental and Social Risk
Management Team

Communications

Banking, Capital Markets and Advisory (BCMA)

Sustainability& Corporate
Transitions Team

Natural Resources& Clean Energy
Transition Team

Sustainable Debt
Capital Markets& Loans Team

Global Markets

Markets ESG
TeamSTEERING AND WORKING GROUPS
Climate Risk Steering Group

Citi 2022 ESG Report

Climate Risk Working Group

Climate and Sustainability Council

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero
Our Net Zero Commitment

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing

CLIMATE RISK IN OUR MARITIME SHIPPING PORTFOLIO
Citi is a founding signatory of the Poseidon Principles, which establish a framework for assessing anddisclosing the climate alignment of ship finance portfolios. As a part of our commitment, we havedisclosed our climate alignment score since 2019. These disclosures are published alongside those ofother signatories in an annual report published on the Poseidon Principles website.
Our most recent alignment score, based on 2021 data, illustrates slightly less alignment, up to+12.2% from +11.7% (a higher score represents greater misalignment with the Principles). Our score
was impacted by our clients’ operational priorities as well as the residual impacts of the COVID-19
pandemic, in particular the effect of port congestion and demand in the container sector, as well as thetentative resumption of the cruise industry in 2021. The cruise segment represented +6.3% of our totalalignment score of +12.2%. Our cargo alignment score was also impacted in 2021 due to the significant
tonnage demand increase in dry cargo, as well as the pre-existing issues in the container sector. Mostof the misalignment relates to three individual client situations in which COVID-19-driven operational
issues during 2021 are unlikely to have been repeated in 2022. We therefore expect improvement innext year’s report for our 2022 total alignment score.

Challenges andEmerging Issues
We continue to be aware of evolving challenges
and emerging issues, some of which include:
The availability and quality of climate-related
data: As discussed elsewhere in this section, ourreliance on data that is based on estimated orunverified figures makes precision difficult andcreates challenges for many of our climaterelated activities, including scenario analysis,
setting emissions reduction targets, tracking

Citi 2022 ESG Reportprogress and providing clear year-over-yearcomparisons of data. We are engaged withleading data vendors and industry groups in aneffort to rapidly improve overall data quality,
and there are several efforts underway within
Citi to improve the quality of the data we rely
on. In addition, we have processes and working
groups across the firm focused on data quality
and governance. We will continue to advanceour data improvement work in parallel with
our decarbonization efforts, with the intentionof incorporating additional insights as they
become available.

Talent & DEI

Transition obstacles faced by developing
countries: Less robust socioeconomic institutional capacity constrains implementationof low-carbon transition pathways acrossemerging markets. In addition, developing
countries often have more limited capacity
to transition, due to unequal and challenged
access to climate finance. They also frequently
lack the investment capital necessary to fundadaptation and mitigation solutions, including
renewable energy and technology-driven clean
energy alternatives.
Increased regulatory requirements and lack ofharmonization: For example, the Security andExchange Commission (SEC) has proposed arule — the Enhancement and Standardizationof Climate-Related Disclosures for Investors —that would require registrants (including Citi) to
include certain climate-related information in
SEC filings. We have provided comments on the
proposed rule, showing support for the overall
goal and identifying some areas of concern.
(Read our full comments.) In addition, Europe is
rapidly expanding requirements, including the
Corporate Sustainability Reporting Directive.
Between these two frameworks, there aredifferences in the topics to be disclosed, thelevel of detail required and the materiality
thresholds to apply. Such issues increase thecomplexity of our disclosure processes.

Responsible Business

Appendices

Reducing
ClimateRisk in Our
Financing.

Evolving Our
Approach
Integrating climate risk into our policies andsector standards provides the foundation
for consistently identifying and managing
climate-related risks across our company. Since
2015, our ESRM Policy has included approaches
to financing clients involved in coal mining or coal
power. In addition, our most recent 2022 updates
to address the climate-related impacts from beef
and soy production in sensitive ecoregions of
Latin America are discussed in the Environmental
and Social Risk Management section.

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Sustainable Finance

Our Net Zero Commitment

Portfolio Analysis
and Measurement
Citi aims to understand the transition andphysical risks that we and our clients are
exposed to by conducting climate scenario
analysis, measuring the GHG emissions
associated with our financing portfolio andevaluating portfolio decarbonization pathways.
In 2022, we measured progress against our 2030
emissions reduction targets for our Energy andPower loan portfolios and established new 2030
targets for four additional sectors.
To help Citi understand the climate risk profilesof our individual corporate clients, we havedeveloped the CRAS: an assessment andscorecard for climate risk. Using both quantitativeand qualitative metrics, this scorecard will help us

We continue to make progress reducing our financing
for thermal coal mining andcoal-fired power generation. For more information
about our related policy
commitments, see our2022 TCFD Report and ourEnvironmental and Social
Policy Framework.

Sustainable Operations

Building Equitable & Resilient Communities

Our Approach to Managing Climate Risk

Reducing Climate Risk in Our Financing

Climate Risk & Net Zero

Talent & DEI

Responsible Business

Appendicesengage with clients on the most material climate
risks they face and their management plans foradaptation and mitigation of those risks. Asof the end of 2022, the CRAS has been piloted
across multiple sectors, including Energy andPower. Results from the scorecard serve as
inputs into the Net Zero Review Template, andwe are working to embed the CRAS into ourrisk management processes to help informour decision-making moving forward. Moreinformation about our CRAS tool is available inour 2022 TCFD Report.
Citi uses climate risk scenario analysis,
including stress testing, to assess the potential
impact of climate-related risk drivers on our risk
profile across a range of plausible climate-related pathways. See our 2022 TCFD Report for a
discussion of our most recent climate scenario
analyses.

Thermal Coal Mining Credit Exposure$1.091B$765M*
30% reduction
from baseline

2020 (baseline)

2021

$586M
46% reduction
from baseline

2022*This figure has been updated as part of a facility-level data review exercise that identified afew facilities that were excluded from the originally reported exposure.

Citi 2022 ESG Report

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Operational Footprint Goals

Sustainable and Healthy Buildings

Sustainable
Operations
We set goals to reduce our operational footprint
and integrate sustainable practices acrossCiti. This builds on more than two decades ofmeasuring and reducing the impact of our global
operations and a history of prioritizing healthyfacilities for our customers and employees.

Operational
Footprint
Goals
We began reporting on our direct operational
impacts in 2002. With this report, we aredisclosing progress against our 2025 operational footprint goals through year-end 2022.
These goals are aligned with a pathway tolimit global temperature rise to 1.5˚C and covergreenhouse gas (GHG) emissions, energy use,water consumption, waste reduction anddiversion, and sustainable building design.
Working toward these goals also helps us makeprogress toward our net zero commitment for
Citi operations.
Our facilities were not used at full capacity
in 2022, as impacts related to the COVID-19

Citi 2022 ESG Report

Building Equitable & Resilient Communities
Efficient Travel

Talent & DEI

Managing Climate Risk in Our Operations

Responsible Business

Appendices

Environmental Performance for Operations

QUICK LINKS
2025 Operational Footprint Goals
Sustainable and Healthy Buildings
Efficient Travel

pandemic continued to varying degrees aroundthe world. In addition, as Citi employees returnto the office, the majority are transitioning toa hybrid work model, which includes working
remotely up to two days a week. As a result,facility-related resource consumption, waste
generation and GHG emissions were lower thanthey otherwise would have been. We recognizethat some of these impacts were shifted to
employees’ homes and other non-Citi facilities.
As a result of having fewer people using Citi
buildings, our progress for 2022 indicates that we
exceeded some of our goals during the year. That
trend could briefly reverse in the coming years,
as our employees continue to return to the officeand transition to our new work model, before
progressing again toward meeting our goals.

We focus on sourcing renewable electricity fromwithin the same market boundary as our facilities
and from our local utilities. When these two
options are not practical, we source renewableelectricity from nearby markets. Our aim is to
move toward additional local sourcing or on-site
generation as it becomes feasible.

Maintaining 100% renewable electricity is
one of our 2025 operational footprint goals,
and it is a key driver in helping us meet our net
zero commitment for our operations. With ourglobal footprint, it can be challenging to source
renewable electricity consistently, especially withthe current volatility in global energy markets.

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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Operational Footprint Goals

2025 OPERATIONAL FOOTPRINT GOALS

Progress through 2022

GHG emissions
45% reduction in location-based GHG emissions

48%

Energy40% reduction in energy consumption

36%

Maintain 100% renewable electricity sourcing

100%*

Water
30% reduction in total water consumption

37%

25% of water consumed to come fromreclaimed/reused sources

7%

Sustainable buildings
40% of floor area to be LEED-, WELL- orequivalent certified

Sustainable and Healthy Buildings

Efficient Travel

Talent & DEI

Managing Climate Risk in Our Operations

Responsible Business

Appendices

Environmental Performance for Operations

Net Zero Commitment(measured against a 2010 baseline)

Goals

Building Equitable & Resilient Communities

41%

Waste
50% reduction in total waste

50%

50% of waste diverted from landfill

32%

Our commitment to achieve net zero GHG emissions by 2050 includes both our financing andour own operations. For our operations, we aretargeting net zero emissions by 2030.
Our emissions reduction efforts and renewableelectricity use put us well on the path to net
zero for our operations. Challenges remain in
addressing the direct emissions from the diesel
generators we use for backup power and thenatural gas we use for the heat and power systemat our global headquarters and, to a lesser extent,
for heating and cooking across our global operations. Addressing these emissions will require
a combination of electrification, low-carbon
alternative fuels and carbon removals for hardto-abate emissions.
In 2022, we expanded our GHG screening inventory to include Scope 3 emissions associatedwith our supply chain and our employee activities(i.e., business travel, commuting and working
from home) from 2019 through 2021. This GHG
screening inventory is available in our 2022 Task
Force on Climate-related Financial Disclosures(TCFD) report. Limitations in data availability
and quality continue to require the use ofspend-based and industry average emissions
factors and limit our ability to make decisions
about low- or no-carbon alternatives. To that
end, we have updated our Statement of SupplierPrinciples, and we encourage our suppliers to
track and report emissions. We hope this will
help us identify opportunities for engagementwith suppliers.
Additionally, our zero-carbon-ready building
principles and our ongoing work to achieve our2025 operational footprint goals, which include
targets for reducing GHG emissions and energy
consumption for our operations, help support
our net zero commitment.
In 2022, Citi purchased voluntary third-party
verified carbon credits consisting of a portfolioof nature-based, energy efficiency and methane
destruction credits in an amount equivalent
to our Scope 1 direct GHG emissions. We willcontinue prioritizing emissions reductions fromour operations and plan to rebalance the carbon
credit portfolio mix to use only removal credits
as we near our 2030 operational target.

* 96% within market boundary; 4% sourced from regionally aligned markets.

Citi 2022 ESG Report

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Operational Footprint Goals

Sustainable
and Healthy
Buildings

Building Equitable & Resilient Communities

Sustainable and Healthy Buildings

Efficient Travel

Talent & DEI

Managing Climate Risk in Our Operations

programs. In recognition of how important it is
to design buildings for employee well-being, wehave included WELL certification as an aspect ofour sustainable building goal for 2025.

Responsible Business

Appendices

Environmental Performance for Operations

on the five campus buildings in conjunction withroof replacement. We will continue to purchaseelectricity from local, renewable sources for thissite’s remaining energy needs. In addition, a 2022
renovation of the facility included several featuresthat promote wellness and sustainability and willcontribute to LEED certification.

Sustainability/wellness features:• Use of local renewable power

Whether undertaking new construction or
renovating existing buildings, we prioritize
health, efficiency and sustainability, toenhance wellness and minimize the environmental impact of our facilities worldwide. We
accomplish this through a variety of programs
and initiatives, including:• Planned on-site solar installation

Tampa, Florida• A goal to have 40% of our facilities (by floorarea) LEED-, WELL- or equivalent certified
by 2025• Alignment with the health and safety
standards needed for WELL certification• An ambition for all new buildings to be
zero-carbon-ready by 2030

• Installation of on-site renewable energy
generation• Additional initiatives and improvements toconserve energy, reduce water consumption
and minimize waste
In 2022, in alignment with our commitment tohealthy buildings, we undertook an analysis of
all Citi locations to evaluate the policies andprocedures we already have in place, with an
aim to strategically expand wellness initiatives through building design and operations.
We also seek building certifications from theInternational WELL Building Institute™ andparticipate in WELL rating and benchmarking

Citi 2022 ESG Report

Johnson City, Tennessee

Our use of renewable electricity at our Tampa
facility illustrates our strategic approach to prioritize on-site generation where possible, followed
by local sourcing as needed. In 2022, we beganpurchasing locally generated solar power for the
majority of the building’s electricity needs. In
2023, we will begin installing rooftop solar panels

We have renovated and relocated ouroperations, that were formerly in Gray,
Tennessee, to our new facility in Johnson
City. This renovation aligns with our
zero-carbon-ready principles, which
address operational and embodied carbon
emissions, inclusive of energy use, energy
supply, integration with utilities andmaterial use. This building will also be
LEED-certified.

Sustainability/wellness features:• A tight building seal to improve energy
efficiency and thermal comfort• Improved energy efficiency through theuse of heat pump water heaters, a variablerefrigerant flow system and a dedicatedoutdoor air system• Use of Green-e Renewable Energy Certificates to offset 100% of electricity use• Low-flow plumbing fixtures expected to reducewater consumption by 36% (250,000 gallons
annually)• Improved indoor air quality due to increased
ventilation and the use of low-emitting andlow-toxicity building materials• A health center and fitness center• Design that increases natural daylight andviews of natureenergy rooftop system, providing both solar
electricity and solar water heating for the site
• Improved indoor air quality through increased
ventilation, an air disinfection system andongoing monitoring

Hong Kong• Centralized waste management for recycling,
as well as upcycling of food waste and coffee
grounds

Our One Bay East facility features on-site
renewable electricity and was awarded WELL
Platinum and LEED Platinum certifications.

• Green cleaning, using products and methods
designed to preserve human health andenvironmental quality

Sustainability/wellness features:• An on-site fitness center for employees, andcafeteria options that encourage healthy foodand beverage choices• On-site renewable electricity generation
through a hybrid electrical and thermal

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Operational Footprint Goals

Global Wellness
In 2022, we renewed our WELL HealthSafety rating for all Citi facilities globally,
indicating that our buildings are safe andhealthy environments. We also continued
our participation in the WELL at Scale
Program (previously the WELL Portfolio
Program), a benchmarking program formeasuring and improving organizational
health performance across facilities. In
addition, we formalized our commitment
to diversity, inclusion and universal design
by enrolling in the WELL Equity Rating andexpanding our team’s capacity in this area.

Wellness features:• Health-Safety seal: Communicates to
occupants and visitors that evidencebased measures and best practices forhealth and safety have been adopted andthird-party verified by WELL
• WELL at Scale: Annual portfolio assessment based on work to support andenhance the health and well-being of
employees and customers

EfficientTravelFor many years, we have encouraged employees
to use video and web conferencing technologies
rather than traveling, whenever possible. With
the onset of the COVID-19 pandemic, we quickly
transitioned the entire company to adopt use

Citi 2022 ESG Report

Building Equitable & Resilient Communities

Sustainable and Healthy Buildingsof these platforms for their daily interactions.
As many of our employees return to the officeat least a few days a week, we are relying on theefficiency efforts we had in place before thepandemic. For instance, we provide U.S.-based
employees pretax dollars to cover the cost ofcommuting by subway, bus, train, ferry andvanpool. We also offer bike storage and bikeracks at several facilities and sponsor bike share
programs, known as the Citi Bike Program, in
New York City, Jersey City and Miami. At ourcar park in the Citigroup Centre in London, weoffer a dozen charging stations for those driving
electric vehicles. In addition, the introductionof remote and hybrid work models for our
employees should significantly cut down onemissions related to employee commuting.
Due to our global scale, we often need to meetwith clients, partners, teams and other stakeholders across the world. To build awarenessof how business travel impacts our carbon
footprint, our colleagues are able to see theemissions data related to their air travel when
they book travel reservations.

EMPLOYEE ENGAGEMENT
In 2022, Citi launched the Green Champions
Network, with 41 teams around the world,
focused on engaging in sustainabilityrelated activities in their communities. The
Green Champions hosted an Earth Day
Challenge in 2022, featuring tasks to enable
more sustainable living at work and at home.
Additional Champions groups within ourbusinesses focus on monitoring opportunities and sharing sustainability news with
their departments.

Efficient Travel

Talent & DEI

Responsible Business

Managing Climate Risk in Our Operations

Managing
ClimateRisk in Our
Operations
Because Citi operates in nearly 100 countries,
our facilities could potentially be exposed toa range of climate-related risks. To increase
our resiliency, we have invested in climate
adaptation solutions in a number of criticalfacilities. In addition, our crisis management
team has developed action plans to address
immediate risks and support our employees
and customers before, during and after adverse
events. Our business continuity team also hasplans in place to help Citi resume business
operations as quickly as possible in theaftermath of an extreme climate event.
Our Location and Realty Services (LRS), Crisis
Management and Business Continuity teams
help us to monitor, prepare for and respond to
extreme weather events or other disruptions toour operations. In addition, LRS conducts due
diligence for each proposed new location andreassesses the properties’ structural resilience
periodically, based on risk and following significant events. These assessments take internal
Citi standards, as well as local and international
codes, into account.

Appendices

Environmental Performance for Operations

might be required, we engaged a global insurerand climate modeling firm to use catastrophe
models to develop a baseline understanding of
our current risks and then apply future climate
scenarios to evaluate the potential changes inphysical damage risk. This kind of modeling andanalysis helps us better understand and monitor
the risks our facilities could be exposed to due
to climate-related weather events.

Transparent Reporting ofOperational Climate Impacts• Scope 1 and Scope 2 GHG emissions:
Included in this ESG report and in our
CDP (formerly the Carbon Disclosure
Project) response. We follow the GHG
Protocol Corporate Standard and Scope
2 Guidance for measuring and reporting
both market-based and location-based
Scope 1 and Scope 2 GHG emissions.
• Scope 3 CO2 emissions: Air and train
business travel included in this ESG
report; our 2021 Scope 3 GHG screening
inventory, associated with employee
activity and our supply chain, is reported
in our 2022 TCFD Report• Assurance: GHG emissions and environmental data for operations and businesstravel are verified and assured by SGS, aleading third-party inspection, verification, testing and certification company.
(SGS Assurance Statement)

To gain insight into how our physical climate
risk might change and what related adaptations

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ESG at Citi

Sustainable Finance

Climate Risk & Net Zero

Building Equitable & Resilient Communities

Sustainable Operations

Operational Footprint Goals

Sustainable and Healthy Buildings

Efficient Travel

Talent & DEI

Managing Climate Risk in Our Operations

Responsible Business

Appendices

Environmental Performance for Operations

Environmental Performance for Operations
REGIONAL OPERATIONAL ENVIRONMENTAL PERFORMANCE
RegionGHG Emissions CO2e GHG Emissions CO2e Carbon Credits CO2e Net CO2e
Location-Based (mt) Market-Based (mt)(mt)
Market-Based (mt)

Total Energy
Consumption(GWh)

Total Water
Consumption(m3)

Total Waste(mt)

Asia Pacific122,652

26,403631

25,772

213

641,543

3,411

Europe, Middle East and Africa

44,768

10,682

3,614

7,069

175

314,000

2,510

Latin America and Mexico

84,593

3,500

1,763

1,737

212

837,5448,357

North America

258,540

38,92137,905

1,016

763

1,866,117

13,504

GHG EMISSIONS (SCOPE 1 & 2) BY REGION IN 2022
RegionScope 1 CO2e(mt)

Scope 2 CO2e
Scope 2 CO2e
Location-Based (mt) Market-Based (mt)

Total CO2e
Total CO2e
Location-Based (mt) Market-Based (mt)

Carbon Credits CO2e Net CO2e(mt)
Market-Based (mt)Asia Pacific631

122,021

25,772

122,652

26,403631

25,772Europe, Middle East and Africa

3,614

41,154

7,069

44,768

10,682

3,614

7,069

Latin America and Mexico

1,763

82,8301,737

84,593

3,500

1,763

1,737

North America

37,905

220,635

1,016

258,540

38,92137,905

1,016

Note: Figures may not sum to totals due to rounding.

Citi 2022 ESG Report

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Sustainable Finance

Climate Risk & Net Zero

Building Equitable & Resilient Communities

Sustainable Operations

Operational Footprint Goals

Sustainable and Healthy Buildings

Efficient Travel

Talent & DEI

Responsible Business

Managing Climate Risk in Our Operations

Appendices

Environmental Performance for Operations

Environmental Performance for Operations
LEED-CERTIFIED BUILDINGS BY REGION

LEED-CERTIFIED BUILDINGS BY BUILDING TYPE**

RegionCertified* Silver

Gold

Platinum

Total

Building Type

2018

2019

2020

2021

2022***

Asia Pacific

6

30

54

12

102

Branches

–

16

15

12

10

Europe, Middle East and Africa

4

8

30

10

52

Office Buildings

12

18

16

15

11

Latin America and Mexico

32

7

4

1

44

Operational Centers

2

1

3

2

1

North America

29

32

63

3

127

Total

14

35

34

29

22

Total

71

77

151

26

325

Cumulative Total

205

240

274

303

325

†

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 Certificate (EACs)

844,832,363

00844,832,363

73%

PPA or Source Contract

230,283,675

00230,283,675

20%

Self-Generated Renewables

191,92800191,928

0%

Residual Mix

00773,538

773,538

0%Regionally Aligned EACs – Grid Average

49,377,336

0

20,200,459

69,577,795

6%Steam Default

08,625,219

0

8,625,219

1%

Total

1,124,685,301

8,625,219

20,973,997

1,154,284,517

100%

Note: Figures may not sum to totals due to rounding.
* Certified total includes EDGE projects in Latin America and Mexico.
** This is based on the active buildings in the portfolio as of year end 2022, and excludes projects for inactive and disposed buildings.
*** 2022 total includes EDGE projects in Latin America and Mexico.
†
Includes buildings certified prior to 2018.

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Sustainable Finance

Climate Risk & Net Zero

Building Equitable & Resilient Communities

Sustainable Operations

Operational Footprint Goals

Sustainable and Healthy Buildings

Efficient Travel

Talent & DEI

Managing Climate Risk in Our Operations

Responsible Business

Appendices

Environmental Performance for Operations

Environmental Performance for Operations
ABSOLUTE INDICATORS
Energy

2010

2018

2019

2020

2021

2022

Natural Gas (GWh)

116

87

71

68

138

182

LP Gas (GWh)

0

0

2

1

1

2

Fuel Oil (GWh)

50

36

0

0

0

0

Diesel (GWh)

0

0

32

31

37

25

Scope 1 Energy (GWh)

166

123

104

100

176

209

Electricity (GWh)

1,885

1,359

1,299

1,165

1,101

1,125

District Heating (Steam and Chilled Water) (GWh)

74

57

45

28

26

30

Scope 2 Energy (GWh)

1,960

1,416

1,345

1,194

1,128

1,154

Total Energy (GWh)

2,126

1,539

1,449

1,294

1,304

1,363

Location-Based CO2e Emissions

2010

2018

2019

2020

2021

2022

Direct CO2e (GHG Scope 1)(Gas and Fuel Oil) (mt)37,49727,80523,16022,26738,08543,912

Indirect CO2e (GHG Scope 2)(Electricity, Steam and Chilled Water) (mt)952,671

630,253575,305

485,709455,349

466,641

Total CO 2e (mt)990,168

658,058

598,465

507,976

493,434

510,553

Water Consumption

2010

2018

2019

2020

2021

2022

5,764,534

4,207,622

4,208,515

3,421,368

3,259,722

3,401,011

Non-Potable Water (m )12,682

250,539

293,113321,104

268,484

258,192

Total Water Consumption (m3)5,777,216

4,458,162

4,501,629

3,742,472

3,528,206

3,659,203

Potable Water (m3)3Note: Figures may not sum to totals due to rounding.
Note: 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.

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Sustainable Finance

Climate Risk & Net Zero

Building Equitable & Resilient Communities

Sustainable Operations

Operational Footprint Goals

Sustainable and Healthy Buildings

Efficient Travel

Talent & DEI

Managing Climate Risk in Our Operations

Responsible Business

Appendices

Environmental Performance for Operations

Environmental Performance for Operations
Waste

2010

2018

2019

2020

2021

2022

Waste Diverted from Landfill (mt)

16,684

10,803

10,709

5,913

5,749

8,801

Refuse and Other (mt)39,11525,63824,791

20,06018,86018,981

Total Waste (mt)

55,79936,44135,50025,97324,60927,781

2010

2018

2019

2020

2021

2022

Operating Sq. Ft.

61,024,712

44,698,088

44,195,633

41,884,578

40,000,314

39,751,725

Headcount*

251,102

194,920

184,533

188,884

195,342

213,052

Total Energy Consumed

2010

2018

2019

2020

2021

2022

kWh / Operational Sq. Ft.

35

34

33

31

33

34

kWh/ Headcount

8,467

7,898

7,850

6,848

6,674

6,398

Location-Based CO2e

2010

2018

2019

2020

2021

2022

Metric Tons / Operational Sq. Ft.

0.02

0.01

0.01

0.01

0.01

0.01

Metric Tons / Headcount

3.94

3.38

3.24

2.69

2.53

2.40

Business Travel

2010

2018

2019

2020

2021

2022

Business Air Travel CO2e (mt)100,243

149,588

126,055

21,785

10,554

63,681Business Train Travel CO2e (mt)

NA

227

174

44

32

106

RELATIVE INDICATORSSCOPE 3 EMISSIONS

Note: Figures may not sum to totals due to rounding.
Note: 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.

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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Action for Racial Equity

Building Equitable andResilient Communities
At Citi, we believe we have a role to play inaddressing the inequities facing our global
society to help build thriving, resilient, equitable
and inclusive communities for generations
to come. We invest in reaching underserved
markets; improving financial security, access tobasic human necessities and affordable housing;and enabling economic mobility and progressin communities we serve around the world. We
continue to focus on our work to help advanceeconomic opportunity and address social
challenges — using the breadth of the firm’s
business capabilities, expertise and volunteers,
as well as the Citi Foundation’s philanthropy.
Throughout 2022, Citi and the Citi Foundation
invested in communities around the world,
through the following key programs and activities:1• Furthered our social finance efforts as partof our $1 Trillion Sustainable Finance Goalby 2030.

Citi Impact Fund

Responsible Business

Strategic Philanthropy: The Citi Foundation

Appendices

Global Community Day

QUICK LINKS
Action for Racial Equity
Citi Impact Fund
Citi Foundation• Continued to invest in a broad suite ofinitiatives designed to help close the racial
wealth gap in the U.S. through Citi and theCiti Foundation’s Action for Racial Equity
commitment.

• Expanded the Citi Impact Fund to $500
million. The fund contributes to our $1 Trillion
Sustainable Finance Goal by making equity
investments in companies that address
societal challenges.

• Sustained our commitment to affordable
housing in the U.S.

• Expanded efforts to strengthen the nongovernmental organization (NGO) sector throughthe Citi Foundation’s strategic philanthropy.

Investing in Our Communities
2022 Highlights$3B $500M ~$6B

mobilized in social
finance activity in emerging
markets in 2022

expanded size of theCiti Impact Fund

$94M
in grants provided by
the Citi Foundation

financed for affordable
housing projects
in the U.S.

56K+

volunteer engagements during
the firm’s annual Global
Community Day• Fulfilled the Citi Foundation’s Pathways to
Progress commitment to connect young
people to training and workplace experiences.

• Responded swiftly to major natural disasters
and humanitarian crises around the world.
In the past year, we have taken steps toenhance and expand how we work internallyto strengthen external impact. For example,

1

Talent & DEI

Building Equitable & Resilient Communities

to enhance the scale of our impact throughsocial finance, we have established a networkof bankers focused on transactions in emerging
markets, and increased internal training andimpact measurement. We have also extended
our work with development finance institutions,
impact investors and private-sector clients. As

for our volunteer efforts and direct engagement
opportunities, we are embracing a return toin-person events as the world recovers fromCOVID-19. In addition, the Citi Foundation ischarting a new path with an evolved global giving
strategy that prioritizes innovation and equity.

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

Citi 2022 ESG Report

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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities
Action for Racial Equity

Action for
Racial Equity
In 2022, Citi and the Citi Foundation continued toadvance Action for Racial Equity, a commitmentthat galvanizes activity across the firm and withexternal organizations to help close the racial
wealth gap and increase economic mobility in the
U.S. This included investing in strategic initiatives
to provide greater access to banking and credit
in communities of color, increasing investment inBlack-owned businesses, expanding affordable
housing and homeownership among Black
Americans, and advancing anti-racist practices
in our own company and in the financial
services industry.
We initially launched Action for Racial Equity in
September 2020, and have already exceeded ouraggregate financial commitment of $1.1 billion
deployed through strategic initiatives. However,
we know there is still work to be done, andwe must work collectively to take further action
within our firm and for the clients and communities we serve.

