# EDGAR Filing Document

**Accession Number:** 0000831001
**File Stem:** 0001410578-25-001455
**Filing Date:** 2025-7
**Character Count:** 190000
**Document Hash:** a4e828b7daa56156c55ffb372012a2d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410578-25-001455.hdr.sgml**: 20250715

**ACCESSION NUMBER**: 0001410578-25-001455

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20250715

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250715

**DATE AS OF CHANGE**: 20250715

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITIGROUP INC
- **CENTRAL INDEX KEY:** 0000831001
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 521568099
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-09924
- **FILM NUMBER:** 251123490

**BUSINESS ADDRESS:**
- **STREET 1:** 388 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
- **BUSINESS PHONE:** 2125591000

**MAIL ADDRESS:**
- **STREET 1:** 388 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRAVELERS GROUP INC
- **DATE OF NAME CHANGE:** 19950519

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRAVELERS INC
- **DATE OF NAME CHANGE:** 19940103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRIMERICA CORP /NEW/
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? Citigroup Inc._July 15, 2025

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

### FORM 8-K
**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported) **July 15, 2025**

### Citigroup Inc.
(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **1-9924** | **52-1568099** |
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |
| **388 Greenwich Street, New York,NY**<br>(Address of principal executive offices) |  | **10013**(Zip Code) |

---

**(212) 559-1000**

(Registrant's telephone number,

including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 formatted in Inline XBRL: [See Exhibit 99.3](c-20250715xex99d3.htm)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**CITIGROUP INC.**

**Current Report on Form 8-K**

**Item 2.02 Results of Operations and Financial Condition.**

On July 15, 2025, Citigroup Inc. announced its results for the quarter ended June 30, 2025. A copy of the related press release, filed as Exhibit 99.1 to this Form 8-K, is incorporated herein by reference. The quotation under the heading "CEO Commentary" on page 1 of Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities under that Section. The information included in Exhibit 99.1, other than in the quotation, shall be deemed "filed" for purposes of the Act.

In addition, a copy of the Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended June 30, 2025 is being furnished as Exhibit 99.2 to this Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of the Act or otherwise subject to the liabilities of that section.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit Number** |  |
| 99.1 | [Citigroup Inc. press release dated July 15, 2025.](c-20250715xex99d1.htm) |
| 99.2 | [Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended June 30, 2025.](c-20250715xex99d2.htm) |
| 99.3 | [Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date.](c-20250715xex99d3.htm) |
| 104.1 | See the cover page of this Current Report on Form 8-K, formatted in Inline XBRL. |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  |  | CITIGROUP INC. |
| Dated: July 15, 2025 |  |  |
|  | By: | /s/ Nicole Giles |
|  |  | Nicole Giles |
|  |  | Controller and Chief Accounting Officer |
|  |  | (Principal Accounting Officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| **For Immediate Release**<br>**Citigroup Inc. (NYSE: C)**<br>**July 15, 2025** | ![Graphic](c-20250715xex99d1001.jpg) |
| **SECOND QUARTER 2025 RESULTS AND KEY METRICS** | CEO COMMENTARY<br>|
| **SECOND QUARTER 2025 RESULTS AND KEY METRICS** | *Citi CEO Jane Fraser said, "We reported another very good quarter and continue to demonstrate that our strong results are sustainable through different environments. We're improving the performance of each of our businesses to take share and drive higher returns. With revenue up 8%, Services continues to show why this high-return business is our crown jewel. Markets had its best second quarter performance since 2020 with a record second quarter for Equities. Banking revenues were up 18% and we continue to be at the center of some of the most significant transactions. Wealth revenues were up 20% with solid growth across all three lines of business. In U.S. Personal Banking, we saw good growth in Branded Cards while Retail Banking benefited from higher deposit spreads.*<br>*"We returned $3 billion in capital during the quarter, including $2 billion in share repurchases as part of our $20 billion repurchase plan. I'm particularly pleased that the momentum across our franchise includes the Transformation, as we streamline processes, drive automation and deploy AI.*<br>*"As I've said, next year's 10-11% ROTCE target is a waypoint, not a destination. The actions we've taken have set up Citi to succeed long term, drive returns above that level and continue to create value for shareholders," Ms. Fraser concluded.* |
| **RETURNED ~$3.1 BILLION IN THE FORM OF COMMON DIVIDENDS AND SHARE REPURCHASES**<br>**PAYOUT RATIO OF 82%**<sup>(3)</sup><br>**BOOK VALUE PER SHARE OF $106.94**<br>**TANGIBLE BOOK VALUE PER SHARE OF $94.16**<sup>(4)</sup><br>New York, July 15, 2025 – Citigroup Inc. today reported net income for the second quarter 2025 of $4.0 billion, or $1.96 per diluted share, on revenues of $21.7 billion. This compares to net income of $3.2 billion, or $1.52 per diluted share, on revenues of $20.0 billion for the second quarter 2024. <br>Revenues increased 8% from the prior-year period, on a reported basis, driven by growth in each of Citi's five interconnected businesses, partially offset by a decline in *All Other*. Excluding divestiture-related impacts in both periods<sup>(5)</sup>, revenues were up 9%. <br>Net income was $4.0 billion, compared to $3.2 billion in the prior-year period, driven by the higher revenues, partially offset by higher cost of credit and higher expenses.<br>Earnings per share of $1.96 increased from $1.52 per diluted share in the prior-year period, reflecting the higher net income and lower shares outstanding. <br>Percentage comparisons throughout this press release are calculated for the second quarter 2025 versus the second quarter 2024, unless otherwise specified. | *Citi CEO Jane Fraser said, "We reported another very good quarter and continue to demonstrate that our strong results are sustainable through different environments. We're improving the performance of each of our businesses to take share and drive higher returns. With revenue up 8%, Services continues to show why this high-return business is our crown jewel. Markets had its best second quarter performance since 2020 with a record second quarter for Equities. Banking revenues were up 18% and we continue to be at the center of some of the most significant transactions. Wealth revenues were up 20% with solid growth across all three lines of business. In U.S. Personal Banking, we saw good growth in Branded Cards while Retail Banking benefited from higher deposit spreads.*<br>*"We returned $3 billion in capital during the quarter, including $2 billion in share repurchases as part of our $20 billion repurchase plan. I'm particularly pleased that the momentum across our franchise includes the Transformation, as we streamline processes, drive automation and deploy AI.*<br>*"As I've said, next year's 10-11% ROTCE target is a waypoint, not a destination. The actions we've taken have set up Citi to succeed long term, drive returns above that level and continue to create value for shareholders," Ms. Fraser concluded.* |

---

------

<u>Second Quarter Financial Results</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Citigroup <br>($ in millions, except per share amounts and as otherwise noted)** | **2Q'25** | **1Q'25** | **2Q'24** | ***QoQ%*** | ***YoY%*** |
| **Total revenues, net of interest expense** | **21668** | **21596** | **20032** | *-* | ***8%*** |
| **Total operating expenses** | **13577** | **13425** | **13246** | ***1%*** | ***2%*** |
| &nbsp;&nbsp;Net credit losses | 2234 | 2459 | 2283 | *(9)%* | *(2)%* |
| &nbsp;&nbsp;Net ACL build / (release)<sup>(a)</sup> | 224 | 210 | 68 | *7%* | *229%* |
| &nbsp;&nbsp;Other provisions<sup>(b)</sup> | 414 | 54 | 125 | *NM* | *231%* |
| **Total cost of credit** | **2872** | **2723** | **2476** | ***5%*** | ***16%*** |
| **Income (loss) from continuing operations before taxes** | **5219** | **5448** | **4310** | ***(4)%*** | ***21%*** |
| Provision for income taxes | 1186 | 1340 | 1047 | *(11)%* | *13%* |
| **Income (loss) from continuing operations** | **4033** | **4108** | **3263** | ***(2)%*** | ***24%*** |
| Income (loss) from discontinued operations, net of taxes | *-* | (1) | *-* | *100%* | *-* |
| Net income attributable to non-controlling interest | 14 | 43 | 46 | *(67)%* | *(70)%* |
| **Citigroup's net income (loss)** | **4019** | **4064** | **3217** | ***(1)%*** | ***25%*** |
|  |  |  |  |  |  |
| EOP loans ($B) | 725 | 702 | 688 | *3%* | *5%* |
| EOP assets ($B) | 2623 | 2572 | 2406 | *2%* | *9%* |
| EOP deposits ($B) | 1358 | 1316 | 1278 | *3%* | *6%* |
|  |  |  |  |  |  |
| **Book value per share** | **106.94** | **103.90** | **99.70** | ***3%*** | ***7%*** |
| **Tangible book value per share**<sup>(4)</sup> | **94.16** | **91.52** | **87.53** | ***3%*** | ***8%*** |
| **Common Equity Tier 1 (CET1) Capital ratio**<sup>(2)</sup> | **13.5%** | **13.4%** | **13.6%** |  |  |
| **Supplementary Leverage ratio (SLR)**<sup>(2)</sup> | **5.5%** | **5.8%** | **5.9%** |  |  |
| **Return on average common equity (ROCE)** | **7.7%** | **8.0%** | **6.3%** |  |  |
| **Return on average tangible common equity (RoTCE)**<sup>(1)</sup> | **8.7%** | **9.1%** | **7.2%** | ***(40) bps*** | ***150 bps*** |

---

(a) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(b) Includes provisions on Other Assets, policyholder benefits and claims and HTM debt securities.

<u>Citigroup</u>

**Citigroup revenues** of $21.7 billion in the second quarter 2025 increased 8%, on a reported basis, driven by growth in each of Citi's five interconnected businesses, partially offset by a decline in *All Other*. Excluding the divestiture-related impacts in both periods<sup>(5)</sup>, revenues were up 9%. Net interest income increased 12%, driven by *Markets*, *Services, U.S. Personal Banking (USPB)*, *Wealth* and *Banking*, partially offset by a decline in *All Other*. Non-interest revenue decreased 1%, driven by *All Other, USPB, Markets* and *Services*, offset by increases in *Banking* and *Wealth*.

**Citigroup operating expenses** of $13.6 billion were up 2% on a reported basis, driven by higher compensation and benefits expenses, largely offset by lower tax-related and deposit insurance costs as well as the absence of the civil money penalties in the prior-year period. The higher compensation and benefits expenses were driven by higher severance of approximately $400 million, primarily related to the realignment of the technology workforce, higher volume and other revenue-related expenses and higher investments in Citi's transformation and technology, with productivity savings and stranded cost reductions partially offsetting continued investments in the businesses. Excluding divestiture-related impacts in both periods<sup>(6)</sup>, expenses were up 3%.

**Citigroup cost of credit** of $2.9 billion increased 16%, driven by a higher net build in the allowance for credit losses (ACL) related to deterioration in the macroeconomic outlook in the current quarter relative to the prior-year period and a net ACL build related to transfer risk associated with client activity in Russia, largely offset by a lower net ACL build for volume and lower net credit losses in the card portfolios in *USPB.*

**Citigroup net income** was $4.0 billion in the second quarter 2025, compared to net income of $3.2 billion in the prior-year period, driven by the higher revenues, partially offset by the higher expenses and the higher cost of credit. Citigroup's effective tax rate decreased to approximately 23% in the current quarter from 24% in the second quarter 2024, largely due to the resolution of a tax audit.

**Citigroup's total allowance for credit losses** was approximately $23.7 billion at quarter end, compared to $21.8 billion at the end of the prior-year period. Total ACL on loans was approximately $19.1 billion at quarter end, compared to $18.2 billion at the

------

end of the prior-year period, with a reserve-to-funded loans ratio of 2.67%, down from 2.68% in the prior-year period. Total non-accrual loans increased 49% from the prior-year period to $3.4 billion. Corporate non-accrual loans increased 73% from the prior-year period to $1.7 billion, primarily driven by idiosyncratic downgrades, primarily in *Markets*. Consumer non-accrual loans increased 30% from the prior-year period to $1.6 billion, primarily driven by *Wealth*, primarily due to residential mortgage loans impacted by the California wildfires.

**Citigroup's end-of-period loans** were $725.3 billion at quarter end, up 5% versus the prior-year period, driven by higher loans in *Markets*, in Retail Banking and Branded Cards in *USPB* and in *Services,* partially offset by lower loans in *Banking*.

**Citigroup's end-of-period deposits** were approximately $1.4 trillion at quarter end, up 6% versus the prior-year period, driven by increases in *Services* and *USPB*, partially offset by lower deposits in *Wealth*, *Markets*, and *All Other*.

**Citigroup's book value** per share of $106.94 at quarter end increased 7% versus the prior-year period, and tangible book value per share of $94.16 at quarter end increased 8% versus the prior-year period. The increases reflected net income, common share repurchases and beneficial net movements in accumulated other comprehensive income (AOCI), partially offset by the payment of common and preferred dividends. At quarter end, Citigroup's preliminary CET1 Capital ratio was 13.5% versus 13.4% at the end of the prior quarter, driven by net income, beneficial net movements in AOCI and lower deferred tax assets, partially offset by the payment of common and preferred dividends as well as common share repurchases and higher risk-weighted assets. Citigroup's Supplementary Leverage ratio for the second quarter 2025 was 5.5% versus 5.8% in the prior quarter. During the quarter, Citigroup returned approximately $3.1 billion to common shareholders in the form of dividends and share repurchases.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Services<br>($ in millions, except as otherwise noted)** | **2Q'25** | **1Q'25** | **2Q'24** | ***QoQ%*** | ***YoY%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 2949 | 2865 | 2629 | *3%* | *12%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 725 | 775 | 797 | *(6)%* | *(9)%* |
| &nbsp;&nbsp;**Treasury and Trade Solutions** | **3674** | **3640** | **3426** | ***1%*** | ***7%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 681 | 633 | 596 | *8%* | *14%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 707 | 616 | 653 | *15%* | *8%* |
| &nbsp;&nbsp;**Securities Services** | **1388** | **1249** | **1249** | ***11%*** | ***11%*** |
| **Total Services revenues**<sup>(a)</sup> | **5062** | **4889** | **4675** | ***4%*** | ***8%*** |
| **Total operating expenses** | **2679** | **2584** | **2729** | ***4%*** | ***(2)%*** |
| &nbsp;&nbsp;Net credit losses | 20 | 6 | *-* | *233%* | *NM* |
| &nbsp;&nbsp;Net ACL build / (release)<sup>(b)</sup> | 47 | 18 | (98) | *161%* | *NM* |
| &nbsp;&nbsp;Other provisions<sup>(c)</sup> | 286 | 27 | 71 | *NM* | *303%* |
| **Total cost of credit** | **353** | **51** | **(27)** | ***NM*** | ***NM*** |
| **Net income** | $**1432** | $**1595** | $**1471** | ***(10)%*** | ***(3)%*** |
| **Services Key Statistics and Metrics ($B)** |  |  |  |  |  |
| &nbsp;&nbsp;Allocated Average TCE<sup>(d)</sup> | 25 | 25 | 25 | *-* | *(1)%* |
| &nbsp;&nbsp;RoTCE<sup>(d)</sup> | 23.3% | 26.2% | 23.8% | *(290) bps* | *(50) bps* |
| &nbsp;&nbsp;Average loans | 94 | 87 | 82 | *8%* | *15%* |
| &nbsp;&nbsp;Average deposits | 857 | 826 | 804 | *4%* | *7%* |
| &nbsp;&nbsp;Cross border transaction value | 101 | 95 | 93 | *7%* | *9%* |
| &nbsp;&nbsp;US dollar clearing volume (#MM)<sup>(e)</sup> | 44 | 43 | 42 | *4%* | *6%* |
| &nbsp;&nbsp;Commercial card spend volume | 18 | 17 | 18 | *4%* | *(1)%* |
| &nbsp;&nbsp;Assets under custody and/or administration (AUC/AUA) ($T)<sup>(f)</sup> | 28 | 26 | 24 | *8%* | *17%* |

---

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

(b) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(c) Includes provisions on Other Assets and for HTM debt securities.

(d) TCE and RoTCE are non-GAAP financial measures. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

(e) U.S. dollar clearing volume is defined as the number of USD clearing payment instructions processed by Citi on behalf of U.S. and foreign-domiciled entities (primarily financial institutions). Amounts in the table are stated in millions of payment instructions processed.

(f) 2Q25 is preliminary.

------

<u>Services</u>

***Services* revenues** of $5.1 billion were up 8%, driven by growth in Treasury and Trade Solutions (TTS), which continued to gain market share, and Securities Services. Net interest income increased 13%, driven by an increase in average deposit and loan balances, as well as higher deposit spreads, partially offset by lower loan spreads. Non-interest revenue declined 1%, driven by higher lending revenue share with *Banking*, primarily offset by the benefit of continued strength in underlying fee drivers across the businesses, particularly cross-border transaction value, assets under custody and administration and U.S. dollar clearing volume.

**Treasury and Trade Solutions revenues** of $3.7 billion were up 7%, driven by a 12% increase in net interest income, partially offset by a 9% decrease in non-interest revenue. The increase in net interest income was driven by the higher deposit spreads as well as the increases in deposit and loan balances, partially offset by the lower loan spreads. The decrease in non-interest revenue was driven by the impact of the higher lending revenue share, partially offset by fee growth driven by an increase in cross-border transaction value of 9% and an increase in U.S. dollar clearing volume of 6%.

**Securities Services revenues** of $1.4 billion were up 11%, driven by a 14% increase in net interest income and an 8% increase in non-interest revenue. The increase in net interest income was driven by higher deposit volumes. The increase in non-interest revenue was driven by fee growth stemming from the increase in assets under custody and administration, as well as higher levels of corporate action activity in Issuer Services.

***Services* operating expenses** of $2.7 billion decreased 2%, driven by the absence of tax- and legal-related expenses in the prior-year period, largely offset by higher compensation and benefits expenses, including severance, as well as technology investments.

***Services* cost of credit** was $353 million, compared to a benefit of $(27) million in the prior-year period, driven by a net ACL build in the current period compared with a net ACL release in the prior-year period. The net ACL build was primarily related to transfer risk associated with client activity in Russia.

***Services* net income** of $1.4 billion decreased 3%, driven by the higher cost of credit, offset by the higher revenues and the lower expenses.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Markets<br>($ in millions, except as otherwise noted)** | **2Q'25** | **1Q'25** | **2Q'24** | ***QoQ%*** | ***YoY%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Rates and currencies | 3134 | 3048 | 2466 | *3%* | *27%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Spread products / other fixed income | 1134 | 1429 | 1098 | *(21)%* | *3%* |
| &nbsp;&nbsp;**Fixed Income markets** | **4268** | **4477** | **3564** | ***(5)%*** | ***20%*** |
| &nbsp;&nbsp;**Equity markets** | **1611** | **1509** | **1522** | ***7%*** | ***6%*** |
| **Total Markets revenues**<sup>(a)</sup> | **5879** | **5986** | **5086** | ***(2)%*** | ***16%*** |
| **Total operating expenses** | **3509** | **3468** | **3305** | ***1%*** | ***6%*** |
| &nbsp;&nbsp;Net credit losses | 8 | 142 | 66 | *(94)%* | *(88)%* |
| &nbsp;&nbsp;Net ACL build / (release)<sup>(b)</sup> | 45 | 57 | (109) | *(21)%* | *NM* |
| &nbsp;&nbsp;Other provisions<sup>(c)</sup> | 55 | 2 | 32 | *NM* | *72%* |
| **Total cost of credit** | **108** | **201** | **(11)** | ***(46)%*** | ***NM*** |
| **Net income** | $**1728** | $**1782** | $**1443** | ***(3)%*** | ***20%*** |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
| **Markets Key Statistics and Metrics ($B)** |  |  |  |  |  |
| &nbsp;&nbsp;Allocated Average TCE<sup>(d)</sup> | 50 | 50 | 54 | *-* | *(7)%* |
| &nbsp;&nbsp;RoTCE<sup>(d)</sup> | 13.8% | 14.3% | 10.7% | *(50) bps* | *310 bps* |
| &nbsp;&nbsp;Average trading account assets | 549 | 476 | 426 | *15%* | *29%* |
| &nbsp;&nbsp;Average Loans | 136 | 128 | 119 | *6%* | *14%* |
| &nbsp;&nbsp;Average VaR ($ in MM)<sup>(e)</sup> | 117 | 118 | 113 | *(1)* | *4%* |

---

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

(b) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(c) Includes provisions on Other Assets and HTM debt securities.

(d) TCE and RoTCE are non-GAAP financial measures. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

(e) VaR estimates, at a 99% confidence level, the potential decline in the value of a position or a portfolio under normal market conditions assuming a one-day holding period. VaR statistics, which are based on historical data, can be materially different across firms due to differences in portfolio composition, VaR methodologies and model parameters.

<u>Markets</u>

***Markets* revenues** of $5.9 billion increased 16%, driven by growth in both Fixed Income and Equity markets revenues.

**Fixed Income markets revenues** of $4.3 billion increased 20%, driven by growth across rates and currencies as well as spread products and other fixed income. Rates and currencies revenues increased 27%, driven by increased client activity and monetization with both corporate and financial institution clients. Spread products and other fixed income revenues increased 3%, driven by higher financing activity and loan growth, partially offset by lower credit trading.

**Equity markets revenues** of $1.6 billion increased 6%, driven by momentum in prime services, with record prime balances<sup>(7)</sup> up approximately 27%, as well as higher client activity and volumes in cash equities and monetization of market activity in derivatives, partially offset by the absence of gains related to the Visa B share exchange in the prior-year period.

***Markets* operating expenses** of $3.5 billion increased 6%, largely driven by higher volume and other revenue-related expenses.

