# EDGAR Filing Document

**Accession Number:** 0000831001
**File Stem:** 0001104659-23-003663
**Filing Date:** 2023-1
**Character Count:** 148696
**Document Hash:** 33707a6f1d28b0a6e1752aefca0f4d92
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-003663.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001104659-23-003663

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20230113

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

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITIGROUP INC
- **CENTRAL INDEX KEY:** 0000831001
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 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:** 23527489

**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='UTF-8'? U

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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) **January 13, 2023**

### 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-20221014xex99d3.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 January 13, 2023, Citigroup Inc. announced its results for the quarter and year ended December 31, 2022. A copy of the related press release, filed as Exhibit 99.1 to this Form 8-K, is incorporated herein by reference in its entirety and shall be deemed to be "filed" for purposes of the Securities Exchange Act of 1934, as amended (the Act).

In addition, a copy of the Citigroup Inc. Quarterly Financial Data Supplement for the quarter and year ended December 31, 2022 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** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;99.1 | [Citigroup Inc. press release dated January 13, 2023.](c-20221014xex99d1.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;99.2 | [Citigroup Inc. Quarterly Financial Data Supplement for the quarter and year ended December 31, 2022.](c-20221014xex99d2.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;99.3 | [Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date.](c-20221014xex99d3.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;104.1 | See the cover page of this Current Report on Form 8-K, formatted in Inline XBRL. |

---

**SIGNATURE**

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

---

| | | |
|:---|:---|:---|
|  |  | CITIGROUP INC. |
| Dated: January 13, 2023 |  |  |
|  | By: | /s/ Johnbull E. Okpara |
|  |  | Johnbull E. Okpara |
|  |  | Controller and Chief Accounting Officer |
|  |  | (Principal Accounting Officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| **For Immediate Release**<br>**Citigroup Inc. (NYSE: C)**<br>**January 13, 2023** |  |
| **FOURTH QUARTER AND FULL YEAR 2022 RESULTS AND KEY METRICS**<br>![Graphic](c-20221014xex99d1002.jpg)<br>![Graphic](c-20221014xex99d1003.jpg) | CEO COMMENTARY<br>|
| **FOURTH QUARTER AND FULL YEAR 2022 RESULTS AND KEY METRICS**<br>![Graphic](c-20221014xex99d1002.jpg)<br>![Graphic](c-20221014xex99d1003.jpg) | <br>*Citi CEO Jane Fraser said, "One of our major goals in 2022 was to put in place a strategic plan designed to create long-term value for our shareholders and I am pleased with the significant progress we have already made in terms of our Transformation, simplification and strengthening our five interconnected businesses, some of which delivered excellent results this quarter.*<br>*"With their revenues up 32%, Services delivered another excellent quarter, and we have gained significant share in both Treasury and Trade Solutions and Securities Services. Markets had the best fourth quarter in recent memory, driven by a 31% increase in Fixed Income, while Banking and Wealth Management were impacted by the same market conditions they faced throughout the year. Our cards businesses had double-digit revenue growth for the second straight quarter, and we continue to make progress on our international consumer exits, closing five sales to date.*<br>*"Over the course of 2022, we returned over $7 billion to our shareholders. We ended the year with a CET1 capital ratio of 13% and a tangible book value per share of $81.65. We intentionally designed a strategy that can deliver for our shareholders in different environments, and we are very much on track to reach the medium-term return targets we shared on Investor Day," Ms. Fraser concluded.* |
| **RETURNED $1.0 BILLION IN DIVIDENDS TO COMMON SHAREHOLDERS** <br>**PAYOUT RATIO OF 44%**<sup>(3)</sup><br>**BOOK VALUE PER SHARE OF $94.06**<br>**TANGIBLE BOOK VALUE PER SHARE OF $81.65**<sup>(4)</sup><br>New York, January 13, 2023 – Citigroup Inc. today reported net income for the fourth quarter 2022 of $2.5 billion, or $1.16 per diluted share, on revenues of $18.0 billion. This compares to net income of $3.2 billion, or $1.46 per diluted share, on revenues of $17.0 billion for the fourth quarter 2021. <br>Fourth quarter results included divestiture-related impacts of approximately $192 million in earnings before taxes (approximately $113 million after-tax), primarily driven by a gain on the sale of the Thailand consumer business. Excluding these divestiture-related impacts, earnings per share was $1.10<sup>(5)</sup>. This compares to divestiture-related impacts in the fourth quarter 2021 of approximately $1.2 billion in earnings before taxes (approximately $1.1 billion after-tax), primarily driven by costs related to the Korea voluntary early retirement program (VERP)<sup>(5)</sup>.<br>Revenues increased 6% from the prior-year period and 5% excluding the divestiture-related impacts<sup>(5)</sup>, as growth in net interest income was partially offset by lower non-interest revenues. The higher net interest income was driven by the impact of higher interest rates across businesses and strong loan growth in *Personal Banking and Wealth Management (PBWM)*. The lower non-interest revenues reflected declines in *Investment Banking* in *Institutional Clients Group (ICG)* and lower investment product revenues in *Global Wealth Management* in *PBWM*.<br>Net income of $2.5 billion decreased 21% from the prior-year period, and decreased 43% excluding the divestiture-related impacts, primarily driven by higher cost of credit, largely resulting from the loan growth in *PBWM* and deterioration in macroeconomic assumptions, partially offset by the higher revenues and lower expenses. | <br>*Citi CEO Jane Fraser said, "One of our major goals in 2022 was to put in place a strategic plan designed to create long-term value for our shareholders and I am pleased with the significant progress we have already made in terms of our Transformation, simplification and strengthening our five interconnected businesses, some of which delivered excellent results this quarter.*<br>*"With their revenues up 32%, Services delivered another excellent quarter, and we have gained significant share in both Treasury and Trade Solutions and Securities Services. Markets had the best fourth quarter in recent memory, driven by a 31% increase in Fixed Income, while Banking and Wealth Management were impacted by the same market conditions they faced throughout the year. Our cards businesses had double-digit revenue growth for the second straight quarter, and we continue to make progress on our international consumer exits, closing five sales to date.*<br>*"Over the course of 2022, we returned over $7 billion to our shareholders. We ended the year with a CET1 capital ratio of 13% and a tangible book value per share of $81.65. We intentionally designed a strategy that can deliver for our shareholders in different environments, and we are very much on track to reach the medium-term return targets we shared on Investor Day," Ms. Fraser concluded.* |