Citi 2022 ESG Report

Citi Impact Fund

Talent & DEI

Responsible Business

Strategic Philanthropy: The Citi Foundation

Appendices

Global Community Day

Racial Equity Audit
Consistent with our commitment to transparency,
we conducted a third-party racial equity audit toassess the design and implementation of Action
for Racial Equity as a response to the racial wealthgap in the U.S.
Covington & Burling LLP, a firm with civil rights
expertise and experience in leading racial equity
audits across various industries, conducted theaudit in 2022. Covington’s assessment foundthat Action for Racial Equity’s design successfully leveraged our firm’s expertise, network ofbusiness partners and resources to addresssome of the key factors contributing to the racial
wealth gap. The completion of the audit also
provided insights that will inform our efforts andreminds us how much work we have to do as asociety to make meaningful progress in closing
the racial wealth gap.
See the announcement and full audit for moredetails about the methodology and results.

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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Talent & DEI

Building Equitable & Resilient Communities
Action for Racial Equity

Citi Impact Fund

Responsible Business

Strategic Philanthropy: The Citi Foundation

Appendices

Global Community Day

Action for Racial Equity: An Update on Our Progress in the U.S.
Highlights Since Our Year Two Update
As a founding member of the Biden-Harrisadministration’s Economic Opportunity
Coalition (EOC), Citi is leading awork stream to establish a Centerof Excellence, a shared platform thatwill provide Community Development
Financial Institutions (CDFIs) and
Minority Depository Institutions (MDIs)
with access to skills-based volunteers,technology and data from EOC members.

Citi made an equity investment in the
Bank of Cherokee County, in Oklahoma,
adding the first Native American MDI to
our portfolio and the 12th MDI overall.
Total since the start of
Action for Racial Equity:$46M
As part of the Affordable Access Banking
Initiative, launched collaborations with
Juma Ventures, Mission Asset Fund andUnidosUS to serve diverse households
by expanding access to the Citi AccessAccount Package, which includes low-costsavings and checking products.

To support revenue growth for MDIs, weinvolved them in more than $12 million
in affordable housing loan participation
opportunities between March 2022 andMarch 2023.
Total loan participation volume for MDIs
since the start of Action for Racial Equity:$48.3M
By the end of 2022, there were four Children
Savings Account programs operating on
the Citi Start Saving system around the
U.S., serving school systems that reachapproximately

667,000
STUDENTS.
Spent more than $1.3 billion with diverse
suppliers in 2022, including$599M
with Black-owned businesses alone.

In line with the firm’s continued
commitment to expand access to banking
products and services that can help
advance economic progress, especially forunderbanked and unbanked communities,
Citi eliminated overdraft fees, returned
item fees and overdraft protection fees
beginning in June 2022.

Citi created a Special Purpose Credit
Program in 2022, which enhanced ourexisting proprietary HomeRun and Lender
Paid Assistance programs, growing lending
penetration through those programs byapproximately 9%.

10,000In 2021, Citi invested $200 million in five
Black-owned affordable housing developers, co-managed by L&M Development
Partners. As of February 2023, morethan a third of the capital was deployed,
amounting to over 3,300 units infive states.

small and medium-sized businesses(SMBs) in Walmart’s U.S.-based supplier
network. Bridge is a digital platform thatconnects SMBs with more than 75 lenders,
including 20+ diverse financial institutions, that provide qualifying businesses
with loans of up to $10 million.

The mortgage team at Citi hired
21 Community Lending Officers focusedon serving diverse and traditionally
underserved communities across
16 markets in 2022.

Walmart and Citi are collaborating to
introduce Bridge built by Citi to the44%of Citi Impact Fund portfolio companies
are founded or co-founded by a Black
entrepreneur.

As of December 2022, the Citi Foundation
exceeded its three-year target to invest$100M
in community change agents advancing
racial equity.

For more about our efforts through September 2022, see our Year Two Progress Report.

Citi 2022 ESG Report

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Climate Risk & Net Zero

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Action for Racial Equity

Citi Impact
Fund
The Citi Impact Fund makes direct equity
investments in double-bottom line companies
that are applying innovative solutions toaddress some of society’s most pressing
challenges. The Impact Fund identifies, invests
in and supports the growth of innovative
startups and diverse founders that help solve
critical issues for underserved communities,
creating lasting change and increasing access,affordability and inclusion. The fund iscommitted to reaching underserved beneficiaries in the areas of Financial Inclusion,
Future of Work, Climate Resilience and Social
Infrastructure, including more equitable
access to healthcare, mobility and housing.
Women and people of color continue toreceive only a small fraction of venture capital
investment. Recognizing these gaps, the Citi
Impact Fund intentionally allocates capital tocompanies led by these historically undercapitalized founders.
The fund leverages the full scale of capabilities
and expertise across Citi to provide differentiated value-add to its portfolio companies.

Talent & DEI

Building Equitable & Resilient Communities
Citi Impact Fund

Responsible Business

Strategic Philanthropy: The Citi Foundation

Appendices

Global Community Day

Citi Impact Fund: Progress to Date
In 2022, we expanded the size of the Citi Impact Fund from $200 million to $500 million.

Since the Fund’s launch in 2020 through March 31, 2023:~$123M*
invested in double-bottom line
companies and funds

39

companies and funds
received investment

72%

36%

44%

of our portfolio companies arefounded or co-founded by peopleof color and/or womenof our portfolio companies arefounded or co-founded bya woman entrepreneurof our portfolio companies arefounded or co-founded bya Black entrepreneur

Examples of 2022 Citi Impact Fund investments:

RapidSOS
Social Infrastructure

Bitwise Industries
Future of Work

Rheaply
Climate Resilience

MoCaFi
Financial Inclusion

A New York-based company thatprovides faster, more effective
emergency response through thecreation of a universal, data-driven
safety platform covering morethan 95% of the U.S. population.
RapidSOS provides more efficientand inclusive emergency response
for more than 165 million emergencies annually.

A Fresno, California-based company,
led by Latinx, women and LGBTQIA+
founders, delivering digital solutions,creating access for those frommarginalized communities toin-demand tech skills, and ultimately
catalyzing economic transformationin overlooked places.

A Chicago-based software company
founded by a Black entrepreneur helping large organizations
operationalize within the Circular
Economy without having to design a
program from scratch. The company
focuses on reuse by providing
visibility into idle goods an organization already has, preventing
over-procurement and waste.

A New York-based fintech founded
by a Black entrepreneur that provides
public benefits access, low-cost
mobile banking, credit-building andwealth-building tools to underserved
communities. The company’s innovative banking platform connects
government and philanthropic
resources to communities facing
limited economic mobility and financial equity across the country.

* Reflects capital funded through March 31, 2023.

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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities
Action for Racial Equity

Citi Impact Fund

Talent & DEI

Responsible Business

Strategic Philanthropy: The Citi Foundation

Appendices

Global Community Day

Strategic
Philanthropy:
The Citi Foundation
Through strategic grantmaking efforts, the Citi Foundation promotes
economic progress in underserved communities around the world, focusing on
programs that increase financial inclusion, catalyze job opportunities for youth
and reimagine approaches to building economically vibrant communities. The
Foundation takes a holistic, end-to-end approach to ensure the success of
our grantees — from ideation to execution to evaluation and assessment, andpost-investment support.
In 2023, the Foundation introduced the Global Innovation Challenge, arefreshed operating model that continues to deliver on its mission while
increasing social impact. With this updated approach, the Foundation is
evolving its operating model to become:• More innovative: Moving from traditional, long-term, direct-service grant
relationships toward shorter-term funding of innovative ideas with theability to catalyze change.

• More equitable: Moving from invitation-based proposals to a challenge
model, where eligible organizations across the world have an opportunity
to apply for funding through an open request for proposals (RFP).
The Foundation’s first Global Innovation Challenge is focused on foodsecurity and strengthening the financial health of low-income families andcommunities.

GLOBAL INNOVATION CHALLENGE: FOOD SECURITY
The Citi Foundation announced its first-ever Global Innovation
Challenge to support community organizations around theworld that are developing innovative solutions to improve foodsecurity. This inaugural challenge will provide a total of$25 million to 50 organizations working to pilot or expand ideas
and projects designed to improve food security and strengthen
the financial health of low-income families and communities.
The Foundation is prioritizing projects in four areas:• Access• Availability• Affordability• Resilience
Eligible organizations will be awarded grants based on the meritsof their ideas, and the open proposal process will enable newcommunity organizations to become part of the Foundation’s grant
portfolio. The Foundation will also offer post-award support to help
ensure the success of these programs.

Citi 2022 ESG Report

Engagements lasting

2

years

$500K
will be awarded toeach recipient

50

selected organizations

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Sustainable Operations

Building Equitable & Resilient Communities
Action for Racial Equity

Citi Impact Fund

Talent & DEI

Responsible Business

Strategic Philanthropy: The Citi Foundation

Appendices

Global Community Day

PATHWAYS TO PROGRESSCOMMUNITY FINANCE INNOVATION FUNDCRISIS RESPONSE

Pathways to Progress has been one of the Citi Foundation’s
flagship initiatives since 2014. It aims to equip young people— particularly those from underserved communities — withthe skills and networks they need to succeed in today’s rapidlychanging economy. The end of 2022 marked the fulfillment of theFoundation’s most recent $100 million three-year commitment
through this initiative to provide economic opportunities foryoung people.

As the economic challenges of American households increase,
Community Development Financial Institutions (CDFIs) and
Minority Depository Institutions (MDIs) play a critical roledelivering credit and other asset-building financial services tounbanked and underbanked households and entrepreneurs in
low-income communities and communities of color. Building on
our long history of promoting financial inclusion, the Foundation
launched the Community Finance Innovation Fund in 2022. This
fund provides grants to help bolster the work of these specialized organizations working to level the economic playing field for
low-income communities and households.

Citi and the Citi Foundation have a strong tradition of supporting
communities affected by disasters and humanitarian crises. In 2022,
we prioritized responding to the humanitarian crisis in Ukraine andsurrounding countries. Our support for Ukraine relief efforts included$500,000 donated by Citi employees, which Citi matched dollar
for dollar, and more than $320,000 raised by Citi clients in the U.S.
through our ThankYou Rewards Program.

Highlights: 2020–2022$120M+
to connect young people
to training and workplace
experiences

Supported nongovernmentalorganizations (NGOs) in

85+

countries and territories

30,000+ 650,000+
youth enterprises createdor expanded

young people mentored

Highlights:

$50M

12

committed overthree years

community organizations
that are working to support
CDFIs and MDIs in creating
positive impact for low-income
communities and communities
of color

Highlights: 2022

$2.5M+

1,000+

to global and local NGOs
working to support Ukrainian
refugee relief, including

employees volunteered 4,000
hours to support those displacedby the crisis in Ukraine

$1.5M

$1.2M

granted for immediate relief
and medium-term support
from the Citi Foundationcommitted by the Citi Foundationfor emergency aid to communities
affected by Hurricanes Fionaand Ian

200,000+
internships and apprenticeships

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Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities
Action for Racial Equity

GlobalCommunity
Day
Every year, Citi colleagues, alumni, partners, clients,
family and friends come together to participate in Global
Community Day, our annual flagship volunteer initiative
to give back to the communities where we live andwork. Our 2022 Global Community Day brought us back
together in person in many places, reigniting our sense ofcommunity and driving home just how much impact we
can have when we volunteer both in person and virtually.
We centered our efforts on the global theme of Recovery
and Renewal, aiming to help our communities overcome
the economic and social challenges posed by the
COVID-19 pandemic and achieve new levels of progress
and prosperity.

Citi Impact Fund

Talent & DEI

Responsible Business

Strategic Philanthropy: The Citi Foundation

Appendices

Global Community Day

REGIONAL HIGHLIGHTS

North America

15,000+backpacks of daily essentials
donated to the homelessacross the U.S.

Europe, Middle East and Africa~1,000care packages prepared and provided
by Citi colleagues in Nairobi to womenand children in Kenya

Asia Pacific~200

Latin America

care packages delivered tovulnerable communities
affected by the COVID-19
pandemic in Korea

5,600+

pounds of waste collected fromthe coast of Playa Gringo in the
Dominican Republic

56,000+volunteer engagements

115,000+
volunteer hours

84

countries and territories

Citi 2022 ESG Report

UKRAINE SPOTLIGHT
In Poland, dozens of projects were coordinatedto support the needs of Ukrainian refugees withfood assistance, school supplies and linguistic
support, for children adapting to a new language.
At our global headquarters in New York City,
members of our Executive Management Team andother colleagues joined forces to pack 30,000
meals to support relief efforts in Ukraine.

4,000+~30,000

3,300+

volunteer hours
committed to
Ukraine relief

meals donated tosupport relief effortsin Ukraine andsurrounding countries

pounds of first aid
and animal foodcollected

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Our People Strategy

Talent and Diversity,
Equity & Inclusion
Our People
Strategy
Our colleagues drive our progress globally, andour ability to attract and retain a highly qualified
and motivated workforce is foundational to ourbusiness. We work every day to foster a cultureof excellence for our people by investing in thegrowth and well-being of our colleagues, as wellas embracing diversity, equity & inclusion (DEI)
in all we do.
We constantly strive to ensure Citi remains agreat place to work — where people can thrive
professionally and personally. And we continue
to do what’s right by our colleagues, clients andshareholders. We have a track record of looking
ahead and putting in place leading practices
that support our global workforce, enableeconomic progress and drive our firm forward.

Citi 2022 ESG Report

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• Optimizing transparency to promoteaccountability, credibility and effectivenessin achieving our goals
Our human capital priorities are reflected in theculture and inclusivity of our firm, and in theimpact and outcomes that our people generate.

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

QUICK LINKS
Our Talent and DEI Strategy
Pay Equity
2025 Aspirational Representation Goals

How WeWork
In 2022, we adapted and evolved how wework at Citi to enable colleagues around theglobe to better integrate work and life, while
delivering the benefits of being together inperson. We were the first major U.S. bankto publicly embrace a flexible, hybrid work
model. In keeping with the vision set by our
CEO Jane Fraser, to be a human bank, we arelaser-focused on working in ways that drive
collaboration and meaningful connections,maximize apprenticeship and learning opportunities, leverage technology to our advantage,
support colleagues’ well-being and belonging,and treat our colleagues equitably.
In implementing our hybrid work model, we havefocused on keeping our approach consistent andaligned with our values and priorities. We strive

to be transparent about our expectations aroundhow we work together and honest about where
improvements must be made. Finally, we focus
on making our ways of working sustainable,both for existing and new colleagues across ourglobal bank.
Our model provides three possible designations: hybrid, remote and resident. Hybrid roles
offer colleagues the flexibility to work at least
three days per week in the office and up to
two days from home. The majority of Citi roles
are designated as hybrid. Remote roles may
be performed entirely from outside our officelocations. Resident roles are jobs that cannot
be performed remotely, such as tellers in ourbranches. No matter what a colleague’s job
designation, Citi is committed to promoting an
inclusive and equitable working environmentand offering resources and benefits to support
them in this model.
Our hybrid work environment has had several
advantages for attracting talent. Hiring on a
global scale in a hybrid environment has offered

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Building Equitable & Resilient Communities
Our People Strategy

many benefits, including allowing maximum
flexibility and access to a broader range ofcandidates. Applicants interview virtually,
which provides a more seamless approach forcandidates and managers. Between welcoming
new employees and internal mobility, wereached 3.3 million global applications, up
17% year over year, and leading to an increasein the number of total hires, up 27% year overyear. Through our diverse hiring practices andfocus on our people, we continue to hire andmaintain an increasingly diverse workforce.
Citi is continuing to build a workforce that isinclusive and reflective of our customers andclients. For example, we do this through ourdiverse slates guidelines for the majority of theroles we recruit for to have at least two women
and/or U.S. minorities in our interviews for U.S.
hires and at least two women in our interviewsfor global hires for Assistant Vice President
roles and above.

Citi 2022 ESG Report

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

ATTRACTING, RETAINING AND
ADVANCING THE BEST TALENT
Our human capital priorities are foundational to our success during a dynamic
period for our workforce.

In 2022,36%

of open roles were filledfrom within the company.
We also sustain connections with former
colleagues through our Alumni Network,
and in 2022, we hired more than 5,000“boomerangs” back to Citi.

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Well-being Benefits
to Support All Our
Colleagues
Our benefit programs and initiatives support
the immediate and long-term well-being ofcolleagues in all locations to help them besuccessful at work and at home. Our benefits
are designed to align with our values and help
to attract, engage and retain colleagues.
In addition to competitive compensation andstandard benefits such as healthcare, retirement
and paid time off, we offer colleagues a wide
range of support for their personal and professional health and development in and outside
the workplace. Our benefits are consistent withineach country where possible and practical,
and we offset a greater portion of their cost forlower-paid colleagues.
To name just a few, these benefits include 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 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
can find the programs best fit for their needs
and goals. Citi supports educational attainment
by prepaying eligible expenses through tuition
assistance, and also reimburses employees for
eligible out-of-pocket costs.

Citi 2022 ESG Report

In 2022, we focused particularly on expanding
mental health and well-being offerings to
support our colleagues around the world. For
example, in October 2022, Citi organized a
global campaign recognizing World Mental
Health Day that included workshops for boththe manager and the individual, providing tools
and discussion to help colleagues at all levels
recognize signs of struggle and appropriate
steps for intervention before a crisis point isreached. These workshops focused on building
resilience by helping participants to “turn thelens inward” and to realize when their individual
well-being is starting to decline, as well as
developing a toolkit of actions to help recoverand protect individual well-being.
Our new and enhanced mental health,well-being and work-life balance benefits
include:• BetterHelp, a service that provides accessto counseling via phone, video conference orlive chat for U.S. colleagues, allowing themto select a therapist based on gender, race,
area of expertise and more.

• CareNow, a free cognitive behavioral
program (offered through LifeWorks) for U.S.
colleagues and their families – even if they
aren’t enrolled in medical plans with Citi – toaddress anxiety, depression and more. This
complements the free and confidential Be
Well counseling offered on-site at seven of
our largest U.S. locations.

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

off. Colleagues are limited to two sabbaticals
and receive 25% of their base pay. This isavailable in the U.S. and Puerto Rico, Canada,
the UK, Hong Kong, Costa Rica, Singapore
and Japan.

• Giving Back program, supporting colleagues
who have been with Citi for five years or moreto spend two to four weeks working with acharitable institution, while still receiving
100% of their base Citi pay.

• A vacation purchase program that allows
colleagues to buy up to five additional days ofvacation/planned time off each year. This isavailable in the U.S. and Puerto Rico, Canada
and the UK.

• Sleepio, a cognitive behavioral program
to improve sleep and reduce anxiety anddepression, for colleagues and their families
in the U.S. and Canada.

• Full-time child care centers in select geographies that allow for part-time and backup
care to support global colleagues’ hybrid
schedules.

Recognizing Heritage Holidays
Building on the U.S. government’s declaration of
Juneteenth as a federal holiday marking the endof slavery, we added it as a new paid holiday for
U.S. colleagues in 2022. In 2020, Citi implemented one additional floating holiday, called
Heritage Day, which colleagues can take at any
time to honor a day of personal significance.

• “Refresh, Recharge, Reenergize,” a 12-weeksabbatical program for colleagues who
have been at Citi for at least five years — atany level — to pursue personal interests or
education, travel abroad or simply take time

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Our Talentand DEI
Strategy
At Citi, DEI is foundational to our culture and thegrowth of our business. The global reach of ourbank allows us to glean 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 Talent and DEI issues
to help us attract and retain professionals who
reflect diversity in all its forms.
Our Talent and DEI strategy is built on theprinciples of career development and mobility,
consistency and equity in employee experience,transparency, data-driven decision-making andoutcome orientation. This strategy underpins
our ability to build a company where the besttalent wants to work and where people ofevery race, gender, sexual orientation, ability,
military status, religion, age, gender identity andethnicity can reach their full potential. As ourTalent and DEI strategy continues to evolve, wehave crystallized our company-wide approacharound the following pillars:• Promote a Diverse Employer of Choice Brandby enhancing communications and brandvisibility through strategic partnerships• Manage and Develop Talent by recruiting andretaining a diverse group of top talent anddeveloping strong next-gen talent pipelines

Citi 2022 ESG Report• Foster an Inclusive Culture by developing
inclusive leaders and empowering allies• Drive Accountability by holding leaders
accountable for working toward new aspirational representation goals and fostering an
inclusive work environment• Engage Clients by deepening client andcustomer relationships to enhance marketplace opportunities
At Citi, we want to ensure our colleagues feelempowered to develop and be their true andauthentic selves. Our commitment to DEI starts atthe top and is prioritized across the organization,with shared accountability among managers. DEI
factors, including the representation of womenand racial/ethnic minorities, continue to be
included in senior executives’ scorecards.
We encourage senior leaders to drive talentmobility across their teams. Citi has a focus oninternal talent development and aims to provide
colleagues with career-growth opportunities,
with 36% of open positions filled internallyin 2022. These opportunities are particularly
important as Citi focuses on providing career
paths for internal talent, as part of its efforts
to increase organic growth and promotions
within the organization. We have also expanded
our Talent Assessment practice to drive moredata-based decision making around talent.
Recognizing and celebrating religious diversity
in the workplace has become an essential partof creating a culture where all colleagues feelempowered to bring their authentic selves
to work. Citi is a long-standing supporterof the Tanenbaum Center for Interreligious
Understanding, which provides organizations
with training, robust consulting support andresources to enable members of different faiths

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

to practice their religion in the workplace,while guiding their colleagues to be allies inthese efforts.
In 2022, as part of our efforts to celebrate
religious diversity, we hosted an inaugural Iftar
dinner, open to colleagues of all faiths to cometogether and share how they recognize Ramadan.
At Citi there is no place for any form of hate,including intolerance of religious diversity. We willcontinue to expand our efforts and resources toensure that colleagues of all faiths, religions, andbackgrounds feel supported and empowered tobe their true selves in the workplace.

Responding to
Global andLocal Issues
We respond to global and local issues to support
the values of our company, colleagues, clients,and other key stakeholders, working with various
nonprofit and community partners to support
the advancement of people with disabilities,
veterans, women, racially and ethnically diverse
people, and other groups, both in business andcivic life. For example, in Buffalo, New York, where
Citi is one of the largest employers, Citi donated$100,000 in 2022 to the United Way of Buffalo
and Erie County to help support the community
following a racially motivated mass shooting.
Citi was also a proud signatory of the Human
Rights Campaign’s letter to the U.S. Senate insupport of the Respect for Marriage Act (RMA)in July 2022. Signed into law in December, the
RMA is an important step toward protecting theright to same-sex and interracial marriage in the

Appendices
Global Workforce Data

U.S. For 18 consecutive years, Citi has received
a perfect score on the Human Rights Campaign
Foundation’s Corporate Equality Index, a national
survey that benchmarks corporate policies andpractices for LGBTQ+ workplace equality.
In Brazil, Citi has actively worked to expand therights and protections of LGBTQ+ individuals. In
2022, Citi was among 90 companies and organizations that signed an open letter supporting
diversity, respect and inclusion of LGBTQ+
people in Brazilian workplaces. Out & Equal
organized the effort ahead of Brazil’s presidential
elections in October.

Developing
Inclusive Leaders
To develop leaders dedicated to an inclusive
culture and equipped to promote one, we offer
a range of training and development initiatives.
For example, in 2022, these included thefollowing programs:• Continued the enterprise-wide rollout of
unconscious bias training and and madeinclusive leadership training available to all
managers.

• Our LGBTQ+ Reverse Mentoring Program,started by our Pride network in the Europe,
Middle East and Africa (EMEA) region,
has garnered more than 600 participants
globally since its inception. It has been so
successful that its organizers have helped
clients of the firm introduce their own
reverse mentoring programs.

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Pay Equity
We continue to disclose our adjusted andunadjusted (or “raw”) pay gaps for both
women and U.S. minorities, to hold ourselves
accountable for making progress. The adjusted
pay gap is a true measure of pay equity, or “likefor like,” that compares the compensation of
women to men and U.S. minorities to nonminorities when adjusting for factors such as job
function, title/level and geography.
The raw gap measures the difference in mediancompensation when we don’t adjust for anyof the aforementioned factors. The existenceof our raw pay gap reflects a need to increase
representation of women and U.S. minorities
in senior and higher-paying roles. Our latest
results, released in March 2023, found 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 no statistically significant difference in adjusted compensation for
U.S. minorities and nonminorities.
Following the review, we made appropriate pay
adjustments as part of the firm’s 2022 compensation cycle. In particular, our 2022 raw gap
analysis showed that the median pay for women
globally is more than 78% of the median for men,up from 74% in 2021 and 2020 and 73% in 2019;the median pay for U.S. minorities was more than
97% of the median for nonminorities, which is up
from 96% in 2021, and 94% in 2020 and 2019.
Continuing to reduce our raw pay gap requiresthat we increase representation of women and
U.S. minorities in senior roles across the firm.

Citi 2022 ESG Report

These pay equity reviews represent a “momentin time” snapshot of our employee base, which isconstantly changing as people come in and outof the firm, as colleagues are promoted and as
market dynamics change.
We’re continuing to innovate how we recruitand develop talent and to use data more
effectively to help us increase diversity at moresenior levels at Citi. Our philosophy is thatevery member of the Citi team is responsible forprogress in making Citi an even more inclusive
and equitable workplace.

Aspirational Representation
Goals Help Drive Pay Equity
Citi was the first company to disclose adjusted
pay results, and in 2019, we became one of
the first companies to disclose our unadjusted,
or “raw,” pay gaps for both women and U.S.
minorities. While working to understand thesepay gaps and make progress on reducing them,in 2018 we implemented our aspirational representation goals – to increase representation
at the Assistant Vice President (AVP) throughManaging Director (MD) levels to 40% forwomen globally (up from 37%) and 8% for Black
colleagues in the U.S. (up from 6%) by the end of
2021. By the end of 2021, Citi met and exceeded
our representation goals. Globally, we increased
representation at the AVP to MD levels for
women to 40.6%, and in the U.S., we increased
Black representation for those same levels to
8.1%. Additionally, when we included all ourBlack colleagues in the U.S., including those who
self-identify as two or more races at the samelevels, Black representation increased to 9.1%.

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

Historical Progress of Raw and Adjusted Pay Gap
Historical Comparison
Pay for women
globally relative to men
99%

99%
71
cents

2018

2022

2018

Adjusted*

Pay for U.S. minorities
relative to non-minorities in the U.S.
78
cents

100%

100%

93
cents

97
cents

2018

2022

2018

2022

2022

Raw

Adjusted*

Raw(Not statistically significant)Comparison of Raw and Adjusted Pay Gap Between 2021 and 2022

99%

78%

97%

Adjusted median pay for
women globally is
99% (2022) that of men,which is largely unchanged
from 2021

Raw median pay for women
globally relative to men
improved from 74% (2021)
to 78% (2022)

Raw median pay for U.S.
minorities relative to
non-minorities in the U.S.
improved from 96% (2021)
to 97% (2022)* Largely unchanged from 2018.

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2025 Aspirational
Representation
Goals
Our diverse workforce continues to reflect
macro demographic changes in the world, so it isimportant that we continue to evolve the way we
do business. In 2022, we expanded our firm-wide,
aspirational diversity representation goals to
include additional markets and underrepresented
groups.
We continue our focus on increasing diversity of our
mid- to senior-level colleagues and early-careerhires. Having aspirational representation goals
across levels will help ensure we not only havediverse talent in leadership roles, but will also help
us build a diverse talent pipeline for the future. Aspart of those goals, we are proud of being the firstmajor U.S. bank to set an aspirational recruiting
goal for LGBTQ+ early-career hires globally.
To drive accountability and progress, our 2025
representation goals are embedded in our businessstrategy as well as our executive scorecards. In
addition, we undertake ongoing pipeline analyses
to help us assess the availability and flow of diverse
talent at Citi and see how we can achieve better
representation among women and racial/ethnic
minorities. Intentionality in talent development
is essential if we are to elevate more women andracial/ethnic minorities to high-level positions at
Citi — and across our industry as a whole.
Access our public announcement to learn more
about our 2025 goals and how we developed them.

Citi 2022 ESG Report

THE IMPORTANCE OF SELF-ID

Building on these efforts, we arecommitted to better understanding thecomposition of our colleague population and implementing competitive andeffective Talent and DEI programs andpolicies. As we continue to enhance
our Talent and DEI programs, we areassessing where we have gaps inrepresentation in certain regions. With
more targeted data, we can be evenmore intentional in cultivating a cultureof inclusion.
We encourage all colleagues to self-ID
and will prioritize increasing participation.

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

2025 Aspirational Representation Goals
by the Numbers

Core to our data-driven approachis gaining a better understanding of
who comprises our workforce andobtaining self-ID from our people
so we can better meet the needs ofour organization and create a culture
where everyone can thrive. Throughconcerted efforts during 2021’s
self-ID campaign, nearly 90%, of our
total workforce, across 46 countries,
were invited to self-ID their race andethnicity, gender identities, sexual
orientation, disability status and military status, as permissible by local laws
and regulations.
In 2022, we expanded the categories
under our sexual orientation andgender identity dimensions. Additionally,
we continued to encourage thereporting of multiple races/ethnicities
for those colleagues who self-identify
as such by enabling the selection of
specific races/ethnicities.