***Markets* cost of credit** was $108 million, compared to a benefit of $(11) million in the prior-year period, driven by a net ACL build due to portfolio composition changes, including exposure growth in the current period, compared to an ACL release in the prior-year period, partially offset by lower net credit losses.

***Markets* net income** was $1.7 billion, compared to a net income of $1.4 billion in the prior-year period, driven by the higher revenues, partially offset by the higher expenses and the higher cost of credit.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Banking<br>($ in millions, except as otherwise noted)** | **2Q'25** | **1Q'25** | **2Q'24** | ***QoQ%*** | ***YoY%*** |
| &nbsp;&nbsp;&nbsp;Investment Banking | 981 | 1035 | 853 | *(5)%* | *15%* |
| &nbsp;&nbsp;&nbsp;Corporate Lending<sup>(a)</sup> | 1002 | 903 | 765 | *11%* | *31%* |
| **Total Banking revenues**<sup>(a)(b)</sup> | **1983** | **1938** | **1618** | ***2%*** | ***23%*** |
| &nbsp;&nbsp;&nbsp;Gain / (loss) on loan hedges<sup>(a)</sup> | (62) | 14 | 9 | *NM* | *NM* |
| **Total Banking revenues including gain/(loss) on loan hedges**<sup>(a)</sup> | **1921** | **1952** | **1627** | ***(2)%*** | ***18%*** |
| **Total operating expenses** | **1137** | **1034** | **1131** | ***10%*** | ***1%*** |
| &nbsp;&nbsp;&nbsp;Net credit losses | 16 | 34 | 40 | *(53)%* | *(60)%* |
| &nbsp;&nbsp;&nbsp;Net ACL build / (release)<sup>(c)</sup> | 139 | 185 | (60) | *(25)%* | *NM* |
| &nbsp;&nbsp;&nbsp;Other provisions<sup>(d)</sup> | 18 | (5) | (12) | *NM* | *NM* |
| **Total cost of credit** | **173** | **214** | **(32)** | ***(19)%*** | ***NM*** |
| **Net income** | $**463** | $**543** | $**406** | ***(15)%*** | ***14%*** |
|  |  |  |  |  |  |
| **Banking Key Statistics and Metrics** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Allocated Average TCE<sup>(e)</sup> ($B) | 21 | 21 | 22 | *-* | *(6)%* |
| &nbsp;&nbsp;&nbsp;RoTCE<sup>(e)</sup> | 9.0% | 10.7% | 7.5% | *(170) bps* | *150 bps* |
| &nbsp;&nbsp;&nbsp;Average loans ($B) | 84 | 82 | 89 | *2%* | *(6)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory | 408 | 424 | 268 | *(4)%* | *52%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity underwriting | 218 | 127 | 174 | *72%* | *25%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt underwriting | 432 | 553 | 493 | *(22)%* | *(12)%* |
| &nbsp;&nbsp;&nbsp;Investment Banking fees | 1058 | 1104 | 935 | *(4)%* | *13%* |

---

Note: Please refer to the Appendices and Footnotes at the end of this press release for additional information.

(a) Excludes gain / (loss) on credit derivatives as well as the mark-to-market on loans at fair value. For additional information, see Footnote 8.

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

(c) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(d) Includes provisions on Other Assets and HTM debt securities.

(e) TCE and RoTCE are non-GAAP financial measures. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

<u>Banking</u>

***Banking* revenues** of $1.9 billion increased 18%, driven by growth in Corporate Lending, excluding mark-to-market gain/(loss) on loan hedges<sup>(8)</sup> and Investment Banking, partially offset by the impact of a mark-to-market loss on loan hedges.

**Investment Banking revenues** of $981 million increased 15%, driven by an increase in Investment Banking fees of 13%, reflecting growth in Advisory and Equity Capital Markets (ECM), partially offset by a decline in Debt Capital Markets (DCM). Advisory fees increased 52%, as the business gained share across a multitude of sectors and with financial sponsors. ECM fees were up 25% driven by strength in convertibles and initial public offerings (IPOs). DCM fees were down 12% as Citi's investment grade volumes decreased compared to very strong performance in the prior-year period, partially offset by continued share gains in leveraged finance.

**Corporate Lending revenues** of $1.0 billion, excluding mark-to-market on loan hedges<sup>(8)</sup>, increased 31%, primarily driven by increases in lending revenue share.

***Banking* operating expenses** of $1.1 billion increased 1%, driven by higher volume and other revenue-related expenses and continued business investments, primarily offset by the benefits of prior repositioning actions.

***Banking* cost of credit** was $173 million, compared to a benefit of $(32) million in the prior-year period, driven by a net ACL build related to changes in portfolio composition, compared to an ACL release in the prior-year period, partially offset by lower net credit losses.

***Banking* net income** of $463 million increased 14%, driven by the higher revenue, largely offset by the higher cost of credit.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Wealth <br>($ in millions, except as otherwise noted)** | **2Q'25** | **1Q'25** | **2Q'24** | ***QoQ%*** | ***YoY%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Private Bank | 731 | 664 | 611 | *10%* | *20%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth at Work | 221 | 268 | 195 | *(18)%* | *13%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigold | 1214 | 1164 | 1001 | *4%* | *21%* |
| **Total revenues, net of interest expense** | **2166** | **2096** | **1807** | ***3%*** | ***20%*** |
| **Total operating expenses** | **1558** | **1639** | **1535** | ***(5)%*** | ***1%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses | 40 | 38 | 35 | *5%* | *14%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Net ACL build / (release)<sup>(a)</sup> | (66) | 60 | (43) | *NM* | *(53)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Other provisions<sup>(b)</sup> | *-* | *-* | (1) | *-* | *100%* |
| **Total cost of credit** | **(26)** | **98** | **(9)** | ***NM*** | ***(189)%*** |
| **Net income** | $**494** | $**284** | $**210** | ***74%*** | ***135%*** |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
| **Wealth Key Statistics and Metrics ($B)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Allocated Average TCE<sup>(c)</sup> | 12 | 12 | 13 | *-* | *(7)%* |
| &nbsp;&nbsp;&nbsp;RoTCE<sup>(c)</sup> | 16.1% | 9.4% | 6.4% | *670 bps* | *970 bps* |
|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans | 151 | 147 | 150 | *2%* | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | 310 | 309 | 318 | *-* | *(3)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Client investment assets<sup>(d)</sup> | 635 | 595 | 541 | *7%* | *17%* |
| &nbsp;&nbsp;&nbsp;EOP client balances | 1096 | 1051 | 1009 | *4%* | *9%* |

---

(a) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(b) Includes provisions on Other Assets and policyholder benefits and claims.

(c) TCE and RoTCE are non-GAAP financial measures. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

(d) Includes assets under management, and trust and custody assets. 2Q25 Client investment assets are preliminary.

<u>Wealth</u> 

***Wealth* revenues** of $2.2 billion increased 20%, driven by growth across Citigold, the Private Bank and Wealth at Work. Net interest income of $1.3 billion increased 22%, driven by higher deposit spreads, partially offset by lower mortgage spreads and lower deposit balances. Non-interest revenue of $888 million increased 17%, driven by a gain on sale of an alternative investments fund platform and higher investment fee revenues, with client investment assets up 17%.

**Private Bank revenues** of $731 million increased 20%, driven by the sale of the alternative investments fund platform, the higher deposit spreads and the higher investment fee revenues, partially offset by the lower mortgage spreads.

***Wealth* at Work revenues** of $221 million increased 13%, driven by the higher deposit spreads, largely offset by the lower mortgage spreads.

**Citigold revenues** of $1.2 billion increased 21%, driven by the higher deposit spreads, the higher investment fee revenues and higher lending revenues, partially offset by the lower deposit balances. The decrease in deposit balances reflected higher tax payments and other operating outflows as well as a shift in deposits to higher-yielding investments on Citi's Wealth platform, partially offset by the deposit impact from client transfers from *USPB*<sup>(9)</sup>.

***Wealth* operating expenses** of $1.6 billion increased 1% from the prior-year period, driven by higher volume and other revenue-related expenses, episodic items and higher severance, primarily offset by benefits from prior repositioning actions and lower deposit insurance costs.

***Wealth* cost of credit** was a benefit of $(26) million, compared to a benefit of $(9) million in the prior-year period.

***Wealth* net income** was $494 million, compared to $210 million in the prior-year period, driven by the higher revenues, partially offset by the higher expenses.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **USPB**<br>**($ in millions, except as otherwise noted)** | **2Q'25** | **1Q'25** | **2Q'24** | ***QoQ%*** | ***YoY%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Branded Cards | 2822 | 2892 | 2536 | *(2)%* | *11%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Services | 1649 | 1675 | 1735 | *(2)%* | *(5)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Banking | 648 | 661 | 561 | *(2)%* | *16%* |
| **Total revenues, net of interest expense** | **5119** | **5228** | **4832** | ***(2)%*** | ***6%*** |
| **Total operating expenses** | **2381** | **2442** | **2355** | ***(2)%*** | ***1%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses | 1889 | 1983 | 1931 | *(5)%* | *(2)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Net ACL build / (release)<sup>(a)</sup> | (5) | (171) | 382 | *97%* | *NM* |
| &nbsp;&nbsp;&nbsp;&nbsp;Other provisions<sup>(b)</sup> | 1 | (1) | 2 | *NM* | *(50)%* |
| **Total cost of credit** | **1885** | **1811** | **2315** | ***4%*** | ***(19)%*** |
| **Net income** | $**649** | $**745** | $**121** | ***(13)%*** | ***436%*** |
|  |  |  |  |  |  |
| **USPB Key Statistics and Metrics ($B)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Allocated average TCE<sup>(c)</sup> | 23 | 23 | 25 | *-* | *(7)%* |
| &nbsp;&nbsp;&nbsp;RoTCE<sup>(c)</sup> | 11.1% | 12.9% | 1.9% | *(180) bps* | *920 bps* |
| &nbsp;&nbsp;&nbsp;Average loans | 217 | 216 | 206 | *-* | *5%* |
| &nbsp;&nbsp;&nbsp;Average deposits | 90 | 89 | 93 | *1%* | *(3)%* |
| &nbsp;&nbsp;&nbsp;US credit card average loans | 165 | 164 | 160 | *-* | *3%* |
| &nbsp;&nbsp;&nbsp;US credit card spend volume | 159 | 144 | 155 | *10%* | *3%* |
| &nbsp;&nbsp;&nbsp;New credit cards account acquisitions (in thousands) | 3255 | 2840 | 3178 | *15%* | *2%* |

---

(a) Includes credit reserve build / (release) for loans.

(b) Includes provisions on policyholder benefits and claims and Other Assets.

(c) TCE and RoTCE are non-GAAP financial measures. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

<u>U.S. Personal Banking (USPB)</u>

***USPB* revenues** of $5.1 billion increased 6%, driven by growth in Branded Cards and Retail Banking, partially offset by a decline in Retail Services. Net interest income increased 7%, driven by net interest margin expansion and loan growth in Branded Cards as well as higher deposit spreads in Retail Banking. Non-interest revenue decreased 30%, largely driven by higher partner payment accruals in Retail Services.

**Branded Cards revenues** of $2.8 billion increased 11%, driven by the net interest margin expansion and the growth of interest-earning balances, which were up 7%.

**Retail Services revenues** of $1.6 billion decreased 5%, largely driven by the higher partner payment accruals due to lower net credit losses.

**Retail Banking revenues** of $648 million increased 16%, driven by the impact of higher deposit spreads.

***USPB* operating expenses** of $2.4 billion increased 1% from the prior-year period.

***USPB* cost of credit** was $1.9 billion, compared to $2.3 billion in the prior-year period. The decrease was driven by a net ACL release in the current period, compared to a net ACL build in the prior-year period, and lower net credit losses in the cards portfolios. The net ACL release in the current period reflected improvements in quality, including seasonal mix changes, offset by deterioration in the macroeconomic outlook and loan growth. The decline in net credit losses was driven by Retail Services, partially offset by higher net credit losses in Branded Cards, reflecting loan growth.

***USPB* net income** of $649 million increased 436%, driven by the lower cost of credit and the higher revenues.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **All Other (Managed Basis)** <sup>(a) (b)</sup>**<br>($ in millions, except as otherwise noted)** | **2Q'25** | **1Q'25** | **2Q'24** | ***QoQ%***  | ***YoY%*** |
| &nbsp;&nbsp;&nbsp;Legacy Franchises (managed basis) | 1691 | 1621 | 1719 | *4%* | *(2)%* |
| &nbsp;&nbsp;&nbsp;Corporate / Other | 7 | (176) | 253 | *NM* | *(97)%* |
| **Total revenues** | **1698** | **1445** | **1972** | ***18%*** | ***(14)%*** |
| **Total operating expenses** | **2276** | **2224** | **2106** | ***2%*** | ***8%*** |
| &nbsp;&nbsp;&nbsp;Net credit losses | 256 | 256 | 214 | *-* | *20%* |
| &nbsp;&nbsp;&nbsp;Net ACL build / (release)<sup>(c)</sup> | 64 | 72 | (4) | *(11)%* | *NM* |
| &nbsp;&nbsp;&nbsp;Other provisions<sup>(d)</sup> | 54 | 31 | 33 | *74%* | *64%* |
| **Total cost of credit** | **374** | **359** | **243** | ***4%*** | ***54%*** |
| **Net (loss)** | $**(567)** | $**(870)** | $**(402)** | ***35%*** | ***(41)%*** |
| **All Other Key Statistics and Metrics ($B)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Allocated Average TCE<sup>(e)</sup> | 41 | 38 | 27 | *7%* | *51%* |

---

(a) Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

(b) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Banamex within Legacy Franchises. For additional information, please refer to Footnote 10.

(c) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(d) Includes provisions on Other Assets and policyholder benefits and claims.

(e) TCE is a non-GAAP financial measure. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citi's total average TCE, total average stockholders' equity, and RoTCE by Segment, see Appendices H and I.

<u>All Other</u> **(Managed Basis)**<sup>(10)</sup>

***All Other* (managed basis) revenues** of $1.7 billion decreased 14%, driven by lower net interest income as well as lower revenue related to closed exits and wind-downs and the impact of Mexican peso depreciation.

**Legacy Franchises (managed basis)**<sup>(10)</sup> **revenues** of $1.7 billion decreased 2%, driven by lower revenue related to the closed exits and wind-downs and the impact of the Mexican peso depreciation largely offset by higher lending and deposit volumes in Banamex.

**Corporate/Other revenues** of $7 million decreased from $253 million in the prior-year period, driven by lower net interest income due to a lower benefit from cash and securities reinvestment over the last 12 months to reduce the asset sensitivity of the firm in a declining rate environment.

***All Other* (managed basis) expenses** of $2.3 billion increased 8%, driven by higher severance related to the realignment of the technology workforce and higher investments in Citi's transformation and technology, primarily offset by the absence of the civil money penalties in the prior-year period, the impact of Mexican peso depreciation, lower deposit insurance costs and a reduction from closed exits and wind-downs.

***All Other* (managed basis) cost of credit** was $374 million, compared to $243 million in the prior-year period, primarily driven by higher net credit losses related to higher lending volumes and portfolio seasoning in Banamex and a net ACL build largely due to changes in portfolio composition in Banamex.

***All Other* (managed basis) net loss** was $(567) million, compared to $(402) million in the prior-year period, driven by the lower revenues, the higher expenses and the higher cost of credit.

------

Citigroup will host a conference call today at 11:00 AM (ET). A live webcast of the presentation, as well as financial results and presentation materials, will be available at https://www.citigroup.com/global/investors. The live webcast of the presentation can also be accessed at https://www.veracast.com/webcasts/citigroup/webinars/CITI2Q25.cfm

Additional financial, statistical and business-related information, as well as business and segment trends, is included in a Quarterly Financial Data Supplement. Both this earnings release and Citigroup's Second Quarter 2025 Quarterly Financial Data Supplement are available on Citigroup's website at www.citigroup.com.

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com \| X: @Citi \| YouTube: www.youtube.com/citi \| Blog: http://blog.citigroup.com \| Facebook: www.facebook.com/citi \| LinkedIn: www.linkedin.com/company/citi

Certain statements in this presentation are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences. Actual results and capital and other financial condition may differ materially from those included in these statements due to a variety of factors. These factors include, among others: (i) macroeconomic, geopolitical and other challenges and uncertainties, including those related to policies and announcements of the U.S. administration, such as tariffs and retaliatory actions by U.S. trading partners, significant volatility and disruptions in financial markets, a resurgence of inflation, increases in unemployment rates, increases in interest rates, slowing economic growth or recession in the U.S. and other countries and conflicts in the Middle East; (ii) the execution and efficacy of Citi's priorities regarding its simplification, transformation and enhanced business performance, including those related to revenues, net interest income, expenses and capital-related expectations; (iii) a deterioration in business and consumer confidence and spending, including lower credit card spend volume and loan growth, as well as lower than expected interest rates; (iv) changes in regulatory capital requirements, interpretations or rules; and (v) the precautionary statements included in this presentation. These factors also consist of those contained in Citigroup's filings with the U.S. Securities and Exchange Commission, including without limitation the "Risk Factors" section of Citigroup's 2024 Form 10-K. Any forward-looking statements made by or on behalf of Citigroup 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.

Contacts:

Investors: Jennifer Landis (212) 559-2718

Press: Danielle Romero-Apsilos (212) 816-2264

------

**Appendix A**

---

| | | | |
|:---|:---|:---|:---|
| **Citigroup**<br>**($ in millions)** | **2Q'25** | **1Q'25** | **2Q'24** |
| **Net Income** | $**4019** | $**4064** | $**3217** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred Dividends | 287 | 269 | 242 |
| **Net Income (Loss) to Common Shareholders** | $**3732** | $**3795** | $**2975** |
| **Average Common Equity** | $**195622** | $**191794** | $**189211** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Average Goodwill and Intangibles | 23482 | 22474 | 23063 |
| **Average Tangible Common Equity (TCE)** | $**172140** | $**169320** | $**166148** |
| **ROCE** | ***7.7%*** | ***8.0%*** | ***6.3%*** |
| **RoTCE** | ***8.7%*** | ***9.1%*** | ***7.2%*** |

---

**Appendix B**

---

| | | | |
|:---|:---|:---|:---|
| **Citigroup**<br>**($ in millions)** | **2Q'25** | **2Q'24** | **% Δ YoY** |
| **Total Citigroup Revenues - As Reported** | $**21668** | $**20032** | ***8%*** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture-related Impact on Revenues | (177) | 33 |  |
| **Total Citigroup Revenues, Excluding Total Divestiture-related Impact** | $**21845** | $**19999** | ***9%*** |
| **Total Citigroup Operating Expenses - As Reported** | $**13577** | $**13246** | ***2%*** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture-related Impact on Operating Expenses | 37 | 85 |  |
| **Total Citigroup Operating Expenses, Excluding Total Divestiture-related Impact** | $**13540** | $**13161** | ***3%*** |

---

------

**Appendix C** <sup>(a)</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **All Other**<br>**($ in millions)** | **2Q'25** | **1Q'25** | **2Q'24** | **% Δ QoQ** | **% Δ YoY** |
| **All Other Revenues, Managed Basis** | $**1698** | $**1445** | $**1972** | ***18%*** | ***(14)%*** |
| Add:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Revenue<sup>(b)</sup> | (177) | - | 33 |  |  |
| **All Other Revenues (U.S. GAAP)** | $**1521** | $**1445** | $**2005** | ***5%*** | ***(24)%*** |
| **All Other Operating Expenses, Managed Basis** | $**2276** | $**2224** | $**2106** | ***2%*** | ***8%*** |
| Add:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Operating Expenses<sup>(b)(c)(d)</sup> | 37 | 34 | 85 |  |  |
| **All Other Operating Expenses (U.S. GAAP)** | $**2313** | $**2258** | $**2191** | ***2%*** | ***6%*** |
| **All Other Cost of Credit, Managed Basis** | $**374** | $**359** | $**243** | ***4%*** | ***54%*** |
| Add:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Net credit losses | 5 | - | (3) |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Net ACL build / (release)<sup>(e)</sup> | - | (11) | - |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Other provisions<sup>(f)</sup> | - | - | - |  |  |
| **All Other Citigroup Cost of Credit (U.S. GAAP)** | $**379** | $**348** | $**240** | ***9%*** | ***58%*** |
| **All Other Net Income (Loss), Managed Basis** | $**(567)** | $**(870)** | $**(402)** | ***35%*** | ***(41)%*** |
| Add:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Revenue<sup>(b)</sup> | (177) | - | 33 |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Operating Expenses<sup>(b)(c)(d)</sup> | (37) | (34) | (85) |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Cost of Credit<sup>(e)(f)</sup> | (5) | 11 | 3 |  |  |
| &nbsp;&nbsp;&nbsp;All Other Divestiture-related Impact on Taxes<sup>(b)(c)(d)</sup> | 39 | 8 | 17 |  |  |
| **All Other Net Income (Loss) (U.S. GAAP)** | $**(747)** | $**(885)** | $**(434)** | ***16%*** | ***(72)%*** |

---

(a) Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other—Legacy Franchises on a managed basis.

(b) 2Q25 includes (i) an approximately $186 million loss recorded in revenue (approximately $157 million after tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $37 million in operating expenses (approximately $26 million after tax) primarily related to separation costs in Mexico.

(c) 1Q25 includes approximately $34 million in operating expenses (approximately $23 million after-tax), largely related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025.

(d) 2Q24 includes approximately $85 million in operating expenses (approximately $58 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024.

(e) Includes credit reserve build / (release) for loans and provision for credit losses on unfunded lending commitments.