---

------

Earnings per share of $1.16 decreased 21% from the prior-year period, reflecting the lower net income, partially offset by an approximate 2% decline in average diluted shares outstanding.

For the full year 2022, Citigroup reported net income of $14.8 billion on revenues of $75.3 billion, compared to net income of $22.0 billion on revenues of $71.9 billion for the full year 2021.

Percentage comparisons throughout this press release are calculated for the fourth quarter 2022 versus the fourth quarter 2021, unless otherwise specified.

<u>Fourth Quarter Financial Results</u>

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Citigroup <br>($ in millions, except per share amounts and as otherwise noted)** | **4Q'22** | **4Q'22** | **3Q'22** | **3Q'22** | **4Q'21** | **4Q'21** | ***QoQ%*** |  | ***YoY%*** | **2022** | **2022** | **2021** | **2021** | **%**△ |
| &nbsp;&nbsp;&nbsp;&nbsp;Institutional Clients Group | $| 9159 | $ | 9468 | $| 8908 | *(3)%* |  | *3%* | 41206 | 41206 | 39836 | 39836 | *3%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Personal Banking and Wealth Management | 6096 | 6096 | 6187 | 6187 | 5785 | 5785 | *(1)%* |  | *5%* | 24217 | 24217 | 23327 | 23327 | *4%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Legacy Franchises | 2052 | 2052 | 2554 | 2554 | 2193 | 2193 | *(20)%* |  | *(6)%* | 8472 | 8472 | 8251 | 8251 | *3%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate / Other | 699 | 699 | 299 | 299 | 131 | 131 | *NM* |  | *NM* | 1443 | 1443 | 470 | 470 | *NM* |
| **Total revenues, net of interest expense** | **18006** | **18006** | **18508** | **18508** | **17017** | **17017** | ***(3)%*** |  | ***6%*** | $**75338** | **75338** | $**71884** | **71884** | ***5%*** |
| **Total operating expenses** | **12985** | **12985** | **12749** | **12749** | **13532** | **13532** | ***2%*** |  | ***(4)%*** | $**51292** | **51292** | $**48193** | **48193** | ***6%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses | 1180 | 1180 | 887 | 887 | 866 | 866 | *33%* |  | *36%* | 3789 | 3789 | 4895 | 4895 | *(23)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Net ACL build / (release)<sup>(a)</sup> | 640 | 640 | 370 | 370 | (1369) | (1369) | *73%* |  | *NM* | 1247 | 1247 | (8786) | (8786) | *NM* |
| &nbsp;&nbsp;&nbsp;&nbsp;Other provisions<sup>(b)</sup> | 25 | 25 | 108 | 108 | 38 | 38 | *(77)%* |  | *(34)%* | 203 | 203 | 113 | 113 | *80%* |
| **Total cost of credit** | **1845** | **1845** | **1365** | **1365** | **(465)** | **(465)** | ***35%*** |  | ***NM*** | $**5239** | **5239** | $**(3778)** | **(3778)** | ***NM*** |
| **Income from continuing operations before income taxes** | **3176** | **3176** | **4394** | **4394** | **3950** | **3950** | ***(28)%*** |  | ***(20)%*** | $**18807** | **18807** | $**27469** | **27469** | ***(32)%*** |
| Provision for income taxes | 640 | 640 | 879 | 879 | 771 | 771 | *(27)%* |  | *(17)%* | 3642 | 3642 | 5451 | 5451 | *(33)%* |