Talent & DEI

We believe that everyone belongs in banking. Understanding that diversity fuels our culture andbusiness success, we are expanding the representation goals1 we initially set in 2018, so that Citi
better reflects the communities we serve and is a place where all can thrive.

U.S.

16%

North America

UK

11.5%

11% 3%

Black Colleagues

Hispanic & Latino
Colleagues

Asian

Global

Black

43.5%

3%

BrazilWomen Colleagues

Mixed Ethnicity& OtherColleagues3

1O%

Black & Pardo2
Colleagues

CAMPUS RECRUITING
We recognize the importanceof expanding diversity andintersectionality4 whenrecruiting our next generationof leaders.

Global

50% 3.5%
Women

LGBTQ+

UK

North America

25%

30%

Underrepresented
communities5

Underrepresented
communities5

All representation goals, with the exception of Campus Recruitment goals, seek to increase representation at the Assistant Vice President
to Managing Director levels.
2
Pardo is an ethnic and skin color category used by the Brazilian Institute of Geography and Statistics in the Brazilian census. The term is morecommonly used to refer to Brazilians of mixed ethnic ancestry.
3
The “mixed ethnicity” category has been used by the UK’s Office for National Statistics since the 1991 census and refers to British citizens orresidents whose parents are of two or more different races or ethnic backgrounds. “Other” includes Arab and any other ethnic group and is adefined classification by the UK’s Office for National Statistics.
4
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.
5“Underrepresented Communities” in the UK consist of those who are Black, Asian and Minority Ethnic (mixed/multiple ethnicities and otherethnic groups) and refers to those in North America who identify as Black or Hispanic/Latino.
1

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Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

Diversity at the Top: Senior Leader Representation
ABOUT OUR NEW 2022 MANAGING DIRECTORS

2022 MANAGING DIRECTOR CLASS
Citi promotes a new class of Managing Directors (MDs) each year. Thisis the highest officer level at Citi and is a testament to these individuals’
performance and commitment to living our Leadership Principles —Taking Ownership, Delivering With Pride and Succeeding Together — andinstilling them in their teams and throughout the entire firm. For our
2022 class, we promoted 331 MDs, who are based in 26 countries andrepresent one of the largest and most diverse cohorts in recent years.

EXECUTIVE MANAGEMENT TEAM AND 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 lead amajor U.S. bank. As of April 24, 2023, based on self-identification data,
four (25%) of our 16-person Executive Management Team are womenand six (37.5%) are racially/ethnically diverse. Also, seven (54%) of the
13 members of our Board of Directors are women and 1 (8%) identifies asa racial/ethnic minority. Citi was among the first Fortune 500 companies
to achieve gender parity on its Board.

TITI COLE MAKES HISTORY AS FIRST BLACK WOMANON THE EXECUTIVE MANAGEMENT TEAM AT CITI
In early 2022, Titi Cole was appointed CEO of our new Legacy Franchises
operating segment and, in doing so, became the first Black woman to bepart of the Executive Management Team.
Cole is a 30-year veteran of the financial services industry and has servedin leadership positions at other major banks. She joined Citi in 2020 andpreviously served as the Head of Global Operations and Fraud Prevention
and the Chief Client Officer for Personal Banking and Wealth Management(PBWM). She is a strong advocate for Diversity, Equity & Inclusion acrossthe firm and led initiatives across PBWM to increase representation of
women and underrepresented groups.

Summary by geography
North America

Latin America

174 52.6%

23 6.9%Europe, Middle East And Africa

Asia Pacific

91 27.5%

43 13%U.S.

26 COUNTRIES IN 2022

64 37.2%of the new MD class was racially/ethnically diverse*(out of the 172 promoted in the U.S.)

Asian

Summary by year

Black

Hispanic/Latino

21.5%

4.1%

12.8%

37 Colleagues

7 Colleagues

22 Colleagues*Some MDs identify with more than one ethnic/racial group

Largest class in recent years

5

306 in 2021
241 in 2020

5LGBTQ+

331

220 in 2019

Promotionsin 2022198 in 2018

Veterans

4

People withdisabilities

178 in 2017

THE MOSTWOMENPROMOTED
in recent years

110
in 2022106 in 2021
70 in 2020
62 in 201949 in 2018
49 in 201733.2%

of the total MDs promoted

	 The diversity data reflected in this document 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 2022 ESG Report

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Recruit, Retain
and Promote
We recognize that diverse, talented teams,
from the C-suite to all levels and areas of thefirm, are critical to our success. We continue
to strengthen our talent pipelines and hone
our hiring processes, and we’re committed to
paying equitably and competitively to attract
and retain talent.
In 2022, we made meaningful progress inengaging with Historically Black Colleges andUniversities (HBCUs), investing in early-career
programs and utilizing diverse candidates andinterviewer slates in the hiring process.
We also expanded the efforts of the Diversity
Sourcing team, launched in 2021 in the U.S., toconsistently identify qualified diverse talent forconsideration for open positions. To support
our efforts to recruit neurodivergent talent, in
2022, we partnered with Autistica DARE to
train our talent acquisition team and managers
in making our hiring process accessible to all
candidates, especially neurodivergent talent.
We are piloting the program in the UK and
Ireland, with plans to expand it to the U.S. and
our Asia Pacific (APAC) region.
We have also expanded engagement withexternal partners, including diversity professional organizations such as Out & Equal, theAsia Society, the Council of Urban Professionals,
Hispanic IT Executive Council and Disability:IN.
These relationships have enhanced our ability
to attract and hire mid- to senior-level talent, in
support of our inclusive culture. Some examplesof our initiatives with partners follow.

Citi 2022 ESG Report

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

• Creating a more accessible workplace: Citi
partners with Autistica to offer training on
how to support and create a more accessible workplace for our colleagues who areneurodivergent. Through inclusive language
guides, myth busting and practical tips, we
equip our people to conduct business andrun accessible meetings for neurodivergent
colleagues.

• Cultivating sensitivity: To further enhance
our inclusive culture, in the UK we are
implementing a reverse mentoring programin which neurodivergent individuals mentor
neurotypical individuals to create understanding about their lived experiences.

Managing Performance
The performance management approach at Citi
centers on our Leadership Principles — Taking
Ownership, Delivering With Pride and Succeeding
Together. It also emphasizes evaluating whatcolleagues deliver on financial performance,risk and controls, and clients and franchise, as
well as how colleagues deliver from a leadership
perspective. Citi encourages feedback at any
point throughout the year to supplement midyear
and year-end formal conversations.

Campus and Early Recruitment
Our campus recruiting program is an important
way for us to diversify our employee base, andwe have a robust pipeline of talent from HBCUs
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.

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
and nondiscrimination.
For more information, see the Human Rights
section of this report, our Code of Conductand our website for policies around fair
employment and compensation. Moreinformation can also be found in the GRI
Index of this report.

Professional Developmentby the Numbers
More than

10,000,000
total training hours in 2022

~38
training hours percolleague in 2022

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Representation in Our Analyst
and Associate Programs

52%

52%

We invest in training college and high school
students through our early engagement andapprenticeships programs. While we would
like the students to consider the possibility ofa future with Citi, our primary goal is to provide
them with helpful tools on their path toprofessional success, without regard forindustry or profession.
Key programs include:

2021

50%

2021

52%

2022

2022

Representation of
women in full-time
analyst and associate
roles

Representation of
women in the summer
analyst and associateprograms

29%

32%

2021

2021

• Our Citi University Partnerships in

Innovation & Discovery (CUPID) Program
enables us to accelerate innovation initiatives across Citi by engaging high-potential
students and developing a robust, diverse
pipeline of talent from universities across theglobe. In 2022, the CUPID Program engaged
400-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 diverse talent
for summer analyst programs across thefirm. These programs provide early exposure
to, and education around, our businesses,
technical training, mentorship and culture.

• Our Freshman Discovery Day is an intro-

32%

29%

2022

2022

Black and Hispanic/
Black and Hispanic/
Latino representation Latino representation inin full-time analyst
the summer analyst andand associate roles
associate programs

Citi 2022 ESG Report

ductory program to support freshmen fromdiverse backgrounds in gaining technicalskills and learning about various roles infinancial services.

• Our Early Identification Program focuses
on mentorship, interview preparation andbest-in-class training to identify diverse
talent for our summer analyst programs overa five-week period.

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy• Our Sophomore Leadership Program offers
hands-on work experience, mentorship,peer networking and necessary skills overa 10-week summer internship, to provide apipeline into our full-time analyst programs.

• Our recruitment event on Martha’s Vineyardin Massachusetts provides Black high school
and college students with an opportunity
to network with industry professionals
and learn about potential career paths infinancial services.

• Apprenticeship Programs enable us toaccess a new pipeline of diverse talent,particularly those with varying levels of priorexperience, from different backgrounds
and with alternative perspectives. In
London, an 18-month structured programof learning, combined with a real role at Citi,
is designed for individuals who have notbeen to university, but instead are hoping to
kick-start their careers with an opportunity
to gain work experience alongside professional qualifications. Our first cohort has
successfully completed the program andmoved into permanent roles at Citi. So far,
21 apprentices have been hired through thisprogram in London.

Appendices
Global Workforce Data

44 Global Wealth Management analysts
participated over two months.

• Through Progress Builders, we provide
Costa Rican high school students fromtechnical backgrounds with meaningful work
experiences to complement their academic
learning. We had 15 Progress Builders interns
in 2022, 60% of them women.

• Our Women RISE at Citi event in Brazil
provided women students with exposure
to various career opportunities in finance,
education on business areas at Citi andparticipation in a hackathon to strengthen
their problem-solving and technical skills.

• The Citi Campus Disability Summit, forstudents with disabilities, debuted in
April 2022.
We continue to partner with Management
Leadership for Tomorrow (MLT), SEO andWayUp, U.S.-based recruiting platforms that
attract diverse students, enabling our recruiters
to communicate and engage with students topromote job opportunities.

• Youth Co:Lab, APAC’s largest youth-led social
entrepreneurship movement, provides anopportunity for our analysts to help advance
the UN Development Program goals. Since
2021, Citi has partnered with the UN to have~150 Consumer and Operations analysts
across 12 APAC markets work in small teams
to support young entrepreneurs from developing countries in refining their startups’
mission, vision, impact and strategy forunlocking funding and resources. In 2022,

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Climate Risk & Net Zero

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Building Equitable & Resilient Communities
Our People Strategy

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

Citi 2022 ESG Report

How We Work

Our Talent and DEI Strategy• Citi Women’s Leadership Development• Executive Leadership Council (ELC)• The Disability:IN Next Gen Leaders program

partnership enhances our investment inBlack leadership and establishes a cohesive
development journey and continuumfor Black leaders at Citi. Through thispartnership, Citi will continue to develop
mid- to senior-level colleagues over three
years.
coaching program for Black colleagues,
provides exposure to our senior leadershipand supports professional and personal
development. Over the course of several
months, participants join group coachingcircles, led by an external executive coachand a senior leader at Citi. Managers of theparticipants also take part in group coaching
to better understand the experience of Black
colleagues in the workplace.

We’re committed to helping our colleagues gain
the skills and experience they need to achieve
their professional goals and deliver the bestfor our company and our stakeholders. Hiring,promoting and retaining more women andracial/ethnic minorities in senior, high-paying
roles is especially critical to our success — andsupports our ambitions around representationand pay equity.

Responsible BusinessWe invest in a wide range of career development and planning for diverse talent throughmentorship, networking, rotational programs
and partnerships, and we continue to evolve ourlearning programs to meet new needs:• Owning My Success (OMS), a group

Developing and Enabling
Our Talent

Talent & DEI• Black Leaders for Tomorrow, within theInstitutional Clients Group, offers an
advocacy program for Black directors.

• Hosted the first Black Managing Director

Summit, with respondents indicating thatthey felt the content and information theyreceived will help them develop as leaders.
The Summit was so successful that we plan tohost additional heritage-specific summits tocontinue to drive retention, diverse leadershipand professional skills development.

Program brings together a group of
Senior Vice Presidents and Directors fromaround the world to network and develop
leadership skills.

Appendices
Global Workforce Data

• The Out & Equal Leadership Development

Program is a six-part interactive development
program for LGBTQ+ employees. This series
aims to develop participants through interactive content on how to lead within teams,
lead teams, and lead in communities.

matches mentors to students and recent
graduates with disabilities. Nineteen Citi
colleagues served as mentors in 2022. Citi
also participated in recruitment events in
APAC and the U.S. through Disability:IN, aswell as at the Disability: IN Global Conference.

• Expansion of the Citi Career Women’s

Empowerment Program, which includes
virtual modules to strengthen skills such as
leadership, strategic communication andemotional intelligence. Launched in LATAM
in 2019, we have expanded in 2022 to all
regions, reaching 14,000 participants.

• Global Talent Development Program offers
six- to nine-month assignments abroad
to select vice presidents and senior vicepresidents across Personal Banking & WealthManagement (PBWM). Program participants
return to their teams with an expanded Citi
network and a global understanding of the
firm.

• Black & Hispanic Leadership Journey:This immersive program for AssistantVice Presidents across PBWM accelerates
their development through sessions andcoaching on personal brand, confidence,organizational savvy and challenges facing
diverse leaders. The program also engages
participants’ managers.

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Our People Strategy

Citi Inclusion
Networks
Our Employee Network chapters serve as local
representatives of our Inclusion Networks.
Initiated and led by colleagues at our work sites,
the Networks offer professional development,
mentoring, networking and community
engagement opportunities to members andcolleagues.
Each of our eleven Inclusion Networks is co-led
by a member of our CEO’s leadership team.
The number of our global Employee Network
chapters increased from 226 in 2021 to 238
in 2022, while the total number of uniquemembers in the groups increased from 21,000+
to more than 31,000 globally.
2022 marked the 20-year anniversary of our
Employee Networks. As some of the firm’s mostvisible forms of DEI, our networks have historically played a critical role in fostering a cultureof inclusion for all. So much has changed in
20 years, and as the world around us evolves,so, too, should our approach to talent and DEI.
As such, we have commenced our Employee
Network transformation by rebranding our
Affinity Networks as Citi Inclusion networks, tofurther emphasize that our Networks are open
to all colleagues, regardless of their identity:• Citi Families Matter Network• Citi Hispanic/Latino Heritage Network• Citi Pride Network• Citi Women Network• Citi Salutes® Network• Citi Multicultural Heritage Network• Citi Generations Network• Citi Social Mobility Network (UK Only)
We will continue to take a phased approach inenhancing our strategy to be more impactful
and global, so that there is a clearly defined
purpose and DEI alignment in all of our
Network activity.

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

REGIONAL DIVERSITY HIGHLIGHTS
We strive to take a truly global approach on talent and DEI. That means we seek tounderstand the nuances of local issues, while protecting human rights related
to DEI and supporting a culture of inclusion, within our operations and our larger
sphere of influence.

RegionInitiative

Background

Asia
Pacific

EY x Citi
Publication:
An Asia Pacific
Perspective
on Disability
Inclusion

Highlights the various common disabilities, varying levels of support
across the region, and how organizations and individuals can help advancedisability inclusion in the workplace and create long-term value.

Europe,MiddleEast andAfricaLaunch of theSocial Mobility
Network in
the UK

Launched in 2022, this network is focused on creating awareness ofand celebrating the diversity of the socioeconomic backgrounds of ourcolleagues. Citi is the first major bank to create an employee resourcegroup focused on social mobility.

Latin
America

The Inclusive
Branches
ProgramResponds to the need for a comprehensive strategy in Citibanamex
branches to increase DEI knowledge, with the goal of promoting aculture of internal and client-oriented inclusion. It does so through two
main actions: a Diversity & Inclusion Protocol with a focus on customer
service; and a communication campaign through all the branches’ communication channels. More than 15,500 colleagues in branches were
exposed to the Inclusive Branches materials in 2022.

This report is posted to Citigroup.com and can be viewed here.

• Citi Asian Heritage Network• Citi Black Heritage Network• Citi Disability Network

Citi 2022 ESG Report

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Sustainable Operations

Building Equitable & Resilient Communities
Our People Strategy

Voice of the Employee

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

2022 SURVEY HIGHLIGHTS

90%

Our annual Voice of the Employee (VOE) survey provides valuable
insights regarding colleague engagement and perceptions about our
firm — our pain points as well as our successes. In 2022, we worked
with the Digital Accessibility Center for Excellence to ensure the
VOE’s accessibility for all colleagues.
Participation in this latest VOE matched our all-time high of 88%,with results remaining strong in key areas. Ethics continues to be oursignature strength, with results showing that 90% of colleagues feel
comfortable reporting unethical practices without fear of reprisal.
Our leadership principles also continue to shine, with 90%
of colleagues believing we deliver excellence for our clients.

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

88%

90%

My manager promotes
diversity, equity & inclusion
in our team90%

We Take
Ownership88%

We DeliverWith Pride

We Succeed
Together

Other areas where we are excelling:87%

agree that mangers make iteasier to collaborate acrossteams and businesses

92%

Core Indices*of colleagues feel more
empowered to deliver on
their team’s goals

86%

Feedback from Citi colleagues is critical to our strategy, and ourefforts to simplify the firm are a work in progress. We continue tostreamline processes and decision-making to make Citi an easierplace to work. To ease intense workloads, we are filling roles in key
parts of the business and making sure colleagues know where togo for support when needed.

Diversity, Equity& Inclusion

80%

93%

2021 80%2020 82%2021 91%2020 91%

Engagement

Ethics88%
Manager
EffectivenessNote: Data based on favorability/agreement rates from eligible Citi colleagues.
* Due to updates introduced in 2022, trend data is not available for the DEI and Manager Effectiveness indices.

Citi 2022 ESG Report

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Sustainable Operations

Building Equitable & Resilient Communities
Our People Strategy

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

Global Workforce Data

Total Employee
Headcount

239,903
Total Employees

59,88736,78674,481

New Employee Hires

Employee Turnover

Employees by Genderin the U.S. **

Total

Total

237,659
Full-Time
2,244
Part-Time

58,878Full-Time

1,009
Part-Time

35,852Full-Time

Total Employees by Physical Region***77,290Total Employees

Employees
by Gender*
120,079
Women
119,779
Men

20,495

11,575

Hires

Turnover934
Part-Time38,785
Women

35,681Men

36,343
Europe, Middle East and Africa

North America

239,903

Total

8,421

4,768

Hires

Turnover51,39074,880Latin America

Asia Pacific

10,205

7,287

20,766

13,156

Hires

Turnover

HiresTurnover* 45 employees did not disclose.
** 15 employees did not disclose.
*** Data provided is based on physical geography. For a regional breakdown of our managed geography, please review our Annual Report.

Citi 2022 ESG Report

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Our People Strategy

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

Racial/Ethnic Composition of U.S. Employees

162

14,5138,598

American Indianor Alaskan Native

AsianBlack or African

6,412 8,101

AmericanTotal

74,481*

Total

Total

Total employees

94 68
Women

Men**

38,78535,681

5,437 3,161

14,032136

1,400

33,913

Hispanic or Latino***Native Hawaiian
or Pacific Islander

Two or More Races**White

750 649

17,265 16,648

Total

8,031 6,000

Total

85 51

Total

Total

* 1,727 people did not disclose race/ethnicity; 15 did not disclose gender.
** Figures shown in black represent the number of colleagues who have identified as women. Figures shown in blue represent the number of colleagues who have identified as men.
*** 1 person identified as Hispanic or Latino but did not disclose gender, and 1 person identified as Two or More Races but did not disclose gender.

Citi 2022 ESG Report

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Climate Risk & Net Zero

Sustainable Operations

Building Equitable & Resilient Communities
Our People Strategy

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

Citi 2022 Consolidated U.S. Employer
Information Report (EEO-1)
TABLE A
Advocacy Statement and Multiple Identity Breakdowns: While certain regulatory reports such as our EEO-1 filings will continue to require that each Citi colleague bedesignated as shown in Table A, our internal tracking has evolved to appropriately capture the reality of who our people are, as detailed on the following page in Table B.

Job Categories

Gender

Hispanicor Latino

White

Black or African
AmericanNativeHawaiian or PacificIslanderAsian

AmericanIndian or
Alaskan Native

Multi-Racial

Total

Executive/Senior Officials

Male

5

40

3

1

10

0

1

60

and Managers

Female

4

28

6

0

4

0

1

43

Subtotal

9

68

9

1

14

0

2

103

First/Mid Officials

Male

1,056

4,549

436

10

2,277

22

71

8,421

and Managers
Professionals

Technicians

Sales Workers

Administrative Support Workers

Craft Workers

Operatives

Laborers and Helpers

Service Workers

Total

Citi 2022 ESG Report

Female

958

3,261

543

9

1,086

13

72

5,942

Subtotal

2,014

7,810

979

19

3,363

35

143

14,363

Male

2,303

7,523

1,657

26

4,831

32

219

16,591

Female

2,355

6,361

1,960

31

3,616

22

221

14,566

Subtotal

4,658

13,884

3,617

57

8,447

54

440

31,157

Male

43

46

22

0

9

0

2

122

Female

23

59

7

0

13

0

2

104

Subtotal

66

105

29

0

22

0

4

226

Male

1,280

2,592

325

11

844

5

76

5,133

Female

1,329

1,245

344

16

1,138

9

53

4,134

Subtotal

2,609

3,837

669

27

1,982

14

129

9,267

Male

1,427

2,866

809

16

327

22

102

5,569

Female

3,585

7,076

2,845

39

750

58

277

14,630Subtotal

5,012

9,942

3,654

55

1,077

80

379

20,199

Male

1

5

0

0

0

0

0

6

Female

0

0

0

0

0

0

0

0

Subtotal

1

5

0

0

0

0

0

6

Male

0

4

0

0

0

0

0

4

Female

0

3

0

0

0

0

0

3

Subtotal

0

7

0

0

0

0

0

7

Male

0

0

0

0

0

0

0

0

Female

0

0

0

0

0

0

0

0

Subtotal

0

0

0

0

0

0

0

0

Male

2

0

1

0

0

0

0

3

Female

0

0

1

0

0

0

0

1

Subtotal

2

0

2

0

0

0

0

4
35,909

Male

6,117

17,625

3,253

64

8,298

81

471

Female8,254

18,033

5,706

95

6,607

102

626

39,423

Subtotal

14,37135,658

8,959

159

14,905183

1,097

75,332

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Our People Strategy

Talent & DEI

Responsible Business

How We Work

Our Talent and DEI Strategy

Appendices
Global Workforce Data

MULTIPLE IDENTITY BREAKDOWNSTABLE BRace/Ethnicity

Total Hispanic
or Latino

Only Selected
Hispanic/Latino

White

Black or African
AmericanNativeHawaiian orPacific Islander

Asian

AmericanIndian or
Alaskan Native

Hispanic or Latino

14,371

3,040

7,548

795

98

204

404

Race/Ethnicity

Total Two orMore Races

Hispanicor Latino in
Combination
with Other
Race(s)White and Other
Race(s)Black or African
American andOther Race(s)NativeHawaiian orPacific Islander
and OtherRace(s)Asian and Other
Race(s)AmericanIndian or
Alaskan Native
and OtherRace(s)Multi-Racial (or two or more races)*

1,097

11,331

836

484

86

449

231

Note: The sum totals do not represent the total sum of employees, because not all individuals elected to self-identify.
* Of the 1,097 employees identified as belonging to two or more ethnicities/races, none identified as being Latinx; separately, 11,331 employees identified as being
Hispanic/Latinx and having multiple ethnicities/races.

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Sustainable Operations

Transforming Our Risk and Controls Environment

Ethics and Culture at Citi

Responsible
Business
Transforming
Our Risk andControls
Environment
As part of an enterprise-wide effort, we areworking to modernize and simplify the bank sothat we can better manage risk, improve ourservice to clients and make Citi an easier place
to work.
Through the modernization of our infrastructure,and by evolving our culture, we are strengthening
our ability to compete in a fast-moving digitalworld. In addition to remediating issues andaddressing root causes, we are enhancing andautomating data processes — working toward
ensuring that we have the proper controls in place
while eliminating complexity.

Citi 2022 ESG Report

Building Equitable & Resilient Communities

Our Transformation Steering Committee, chairedby our CEO, sets the overall direction for our
Transformation efforts and communicatesprogress to our Board of Directors, and also seeks
input and feedback from the Board.

In October 2020, the Federal Reserve
Board and the Office of the Comptrollerof the Currency issued consent orders
to Citi requiring improvements in theway we manage enterprise-wide risk,
compliance, data and internal controls.
This, combined with an increasinglycompetitive landscape and our clients’
acceleration toward digital solutions,became the catalyst for our Transformation strategy.

Our Enterprise Risk Management Framework
helps bring consistency and structure to
identifying and monitoring the varied types ofrisks we face across Citi — leading to better

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

Appendices
Responsible Sourcing

QUICK LINKS
Risk Management
Human Rights
Responsible Sourcing

scenario-planning, stress testing and root-cause
analysis across the risk management lifecycle.
All colleagues are responsible for identifying
and promptly escalating risk-related concerns.
We have also prioritized data quality as aTransformation focus area, enhancing our Data
Governance Strategy to drive improvements in
our technology and processes.
Our Transformation is underpinned by a fundamental reset of our approach to culture andtalent. Aligned with our Leadership Principles,
we have undertaken a multiyear, firm-wide
program, designed to change the way we work byintroducing everyday habits that all colleagues
can adopt to make Citi a stronger, simpler andmore enjoyable place to work. We are focusedon ownership and building a culture wherecolleagues hold each other accountable. This
ensures we establish and work within clear roles
and responsibilities.

of employee change champions who model new
habits, encourage their colleagues to do the same,test new strategies and provide feedback. Ourannual Voice of the Employee survey indicatesthat we are making progress. In 2022, 92% ofcolleagues indicated they feel more empowered
to take ownership and deliver on their team’s
goals, and 87% agree that Citi is making it easier tocollaborate across teams and businesses.
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, and each of our employees has a related
performance goal they are working toward.

The culture change program is supported by our
senior leadership and includes communications,workshops and other resources to empower
employees. We also established a global network

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Ethicsand Culture
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 all applicable laws, regulations and Citi
policies. To reinforce this, we establish andcommunicate our core values and principles
through our Mission and Value Proposition, ourLeadership Principles, our Code of Conduct,
various training and development opportunities,
employee engagement initiatives and communications from our senior leaders.

Ethics and Culture at Citi

We expect managers to lead by example, inspire
their employees to live our values, and createa work environment that is free from discrimination, harassment or retaliation. Managers are
expected to promote awareness of resources
available for reporting concerns, encourage
employees to speak up about all issues, andthen resolve or escalate concerns throughappropriate channels. Managers must neverengage in, nor tolerate, 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.

We Ask Our Colleagues Globally to
Ensure That Their Decisions Pass
Three Tests:• They are in our clients’ interests.

Tone from the Top• They create economic value.

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.

These three tests help our colleagues to act
with integrity, to do everything possible tocreate the best outcomes for our clients, andto manage risk prudently.

Citi 2022 ESG Report

Building Equitable & Resilient Communities• They are always systemically responsible.

Code of Conduct
Our Code of Conduct outlines the standardsof ethics and professional behavior expectedof employees and representatives of Citi when

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

Appendices
Responsible Sourcing

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 that challenge; greetingchange with optimism, curiosity and resilience; speaking with candor; learning from experience; andcontributing to and honoring group decisions
We deliver with pride: Striving for excellence across our business; simplifying, standardizing andclarifying our work; holding ourselves and others accountable for managing risk; fixing root causes ofproblems; 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

dealing with clients, business colleagues, shareholders, communities and each other. It also
provides an overview of key legal and regulatory
requirements and select global policies.

services for Citi at their time of onboarding.
In addition, we ask these members of ourworkforce to reaffirm their commitment to our
Code through annual Code of Conduct training.

Our Code of Conduct, published in 21 languages,
applies to all directors, officers and employees ofCiti worldwide. Upon joining Citi, employees mustacknowledge that they have read and will comply
with our Code. Individuals performing services for
Citi may also be subject to our Code by contract
or agreement. Violations can result in disciplinary action up to and including terminationof employment or other relationship with Citi.
Our Code provides an overview of the types of
misconduct and concerns that require escalationand the resources available to employees forprompt escalation of concerns, as well as a link tothe full Citi Escalation Policy, which provides evenmore information for employees about escalation
requirements and resources.

Escalating Concerns

We provide Code of Conduct training to newhires globally when they join Citi, as well as tononemployee contingent workers performing

Our Code of Conduct emphasizes the principle
that, when in doubt, employees should
always err on the side of escalating concerns.
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 provides different channels
for employees and any third party, including
members of the general public, to reportconcerns about unethical behavior to our Ethics
Office. In addition to internal and public-facing
websites that facilitate submission of concerns,
a telephone line is available 24 hours a day,seven days a week, with live operators who canconnect to translators in multiple languages.
In 2022, Citi enhanced the phone and web
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interfaces to provide better guidance for thosesubmitting concerns and to improve mobile
device accessibility for the web platform.
All contacts to the Ethics Office and Ethics
Office investigations are treated as confidentially as 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

Citi prohibits any form of retaliation against
anyone who raises a concern or question
regarding ethics, discrimination or harassment
matters, as well as against anyone who participates in a subsequent investigation. Employees
who engage in retaliation against a colleague
because they raised a concern or question,
asked for a reasonable accommodation,

Transparency for Employees

Hearing from employees is one important way weassess the strength of ethics and accountability
across our company. As part of our annual Voiceof the Employee survey, we include an Ethics
Index to gather feedback from employees about
the following items:

Annual Ethics Hotline Summary• Comfort with reporting unethical practices
without fear of reprisal• A feeling of accountability to identify andescalate issues• Confidence that Citi will act upon reported legalor ethical violations• A belief that colleagues act with integrity• Manager encouragement of ethical conduct
even in the face of pressure
In 2022, 93% of our employees responded positively to the index, compared with 91% in 2021.
We will continue to listen to our employees andraise the bar in this area.