(f) Includes provisions for policyholder benefits and claims and other assets.

------

**Appendix D**

---

| | | | |
|:---|:---|:---|:---|
| **($ in millions)** | **2Q'25**<sup>(a)</sup> | **1Q'25** | **2Q'24** |
| **Citigroup Common Stockholders' Equity**<sup>(b)</sup> | $**196931** | $**194125** | $**190283** |
| &nbsp;&nbsp;&nbsp;Add: Qualifying noncontrolling interests | 190 | 192 | 153 |
| **Regulatory Capital Adjustments and Deductions:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Add: CECL transition provision<sup>(c)</sup> | - | - | 757 |
| &nbsp;&nbsp;&nbsp;Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated net unrealized gains (losses) on cash flow hedges, net of tax | (141) | (213) | (629) |
| &nbsp;&nbsp;&nbsp;&nbsp;Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax | (408) | (32) | (760) |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible Assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill, net of related deferred tax liabilities (DTLs)<sup>(d)</sup> | 18524 | 18122 | 18315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs | 3236 | 3291 | 3138 |
| &nbsp;&nbsp;&nbsp;&nbsp;Defined benefit pension plan net assets and other | 1610 | 1532 | 1425 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards<sup>(e)</sup> | 11163 | 11517 | 11695 |
| &nbsp;&nbsp;&nbsp;&nbsp;Excess over 10% / 15% limitations for other DTAs, certain common stock investments, and MSRs<sup>(e)(f)</sup> | 4205 | 4261 | 3652 |
| **Common Equity Tier 1 Capital (CET1)** | $**158932** | $**155839** | $**154357** |
| **Risk-Weighted Assets (RWA)**<sup>(c)</sup> | $**1180963** | $**1162306** | $**1135750** |
| **Common Equity Tier 1 Capital Ratio (CET1 / RWA)**<sup>(c)</sup> | **13.5%** | **13.4%** | **13.6%** |

---

Note: Citi's binding CET1 Capital ratios were derived under the Basel III Standardized Approach for all periods reflected.

(a) Preliminary.

(b) Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.

(c) Please refer to Footnote 2 at the end of this press release for additional information.

(d) Includes goodwill "embedded" in the valuation of significant common stock investments in unconsolidated financial institutions.

(e) Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit and general business credit tax carry-forwards and DTAs arising from temporary differences (future deductions) that are deducted from CET1 Capital exceeding the 10% limitation.

(f) Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. For all periods presented, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.

**Appendix E**

---

| | | | |
|:---|:---|:---|:---|
| **($ in millions)** | **2Q'25**<sup>(a)</sup> | **1Q'25** | **2Q'24** |
| **Common Equity Tier 1 Capital (CET1)**<sup>(b)</sup> | $**158932** | $**155839**  | $**154357** |
| **Additional Tier 1 Capital (AT1)**<sup>(c)</sup> | **17674** | **19675** | **19426** |
| **Total Tier 1 Capital (T1C) (CET1 + AT1)** | $**176606** | $**175514** | $**173783** |
| **Total Leverage Exposure (TLE)**<sup>(b)</sup> | $**3193388** | $**3033450** | $**2949534** |
| **Supplementary Leverage Ratio (T1C / TLE)**<sup>(b)</sup> | **5.5%** | **5.8%** | **5.9%** |

---

(a) Preliminary.

(b) Please refer to Footnote 2 at the end of this press release for additional information.

(c) Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

------

**Appendix F**

---

| | | | |
|:---|:---|:---|:---|
| **($ and shares in millions)** | **2Q'25**<sup>(a)</sup> | **1Q'25** | **2Q'24** |
| **Common Stockholders' Equity** | $**196872** | $**194058** | $**190210** |
| Less: |  |  |  |
| &nbsp;&nbsp;Goodwill | 19878 | 19422 | 19704 |
| &nbsp;&nbsp;Intangible Assets (other than MSRs) | 3639 | 3679 | 3517 |
| &nbsp;&nbsp;Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Businesses Held-for-Sale | 16 | 16 | -  |
| **Tangible Common Equity (TCE)** | $**173339** | $**170941** | $**166989** |
| **Common Shares Outstanding (CSO)** | **1840.9** | **1867.7** | **1907.8** |
| **Tangible Book Value Per Share** | $**94.16** | $**91.52** | $**87.53** |

---

(a) Preliminary.

**Appendix G**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Banking<br>($ in millions)** | **2Q'25** | **1Q'25** | **2Q'24** | **% Δ QoQ** | **% Δ YoY** |
| **Corporate Lending Revenues - As Reported** | $**940** | $**917** | $**774** | ***3%*** | ***21%*** |
| Less: |  |  |  |  |  |
| &nbsp;&nbsp;Gain/(loss) on loan hedges<sup>(a)</sup> | (62) | 14 | 9 | *NM* | *NM* |
| **Corporate Lending Revenues - Excluding Gain/(loss) on loan hedges** | $**1002** | $**903** | $**765** | ***11%*** | ***31%*** |

---

(a) See Footnote 8 at the end of this press release for additional information.

**Appendix H**

---

| | | | |
|:---|:---|:---|:---|
| **($ in billions)** | **2Q'25** | **1Q'25** | **2Q'24** |
| **Average Tangible Common Equity (TCE)** |  |  |  |
| &nbsp;&nbsp;Services | 24.7 | 24.7 | 24.9 |
| &nbsp;&nbsp;Markets | 50.4 | 50.4 | 54.0 |
| &nbsp;&nbsp;Banking | 20.6 | 20.6 | 21.8 |
| &nbsp;&nbsp;Wealth | 12.3 | 12.3 | 13.2 |
| &nbsp;&nbsp;USPB | 23.4 | 23.4 | 25.2 |
| &nbsp;&nbsp;All Other | 40.7 | 37.9 | 27.0 |
| **Total Citigroup Average TCE** | $**172.1** | $**169.3** | $**166.1** |
| Plus: |  |  |  |
| &nbsp;&nbsp;Average Goodwill | 19.8 | 18.8 | 19.5 |
| &nbsp;&nbsp;Average Intangible Assets (other than MSRs) | 3.7 | 3.7 | 3.6 |
| &nbsp;&nbsp;Average Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Businesses Held-for-Sale | - | - | - |
| **Total Citigroup Average Common Stockholders' Equity** | $**195.6** | $**191.8** | $**189.2** |

---

------

**Appendix I**

---

| | | | |
|:---|:---|:---|:---|
|  | **Net Income** | **Average Allocated** | **Return on** |
|  | **Applicable to Common** | **Tangible** | **Tangible** |
| **($ in billions)** | **Shareholders**<sup>(a)</sup> | **Common Equity**<sup>(b)</sup> | **Common Equity**<sup>(c)</sup> |
| **2Q'25** |  |  |  |
| &nbsp;&nbsp;Services | 1.4 | 24.7 | 23.3% |
| &nbsp;&nbsp;Markets | 1.7 | 50.4 | 13.8% |
| &nbsp;&nbsp;Banking | 0.5 | 20.6 | 9.0% |
| &nbsp;&nbsp;Wealth | 0.5 | 12.3 | 16.1% |
| &nbsp;&nbsp;USPB | 0.6 | 23.4 | 11.1% |
| &nbsp;&nbsp;All Other (managed basis)<sup>(a)</sup> | (0.9) | 40.7 | NM |
| &nbsp;&nbsp;Reconciling Items<sup>(d)</sup> | (0.2) | - | NM |
| **Total Citigroup**<sup>(a)</sup> | $**3.7** | $**172.1** | **8.7%** |
| **1Q'25** |  |  |  |
| &nbsp;&nbsp;Services | 1.6 | 24.7 | 26.2% |
| &nbsp;&nbsp;Markets | 1.8 | 50.4 | 14.3% |
| &nbsp;&nbsp;Banking | 0.5 | 20.6 | 10.7% |
| &nbsp;&nbsp;Wealth | 0.3 | 12.3 | 9.4% |
| &nbsp;&nbsp;USPB | 0.7 | 23.4 | 12.9% |
| &nbsp;&nbsp;All Other (managed basis)<sup>(a)</sup> | (1.1) | 37.9 | NM |
| &nbsp;&nbsp;Reconciling Items<sup>(d)</sup> | (0.0) | - | NM |
| **Total Citigroup**<sup>(a)</sup> | $**3.8** | $**169.3** | **9.1%** |
| **2Q'24** |  |  |  |
| &nbsp;&nbsp;Services | 1.5 | 24.9 | 23.8% |
| &nbsp;&nbsp;Markets | 1.4 | 54.0 | 10.7% |
| &nbsp;&nbsp;Banking | 0.4 | 21.8 | 7.5% |
| &nbsp;&nbsp;Wealth | 0.2 | 13.2 | 6.4% |
| &nbsp;&nbsp;USPB | 0.1 | 25.2 | 1.9% |
| &nbsp;&nbsp;All Other (managed basis)<sup>(a)</sup> | (0.6) | 27.0 | NM |
| &nbsp;&nbsp;Reconciling Items<sup>(d)</sup> | (0.0) | - | NM |
| **Total Citigroup**<sup>(a)</sup> | $**3.0** | $**166.1** | **7.2%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;a) Net income to common for All Other (Managed Basis) is reduced by preferred dividends of $287 million in 2Q'25, $269 million in 1Q'25, and $242 million in 2Q'24.

&nbsp;&nbsp;&nbsp;&nbsp;b) Tangible Common Equity is allocated to each segment based on Citi's allocation methodology which incorporates Basel III standardized risk-weighted assets, the global systemically important banks TCE, are periodically reassessed and as a result the TCE allocated to the segments may change. TCE is a non-GAAP financial measure.

&nbsp;&nbsp;&nbsp;&nbsp;c) Return on Tangible Common Equity (RoTCE) is a non-GAAP financial measure. RoTCE represents annualized net income available to common shareholders as a percentage of average TCE.

&nbsp;&nbsp;&nbsp;&nbsp;d) Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other - Legacy Franchises on a managed basis. For a reconciliation of these results, see Appendix C.

------

<sup>(1)</sup> Ratios as of June 30, 2025 are preliminary. Citigroup's allocated average tangible common equity (TCE) and return on average tangible common equity (RoTCE) are non-GAAP financial measures. RoTCE represents annualized net income available to common shareholders as a percentage of average TCE. For the components of these calculations, see Appendix A. For a reconciliation of common equity to TCE, see Appendix F. For a reconciliation of the summation of the segments' and components' average allocated TCE to Citigroup's total average stockholder's equity, see Appendix H.

As used herein, 2026 RoTCE is a forward-looking non-GAAP financial measure. From time to time, management may discuss forward-looking non-GAAP financial measures, such as forward-looking estimates or targets for revenue, expenses and RoTCE. Citi is unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because Citi is unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur. Such unavailable information could be significant for future results.

<sup>(2)</sup> Ratios as of June 30, 2025 are preliminary. Commencing January 1, 2025, the capital effects resulting from adoption of the Current Expected Credit Losses (CECL) methodology have been fully reflected in Citi's regulatory capital. For additional information, see "Capital Resources—Regulatory Capital Treatment—Modified Transition of the Current Expected Credit Losses Methodology" in Citigroup's 2024 Annual Report on Form 10-K. For the composition of Citigroup's CET1 Capital and ratio, see Appendix D. For the composition of Citigroup's SLR, see Appendix E.

<sup>(3)</sup> Citigroup's payout ratio is the sum of common dividends and common share repurchases divided by net income available to common shareholders.

<sup>(4)</sup> Citigroup's tangible book value per share is a non-GAAP financial measure. For a reconciliation of common equity to tangible common equity and resulting calculation of tangible book value per share, see Appendix F.

<sup>(5)</sup> Citigroup's revenues excluding divestiture-related impacts are non-GAAP financial measures. For a reconciliation to reported results, see Appendices B and C. The reconciling items' impact on revenue is reflected in non-interest revenue.

<sup>(6)</sup> Citigroup's expenses excluding divestiture-related impacts are non-GAAP financial measures. For a reconciliation to reported results, see Appendices B and C. Included in Citi's reported expenses was an immaterial decrease in expenses of $(20) million in the second quarter 2025 related to a lower incremental FDIC special assessment, compared to $34 million in the second quarter 2024.

<sup>(7)</sup> Prime balances are defined as client's billable balances where Citigroup provides cash or synthetic prime brokerage services.

<sup>(8)</sup> Credit derivatives are used to economically hedge a portion of the Corporate Lending portfolio that includes both accrual loans and loans at fair value. Gain/(loss) on loan hedges includes the mark-to-market on the credit derivatives and the mark-to-market on the loans in the portfolio that are at fair value. The fixed premium costs of these hedges are netted against the Corporate Lending revenues to reflect the cost of credit protection. Citigroup's results of operations excluding the impact of gain / (loss) on loan hedges are non-GAAP financial measures. For a reconciliation to reported results, see Appendix G.

<sup>(9)</sup> Reflects the impact of the net deposit balance transfers from USPB to Citigold in *Wealth* of approximately $17 billion over the last 5 quarters, including approximately $3 billion during the second quarter 2025. These amounts represent the balances at the time client relationships are transferred.

<sup>(10)</sup> *All Other* (managed basis) reflects results on a managed basis, which excludes divestiture-related impacts, for all periods, related to Citigroup's divestitures of its Asia consumer banking businesses and the planned divestiture of Banamex within Legacy Franchises. Certain of the results of operations of *All Other* (managed basis) and Legacy Franchises (managed basis) that exclude divestiture-related impacts are non-GAAP financial measures. For additional information and a reconciliation of these results, see Appendix C.

------

## Exhibit 99.2

**Exhibit 99.2**

![Graphic](c-20250715xex99d2001.jpg)

---

| | |
|:---|:---|
| &nbsp;&nbsp;**CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT** | **2Q25** |

---

---

| | |
|:---|:---|
|  | **Page** |
| **Citigroup** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Financial Summary** | **1** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Consolidated Statement of Income** | **2** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Consolidated Balance Sheet** | **3** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Operating Segments, Reporting Units, and Components—Net Revenues and Income** | **4** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Services** | **5** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Markets** | **6** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Banking** | **7** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Wealth** | **8** |
| &nbsp;&nbsp;&nbsp;&nbsp;**U.S. Personal Banking (USPB)** | **9** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metrics | **10** |
| &nbsp;&nbsp;&nbsp;&nbsp;**All Other** | **11** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Legacy Franchises | **12** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate/Other | **13** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reconciling Items—Divestiture-Related Impacts | **14** |
| **Citigroup Supplemental Detail** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average Balances and Interest Rates | **15** |
| &nbsp;&nbsp;&nbsp;&nbsp;EOP (End of period) Loans | **16** |
| &nbsp;&nbsp;&nbsp;&nbsp;EOP Deposits | **17** |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for Credit Losses (ACL) Rollforward | **18** |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for Credit Losses on Loans (ACLL) and Unfunded Lending Commitments (ACLUC) | **19 - 20** |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-Accrual Assets | **21** |
| &nbsp;&nbsp;&nbsp;&nbsp;CET1 Capital and Supplementary Leverage Ratios, Tangible Common Equity, | **22** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Book Value Per Share and Tangible Book Value Per Share |  |

---

------

**CITIGROUP FINANCIAL SUMMARY**

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/**  | **2Q25 Increase/**  | | | |
|  | | | | | | **(Decrease) from**  | **(Decrease) from**  | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| **Total revenues, net of interest expense**<sup>(1)</sup> | $**20032** | $**20209** | $**19465** | $**21596** | $**21668** | **-** | **8%** | $**41048** | $**43264** | **5%** |
| Total operating expenses | 13246 | 13144 | 13070 | 13425 | 13577 | 1% | 2% | 27353 | 27002 | (1%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses (NCLs) | 2283 | 2172 | 2242 | 2459 | 2234 | (9%) | (2%) | 4586 | 4693 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | 76 | 210 | 321 | 102 | 243 | 138% | 220% | 195 | 345 | 77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision / (release) for unfunded lending commitments | (8) | 105 | (118) | 108 | (19) | NM | (138%) | (106) | 89 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions for benefits and claims, other assets and HTM debt securities | 125 | 188 | 148 | 54 | 414 | NM | 231% | 166 | 468 | 182% |
| Provisions for credit losses and for benefits and claims | 2476 | 2675 | 2593 | 2723 | 2872 | 5% | 16% | 4841 | 5595 | 16% |
| Income (loss) from continuing operations before income taxes | 4310 | 4390 | 3802 | 5448 | 5219 | (4%) | 21% | 8854 | 10667 | 20% |
| Income taxes (benefits) | 1047 | 1116 | 912 | 1340 | 1186 | (11%) | 13% | 2183 | 2526 | 16% |
| **Income (loss) from continuing operations** | **3263** | **3274** | **2890** | **4108** | **4033** | **(2%)** | **24%** | **6671** | **8141** | **22%** |
| Income (loss) from discontinued operations, net of taxes | - | (1) | - | (1) | - | 100% | - | (1) | (1) | - |
| Net income (loss) before noncontrolling interests | 3263 | 3273 | 2890 | 4107 | 4033 | (2%) | 24% | 6670 | 8140 | 22% |
| Net income (loss) attributable to noncontrolling interests | 46 | 35 | 34 | 43 | 14 | (67%) | (70%) | 82 | 57 | (30%) |
| **Citigroup's net income (loss)** | $**3217** | $**3238** | $**2856** | $**4064** | $**4019** | **(1%)** | **25%** | $**6588** | $**8083** | **23%** |
| **Diluted earnings per share:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from continuing operations | $1.52 | $1.51 | $1.34 | $1.96 | $1.96 | - | 29% | $3.10 | $3.92 | 26% |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup's net income (loss) | $1.52 | $1.51 | $1.34 | $1.96 | $1.96 | - | 29% | $3.10 | $3.92 | 26% |
| Preferred dividends | $242 | $277 | $256 | $269 | $287 | 7% | 19% | $521 | $556 | 7% |
| **Income allocated to unrestricted common shareholders—basic** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from continuing operations (for EPS purposes) | $2943 | $2906 | $2563 | $3752 | $3683 | (2%) | 25% | $5991 | $7435 | 24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup's net income (loss) (for EPS purposes) | 2943 | 2905 | 2563 | 3751 | 3683 | (2%) | 25% | 5990 | 7434 | 24% |
| **Income allocated to unrestricted common shareholders—diluted** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from continuing operations (for EPS purposes) | $2962 | $2926 | $2583 | $3769 | $3702 | (2%) | 25% | $6025 | $7471 | 24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup's net income (loss) (for EPS purposes) | 2962 | 2925 | 2583 | 3768 | 3702 | (2%) | 25% | 6024 | 7470 | 24% |
| **Shares** <u>(in millions):</u> |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average basic | 1907.7 | 1899.9 | 1887.6 | 1879.0 | 1855.9 | (1%) | (3%) | 1909.1 | 1867.5 | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Average diluted | 1945.7 | 1940.3 | 1931.0 | 1919.6 | 1893.1 | (1%) | (3%) | 1944.4 | 1906.4 | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Common shares outstanding, at period end | 1907.8 | 1891.3 | 1877.1 | 1867.7 | 1840.9 | (1%) | (4%) |  |  |  |
| **Regulatory capital ratios and performance metrics:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Equity Tier 1 (CET1) Capital ratio<sup>(2)(3)(4)</sup> | 13.59% | 13.71% | 13.63% | 13.41% | 13.5% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 Capital ratio<sup>(2)(3)(4)</sup> | 15.30% | 15.24% | 15.31% | 15.10% | 15.0% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Capital ratio<sup>(2)(3)(4)</sup> | 15.41% | 15.21% | 15.42% | 15.41% | 15.3% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Supplementary Leverage ratio (SLR)<sup>(2)(4)(5)</sup> | 5.89% | 5.85% | 5.85% | 5.79% | 5.5% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average assets | 0.53% | 0.52% | 0.46% | 0.65% | 0.61% | (4) bps | 8 bps | 0.54% | 0.63% | 9 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average common equity | 6.3% | 6.2% | 5.4% | 8.0% | 7.7% | (30) bps | 140 bps | 6.5% | 7.8% | 130 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Average tangible common equity (TCE) (in billions of dollars)<sup>(6)</sup> | $166.1 | $168.3 | $168.6 | $169.3 | $172.1 | 2% | 4% | $165.4 | $170.7 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average tangible common equity (RoTCE)<sup>(6)</sup> | 7.2% | 7.0% | 6.1% | 9.1% | 8.7% | (40) bps | 150 bps | 7.4% | 8.9% | 150 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating leverage<sup>(7)</sup> | 524 bps | 281 bps | 3,002 bps | 759 bps | 567 bps | (192) bps | 43 bps | (170) bps | 668 bps | 838 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio (total operating expenses/total revenues, net) | 66.1% | 65.0% | 67.1% | 62.2% | 62.7% | 50 bps | (340) bps | 66.6% | 62.4% | (420) bps |
| **Balance sheet data** <u>(in billions of dollars, except per share amounts)</u><sup>(2)</sup><u>:</u> |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $2405.7 | $2430.7 | $2352.9 | $2571.5 | $2622.8 | 2% | 9% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total average assets | 2456.5 | 2492.1 | 2474.8 | 2517.1 | 2647.8 | 5% | 8% | 2453.4 | 2582.5 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | 687.7 | 688.9 | 694.5 | 702.1 | 725.3 | 3% | 5% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1278.1 | 1310.0 | 1284.5 | 1316.4 | 1357.7 | 3% | 6% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup's stockholders' equity | 208.3 | 209.1 | 208.6 | 212.4 | 213.2 | - | 2% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Book value per share | 99.70 | 101.91 | 101.62 | 103.90 | 106.94 | 3% | 7% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible book value per share<sup>(6)</sup> | 87.53 | 89.67 | 89.34 | 91.52 | 94.16 | 3% | 8% |  |  |  |
| **Direct staff** (in thousands) | 229 | 229 | 229 | 229 | 230 | - | - |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Effective January 1, 2025, certain transaction processing fees paid by Citi, primarily to credit card networks, reported within USPB, Services, Wealth, and All Other—Legacy Franchises (Banamex and Asia Consumer), which were previously presented within Other operating expenses, are presented as contra-revenue within Commissions and fees reported in Non-interest revenue. Prior periods were conformed to reflect this change in presentation.