| **Income from continuing operations** | **2536** | **2536** | **3515** | **3515** | **3179** | **3179** | ***(28)%*** |  | ***(20)%*** | $**15165** | **15165** | $**22018** | **22018** | ***(31)%*** |
| Income (loss) from discontinued operations, net of taxes | (2) | (2) | (6) | (6) | - | - | *67%* |  | *NM* | (231) | (231) | 7 | 7 | *NM* |
| Net income attributable to non-controlling interest | 21 | 21 | 30 | 30 | 6 | 6 | *(30)%* |  | *NM* | 89 | 89 | 73 | 73 | *22%* |
| **Citigroup's net income** | **$** | **2513** | **3479** | **3479** | **$** | **3173** | ***(28)%*** |  | ***(21)%*** | $**14845** | **14845** | $**21952** | **21952** | ***(32)%*** |
| **Income (loss) from continuing operations, net of taxes** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Institutional Clients Group | 1916 | 1916 | 2186 | 2186 | 2330 | 2330 | *(12)%* |  | *(18)%* | 10738 | 10738 | 14308 | 14308 | *(25)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Personal Banking and Wealth Management | 114 | 114 | 792 | 792 | 1613 | 1613 | *(86)%* |  | *(93)%* | 3319 | 3319 | 7734 | 7734 | *(57)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Legacy Franchises | 75 | 75 | 316 | 316 | (620) | (620) | *(76)%* |  | *NM* | (9) | (9) | (9) | (9) | *-* |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate / Other | 431 | 431 | 221 | 221 | (144) | (144) | *95%* |  | *NM* | 1117 | 1117 | (15) | (15) | *NM* |
| EOP loans ($B) | 657 | 657 | 646 | 646 | 668 | 668 | *2%* |  | *(2)%* | - | - | - | - | *-* |
| EOP assets ($B) | 2417 | 2417 | 2381 | 2381 | 2291 | 2291 | *1%* |  | *5%* | - | - | - | - | *-* |
| EOP deposits ($B) | 1366 | 1366 | 1306 | 1306 | 1317 | 1317 | *5%* |  | *4%* | - | - | - | - | *-* |
| **Book value per share** | **$** | **94.06** | **$** | **92.71** | **$** | **92.21** | ***1%*** |  | ***2%*** | **$** | **94.06** | **$** | **92.21** | ***2%*** |
| **Tangible book value per share**<sup>(4)</sup> | **$** | **81.65** | **$** | **80.34** | **$** | **79.16** | ***2%*** |  | ***3%*** | **$** | **81.65** | **$** | **79.16** | ***3%*** |
| **Common Equity Tier 1 (CET1) Capital ratio**<sup>(2)</sup> | **13.0%** | **13.0%** | **12.3%** | **12.3%** | **12.2%** | **12.2%** |  |  |  | **13.0%** | **13.0%** | **12.2%** | **12.2%** |  |
| **Supplementary Leverage ratio (SLR)**<sup>(2)</sup> | **5.8%** | **5.8%** | **5.7%** | **5.7%** | **5.7%** | **5.7%** |  |  |  | **5.8%** | **5.8%** | **5.7%** | **5.7%** |  |
| **Return on average common equity** | **5.0%** | **5.0%** | **7.1%** | **7.1%** | **6.4%** | **6.4%** |  |  |  | **7.7%** | **7.7%** | **11.5%** | **11.5%** |  |
| **Return on average tangible common equity (RoTCE)**<sup>(1)</sup> | **5.8%** | **5.8%** | **8.2%** | **8.2%** | **7.4%** | **7.4%** |  |  |  | **8.9%** | **8.9%** | **13.4%** | **13.4%** |  |

---

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

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

(b) Includes provisions for policyholder benefits and claims, HTM debt securities and other assets.