Citi 2022 ESG Report

Ethics and Culture at Citi

relationships, referrals to law enforcement
or governmental authorities, employee
communications, additional training, control
enhancements, and changes to Citi policies,
business processes and procedures.

Assessing Our Culture of Ethics

Building Equitable & Resilient Communities

To reinforce how raising concerns leads tomeaningful action within Citi, the Citi Ethics
Office annually provides all employees witha summary of the types of concerns received by
the Citi Ethics Office, including those resulting
in corrective actions.

Spotlight on Ethics
Through this quarterly communication toemployees, we continue to share the resultsof Ethics Office investigations, to reinforce to
our workforce that concerns are investigated
and to highlight commonplace areas where
ethical lapses can occur. The Spotlight includes
corrective actions that resulted from described
Ethics Office investigations to again reinforce
that speaking up leads to meaningful action.

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

reported a violation or were involved in an investigation are subject to disciplinary action, up
to and including termination of employment orother relationship with Citi.

Risk
Management
We employ robust policies and practices
to detect and prevent corruption, address
potential environmental and social risks in our
portfolio, and safeguard data and customer
privacy. These rigorous practices enable us togrow a successful, respected business thatdelivers the best possible results for our clients,
customers and communities.

Managing
Corruption and
Tax-Related Risks
Anti-Corruption Activities
The Citi Global Financial Crimes ComplianceTeam includes the Global Financial Crimes
Investigations and Intelligence (GFCII),
Anti-Bribery and Corruption, Anti-Money
Laundering (AML) and Sanctions teams. Our
Chief Compliance Officer, who reports directly
to our General Counsel, provides regular
reports on our performance in these areas, toour Board of Directors or a committee of theBoard, as appropriate.

Appendices
Responsible Sourcing

Our GFCII team works to prevent, identify andcounteract the many and varied corruptionrelated risks that confront the financial sector.
Select examples of our partnerships in 2022
include:• United for Wildlife: Citi works withgovernment agencies and nongovernmental organizations (NGOs) alongsideother financial institutions to help fightillegal wildlife trafficking. We participate in
the financial taskforce as well as regional
chapters in East Africa; the Middle East andNorth Africa; North America; and Hong Kong.
In 2022, we worked through the Hong Kong
chapter in support of legislation that elevates
wildlife-related trafficking to a serious crimeand helped develop a financial sector toolkit
and threat profile for the region.

• Trust in Business Initiative: In 2022, Citi
joined global leaders from the private
and public sectors to discuss and provide
feedback on the Organisation for Economic
Co-operation and Development’s (OECD)Infrastructure Anti-Corruption Toolbox,which is designed to build trust and accountability in infrastructure.

• Additional activities: During the year, we
engaged multiple nonprofits and NGOs
to combat financial crime, including thePolaris Project, Survivor Inclusion Initiative,
DeliverFund, the International Centre for
Missing & Exploited Children’s Financial
Coalition Against Child Sexual Exploitation,
the Royal United Services Institute’s Future of
Financial Intelligence Sharing program and theUnited Nations Office on Drugs and Crime.

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Climate Risk & Net Zero

Sustainable Operations

Transforming Our Risk and Controls Environment

Building Equitable & Resilient Communities

Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

Appendices
Responsible Sourcing

Taxation Policies and Standards

Programs and Training to Combat Financial Crimes
ANTI-BRIBERY AND CORRUPTION PROGRAMSANCTIONS PROGRAM

Citi has policies, procedures and internal controls to comply with
anti-bribery laws, and we conduct an annual bribery risk assessmentof all global business lines. We provide our staff with anti-bribery
training annually and supplement it with targeted training andcommunications as needed. For more information, see the Citi
Anti-Bribery and Corruption Program Statement, which is updated
at least annually.

Citi is obligated to comply with applicable sanctions, laws andregulations in the countries where we operate and maintains a robust,risk-based Sanctions Program that applies globally. Our Sanctions
Program includes enterprise-wide controls, reasonably designed
to comply with applicable sanctions laws and regulations and iscomprised of a diverse team of Compliance professionals stationed
around the world.

ANTI-MONEY LAUNDERING (AML) PROGRAM

For more information on our Financial Crimes programs, please see
our Code of Conduct.

Our AML Program helps protect our clients, our franchise and theglobal financial system from the risks of money laundering andterrorist financing. The global program consists of designated
AML Country Officers covering every Citi business, function andgeographic area. These specialists partner with various functions,
including Compliance, Audit, Technology and our institutional andconsumer businesses, to provide effective enterprise AML risk
management and to meet our AML-related requirements at both
the global and the local levels. For more information, visit our AML
Program website.

GLOBAL FINANCIAL CRIMES INVESTIGATIONSAND INTELLIGENCE (GFCII)
GFCII, a part of our Compliance function, provides a globally consistent
approach to the prevention and detection of risk. GFCII works withlaw enforcement, nonprofits and internal stakeholders to proactively
identify illicit activity and work to mitigate risk. This connectivity
results in the execution of a data-driven global strategy addressing
emerging risk trends and typologies across business lines andgeographies.

Number of Employees and Contingent Workers
Who Completed Our 2022 Financial Crimes
Compliance Training (by Region)*

71,66728,957

North America

Europe, Middle East
and Africa

45,056
Latin America

69,185Asia PacificCiti does business in nearly 160 countries andjurisdictions, and maintains strong review andescalation processes that enable us to adhere
to high standards of compliance with applicable
tax laws. We are a current income taxpayer,
both within and outside the U.S. Our tax profile
is consistent with the locations of our business
operations, and we adhere to OECD standards
regarding substance and transparency.
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.1 Tax management isoverseen by our Chief Tax Officer, who reports to
the Chief Financial Officer. It is reviewed with the
Audit Committee of the Board of Directors.
For client-related tax matters, Citi maintains astrong system of controls to support reporting
and withholding requirements. We have systems
and processes to comply with the Foreign AccountTax Compliance Act and the Common ReportingStandard in all applicable countries where local
implementing guidance has been issued. Similarly,
we have firm-wide requirements applicable tocustomer transactions, under which Citi will
only engage in transactions where there is a highdegree of confidence that the tax aspects will be
accepted by the respective taxing authorities.
For more information on how taxation impacts
Citi, see page 185 of our 2022 Form 10-K.

* This combined online training incorporates multiple anti-corruption efforts, including AML, sanctions and anti-bribery training. Numbers include all Citi staff who had completed the 2022 training as of December 2022.
(Employees and contingent workers generally have 30 days to complete it.)
1 Citibank Europe Plc, Country by Country Reporting YE 2021, https://www.
citigroup.com/rcs/citigpa/akpublic/storage/public/CEP_2021_CRD_
Article89.pdf

Citi 2022 ESG Report

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Public Policy
The potential impact of public policy on
our business, employees, communities andcustomers is why Citi works to advance andprotect the global business interests of ourcompany directly and indirectly, throughengagement with trade associations, governments and elected officials around the world.
Citi advocates for public policies that support
the interests of our company, clients, shareholders and employees, such as trade andinvestment proposals involving sanctions
and cybersecurity. Guided by our Political
Engagement Statement, company politicalactivities are performed in compliance withapplicable laws and regulations.
Under U.S. Federal Election Commission rules,
Citi’s Political Action Committee (Citi PAC)
pools the voluntary contributions of eligible
employees to support U.S. political candidates
and campaigns that support the financial
industry and complementary pro-business
policies. Our bipartisan Government Affairs
team and the Citi PAC Board consider whether
contributions meet our criteria.

Ethics and Culture at Citi

Safeguarding Data
and Protecting
Customer
Information
As digital solutions expand and become
more integrated into our daily lives, we see
increasing concerns related to privacy andsecurity 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 are in place toprotect Citi’s and our clients’ assets and information, with end-to-end accountability acrossthe firm. Our strategy incorporates architecture,technology, tools, policies and processes toprevent, detect, respond to and recover fromcyber threats quickly. Learn more about theelements of our cybersecurity program on thefollowing page.

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.

Citi 2022 ESG Report

Building Equitable & Resilient Communities
Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

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 thecompany. Our privacy management efforts
receive additional oversight from the Citi
Privacy Advisory Council, which consists ofexecutive privacy officers and privacy and risk
management leaders from across the firm. The
Council provides direction, addresses escalated
concerns and helps drive progress in this area.
Citi has also appointed a Global Chief PrivacyCounsel within the General Counsel’s Office.
The Global Chief Privacy Counsel leads a global
team that provides legal guidance and strategic
direction regarding privacy and data protection
laws to the Chief Privacy Office and tobusinesses and functions across the enterprise.
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 asnecessary for the performance of the services
offered and for the purposes disclosed. Citi
is transparent about personal informationcollection and use practices, and offers
customers choices about how their personal
information may be collected or used (asrequired by law), including choices relating tomarketing or reviewing and correcting information. Citi employees are required to takeannual privacy compliance training that covers
these privacy concepts.

Appendices
Responsible Sourcing

Protecting Digital Identity
Verifying our customers’ identity is fundamental to safeguarding their financial assets
and protecting their privacy. Our aim is todeliver solutions that provide seamless,intuitive interactions with digital tools that will
not compromise personal data. We provide
ongoing training for our employees throughdigital identity learning packs that help build
awareness of, and skills related to, new digital
identity technologies. In addition, we engage
with clients, partners and industry experts todiscuss the trends, challenges and opportunities related to digital identity and to explore
technologies that have the potential to meet ourcustomers’ needs.
We also provide customers with resources andinformation related to safety and security. Our
U.S. online Security Center enables customers
to learn about what Citi does to protect themand what 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 and digitalassets amid sustained interest from clients andinvestors. We carefully evaluate the evolving
regulatory landscape and associated financial
and non-financial risks to ensure we meetboth our own regulatory frameworks and supervisory expectations.

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Risk Management

Talent & DEI

Appendices

Responsible Business

Human Rights

Serving Our Customers and Clients Responsibly

INDUSTRY LEADERSHIP• Oversight from our Board of Directors

COMPREHENSIVE APPROACH TOCYBERSECURITY BREACHES• Regular reviews by regulators and byinternal and external auditors• Regular risk assessments and internal
controls to defend against breaches• Globally managed by the Chief
Enterprise Operations & Technology
Officer and the Chief Information
Security Officer• Technology and cybersecurity policies
based on established industry standards

Responsible Sourcing

Key Elements of Our Cybersecurity Program
PROGRAM GOVERNANCE• Robust technologies to protect data andsystems, supported by a strong teamwith deep expertise from industry andgovernment• Chief Executive Officers of eachbusiness sector and region are
responsible for implementationand compliance with program
requirements• Secure networks to protect systems anddatabases, and continuous improvementof capabilities to meet the challenge ofan evolving threat environment

SECURE SOLUTIONSTHIRD-PARTY CERTIFICATION
Certified compliance with the ISO 27001
standard for our global information
security and technology infrastructure
programs

TRAINING
Training provided annually to employees
on how to properly handle and maintainthe security and privacy of Citi’s and ourclients’ assets and information

Citi 2022 ESG Report

Investment in and development ofadvanced security solutions to safeguard
information:• A multifaceted approach to move toward
password-less capabilities, including
biometric options such as voice recognition or fingerprints• Next-generation security componentsthat support digital and mobile growth,by enabling enhanced security features
for our mobile applications• Advanced technology for improved
cyber incident monitoring, detection
and response capabilities

In the event of a potential breach, we havea robust process to ensure appropriate
reporting and notification, which includes:• Reviewing the breach to determine
whether it meets any regulatory or legal
reporting requirements in the jurisdiction(s) where the breach occurred orin the jurisdiction(s) impacted by thebreach. If deemed necessary, a legal
assessment is conducted.

• Working with our clients, peer financial
institutions, governments, law enforcement
and intelligence agencies on a global scale toenable the collective security of the financial
services sector through:• Sharing best practices• Exchanging tactical information about
specific cybersecurity threats• Conducting joint cyber resilience exercises• Driving adoption of industry-widestandards and approaches• Receiving and sharing threat data with ourpartners in near real time, and leveraging
that information to strengthen our internal
controls and practices and to protect Citifrom attacks perpetrated against other firms• Fostering a culture of sharing among
competitors on security issues for the sakeof strong information security practices• Notifying the impacted customers as
required by the laws or regulations of the
impacted jurisdiction(s) and as directedin the legal assessment, if it results ina requirement to perform customer
notifications.

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Environmental
and Social Risk
Management

Ethics and Culture at Citi

The Risk Management Committee of our Board of
Directors provides oversight in the area of climate
risk and reviews and approves key risk policies,
including those focused on environmental andsocial risk.

Our ESRM Policy
Our ESRM Policy guides our approach to engaging
with clients to help us responsibly mitigate
environmental and social risks in our financing.
We established the Policy in 2003, and wecontinue to evolve our approach in response to
emerging risks. For example, in 2022, we updated
our ESRM Policy to outline our expectations in
the Agribusiness sector in sensitive ecoregions(see following page).
The ESRM Policy covers a broad scope of financial
products and client sectors and guides how weassess client impacts and associated risks related
to air quality, water quality, climate change, biodiversity, local communities, labor, human rights
and other environmental and social issues. Ourpolicies and procedures reference international
industry standards, such as the International
Finance Corporation’s Environmental and Social
Performance Standards; the World Bank Group’s
Environmental, Health, and Safety Guidelines;
the Roundtable on Sustainable Palm Oil; and theForest Stewardship Council.
Under our ESRM Policy, Citi screens for environmental and social risks in project-relatedtransactions and clients subject to ESRM
sector-specific requirements. In addition, thePolicy includes Areas of High Caution, which
identify flags for heightened risk factors to
escalate to the specialized ESRM team for review
regardless of financial product or sector.

Citi 2022 ESG Report

Building Equitable & Resilient Communities

ESRM TRAINING
We offer three web-based training modules
for employees globally to raise awareness on
the scope of our ESRM Policy, with additional
training on use of proceeds transaction
requirements and ESRM Sector-Specificrequirements. In addition, we offer customized virtual or in-person trainings covering
topics such as environmental and social
risks relevant to certain regions and sectors,
implementation of the Equator Principles andour Sector-Specific requirements, as well
as specific topics such as human rights andbiodiversity.

Policy Implementation
Our 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 firmwith colleagues in banking, credit risk, climate risk,
risk and controls, and regulatory teams, among
others, to share ESRM subject matter knowledge
and learn from internal expertise. We provide
ESRM training to key risk and banking personnel
globally, to help them identify potential risks andopportunities to engage with our ESRM specialist
team more effectively.

Risk Management

Human Rights

Talent & DEI

Appendices

Responsible Business

Serving Our Customers and Clients Responsibly

Responsible Sourcing

ESRM Policy at a Glance
Environmental and Social Policy
Framework: The ESRM Policy issummarized publicly in our Environmental
and Social Policy Framework, which
includes the following:

Our ESRM Sector Approaches apply
sector-specific review requirements forcertain clients in sensitive sectors• Agribusiness• Military Equipment• Scope of our ESRM Policy• Coal Mining• Mining• Transaction types that trigger a review• Coal-Fired Power • Oil and Gas• Detail about risk-screening practices
and categories, independent reviews andaction plans• Firearms• Overviews of our Areas of High Caution,
sector-specific approaches and policy
prohibitions

ESRM Policy scope: A transaction or client
relationship may trigger the ESRM Policy forthree reasons:
1

Transactions with use of proceeds
directed to a specific physical asset or
project

2

Clients in sectors consideredparticularly high-risk by Citi

3

Clients/transactions with impacts
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.

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

If a transaction impacts any of thefollowing Areas of High Caution,
ESRM will conduct enhanced due
diligence:• Conflict risk
• Indigenous rights• Critical habitat and cultural
heritage• Human rights, including environmental justice• Involuntary resettlement

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Ethics and Culture at Citi

SECTOR APPROACH FOR AGRIBUSINESSFor several years, Citi has been monitoring andanalyzing risks associated with the Agribusiness sector (including deforestation, decreased
climate resilience, biodiversity loss and risks
to the rights of Indigenous Peoples), as well as
increasing our due diligence in this area andengaging with stakeholders regarding theirconcerns. We updated our ESRM Policy in 2022
after conducting a portfolio review of our agribusiness clients with a focus on the impact of
deforestation in sensitive ecoregions and related
reputation risk.
Our recently established Agribusiness Sector
Approach includes new requirements for the
Soy sector (including producers, processors
and traders) and Beef sector (including cattle
ranchers, slaughterhouses and processing
facilities) in sensitive ecoregions. As a part of thisESRM Policy update, we will review beef clientsthat are producing in or sourcing from sensitive
ecoregions, to confirm they have policies andmanagement plans that demonstrate commitment to 100% traceability of their supply chain
in these sensitive regions, with consideration ofinternational norms and industry best practices.
Soy clients producing in or sourcing from sensitive
ecoregions will be evaluated against the Round
Table on Responsible Soy requirements.

Citi 2022 ESG Report

Building Equitable & Resilient Communities

The Agribusiness Sector Approach also includes
our previous Sector Approaches for Forestry andPalm Oil, which we updated to include downstream processors, refiners and traders in thepalm oil industry. We review our forestry andpalm oil clients annually to confirm their ongoing
management practices, including management
systems consistent with the principles of No
Deforestation, No Peat and No Exploitation. We
also evaluate our palm oil clients’ identificationand preservation of high-conservation areas(including peatlands and high-carbon-stock
forests) and implementation of best practices forfire prevention.
Our ESRM Policy approach to the Agribusinesssector refers to relevant independent certifications, such as the Forest Stewardship Council,
the Roundtable on Sustainable Palm Oil and theRound Table on Responsible Soy, that emphasize
practices to reduce deforestation.
This updated standard will help us more effectively
identify biodiversity risks and avoid deforestation
risks, as well as mitigating associated risks related
to climate and to Indigenous Peoples.

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

When the viability of a deal is first explored, our
ESRM team works with Citi bankers to evaluate
the magnitude of the potential environmental
and social impacts associated with the transaction and to determine what action, if any, isneeded to comply with our ESRM Policy prior
to final approval of the transaction. If, during
our initial screening for a transaction, we find arisk of adverse impacts, we conduct enhanced
due diligence, and we evaluate the client’s
commitment and capacity to avoid, mitigate
and/or manage those impacts in accordancewith international industry best practices andthe client’s willingness to improve.
Our project-related financing aligns with the
Equator Principles, including the incorporation of
relevant assessments, covenants and monitoring.
Higher-risk, project-related transactions receive
in-depth reviews by independent environmental
and social consultants to benchmark againstinternational standards. If gaps are foundAppendices
Responsible Sourcing

between a client’s environmental and social
plans, policies or practices and the expectations outlined in our ESRM Policy, we require thedevelopment 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, often using an independent consultant to
conduct on-the-ground audits and report backto lenders.
These loan covenants are binding requirements, which include commitments to comply
with laws and regulations as well as specificactions outlined in the ESAP. If a client is not incompliance with the environmental and social
covenants, Citi will work with the client on
remedial actions to come back into compliance.
See the appendix of our Environmental andSocial Policy Framework for more information
about the steps in our risk-screening process for

Escalation of High-Risk Transactions and Clients
The first step in ESRM analysis of a transaction isto 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 haveappropriate policies and practices to avoid or
mitigate potential impacts in line with ESRM
Policy requirements, 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 therisks and the client’s commitment and capacity
to manage and mitigate those risks. Citi may
decline to move forward with a transaction after
escalated consideration, or we may decide that
we can move forward subject to certain explicit
conditions for the client to meet in order tomanage those risks appropriately.
In severe circumstances, where risks arise inexisting client relationships to an unacceptablelevel and cannot be mitigated, we may end theclient relationship.

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project-related finance transactions, from initial
identification of business opportunities throughongoing monitoring and supervision.
In addition, for non-project related transactions where risks have been flagged for ongoing
monitoring, our ESRM team uses annual client
credit reviews as touchpoints to assess progresson environmental and social issues.
Applying our ESRM Policy helps us to identify
risks beyond traditional credit risks, guides how
we evaluate transactions related to companies
or projects in high-risk sectors and presents
opportunities for us to engage with clients on
industry good practice used across their sector.
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 avariety of factors, including increased interest
from regulators on ESRM-related issues, thegrowth in ESG-related financial products
and greater engagement across the firm as
employees receive additional training andbecome more aware of the potential environmental and social risks in the transactions they
are managing. The ESRM team partners withinternal colleagues across the firm to respondto the increasing attention and concern related
to environmental and social issues.

Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

Appendices
Responsible Sourcing

ADDRESSING POTENTIAL
ENVIRONMENTAL AND
SOCIAL RISKS RELATED TO A
HYDROPOWER PROJECT
Hydropower can support climate change
reduction goals. However, the developmentof new hydropower infrastructure can also
have environmental and social risks. In 2022,
Citi helped finance a new hydropower transmission line in North America. We undertook
comprehensive ESRM reviews as part of our
financing decision process.
Our role: Citi is one bank in a larger syndicate providing funding for this project.
Environmental and social concerns: Risk
management issues included biodiversity
concerns, preservation of watersheds andwaterways and impacts on Indigenous
Peoples.
Due Diligence: The banking syndicate fully
applied the Equator Principles (EP) process,including engaging a consultant to complete
independent environmental and social due
diligence, including an EP climate change
risk assessment for the transmission line
and a human rights impact assessment for
affected Indigenous Peoples, as well as an
ESAP to detail additional actions needed tomitigate impacts over the life of the loan.
Risk mitigation: Examples of ESAP items
include requirements for the project sponsor
to protect marine fauna habitat and establish a fund for biodiversity restoration.

Citi 2022 ESG Report

Building Equitable & Resilient Communities

Biodiversity Loss: A Growing Risk
Climate and biodiversity are deeply interconnected, and there is an increasing awareness that climatechange, along with other human-caused stresses on natural systems, is contributing to biodiversity
loss and ongoing extinction events.
We remain committed to expanding our understanding of the dynamics between climate and biodiversity and, to that end, engaged in the early development process for the Taskforce on Nature-related
Financial Disclosures (TNFD) as a member of the initial Informal Working Group. We now serve as amember of the TNFD Forum.

Analysis of Current andEmerging Risks
The ESRM team uses a number of methods toproactively scan the evolving risk landscapefor new, emerging risks, as well as risks withincreased prominence and prevalence. Throughinternal research, collaboration with others in
our industry and the use of third-party environmental and social data, we monitor relevant
developments in high-risk industries and stakeholder concerns to flag emerging issues.

Proactive monitoring helps us identify issues
and the interrelated impacts of various sectors,
so we can be responsive to evolving risks, raiseawareness within Citi about emerging issues
and identify clients that may be impacted
for further engagement. For example, weare tracking emerging risks associated withincreased mining of metals and minerals
needed for electrification, which is importantin facilitating the low-carbon transition. While
increasing the availability of these “transition
minerals” is important, it can be associated with

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environmental and social risks, including labor
concerns and impacts on water and biodiversity.
See the Human Rights section for a related
example of our due diligence for a client in the
gold-mining industry.
We also conduct sector-specific reviews to
identify and mitigate emerging risks in our
existing portfolio. This process enables us tobetter understand how our clients manage
environmental and social issues and provides
valuable insight into the level of related risk
across our portfolio.

Engagement
Client Engagement
Ongoing engagement with our clients is an
important part of our ESRM process. When we
first established our ESRM policy, our engagements were tied to specific, project-related
financial transactions and their associatedenvironmental and social risks and mitigation
efforts. However, as we have developed Sector
Approaches and Areas of High Caution over theyears, we have added corporate-level reviews
and client engagements in a number of sectors.
These sector-specific risk review processes
encourage dialogue between Citi and our clients
about the material environmental and social risks
associated with their operations, enabling us
to develop a better understanding of prevailingindustry practices and our clients’ performanceand to work with our clients toward moresustainable practices, as needed.

Citi 2022 ESG Report

Building Equitable & Resilient Communities

Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

Appendices
Responsible Sourcing

Our ESRM team collaborates with our
Sustainability and Corporate Transitions teamto engage with clients working to transition
toward more sustainable strategies and businessmodels. This provides opportunities for in-depth
discussions of specific sustainability topics,
identifies ways of proactively mitigating environmental and social risks, and supports our clientsin their efforts to build a more sustainablebusiness. The breadth and depth of our ESRM
team’s knowledge in these areas is a valuable
tool to help us assess new transactions and toadvise our clients as we collectively work towardachieving our decarbonization strategies. For
more information about the work Citi is doing tohelp clients transition to a low-carbon future, see
the Financing the Low-Carbon Transition section.
Industry Engagement
We participate in many environmentally andsocially focused multistakeholder initiatives
and organizations, such as the Roundtable on
Sustainable Palm Oil and stakeholder reviewof the TNFD (see Biodiversity Loss: A GrowingRisk). We are a founding signatory of the Equator
Principles Association, and we rejoined the
EP steering committee in 2022 as the North
America representative.

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Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Appendices

Responsible Business

Serving Our Customers and Clients Responsibly

Responsible Sourcing

2022 Projects Covered by the Equator Principles
As part of our commitment to the Equator Principles (EP), we report annually on our implementation.

A

B

C

Category A — Projects likely to have potential
significant adverse social or environmental
impacts that are diverse, irreversible orunprecedented
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

Funded EP
Project Finance
Loans

Funded EP
Project-Related
Corporate Loans

0
4
1

2
2
1

Total = 5

Total = 5

Citi 2022 ESG Report

FUNDED PROJECT FINANCE LOANS BREAKDOWNFUNDED PROJECT-RELATED CORPORATE LOANS BREAKDOWN

By Sector

A

B

C

Total

By Sector

A

B

C

Total

Infrastructure

0

1

0

1

Power

1

0

0

1

Oil and Gas

0

1

0

1

Other

1

2

1

4

Power

0

2

0

2

By Region

A

B

C

Total

Other

0

0

1

1

U.S. and Canada

0

1

0

1

By Region

A

B

C

Total

Latin America

1

1

0

2

U.S. and Canada

0

4

1

5

Europe0000Latin America

0

0

0

0

Middle East and Africa

1

0

0

1

Europe0000Asia Pacific

0

0

1

1

Middle East and Africa

0

0

0

0

By Country Designation

A

B

C

Total

Asia Pacific

0

0

0

0

Designated*

0

1

0

1

Non-designated**

2

1

1

4

By Independent Review

A

B

C

Total

Yes

2

1

1

4

No

0

1

0

1

By Country Designation

A

B

C

Total

Designated*

0

4

1

5

Non-designated**

0

0

0

0

By Independent Review

A

B

C

Total

Yes

0

4

1

5

No

0

0

0

0

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 2022.
*D esignated Countries as defined by EP are high-income OECD countries. See the Equator Principles website for more information.
** Non-designated Countries as defined by EP are all non-OECD countries and all OECD countries not designated as high income.

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Sustainable Operations

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Building Equitable & Resilient Communities

Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Appendices

Responsible Business

Serving Our Customers and Clients Responsibly

Responsible Sourcing

ESRM Consultation Data
The ESRM team is consulted in the early stages of potential transactions, as wellas during select annual credit reviews in higher-risk sectors or clients. The dataon this page show the total transactions and client relationships screened by the
ESRM team, regardless of whether a transaction proceeded to financial close.

ESRM CONSULTATIONS

1,229
1,135

BY REGION

235

U.S. and Canada

254
Latin America

140

192

EuropeGlobal(multiple regions)

74

334

Middle East
and Africa

Asia Pacific

1,2292022 Total

For more information on our ESRM Policy, visit our Environmental and Social
Policy Framework.

608
601
 SRM policy due diligence
E
Flagged for additional ESRM due
diligence under ESRM Policy triggers
New transactions

131
141
258

Sustainable finance products
Green bonds, sustainability-linked
bonds or loans etc.

266

127
2021

Citi 2022 ESG Report

Annual reviews

BY SECTOR
56

A gribusiness39	Infrastructure andTransportation
17	Manufacturing
and Industrials

232
2022

Low risk
Low risk or not subject to ESRM
Policy —­ no further due diligencerequired

200 Metals and Mining
247 Oil, Gas and Petrochem
80	Power(Including Renewables)
100 Other

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Human
RightsOur Commitment
to Respect Human
RightsWe are committed to respecting human rights
wherever we do business. We engage with arange of 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 inline with the UN Guiding Principles on Businessand Human Rights — a global framework forpreventing and addressing the risk of adverse
impacts on human rights linked to businessactivity. The UN Guiding Principles draw upon
existing international human rights instruments whose principles Citi has endorsed,
such as those in the UN Universal Declarationof Human Rights and the International Labour
Organization’s (ILO) Core Conventions.
During the development and subsequent
updates of our Statement on Human Rights,
we engaged internal and external stakeholders
to help assess our actual and potential humanrights impacts and to identify the most salient
human rights risks faced by our employees,
workers connected to our supply chain andindividuals who might be affected by our clients’operations.