&nbsp;&nbsp;&nbsp;&nbsp;(2) 2Q25 is preliminary.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Citi's binding CET1 Capital and Tier 1 Capital ratios were derived under the Basel III Standardized Approach, whereas Citi's binding Total Capital ratios were derived under the Basel III Advanced Approaches framework for all periods presented. For the composition of Citi's CET1 Capital and ratio, see page 22.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Commencing January 1, 2025, the capital effects resulting from adoption of the Current Expected Credit Losses (CECL) methodology have been fully reflected in Citi's regulatory capital. For additional information, see "Capital Resources—Regulatory Capital Treatment—Modified Transition of the Current Expected Credit Losses Methodology" in Citigroup's 2024 Annual Report on Form 10-K.

&nbsp;&nbsp;&nbsp;&nbsp;(5) For the composition of Citi's SLR, see page 22.

&nbsp;&nbsp;&nbsp;&nbsp;(6) TCE, RoTCE and Tangible book value per share are non-GAAP financial measures. See page 22 for a reconciliation of Tangible book value per share and Citi's average TCE to Citi's total average stockholders' equity.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Represents the year-over-year growth rate in basis points (bps) of Total revenues, net of interest expense less the year-over-year growth rate of Total operating expenses. Positive operating leverage indicates that the revenue growth rate was greater than the expense growth rate.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 1**

------

**CITIGROUP CONSOLIDATED STATEMENT OF INCOME** 

(In millions of dollars)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| **Revenues** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income (including dividends) | $35987 | $36456 | $35047 | $33666 | $35859 | 7% | - | $72210 | $69525 | (4%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 22494 | 23094 | 21314 | 19654 | 20684 | 5% | (8%) | 45210 | 40338 | (11%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income (NII) | 13493 | 13362 | 13733 | 14012 | 15175 | 8% | 12% | 27000 | 29187 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commissions and fees | 2555 | 2589 | 2456 | 2707 | 2745 | 1% | 7% | 5191 | 5452 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Principal transactions | 2874 | 3219 | 2286 | 3921 | 3406 | (13%) | 19% | 6148 | 7327 | 19% |
| &nbsp;&nbsp;&nbsp;&nbsp;Administrative and other fiduciary fees | 1046 | 1059 | 992 | 1045 | 1123 | 7% | 7% | 2083 | 2168 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Realized gains (losses) on sales of investments, net | 23 | 72 | 118 | 121 | 138 | 14% | 500% | 138 | 259 | 88% |
| &nbsp;&nbsp;&nbsp;&nbsp;Impairment losses on investments | (17) | (45) | (339) | (58) | (39) | 33% | (129%) | (47) | (97) | (106%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on available-for-sale (AFS) debt securities<sup>(1)</sup> | (4) | 4 | 1 | - | 4 | NM | NM | (4) | 4 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenue (loss) | 62 | (51) | 218 | (152) | (884) | (482%) | NM | 539 | (1036) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest revenues (NIR) | 6539 | 6847 | 5732 | 7584 | 6493 | (14%) | (1%) | 14048 | 14077 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues, net of interest expense** | **20032** | **20209** | **19465** | **21596** | **21668** | **-** | **8%** | **41048** | **43264** | **5%** |
| **Provisions for credit losses and for benefits and claims** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses on loans | 2283 | 2172 | 2242 | 2459 | 2234 | (9%) | (2%) | 4586 | 4693 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build / (release) for loans | 76 | 210 | 321 | 102 | 243 | 138% | 220% | 195 | 345 | 77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on loans | 2359 | 2382 | 2563 | 2561 | 2477 | (3%) | 5% | 4781 | 5038 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on held-to-maturity (HTM) debt securities | (5) | 50 | (5) | (5) | 7 | NM | NM | 5 | 2 | (60%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on other assets | 112 | 110 | 136 | 39 | 381 | NM | 240% | 116 | 420 | 262% |
| &nbsp;&nbsp;&nbsp;&nbsp;Policyholder benefits and claims | 18 | 28 | 17 | 20 | 26 | 30% | 44% | 45 | 46 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on unfunded lending commitments | (8) | 105 | (118) | 108 | (19) | NM | (138%) | (106) | 89 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total provisions for credit losses and for benefits and claims**<sup>(2)</sup> | **2476** | **2675** | **2593** | **2723** | **2872** | **5%** | **16%** | **4841** | **5595** | **16%** |
| **Operating expenses** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Compensation and benefits | 6888 | 7058 | 6923 | 7464 | 7633 | 2% | 11% | 14561 | 15097 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Technology / communication | 2238 | 2273 | 2278 | 2379 | 2290 | (4%) | 2% | 4484 | 4669 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 597 | 606 | 650 | 574 | 615 | 7% | 3% | 1182 | 1189 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Advertising and marketing | 280 | 282 | 323 | 250 | 269 | 8% | (4%) | 508 | 519 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring | 36 | 9 | (11) | (3) | (2) | 33% | NM | 261 | (5) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Other operating | 3207 | 2916 | 2907 | 2761 | 2772 | - | (14%) | 6357 | 5533 | (13%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total operating expenses** | **13246** | **13144** | **13070** | **13425** | **13577** | **1%** | **2%** | **27353** | **27002** | **(1%)** |
| **Income (loss) from continuing operations before income taxes** | 4310 | 4390 | 3802 | 5448 | 5219 | (4%) | 21% | 8854 | 10667 | 20% |
| Provision (benefit) for income taxes | 1047 | 1116 | 912 | 1340 | 1186 | (11%) | 13% | 2183 | 2526 | 16% |
| **Income (loss) from continuing operations** | **3263** | **3274** | **2890** | **4108** | **4033** | **(2%)** | **24%** | **6671** | **8141** | **22%** |
| **Discontinued operations** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from discontinued operations | - | (1) | - | (1) | - | 100% | - | (1) | (1) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes | - | - | - | - | - | - | - | - | - | - |
| **Income (loss) from discontinued operations, net of taxes** | - | (1) | - | (1) | - | 100% | - | (1) | (1) | - |
| Net income (loss) before attribution to noncontrolling interests | 3263 | 3273 | 2890 | 4107 | 4033 | (2%) | 24% | 6670 | 8140 | 22% |
| Noncontrolling interests | 46 | 35 | 34 | 43 | 14 | (67%) | (70%) | 82 | 57 | (30%) |
| **Citigroup's net income (loss)** | $**3217** | $**3238** | $**2856** | $**4064** | $**4019** | **(1%)** | **25%** | $**6588** | $**8083** | **23%** |

---

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

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 2**

------

**CITIGROUP CONSOLIDATED BALANCE SHEET**

(In millions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  | <br>**June 30,**<br>**2024** | <br>**September 30,**<br>**2024** | <br>**December 31,**<br>**2024** | <br>**March 31,**<br>**2025** | <br>**June 30,**<br>**2025**<sup>(1)</sup> | **1Q25** | **2Q24** |
| **Assets** |  |  |  |  |  |  |  |
| Cash and due from banks (including segregated cash and other deposits) | $26917 | $25266 | $22782 | $24463 | $24991 | 2% | (7%) |
| Deposits with banks, net of allowance | 219217 | 277828 | 253750 | 283868 | 312482 | 10% | 43% |
| Securities borrowed and purchased under resale agreements, net of allowance | 317970 | 285928 | 274062 | 390215 | 323892 | (17%) | 2% |
| Brokerage receivables, net of allowance | 64563 | 63653 | 50841 | 57440 | 64029 | 11% | (1%) |
| Trading account assets | 446339 | 458072 | 442747 | 518577 | 568558 | 10% | 27% |
| Investments |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Available-for-sale debt securities | 249362 | 234444 | 226876 | 225180 | 235802 | 5% | (5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Held-to-maturity debt securities, net of allowance | 251125 | 248274 | 242382 | 220385 | 206094 | (6%) | (18%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity securities | 7789 | 7953 | 7399 | 7323 | 7504 | 2% | (4%) |
| Total investments | 508276 | 490671 | 476657 | 452888 | 449400 | (1%) | (12%) |
| Loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer<sup>(2)</sup> | 386117 | 389151 | 393102 | 386312 | 395759 | 2% | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate<sup>(3)</sup> | 301605 | 299771 | 301386 | 315744 | 329586 | 4% | 9% |
| Loans, net of unearned income | 687722 | 688922 | 694488 | 702056 | 725345 | 3% | 5% |
| Allowance for credit losses on loans (ACLL) | (18216) | (18356) | (18574) | (18726) | (19123) | (2%) | (5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans, net | 669506 | 670566 | 675914 | 683330 | 706222 | 3% | 5% |
| Goodwill | 19704 | 19691 | 19300 | 19422 | 19878 | 2% | 1% |
| Intangible assets (including MSRs) | 4226 | 4121 | 4494 | 4430 | 4409 | - | 4% |
| Premises and equipment, net of depreciation and amortization | 29399 | 30096 | 30192 | 30814 | 32312 | 5% | 10% |
| Other assets, net of allowance | 99569 | 104771 | 102206 | 106067 | 116599 | 10% | 17% |
| **Total assets** | $**2405686** | $**2430663** | $**2352945** | $**2571514** | $**2622772** | **2%** | **9%** |
| **Liabilities** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing deposits in U.S. offices | $117607 | $118034 | $123338 | $122472 | $119898 | (2%) | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in U.S. offices | 546772 | 558461 | 551547 | 562628 | 575709 | 2% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total U.S. deposits | 664379 | 676495 | 674885 | 685100 | 695607 | 2% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing deposits in offices outside the U.S. | 83150 | 84913 | 84349 | 82215 | 86458 | 5% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in offices outside the U.S. | 530608 | 548591 | 525224 | 549095 | 575668 | 5% | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total international deposits | 613758 | 633504 | 609573 | 631310 | 662126 | 5% | 8% |
| Total deposits | 1278137 | 1309999 | 1284458 | 1316410 | 1357733 | 3% | 6% |
| Securities loaned and sold under repurchase agreements | 305206 | 278377 | 254755 | 403959 | 347913 | (14%) | 14% |
| Brokerage payables | 73621 | 81186 | 66601 | 78302 | 90949 | 16% | 24% |
| Trading account liabilities | 151259 | 142534 | 133846 | 148688 | 163952 | 10% | 8% |
| Short-term borrowings | 38694 | 41340 | 48505 | 49139 | 55560 | 13% | 44% |
| Long-term debt | 280321 | 299081 | 287300 | 295684 | 317761 | 7% | 13% |
| Other liabilities, plus allowances<sup>(4)</sup> | 69304 | 68244 | 68114 | 66074 | 74774 | 13% | 8% |
| **Total liabilities** | $**2196542** | $**2220761** | $**2143579** | $**2358256** | $**2408642** | **2%** | **10%** |
| **Stockholders' equity** |  |  |  |  |  |  |  |
| Preferred stock | $18100 | $16350 | $17850 | $18350 | $16350 | (11%) | (10%) |
| Common stock | 31 | 31 | 31 | 31 | 31 | - | - |
| Additional paid-in capital | 108785 | 108969 | 109117 | 108616 | 108839 | - | - |
| Retained earnings | 202913 | 204770 | 206294 | 209013 | 211674 | 1% | 4% |
| Treasury stock, at cost | (74842) | (75840) | (76842) | (77880) | (79886) | (3%) | (7%) |
| Accumulated other comprehensive income (loss) (AOCI) | (46677) | (45197) | (47852) | (45722) | (43786) | 4% | 6% |
| **Total common equity** | $**190210** | $**192733** | $**190748** | $**194058** | $**196872** | **1%** | **4%** |
| **Total Citigroup stockholders' equity** | $**208310** | $**209083** | $**208598** | $**212408** | $**213222** | **-** | **2%** |
| Noncontrolling interests | 834 | 819 | 768 | 850 | 908 | 7% | 9% |
| **Total equity** | **209144** | **209902** | **209366** | **213258** | **214130** | **-** | **2%** |
| **Total liabilities and equity** | $**2405686** | $**2430663** | $**2352945** | $**2571514** | $**2622772** | **2%** | **9%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) June 30, 2025 is preliminary.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Consumer loans include loans managed by USPB, Wealth, and All Other—Legacy Franchises (other than Banamex small business and middle-market banking (Banamex SBMM), and the Assets Finance Group (AFG)).

&nbsp;&nbsp;&nbsp;&nbsp;(3) Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Banamex SBMM, and the AFG.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 3**

------

**OPERATING SEGMENT, REPORTING UNIT, AND COMPONENT DETAILS**

(In millions of dollars)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q** <br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| **Revenues, net of interest expense**<sup>(1)</sup> |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Services | $4675 | $5015 | $5165 | $4889 | $5062  | 4% | 8% | $9438 | $9951 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Markets | 5086 | 4817 | 4576 | 5986 | 5879  | (2%) | 16% | 10443 | 11865 | 14% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking | 1627 | 1597 | 1241 | 1952 | 1921  | (2%) | 18% | 3363 | 3873 | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth | 1807 | 1995 | 1994 | 2096 | 2166  | 3% | 20% | 3494 | 4262 | 22% |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Personal Banking (USPB) | 4832 | 4964 | 5150 | 5228 | 5119  | (2%) | 6% | 9941 | 10347 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other—managed basis<sup>(2)(3)</sup> | 1972 | 1820 | 1335 | 1445 | 1698  | 18% | (14%) | 4348 | 3143 | (28%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Reconciling Items—divestiture-related impacts<sup>(4)</sup> | 33 | 1 | 4 | - | (177) | NM | NM | 21 | (177) | NM |
| **Total net revenues—reported** | $**20032** | $**20209** | $**19465** | $**21596** | $**21668**  | **-** | **8%** | $**41048** | $**43264** | **5%** |
| **Income (loss) from continuing operations** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Services | $1498 | $1683 | $1888 | $1610 | $1448  | (10%) | (3%) | $3013 | $3058 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Markets | 1469 | 1089 | 1026 | 1795 | 1749  | (3%) | 19% | 2890 | 3544 | 23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking | 409 | 236 | 357 | 542 | 461  | (15%) | 13% | 936 | 1003 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth | 210 | 283 | 334 | 284 | 494  | 74% | 135% | 385 | 778 | 102% |
| &nbsp;&nbsp;&nbsp;&nbsp;USPB | 121 | 522 | 392 | 745 | 649  | (13%) | 436% | 468 | 1394 | 198% |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other—managed basis<sup>(2)(3)</sup> | (412) | (494) | (1071) | (853) | (588) | 31% | (43%) | (895) | (1441) | (61%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Reconciling Items—divestiture-related impacts<sup>(4)</sup> | (32) | (45) | (36) | (15) | (180) | NM | (463%) | (126) | (195) | (55%) |
| **Income (loss) from continuing operations—reported** | **3263** | **3274** | **2890** | **4108** | **4033** | **(2%)** | **24%** | **6671** | **8141** | **22%** |
| **Discontinued operations** | - | (1) | - | (1) | - | 100% | - | (1) | (1) | - |
| **Net income (loss) attributable to noncontrolling interests** | 46 | 35 | 34 | 43 | 14 | (67%) | (70%) | 82 | 57 | (30%) |
| **Net income (loss)** | $**3217** | $**3238** | $**2856** | $**4064** | $**4019** | **(1%)** | **25%** | $**6588** | $**8083** | **23%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) See footnote 1 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal, and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses, and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Banamex (consists of Mexico consumer banking (Banamex Consumer) and Small Business and Middle-Market Banking (Banamex SBMM), collectively (Banamex)) within Legacy Franchises. See pages 12 and 14 for additional information.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Reconciling Items consist of the divestiture-related impacts excluded from All Other on a managed basis. See page 14 for additional information. The Reconciling Items are fully reflected in the various line items in Citi's Consolidated Statement of Income (page 2).

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 4**

------

**SERVICES**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income (including dividends) | $3225 | $3435 | $3446 | $3498 | $3630 | 4% | 13% | $6542 | $7128 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fee revenue |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commissions and fees<sup>(1)</sup> | 862 | 834 | 806 | 815 | 904 | 11% | 5% | 1656 | 1719 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiduciary and administrative, and other | 695 | 701 | 635 | 658 | 752 | 14% | 8% | 1380 | 1410 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total fee revenue | 1557 | 1535 | 1441 | 1473 | 1656 | 12% | 6% | 3036 | 3129 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Principal transactions | 182 | 266 | 263 | 250 | 210 | (16%) | 15% | 430 | 460 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;All other<sup>(2)</sup> | (289) | (221) | 15 | (332) | (434) | (31%) | (50%) | (570) | (766) | (34%) |
| Total non-interest revenue | 1450 | 1580 | 1719 | 1391 | 1432 | 3% | (1%) | 2896 | 2823 | (3%) |
| **Total revenues, net of interest expense**<sup>(1)</sup> | **4675** | **5015** | **5165** | **4889** | **5062** | **4%** | **8%** | **9438** | **9951** | **5%** |
| Total operating expenses<sup>(1)</sup> | 2729 | 2575 | 2601 | 2584 | 2679 | 4% | (2%) | 5392 | 5263 | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses (recoveries) on loans | - | 14 | 28 | 6 | 20 | 233% | NM | 6 | 26 | 333% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | (100) | 7 | (71) | 24 | 53 | 121% | NM | (66) | 77 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (release) for credit losses on unfunded lending commitments | 2 | 7 | (4) | (6) | (6) | - | NM | 14 | (12) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions for credit losses for other assets and HTM debt securities | 71 | 99 | 159 | 27 | 286 | NM | 303% | 83 | 313 | 277% |
| Provision for credit losses | (27) | 127 | 112 | 51 | 353 | NM | NM | 37 | 404 | NM |
| Income from continuing operations before taxes | 1973 | 2313 | 2452 | 2254 | 2030 | (10%) | 3% | 4009 | 4284 | 7% |
| Income taxes | 475 | 630 | 564 | 644 | 582 | (10%) | 23% | 996 | 1226 | 23% |
| **Income from continuing operations** | **1498** | **1683** | **1888** | **1610** | **1448** | **(10%)** | **(3%)** | **3013** | **3058** | **1%** |
| Noncontrolling interests | 27 | 32 | 17 | 15 | 16 | 7% | (41%) | 52 | 31 | (40%) |
| **Net income** | $**1471** | $**1651** | $**1871** | $**1595** | $**1432** | **(10%)** | **(3%)** | $**2961** | $**3027** | **2%** |
| EOP assets (in billions) | $569 | $608 | $584 | $589 | $618 | 5% | 9% |  |  |  |
| Average assets (in billions) | 575 | 591 | 596 | 578 | 593 | 3% | 3% | $578 | $586 | 1% |
| Efficiency ratio | 58% | 51% | 50% | 53% | 53% | 0 bps | (500) bps | 57% | 53% | (400) bps |
| Average allocated TCE (in billions)<sup>(3)</sup> | $24.9 | $24.9 | $24.9 | $24.7 | $24.7 | - | (1%) | $24.9 | $24.7 | (1%) |
| RoTCE<sup>(2)</sup> | 23.8% | 26.4% | 29.9% | 26.2% | 23.3% | (290) bps | (50) bps | 23.9% | 24.7% | 80 bps |
| **Revenue by component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $2629 | $2731 | $2840 | $2865 | $2949 | 3% | 12% | $5352 | $5814 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 797 | 896 | 1095 | 775 | 725 | (6%) | (9%) | 1587 | 1500 | (5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Treasury and Trade Solutions (TTS)** | **3426** | **3627** | **3935** | **3640** | **3674** | **1%** | **7%** | **6939** | **7314** | **5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 596 | 704 | 606 | 633 | 681 | 8% | 14% | 1190 | 1314 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 653 | 684 | 624 | 616 | 707 | 15% | 8% | 1309 | 1323 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Securities Services** | **1249** | **1388** | **1230** | **1249** | **1388** | **11%** | **11%** | **2499** | **2637** | **6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Services** | $**4675** | $**5015** | $**5165** | $**4889** | $**5062** | **4%** | **8%** | $**9438** | $**9951** | **5%** |
| **Revenue by geography** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;North America | $1295 | $1360 | $1504 | $1445 | $1539 | 7% | 19% | $2538 | $2984 | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;International | 3380 | 3655 | 3661 | 3444 | 3523 | 2% | 4% | 6900 | 6967 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $4675 | $5015 | $5165 | $4889 | $5062 | 4% | 8% | $9438 | $9951 | 5% |
| **Key drivers**<sup>(4)</sup> (in billions of dollars, except as otherwise noted) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Average loans by component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TTS | $81 | $86 | $85 | $86 | $93 | 8% | 15% | $81 | $90 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities Services | 1 | 1 | 2 | 1 | 1 | - | - | 1 | 1 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $82 | $87 | $87 | $87 | $94 | 8% | 15% | $82 | $91 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;ACLL as a % of EOP loans<sup>(5)</sup> | 0.37% | 0.38% | 0.30% | 0.30% | 0.36% | 6 bps | (1) bps |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Average deposits by component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TTS | $677 | $690 | $704 | $690 | $713 | 3% | 5% | $680 | $702 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities Services | 127 | 135 | 135 | 136 | 144 | 6% | 13% | 126 | 140 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $804 | $825 | $839 | $826 | $857 | 4% | 7% | $806 | $842 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;**AUC/AUA (in trillions of dollars)**<sup>(6)</sup> | $24.2 | $26.3 | $25.4 | $26.1 | $28.2 | 8% | 17% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Cross-border transaction value**<sup>(7)</sup> | $92.7 | $95.0 | $101.3 | $95.1 | $101.3 | 7% | 9% | $183.4 | $196.4 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;**U.S. dollar clearing volume (in millions)**<sup>(8)</sup> | 41.6 | 42.7 | 44.1 | 42.7 | 44.3 | 4% | 6% | 81.2 | 87.0 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Commercial card spend volume** | $18.0 | $18.3 | $17.3 | $17.2 | $17.9 | 4% | (1%) | $34.8 | $35.1 | 1% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) See footnote 1 on page 1.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(4) Management uses this information in reviewing the segment's results and believes it is useful to investors concerning underlying segment performance and trends.