------

<u>Citigroup</u>

**Citigroup revenues** of $18.0 billion in the fourth quarter 2022 increased 6%. Excluding the divestiture-related impacts, primarily driven by the gain on the sale of the Thailand consumer business in the current quarter, revenues were up 5%, as the impacts of higher interest rates across businesses and the strong loan growth in *US Personal Banking* were partially offset by the decline in *Investment Banking* and the lower investment product revenues in *Global Wealth Management* as well as impacts from the closed exit markets.

**Citigroup operating expenses** of $13.0 billion in the fourth quarter 2022 decreased 4%, primarily driven by the absence of divestiture-related costs related to the Korea VERP in the prior-year period. Operating expenses included approximately $58 million of divestiture-related costs in the current quarter compared to approximately $1.2 billion in the prior-year period. Excluding these costs in both periods, expenses increased 5%, largely driven by transformation investments, business-led investments, and volume-related expenses, partially offset by the benefit of productivity savings and expense reduction of the market exits.

**Citigroup cost of credit** was approximately $1.8 billion in the fourth quarter 2022, compared to $(0.5) billion in the prior-year period, reflecting a net build in the allowance for credit losses (ACL) for loans and unfunded commitments of $640 million, primarily due to the loan growth in *PBWM* and the deterioration in macroeconomic assumptions, compared to a net ACL release of $(1.4) billion in the prior-year period. The higher cost of credit also reflected higher net credit losses, primarily driven by ongoing normalization in cards, particularly in *Retail Services*.

**Citigroup net income** of $2.5 billion in the fourth quarter 2022 decreased 21% from the prior-year period, primarily driven by the higher cost of credit, partially offset by the higher revenues and lower expenses. Citigroup's effective tax rate was 20.2% in the current quarter versus 19.5% in the fourth quarter 2021.

**Citigroup's total allowance for credit losses on loans** was approximately $17.0 billion at quarter end, with a reserve-to-funded loans ratio of 2.60%, compared to $16.5 billion, or 2.49% of funded loans, at the end of the prior-year period. Total non-accrual loans decreased 28% from the prior-year period to $2.4 billion. Consumer non-accrual loans decreased 28% to $1.3 billion and corporate non-accrual loans decreased 28% to $1.1 billion.

**Citigroup's end-of-period loans** were $657 billion at quarter end, down 2% versus the prior-year period, as the decline in *Legacy Franchises* more than offset growth in *US Personal Banking* and the impact of foreign exchange translation.

**Citigroup's end-of-period deposits** were $1.4 trillion at quarter end, an increase of 4% versus the prior-year period, largely driven by deposit growth in *Treasury and Trade Solutions (TTS)*, partially offset by lower deposits in *Legacy Franchises* and the impact of foreign exchange translation.