Citi 2022 ESG Report

Building Equitable & Resilient Communities

Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

Appendices
Responsible Sourcing

Our Environmental and Social Risk Management(ESRM) Policy guides our approach to assessing
environmental and social risks related tofinancing our clients’ business activities. Learn
more about our commitment to human rights
and our approach to human rights protections:• Citi Statement on Human Rights• Environmental and Social Risk Management
section• Environmental and Social Policy Framework• UN Guiding Principles Reporting Framework
Index

Our Salient Human Rights Risks
Citi has spent more than a decade seeking
to understand and mitigate the most salient
human rights risks related to our business,
including the activities of our clients and otherbusiness partners.
The most severe potential human rights risks
posed by our clients’ activities, particularlyin the context of project-related finance, areidentified under our ESRM Policy. Althoughproject finance gives us the most insight
into specific project details and ability to use
environmental and social loan covenants,
we also screen for human rights risks andengagement opportunities in other typesof corporate financing covered by our ESRM
Policy and in targeted ESRM portfolio reviewsof high-risk sectors or geographies. In addition,
we identify and address salient human rights
risks that could arise in other areas of our value
chain, such as our supply chain, our workforce
and our consumer banking activities. For a fulllist of our salient human rights risks and thestakeholders they may impact, see the table on
the following page.

EMPLOYEE TRAINING
Human rights content is integrated into thetraining we provide for the employees responsiblefor implementing our ESRM Policy and in our
Code of Conduct training, which is required of all
employees. We also provide employees who areresponsible for procurement and supply chain
activities with a comprehensive training moduleon modern slavery.
In 2022, we began developing global training tohelp us standardize risk screening related to humanrights across our banking functions, throughgreater understanding of salient human rights risks
and information about when to escalate those risks
to our centralized ESRM team. During the year,
we also worked with one of our partners to adapt

training developed in cooperation with the UK
Anti-Slavery Commissioner for specific use with
our UK employees, given the Modern Slavery Act
legislation in that country. This training focuses on
the role of financial services in eradicating modern
slavery and the processes and controls Citi has inplace to identify related risks. We made this training
available to all employees in the UK in early 2023.
We also provided the Boards of Directors of two
primary UK subsidiaries (Citigroup Global Markets
Limited and Citigroup UK Limited) with a tutorial
on human rights and modern slavery. Due to similar
Modern Slavery Act legislation in Australia, Citi
is working with the same partners to adapt thetraining for employees in that country.

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Risk Management

The UNGP Reporting Framework refers to a company’s “salient” human rights issues as those that are at risk ofthe 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 we have identified as most salient toour company. Shaded rows indicate risks related to the Areas of High Caution defined in our ESRM Policy.

Adequate standard of living; right toproperty
Conflict risk
Environmental justiceDiscrimination in the provision offinancial services
Diversity and inclusion; discriminationin the workplace
Indigenous Peoples
Information security; privacy
Labor practices (including modern
slavery)

Citi Employees

Suppliers’
Employees

Customers andClients

Appendices

Responsible Business

Serving Our Customers and Clients Responsibly

Responsible Sourcing

RESPECTING THE RIGHTS OF INDIGENOUS PEOPLES

Salient Human Rights Risks: Stakeholder Impacts

Human Rights Risks

Human Rights

Talent & DEIThose Affectedby Clients’
Operations

Citi has recognized the rights of Indigenous Peoples as an Area ofHigh Caution under our ESRM Policy since 2008. This designation
provides special attention, focus and respect within our due diligencepractices. For more information about this Area of High Caution, see
our Environmental and Social Policy Framework.
In 2022, Citi established a new Sector Approach for Agribusiness. Citi
has a long-standing ESRM Sector Approach for our clients in the Palm
Oil and Forestry industries. In 2022, we expanded this standard to coverdownstream palm oil processors, refiners and traders, and the soy andbeef production and supply chains in sensitive ecoregions across Latin
America. Among other things, this updated Sector Approach helps
us to more effectively evaluate these clients’ respect for the rights ofIndigenous Peoples.
When agribusiness activities overlap with Indigenous Peoples’
territory or traditional lands, this can lead to conflicts and the needfor companies to seek free, prior and informed consent for Indigenous
Peoples. As part of our updated Sector Approach, agribusiness clientsthat operate in or source from sensitive regions are evaluated against
independent certification from industry organizations — specifically the Roundtable on Sustainable Palm Oil, the Round Table on
Responsible Soy and the Forest Stewardship Council — or, in the caseof the beef industry, clients are evaluated against the Accountability
Framework. These external certifications and standards require thatcompanies have processes that ensure free, prior and informed consent
for Indigenous communities, among other environmental and social
principles and criteria. Certified companies are evaluated by a thirdparty auditor on an annual basis to ensure continued compliance.

Resettlement
Security practices

Citi 2022 ESG Report

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Respecting the
Human Rights of
Our Employees
Citi has identified workplace discriminationand threats to diversity and inclusion as salient
human rights risks for our company. As such,respect for diversity and inclusion is a highpriority wherever we operate. It can becomea particular concern in countries where there
is no legal protection against discrimination
based on 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 harassmentof our employees in all forms, regardless ofwhether or not individual protections are legally
mandated in the countries and communities
where we operate. In fact, we know that even inlocations with anti-discrimination laws, there is
still a need for companies to ensure that they are
doing their part to respect individual rights.
We expect every Citi employee to adhere to our
Code of Conduct, which includes a commitment
to human rights, and to participate in relevant
training. Our Code of Conduct prohibits
unlawful discrimination, harassment and otherbehavior that infringes on individual rights.
As stated in our Code of Conduct, Citi expects
all employees, as well as suppliers, clients andcommunity partners globally, to respect theCiti 2022 ESG Report

Building Equitable & Resilient Communities

Ethics and Culture at Citi

principle of nondiscrimination. Learn more
about our diversity, equity and inclusion efforts
for employees in the Talent and Diversity, Equity& Inclusion section.

Freedom of Association
Citi has employees who are represented byunions and works councils in a number ofcountries where we operate. In addition, a
portion of our employee population is coveredby collective bargaining agreements. We engage
directly with our employees and through theseassociations to discuss issues such as healthand safety, remuneration, work hours, training,career development, work time flexibility andequal opportunity. Information related to
freedom of association is communicated to
employees through various mediums, including
employee handbooks, our intranet andemployee emails.

Respecting Human
Rights in Our
Financing Decisions

Risk Management

Human Rights

Talent & DEI

Serving Our Customers and Clients Responsibly

We have established policies and practices that
help us consider the respect of human rights.
For example, our anti-money laundering policies
and practices support our ability to avoid
business transactions with potential adverse
impacts on human rights. However, there aretimes when the link is less direct between our
financial services and human rights impacts.
In these instances, we work to improve ourclients’ awareness and business practices. In
addition, where a transaction’s financial andlegal structure allow it, and Citi has identified
a concern, we may put loan covenants in placeand monitor mitigation efforts through our
ESRM systems and corrective action plans.
Human rights concerns related to a particularclient or transaction may be escalated to thespecialist ESRM team for review and consultation, regardless of sector or financial product.
Our ESRM team may further escalate humanrights risks identified to relevant reputation riskforums, which might include Reputation Risk
teams, relevant regional or global committees,or a designated human rights working group or
task force.

Appendices

Responsible BusinessResponsible Sourcing

DISCLOSURES RELATED TO
MODERN SLAVERYOur ESRM Policy prohibits financing any
project for which our due diligence identifies
the use of forced labor, harmful or exploitative child labor, or when the relevant labor
forces have been subjected to human trafficking. Each year, we disclose our approach
to identifying and mitigating the risks ofmodern slavery in our operations (including
client transactions) and in our supply chain.
These disclosures, for the UK and Australia,
cover information about our governanceand policies related to modern slavery, risk
assessment and due diligence processes,
and training.

Effectively evaluating human rights risks related
to our clients and the projects we finance is asensitive and important challenge. We work
diligently to meet this challenge and respecthuman rights.

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Appendices
Responsible Sourcing

Human Rights Due Diligence in Action
GENERAL CORPORATE PURPOSES FINANCE
IN THE MINING SECTOR

ARTISANAL SMALL-SCALE MINING IN CENTRAL
AND WESTERN AFRICA

Along with several other banks, Citi is providing financing
for a gold-mining company in a non-OECD country. Thisfinancing is not tied to a specific project, but rather will be
used for general corporate purposes, including working
capital and operational expenditures. Understanding andworking to mitigate potential human rights concerns in thiscompany’s operations has been an important element of
our financing decision process.

The mining sector in this region is prone to increased human rights risks as aresult of informal artisanal small-scale mining (ASM) operations. This kind ofmining is typically unmechanized and often occurs without proper permits orsafety standards. Because ASM is frequently performed by untrained laborers
in areas with high unemployment and poverty, many people are put in harm’s
way even as they depend on ASM for their livelihoods.

• Our role: The Citi ESRM team proposed including an environmental and social requirement to the loan agreementthat would provide a framework for the client to bring its
management systems into alignment with international
standards and guide future engagements should
opportunities for additional financing arise.
• Human rights concerns: Potential risks identified throughdue diligence included worker safety due to a lack of proper
personal protective equipment, unclear management
practices related to the use of hazardous chemicals, andconcerns about inadequate water management andimpacts to local waterways.
• Due diligence and risk mitigation: In response to requirements from the lending institutions that the company
align with international standards as a condition for
financing, the company agreed to hire an independent
consultant to benchmark its procedures and policies
against the International Cyanide Management Code andthe Responsible Gold Mining Principles. The consultant
was tasked with developing a timebound action plan
for alignment, which will inform ongoing monitoring anddue diligence.

Citi 2022 ESG Report• Our role: While Citi does not directly finance ASM operations, our mining
clients may be exposed to ASM activities on or near their mine sites. Our
risk-screening practices help us to identify geographies that require additional due diligence to identify any risks of ASM occurring on our clients’mining sites, which further led us to engage with our mining clients tounderstand how they protect against the risk of ASM and ensure that thehuman rights of those in local communities are being respected.
• Human rights concerns: Potential risks include security, health and safety,
and child labor.
• Evolving industry good practice: We are seeing a trend among our clients
toward maturing practices in this area, specifically related to community
engagement and additional oversight of ASM activities, rather than outrightprohibition. Many legitimate mining companies are working to formalize
previously informal, unsafe and potentially illegal ASM operations thatwere occurring within or adjacent to their official mining concessions. This
formalization will establish more oversight to protect human rights and makethe mining activities safer. In addition, these established mining companies
are engaging with local communities to shift reliance away from unsafe
ASM operations toward agricultural programs and to support educational
programs for children as an alternative to working in the mines.
• Due diligence: By conducting due diligence on this risk, we emphasize to ourclients the importance of evaluating all the human rights risks within theirown operations and encourage them to learn from evolving good industry
practice to work with local communities on safe work environments andalternative job opportunities.

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Due Diligence in Client
Transactions
Citi has thousands of corporate and institutional
clients. The UN Guiding Principles acknowledge
the challenges presented by extensive business
relationships, and we have adopted theapproach set out in the UN Guiding Principles ofprioritizing our due diligence and risk mitigation
first in areas where the risk of adverse humanrights impact is most significant from theperspective of the people who may be affected.
We use our ESRM Policy and review process
to screen transactions for social impacts,
assess and manage risks consistently andevaluate client operations against a common
set of standards grounded in international bestpractices, including those related to humanrights. See the Environmental and Social Risk
Management section for details.

Building Equitable & Resilient Communities

Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Appendices

Responsible Business

Serving Our Customers and Clients Responsibly

Responsible Sourcing

Identifying Human Rights Risks in Transactions
Our ESRM team screens transactions under
the ESRM Policy for potential human rights
risks. The specific types of human rights
risks we screen for are outlined in the tablebelow. Further data related to ESRM Policy
screening can be found in the Environmental
and Social Risk Management section.
Project-related transactions: When humanrights risks are identified, the ESRM teammight decline to approve the opportunity
outright (if the risks are deemed too high toaddress) or outline what further due diligencewould be needed and which standards
would need to be met for the transaction
to proceed. If an opportunity progresses tothe due diligence phase, our requirements
include gaining access to project assessment
information that allows us to benchmark
according to relevant standards, supported
by a qualified independent consultant.
If a project is not aligned with applicableinternational standards, we will not approvefinancing unless we are satisfied that theclient 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 nothave the same direct leverage and accessto information in general financing that

we do in project-related financing, we still
identify sensitive sectors where we screen
for potential elevated human rights risks and,
when identified, review our clients’ humanrights policies and practices. This prioritization leads us to evaluate our clients’ ability
to avoid, minimize, manage and mitigate
potential human rights risks. We engage ourclients to understand their implementation of
those policies, whether they have adequate
staffing to manage these issues, and wereview and encourage strong disclosures ofhuman rights policies.

Access to Remedy
The UN Guiding Principles call on governments
and companies to play their respective roles
in ensuring that victims of human rights abusehave access to effective remedy. Remedy cantake many different forms, including apologies,
financial or nonfinancial compensation, or
efforts to prevent future harm through policy
commitments and changes in operational
practice.
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. In addition, in line with our ability toprioritize adverse impacts based on severity, we

Citi 2022 ESG Report

Human Rights Risks Screened During Transaction Reviews
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
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
Labor Risks: Risks related to labor forces used in the construction of projects or other operations, including those associated with forced labor, child laborand human trafficking by project operators and their subcontractors
Resettlement: Resettlement of local communities, including Indigenous groups, as necessary for project implementation; requires resettlement action plans
and should 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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will encourage clients to follow up on allegations and to have established processes to offer
remedy or to cooperate with authorities to makesure effective remedy is provided.
For example, in 2022, Citi worked alongsideother lending institutions to develop an action
plan for an agricultural company in Asia.
That plan required, in part, an audit of labor
practices, which revealed that some of thecompany’s workers were suffering indebtedness
as the result of unfair recruiting practices. In
response to the audit and concerns identified,the company changed its recruiting systems
to help address the risk of this type of unfair
practice and reimbursed the affected workers.

Listening to
Stakeholders
and Addressing
Grievances
Reporting Mechanisms
for Stakeholders
The Ethics Hotline provides different channels
for employees and any third party, including
members of the general public, to reportconcerns about unethical behavior to our
Ethics Office. In addition to internal and public
facing 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.
In addition, for project-related finance, weapply the Equator Principles to assess andmanage environmental and social risks. This

Citi 2022 ESG Report

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Ethics and Culture at Citi

includes an assessment 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.

Engaging Stakeholders
To ensure that we are living up to our commitment
to respect human rights and to help identify
emerging risks, we regularly communicate ourapproach externally, engage with stakeholders
on their issues of concern and work to advancerespect for human rights more broadly.
We led an Equator Principles Association collaboration with Shift to develop enhanced guidance
for EP financial institutions (published in 2022)
for evaluating adequate grievance mechanisms
and access to remedy. Citi is also a member of the
Shift Financial Institutions Practitioners Circle.
Through this group, we participate in workshops
related to skill building on human rights due
diligence for ESRM practitioners and deep divesinto emerging salient human rights risks. This
collaboration has helped us refine our approach
to forced labor and human rights in the Asia
Pacific region.
In addition, we continued to pay close attention
to human rights issues raised by stakeholders.
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 without client
consent. We must respect the requirements forclient confidentiality in the banking sector, but
we always implement our ESRM Policy to guideour client engagement to help identify solutions
to human rights challenges.

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

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 new products.

Responsible
Marketing
We offer our 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, including applicable fees andcharges, for the products and services offered,
so that clients can select and use the products
or services best suited to them.
New products are approved by cross-functional
committees that include senior executives from
Risk, Legal, our Independent Compliance Risk
Management team and other relevant units.
Citi also does periodic testing or monitoring ofmarketing materials and disclosures. In addition,
Personal Banking & Wealth Management

Appendices
Responsible Sourcing

has a global approach for handling customer
complaints and concerns in a timely andeffective manner, in line with our commitment
to provide financial services responsibly andtreat customers fairly.
In 2022, we established a centralized Financial
Inclusion and Racial Equity team within U.S.
Personal Banking. This team is developing
targeted and integrated segment strategies,
driving seamless customer-centric execution,and championing greater financial inclusion,
racial equity and customer protection. This will
help institutionalize racial equity within ourbusiness practices and policies.
We are also working to cultivate greater diversity
and inclusivity in our marketing and communications. For example, Citi collaborated with
Getty Images and the research firm Kantar todevelop and launch 10 market-specific Diversity,
Equity and Inclusion (DE&I) Imagery Toolkits
to drive authentic and multifaceted depictionsof people in marketing and communications.
Each toolkit evaluates the local landscape ofthe market, including demographics, trends inimagery, areas of diversity that are often missing
in imagery and opportunities to combat stereotypes. We have made the toolkits available forfree as a global public good via the Getty DE&I
Imagery Toolkit hub, so marketers and communicators across brands and industries can better
promote authentic visual representation in theiradvertising. We have also hosted market-specificworkshops with our agency partners and Citi
colleagues across marketing, communications
and human resources, and commissioned
approximately 900 custom images to fill DE&I
imagery gaps in our internal image library foruse in our global creative work.

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Through our sponsorships, we seek to pursue
purposeful partnerships that align with our
mission and values, that demonstrate positive
societal impact, and that leave a legacy in thecommunities we serve. For example, we have along-standing commitment to supporting Para
athletes and have partnered for many years with
the International Paralympic Committee (IPC),
which focuses on positively changing society’s
perceptions of people with disabilities. In 2022,
Citi became a founding partner of IPC’s PARASPORT and committed to help grow Para ice
hockey, with a focus on advancing gender equity
in the sport. In support of this commitment, Citi
was the presenting sponsor of the first Women’sWorld Challenge Para ice hockey tournament,
held in 2022 in Green Bay, Wisconsin. During theyear, we also continued to feature Para athletes
prominently in our global #StareAtGreatness
campaign, which seeks to change theperception of individuals with disabilities byfocusing on their incredible achievements.

DESIGNING FOR ACCESSIBILITY
We strive to provide products and services
that meet the accessibility needs and preferences of all our clients. For example, weoffer braille and talking ATMs, large print andbraille statements and raised-line checks
for persons with visual disabilities. We also
accept all calls placed through 711 and othertelecommunications relay services.
In addition, we have developed fully accessible explanatory videos for our U.S. Branded
Cards business, to heighten customer
comprehension of key topics. This includes
real-time descriptive transcripts, embedded
closed captions and content readability.

Citi 2022 ESG Report

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Ethics and Culture at Citi

Our Treating Customers Fairly
Principles• Works as described: Consumers canpredict how products and services
will work.
• Appropriate: Consumers can rely on Citi
to offer appropriate products and services
that meet their needs.

Risk Management

Human Rights

Talent & DEI

Serving Our Customers and Clients Responsibly

ELIMINATING OVERDRAFT FEES
In 2022, Citi became the first major U.S.
bank to eliminate overdraft fees. This
includes overdraft fees, returned item fees,and overdraft protection transfer feeson Citi Retail Banking consumer deposit
accounts.

• Value: Consumers receive value that isreasonably 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).

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.
In addition, our chosen name feature wasdesigned to solve key pain points for ourtransgender and nonbinary customers bygiving Citi customers the option to use theirchosen first name on their eligible card andResponsible Businesswithin our servicing channels without requiring
a legal name change. In 2022, we expanded
the program beyond our U.S. Branded credit
cards to include eligible U.S. debit cards aswell. All customers with eligible U.S. Brandedcredit cards and U.S. debit cards can leverage
this feature. As of the end of 2022, more than
35,000 customers had updated their firstnames on their physical cards.
Our Global Consumer Fairness Policy provides
a framework for reviewing consumer fairness
concerns and a sustainable model for managing
emerging risks. The policy covers all aspectsof the consumer product and services life
cycle, including new product development,
marketing, sales (including variable incentive
compensation), underwriting and onboarding,as well as all other stages. These include
expected controls, such as review of advertising and marketing by Compliance and Legal,
to make sure they are clear, truthful and are

Appendices
Responsible Sourcing

not misleading. Additional policy documents,
such as those related to Fair Debt Collection
Practices, advertising and sales practices, andcomplaint handling, work together to support
the overall fairness framework.
As part of this program, Personal Banking &Wealth Management and Institutional Clients
Group employees complete annual Treating
Customers Fairly training. The 2022 training
was assigned to approximately 100,000 Citi
employees globally as of the time of this report’s
publication. The training focuses on identifying
and escalating fairness issues and shows how
fairness influences real-world results.
Citi has 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.
We consider alignment with our Treating
Customers Fairly principles when developing
our employees’ variable incentive plans. For
example, we use client satisfaction metrics,
where available, along with other product-based
metrics, to encourage achievement of businessresults that adhere to internal policies and ourCode of Conduct. We also routinely evaluate
incentive plans, training content, controls,monitoring results and oversight activities
to maintain a sales force that delivers on ourcommitment to serving our customers with
fairness, value, clarity and dependability.
Additionally, we provide annual training andhave measures in place to monitor sales
practices, including auditing and metrics thatassess client risk profiles. When appropriate,
we contact delinquent clients using their credit
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risk profile and design contact strategies thatare vetted for compliance with applicable laws.
We ensure that contact strategies are vetted
for privacy and fairness considerations before
implementation.
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 or prospective clients on the basis ofrace, ethnicity, sex (which encompasses genderas well as sexual orientation, gender identityand gender expression), religion, national origin,disability or other prohibited factors. This
commitment is backed by training, processes,
controls and oversight to help prevent discrimination. In addition, we continually work tounderstand evolving discrimination risks andupdate our approach to preventing such risks inour business strategies, as well as in the designand delivery of our products and services.
Citi has a Global Complaints Standard and aformal complaint handling and governanceprogram to ensure proper controls around
identification, capturing and monitoringof consumer complaints, including thosesubmitted to regulators. A global complaint
forum assesses complaint volume trends,
issues and appropriate actions needed toaddress areas of potential risk. Allegationsof discrimination or complaints that meet
specific fairness triggers are escalated forreview, to determine whether the allegations
are substantiated. Additionally, complaints
metrics are used to identify where there may be

Citi 2022 ESG Report

Building Equitable & Resilient Communities

Ethics and Culture at Citi

an emerging fairness risk related to a business,
product or service, or to the adequacy ofhandling complaints.
We hold a Fair and Inclusive Banking off-sitetraining with senior management from acrossthe company to deepen their understanding offair lending and consumer fairness.

Responsible
Sourcing

Risk Management

Human Rights

Talent & DEI

Appendices

Responsible Business

Serving Our Customers and Clients Responsibly

which includes goals for spending with certified
diverse suppliers. We are also committed to
procuring goods and services from womenowned businesses, with an emphasis indeveloping markets. The Supplier Diversity/
Racial Equity task force meets bi-weekly toreview progress against our supplier diversity
goals, evaluate spend with diverse suppliersand discuss new opportunities with broader
initiatives across the company.

Our Supply Chain Development, Inclusion andSustainability Team (SCDIS) leads our efforts
to make decisions that support our responsible
sourcing priorities:

In 2022, we engaged sourcing and businesscolleagues throughout Citi to share information with them about more than 200 diverse
suppliers that have expertise in information
technology staffing, learning and development,
customer experience, neurodiversity, career
entry, and advertising and marketing. We
undertake a broad range of activities to expand
our base of diverse suppliers. Highlights from2022 include:• Support and expand diverse suppliers• Encourage supplier sustainability practices• Mitigate social and environmental risks• Enhancing our internal processes to better
pinpoint business needs, so we can more
effectively identify diverse firms that are
qualified for specific opportunities at Citi

Responsible Sourcing

Supplier Diversity Spend Goals• Continue to spend $1 billion annually withcertified diverse suppliers• Continue to spend $250 million annuallywith certified Black-owned suppliers• Increase spending with certified womenowned suppliers

2022 Spending with Tier 1*
Certified Diverse Suppliers

$1.3B

$599M

spent with Tier 1
certified diverse
suppliers**

spent with Tier 1
certified Black-owned
suppliers$189M
spent with Tier 1 certified
women-owned suppliers* T ier 1 suppliers are those Citi procures goods andservices from directly.
** T his includes spend with many types of certified diverse
suppliers, including Black-owned and women-owned firms.

related to suppliers

Connecting Diverse
Suppliers to Our
Business
Citi integrates supplier diversity across our entire
business. Our SCDIS team sets clear supplier
diversity goals and embeds them in our sourcing
processes. Every bid over $250,000 requires theconsideration of certified diverse firms.
One of our Action for Racial Equity commitments is investment in Black entrepreneurship,

SUPPLIER POLICIESThe following standards and policies guide responsible sourcing initiatives and communicate our
expectations related to environmental and social issues to our suppliers:• The Citi Statement of Supplier Principles outlines the guidelines for our sustainable supply chain
initiatives, including those related to human rights, ethical business practices and environmental
sustainability.
• The Citi Requirements for Suppliers provides detailed processes and procedures that our suppliersmust follow for contractual compliance and information about other key Citi policy obligations.
• We also ask suppliers to abide by the Citi Statement on Human Rights, including compliance withmodern slavery regulations. For more information about our approach in this area, see the Human
Rights section.

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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Transforming Our Risk and Controls Environment

Building Equitable & Resilient Communities

Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Serving Our Customers and Clients Responsibly• Supporting suppliers through seminars onnavigating the lending process, including
introduction to lenders through Bridge built
by Citi• Networking with 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 ofCommerce, Minority Supplier Development
UK, WBENC and WEConnect

SUPPORTING MINORITY-OWNED BROKER-DEALERS
Aligned with our Action for Racial Equity commitments, we continued to expand our capital
market activities with minority-owned brokerdealers to assist with business and franchisedevelopment. Highlights from 2022 include:• Engaged minority- and women-owned firms toparticipate in 88% of our benchmark debt issuances, including 100% of our USD transactions• Onboarded three minority broker-dealers to theequity share buyback platform and establisheda pipeline through 2024 for additional brokerdealers• Hosted an annual breakfast at which diverse
broker-dealers can share best practices andnetwork with Citi leaders• Worked with minority broker-dealers exclusively to lead several bond issuances:• Black-owned broker-dealers:$2.5 billion deal (January 2022)

In 2022, Citi was awarded the National
Corporation of the Year Award by the
NYNJMSDC. This award recognizes bestpractices in inclusion of minority businesses,
including Asian, Black, Hispanic and Native
American suppliers, as well as demonstrated
results in areas important to minority supplierdevelopment processes, including policies,
growth in spend, minority business development, and leadership and engagement.

Citi 2022 ESG Report

Appendices
Responsible Sourcing

Building
Capabilities ofDiverse Suppliers
The SCDIS team provides U.S.-based small firms
and women-, veteran-, disability-, LGBTQ+- andminority-owned businesses access to business
opportunities, training and mentoring. Our team
identifies certified diverse suppliers, including
small businesses that can meet our supply chain
needs, then subsequently works to build theircapabilities. Highlights from 2022 include:• Collaborating with the NYNJMSDC to host

• Women-owned broker-dealers:$2.25 billion deal (March 2022)

CITI RECOGNIZED FOR
EXCELLENCE IN MINORITY
BUSINESS INCLUSION
AND SUPPLIER DEVELOPMENT

Responsible Businessthe 12th annual Sustainability Symposium,
during which Citi participated on an
ESG-focused panel addressing supplier
diversity, the UK and Australia Modern
Slavery Acts, climate change and preparing
suppliers to meet net zero expectations• Veteran-owned broker-dealers:$2.0 billion deal (May 2022)• Hispanic-owned broker-dealers:$2.75 billion deal (September 2022)• Conducting regional “Doing Business withA New Opportunity for a South African Woman-Owned BusinessCiti supports the Broad-Based Black Economic
Empowerment (BBBEE) program in South Africa.
In 2022, our BBBEE Scorecard improved fromLevel 3 to Level 2, due, in part, to our work to
support and empower diverse businesses in theregion. For example, our South African Country
Sourcing Manager collaborated with our Country
Business & Travel Shared Service Head of Dining
Services to support the development of a Black-,

woman-owned business to run the coffee shop
in one of our local facilities. This achievement
had a significant positive impact on our BBBEE
Scorecard, and as a result, Citi is more likely to
be awarded requests for proposals (RFPs) and to
be recognized as an organization that supports
supplier diversity, the empowerment of small
businesses and the growth of the South African
economy.

Citi” sessions across Asia Pacific, Latin
America and Mexico, open to any supplieraffiliated with select diversity certification
agencies, during which we shared bestpractices for doing business with Citi andother large companies• Supporting the NMSDC Emerging Young
Entrepreneur Program, which helps entrepreneurs build their businesses, and providing
a related scholarship to the Tuck School ofBusiness for a minority-owned business

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Sustainable Finance

Climate Risk & Net Zero

Sustainable Operations

Transforming Our Risk and Controls Environment• Supporting the NYNJMSDC cohort of the
NMSDC Centers of Excellence Certificate
Program — a one-year program thatconnects mid-sized, minority-owned
businesses with corporate members to foster
collaboration, networking and mentoringin pursuit of greater minority inclusion incorporate supply chains

Supply Chain
Sustainability
Focus Areas
Citi has three sustainability focus areas forour supply chain: paper and paper products, IT
hardware and e-waste disposal, and travel andlogistics. We have developed actions for eachof these areas and incorporated them into our
supply chain Global Operating Procedures.