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

&nbsp;&nbsp;&nbsp;&nbsp;(6) 2Q25 is preliminary.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Represents the total value of cross-border foreign exchange payments processed through Citi platforms.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Represents the number of U.S. dollar Clearing Payment instructions processed on behalf of U.S. and foreign-domiciled entities (primarily financial institutions).

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 5**

------

**MARKETS**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income (including dividends) | $2038 | $1405 | $1856 | $2013 | $2902 | 44% | 42% | $3744 | $4915 | 31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fee revenue |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokerage and fees | 346 | 391 | 329 | 400 | 399 | - | 15% | 682 | 799 | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees<sup>(1)</sup> | 104 | 118 | 104 | 135 | 106 | (21%) | 2% | 204 | 241 | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other<sup>(2)</sup> | 62 | 64 | 50 | 52 | 51 | (2%) | (18%) | 124 | 103 | (17%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total fee revenue | 512 | 573 | 483 | 587 | 556 | (5%) | 9% | 1010 | 1143 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Principal transactions | 2696 | 2847 | 2480 | 3350 | 2353 | (30%) | (13%) | 5874 | 5703 | (3%) |
| &nbsp;&nbsp;&nbsp;&nbsp;All other<sup>(3)</sup> | (160) | (8) | (243) | 36 | 68 | 89% | NM | (185) | 104 | NM |
| Total non-interest revenue | 3048 | 3412 | 2720 | 3973 | 2977 | (25%) | (2%) | 6699 | 6950 | 4% |
| **Total revenues, net of interest expense** | **5086** | **4817** | **4576** | **5986** | **5879** | **(2%)** | **16%** | **10443** | **11865** | **14%** |
| Total operating expenses | 3305 | 3339 | 3174 | 3468 | 3509 | 1% | 6% | 6689 | 6977 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses (recoveries) on loans | 66 | 24 | - | 142 | 8 | (94%) | (88%) | 144 | 150 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | (111) | 37 | 167 | 48 | 53 | 10% | NM | 9 | 101 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (release) for credit losses on unfunded lending commitments | 2 | 47 | (31) | 9 | (8) | NM | NM | 1 | 1 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions for credit losses for other assets and HTM debt securities | 32 | 33 | (2) | 2 | 55 | NM | 72% | 34 | 57 | 68% |
| Provision for credit losses | (11) | 141 | 134 | 201 | 108 | (46%) | NM | 188 | 309 | 64% |
| Income (loss) from continuing operations before taxes | 1792 | 1337 | 1268 | 2317 | 2262 | (2%) | 26% | 3566 | 4579 | 28% |
| Income taxes (benefits) | 323 | 248 | 242 | 522 | 513 | (2%) | 59% | 676 | 1035 | 53% |
| **Income (loss) from continuing operations** | **1469** | **1089** | **1026** | **1795** | **1749** | (3%) | 19% | **2890** | **3544** | **23%** |
| Noncontrolling interests | 26 | 17 | 17 | 13 | 21 | 62% | (19%) | 41 | 34 | (17%) |
| **Net income (loss)** | $**1443** | $**1072** | $**1009** | $**1782** | $**1728** | **(3%)** | **20%** | $**2849** | $**3510** | **23%** |
| EOP assets (in billions) | $1023 | $1002 | $949 | $1165 | $1166 | - | 14% |  |  |  |
| Average assets (in billions) | 1064 | 1082 | 1058 | 1121 | 1222 | 9% | 15% | $1056 | $1172 | 11% |
| Efficiency ratio | 65% | 69% | 69% | 58% | 60% | 200 bps | (500) bps | 64% | 59% | (500) bps |
| Average allocated TCE (in billions)<sup>(4)</sup> | $54.0 | $54.0 | $54.0 | $50.4 | $50.4 | - | (7%) | $54.0 | $50.4 | (7%) |
| RoTCE<sup>(4)</sup> | 10.7% | 7.9% | 7.4% | 14.3% | 13.8% | (50) bps | 310 bps | 10.6% | 14.0% | 340 bps |
| **Revenue by component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed Income markets | $3564 | $3578 | $3478 | $4477 | $4268 | (5%) | 20% | $7694 | $8745 | 14% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity markets | 1522 | 1239 | 1098 | 1509 | 1611 | 7% | 6% | 2749 | 3120 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**5086** | $**4817** | $**4576** | $**5986** | $**5879** | **(2%)** | **16%** | $**10443** | $**11865** | **14%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rates and currencies | $2466 | $2465 | $2421 | $3048 | $3134 | 3% | 27% | $5266 | $6182 | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spread products / other fixed income | 1098 | 1113 | 1057 | 1429 | 1134 | (21%) | 3% | 2428 | 2563 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Fixed Income markets revenues** | $**3564** | $**3578** | $**3478** | $**4477** | $**4268** | **(5%)** | **20%** | $**7694** | $**8745** | **14%** |
| **Revenue by geography** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;North America | $2031 | $1773 | $1691 | $2176 | $2130 | (2%) | 5% | $4098 | $4306 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;International | 3055 | 3044 | 2885 | 3810 | 3749 | (2%) | 23% | 6345 | 7559 | 19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $5086 | $4817 | $4576 | $5986 | $5879 | (2%) | 16% | $10443 | $11865 | 14% |
| **Key drivers**<sup>(5)</sup> (in billions of dollars) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average loans | $119 | $119 | $122 | $128 | $136 | 6% | 14% | $120 | $132 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;NCLs as a % of average loans | 0.22% | 0.08% | 0.00% | 0.45% | 0.02% | (43) bps | (20) bps | 0.24% | 0.23% | (1) bps |
| &nbsp;&nbsp;&nbsp;&nbsp;ACLL as a % of EOP loans<sup>(6)</sup> | 0.74% | 0.77% | 0.88% | 0.89% | 0.85% | (4) bps | 11 bps |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average trading account assets | $426 | $462 | $449 | $476 | $549 | 15% | 29% | $417 | $513 | 23% |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) Primarily includes other non-brokerage and investment banking fees from customer-driven activities.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Markets includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to Corporate Lending clients.

&nbsp;&nbsp;&nbsp;&nbsp;(4) TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Management uses this information in reviewing the segment's results and believes it is useful to investors concerning underlying segment performance and trends.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Excludes loans that are carried at fair value for all periods.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 6**

------

**BANKING**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income (including dividends) | $527 | $527 | $521 | $491 | $530 | 8% | 1% | $1109 | $1021 | (8%) |
| &nbsp;&nbsp;&nbsp;Fee revenue |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees<sup>(1)</sup> | 935 | 999 | 951 | 1104 | 1058 | (4%) | 13% | 1907 | 2162 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other<sup>(2)</sup> | 50 | 31 | 51 | 49 | 59 | 20% | 18% | 92 | 108 | 17% |
| &nbsp;&nbsp;&nbsp;Total fee revenue | 985 | 1030 | 1002 | 1153 | 1117 | (3%) | 13% | 1999 | 2270 | 14% |
| &nbsp;&nbsp;&nbsp;Principal transactions | (126) | (197) | (209) | (90) | (176) | (96%) | (40%) | (353) | (266) | 25% |
| &nbsp;&nbsp;&nbsp;All other<sup>(3)</sup> | 241 | 237 | (73) | 398 | 450 | 13% | 87% | 608 | 848 | 39% |
| Total non-interest revenue | 1100 | 1070 | 720 | 1461 | 1391 | (5%) | 26% | 2254 | 2852 | 27% |
| **Total revenues, net of interest expense** | **1627** | **1597** | **1241** | **1952** | **1921** | **(2%)** | **18%** | **3363** | **3873** | **15%** |
| Total operating expenses | 1131 | 1116 | 1051 | 1034 | 1137 | 10% | 1% | 2310 | 2171 | (6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses on loans | 40 | 36 | 7 | 34 | 16 | (53%) | (60%) | 106 | 50 | (53%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | (51) | 62 | (122) | 78 | 137 | 76% | NM | (140) | 215 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (release) for credit losses on unfunded lending commitments | (9) | 59 | (82) | 107 | 2 | (98%) | NM | (105) | 109 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions for credit losses for other assets and HTM debt securities | (12) | 20 | (43) | (5) | 18 | NM | NM | (22) | 13 | NM |
| Provision for credit losses | (32) | 177 | (240) | 214 | 173 | (19%) | NM | (161) | 387 | NM |
| Income (loss) from continuing operations before taxes | 528 | 304 | 430 | 704 | 611 | (13%) | 16% | 1214 | 1315 | 8% |
| Income taxes (benefits) | 119 | 68 | 73 | 162 | 150 | (7%) | 26% | 278 | 312 | 12% |
| **Income (loss) from continuing operations** | **409** | **236** | **357** | **542** | **461** | **(15%)** | **13%** | **936** | **1003** | **7%** |
| Noncontrolling interests | 3 | (2) | 1 | (1) | (2) | (100%) | NM | 6 | (3) | NM |
| **Net income (loss)** | $**406** | $**238** | $**356** | $**543** | $**463** | **(15%)** | **14%** | $**930** | $**1006** | **8%** |
| EOP assets (in billions) | $147 | $151 | $143 | $147 | $148 | 1% | 1% |  |  |  |
| Average assets (in billions) | 152 | 152 | 149 | 144 | 150 | 4% | (1%) | $153 | $147 | (4%) |
| Efficiency ratio | 70% | 70% | 85% | 53% | 59% | 600 bps | (1100) bps | 69% | 56% | (1300) bps |
| Average allocated TCE (in billions)<sup>(4)</sup> | $21.8 | $21.8 | $21.8 | $20.6 | $20.6 | - | (6%) | $21.8 | $20.6 | (6%) |
| RoTCE<sup>(4)</sup> | 7.5% | 4.3% | 6.5% | 10.7% | 9.0% | (170) bps | 150 bps | 8.6% | 9.8% | 120 bps |
| **Revenue by component** |  |  |  |  |  |  |  |  |  |  |
| Total Investment Banking | $853 | $934 | $925 | $1035 | $981 | (5%) | 15% | $1778 | $2016 | 13% |
| Corporate Lending—excluding gain/(loss) on loan hedges<sup>(3)(5)</sup> | 765 | 742 | 322 | 903 | 1002 | 11% | 31% | 1680 | 1905 | 13% |
| **Total Banking revenues (ex-gain/(loss) on loan hedges)**<sup>(3)(5)</sup>  | 1618 | 1676 | 1247 | 1938 | 1983 | 2% | 23% | 3458 | 3921 | 13% |
| &nbsp;&nbsp;&nbsp;Gain/(loss) on loan hedges<sup>(3)(5)</sup> | 9 | (79) | (6) | 14 | (62) | NM | NM | (95) | (48) | 49% |
| **Total Banking revenues including gain/(loss) on loan hedges**<sup>(3)(5)</sup> | $**1627** | $**1597** | $**1241** | $**1952** | $**1921** | (2%) | 18% | $**3363** | $**3873** | 15% |
| **Business metrics—investment banking fees** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Advisory | $268 | $394 | $353 | $424 | $408 | (4%) | 52% | $498 | $832 | 67% |
| &nbsp;&nbsp;&nbsp;Equity underwriting (Equity Capital Markets (ECM)) | 174 | 129 | 214 | 127 | 218 | 72% | 25% | 345 | 345 | - |
| &nbsp;&nbsp;&nbsp;Debt underwriting (Debt Capital Markets (DCM)) | 493 | 476 | 384 | 553 | 432 | (22%) | (12%) | 1064 | 985 | (7%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $935 | $999 | $951 | $1104 | $1058 | (4%) | 13% | $1907 | $2162 | 13% |
| **Revenue by geography** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;North America | $749 | $837 | $738 | $989 | $781 | (21%) | 4% | $1522 | $1770 | 16% |
| &nbsp;&nbsp;&nbsp;International | 878 | 760 | 503 | 963 | 1140 | 18% | 30% | 1841 | 2103 | 14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1627 | $1597 | $1241 | $1952 | $1921 | (2%) | 18% | $3363 | $3873 | 15% |
| **Key drivers**<sup>(6)</sup> (in billions of dollars) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Average loans | $89 | $88 | $84 | $82 | $84 | 2% | (6%) | $89 | $83 | (7%) |
| &nbsp;&nbsp;&nbsp;NCLs as a % of average loans | 0.18% | 0.16% | 0.03% | 0.17% | 0.08% | (9) bps | (10) bps | 0.24% | 0.12% | (12) bps |
| &nbsp;&nbsp;&nbsp;ACLL as a % of EOP loans<sup>(7)</sup> | 1.42% | 1.54% | 1.42% | 1.54% | 1.72% | 18 bps | 30 bps |  |  |  |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) Primarily includes other non-investment banking fees from customer-driven activities.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Banking includes revenues earned by Citigroup that are subject to a revenue sharing arrangement with Banking—Corporate Lending for Investment Banking, Markets, and Services products sold to Corporate Lending clients.

&nbsp;&nbsp;&nbsp;&nbsp;(4) TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Credit derivatives are used to economically hedge a portion of the corporate loan portfolio that includes both accrual loans and loans at fair value. Gain (loss) on loan hedges includes the mark-to-market on the credit derivatives, partially offset by the mark-to-market on the loans in the portfolio that are at fair value. Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio. The fixed premium costs of these hedges are netted against the corporate lending revenues to reflect the cost of credit protection. Citigroup's results of operations excluding the impact of gain (loss) on loan hedges are non-GAAP financial measures.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Management uses this information in reviewing the segment's results and believes it is useful to investors concerning underlying segment performance and trends.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Excludes loans that are carried at fair value for all periods.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 7**

------

**WEALTH**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income | $1047 | $1233 | $1247 | $1274 | $1278 | - | 22% | $2028 | $2552 | 26% |
| &nbsp;&nbsp;&nbsp;Fee revenue |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commissions and fees<sup>(1)</sup> | 342 | 342 | 358 | 399 | 370 | (7%) | 8% | 680 | 769 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other<sup>(2)</sup> | 232 | 241 | 245 | 247 | 245 | (1%) | 6% | 463 | 492 | 6% |
| &nbsp;&nbsp;&nbsp;Total fee revenue | 574 | 583 | 603 | 646 | 615 | (5%) | 7% | 1143 | 1261 | 10% |
| &nbsp;&nbsp;&nbsp;All other<sup>(3)</sup> | 186 | 179 | 144 | 176 | 273 | 55% | 47% | 323 | 449 | 39% |
| Total non-interest revenue | 760 | 762 | 747 | 822 | 888 | 8% | 17% | 1466 | 1710 | 17% |
| **Total revenues, net of interest expense**<sup>(1)</sup> | **1807** | **1995** | **1994** | **2096** | **2166** | **3%** | **20%** | **3494** | **4262** | **22%** |
| Total operating expenses<sup>(1)</sup> | 1535 | 1594 | 1561 | 1639 | 1558 | (5%) | 1% | 3171 | 3197 | 1% |
| &nbsp;&nbsp;&nbsp;Net credit losses on loans | 35 | 27 | 30 | 38 | 40 | 5% | 14% | 64 | 78 | 22% |
| &nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | (43) | 8 | (11) | 61 | (64) | NM | (49%) | (233) | (3) | 99% |
| &nbsp;&nbsp;&nbsp;Provision (release) for credit losses on unfunded lending commitments | - | (1) | - | (1) | (2) | (100%) | NM | (8) | (3) | 63% |
| &nbsp;&nbsp;&nbsp;Provisions for benefits and claims (PBC), and other assets | (1) | (1) | 1 | - | - | - | 100% | (2) | - | 100% |
| Provisions for credit losses and for PBC | (9) | 33 | 20 | 98 | (26) | NM | (189%) | (179) | 72 | NM |
| Income from continuing operations before taxes | 281 | 368 | 413 | 359 | 634 | 77% | 126% | 502 | 993 | 98% |
| Income taxes | 71 | 85 | 79 | 75 | 140 | 87% | 97% | 117 | 215 | 84% |
| **Income from continuing operations** | **210** | **283** | **334** | **284** | **494** | **74%** | **135%** | **385** | **778** | **102%** |
| Noncontrolling interests | - | - | - | - | - | - | - | - | - | - |
| **Net income** | $**210** | $**283** | $**334** | $**284** | $**494** | **74%** | **135%** | $**385** | $**778** | **102%** |
| EOP assets (in billions) | $228 | $230 | $224 | $224 | $228 | 2% | - |  |  |  |
| Average assets (in billions) | 230 | 229 | 227 | 223 | 226 | 1% | (2%) | $233 | $225 | (3%) |
| Efficiency ratio | 85% | 80% | 78% | 78% | 72% | (600) bps | (1300) bps | 91% | 75% | (1600) bps |
| Average allocated TCE (in billions)<sup>(4)</sup> | $13.2 | $13.2 | $13.2 | $12.3 | $12.3 | - | (7%) | $13.2 | $12.3 | (7%) |
| RoTCE<sup>(4)</sup> | 6.4% | 8.5% | 10.1% | 9.4% | 16.1% | 670 bps | 970 bps | 5.9% | 12.8% | 690 bps |
| **Revenue by component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private Bank | $611 | $614 | $590 | $664 | $731 | 10% | 20% | $1182 | $1395 | 18% |
| &nbsp;&nbsp;&nbsp;Citigold | 1001 | 1137 | 1148 | 1164 | 1214 | 4% | 21% | 1936 | 2378 | 23% |
| &nbsp;&nbsp;&nbsp;Wealth at Work | 195 | 244 | 256 | 268 | 221 | (18%) | 13% | 376 | 489 | 30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1807 | $1995 | $1994 | $2096 | $2166 | 3% | 20% | $3494 | $4262 | 22% |
| **Revenue by geography** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;North America | $847 | $1000 | $1008 | $1073 | $1081 | 1% | 28% | $1620 | $2154 | 33% |
| &nbsp;&nbsp;&nbsp;International | 960 | 995 | 986 | 1023 | 1085 | 6% | 13% | 1874 | 2108 | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1807 | $1995 | $1994 | $2096 | $2166 | 3% | 20% | $3494 | $4262 | 22% |
| **Key drivers**<sup>(5)</sup> (in billions of dollars) |  |  |  |  |  |  |  |  |  |  |
| **EOP client balances** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Client investment assets<sup>(6)(7)</sup> | $541 | $580 | $587 | $595 | $635 | 7% | 17% |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 318 | 316 | 313 | 309 | 310 | - | (3%) |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans | 150 | 151 | 148 | 147 | 151 | 2% | - |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $1009 | $1047 | $1048 | $1051 | $1096 | 4% | 9% |  |  |  |
| Average loans | $150 | $150 | $148 | $147 | $149 | 1% | (1%) | $150 | $148 | (1%) |
| ACLL as a % of EOP loans | 0.35% | 0.36% | 0.36% | 0.40% | 0.36% | (4) bps | 1 bps |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) See footnote 1 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Primarily related to fiduciary and administrative fees.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Primarily related to principal transactions revenue including FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(4) TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Management uses this information in reviewing the segment's results and believes it is useful to investors concerning underlying segment performance and trends.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Includes assets under management, and trust and custody assets.