------

**Citigroup's book value** per share of $94.06 and tangible book value per share of $81.65 at quarter end increased 2% and 3%, respectively, largely driven by the net income and the lower shares outstanding, partially offset by adverse movements in the accumulated other comprehensive income (AOCI) component of equity and payment of common dividends. At quarter end, Citigroup's CET1 capital ratio was 13.0% versus 12.3% in the prior quarter, largely reflecting the benefits of net income, closing of exit markets, and the optimization of risk-weighted assets (RWA). Citigroup's Supplementary Leverage ratio for the fourth quarter 2022 was 5.8% versus 5.7% in the prior quarter. During the quarter, Citigroup returned a total of $1 billion to common shareholders in the form of dividends.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Institutional Clients Group<br>($ in millions, except as otherwise noted)** | **4Q'22** | **3Q'22** | **4Q'21** | ***QoQ%*** | ***YoY%*** | **2022** | **2021** | **%**△ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities Services | $1040 | $968 | $855 | *7%* | *22%* | 3859 | 3367 | *15%* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury and Trade Solutions | 3290 | 3209 | 2415 | *3%* | *36%* | 12163 | 9215 | *32%* |
| &nbsp;&nbsp;**Total Services revenues** | **4330** | **4177** | **3270** | ***4%*** | ***32%*** | **16022** | **12582** | ***27%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed Income Markets | 3155 | 3062 | 2414 | *3%* | *31%* | 14555 | 12880 | *13%* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity Markets | 789 | 1006 | 918 | *(22)%* | *(14)%* | 4558 | 4996 | *(9)%* |
| &nbsp;&nbsp;**Total Markets revenues** | **3944** | **4068** | **3332** | ***(3)%*** | ***18%*** | **19113** | **17876** | ***7%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Banking | 645 | 631 | 1553 | *2%* | *(58)%* | 3109 | 6631 | *(53)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Lending<sup>(a)</sup> | 540 | 648 | 732 | *(17)%* | *(26)%* | 2655 | 2887 | *(8)%* |
| &nbsp;&nbsp;**Total Banking revenues**<sup>(a)</sup> | **1185** | **1279** | **2285** | ***(7)%*** | ***(48)%*** | **5764** | **9518** | ***(39)%*** |
| **Product revenues, net of interest expense**<sup>(a)</sup> | **9459** | **9524** | **8887** | ***(1)%*** | ***6%*** | $**40899** | $**39976** | ***2%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain / (loss) on loan hedges | (300) | (56) | 21 | *NM* | *NM* | 307 | (140) | *NM* |
| **Total revenues, net of interest expense** | **9159** | **9468** | **8908** | ***(3)%*** | ***3%*** | $**41206** | $**39836** | ***3%*** |
| **Total operating expenses** | **6601** | **6541** | **6225** | ***1%*** | ***6%*** | $**26299** | $**23949** | ***10%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses | 104 | -  | 82 | *NM* | *27%* | 152 | 356 | *(57)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Net ACL build / (release)<sup>(b)</sup> | (54) | 16 | (373) | *NM* | *86%* | 665 | (2846)  | *NM* |
| &nbsp;&nbsp;&nbsp;&nbsp;Other provisions<sup>(c)</sup> | 6 | 70 | 10 | *(91)%* | *(40)%* | 94 | -  | *NM* |
| **Total cost of credit** | **56** | **86** | **(281)** | ***(35)%*** | ***NM*** | $**911** | $**(2490)**  | ***NM*** |
| **Net income** | $**1896** | $**2162** | $**2320** | ***(12)%*** | ***(18)%*** | $**10659** | $**14225** | ***(25)%*** |
| **Services Key Drivers** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cross border transaction value ($B) | 81 | 76 | 78 | *7%* | *4%* | 312 | 280 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial card spend volume ($B) | 15 | 16 | 11 | *(1)%* | *35%* | 57 | 39 | 49% |
| &nbsp;&nbsp;&nbsp;&nbsp;US dollar clearing volume (#MM) | 38 | 38 | 38 | *2%* | *1%* | 149 | 146 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets under custody and/or administration (AUC/AUA) ($T) | 22 | 21 | 24 | *6%* | *(7)%* | -  | -  | - |

---

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, please refer to Footnote 6.

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

(c) Includes provisions for HTM debt securities and other assets.

------

<u>Institutional Clients Group</u>

***ICG* revenues** of $9.2 billion increased 3% (including gain/(loss) on loan hedges)<sup>(6)</sup>, as strength in TTS, Securities *Services* and *Fixed Income Markets* was partially offset by a decline in *Banking and Equity Markets*.

***Services* revenues** of $4.3 billion increased 32%. *Treasury and Trade Solutions (TTS)* revenues of $3.3 billion increased 36%, driven by 61% growth in net interest income, partially offset by a 1% decrease in non-interest revenue. Strong performance in TTS was driven by business actions, which included managing deposit repricing, deepening of relationships with existing clients, and significant new client wins across all segments, as well as the benefit of higher interest rates. *Securities Services* revenues of $1.0 billion increased 22%, as net interest income increased significantly, driven by higher interest rates across currencies, partially offset by a 9% decrease in non-interest revenue due to the impact of lower market valuations on assets under custody and administration.

***Markets* revenues** of $3.9 billion increased 18%, largely driven by growth in *Fixed Income Markets*. *Fixed Income Markets* revenues of $3.2 billion increased 31%, driven by strength in rates and currencies. *Equity Markets* revenues of $789 million were down 14%, primarily reflecting reduced client activity in equity derivatives, partially offset by growth in prime services.