Building Equitable & Resilient Communities

Ethics and Culture at Citi

Risk Management

Human Rights

Talent & DEI

Responsible Business

Serving Our Customers and Clients Responsibly

Appendices
Responsible Sourcing• IT hardware and e-waste disposal: As aresult of choosing EPEAT-certified options
for more than 94% of our servers, laptops,
desktop computers, monitors and mobile
phones in 2022, we estimate an energy
savings of 222 million kilowatt-hours and agreenhouse gas reduction of 47,491 metrictons of CO2 over the life cycle of the products.
In 2022, we received the EPEAT PurchaserAward from the Global Electronics Council
for excellence in procurement related toservers, PCs and mobile phones.

• Travel and logistics: See the Sustainable
Operations section for information about ourefforts related to efficient business travel.

Highlights for each of our focus areas in 2022
included:• Paper and paper products: Althoughongoing global supply chain disruptions havepresented challenges in sourcing adequate
supplies of Forest Stewardship Council(FSC) Chain of Custody-certified paper,
we will continue working to transition to
FSC-certified paper for the outer envelopes
used for our statements and customer
communications, and also to expand the useof digital alternatives.

Citi 2022 ESG Report

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GRI Content Index

Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Appendices

GRI Content Index
We reported the information cited in this Global Reporting Initiative (GRI) content index
for the period January 1, 2022, to December 31, 2022, with reference to the GRI Standards,
including the updated GRI 1: Foundation 2021, GRI 2: General Disclosures 2021, GRI 3:
Material Topics 2021 and the GRI G4 Financial Services Sector Supplement. The following
index provides readers with references for where they can find information in this reportand other public documents addressing GRI disclosures relevant to our business.
Please visit the GRI website for the full text of the disclosures and other information on
the GRI reporting framework.

Disclosure Number and Title

Report Section or Other Documentation

GRI 2: General Disclosures 2021
2-1 Organizational details• Citi Website – Global Presence• 2022 10-K pages 1–6

2-2 Entities included in theorganization’s sustainability
reporting

Citi does not disclose the full list of legal entities. Consistent withfinancial reporting, all of our consolidated entities are covered in thisreport.
• 2022 10-K pages 1, 146

2-3 Reporting period, frequency
and contact point

We publish our ESG Report annually.

2-4 Restatements of information• Environmental Performance for Operations

2-5 External assurance

We secure external assurance annually for data related to our reportingon the Equator Principles.

• About This Report• Assurance page 129

2-6 Activities, value chain andother business relationships• Action for Racial Equity• Citi Impact Fund
• Responsible Sourcing• 2022 10-K pages 1–6, 12, 18, 20, 21, 23• 2022 Annual Report

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Disclosure Number and Title

Report Section or Other Documentation

Disclosure Number and Title

Report Section or Other Documentation

2-7 Employees• Global Workforce Data

2-14 Role of the highest
governance body in sustainability
reporting

Our Board-level Audit Committee has oversight of controls andprocedures related to Our ESG and climate-related reporting, including
both voluntary disclosures and regulatory filings. The Global ESG
Council provides senior management oversight of the workstreams
discussed in the report.

• 2022 10-K pages 57–58
There are no significant variations in employment numbers (such as
seasonal variations in employment).

• ESG Governance at Citi

2-8 Workers who are not
employees

2-9 Governance structure andcomposition

Citi may engage external service providers who may be responsible
for performing noncore business activities or engage nonemployee
resources who are employed by an external third party but support
Citi processes. These nonemployee resources could be working under
Citi supervision or be working under the supervision of an external
third party in the third party’s facility. Citi may engage external service
providers or nonemployees for a variety of different business purposes,
including project-based work for a defined period of time, specialized/
niche skill sets that are not readily available or professional andoutsourced services.
• ESG Governance at Citi
• Citi Corporate Governance• 2023 Proxy Statement pages 20–31, 32–36• Our Material ESG Issues

2-15 Conflicts of interest• 2023 Proxy Statement pages 24–26, 37–40 and 98–99

2-16 Communication of criticalconcerns• ESG Governance at Citi
• Citi Code of Conduct• 2023 Proxy Statement pages 40–42

2-17 Collective knowledge of thehighest governance body

• ESG Governance at Citi

2-18 Evaluation of theperformance of the highest
governance body

• Corporate Governance Guidelines page 6

2-19 Remuneration policies• ESG Governance at Citi > Remuneration• 2023 Proxy Statement pages 10–11 and 52–62• 2023 Proxy Statement page 29

2-10 Nomination and selection of
the highest governance body

• Nomination, Governance and Public Affairs Committee Charter2-11 Chair of the highest
governance body

The Chair of the Board is a nonexecutive, independent director.

• Compensation, Performance Management and Culture Committee
Charter• 2023 Proxy Statement page 27• 2023 Proxy Statement pages 63–66

2-12 Role of the highest
governance body in overseeing themanagement of impacts• ESG Governance at Citi
• Our Material ESG Issues• Our Approach to Managing Climate Risk
• Transforming Our Risk and Controls Environment• Ethics and Culture at Citi
• Risk Management• Audit Committee Charter• Nomination, Governance and Public Affairs Committee Charter2-13 Delegation of responsibility
for managing impacts• Compensation Philosophy• 2023 Proxy Statement pages 45–49

2-20 Process to determine
remuneration• ESG Governance at Citi > Remuneration

2-21 Annual total compensation
ratio• 2023 Proxy Statement pages 109-110

2-22 Statement on sustainable
development strategy• Letter from Our CEO

2-23 Policy commitments• Ethics and Culture at Citi

• Risk Management Committee Charter• Risk Management > Environmental and Social Risk Management• 2022 10-K pages 54–56• Citi Code of Conduct• 2023 Proxy Statement pages 13, 32–36, 92–93• Citi Corporate Governance• ESG Governance at Citi

• Environmental & Social Policies• Citigroup Board of Director’s Committee Charters• 2023 Proxy Statement pages 32–36

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Disclosure Number and Title

Report Section or Other Documentation

Disclosure Number and Title

Report Section or Other Documentation

2-24 Embedding policy
commitments• ESG at Citi

2-29 Approach to stakeholder
engagement• Our Material ESG Issues• ESG Governance at Citi

• Reducing Climate Risk in Our Financing• Risk Management > Environmental and Social Risk Management• Citi Code of Conduct• Human Rights > Listening to Stakeholders and Addressing Grievances• Environmental and Social Policy Framework• Responsible Sourcing• Environmental & Social Policies

2-30 Collective bargaining
agreements• Stakeholder Engagement at Citi

GRI 3: Material Topics 2021

• Reducing Climate Risk in Our Financing• Human Rights > Respecting the Human Rights of Our Employees

3-1 Process to determine material
topics• Our Material ESG Issues

3-2 List of material topics• Our Material ESG Issues

3-3 Management of material
topics• ESG Governance at Citi

• Human Rights > Listening to Stakeholders and Addressing Grievances

Disclosure Number and Title

Report Section or Other Documentation• Citi Code of Conduct

GRI 201: Economic Performance 2016

• Human Rights > Our Commitment to Respect Human Rights• Human Rights > Respecting Human Rights in Our Financing Decisions• Human Rights > Listening to Stakeholders and Addressing Grievances• Responsible Sourcing• Our Material ESG Issues• Ethics and Culture at Citi

• Ethics Hotline

2-27 Compliance with laws andregulations• 2022 10-K pages 298–304

2-28 Membership associations• Stakeholder Engagement at Citi

• 2022 Annual Report• Our Net Zero Commitment

201-1 Direct economic value
generated and distributed• 2022 10-K pages 3–6

201-2 Financial implications and • Financing the Low-Carbon Transition > Transforming Our Business to
Support a Low-Carbon Economy
other risks and opportunities due to• Our Net Zero Commitment
climate change• Our Approach to Managing Climate Risk > Climate Risk in Our
Maritime Shipping Portfolio• Our Approach to Managing Climate Risk

• Risk Management > Industry Engagement• 2022 TCFD Report• Citi Political Engagement Statement• 2022 10-K pages 44–45 and 54–55• Environmental and Social Policy Framework

Citi 2022 ESG Report• Stakeholder Engagement at Citi

• Risk Management > Environmental and Social Risk Management• Risk Management > Environmental and Social Risk Management

2-26 Mechanisms for seeking
advice and raising concerns

Assurance• Ethics and Culture at Citi

• Citi Corporate Governance2-25 Processes to remediate
negative impacts

Appendices• Managing Climate Risk in Our Operations

201-3 Defined benefit plan
obligations and other retirement
plans• Citi Benefits Handbook• 2022 10-K pages 173–184

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Sustainability Accounting Standards Board Index

Disclosure Number and Title

Sustainable Operations

United Nations Global Compact Index

Report Section or Other Documentation

GRI 202: Market Presence 2016
202-1 Ratios of standard entry
level wage by gender compared to
local minimum wage

202-2 Proportion of senior
management hired from the local
community

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Disclosure Number and Title

Responsible Business

The Principles for Responsible Banking Index

We offer competitive salaries based on our Compensation Philosophy,
which includes ensuring that entry-level employees receive competitive
wages within the industry. We also offer employees the opportunity
to take advantage of formal or informal flexible work arrangements,
including part-time work and job sharing. We conduct an annual
review of compensation, which includes multiple layers of reviews ofcompensation recommendations and pay equity analysis.
Most employees are hired locally. When hiring for senior management,
we may consider qualified candidates from across the globe.

3-3 Management of material
topicsAssurance

Report Section or Other Documentation• Ethics and Culture at Citi
• Citi Code of Conduct• 2022 10-K pages 60-63

206-1 Legal actions for anticompetitive behavior, anti-trust,and monopoly practices• 2022 10-K pages 298–304

GRI 302: Energy 2016
3-3 Management of material
topics• Our $1 Trillion Goal
• Financing the Low-Carbon Transition• Our Net Zero Commitment• Our $1 Trillion Goal

• Operational Footprint Goals• Financing the Low-Carbon Transition > Transforming Our Business to
Support a Low-Carbon Economy• Operational Footprint Goals > Net Zero Commitment• Sustainable and Healthy Buildings• Financing Social Impact > Supporting Affordable Housing• Environmental and Social Policy Framework• Action for Racial Equity

302-1 Energy consumption
within the organization• Environmental Performance for Operations• Financing the Low-Carbon Transition > Transforming Our Business to
Support a Low-Carbon Economy

302-3 Energy intensity• Environmental Performance for Operations

302-4 Reduction of energy
consumption• Environmental Performance for Operations

3-3 Management of material
topics• Ethics and Culture at Citi

GRI 304: Biodiversity 2016

205-1 Operations assessed forrisks related to corruption• Risk Management > Managing Corruption and Tax-Related Risks

205-2 Communication andtraining about anti-corruption
policies and procedures• Ethics and Culture at Citi

• Citi Impact Fund
• Strategic Philanthropy: The Citi Foundation

203-2 Significant indirect
economic impacts

AppendicesGRI 206: Anti-competitive Behavior 2016

GRI 203: Indirect Economic Impacts 2016
203-1 Infrastructure
investments and services
supported

Building Equitable & Resilient Communities

GRI 205: Anti-corruption 2016
• Risk Management > Managing Corruption and Tax-Related Risks• Anti-Bribery and Corruption Program Statement• Risk Management > Managing Corruption and Tax-Related Risks• Anti-Bribery and Corruption Program Statement• Anti-Money Laundering Program

3-3 Management of material
topics• Risk Management > Environmental and Social Risk Management• Risk Management > Biodiversity Loss: A Growing Risk

• Risk Management > Environmental and Social Risk Management304-2 Significant impacts ofactivities, products, and services on • Risk Management > Biodiversity Loss: A Growing Risk
biodiversity304-3 Habitats protected or
restored• Risk Management > Sector Approach for Agribusiness• Citi Code of Conduct

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Disclosure Number and Title

Sustainable Operations

United Nations Global Compact Index• How We Work• Our Net Zero Commitment

401-2 Benefits provided tofull-time employees that are notprovided to temporary or part-time
employees• Operational Footprint Goals• 2022 TCFD Report305-1 Direct (Scope 1) GHG
emissions• Environmental Performance for Operations

305-2 Energy indirect (Scope 2)
GHG emissions• Environmental Performance for Operations

305-3 Other indirect (Scope 3)
GHG emissions• Environmental Performance for Operations

305-4 GHG emissions intensity• Environmental Performance for Operations

305-5 Reduction of GHG
emissions• Environmental Performance for Operations

Assurance• Citi Benefits Handbook

GRI 403: Occupational Health and Safety 2018
3-3 Management of material
topics• Sustainable and Healthy Buildings• How We Work
• Human Rights > Freedom of Association

403-3 Occupational healthservices• How We Work403-4 Worker participation,
consultation, and communication
on occupational health and safety• How We Work403-6 Promotion of worker
health• How We Work

• Human Rights > Freedom of Association

GRI 404: Training and Education 2016

GRI 306: Waste 2020
3-3 Management of material
topics• Operational Footprint Goals

306-2 Management ofsignificant waste-related impacts• Operational Footprint Goals

306-3 Waste generated

Citi did not generate any hazardous waste during the reporting period.

• Environmental and Social Policy Framework• Sustainable and Healthy Buildings• Environmental Performance for Operations

GRI 401: Employment 2016
• Our People Strategy• How We Work• Our Talent and DEI Strategy

Citi 2022 ESG Report

Appendices

The Principles for Responsible Banking Index

Report Section or Other Documentation• Environmental and Social Policy Framework

401-1 New employee hires andemployee turnoverUnited Nations Guiding Principles Reporting Framework Index

Responsible Business

Disclosure Number and Title• Operational Footprint Goals > Net Zero Commitment

3-3 Management of material
topicsTalent & DEI

Report Section or Other Documentation

GRI 305: Emissions 2016
3-3 Management of material
topicsBuilding Equitable & Resilient Communities• Global Workforce Data

3-3 Management of material
topics• How We Work404-2 Programs for upgrading
employee skills and transition
assistance programs• How We Work404-3 Percentage of employees
receiving regular performance andcareer development reviews

Employees receive formal feedback from their managers throughmidyear and year-end reviews. Citi encourages employees and their
managers to create individual plans that consider the skills, strategic
development opportunities and behaviors needed to enhance current
performance and prepare for future roles. These plans are discussed aspart of midyear and year-end reviews, and employees are encouraged totake part in stretch assignments and development programs to further
build skills. All Citi employees have the ability to request feedback fromand provide feedback to colleagues, while managers can also ask for
feedback on team members throughout the year.

• Our Talent and DEI Strategy > Recruit, Retain and Promote• Our Talent and DEI Strategy > Recruit, Retain and Promote

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Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Disclosure Number and Title

Sustainable Operations

United Nations Global Compact Index

Report Section or Other Documentation

GRI 405: Diversity and Equal Opportunity 2016
3-3 Management of material
topics• Our Talent and DEI Strategy• Human Rights > Our Commitment to Respect Human Rights

Building Equitable & Resilient Communities

United Nations Guiding Principles Reporting Framework Index

Disclosure Number and Title• Global Workforce Data

3-3 Management of material
topics• 2023 Proxy Statement page 28• 2022 10-K pages 57-58

GRI 413: Local Communities 2016

GRI 407: Freedom of Association and Collective Bargaining 2016
3-3 Management of material
topics• Human Rights > Respecting the Human Rights of Our Employees

407-1 Operations and suppliers
in which the right to freedomof association and collective
bargaining may be at risk

• Human Rights > Respecting the Human Rights of Our Employees

Appendices

The Principles for Responsible Banking Index

Assurance

Report Section or Other Documentation• Human Rights > Our Commitment to Respect Human Rights• Human Rights > Respecting the Rights of Indigenous Peoples• Human Rights > Respecting Human Rights in Our Financing Decisions

411-1 Incidents of violations
involving rights of indigenous
peoples• Board of Directors

Responsible Business

GRI 411: Rights of Indigenous Peoples 2016

• Human Rights > Respecting the Human Rights of Our Employees

405-1 Diversity of governancebodies and employees

Talent & DEI

3-3 Management of material
topics• Human Rights > Identifying Human Rights Risks in Transactions• Stakeholder Engagement at Citi
• Financing Social Impact• Action for Racial Equity• Citi Impact Fund
• Strategic Philanthropy: The Citi Foundation• Risk Management > Our ESRM Policy• Environmental and Social Policy Framework

GRI 408: Child Labor 2016
3-3 Management of material
topics• Human Rights > Respecting Human Rights in Our Financing Decisions

408-1 Operations and suppliers
at significant risk for incidents ofchild labor

We have not identified operations as having significant risk forincidence of child labor. Our business overall is not at high risk becauseof the nature of work in the financial services industry. In addition,
we do not directly source high-risk agricultural commodities, conflictminerals or other raw materials, goods or services in significant amounts
from suppliers in high-risk jurisdictions.

• Responsible Sourcing > Supplier Policies

413-1 Operations with local
community engagement, impact
assessments, and development
programs• Stakeholder Engagement at Citi
• Financing Social Impact > Supporting Affordable Housing• Action for Racial Equity• Citi Impact Fund
• Strategic Philanthropy: The Citi Foundation

GRI 409: Forced or Compulsory Labor 2016

• Risk Management > Environmental and Social Risk Management• Human Rights > Listening to Stakeholders and Addressing Grievances• Responsible Sourcing

413-2 Operations withsignificant actual and potential
negative impacts on local
communities

3-3 Management of material
topics• Human Rights > Respecting Human Rights in Our Financing Decisions• Responsible Sourcing > Supplier Policies

GRI 415: Public Policy 2016409-1 Operations and suppliers
at significant risk for incidents offorced or compulsory labor

We have not identified operations as having significant risk for incidenceof forced or compulsory labor. In addition, we do not directly source highrisk agricultural commodities, conflict minerals or other raw materials insignificant amounts from suppliers in high-risk jurisdictions.

3-3 Management of material
topics• Human Rights > Respecting Human Rights in Our Financing Decisions• Responsible Sourcing

Citi 2022 ESG Report• Risk Management > Environmental and Social Risk Management• Human Rights > Our Commitment to Respect Human Rights• Human Rights > Respecting Human Rights in Our Financing Decisions• Responsible Sourcing• ESG Governance at Citi
• Risk Management > Public Policy• Citi Political Engagement Statement415-1 Political contributions• Citi U.S. Political Contributions

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Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Disclosure Number and Title

Sustainable Operations

United Nations Global Compact Index

Report Section or Other Documentation

GRI 417: Marketing and Labeling 2016
3-3 Management of material
topics• Serving Our Customers and Clients Responsibly

417-1 Requirements for productand service information andlabeling• Serving Our Customers and Clients Responsibly

GRI 418: Customer Privacy 2016
3-3 Management of material
topics• Risk Management > Safeguarding Data and Protecting Customer
Information• Citi Code of Conduct• Citi Online Privacy Statement• Citi Security Center

418-1 Substantiated complaints
concerning breaches of customer
privacy and losses of customer data

• Risk Management > Safeguarding Data and Protecting Customer
Information

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Disclosure Number and Title

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Report Section or Other Documentation

FINANCIAL SERVICES SECTOR SUPPLEMENT• 2022 10-K pages 3–23
FS6 Percentage of the portfolio
for business lines by specific region,
size (e.g., micro/SME/large) and bysector

FS8 Monetary value of products
and services designed to deliver a
specific environmental benefit foreach business line broken down by
purpose• Our $1 Trillion Goal

FS13 Access points in lowpopulated or economicallydisadvantaged areas by type

• Financing Social Impact• Financing the Low-Carbon Transition > Transforming Our Businessto Support a Low-Carbon Economy• Action for Racial Equity• Citi Impact Fund
• Strategic Philanthropy: The Citi Foundation

FS14 Initiatives to improveaccess to financial services for
disadvantaged people• Financing Social Impact• Action for Racial Equity• Citi Impact Fund
• Strategic Philanthropy: The Citi Foundation

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Sustainability AccountingStandards Board Index
This index was prepared with reference to the Industry Standards Version 2018-10 issued by the Sustainability
Accounting Standards Board (SASB). The disclosures below relate to three sector standards aligned to our mix
of businesses: Commercial Banks, Consumer Finance and Investment 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 toour business. All data is as of and for the year ended December 31, 2022, unless otherwise noted.

Commercial Banks
Topic

Accounting Metric

Category

Code

Report Section or Other Documentation

Data Security(1) Number of data breaches, (2) percentage involving personally identifiable information (PII),(3) number of account holders affected

Quantitative

FN-CB-230a.1

For reasons driven by operational security, Citi generally does not publicly disclose details regarding
security incidents. Our approach to cybersecurity is detailed in this report, including our approach to
cybersecurity breaches.
• Risk Management > Safeguarding Data and Protecting Customer Information

Financial Inclusion &Capacity Building

Description of approach to identifying and addressing data security risks

Discussion andAnalysis

FN-CB-230a.2• Risk Management > Safeguarding Data and Protecting Customer Information(1) Number and (2) amount of loans outstanding
qualified to programs designed to promote small
business and community development

Quantitative

FN-CB-240a.1

Citi engages in community development efforts by equity investment through the Citi Impact Fundand financing affordable housing and community development projects through our Citi Community
Capital group. Key statistics and the impacts of these efforts as well as activity to support small
business lending can be found in this report.
• Building Equitable & Resilient Communities > Investing in Our Communities: 2022 Highlights• Action for Racial Equity• Citi Impact Fund
• Citi Community Capital Website(1) Number and (2) amount of past due and nonaccrual loans qualified to programs designed to promote small business and community development

Citi 2022 ESG Report

Quantitative

FN-CB-240a.2

Citi does not report this information.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

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

Quantitative

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

FN-CB-240a.3

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

In 2014, Citi launched the Access Account — a simple, checkless bank account with low or nomonthly fees and no overdraft fees, which provides customers with a straightforward way to savemoney and manage their finances. As of Dec. 31, 2022, there were 332,913 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 and unbanked communities. In addition to eliminating thesefees, 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• 2022 10-K page 68

Description of approach to incorporation of environmental, social, and governance (ESG) factors incredit analysis

Discussion andAnalysis

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

FN-CB-240a.4

Our efforts to support underbanked individuals and small businesses are discussed in this report.
• Our $1 Trillion Goal > Sustainable Finance in Action• Strategic Philanthropy: The Citi Foundation > Community Finance Innovation Fund

• Environmental and Social Policy Framework• 2022 10-K pages 113-114• 2022 TCFD Report pages 54-56

Business Ethics

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

Quantitative

Description of whistleblower policies and procedures

Discussion andAnalysis

FN-CB-510a.2

Quantitative

FN-CB-550a.1

Systemic Risk Management Global Systemically Important Bank (G-SIB) score,

FN-CB-510a.1• 2022 10-K pages 298-304

Citi 2022 ESG Report• Human Rights > Reporting Mechanisms for Stakeholders• Citi Code of Conduct pages 10-11

by category

Activity Metric

Citi does not disclose total losses as a result of legal proceedings associated with financial industry
laws or regulations. However, Citi provides information regarding material legal matters, in accordance with SEC requirements and US GAAP in its 10-K and other applicable SEC filings.

• 2022 10-K page 26• 2022 Systemic Risk Report (FR Y-15)

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

Discussion andAnalysis

FN-CB-550a.2• 2022 10-K pages 28-31(1) Number and (2) value of checking and savings
accounts by segment: (a) personal and (b) small
business

Quantitative

FN-CB-000.A

Citi does not report this information.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index(1) Number and (2) value of loans by segment: (a)personal, (b) small business and (c) corporate

Quantitative

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

FN-CB-000.B

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

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 otherloans are aggregated.
• 2022 10-K pages 73-81

Consumer FinanceTopic

Accounting Metric

Category

Code

Response

Customer Privacy

Number of account holders whose information isused for secondary purposes

Quantitative

FN-CF-220a.1

Citi does not report this information.

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

Quantitative

FN-CF-220a.2

Citi does not disclose total losses as a result of legal proceedings associated with customer privacy.
However, Citi provides information regarding material legal matters, in accordance with SEC
requirements and US GAAP in its 10-K and other applicable SEC filings.
• 2022 10-K pages 298-304

Data Security

Selling Practices

Citi 2022 ESG Report(1) Number of data breaches, (2) percentage involving personally identifiable information (PII),(3) number of account holders affected

Quantitative

FN-CF-230a.1

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

Card-related fraud losses from (1) card-not-present
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 and addressing 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 the amount 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 with FICO scores above andbelow 660

Quantitative

FN-CF-270a.2

Citi does not report this information.

(1) Average fees from add-on products, (2) average
APR, (3) average age of accounts, (4) average number of trade lines, and (5) average annual fees forpre-paid products, for customers with FICO scores
above and below 660

Quantitative

FN-CF-270a.3

Citi does not track this information.

(1) Number of complaints filed with the Consumer
Financial Protection Bureau (CFPB), (2) percentage
with monetary or nonmonetary relief, (3) percentage disputed by consumer, (4) percentage that
resulted in investigation by the CFPB

Quantitative

FN-CF-270a.4

Citi does not report this information.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Total amount of monetary losses as a result of legal
proceedings associated with selling and servicing
of products

Quantitative

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

FN-CF-270a.5

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Citi does not disclose total losses as a result of legal proceedings associated with selling and servicing of products. However, Citi provides information regarding material legal matters, in accordancewith SEC requirements and US GAAP in its 10-K and other applicable SEC filings.
• 2022 10-K pages 298-304

Activity Metric

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

Quantitative

Number of (1) credit card accounts and (2) pre-paid
debit card accounts

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 unique consumers.
• 4Q22 Quarterly Financial Data Supplement page 8

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.
• 4Q22 Quarterly Financial Data Supplement page 8

Investment Banking & Brokerage
Topic

Accounting Metric

Category

Code

Response

Employee Diversity &Inclusion

Percentage of gender and racial/ethnic grouprepresentation for (1) executive management,(2) non-executive management, (3) professionals, and (4) all other employees

Quantitative

FN-IB-330a.1• Our Talent and DEI Strategy > 2025 Aspirational Representation Goals

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

Quantitative

FN-IB-410a.1

Citi does not report this information.

(1) Number and (2) total value of investments
and loans 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

Incorporation ofEnvironmental, Social,and Governance Factors
in Investment Banking &Brokerage Activities

Citi 2022 ESG Report• Our Talent and DEI Strategy > Diversity at the Top: Senior Leader Representation• Global Workforce Data

• Risk Management > ESRM Consultation Data

FN-IB-410a.3• Risk Management > Environmental and Social Risk Management• Environmental and Social Policy Framework

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Business Ethics

Professional Integrity

Systemic Risk
Management

Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Total amount of monetary losses as a resultof legal proceedings associated with fraud,insider trading, anti-trust, anti-competitive
behavior, market manipulation, malpractice,or other related 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 covered
employees with a record of investment-related investigations, consumer-initiatedcomplaints, private civil litigations, or otherregulatory 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 resultof legal 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 with professional
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 and other applicable SEC filings.

Description of approach to ensuring professional integrity, including duty of care

Discussion andAnalysis

FN-IB-510b.4

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 incorporationof results of mandatory and voluntarystress tests into capital adequacy planning,
long-term corporate strategy, and otherbusiness activities

Discussion andAnalysis

FN-IB-550a.2

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

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.

Employee Incentives & Risk Percentage of total remuneration that is
Takingvariable for Material Risk Takers (MRTs)• 2022 10-K pages 298-304• Serving Our Customers and Clients Responsibly• Citi Code of Conduct• 2023 Proxy Statement page 87 and 90-91

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Activity MetricSustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

FN-IB-550b.2 Citi discloses the applicable policies, triggers, and affected forms of remuneration under its claw-

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

Quantitative

Discussion of policies around supervision,
control, and validation of traders’ pricing ofLevel 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

back provisions in its Proxy Statement.
• 2023 Proxy Statement pages 87 and 95

Per Dealogic, our transaction volumes for 2022 were:Transaction Type

Volume ($ M)

Deals (#)

Underwriting

631,451.1

2,461

Advisory (completed)

741,132.2

248

Securitizations

87,795.2

288• 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, and syndicated loans.
• Securitizations consist of asset and mortgage-backed securities.
• Derivatives are not accounted for in the table above.
(1) Number and (2) value of proprietary investments
and loans by sector

Quantitative

FN-IB-000.B

Citi does not disclose all of its proprietary investments. Citi Ventures maintains an active portfolioof over 100 companies across seven fintech and enterprise tech focus areas. The Citi Impact Fundmakes equity investments in companies that are addressing societal challenges in the areas ofFinancial Inclusion, Future of Work, Climate Resilience and Social 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 2022 ESG Report

Quantitative

FN-IB-000.C

Citi does not report this information.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

United Nations Global
Compact Index
Citi joined the United Nations Global Compact (UNGC) in 2010, and we continue to embed theCompact’s Ten Principles across our business and report on activities related to human rights,
labor issues, the environment and anti-corruption. The following table indicates where readers canfind information that addresses our support of the principles, either in this report or other publicly
available documents.