&nbsp;&nbsp;&nbsp;&nbsp;(7) 2Q25 is preliminary.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 8**

------

**U.S. PERSONAL BANKING**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  |<br>**2Q**<br>**2024** |<br>**3Q**<br>**2024** |<br>**4Q**<br>**2024** |<br>**1Q**<br>**2025** |<br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income | $5103 | $5293 | $5481 | $5541 | $5471 | (1%) | 7% | $10329 | $11012 | 7% |
| &nbsp;&nbsp;&nbsp;Fee revenue |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interchange fees<sup>(1)(2)</sup> | 2437 | 2388 | 2483 | 2324 | 2499 | 8% | 3% | 4720 | 4823 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Card rewards and partner payments | (2847) | (2839) | (2960) | (2821) | (3008) | (7%) | (6%) | (5427) | (5829) | (7%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other<sup>(2)</sup> | 114 | 110 | 139 | 143 | 147 | 3% | 29% | 219 | 290 | 32% |
| &nbsp;&nbsp;&nbsp;Total fee revenue | (296) | (341) | (338) | (354) | (362) | (2%) | (22%) | (488) | (716) | (47%) |
| &nbsp;&nbsp;&nbsp;All other<sup>(3)</sup> | 25 | 12 | 7 | 41 | 10 | (76%) | (60%) | 100 | 51 | (49%) |
| Total non-interest revenue | (271) | (329) | (331) | (313) | (352) | (12%) | (30%) | (388) | (665) | (71%) |
| **Total revenues, net of interest expense** | **4832** | **4964** | **5150** | **5228** | **5119** | **(2%)** | **6%** | **9941** | **10347** | **4%** |
| Total operating expenses<sup>(1)</sup> | 2355 | 2376 | 2465 | 2442 | 2381 | (2%) | 1% | 4805 | 4823 | - |
| &nbsp;&nbsp;&nbsp;Net credit losses on loans | 1931 | 1864 | 1920 | 1983 | 1889 | (5%) | (2%) | 3795 | 3872 | 2% |
| &nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | 382 | 41 | 246 | (171) | (6) | 96% | NM | 719 | (177) | NM |
| &nbsp;&nbsp;&nbsp;Provision (release) for credit losses on unfunded lending commit. | - | - | - | - | 1 | NM | NM | - | 1 | NM |
| &nbsp;&nbsp;&nbsp;Provisions for benefits and claims (PBC), and other assets | 2 | 4 | 4 | (1) | 1 | NM | (50%) | 5 | - | (100%) |
| Provisions for credit losses and for PBC | 2315 | 1909 | 2170 | 1811 | 1885 | 4% | (19%) | 4519 | 3696 | (18%) |
| Income from continuing operations before taxes | 162 | 679 | 515 | 975 | 853 | (13%) | 427% | 617 | 1828 | 196% |
| Income taxes | 41 | 157 | 123 | 230 | 204 | (11%) | 398% | 149 | 434 | 191% |
| **Income from continuing operations** | **121** | **522** | **392** | **745** | **649** | **(13%)** | **436%** | **468** | **1394** | **198%** |
| Noncontrolling interests | - | - | - | - | - | - | - | - | - | - |
| **Net income** | $**121** | $**522** | $**392** | $**745** | $**649** | **(13%)** | **436%** | $**468** | $**1394** | **198%** |
| EOP assets (in billions) | $242 | $245 | $252 | $244 | $251 | 3% | 4% |  |  |  |
| Average assets (in billions) | 239 | 244 | 249 | 247 | 247 | - | 3% | $236 | $247 | 5% |
| Efficiency ratio | 49% | 48% | 48% | 47% | 47% | 0 bps | (200) bps | 48% | 47% | (100) bps |
| Average allocated TCE (in billions)<sup>(4)</sup> | $25.2 | $25.2 | $25.2 | $23.4 | $23.4 | - | (7%) | $25.2 | $23.4 | (7%) |
| RoTCE<sup>(4)</sup> | 1.9% | 8.2% | 6.2% | 12.9% | 11.1% | (180) bps | 920 bps | 3.7% | 12.0% | 830 bps |
| **Revenue by component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Branded Cards<sup>(1)(5)</sup> | $2536 | $2741 | $2806 | $2892 | $2822 | (2%) | 11% | $5188 | $5714 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Services<sup>(1)(5)</sup> | 1735 | 1704 | 1741 | 1675 | 1649 | (2%) | (5%) | 3625 | 3324 | (8%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Banking<sup>(1)(5)</sup> | 561 | 519 | 603 | 661 | 648 | (2%) | 16% | 1128 | 1309 | 16% |
| &nbsp;&nbsp;&nbsp;Total | $4832 | $4964 | $5150 | $5228 | $5119 | (2%) | 6% | $9941 | $10347 | 4% |
| **Average loans and deposits**<sup>(6)</sup> (in billions) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Average loans | $206 | $210 | $216 | $216 | $217 | - | 5% | $205 | $217 | 6% |
| &nbsp;&nbsp;&nbsp;ACLL as a % of EOP loans<sup>(7)</sup> | 6.60% | 6.52% | 6.38% | 6.51% | 6.34% | (17) bps | (26) bps |  |  |  |
| &nbsp;&nbsp;&nbsp;Average deposits | 93 | 85 | 86 | 89 | 90 | 1% | (3%) | 97 | 90 | (7%) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) See footnote 1 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Primarily related to retail banking and credit card-related fees.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Primarily related to revenue incentives from card networks and partners.

&nbsp;&nbsp;&nbsp;&nbsp;(4) TCE and RoTCE are non-GAAP financial measures. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Effective January 1, 2025, USPB changed its reporting for certain installment lending products that were transferred from Retail Banking to Branded Cards and Retail Services to reflect where these products are managed. Prior periods were conformed to reflect this change.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Management uses this information in reviewing the segment's results and believes it is useful to investors concerning underlying segment performance and trends.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Excludes loans that are carried at fair value for all periods.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 9**

------

**U.S. PERSONAL BANKING**

**Metrics**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | **2Q25 Increase/** | **2Q25 Increase/** |
|  | **2Q** | **3Q** | **4Q** | **1Q** | **2Q** | **(Decrease) from** | **(Decrease) from** |
| **U.S. Personal Banking Key Drivers)**<sup>(1)(2)</sup> (in billions of dollars, except as otherwise noted) | **2024** | **2024** | **2024** | **2025** | **2025** | **1Q25** | **2Q24** |
| New credit cards account acquisitions (in thousands) |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | 1144 | 1224 | 1129 | 1300 | 1194 | (8%) | 4% |
| &nbsp;&nbsp;&nbsp;Retail Services | 2034 | 1799 | 2391 | 1540 | 2061 | 34% | 1% |
| Credit card spend volume |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | $130.9 | $128.9 | $135.4 | $125.1 | $135.8 | 9% | 4% |
| &nbsp;&nbsp;&nbsp;Retail Services | 23.7 | 21.7 | 25.2 | 19.0 | 22.9 | 21% | (3%) |
| Average loans<sup>(3)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | $112.8 | $114.8 | $116.9 | $116.7 | $118.0 | 1% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit cards | 109.3 | 111.1 | 113.1 | 112.9 | 114.3 | 1% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Personal installment loans (PIL) | 3.5 | 3.7 | 3.8 | 3.8 | 3.7 | (3%) | 6% |
| &nbsp;&nbsp;&nbsp;Retail Services | 51.0 | 51.2 | 51.9 | 51.3 | 50.2 | (2%) | (2%) |
| &nbsp;&nbsp;&nbsp;Retail Banking | 42.5 | 44.3 | 46.8 | 47.9 | 48.7 | 2% | 15% |
| EOP loans<sup>(3)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | $115.3 | $115.9 | $121.1 | $116.3 | $120.2 | 3% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit cards | 111.8 | 112.1 | 117.3 | 112.6 | 116.6 | 4% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;PIL | 3.5 | 3.8 | 3.8 | 3.7 | 3.6 | (3%) | 3% |
| &nbsp;&nbsp;&nbsp;Retail Services | 51.7 | 51.6 | 53.8 | 50.2 | 50.7 | 1% | (2%) |
| &nbsp;&nbsp;&nbsp;Retail Banking | 42.7 | 45.6 | 46.8 | 48.2 | 49.3 | 2% | 15% |
| Total revenues, net of interest expenses as a % of average loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | 9.04% | 9.50% | 9.55% | 10.05% | 9.59% | (46) bps | 55 bps |
| &nbsp;&nbsp;&nbsp;Retail Services | 13.68% | 13.24% | 13.35% | 13.24% | 13.18% | (6) bps | (50) bps |
| NII as a % of average loans<sup>(4)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | 8.92% | 9.18% | 9.36% | 9.79% | 9.53% | (26) bps | 61 bps |
| &nbsp;&nbsp;&nbsp;Retail Services | 16.92% | 17.12% | 17.06% | 17.13% | 16.89% | (24) bps | (3) bps |
| NCLs as a % of average loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | 3.88% | 3.63% | 3.63% | 3.97% | 3.80% | (17) bps | (8) bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit cards | 3.82% | 3.56% | 3.55% | 3.89% | 3.73% | (16) bps | (9) bps |
| &nbsp;&nbsp;&nbsp;&nbsp;PIL | 5.86% | 5.70% | 6.18% | 6.19% | 6.18% | (1) bps | 32 bps |
| &nbsp;&nbsp;&nbsp;Retail Services | 6.45% | 6.14% | 6.21% | 6.43% | 5.89% | (54) bps | (56) bps |
| &nbsp;&nbsp;&nbsp;Retail Banking | 0.24% | 0.24% | 0.36% | 0.25% | 0.27% | 2 bps | 3 bps |
| Loans 90+ days past due as a % of EOP loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | 1.07% | 1.09% | 1.16% | 1.18% | 1.09% | (9) bps | 2 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit cards | 1.09% | 1.11% | 1.18% | 1.20% | 1.11% | (9) bps | 2 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;PIL | 0.46% | 0.50% | 0.55% | 0.49% | 0.58% | 9 bps | 12 bps |
| &nbsp;&nbsp;&nbsp;Retail Services | 2.36% | 2.45% | 2.46% | 2.38% | 2.15% | (23) bps | (21) bps |
| &nbsp;&nbsp;&nbsp;Retail Banking<sup>(5)</sup> | 0.35% | 0.33% | 0.31% | 0.33% | 0.40% | 7 bps | 5 bps |
| Loans 30-89 days past due as a % of EOP loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | 0.95% | 1.06% | 1.04% | 1.03% | 0.97% | (6) bps | 2 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit cards | 0.94% | 1.05% | 1.03% | 1.02% | 0.96% | (6) bps | 2 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;PIL | 1.23% | 1.32% | 1.34% | 1.38% | 1.39% | 1 bps | 16 bps |
| &nbsp;&nbsp;&nbsp;Retail Services | 2.06% | 2.29% | 2.09% | 2.12% | 1.96% | (16) bps | (10) bps |
| &nbsp;&nbsp;&nbsp;Retail Banking<sup>(5)</sup> | 0.50% | 0.42% | 0.48% | 0.56% | 0.45% | (11) bps | (5) bps |
| Branches (actual) | 641 | 641 | 642 | 644 | 650 | 1% | 1% |
| Mortgage originations | $4.3 | $4.6 | $4.2 | $2.8 | $4.7 | 68% | 9% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Management uses this information in reviewing the segment's results and believes it is useful to investors concerning underlying segment performance and trends.

&nbsp;&nbsp;&nbsp;&nbsp;(2) See footnote 5 on page 9.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Average loans, EOP loans and the related consumer delinquency amounts and ratios include interest and fees receivables balances.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Net interest income includes certain fees that are recorded as interest revenue.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Excludes U.S. government-sponsored agency guaranteed loans.

Reclassified to conform to the current period's presentation.

**Page 10**

------

**ALL OTHER—MANAGED BASIS**<sup>(1)(2)(3)</sup>

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income | $1553 | $1469 | $1182 | $1195 | $1364 | 14% | (12%) | $3248 | $2559 | (21%) |
| Non-interest revenue<sup>(4)(5)</sup> | 419 | 351 | 153 | 250 | 334 | 34% | (20%) | 1100 | 584 | (47%) |
| **Total revenues, net of interest expense** | **1972** | **1820** | **1335** | **1445** | **1698** | **18%** | **(14%)** | **4348** | **3143** | **(28%)** |
| Total operating expenses<sup>(4)(5)(6)(7)(8)(9)</sup> | 2106 | 2077 | 2162 | 2224 | 2276 | 2% | 8% | 4791 | 4500 | (6%) |
| &nbsp;&nbsp;&nbsp;Net credit losses on loans | 214 | 208 | 257 | 256 | 256 | - | 20% | 463 | 512 | 11% |
| &nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | (1) | 55 | 112 | 73 | 70 | (4%) | NM | (94) | 143 | NM |
| &nbsp;&nbsp;&nbsp;Provision (release) for credit losses on unfunded lending commitments | (3) | (7) | (1) | (1) | (6) | (500%) | (100%) | (8) | (7) | 13% |
| &nbsp;&nbsp;&nbsp;Provisions for benefits and claims, other assets and HTM debt securities | 33 | 33 | 29 | 31 | 54 | 74% | 64% | 68 | 85 | 25% |
| Provisions for credit losses and for benefits and claims (PBC) | 243 | 289 | 397 | 359 | 374 | 4% | 54% | 429 | 733 | 71% |
| Income (loss) from continuing operations before taxes | (377) | (546) | (1224) | (1138) | (952) | 16% | (153%) | (872) | (2090) | (140%) |
| Income taxes (benefits) | 35 | (52) | (153) | (285) | (364) | (28%) | NM | 23 | (649) | NM |
| **Income (loss) from continuing operations** | **(412)** | **(494)** | **(1071)** | **(853)** | **(588)** | **31%** | **(43%)** | **(895)** | **(1441)** | **(61%)** |
| **Income (loss) from discontinued operations, net of taxes** | - | (1) | - | (1) | - | 100% | - | (1) | (1) | - |
| Noncontrolling interests | (10) | (12) | (1) | 16 | (21) | NM | (110%) | (17) | (5) | 71% |
| **Net income (loss)** | $**(402)** | $**(483)** | $**(1070)** | $**(870)** | $**(567)** | **35%** | **(41%)** | $**(879)** | $**(1437)** | **(63%)** |
| EOP assets (in billions) | $197 | $195 | $201 | $203 | $212 | 4% | 8% |  |  |  |
| Average assets (in billions) | 197 | 194 | 196 | 204 | 210 | 3% | 7% | $197 | $206 | 5% |
| Efficiency ratio | 107% | 114% | 162% | 154% | 134% | (2000) bps | 2,700 bps | 110% | 143% | 3,300 bps |
| Average allocated TCE (in billions)<sup>(10)</sup> | $27.0 | $29.2 | $29.5 | $37.9 | $40.7 | 7% | 51% | $26.3 | $39.3 | 49% |
| **Revenue by reporting unit and component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Banamex | $1633 | $1523 | $1422 | $1467 | $1536 | 5% | (6%) | $3196 | $3003 | (6%) |
| &nbsp;&nbsp;&nbsp;Asia Consumer<sup>(11)</sup> | 219 | 191 | 150 | 135 | 155 | 15% | (29%) | 471 | 290 | (38%) |
| &nbsp;&nbsp;&nbsp;Legacy Holdings Assets (LHA) | (133) | 20 | (9) | 19 | - | (100%) | 100% | (129) | 19 | NM |
| &nbsp;&nbsp;&nbsp;Corporate/Other | 253 | 86 | (228) | (176) | 7 | NM | (97%) | 810 | (169) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1972 | $1820 | $1335 | $1445 | $1698 | 18% | (14%) | $4348 | $3143 | (28%) |
| **Banamex—key indicators** <u>(in billions of dollars)</u> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $24.5 | $23.5 | $23.1 | $24.1 | $26.8 | 11% | 9% |  |  |  |
| EOP deposits | 37.6 | 34.6 | 34.1 | 35.3 | 38.4 | 9% | 2% |  |  |  |
| Average loans | 25.3 | 23.9 | 23.4 | 23.7 | 25.5 | 8% | 1% |  |  |  |
| NCLs as a % of average loans (Banamex Consumer only) | 4.30% | 4.36% | 4.81% | 5.51% | 5.28% | (23) bps | 98 bps |  |  |  |
| Loans 90+ days past due as a % of EOP loans (Banamex Consumer only) | 1.32% | 1.37% | 1.43% | 1.41% | 1.58% | 17 bps | 26 bps |  |  |  |
| Loans 30-89 days past due as a % of EOP loans (Banamex Consumer only) | 1.33% | 1.47% | 1.41% | 1.46% | 1.52% | 6 bps | 19 bps |  |  |  |
| **Asia Consumer—key indicators** <u>(in billions of dollars)</u><sup>(12)(13)</sup> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $5.6 | $5.5 | $4.7 | $4.5 | $3.0 | (33%) | (46%) |  |  |  |
| EOP deposits | 8.3 | 8.4 | 7.5 | 7.4 | 1.5 | (80%) | (82%) |  |  |  |
| Average loans | 6.1 | 5.6 | 5.1 | 4.7 | 4.0 | (15%) | (34%) |  |  |  |
| **Legacy Holdings Assets—key indicators** <u>(in billions of dollars)</u> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $2.4 | $2.5 | $2.2 | $2.2 | $2.1 | (5%) | (13%) |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes Legacy Franchises (see page 12 for details) and certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Banamex within Legacy Franchises. See page 14 for additional information.

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

&nbsp;&nbsp;&nbsp;&nbsp;(4) See footnote 1 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(5) See footnote 2 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(6) See footnote 3 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(7) See footnote 4 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(8) See footnote 5 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(9) See footnote 6 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(10) TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE.

&nbsp;&nbsp;&nbsp;&nbsp;(11) Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.

&nbsp;&nbsp;&nbsp;&nbsp;(12) Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.

&nbsp;&nbsp;&nbsp;&nbsp;(13) The key indicators for Asia Consumer also reflect the reclassification of loans and deposits to Other assets and Other liabilities under HFS accounting on Citi's Consolidated Balance Sheet beginning in 2Q25.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 11**

------

**ALL OTHER—MANAGED BASIS**<sup>(1)(2)</sup>

**Legacy Franchises**<sup>(3)</sup>

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income | $1196 | $1253 | $1160 | $1167 | $1271 | 9% | 6% | $2474 | $2438 | (1%) |
| Non-interest revenue<sup>(4)(5)</sup> | 523 | 481 | 403 | 454 | 420 | (7%) | (20%) | 1064 | 874 | (18%) |
| **Total revenues, net of interest expense** | **1719** | **1734** | **1563** | **1621** | **1691** | **4%** | **(2%)** | **3538** | **3312** | **(6%)** |
| Total operating expenses<sup>(4)(5)(6)(7)(8)(9)</sup> | 1550 | 1475 | 1381 | 1334 | 1287 | (4%) | (17%) | 3155 | 2621 | (17%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses on loans | 214 | 208 | 257 | 256 | 256 |  | 20% | 463 | 512 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | (1) | 55 | 112 | 73 | 70 | (4%) | NM | (94) | 143 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (release) for credit losses on unfunded lending commitments | (3) | (7) | (1) | (1) | (6) | (500%) | (100%) | (8) | (7) | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions for benefits and claims (PBC), other assets and HTM debt securities | 28 | 35 | 25 | 30 | 51 | 70% | 82% | 65 | 81 | 25% |
| Provisions for credit losses and for PBC | 238 | 291 | 393 | 358 | 371 | 4% | 56% | 426 | 729 | 71% |
| Income (loss) from continuing operations before taxes | (69) | (32) | (211) | (71) | 33 | NM | NM | (43) | (38) | 12% |
| Income taxes (benefits) | (11) | (1) | (53) | (25) | (5) | 80% | 55% | 12 | (30) | NM |
| **Income (loss) from continuing operations** | **(58)** | **(31)** | **(158)** | **(46)** | **38** | **NM** | **NM** | **(55)** | **(8)** | **85%** |
| Noncontrolling interests | - | - | 3 | 14 | (22) | **NM** | NM | 2 | (8) | NM |
| **Net income (loss)** | $**(58)** | $**(31)** | $**(161)** | $**(60)** | $**60** | **NM** | **NM** | $**(57)** | $**-** | **100%** |
| EOP assets (in billions) | $72 | $69 | $74 | $77 | $83 | 8% | 15% |  |  |  |
| Average assets (in billions) | 77 | 70 | 72 | 77 | 81 | 5% | 5% | $78 | $79 | 1% |
| Efficiency ratio | 90% | 85% | 88% | 82% | 76% | (600) bps | (1400) bps | 89% | 79% | (1000) bps |
| Allocated TCE (in billions)<sup>(10)</sup> | $6.2 | $6.2 | $6.2 | $5.1 | $5.1 | - | (18%) | $6.2 | $5.1 | (18%) |
| **Revenue by reporting unit and component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Banamex<sup>(3)</sup> | $1633 | $1523 | $1422 | $1467 | $1536 | 5% | (6%) | $3196 | $3003 | (6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Asia Consumer<sup>(11)</sup> | 219 | 191 | 150 | 135 | 155 | 15% | (29%) | 471 | 290 | (38%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Legacy Holdings Assets (LHA) | (133) | 20 | (9) | 19 | - | (100%) | 100% | (129) | 19 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1719 | $1734 | $1563 | $1621 | $1691 | 4% | (2%) | $3538 | $3312 | (6%) |
| **Banamex**<sup>(3)</sup>**—key indicators** <u>(in billions of dollars)</u> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $24.5 | $23.5 | $23.1 | $24.1 | $26.8 | 11% | 9% |  |  |  |
| EOP deposits | 37.6 | 34.6 | 34.1 | 35.3 | 38.4 | 9% | 2% |  |  |  |
| Average loans | 25.3 | 23.9 | 23.4 | 23.7 | 25.5 | 8% | 1% |  |  |  |
| NCLs as a % of average loans (Banamex Consumer only) | 4.30% | 4.36% | 4.81% | 5.51% | 5.28% | (23) bps | 98 bps |  |  |  |
| Loans 90+ days past due as a % of EOP loans (Banamex Consumer only) | 1.32% | 1.37% | 1.43% | 1.41% | 1.58% | 17 bps | 26 bps |  |  |  |
| Loans 30-89 days past due as a % of EOP loans (Banamex Consumer only) | 1.33% | 1.47% | 1.41% | 1.46% | 1.52% | 6 bps | 19 bps |  |  |  |
| **Asia Consumer—key indicators** <u>(in billions of dollars)</u><sup>(12)(13)</sup> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $5.6 | $5.5 | $4.7 | $4.5 | $3.0 | (33%) | (46%) |  |  |  |
| EOP deposits | 8.3 | 8.4 | 7.5 | 7.4 | 1.5 | (80%) | (82%) |  |  |  |
| Average loans | 6.1 | 5.6 | 5.1 | 4.7 | 4.0 | (15%) | (34%) |  |  |  |
| **Legacy Holdings Assets—key indicators** <u>(in billions of dollars)</u> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $2.4 | $2.5 | $2.2 | $2.2 | $2.1 | (5%) | (13%) |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Banamex within Legacy Franchises. See page 14 for additional information.

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) Legacy Franchises consists of the consumer franchises in 13 markets across Asia, Poland and Russia that Citi has exited or intends to exit (collectively Asia Consumer); Banamex (consists of Mexico consumer banking (Banamex Consumer) and Small Business and Middle-Market Banking (Banamex SBMM), collectively (Banamex)); and Legacy Holdings Assets (primarily North America consumer mortgage loans, Citigroup's U.K. consumer banking business and other legacy assets).

&nbsp;&nbsp;&nbsp;&nbsp;(4) See footnote 1 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(5) See footnote 2 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(6) See footnote 3 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(7) See footnote 4 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(8) See footnote 5 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(9) See footnote 6 on page 14.

&nbsp;&nbsp;&nbsp;&nbsp;(10) TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE.

&nbsp;&nbsp;&nbsp;&nbsp;(11) Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.

&nbsp;&nbsp;&nbsp;&nbsp;(12) Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.

&nbsp;&nbsp;&nbsp;&nbsp;(13) The key indicators for Asia Consumer also reflect the reclassification of loans and deposits to Other assets and Other liabilities under HFS accounting on Citi's Consolidated Balance Sheet beginning in 2Q25.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 12**

------

**ALL OTHER**

**Corporate/Other**<sup>(1)</sup>

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income | $357 | $216 | $22 | $28 | $93 | 232% | (74%) | $774 | $121 | (84%) |
| Non-interest revenue | (104) | (130) | (250) | (204) | (86) | 58% | 17% | 36 | (290) | NM |
| **Total revenues, net of interest expense** | **253** | **86** | **(228)** | **(176)** | **7** | **NM** | **(97%)** | **810** | **(169)** | **NM** |
| Total operating expenses | 556 | 602 | 781 | 890 | 989 | 11% | 78% | 1636 | 1879 | 15% |
| Provisions for other assets and HTM debt securities | 5 | (2) | 4 | 1 | 3 | 200% | (40%) | 3 | 4 | 33% |
| Income (loss) from continuing operations before taxes | (308) | (514) | (1013) | (1067) | (985) | 8% | (220%) | (829) | (2052) | (148%) |
| Income taxes (benefits) | 46 | (51) | (100) | (260) | (359) | (38%) | NM | 11 | (619) | NM |
| **Income (loss) from continuing operations** | **(354)** | **(463)** | **(913)** | **(807)** | **(626)** | **22%** | **(77%)** | **(840)** | **(1433)** | **(71%)** |
| **Income (loss) from discontinued operations, net of taxes** | - | (1) | - | (1) | - | 100% | - | (1) | (1) | - |
| Noncontrolling interests | (10) | (12) | (4) | 2 | 1 | (50%) | NM | (19) | 3 | NM |
| **Net income (loss)** | $**(344)** | $**(452)** | $**(909)** | $**(810)** | $**(627)** | **23%** | **(82%)** | $**(822)** | $**(1437)** | **(75%)** |
| EOP assets (in billions) | $125 | $126 | $127 | $126 | $129 | 2% | 3% |  |  |  |
| Average allocated TCE (in billions)<sup>(2)</sup> | 20.8 | 23.0 | 23.3 | 32.8 | 35.6 | 9% | 71% | $20.1 | $34.2 | 70% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.

&nbsp;&nbsp;&nbsp;&nbsp;(2) TCE is a non-GAAP financial measure. See page 22 for a reconciliation of the summation of the segments' and component's average allocated TCE.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 13**

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**ALL OTHER**

**RECONCILING ITEMS**<sup>(1)</sup>

**Divestiture-Related Impacts**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| Net interest income | $- | $- | $- | $- | $- | - | - | $- | $- | - |
| Non-interest revenue<sup>(2)</sup> | 33 | 1 | 4 | - | (177) | NM | NM | 21 | (177) | NM |
| **Total revenues, net of interest expense** | **33** | **1** | **4** | **-** | **(177)** | **NM** | **NM** | **21** | **(177)** | **NM** |
| Total operating expenses<sup>(2)(3)(4)(5)(6)</sup> | 85 | 67 | 56 | 34 | 37 | 9% | (56%) | 195 | 71 | (64%) |
| &nbsp;&nbsp;&nbsp;Net credit losses on loans | (3) | (1) | - | - | 5 | NM | NM | 8 | 5 | (38%) |
| &nbsp;&nbsp;&nbsp;Credit reserve build (release) for loans | - | - | - | (11) | - | 100% | - | - | (11) | NM |
| &nbsp;&nbsp;&nbsp;Provision (release) for credit losses on unfunded lending commitments | - | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Provisions for benefits and claims, other assets and HTM debt securities | - | - | - | - | - | - | - | - | - | - |
| Provisions for credit losses and for benefits and claims (PBC) | (3) | (1) | - | (11) | 5 | NM | NM | 8 | (6) | NM |
| Income (loss) from continuing operations before taxes | (49) | (65) | (52) | (23) | (219) | NM | (347%) | (182) | (242) | (33%) |
| Income taxes (benefits) | (17) | (20) | (16) | (8) | (39) | (388%) | (129%) | (56) | (47) | 16% |
| **Income (loss) from continuing operations** | **(32)** | **(45)** | **(36)** | **(15)** | **(180)** | **NM** | **(463%)** | **(126)** | **(195)** | **(55%)** |
| **Income (loss) from discontinued operations, net of taxes** | **-** | **-** | **-** | **-** | - | - | - | - | - | - |
| Noncontrolling interests | - | - | - | - | - | - | - | - | - | - |
| **Net income (loss)** | $**(32)** | $**(45)** | $**(36)** | $**(15)** | $**(180)** | **NM** | **(463%)** | $**(126)** | $**(195)** | **(55%)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other—Legacy Franchises on a managed basis. The Reconciling Items are fully reflected in Citi's Consolidated Statement of Income on page 2 for each respective line item.

&nbsp;&nbsp;&nbsp;&nbsp;(2) 2Q25 includes (i) an approximately $186 million loss recorded in revenue (approximately $157 million after tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $37 million in operating expenses (approximately $26 million after tax) primarily related to separation costs in Mexico.

&nbsp;&nbsp;&nbsp;&nbsp;(3) 2Q24 includes approximately $85 million in operating expenses (approximately $58 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;(4) 3Q24 includes approximately $67 million in operating expenses (approximately $46 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;(5) 4Q24 includes approximately $56 million in operating expenses (approximately $39 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Annual Report on Form 10-K for the year ended December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;(6) 1Q25 includes approximately $34 million in operating expenses (approximately $23 million after-tax), largely related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 14**

------

**AVERAGE BALANCES AND INTEREST RATES**<sup>(1)(2)(3)(4)(5)</sup>

**Taxable Equivalent Basis**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Average Volumes** | **Average Volumes** | **Average Volumes** | **Interest** | **Interest** | **Interest** | **% Average Rate**<sup>(4)</sup> | **% Average Rate**<sup>(4)</sup> | **% Average Rate**<sup>(4)</sup> |
| *(In millions of dollars), except as otherwise noted* | **2Q24** | **1Q25** | **2Q25**<sup>(5)</sup> | **2Q24** | **1Q25** | **2Q25**<sup>(5)</sup> | **2Q24** | **1Q25** | **2Q25**<sup>(5)</sup> |
| **Assets** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits with banks | $250665 | $280566 | $298158 | $2710 | $3001 | $3043 | 4.35% | 4.34% | 4.09% |
| &nbsp;&nbsp;&nbsp;Securities borrowed and purchased under resale agreements<sup>(6)</sup> | 356969 | 362140 | 375205 | 7211 | 6291 | 6621 | 8.12% | 7.05% | 7.08% |
| &nbsp;&nbsp;&nbsp;Trading account assets<sup>(7)</sup>  | 388641 | 437378 | 506877 | 4503 | 4370 | 5821 | 4.66% | 4.05% | 4.61% |
| &nbsp;&nbsp;&nbsp;Investments | 510542 | 459354 | 449852 | 4827 | 4175 | 4215 | 3.80% | 3.69% | 3.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer loans | 383211 | 386690 | 390349 | 9780 | 9758 | 9771 | 10.26% | 10.23% | 10.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate loans | 296410 | 304047 | 321827 | 5718 | 4985 | 5212 | 7.76% | 6.65% | 6.50% |
| &nbsp;&nbsp;&nbsp;Total loans (net of unearned income)<sup>(8)</sup> | 679621 | 690737 | 712176 | 15498 | 14743 | 14983 | 9.17% | 8.66% | 8.44% |
| &nbsp;&nbsp;&nbsp;Other interest-earning assets | 70486 | 75982 | 83064 | 1260 | 1112 | 1204 | 7.19% | 5.94% | 5.81% |
| **Total average interest-earning assets** | $**2256924** | $**2306157** | $**2425332** | $**36009** | $**33692** | $**35887** | **6.42%** | **5.92%** | **5.93%** |
| **Liabilities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | $1108733 | $1103768 | $1138996 | $10235 | $8438 | $8685 | 3.71% | 3.10% | 3.06% |
| &nbsp;&nbsp;&nbsp;Securities loaned and sold under repurchase agreements<sup>(6)</sup> | 336367 | 372193 | 421198 | 6962 | 6256 | 6938 | 8.32% | 6.82% | 6.61% |
| &nbsp;&nbsp;&nbsp;Trading account liabilities<sup>(7)</sup> | 103548 | 91169 | 104148 | 794 | 757 | 748 | 3.08% | 3.37% | 2.88% |
| &nbsp;&nbsp;&nbsp;Short-term borrowings and other interest-bearing liabilities | 107277 | 130654 | 140571 | 1908 | 1726 | 1800 | 7.15% | 5.36% | 5.14% |
| &nbsp;&nbsp;&nbsp;Long-term debt<sup>(9)</sup> | 169529 | 175021 | 182803 | 2595 | 2477 | 2513 | 6.16% | 5.74% | 5.51% |
| **Total average interest-bearing liabilities** | $**1825454** | $**1872805** | $**1987716** | $**22494** | $**19654** | $**20684** | **4.96%** | **4.26%** | **4.17%** |
| **Net interest income as a % of average interest-earning assets (NIM)**<sup>(9)</sup> |  |  |  | $**13515** | $**14038** | $**15203** | **2.41%** | **2.47%** | **2.51%** |
| **2Q25 increase (decrease) from:** |  |  |  |  |  |  | **10 bps** | **4 bps** |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Interest income and Net interest income include the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $22 million for 2Q24, $26 million for 1Q25 and $28 million for 2Q25.

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(5) 2Q25 is preliminary.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of ASU 2013-01 (Topic 210).

&nbsp;&nbsp;&nbsp;&nbsp;(7) Interest expense on Trading account liabilities of Services, Markets, and Banking is reported as a reduction of Interest income. Interest income and Interest expense on cash collateral positions are reported in Trading account assets and Trading account liabilities, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Nonperforming loans are included in the average loan balances.

&nbsp;&nbsp;&nbsp;&nbsp;(9) Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions revenue.

Reclassified to conform to the current period's presentation.

**Page 15**

------

**EOP LOANS**<sup>(1)(2)</sup>

(In billions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** |
| **Corporate loans by region** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;North America | $129.6 | $127.5 | $130.8 | $138.7 | $146.5 | 6% | 13% |
| &nbsp;&nbsp;&nbsp;International | 172.0 | 172.3 | 170.6 | 177.0 | 183.1 | 3% | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total corporate loans** | $**301.6** | $**299.8** | $**301.4** | $**315.7** | $**329.6** | **4%** | **9%** |
| **Corporate loans by segment and reporting unit** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Services | $88.9 | $88.7 | $87.9 | $98.0 | $96.4 | (2%) | 8% |
| &nbsp;&nbsp;&nbsp;Markets | 119.5 | 120.0 | 125.3 | 129.8 | 144.3 | 11% | 21% |
| &nbsp;&nbsp;&nbsp;Banking | 86.7 | 84.7 | 82.1 | 81.4 | 81.9 | 1% | (6%) |
| &nbsp;&nbsp;&nbsp;All Other - Legacy Franchises - Banamex SBMM & AFG<sup>(3)</sup> | 6.5 | 6.4 | 6.1 | 6.5 | 7.0 | 8% | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total corporate loans** | $**301.6** | $**299.8** | $**301.4** | $**315.7** | $**329.6** | **4%** | **9%** |
| **Wealth by region** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;North America | $100.9 | $99.8 | $98.0 | $96.7 | $98.0 | 1% | (3%) |
| &nbsp;&nbsp;&nbsp;International | 49.5 | 51.2 | 49.5 | 50.6 | 52.7 | 4% | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**150.4** | $**151.0** | $**147.5** | $**147.3** | $**150.7** | **2%** | **-** |
| **USPB**<sup>(4)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded Cards | $115.3 | $115.9 | $121.1 | $116.3 | $120.2 | 3% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit cards | 111.8 | 112.1 | 117.3 | 112.6 | 116.6 | 4% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Personal installment loans (PIL) | 3.5 | 3.8 | 3.8 | 3.7 | 3.6 | (3%) | 3% |
| &nbsp;&nbsp;&nbsp;Retail Services | 51.7 | 51.6 | 53.8 | 50.2 | 50.7 | 1% | (2%) |
| &nbsp;&nbsp;&nbsp;Retail Banking | 42.7 | 45.6 | 46.8 | 48.2 | 49.3 | 2% | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**209.7** | $**213.1** | $**221.7** | $**214.7** | $**220.2** | **3%** | **5%** |
| **All Other—Consumer** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Banamex Consumer | $18.2 | $17.4 | $17.2 | $17.9 | $20.0 | 12% | 10% |
| &nbsp;&nbsp;&nbsp;Asia Consumer<sup>(5)</sup> | 5.6 | 5.5 | 4.7 | 4.5 | 3.0 | (33%) | (46%) |
| &nbsp;&nbsp;&nbsp;Legacy Holdings Assets (LHA) | 2.2 | 2.2 | 2.0 | 1.9 | 1.9 | - | (14%) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**26.0** | $**25.1** | $**23.9** | $**24.3** | $**24.9** | **2%** | **(4%)** |
| **Total consumer loans** | $**386.1** | $**389.2** | $**393.1** | $**386.3** | $**395.8** | **2%** | **2%** |
| **Total loans—EOP** | $**687.7** | $**688.9** | $**694.5** | $**702.1** | $**725.3** | **3%** | **5%** |
| **Total loans—average** | $**679.6** | $**686.5** | $**688.0** | $**690.7** | $**712.2** | **3%** | **5%** |
| **NCLs as a % of total average loans** | **1.35%** | **1.26%** | **1.30%** | **1.44%** | **1.26%** | **(18) bps** | **(9) bps** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Banamex SBMM, and the AFG.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Consumer loans include loans managed by USPB, Wealth, and All Other—Legacy Franchises (other than Banamex SBMM, and the AFG).

&nbsp;&nbsp;&nbsp;&nbsp;(3) Includes Legacy Franchises corporate loans activity related to Banamex SBMM and AFG (AFG was previously reported in Markets; all periods have been reclassified to reflect this move into Legacy Franchises), as well as other LHA corporate loans.

&nbsp;&nbsp;&nbsp;&nbsp;(4) See footnote 5 on page 9.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Asia Consumer also includes loans in Poland (through 1Q25) and Russia.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 16**

------

**EOP DEPOSITS**

(In billions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  |<br>**2Q**<br>**2024** |<br>**3Q**<br>**2024** |<br>**4Q**<br>**2024** |<br>**1Q**<br>**2025** |<br>**2Q**<br>**2025** | **1Q25** | **2Q24** |
| **Services, Markets, and Banking by region** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;North America | $376.1 | $394.7 | $397.8 | $406.2 | $414.4 | 2% | 10% |
| &nbsp;&nbsp;&nbsp;International | 431.0 | 444.9 | 422.5 | 444.4 | 477.2 | 7% | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $807.1 | $839.6 | $820.3 | $850.6 | $891.6 | 5% | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury and Trade Solutions | $655.1 | $683.7 | $680.7 | $692.1 | $726.4 | 5% | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities Services | 127.8 | 142.0 | 126.3 | 140.9 | 148.1 | 5% | 16% |
| &nbsp;&nbsp;&nbsp;Services | $782.9 | $825.7 | $807.0 | $833.0 | $874.5 | 5% | 12% |
| &nbsp;&nbsp;&nbsp;Markets<sup>(1)</sup> | 23.7 | 13.4 | 12.7 | 17.1 | 16.7 | (2%) | (30%) |
| &nbsp;&nbsp;&nbsp;Banking | 0.5 | 0.5 | 0.6 | 0.5 | 0.4 | (20%) | (20%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**807.1** | $**839.6** | $**820.3** | $**850.6** | $**891.6** | **5%** | **10%** |
| **Wealth** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;North America | $194.2 | $191.7 | $189.5 | $186.3 | $186.8 | - | (4%) |
| &nbsp;&nbsp;&nbsp;International | 123.8 | 124.6 | 123.3 | 122.4 | 123.1 | 1% | (1%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**318.0** | $**316.3** | $**312.8** | $**308.7** | $**309.9** | **-** | **(3%)** |
| **USPB** | $**86.1** | $**85.1** | $**89.4** | $**92.4** | $**90.5** | **(2%)** | **5%** |
| **All Other** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Legacy Franchises |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Banamex Consumer | $28.6 | $26.1 | $26.0 | $25.6 | $28.5 | 11% | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Banamex SBMM—corporate | 9.0 | 8.5 | 8.1 | 9.7 | 9.9 | 2% | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asia Consumer<sup>(2)</sup> | 8.3 | 8.4 | 7.5 | 7.4 | 1.5 | (80%) | (82%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Legacy Holdings Assets (LHA)<sup>(3)</sup> | 1.9 | 0.4 | 0.2 | 0.1 | 0.1 | - | (95%) |
| &nbsp;&nbsp;&nbsp;Corporate/Other<sup>(1)</sup> | 19.1 | 25.6 | 20.2 | 21.9 | 25.7 | 17% | 35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**66.9** | $**69.0** | $**62.0** | $**64.7** | $**65.7** | **2%** | **(2%)** |
| **Total deposits—EOP** | $**1278.1** | $**1310.0** | $**1284.5** | $**1316.4** | $**1357.7** | **3%** | **6%** |
| **Total deposits—average** | $**1309.9** | $**1311.1** | $**1320.4** | $**1305.0** | $**1342.8** | **3%** | **3%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) During the third quarter of 2024, approximately $9 billion of institutional deposits were moved from Markets to Corporate/Other, as they are managed by Citi Treasury. Prior periods were not impacted.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Asia Consumer also includes deposits in Poland (through 1Q25) and Russia.

&nbsp;&nbsp;&nbsp;&nbsp;(3) LHA includes deposits from the U.K. consumer banking business.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 17**

------

**ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD**

(In millions of dollars, except ratios)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Builds (Releases)** | **Builds (Releases)** | **Builds (Releases)** | **Builds (Releases)** | **Builds (Releases)** | | | **Builds (Releases)** | **Builds (Releases)** | **Builds (Releases)** | | | |
|  | <br>**Balance**<br>**12/31/23** | **1Q24** | **2Q24** | **3Q24** | **4Q24** | **FY 2024** | <br>**FY 2024**<br>**FX/Other** | <br>**Balance**<br>**12/31/24** | **1Q25** | **2Q25** | **YTD 2025** | <br>**2Q25**<br>**FX/Other** | <br>**Balance**<br>**6/30/25** | **ACLL/EOP**<br>**Loans**<br>**6/30/25** |
| **Allowance for credit losses on loans (ACLL)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Services | $397 | $34 | $(100) | $7 | $(71) | $(130) | $(3) | $264 | $24 | $53 | $77 | $6 | $347 |  |
| Markets | 820 | 120 | (111) | 37 | 167 | 213 | (3) | 1030 | 48 | 53 | 101 | 12 | 1143 |  |
| Banking | 1376 | (89) | (51) | 62 | (122) | (200) | (9) | 1167 | 78 | 137 | 215 | 28 | 1410 |  |
| Legacy Franchises corporate (Banamex SBMM & AFG<sup>(1)</sup>) | 121 | (8) | (12) | (3) | 10 | (13) | (13) | 95 | 4 | 16 | 20 | 8 | 123 |  |
| **Total corporate ACLL** | $**2714** | $**57** | $**(274)** | $**103** | $**(16)** | $**(130)** | $**(28)** | $**2556** | $**154** | $**259** | $**413** | $**54** | $**3023** | **0.94%** |
| U.S. Cards<sup>(2)</sup> | $12626 | $326 | $357 | $10 | $221 | $914 | $20 | $13560 | $(169) | $(12) | $(181) | $3 | $13382 | **8.00%** |
| Installment loans<sup>(3)</sup> | 319 | 13 | 30 | 30 | 32 | 105 | 1 | 425 | (5) | 7 | 2 | (2) | 425 |  |
| Retail Banking<sup>(3)</sup> | 157 | (2) | (5) | 1 | (7) | (13) | - | 144 | 3 | (1) | 2 | 1 | 147 |  |
| Total USPB | $13102 | $337 | $382 | $41 | $246 | $1006 | $21 | $14129 | $(171) | $(6) | $(177) | $2 | $13954 |  |
| Wealth | 767 | (190) | (43) | 8 | (11) | (236) | (2) | 529 | 61 | (64) | (3) | 9 | 535 |  |
| All Other—consumer | 1562 | (85) | 11 | 58 | 102 | 86 | (288) | 1360 | 58 | 54 | 112 | 139 | 1611 |  |
| **Total consumer ACLL** | $**15431** | $**62** | $**350** | $**107** | $**337** | $**856** | $**(269)** | $**16018** | $**(52)** | $**(16)** | $**(68)** | $**150** | $**16100** | **4.07%** |
| **Total ACLL** | $**18145** | $**119** | $**76** | $**210** | $**321** | $**726** | $**(297)** | $**18574** | $**102** | $**243** | $**345** | $**204** | $**19123** | **2.67%** |
| Allowance for credit losses on unfunded lending commitments (ACLUC) | $1728 | $(98) | $(8) | $105 | $(118) | $(119) | $(8) | $1601 | $108 | $(19) | $89 | $31 | $1721 |  |
| Total ACLL and ACLUC (EOP) | 19873 | 21 | 68 | 315 | 203 | 607 | (305) | 20175 | 210 | 224 | 434 | 235 | 20844 |  |
| Other<sup>(5)</sup> | 1883 | 14 | 107 | 160 | 131 | 412 | (293) | 2002 | 34 | 388 | 422 | 411 | 2835 |  |
| **Total allowance for credit losses (ACL)** | $**21756** | $**35** | $**175** | $**475** | $**334** | $**1019** | $**(598)** | $**22177** | $**244** | $**612** | $**856** | $**646** | $**23679** |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) See footnote 3 on page 16.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The December 31, 2024 ACLL balance includes approximately $20 million related to an acquired portfolio, which is also reflected in the FX/Other column in this table.