UNGC Principle

Report Section or Other Documentation

Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed • Human Rights
human rights;• Citi Code of Conduct
andPrinciple 2: make sure that they are not complicit in human rights abuses.

• Citi Statement on Human Rights• ESG Governance at Citi
• Risk Management > Environmental and Social Risk Management• Human Rights• Citi Statement on Human Rights

Labor
Principle 3: Businesses should uphold the freedom of association and the effective recognitionof the right to collective bargaining;• Human Rights > Respecting the Human Rights of Our Employees

Principle 4: the elimination of all forms of forced and compulsory labor;• Human Rights > Respecting Human Rights in Our Financing Decisions• Citi Statement on Human Rights• Citi Statement of Supplier Principles• Citi Statement on Human Rights• Citi Modern Slavery Disclosures

Principle 5: the effective abolition of child labor;• Human Rights > Respecting Human Rights in Our Financing Decisions• Citi Statement of Supplier Principles

and• Citi Statement on Human Rights• Citi Modern Slavery Disclosures

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

UNGC Principle

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Report Section or Other Documentation

Labor
Principle 6: the elimination of discrimination in respect of employment and occupation.

• Action for Racial Equity• Our Talent and DEI Strategy• Human Rights > Respecting the Human Rights of Our Employees• Citi Code of Conduct• Citi Requirements for Suppliers• Citi Statement of Supplier Principles• Citi Statement on Human Rights• Citi U.S. Affirmative Action and Equal Employment Opportunity Policy Statement

Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;• Our Net Zero Commitment• Our Approach to Managing Climate Risk
• Risk Management > Environmental and Social Risk Management

Principle 8: undertake initiatives to promote greater environmental responsibility;• Our $1 Trillion Goal
• Financing the Low-Carbon Transitionand• Our Net Zero Commitment• Our Approach to Managing Climate Risk
• Sustainable Operations• Responsible Sourcing

Principle 9: encourage the development and diffusion of environmentally friendly technologies. • Our $1 Trillion Goal
• Financing the Low-Carbon Transition• Our Net Zero Commitment• Operational Footprint Goals > Net Zero Commitment

Anti-corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and • Risk Management > Managing Corruption and Tax-Related Risks
bribery.
• Anti-Bribery Program• Anti-Money Laundering Program• Citi Code of Conduct• Citi Requirements for Suppliers• Citi Statement of Supplier Principles

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

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 UN Guiding Principles on Businessand Human Rights and our commitment to transparency and accountability regarding our humanrights-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
Policy commitment

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• Citi Statement on Human Rights

A1.3

How is the public commitment disseminated?

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

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Section of the Framework

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Report Section or Other Documentation

Part A: Governance of Respect for Human Rights
Embedding respect forhuman rights

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 organizedwithin the company, and why?

• ESG Governance at Citi
• Our Talent and DEI Strategy• Risk Management > Safeguarding Data and Protecting Customer Information• Risk Management > Environmental and Social Risk Management• Human Rights > Respecting Human Rights in Our Financing Decisions• Responsible Sourcing

A2.2

What kinds of human rights issues are discussed by senior management
and by the Board, and why?

• Risk Management > Escalation of High-Risk Transactions and Clients• Human Rights > Our Salient Human Rights Risks• Human Rights > Respecting Human Rights in Our Financing Decisions• Human Rights > Disclosures Related to Modern Slavery• Environmental and Social Policy Framework

A2.3

How are employees and contract workers made aware of the ways in which
respect for human rights should inform their decisions and actions?

• Ethics and Culture at Citi > Code of Conduct• 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 theimportance it places on respect for human rights?

• Risk Management > Policy Implementation• Risk Management > Engagement• Human Rights > Respecting Human Rights in Our Financing Decisions• Responsible Sourcing• Citi Requirements for Suppliers• Citi Statement of Supplier Principles

A2.5

Citi 2022 ESG Report

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

• Action for Racial Equity• Human Rights

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Section of the Framework

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Report Section or Other Documentation

Part B: Defining the Focus of Reporting
Statement of salient issues B1

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

• Human Rights > Our Salient Human Rights Risks• Human Rights > Salient Human Rights Risks: Stakeholder Impacts• Human Rights > Respecting Human Rights in Our Financing Decisions• Citi Statement on Human Rights

Determination of salientissuesB2

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

• Human Rights > Our Commitment to Respect Human Rights

Choice of focal
geographies

B3

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

While salient human rights risks and our efforts to manage them occur at a global level, this report provides abreakdown of our human rights due diligence for several salient risks at the project level and a separate breakdown of our due diligence of these and other environmental and social risks at the regional and sector levels forpurposes of fulfilling the transparency requirements of the Equator Principles.
• Risk Management > 2022 Projects Covered by the Equator Principles• Risk Management > ESRM Consultation Data

Additional severe impacts

B4

Identify any severe impacts on human rights that occurred or were still
being addressed during the reporting 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 relevance and significance of suchpolicies to those who need 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

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Section of the Framework

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Report Section or Other Documentation

Part C: Management of Salient Human Rights Issues
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 which stakeholders to engage with inrelation to each salient issue, and when and how to do so?

• Stakeholder Engagement at Citi
• Risk Management > Analysis of Current and Emerging Risks• Risk Management > Engagement• Human Rights > Listening to Stakeholders and Addressing Grievances

Assessing impacts

Integrating findings
and taking action

C2.2

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

• Human Rights > Listening to Stakeholders and Addressing Grievances

C2.3

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

• Human Rights > Listening to Stakeholders and Addressing Grievances

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 a salient 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 canaffect the management of salient issues, involved in finding and implementing solutions?

• ESG Governance at Citi

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

• Risk Management > Environmental and Social Risk Management

C4.2

C4.3

During the reporting period, what action has the company taken to preventor mitigate potential impacts related to each salient issue?

• Human Rights > Respecting Human Rights in Our Financing Decisions• Risk Management > Environmental and Social Risk Management• Human Rights > Respecting Human Rights in Our Financing Decisions• Human Rights > Respecting Human Rights in Our Financing Decisions• Financing Social Impact• Action for Racial Equity• Our Talent and DEI Strategy• Risk Management > Safeguarding Data and Protecting Customer Information• Human Rights > Respecting Human Rights in Our Financing Decisions

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Section of the Framework

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Report Section or Other Documentation

Part C: Management of Salient Human Rights Issues
Tracking performanceC5

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 eachsalient issue is being managed effectively?

Please refer to examples in the sections below.
• Action for Racial Equity > Racial Equity Audit• Human Rights > Respecting Human Rights in Our Financing Decisions• Human Rights > Human Rights Due Diligence in Action

Remediation

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 salient issue?

• Ethics and Culture at Citi > Escalating Concerns• Human Rights > Listening to Stakeholders and Addressing Grievances• Citi Code of Conduct

C6.2

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

• Ethics and Culture at Citi > Assessing Our Culture of Ethics

C6.3

How does the company process complaints and assess the effectivenessof outcomes?

• Ethics and Culture at Citi > Acting with Integrity• 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 their outcomes regarding each salient issue, andwhat lessons has the company learned?

In 2022, concerns were raised by stakeholders relating to the Oil & Gas, Manufacturing, Technology and Palm
Oil sectors. We engage with these industries directly through client relationships, stakeholder meetings andactive participation in relevant initiatives. For instance, our membership in the Roundtable on Sustainable
Palm Oil enables us to engage with multiple stakeholders connected to the Palm Oil value chain, to improvethe 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 engagements.
• Action for Racial Equity• Risk Management > Sector Approach for Agribusiness

C6.5

Citi 2022 ESG Report

During the reporting period, did the company provide or enable remedy forany actual impacts related to a salient issue and, if so, what are typical orsignificant examples?

• Human Rights > Access to Remedy

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Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

The Principles for Responsible Banking Index(as of December 31, 2022)
The Principles for Responsible Banking (PRB or the Principles) are a framework for signatory banks to use in aligning their strategy and practice with the Sustainable
Development Goals (SDGs) and the Paris Climate Agreement (Paris Agreement). The Principles encourage a sustainable banking system and help the industry
demonstrate how it makes a positive contribution to society.
Citi is committed to responsible banking, and we continue our efforts to conduct business in a manner that is consistent with the intent of the Principles.
The Principles for Responsible Banking Reporting and Self-Assessment Template (the PRB Template) outlines reporting requirements for PRB signatories. Citi preparedand presented the following PRB Template as of December 31, 2022, as discussed in the PRB Reporting and Self-Assessment Template Supplement on page 122.

Reporting and Self-Assessment Requirements

Response

Links and References

Principle 1: Alignment
We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the SDGs, the Paris Agreement and relevant national and regional frameworks.
Business Model Describe (high-level) your bank’s business model,
including the main customer segments served, types of products andservices provided, the main sectors and types of activities across themain geographies in which your bank operates or provides products
and services. Please also quantify the information by disclosing e.g.
the distribution of your bank’s portfolio (%) in terms of geographies,
segments (i.e. by balance sheet and/or off-balance sheet) or bydisclosing the number of customers and clients served.

Citigroup (Citi, the company) is a global diversified financial services holding company whose businesses provide
consumers, corporations, governments and institutions with a broad range of financial products and services, including
consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services
and wealth management. Citi has approximately 200 million customer accounts and does businessin nearly 160 countries and jurisdictions.
Citigroup is managed pursuant to three operating segments: Institutional Clients Group (ICG), Personal Banking and
Wealth Management (PBWM) and Legacy Franchises. Activities not assigned to the operating segments are included
in Corporate/Other. For more details on specific businesses under these segments and the regions served, please see
pages 1 to 6 in our 2022 10-K.

External References• About Citi
• Citi Businesses• Global Presence• 2022 10-K, pages 1-6

Strategy alignment
Does your corporate strategy identify and reflect sustainability as strategic priority/ies for your bank?
Yes

No

Please describe how your bank has aligned and/or is planning to align its strategy to be consistent with the Sustainable Development Goals (SDGs), the Paris Climate Agreement, and relevant national and regional frameworks.
Does your bank also reference any of the following frameworks or sustainability regulatory reporting requirements in its strategic priorities or policies to implement these?
UN Guiding Principles on Business and Human Rights
International Labour Organization fundamental conventions
UN Global Compact
UN Declaration on the Rights of Indigenous Peoples

Citi 2022 ESG Report Any applicable regulatory reporting requirements on environmental risk assessments, e.g.
on climate risk - please specify which ones: ­ Any applicable regulatory reporting requirements on social risk assessments, e.g. on modern
slavery - please specify which ones: U.K. and Australian Modern Slavery Acts
None of the above

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and References

Strategy alignment (cont.)

Many of our sustainable finance activities are compatible with the SDGs. Citi is also part of the Global Investors for
Sustainable Development (GISD) Alliance, a group of leaders of major financial institutions and corporations fromacross the world. It is convened by the United Nations Secretary-General to deliver solutions that scale up private
finance and investment to achieve the SDGs.

2022 ESG Report• ESG at Citi
• Our $1 Trillion Goal
• Our Net Zero Commitment

Examples of our SDG-compatible initiatives include:• Action for Racial Equity

Sustainable Progress Strategy – Citi outlines our approach to responding to climate change along three pillars ofactivity: financing and facilitating the low-carbon transition; measuring and managing climate risk; and reducing
the environmental footprint of our facilities globally.

• Citi Impact Fund

$1 Trillion Sustainable Finance Goal – Citi has committed to finance and facilitate $1 trillion in sustainable finance by
2030, to help accelerate the transition to a sustainable, low-carbon economy that supports society’s environmental,social and economic needs. Transactions must meet specified environmental or social criteria to contribute to thisgoal.*• Action for Racial Equity

ESRM Sector Approaches – Under our Environmental and Social Risk Management (ESRM) Policy, we have outlined
specific Sector Approaches for a number of sectors, such as Thermal Coal Mining, Coal-Fired Power and certain
agribusiness industries.
Net Zero Commitment – Citi has committed to net zero greenhouse gas (GHG) emissions by 2050, including net zero
GHG emissions for its operations by 2030. To date, Citi has released interim 2030 emissions reduction targets for its
Auto Manufacturing, Commercial Real Estate, Energy, Power, Steel and Thermal Coal Mining loan portfolios.

External References• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit Report• Citi Impact Fund
• Environmental and Social
Policy Framework

Action for Racial Equity – As part of our Action for Racial Equity initiative, Citi and the Citi Foundation committed over
$1 billion in strategic initiatives from 2020 to 2023 to help close the racial wealth gap in the U.S.*
Citi Impact Fund – Citi established the Citi Impact Fund, through which we are investing in “double bottom line” companies that are addressing societal challenges, and we have expanded this fund over recent years to over $500 million.*
In addition to the examples above, Citi has adopted or publicly endorsed several external principles and standards that
inform our approach to sustainable finance and risk management and allow us to provide innovative financial services
that enable growth and economic progress. Please refer to our Environmental and Social Policy Framework for a summaryof those principles and standards.
*All dollar amounts described in this index are in USD.

Citi 2022 ESG Report

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Reporting and Self-Assessment Requirements

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Response

Assurance

Links and References

Principle 2: Impact and Target Setting
We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and environment resulting from our activities,
products and services. To this end, we will set and publish targets where we can have the most significant impacts.
2.1 Impact Analysis (Key Step 1)
Show that your bank has performed an impact analysis of its
portfolio/s to identify its most significant impact areas and determine
priority areas for target-setting. The impact analysis shall be updated
regularly and fulfill the following requirements/elements (a-d):a) Scope: What is the scope of your bank’s impact analysis? Please
describe which parts of the bank’s core business areas, products/
services across the main geographies that the bank operates in(as described under 1.1) have been considered in the impact analysis.
Please also describe which areas have not yet been included, and why.

Citi has identified our priority strategic impact initiatives through stakeholder engagement, including investors, clients,
civil society and regulators. Our process involves concurrent workstreams that provide continuous feedback for themonitoring of potential impacts. While the components of this approach are summarized below, they may not occur
in the linear fashion presented.
1. Feedback Pathways: To identify potential impact areas, we engage several internal and external stakeholders andpartners, including:a) Periodic engagement with civil society		c) Third-party rating organizationsb) Participation in trade organizations 		d) Public-Private Partnerships

2022 ESG Report• Our Material ESG Issues• Stakeholder Engagement
at CitiExternal References• 2022 10-K, pages 2-6

2. Normalization of Feedback: Given the myriad streams of incoming feedback and the numerous potential impact
areas identified by the pathways described above, we use the following to help identify which areas are the most salient
and actionable:a) Materiality Assessments								c) Targeted stakeholder engagements (including clientsand shareholders)b) Research 		
		
					

d) Consideration of core business areas, products/services
and the geographies we work in

Scope and Scale:In 2022, Citi conducted a strategic refresh of our segments/businesses, and we have updated the scope of identificationof potential impacts accordingly:
Regions:
PBWM: U.S. Personal Banking (North America); Global Wealth [North America; Europe, Middle East, and Africa (EMEA);
Latin America; Asia]
ICG: North America; EMEA; Latin America; Asia
Core Business Activities:
PBWM: U.S. Personal Banking (Branded Cards, Retail Services, Retail Banking) and Global Wealth (Private Bank, Wealth atWork, Citigold)
ICG: Services (Treasury and Trade Solutions, Securities Services), Markets (Equity Markets, Fixed Income Markets), Banking(Investment Banking, Corporate Lending)Note: Our Legacy Franchises are excluded from this scope, due to our planned exit from these businesses.

Citi 2022 ESG Report

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and Referencesb) Portfolio composition: Has your bank considered the compositionof its portfolio (in %) in the analysis? Please provide proportional
composition of your portfolio globally and per geographical scope

External Referencesi) by sectors & industries for business, corporate and investment banking
portfolios (i.e. sector exposure or industry breakdown in %), and/or

Citi discloses our consumer credit portfolio broken down by business and by geographic distribution (please see page 70 of
the 2022 10-K). For our corporate credit portfolio, we disclose the portfolio exposure mix by industry (please see page 65
of 2022 10-K) as well as outstanding loan amounts across sectors (please see page 66 of 2022 10-K). Citi also provides
a breakdown of its credit exposures and associated levels of climate risk vulnerability in a climate risk credit exposure heatmap (please see pages 54 to 56 of the 2022 TCFD Report).*ii) by products & services and by types of customers for consumer andretail banking portfolios.

*The disclosed exposures in this heat map may have approximately a one-year lag relative to the 10-K.

• 2022 10-K, pages 64-66,
70• 2022 TCFD Report, pages
54-56

If your bank has taken another approach to determine the bank’s scale of
exposure, please elaborate, to show how you have considered where thebank’s core business/major activities lie in terms of industries or sectors.
c) Context: What are the main challenges and priorities related tosustainable development in the main countries/regions in which yourbank and/or your clients operate? Please describe how these havebeen considered, including what stakeholders you have engaged tohelp inform this element of the impact analysis.
This step aims to put your bank’s portfolio impacts into the context
of society’s needs.

Citi 2022 ESG Report

From the engagement described in section 2.1 a), we work to maintain awareness of the most relevant sustainable
development challenges and priorities in the countries and regions in which we operate.

2022 ESG Report

Climate change is one of the significant challenges facing our global society and economy. The Intergovernmental Panelon Climate Change’s (IPCC)’s 6th Assessment Report, originally released in 2021, and subsequent, supplemental
publications, highlight the urgent need to address climate change. Several industry-wide initiatives also identify corporate
lending as a key impact area with the potential to mitigate climate change:• Action for Racial Equity• The Partnership for Carbon Accounting Financials (PCAF) standard was established to assess emissions associatedwith financing, with an initial focus on lending.

• Sustainable Finance

External References• Action for Racial Equity• Action for Racial Equity
Year Two Progress Report• The UNEP FI Guidelines for Climate Target Setting for Banks (“UNEP FI Guidelines”) focus on lending and investment
activities.

• Action for Racial Equity External Audit Report

Citi has also identified economic mobility and financial inclusion as an area where we can have impact and that we havetaken steps to address, including through our $1 Trillion Sustainable Finance Goal (please see page 12 of our 2022
ESG Report) and specific initiatives in the U.S. Within the U.S., we have launched the Citi Access Account, which serves
under-banked households by providing access to low-cost checking products (please see page 95 of our 2022 ESG
report) and we have specifically focused on the racial wealth gap, which has been highlighted in numerous reports,
including the Citi Global Perspectives & Solutions (GPS) report “Closing the Racial Inequality Gaps,” (2020). Specifically,
Citi and the Citi Foundation launched Action for Racial Equity, which includes more than $1 billion in strategic initiatives
to close the racial wealth gap and increase economic mobility in the U.S.

• Banking in Color• Closing the Racial
Inequality Gaps
• IPCC 6th Assessment
ReportPage 110ESG at Citi
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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and References

Based on these first 3 elements of an impact analysis, what positive
and negative impact areas has your bank identified? Which (at leasttwo) significant impact areas did you prioritize to pursue your target
setting strategy (see 2.2)? Please disclose.

Climate Change (negative and positive impact globally):

2022 ESG Report

Given our global presence and our underwriting and lending activity under ICG, Citi has exposure to many carbon-intensive
segments of the economy. As a top lender to the energy sector in particular, Citi has an opportunity to support our clientsin their transition to a low-carbon economy. Climate change is a top-of-mind issue for our company and for many of ourclients. To support our clients’ needs, we continue to expand our expertise, services and products across our business tooffer strategic sustainability and ESG services and solutions. We offer customized products and services to support clientsin their transition to more sustainable business models and practices as they consider strategies for a low-carbon future.
We have reorganized our businesses across the company, with dedicated teams working on the low-carbon transition.
For more details on these dedicated business units, please see the Sustainable Finance Across Citi table on page 22 of our2022 ESG Report.

• ESG at Citi

Financial Inclusion: U.S. Racial Wealth Gap (positive impact):
Citi and the Citi Foundation launched Action for Racial Equity, which includes more than $1 billion in strategic initiatives
to help close the racial wealth gap in the U.S. Considering the potential societal benefits from greater access tofinancial services and credit for households and entrepreneurs, opportunities under Action for Racial Equity that help
close this gap include retail banking activity under PBWM (including the work of our Financial Inclusion and Racial
Equity team*), Citi Impact Fund equity investments, Supplier Diversity and Citi Mortgage, as well as corporate lending
and underwriting activity under ICG, including the work of our Diverse Financial Institutions Group,* and the Citi
Community Capital affordable housing unit. Citi Foundation has also made strategic grants to support organizations
that focus on civil rights, as well as community development finance institutions that provide low-cost and patient
capital to businesses, low and moderate-income communities and communities of color.

• Our $1 Trillion Goal
• Our Net Zero Commitment• Action for Racial Equity• Citi Impact Fund
External References• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit Report• Citi Impact Fund
• Environmental and Social
Policy Framework*For more details on the Diverse Financial Institutions Group and Financial Inclusion and Racial Equity team,please see our response to 2. d) below.

Citi 2022 ESG Report

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and Referencesd) For these (min. two prioritized impact areas): Performancemeasurement: Has your bank identified which sectors & industries
as well as types of customers financed or invested in are causing thestrongest actual positive or negative impacts? Please describe how
you assessed the performance of these, using appropriate indicators
related to significant impact areas that apply to your bank’s context.

Climate Change:

2022 ESG Report

We have employed several methodologies to assess the intensity and salience of climate change impacts. For example,
we publish financed emissions metrics for multiple sectors in our loan portfolios, in accordance with the PCAF standard
and have established emissions reduction targets for our Auto Manufacturing, Commercial Real Estate, Energy,
Power, Steel and Thermal Coal Mining loan portfolios, with intentions to analyze our financed emissions for other carbonintensive sectors in the future. For details, please see the Strategy and Metrics & Targets sections our 2022 TCFD Report.

• Our Net Zero Commitment> 2030 Emissions
Reduction Targets

In determining priority areas for target-setting among its areas of mostsignificant impact, you should consider the bank’s current performancelevels, i.e. qualitative and/or quantitative indicators and/or proxies ofthe social, economic and environmental impacts resulting from thebank’s activities and provision of products and services.

Financial Inclusion: U.S. Racial Wealth Gap:

• Action for Racial Equity

For over 20 years, Citi and the Citi Foundation have invested in organizations and partnerships that support financial
inclusion and expanding economic opportunities for low-income families and communities of color, whose constituents
represent a portion of our retail banking customers. Our efforts span international markets. For example, on page 19 of
our 2022 ESG Report, we detail our recent work to support digital connectivity and financial inclusion in Mexico.

• Risk Management> Environmental and Social
Risk Management

If your bank has taken another approach to assess the intensity of
impact resulting from the bank’s activities and provision of products
and services, please describe this.
The outcome of this step will then also provide the baseline(incl. indicators) you can use for setting targets in two areasof most significant impact.

In 2020, Citi launched Action for Racial Equity to help address drivers of the racial wealth gap and increase economic
mobility in the U.S. Citi core businesses as well as the Citi Foundation committed over $1 billion in strategic initiatives
for the 2020-2023 period.
To help execute on parts of the goals under Action for Racial Equity (alongside existing units such as Citi Mortgage,
Citi Community Capital, Citi Impact Fund and the Supplier Diversity function as well as the Citi Foundation), in 2022,
Citi created the Diverse Financial Institutions Group (DFIG) in the Markets division of ICG.* DFIG is a dedicated teamtasked with leading and expanding firmwide engagement with minority-owned depository institutions (MDIs), diverse
broker-dealers and diverse asset managers. Citi also has an MDI Rotational program that embeds Citi employees in MDIs
for up to a year to share their expertise and help grow the host MDIs’ business.

• Investing in Our
Communities

External References• 2022 TCFD Report• Action for Racial Equity• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit Report

Citi’s U.S. Personal Banking (USPB) team also contributes products and services that provide all of our customers withmore affordable financial solutions, improved access to products and solutions and improved financial education. To
support this work and catalyze further innovation, Citi also created a Financial Inclusion and Racial Equity team* within
USPB in 2022, which is developing targeted and integrated segment strategies and championing greater financial
inclusion, racial equity and customer protection.
Through these engagements, we continue to enhance our understanding of and approach to helping address the racial
wealth gap and its impact on communities.
*For more details on the execution of the Action for Racial Equity, please see the Action for Racial Equity Year Two Progress
Report, pages 43 to 44 of the 2022 ESG Report and the external audit conducted by Covington & Burling.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Reporting and Self-Assessment Requirements

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Response

Assurance

Links and References

Self-assessment summary
Which of the following components of impact analysis has your bank completed, in order to identify the areas in which your bank has its most significant (potential) positive and negative impacts?
Scope: 			Yes  

In progress  

No

Portfolio composition:Yes  

In progress  

No

Context: 			Yes  

In progress  

No

Performance measurement:Yes  

In progress  

No

Which most significant impact areas have you identified for your bank, as a result of the impact analysis?
Climate change, Financial Inclusion: U.S. Racial Wealth Gap
How recent is the data used for and disclosed in the impact analysis?
Up to 6 months prior to publication		Up to 18 months prior to publication

Up to 12 months prior to publication		

Longer than 18 months prior to publication

2.2 Target Setting (Key Step 2)

Climate Change:

2022 ESG ReportShow that your bank has set and published a minimum of two targets
which address at least two different areas of most significant impactthat you identified in your impact analysis.

Net Zero Commitment: In alignment with the goals of the Paris Agreement, we have committed to net zero GHG emissions
for our financing by 2050 and net zero GHG emissions for our operations by 2030. To date, we have set interim, 2030
emissions reduction targets for the following sectors: Auto Manufacturing, Commercial Real Estate, Energy, Power, Steeland Thermal Coal Mining. We also publish our financed emissions in accordance with the PCAF methodology. Our targets
and baselines can be found on page 29 of the 2022 ESG report.

• Our $1 Trillion Goal

The targets have to be Specific, Measurable (qualitative or quantitative),
Achievable, Relevant and Time-bound (SMART). Please disclose thefollowing elements of target setting (a-d), for each target separately:a) Alignment: which international, regional or national policy
frameworks to align your bank’s portfolio with have you identified as
rele-vant? Show that the selected indicators and targets are linked
to and drive alignment with and greater contribution to appropriate
Sustainable Development Goals, the goals of the Paris Agreement,
and other relevant international, national or regional frameworks.
You can build upon the context items under 2.1.

$1 Trillion Sustainable Finance Goal: We have committed $1 trillion to sustainable finance by 2030. This goal will support
innovation and action toward addressing the global challenges outlined in the Paris Agreement and UN SDGs. To counttoward the goal, a transaction must meet established criteria as outlined on page 13 of the 2022 ESG Report. Progress
toward this goal can be found on page 14 of the 2022 ESG report.
Thermal Coal Mining Exposure: Within our Environmental and Social Risk Management (ESRM) Policy, we have included
a commitment to eliminate our exposure to thermal coal mining companies by 2030. We report annually on our progress
toward this commitment and include an interim target to reduce our exposure to half by the end of 2025. Progress
toward this commitment can be found on page 33 of the 2022 ESG report.
Financial Inclusion: U.S. Racial Wealth Gap:
Action for Racial Equity: Citi and the Citi Foundation have committed over $1 billion in strategic initiatives through theend of 2023 to help close the racial wealth gap. Progress toward this commitment can be found on page 44 of the2022 ESG report.

• Our Net Zero Commitment> 2030 Emissions
Reduction Targets• Reducing Climate Risk in
our Financing• Action for Racial Equity
External References• 2022 TCFD Report• Action for Racial Equity• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit ReportSocial criteria under our $1 Trillion Sustainable Finance Goal also include “Economic Inclusion,” and we detail casestudies of transactions contributing to this goal that seek to further financial inclusion on pages 19 and 21 of the 2022
ESG report. As described above, the goal is compatible with the SDGs, and financial inclusion-oriented sustainablefinance activity may support the following SDGS: 1 No poverty; 8 Decent work and economic growth; and 10 Reduced
inequalities, among others.

Citi 2022 ESG Report

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and Referencesb) Baseline: Have you determined a baseline for selected indicators
and assessed the current level of alignment? Please disclose theindicators used as well as the year of the baseline.

The net zero baselines for financing can be found in the 2030 Emissions Reduction Targets table on page 29 of the2022 ESG report.

2022 ESG Report

You can build upon the performance measurement undertaken in
2.1 to determine the baseline for your target.

For financial inclusion, Citi has not set specific baselines, but reports on our activities and progress associated withboth the $1 Trillion Sustainable Finance Goal and Action for Racial Equity.

The Thermal Coal baseline can be found on page 33 of the 2022 ESG report.

• Our Net Zero Commitment> 2030 Emissions
Reduction Targets• Reducing Climate Risk in
our Financing > Portfolio
Analysis and Measurement
External References• 2022 TCFD Report• Action for Racial Equity• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit Reportc) SMART targets (incl. key performance indicators (KPIs): Please disclose the targets for your first and your second area of most significant
impact, if already in place (as well as further impact areas, if in place).
Which KPIs are you using to monitor progress towards reaching thetarget? Please disclose.