&nbsp;&nbsp;&nbsp;&nbsp;(3) See footnote 5 on page 9.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Includes ACL activity on HTM securities and Other assets.

Reclassified to conform to the current period's presentation.

**Page 18**

------

**ALLOWANCE FOR CREDIT LOSSES ON LOANS (ACLL) AND UNFUNDED LENDING COMMITMENTS (ACLUC)**

**Page 1**

(In millions of dollars)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** | **Six**<br>**Months**<br>**2024** | **Six**<br>**Months**<br>**2025** | **YTD 2025 vs.**<br>**YTD 2024 Increase/**<br>**(Decrease)** |
| **Total Citigroup** |  |  |  |  |  |  |  |  |  |  |
| **Allowance for credit losses on loans (ACLL) at beginning of period** | $**18296** | $**18216** | $**18356** | $**18574** | $**18726** | **1%** | **2%** | $**18145** | $**18574** | **2%** |
| Gross credit (losses) on loans | (2715) | (2609) | (2680) | (2926) | (2723) | 7% | - | (5405) | (5649) | (5%) |
| Gross recoveries on loans | 432 | 437 | 438 | 467 | 489 | 5% | 13% | 819 | 956 | 17% |
| **Net credit (losses) / recoveries on loans (NCLs)** | (2283) | (2172) | (2242) | (2459) | (2234) | (9%) | (2%) | (4586) | (4693) | 2% |
| Replenishment of NCLs | 2283 | 2172 | 2242 | 2459 | 2234 | (9%) | (2%) | 4586 | 4693 | 2% |
| Net reserve builds / (releases) for loans | 76 | 210 | 321 | 102 | 243 | 138% | 220% | 195 | 345 | 77% |
| **Provision for credit losses on loans (PCLL)** | **2359** | **2382** | **2563** | **2561** | **2477** | **(3%)** | **5%** | **4781** | **5038** | **5%** |
| Other, net<sup>(1)(2)(3)(4)(5)(6)</sup> | (156) | (70) | (103) | 50 | 154 | 208% | NM | (124) | 204 | NM |
| **ACLL at end of period (a)** | $**18216** | $**18356** | $**18574** | $**18726** | $**19123** | **2%** | **5%** | $**18216** | $**19123** | **5%** |
| **Allowance for credit losses on unfunded lending commitments (ACLUC)**<sup>(7)</sup> **(a)** | $**1619** | $**1725** | $**1601** | $**1720** | $**1721** | **-** | **6%** | $**1619** | $**1721** | **6%** |
| Provision (release) for credit losses on unfunded lending commitments | $(8) | $105 | $(118) | $108 | $(19) | NM | (138%) | $(106) | $89 | NM |
| **Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]** | $**19835** | $**20081** | $**20175** | $**20446** | $**20844** | **2%** | **5%** | $**19835** | $**20844** | **5%** |
| Total ACLL as a percentage of total loans<sup>(8)</sup> | 2.68% | 2.70% | 2.71% | 2.70% | 2.67% | (3) bps | (1) bps |  |  |  |
| **Consumer** |  |  |  |  |  |  |  |  |  |  |
| **ACLL at beginning of period** | $**15524** | $**15732** | $**15765** | $**16018** | $**16001** | **-** | **3%** | $**15431** | $**16018** | **4%** |
| Adjustments to opening balance |  |  |  |  |  |  |  |  |  |  |
| **NCLs** | (2175) | (2098) | (2191) | (2277) | (2185) | (4%) | - | (4314) | (4462) | 3% |
| Replenishment of NCLs | 2175 | 2098 | 2191 | 2277 | 2185 | (4%) | - | 4314 | 4462 | 3% |
| Net reserve builds / (releases) for loans | 350 | 107 | 337 | (52) | (16) | 69% | NM | 412 | (68) | NM |
| **Provision for credit losses on loans (PCLL)** | **2525** | **2205** | **2528** | **2225** | **2169** | **(3%)** | **(14%)** | **4726** | **4394** | **(7%)** |
| Other, net<sup>(1)(2)(3)(4)(5)(6)</sup> | (142) | (74) | (84) | 35 | 115 | 229% | NM | (111) | 150 | NM |
| **ACLL at end of period (b)** | $**15732** | $**15765** | $**16018** | $**16001** | $**16100** | **1%** | **2%** | $**15732** | $**16100** | **2%** |
| **Consumer ACLUC**<sup>(7)</sup> **(b)** | $**42** | $**39** | $**34** | $**31** | $**24** | **(23%)** | **(43%)** | $**42** | $**24** | **(43%)** |
| **Provision (release) for credit losses on unfunded lending commitments** | $**(4)** | $**(4)** | $**(2)** | $**(3)** | $**(1)** | **67%** | **75%** | $**(19)** | $**(4)** | **79%** |
| **Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]** | $**15774** | $**15804** | $**16052** | $**16032** | $**16124** | **1%** | **2%** | $**15774** | $**16124** | **2%** |
| Consumer ACLL as a percentage of total consumer loans | 4.08% | 4.05% | 4.08% | 4.14% | 4.07% | (7) bps | (1) bps |  |  |  |
| **Corporate** |  |  |  |  |  |  |  |  |  |  |
| **ACLL at beginning of period** | $**2772** | $**2484** | $**2591** | $**2556** | $**2725** | **7%** | **(2%)** | $**2714** | $**2556** | **(6%)** |
| **NCLs** | (108) | (74) | (51) | (182) | (49) | 73% | 55% | (272) | (231) | 15% |
| Replenishment of NCLs | 108 | 74 | 51 | 182 | 49 | (73%) | (55%) | 272 | 231 | (15%) |
| Net reserve builds / (releases) for loans | (274) | 103 | (16) | 154 | 259 | 68% | NM | (217) | 413 | NM |
| **Provision for credit losses on loans (PCLL)** | **(166)** | **177** | **35** | **336** | **308** | **(8%)** | **NM** | **55** | **644** | **NM** |
| Other, net<sup>(1)</sup> | (14) | 4 | (19) | 15 | 39 | 160% | NM | (13) | 54 | NM |
| **ACLL at end of period (c)** | $**2484** | $**2591** | $**2556** | $**2725** | $**3023** | **11%** | **22%** | $**2484** | $**3023** | **22%** |
| **Corporate ACLUC**<sup>(7)</sup> **(c)** | $**1577** | $**1686** | $**1567** | $**1689** | $**1697** | **-** | **8%** | $**1577** | $**1697** | **8%** |
| **Provision (release) for credit losses on unfunded lending commitments** | $**(4)** | $**109** | $**(116)** | $**111** | $**(18)** | **NM** | **(350%)** | $**(87)** | $**93** | **NM** |
| **Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]** | $**4061** | $**4277** | $**4123** | $**4414** | $**4720** | **7%** | **16%** | $**4061** | $**4720** | **16%** |
| Corporate ACLL as a percentage of total corporate loans<sup>(9)</sup> | 0.85% | 0.89% | 0.87% | 0.89% | 0.94% | 5 bps | 9 bps |  |  |  |

---

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

**Page 19**

------

**ALLOWANCE FOR CREDIT LOSSES ON LOANS (ACLL) AND UNFUNDED LENDING COMMITMENTS (ACLUC)**

**Page 2**

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency translation (FX translation), purchase accounting adjustments, etc.

&nbsp;&nbsp;&nbsp;&nbsp;(2) 2Q24 primarily relates to FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(3) 3Q24 primarily relates to FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(4) 4Q24 primarily relates to FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(5) 1Q25 primarily relates to FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(6) 2Q25 includes an approximate $25 million reclass related to Citi's agreement to sell its Poland consumer banking business.

That ACLL was transferred to *Other assets* beginning June 30, 2025. 2Q25 also includes FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Excludes loans that are carried at fair value of $8.5 billion, $8.1 billion, $8.0 billion, $8.2 billion, and $9.3 billion at June 30, 2024, September 30, 2024, December 31, 2024, March 31, 2025, and June 30, 2025, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(9) Excludes loans that are carried at fair value of $8.2 billion, $7.8 billion, $7.8 billion, $7.9 billion, and $9.2 billion at June 30, 2024, September 30, 2024, December 31, 2024, March 31, 2025, and June 30, 2025, respectively.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 20**

------

**NON-ACCRUAL ASSETS** 

(In millions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **2Q25 Increase/** | **2Q25 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  | <br>**2Q**<br>**2024** | <br>**3Q**<br>**2024** | <br>**4Q**<br>**2024** | <br>**1Q**<br>**2025** | <br>**2Q**<br>**2025** | **1Q25** | **2Q24** |
| **Corporate non-accrual loans by region**<sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;North America | $456 | $459 | $757 | $822 | $953 | 16% | 109% |
| &nbsp;&nbsp;&nbsp;International | 542 | 485 | 620 | 554 | 769 | 39% | 42% |
| **Total** | $**998** | $**944** | $**1377** | $**1376** | $**1722** | **25%** | **73%** |
| **Corporate non-accrual loans by segment and component**<sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Banking | $462 | $348 | $498 | $510 | $502 | (2%) | 9% |
| &nbsp;&nbsp;&nbsp;Services | 30 | 96 | 65 | 110 | 134 | 22% | 347% |
| &nbsp;&nbsp;&nbsp;Markets | 362 | 390 | 715 | 631 | 932 | 48% | 157% |
| &nbsp;&nbsp;&nbsp;Banamex SBMM & AFG | 144 | 110 | 99 | 125 | 154 | 23% | 7% |
| **Total** | $**998** | $**944** | $**1377** | $**1376** | $**1722** | **25%** | **73%** |
| **Consumer non-accrual loans**<sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Wealth | $303 | $284 | $404 | $415 | $637 | 53% | 110% |
| &nbsp;&nbsp;&nbsp;USPB | 285 | 292 | 290 | 305 | 329 | 8% | 15% |
| &nbsp;&nbsp;&nbsp;Banamex Consumer | 425 | 415 | 411 | 416 | 485 | 17% | 14% |
| &nbsp;&nbsp;&nbsp;Asia Consumer<sup>(2)</sup> | 22 | 21 | 19 | 20 | 16 | (20%) | (27%) |
| &nbsp;&nbsp;&nbsp;Legacy Holdings Assets—Consumer | 217 | 210 | 186 | 172 | 165 | (4%) | (24%) |
| **Total** | $**1252** | $**1222** | $**1310** | $**1328** | $**1632** | **23%** | **30%** |
| **Total non-accrual loans (NAL)** | $**2250** | $**2166** | $**2687** | $**2704** | $**3354** | **24%** | **49%** |
| **Other real estate owned (OREO)**<sup>(3)</sup> | $**27** | $**25** | $**18** | $**21** | $**26** | **24%** | **(4%)** |
| NAL as a percentage of total loans | 0.33% | 0.31% | 0.39% | 0.39% | 0.46% | 7 bps | 13 bps |
| ACLL as a percentage of NAL | 810% | 847% | 691% | 693% | 570% |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Corporate loans are placed on non-accrual status based on a review by Citigroup's risk officers. Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for consumer loans: consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at 90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at 180 days contractual delinquency. As such, the non-accrual loan disclosures do not include credit card loans. The balances above represent non-accrual loans within Consumer loans and Corporate loans on the Consolidated Balance Sheet.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Asia Consumer also includes Non-accrual assets in Poland (through 1Q25) and Russia.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

**Page 21**

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**COMMON EQUITY TIER 1 (CET1) CAPITAL AND SUPPLEMENTARY LEVERAGE RATIOS, TANGIBLE COMMON EQUITY, COMMON EQUITY, BOOK VALUE**

**PER SHARE AND TANGIBLE BOOK VALUE PER SHARE (TBVPS)**

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | **Six** | **Six** |
|  | **June 30,** | **September 30,** | **December 31,** | **March 31,** | **June 30,** | **Months** | **Months** |
| **CET1 Capital and Ratio and Components**<sup>(1)</sup> | **2024** | **2024** | **2024** | **2025** | **2025**<sup>(2)</sup> | **2024** | **2025** |
| Citigroup common stockholders' equity<sup>(3)</sup> | $190283 | $192796 | $190815 | $194125 | $196931 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: qualifying noncontrolling interests | 153 | 168 | 186 | 192 | 190 |  |  |
| Regulatory capital adjustments and deductions: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CECL transition provision<sup>(4)</sup> | 757 | 757 | 757 | - | - |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated net unrealized gains (losses) on cash flow hedges, net of tax | (629) | (773) | (220) | (213) | (141) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax | (760) | (906) | (910) | (32) | (408) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill, net of related deferred tax liabilities (DTLs)<sup>(5)</sup> | 18315 | 18397 | 17994 | 18122 | 18524 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs | 3138 | 3061 | 3357 | 3291 | 3236 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Defined benefit pension plan net assets and other | 1425 | 1447 | 1504 | 1532 | 1610 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards<sup>(6)</sup> | 11695 | 11318 | 11628 | 11517 | 11163 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs<sup>(6)(8)</sup> | 3652 | 3071 | 3042 | 4261 | 4205 |  |  |
| CET1 Capital | $154357 | $158106 | $155363 | $155839 | $158932 |  |  |
| Risk-Weighted Assets (RWA)<sup>(4)</sup> | $1135750 | $1153150 | $1139988 | $1162306 | $1180963 |  |  |
| CET1 Capital ratio (CET1/RWA) | 13.59% | 13.71% | 13.63% | 13.41% | 13.5% |  |  |
| **Supplementary Leverage Ratio and Components** |  |  |  |  |  |  |  |
| CET1<sup>(4)</sup> | $154357 | $158106 | $155363 | $155839 | $158932 |  |  |
| Additional Tier 1 Capital (AT1)<sup>(7)</sup> | 19426 | 17682 | 19164 | 19675 | 17674 |  |  |
| Total Tier 1 Capital (T1C) (CET1 + AT1) | $173783 | $175788 | $174527 | $175514 | $176606 |  |  |
| Total Leverage Exposure (TLE)<sup>(4)</sup> | $2949534 | $3005709 | $2985418 | $3033450 | $3193388 |  |  |
| Supplementary Leverage ratio (T1C/TLE)<sup>(4)</sup> | 5.89% | 5.85% | 5.85% | 5.79% | 5.5% |  |  |
| **Tangible Common Equity, Book Value and Tangible Book Value Per Share** |  |  |  |  |  |  |  |
| Common stockholders' equity | $190210 | $192733 | $190748 | $194058 | $196872 |  |  |
| Less: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 19704 | 19691 | 19300 | 19422 | 19878 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible assets (other than MSRs) | 3517 | 3438 | 3734 | 3679 | 3639 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS | - | 16 | 16 | 16 | 16 |  |  |
| Tangible common equity (TCE)<sup>(9)</sup> | $166989 | $169588 | $167698 | $170941 | $173339 |  |  |
| Common shares outstanding (CSO) | 1907.8 | 1891.3 | 1877.1 | 1867.7 | 1840.9 |  |  |
| Book value per share (common equity/CSO) | $99.70 | $101.91 | $101.62 | $103.90 | $106.94 |  |  |
| Tangible book value per share (TCE/CSO)<sup>(9)</sup> | $87.53 | $89.67 | $89.34 | $91.52 | $94.16 |  |  |
| **Average TCE** <u>(in billions of dollars)</u><sup>(9)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Services | $24.9 | $24.9 | $24.9 | $24.7 | $24.7 | $24.9  | $24.7  |
| &nbsp;&nbsp;&nbsp;&nbsp;Markets | 54.0 | 54.0 | 54.0 | 50.4 | 50.4 | 54.0  | 50.4  |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking | 21.8 | 21.8 | 21.8 | 20.6 | 20.6 | 21.8  | 20.6  |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth | 13.2 | 13.2 | 13.2 | 12.3 | 12.3 | 13.2  | 12.3  |
| &nbsp;&nbsp;&nbsp;&nbsp;USPB | 25.2 | 25.2 | 25.2 | 23.4 | 23.4 | 25.2  | 23.4  |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other | 27.0 | 29.2 | 29.5 | 37.9 | 40.7 | 26.3  | 39.3  |
| **Total Citi average TCE** | $**166.1** | $**168.3** | $**168.6** | $**169.3** | $**172.1** | $**165.4**  | $**170.7**  |
| **Plus:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average goodwill | $19.5 | $19.6 | $19.4 | $18.8 | $19.8 | $19.5  | $18.7  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average intangible assets (other than MSRs) | 3.6 | 3.5 | 3.6 | 3.7 | 3.7 | 3.7  | 4.3  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS | - | - | - | - | - | -  | -  |
| **Total Citi average common stockholders' equity** (in billions of dollars) | $**189.2** | $**191.4** | $**191.6** | $**191.8** | $**195.6** | $**188.6**  | $**193.7**  |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) See footnote 3 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(2) June 30, 2025 is preliminary.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.

&nbsp;&nbsp;&nbsp;&nbsp;(4) See footnote 4 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Includes goodwill "embedded" in the valuation of significant common stock investments in unconsolidated financial institutions.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit, and general business credit tax carry-forwards and DTAs arising from temporary differences (future deductions) that are deducted from CET1 Capital exceeding the 10% limitation.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences, and significant common stock investments in unconsolidated financial institutions. For all periods presented, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.

&nbsp;&nbsp;&nbsp;&nbsp;(9) TCE and TBVPS are non-GAAP financial measures.

Reclassified to conform to the current period's presentation.

**Page 22**

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## Exhibit 99.3

?xml version='1.0' encoding='ASCII'? Citigroup Inc._July 15, 2025

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| | | | |
|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;**Exhibit 99.3** |
| **Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:** | **Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:** | **Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:** | **Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:** |
| &nbsp;&nbsp;**Title of each class** | &nbsp;&nbsp;**TickerSymbol(s)** | &nbsp;&nbsp;**Title for iXBRL** | &nbsp;&nbsp;**Name of eachexchange onwhich registered** |
| &nbsp;&nbsp;Common Stock, par value $.01 per share | &nbsp;&nbsp;&nbsp;&nbsp;C | &nbsp;&nbsp;Common Stock, par value $.01 per share | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;7.625% Trust Preferred Securities of Citigroup Capital III (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/36Y | &nbsp;&nbsp;7.625% TRUPs of Cap III (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;7.875% Fixed Rate / Floating Rate Trust Preferred Securities (TruPS<sup>®</sup>) of Citigroup Capital XIII (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C N | &nbsp;&nbsp;7.875% FXD / FRN TruPS of Cap XIII (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Medium-Term Senior Notes, Series N, Callable Step- Up Coupon Notes Due March 31, 2036 of CGMHI (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/36A | &nbsp;&nbsp;MTN, Series N, Callable Step-Up Coupon Notes Due Mar 2036 of CGMHI (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Medium-Term Senior Notes, Series N, Callable Step- Up Coupon Notes Due February 26, 2036 of CGMHI (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/36 | &nbsp;&nbsp;MTN, Series N, Callable Step-Up Coupon Notes Due Feb 2036 of CGMHI (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes Due December 18, 2035 of CGMHI (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/35 | &nbsp;&nbsp;MTN, Series N, Callable Fixed Rate Notes Due Dec 2035 of CGMHI (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes Due April 26, 2028 of CGMHI (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/28 | &nbsp;&nbsp;MTN, Series N, Callable Fixed Rate Notes Due Apr 2028 of CGMHI (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 17, 2026 of CGMHI (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/26 | &nbsp;&nbsp;MTN, Series N, Floating Rate Notes Due Sept 2026 of CGMHI (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 15, 2028 of CGMHI (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/28A | &nbsp;&nbsp;MTN, Series N, Floating Rate Notes Due Sept 2028 of CGMHI (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Medium-Term Senior Notes, Series N, Floating Rate Notes Due October 6, 2028 of CGMHI (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/28B | &nbsp;&nbsp;MTN, Series N, Floating Rate Notes Due Oct 2028 of CGMHI (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Medium-Term Senior Notes, Series N, Floating Rate Notes Due March 21, 2029 of CGMHI (and registrant's guaranty with respect thereto) | &nbsp;&nbsp;&nbsp;&nbsp;C/29A | &nbsp;&nbsp;MTN, Series N, Floating Rate Notes Due Mar 2029 of CGMHI (and registrant's guaranty) | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |

---