Our targets are referenced in section 2.2 a). We are using the following metrics to monitor progress toward these targets:
Net Zero Commitment:
Financed emissions associated with key carbon-intensive sectors$1 Trillion Sustainable Finance Goal:• Our $1 Trillion Goal
• Our Net Zero Commitment> 2030 Emissions
Reduction Targets

Sustainable finance activity broken down by region, criteria and business• Reducing Climate Risk in
our Financing

Thermal Coal Mining Credit Exposure:• Action for Racial Equity

Credit exposure to thermal coal companies in accordance with the criteria under our Environmental andSocial Management (ESRM) policy, summarized publicly in our Environmental and Social Policy Framework

External References

Financial Inclusion: U.S. Racial Wealth Gap:

• 2022 TCFD Report

A variety of metrics may be used to observe progress on our commitments and goals under Action for Racial Equity.
In our 2022 ESG Report, we disclose a number of metrics as a partial update on our progress on page 44.

• Action for Racial Equity

Additionally, refer to progress against social criteria under our $1 Trillion Sustainable Finance Goal, as referenced above.

Citi 2022 ESG Report

2022 ESG Report• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit Report

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and Referencesd) Action plan: Which actions including milestones have you defined
to meet the set targets? Please describe.

We have set the following interim targets for the commitments below:

2022 ESG Report

Please also show that your bank has analyzed and acknowledged
significant (potential) indirect impacts of the set targets within theimpact area or on other impact areas and that it has set out relevant
actions to avoid, mitigate, or compensate potential negative impacts.

Net Zero Commitment:
2030 interim emissions reduction targets for specific loan portfolios. These 2030 targets can be found on page 29of the 2022 ESG report. For a detailed timeline indicating the steps we are taking to achieve these targets, pleasesee page 25 of our 2022 TCFD report.

• Our Net Zero Commitment> 2030 Emissions
Reduction Targets• Reducing Climate Risk in
our Financing

Thermal Coal Mining Exposure:
Reduce exposure to 50% by 2025 relative to a 2020 baseline. Progress toward this commitment can be foundon page 33 of the 2022 ESG report.
Financial Inclusion: U.S. Racial Wealth Gap:
Progress toward the goals and commitments of Action for Racial Equity and contributing workstreams is provided
in our Action for Racial Equity progress reports.

External References• 2022 TCFD Report• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit Report

Self-assessment summary
Which of the following components of target setting in line with the PRB requirements has your bank completed or is currently in a process of assessing for your…
Climate Change

Financial Inclusion: U.S. Racial Wealth Gap

AlignmentYes  

In progress  

No

Yes  

In progress  

No

Baseline

Yes  

In progress  

No

Yes  

In progress  

No

SMART targets

Yes  

In progress  

No

Yes  

In progress  

No

Action planYes  

In progress  

No

Yes  

In progress  

No

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and References

2.3 Target implementation and monitoring (Key Step 2)

Please see year-over-year progress for the metrics listed below.

2022 ESG Report

For each target separately:Show that your bank has implemented the actions it had previously
defined to meet the set target.

Net Zero Commitment:• Emissions associated with key carbon-intensive sectors on pages 28 to 29 of the 2022 ESG report
Please also refer to items below, which aid in operationalizing our Net Zero Plan:

Report on your bank’s progress since the last report towards achieving
each of the set targets and the impact your progress resulted in, using
the indicators and KPIs to monitor progress you have defined under 2.2.
Or, in case of changes to implementation plans (relevant for 2nd andsubsequent reports only): describe the potential changes (changes
to priority impact areas, changes to indicators, acceleration/review oftargets, introduction of new milestones or revisions of action plans)and explain why those changes have become necessary.

• Enhanced timeline for achieving 2030 targets – page 25 of our 2022 TCFD Report• Net Zero Review Template – page 30 of our 2022 TCFD Report• Climate Risk Assessment & Scorecard – page 42 of our 2022 TCFD Report$1 Trillion Sustainable Finance Goal:• Financial performance broken down by region, criteria and business on page 14 of the 2022 ESG report• Environmental and social impacts on page 15 of the 2022 ESG report
Thermal Coal Mining Credit Exposure:• Credit exposure to thermal coal companies on page 33 of the 2022 ESG report• Our $1 Trillion Goal
• Our Net Zero Commitment> Progress Toward Energy
and Power Targets• Our Net Zero Commitment> 2030 Emissions
Reduction Targets• Reducing Climate Risk
in our Financing• Action for Racial Equity> Action for Racial Equity:
An Update on Our Progress
External References

Financial Inclusion: U.S. Racial Wealth Gap:

• 2022 TCFD Report• See “Action for Racial Equity: An Update on our Progress in the U.S.” on page 44 of the 2022 ESG report• Action for Racial Equity• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit Report

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Reporting and Self-Assessment Requirements

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Response

Assurance

Links and References

Principle 3: Clients and Customers
We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
3.1 Client engagement
Does your bank have a policy or engagement process with clientsand customers in place to encourage sustainable practices?
Yes  

In progress  

No

Does your bank have a policy for sectors in which you have identified
the highest (potential) negative impacts?
Yes  

In progress  

No

Describe how your bank has worked with and/or is planning to workwith its clients and customers to encourage sustainable practices
and enable sustainable economic activities. It should include information on relevant policies, actions planned/implemented to supportclients’ transition, selected indicators on client engagement and,
where possible, the impacts achieved.

We have established dedicated teams embedded across our businesses to offer strategic sustainable finance services
and solutions. Our business groups, including Banking, Capital Markets and Advisory; Global Markets; Global WealthManagement; and Treasury and Trade Solutions, all have bankers or teams focused on advising clients and offering
customized ESG-themed products and services. For further details, please see “Sustainable Finance Across Citi” onpage 22 of our 2022 ESG Report. For climate-specific engagements, please see page 29 in our 2022 TCFD Report.
Our Environmental and Social Risk Management (ESRM) Policy guides our approach to engaging with clients on environmental and social risks, to help us finance projects and activities responsibly. Ongoing engagement with our clients is an
important part of our ESRM process. When we first established our ESRM Policy, our engagements were tied to specific,
project-related financial transactions and their associated environmental and social risks and mitigation efforts.
However, as we have developed Sector Approaches and Areas of High Caution over the years, we have added corporatelevel reviews and client engagements in several sectors. These sector-specific risk review processes encourage dialogue
between Citi and our clients about the material environmental and social risks associated with their operations, enabling
us to develop a better understanding of prevailing industry practices and our clients’ performance and provide advice on
more sustainable practices, as needed.

2022 ESG Report• Financing the Low-Carbon
Transition• Risk Management> Environmental andSocial Risk Management
External References• 2022 TCFD Report• Environmental and Social
Policy Framework

This should be based on and in line with the impact analysis, targetsetting and action plans put in place by the bank.
3.2 Business opportunities
Describe what strategic business opportunities in relation to theincrease of positive and the reduction of negative impacts your bankhas identified and/or how you have worked on these in the reporting period. Provide information on existing products and services ,information on sustainable products developed in terms of value (USDor local currency) and/or as a % of your portfolio, and which SDGs or
impact areas you are striving to make a positive impact on (e.g. green
mortgages – climate, social bonds – financial inclusion, etc.).

Citi has announced a goal to finance or facilitate $1 trillion in sustainable finance by 2030. The goal aims to further thetransition to a sustainable, equitable, low-carbon economy that supports society’s environmental, social and economic
needs, consistent with the SDGs. We report on progress toward this goal as well as the associated impacts on pages 14
to 15 of the 2022 ESG Report.
To address the needs of clients involved in energy transition and sustainability, Citi has established a dedicatedClean Energy Transition (CET) group. CET offers corporate and investment banking products and services to help
companies involved in energy transition execute on their business plans and achieve scale. CET is part of our Natural
Resources & Clean Energy Transition (NRCET) group, which also houses our Energy, Power and Chemicals teams that focus
on advising corporate clients on strategic matters, including the energy transition.

2022 ESG Report• Sustainable Finance
External References• 2022 TCFD Report,
pages 27-29

Citi’s Sustainability and Corporate Transitions (SCT) team engages with clients at the C-suite and senior levels, across all
sectors, to support the transition of their businesses to a more sustainable, net zero and nature-positive future. The teamalso engages with mature and early-stage companies that are developing new technologies, innovations and sustainablebusiness models. The SCT team provides solutions to clients including strategic advice, M&A advisory, equity and debt
capital markets services, and corporate banking solutions.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Reporting and Self-Assessment Requirements

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Response

Assurance

Links and References

Principle 4: Stakeholders
We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals.
4.1 Stakeholder identification and consultation
Does your bank have a process to identify and regularly consult,engage, collaborate and partner with stakeholders (or stakeholder
groups) you have identified as relevant in relation to the impact
analysis and target setting process?
Yes  In progress  

No

Citi believes that we are best able to drive business value when we serve the interests of a wide array of stakeholders,
including our shareholders. To fulfill this approach, we regularly review our stakeholder engagements across a rangeof functions, including Enterprise Services and Public Affairs (ESPA), Investor Relations, Human Resources andCorporate Governance, as well as Sustainability & ESG, Government Affairs and other teams in ESPA.
A summary of the groups we have engaged with and the topics discussed is provided in the Stakeholder Engagement
at Citi section of the 2022 ESG Report. We also highlight our climate-related engagement with clients and tradeassociations in our 2022 TCFD Report.

Please describe which stakeholders (or groups/types of stakeholders)
you have identified, consulted, engaged, collaborated or partneredwith for the purpose of implementing the Principles and improving yourbank’s impacts. This should include a high-level overview of how yourbank has identified relevant stakeholders, what issues were addressed/
results achieved and how they fed into the action planning process.

2022 ESG Report• Stakeholder Engagement
at CitiExternal References• 2022 TCFD Report,
pages 29, 33-37

Principle 5: Governance & Culture
We will implement our commitment to these Principles through effective governance and a culture of responsible banking
5.1 Governance Structure for Implementationof the Principles
Does your bank have a governance system in place that incorporates
the PRB?
Yes  

In progress  

No

Please describe the relevant governance structures, policies andprocedures your bank has in place/is planning to put in place tomanage significant positive and negative (potential) impacts andsupport the effective implementation of the Principles. This includes
information about

Our Sustainability & ESG team, in collaboration with partners across the company, is responsible for developing
sustainability and climate-related targets and monitoring progress toward their achievement. Our Chief Sustainability
Officer, Head of Community Investing and Development and other seniors have oversight over target-setting, developmentof goals and commitments, measures put in place to achieve the targets, goals or commitments, as applicable, andrecommending remedial action if necessary where targets are not on track or to address unforeseen negative impacts.

2022 ESG Report• ESG Governance at Citi
> Remuneration
External References

We track our progress toward our targets, goals and commitments and provide reports to the Nomination, Governanceand Public Affairs Committee (NGPAC) and/or the full Board of Directors. The Chief Sustainability Officer and Head ofCommunity Investing and Development periodically report to the Board on progress made in achieving our targets, goals
and commitments, as applicable. Reports are also provided to the Global ESG council on a periodic basis for progress
toward our Action for Racial Equity commitments, $1 Trillion Sustainable Finance Goal and net zero commitment. For
further details on our ESG governance structure, please see pages 6 to 7 of our 2022 ESG Report.

• Which committee has responsibility over the sustainability strategy
as well as targets approval and monitoring (including information
about the highest level of governance the PRB is subjected to),For details on the remuneration practices linked to sustainability targets, please refer to the Remuneration section on
page 7 of our 2022 ESG Report.

• Details about the chair of the committee and the process andfrequency for the board having oversight of PRB implementation(including remedial action in the event of targets or milestones not
being achieved or unexpected negative impacts being detected),
as well as

Note: Our governance processes provide for oversight of the implementation of our key initiatives and targets. In the selfassessment summary at the end of this section, we answer “yes” to the question asking if the CEO or other C-suite officers haveoversight over implementation of the Principles. We note that while there is oversight on initiatives that align with the goals of
the Principles, the Principles themselves are not specifically discussed in review of the issues by these individuals.

• 2022 TCFD Report,
pages 11-16• Action for Racial Equity
Year Two Progress Report• Action for Racial Equity External Audit Report• Remuneration practices linked to sustainability targets.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and References

5.2 Promoting a culture of responsible banking:Code of Conduct:

2022 ESG Report

Describe the initiatives and measures of your bank to foster a cultureof responsible banking among its employees (e.g., capacity building,e-learning, sustainability trainings for client-facing roles, inclusion in
remuneration structures and performance management and leadership communication, amongst others).

Our Code of Conduct outlines the standards of ethics and professional behavior expected of employees and representatives of Citi when dealing with clients, business colleagues, shareholders, communities and each other. It also provides
an overview of select global policies. We provide Code of Conduct training to new hires globally when they join Citi, as
well as to nonemployee contingent workers performing services for Citi at their time of onboarding. Additionally, all Citi
employees receive annual Code of Conduct training.

• ESG Governance at Citi
> Remuneration

Programs and Training:
Anti-Bribery and Corruption:
Citi has policies, procedures and internal controls to comply with anti-bribery laws, and we conduct an annual bribery
risk assessment of all global business lines. We provide our staff with anti-bribery training annually and supplement
it with targeted training and communications as needed. For more information, on this and other relevant programs,
please see “Programs and Training to Combat Financial Crimes” on page 68 of the 2022 ESG Report.
Anti-Money Laundering:
Our AML Program helps protect our clients, our franchise and the global financial system from the risks of money
laundering and terrorist financing. The global program consists of designated AML Country Officers covering every Citi
business, function and geographic area. These specialists partner with various functions, including Compliance, Audit,
Technology and our institutional and consumer businesses, to provide effective enterprise AML risk management andto meet our AML-related requirements at both the global and the local levels.
ESRM Training:
We provide ESRM training to key risk and banking personnel globally, to help them identify potential risks and opportunities
to engage with our ESRM specialist team more effectively. For more information, please see the Environmental and Social
Risk Management section of the 2022 ESG Report.

• Ethics and Culture at Citi
• Risk Management> Managing Corruption
and Tax-Related Risks• Risk Management >Programs and Training to
Combat Financial Crimes• Risk Management> Environmental andSocial Risk Management• Serving Our Customers andClients Responsibly> Treating Customers Fairly
External References:• Citi Code of Conduct• 2022 TCFD Report,
pages 11-16

Serving Our Customers and Clients Responsibly:
We have policies and systems in place to help ensure that we treat customers responsibly and fairly, including our Codeof Conduct, responsible marketing practices, our Treating Customers Fairly Principles, our Global Financial AccessPolicy and our Global Consumer Fairness Policy.
Climate Training:
Citi has launched an enterprise-wide training module on climate risk, which covers key climate risk concepts including:definition of climate risk, emerging climate risk standards, supervisory expectations and an overview of Citi’s efforts todate and initiatives to enhance climate risk management.
Citi recognizes that climate-related training needs to be tailored to different positions and teams (e.g., risk management
employees, frontline bankers and industry teams) where the development of subject matter expertise is imperative. Therefore, in 2022, Citi launched two different training pilots that involved virtual and in-person workshops for colleagues inbanking, risk and global functions. The first pilot focused on foundational knowledge of sustainability and climate science
for a cross-business cohort of Banking, Capital Markets and Advisory (BCMA) bankers. The second of these pilots focusedon a “deeper dive” in assessing transition plans and client engagement, specifically for the Energy and Power portfolios.
Remuneration:
For details on the remuneration practices linked to sustainability targets, please refer to the Remuneration section on
page 7 of our 2022 ESG Report.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and References

5.3 Policies and due diligence processes

Please refer to the description of our ESRM policy in section 3.1 of this index.

2022 ESG Report

Does your bank have policies in place that address environmental andsocial risks within your portfolio? Please describe.

The ESRM policy – including the due diligence processes – is summarized publicly in our Environmental and Social Policy
Framework. We also discuss updates to, and implementation of, the policy on pages 71 to 76 of the 2022 ESG Report.

• Risk Management> Environmental and Social
Risk Management

Please describe what due diligence processes your bank has installed
to identify and manage environmental and social risks associatedwith your portfolio. This can include aspects such as identification ofsignificant/salient risks, environmental and social risks mitigation anddefinition of action plans, monitoring and reporting on risks and any
existing grievance mechanism, as well as the governance structures
you have in place to oversee these risks.

External References:• Environmental and Social
Policy Framework

Self-assessment summary
Does the CEO or other C-suite officers have regular oversight over the implementation of the Principles through the bank’s governance system?
Yes*

No

Does the governance system entail structures to oversee PRB implementation (e.g. incl. impact analysis and target setting, actions to achieve these targets and processes of remedial action in the event targets/milestones
are not achieved or unexpected neg. impacts are detected)?
Yes  

No

Does your bank have measures in place to promote a culture of sustainability among employees (as described in 5.2)?
Yes  

In progress  

No*Our governance processes provide for oversight of the implementation of our key initiatives and targets. We note that while there is oversight on initiatives that align with the goals of the Principles, the Principles themselves
are not specifically discussed in review of the issues by these individuals.

Principle 6: Transparency & Accountability
We will periodically review our individual and collective implementation of these Principles and be transparent about and accountable for our positive and negative impacts and our contribution to society’s goals.
6.1 Assurance
Has this publicly disclosed information on your PRB commitments
been assured by an independent assurer?
Yes  

Partially  

Please refer to the supplemental document at the end of this index, which indicates the items within the scope of
the assurance. Please also refer to the assurance statement on page 125 of our 2022 ESG Report.

2022 ESG Report• UN PRB AssuranceStatementNo

If applicable, please include the link or description of the assurance
statement.

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Reporting and Self-Assessment Requirements

Response

Links and References

6.2 Reporting on other frameworks

Citi prepares our ESG-related disclosures with reference to these frameworks both within our 2022 ESG Report
as well as our 2022 TCFD Report.

2022 ESG Report

Does your bank disclose sustainability information in any of the listed
below standards and frameworks?

• Appendices

GRI

External References:

SASB• 2022 TCFD ReportCDP
IFRS Sustainability Disclosure Standards (to be published)
TCFD Other: UN Guiding Principles Reporting Framework
6.3 Outlook
What are the next steps your bank will undertake in next 12 monthreporting period (particularly on impact analysis, target setting
and governance structure for implementing the PRB)? Please
describe briefly.

Citi continues to engage with stakeholders to keep abreast of our areas of greatest negative and positive impacts.
We continue to make and report on progress toward the stated targets, goals and commitments.

6.4 Challenges
Here is a short section to find out about challenges your bank ispossibly facing regarding the implementation of the Principles for
Responsible Banking. Your feedback will be helpful to contextualise
the collective progress of PRB signatory banks.
What challenges have you prioritized to address when implementing the Principles for Responsible Banking? Please choose what you
consider the top three challenges your bank has prioritized to addressin the last 12 months (optional question).
If desired, you can elaborate on challenges and how you are tacklingthese: Embedding PRB oversight into
governance

Setting targets Gaining or maintaining
momentum in the bank

Customer engagement Getting started: where to start
and what to focus on in the
beginning

Other:…
Stakeholder engagement Data availability Data quality

Conducting an impact analysis

Access to resources Assessing negative environmental and social impacts ­ Assurance Choosing the right performancemeasurement methodology/ies

ReportingPrioritizing actions internallyIf desired, you can elaborate on challenges and how you are tacklingthese:

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Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

Appendices

The Principles for Responsible Banking Index

Assurance

Principles for Responsible Banking (PRB) Reporting and Self-Assessment
Template Supplement(as of December 31, 2022)
Citi prepared and presented the PRB Template
as of December 31, 2022 in accordance with the
PRB Reporting and Self-Assessment Template(v2; published September 2022) and withreference to the UN Environment Programme
Finance Initiative (UNEP FI) PRB Guidance forBanks: Reporting (published in September
2019 and updated in November 2021) (the “PRB
Reporting Instructions”). Instructional footnotes
and optional content were excluded, but relevant
information was included within the Responseand Links and References sections.

Citi 2022 ESG Report

When we reviewed the Principles in relation to
our key business activities and completed the
PRB Template as reproduced in the preceding
section of this report, we concluded that ourdescription of relevant processes, activities
and their outcomes sufficiently reflects actions
taken by Citi, which included considering therelevance, accuracy and understandabilityof information, and that relevant information
has not been distorted. The Template contains
summarized information that has been prepared
to meet the common needs of a broad range
of users and does not therefore include every
aspect of Citi’s systems and processes that eachindividual user may consider important in its
own particular circumstances.

The PRB Reporting Instructions call for limited
assurance on the following four key areas of
the PRB Template within four years of an entity
becoming a PRB signatory.

• 2.1 Impact Analysis (Key Step 1)• 2.2 Target Setting (Key Step 2)• 2.3 Target Implementation and Monitoring(Key Step 2)• 5.1 Governance Structure for Implementationof the Principles
These areas relate to the three key steps which
the Principles require signatories to implement:
Impact Analysis, Target Setting and Reporting.

Please note the following related to the scope ofthe limited assurance:• KPMG, our assurance provider, hasprovided limited assurance only in relation
to certain information in the PRB Templatein accordance with attestation standardsof the American Institute of Certified Public
Accountants (AICPA). Their report appears
on page 125.

• The documents or websites listed under theLinks and References section corresponding
to all responses as well as Citi’s responses
to all Self-assessment Summary boxes areoutside the scope of KPMG’s assurance.

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Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

Building Equitable & Resilient Communities

United Nations Global Compact Index

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

The following metrics related to the selected responses in the PRB template and the “Notes” column below, including Citi’s goals and intentions for assurance of these metrics, are outside the scope of
KPMG’s assurance engagement.

Metrics

SourceReference in Index

Notes

Pages 14 to 15 of 2022 ESG Report

2.2a, 2.2c, 2.3

Citi is currently evaluating the need for third-party assurance for these metrics.

Climate risk credit exposure heat map

Pages 54 to 56 of 2022 TCFD
Report2.1a

Thermal Coal Mining exposure and baseline

Page 33 of 2022 ESG Report

2.2a, 2.2b, 2.2c, 2.2d, 2.32030 emissions reduction targets for select portfolios*

Pages 25 and 29 of 2022 ESG
Report2.1d, 2.2a, 2.2d

Net zero baselines for financed emissions for select portfolios*

Page 29 of 2022 ESG Report

2.2b, 2.2d

Emissions associated with key carbonintensive sectors (financed emissions)*

Pages 28 to 29 of 2022 ESG
Report2.2c, 2.3

Page 44 of 2022 ESG Report

2.2a, 2.2b, 2.2c, 2.2d, 2.3

Sustainable Finance$1 Trillion Sustainable Finance Goal progress

Climate Metrics
Citi is currently evaluating the need for third-party assurance for these metrics.

Net Zero Financed Emissions Metrics

Citi intends to seek assurance for these figures at a future date, as indicated by
the Net Zero Banking Alliance.

Action for Racial Equity
Action for Racial Equity progress

An audit of the design and implementation of Action for Racial Equity was conducted in 2022 by Covington & Burling LLP, a law firm with civil rights expertise inleading racial equity audits across various industries. For details, please see page 43
of our 2022 ESG Report. Details about the methodology and results of the audit areavailable here.

*Includes Auto Manufacturing, Commercial Real Estate, Energy, Power, Steel and Thermal Coal Mining lending portfolios.

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Sustainable Finance

Sustainability Accounting Standards Board Index

The following provides additional context to
Citi’s approach to preparing the PRB Template.
2.1 Impact Analysis
The description of our core business activities,
regions served and portfolio composition (credit
exposure) are derived from our year-end (YE)2022 10-K. More granular details on portfolio
composition are published in the Climate Risk
Heat Map in our 2022 TCFD Report.
The context of potential impacts was determinedby reviewing research and materials from NGOs
and academic institutions, among other sources.
This research was also supplemented by targetedstakeholder engagement sessions.
Our approach to impact analysis is an organic
process that involves multiple concurrent
workstreams and feedback pathways thatkeep us aware of potential emerging issues
and impacts in the areas we serve. We haveidentified climate change globally and economic
mobility and financial inclusion in the U.S.
as two key areas of impact. Progress on key
initiatives related to these areas of impact
are presented to the senior-level ESG Council(which has members from the Executive
Management Team) on a regular basis, and theBoard and relevant committees on at least anannual basis.

Citi 2022 ESG Report

Climate Risk & Net Zero

Sustainable Operations

United Nations Global Compact Index

2.2 Target Setting
As a founding signatory to the Net Zero Banking
Alliance, Citi has set a net zero by 2050
commitment for its financing and has progressively released 2030 emissions reduction targets
for carbon-intensive sectors. The targets are
informed by the UN Guidelines for Climate
Target Setting for Banks, and Citi discloses its
sectoral approach, baselines and strategy toachieve the 2030 targets in its annual TCFD
reports. Likewise, Citi has set targets to reduce
its exposure to thermal coal mining, with theunderstanding that this is a carbon-intensive
sector. Our $1 Trillion Sustainable Finance Goal
also includes criteria that help address climatechange and the transition to a low-carbon
economy.
Baselines have been published for our 2030
emissions reduction targets (either 2020 or
2021, depending on sector). These baselines
leverage the Partnership for Carbon Accounting
Financials (PCAF) methodology and reference
committed, rather than drawn, funds. We also
disclose our thermal coal mining exposurebaseline (YE 2020) and baselines for our operational emissions (YE 2010) within our annual
ESG report disclosures. While these targets
intend to mitigate negative impacts from climatechange, our $1 Trillion Sustainable Finance Goaland Action for Racial Equity seek to facilitate
positive impact via targeted financing and otheractivities and therefore do not have baseline
figures.

Building Equitable & Resilient Communities

Talent & DEI

Responsible Business

AppendicesUnited Nations Guiding Principles Reporting Framework Index

The Principles for Responsible Banking Index

Citi recognizes the potential negative impacts
of a disorderly transition to a low-carbon
economy and has published our Net Zero
Transition Principles, which will guide us in theimplementation of our net zero commitment
and targets.

5.1 Governance Structure for Implementationof the Principles

Our Action for Racial Equity initiative is designed
to help address the racial wealth gap and increase
economic mobility and financial inclusion in the
U.S. by: 1) providing greater access to banking
and credit in communities of color, 2) increasing
investment in Black-owned businesses, 3)
expanding homeownership among Black
Americans and 4) advancing anti-racist practices
in the financial services industry.
2.3 Target implementation and monitoring
Citi publishes metrics associated with its net
zero targets and Action for Racial Equity goals
and commitments on an annual basis. Progress
toward these initiatives is also presented to
the ESG Council on a regular basis.

Assurance

Our governance processes provide for oversightover the elements and initiatives that facilitate
implementation of our key initiatives, targets,goals and commitments. Our governancestructures are detailed in our 2022 ESG Report,
which includes descriptions of oversight fromthe Board, Board committees and the Executive
Management Team, as well as a detailed
diagram of climate governance within the firm.
As described before, target setting, implementation and monitoring of our initiatives arepresented to the Board on at least an annual
basis and to senior-level councils/steeringgroups on a periodic basis. Scorecard elements
pertaining to ESG/Sustainability goals areprepared in coordination with the appropriatecompensation teams and are overseen by theCompensation, Performance Management andCulture Committee of the Board.

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Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Assurance

Citi 2022 ESG Report

Page 125ESG at Citi
GRI Content Index

Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Assurance

Citi 2022 ESG Report

Page 126

ESG at Citi
GRI Content Index

Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Assurance

Citi 2022 ESG Report

Page 127

ESG at Citi
GRI Content Index

Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Assurance

Citi 2022 ESG Report

Page 128

ESG at Citi
GRI Content Index

Sustainable Finance

Climate Risk & Net Zero

Sustainability Accounting Standards Board Index

Sustainable Operations

United Nations Global Compact Index

Building Equitable & Resilient Communities

Talent & DEI

United Nations Guiding Principles Reporting Framework Index

Responsible Business

The Principles for Responsible Banking Index

Appendices
Assurance

Assurance

Citi 2022 ESG Report

Page 129

A Note on Materiality 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 investor andother stakeholder requests, and to further enhance our collective understanding of ESG issues. Our
approaches to the disclosures included in this report differ in significant ways from those included in
mandatory regulatory reporting, including under U.S. Securities and Exchange Commission (SEC) rules
and regulations. Thus, while certain matters discussed in this report may be significant, any significanceshould not be read as necessarily rising to the level of materiality used for the purposes of complying
with the U.S. federal securities laws and regulations, 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 that are difficult to predict and are often beyond our control. These statements are
not guarantees of future results, occurrences, or performance. Actual results and financial outcomesmay differ materially from those included in any of these forward-looking statements due to a variety
of factors, including, but not limited to the precautionary statements included in this report as wellas the following factors: global socio-demographic and economic trends, climate-related conditions
and weather events, energy prices and technological innovations, consumer and client behavior, data
limitations and uncertainty, legislative and regulatory changes, and other unforeseen events or conditions. Other factors that could cause actual results to differ materially from those described in forwardlooking statements can be found in this report, in Citi’s filings with the SEC, including, without limitation, the “Risk Factors” section of Citi’s 2022 Annual Report on Form 10-K. Precautionary statements
included in such filings should be read in conjunction with this document. Any forward-looking statements made by or on behalf of Citi speak only as to the 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 beviewed 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.

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