***Banking* revenues** of $0.9 billion decreased 62%, including gain/losses on loan hedges in the current quarter and the prior-year period. Excluding gain/losses on loan hedges, *Banking* revenues of $1.2 billion decreased 48%, driven by lower revenues in *Investment Banking* and *Corporate Lending*. *Investment Banking* revenues of $645 million decreased 58%, as heightened macroeconomic uncertainty and volatility continued to impact client activity. Excluding gain/losses on loan hedges, *Corporate Lending* revenues decreased 26% versus the prior-year period, driven by lower volumes, higher credit default swap premiums, and impacts of foreign exchange translation.

***ICG operating expenses*** of $6.6 billion increased 6%, driven by transformation investments, business-led investments, and volume-related expenses, partially offset by the impacts of foreign exchange translation and productivity savings.

***ICG cost of credit*** of $56 million, compared to $(281) million in the prior-year period, included a net ACL release for loans and unfunded commitments of $(54) million and net credit losses of $104 million. The ACL release was primarily driven by the reduction of certain direct exposures in Russia, partially offset by an increase related to the deterioration in macroeconomic assumptions.

***ICG net income*** of $1.9 billion decreased 18%, largely driven by the higher expenses and the higher cost of credit, partially offset by the higher revenues.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Personal Banking and Wealth Management**<br>**($ in millions, except as otherwise noted)** | **4Q'22** | **3Q'22** | **4Q'21** | ***QoQ%*** | ***YoY%*** | **2022** | **2021** | **%**△ |
| &nbsp;&nbsp;&nbsp;&nbsp;Branded Cards | $2376 | $2258 | $2073 | *5%* | *15%* | 8892 | 8190 | *9%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Services | 1420 | 1431 | 1290 | *(1)%* | *10%* | 5450 | 5082 | *7%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail Banking | 608 | 642 | 624 | *(5)%* | *(3)%* | 2501 | 2506 | *-* |
| &nbsp;&nbsp;**Total US Personal Banking revenues** | **4404** | **4331** | **3987** | ***2%*** | ***10%*** | $**16843** | $**15778** | ***7%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Private Bank | 589 | 649 | 688 | *(9)%* | *(14)%* | 2762 | 2943 | *(6)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Wealth at Work | 195 | 182 | 177 | *7%* | *10%* | 730 | 691 | *6%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigold | 908 | 1025 | 933 | *(11)%* | *(3)%* | 3882 | 3915 | *(1)%* |
| &nbsp;&nbsp;**Total Global Wealth Management revenues** | **1692** | **1856** | **1798** | ***(9)%*** | ***(6)%*** | **7374** | **7549** | ***(2)%*** |
| **Total revenues, net of interest expense** | **6096** | **6187** | **5785** | ***(1)%*** | ***5%*** | $**24217** | $**23327** | ***4%*** |
| **Total operating expenses** | **4307** | **4077** | **4017** | ***6%*** | ***7%*** | $**16258** | $**14610** | ***11%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses | 908 | 723 | 568 | *26%* | *60%* | 3021 | 3061 | *(1)%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Net ACL build / (release)<sup>(a)</sup> | 752 | 379 | (869) | *98%* | *NM* | 718 | (4300) | *NM* |
| &nbsp;&nbsp;&nbsp;&nbsp;Other provisions<sup>(b)</sup> | 6 | 7 | 5 | *(14)%* | *20%* | 15 | 15 | *-* |
| **Total cost of credit** | **1666** | **1109** | **(296)** | ***50%*** | ***NM*** | $**3754** | $**(1224)** | ***NM*** |
| **Net income** | $**114** | $**792** | $**1613** | ***(86)%*** | ***(93)%*** | $**3319** | $**7734** | ***(57)%*** |
| **Key Indicators ($B)** |  |  |  |  |  |  |  |  |
| US Personal Banking average loans | 180 | 174 | 162 | *3%* | *11%* | 170 | 159 | *7%* |
| US Personal Banking average deposits | 111 | 115 | 114 | *(3)%* | *(3)%* | 115 | 112 | *3%* |
| US cards average loans | 143 | 138 | 128 | *4%* | *12%* | 136 | 124 | *9%* |
| US credit card spend volume<sup>(c)</sup> | 152 | 145 | 142 | *5%* | *7%* | 574 | 503 | *14%* |
| Global Wealth Management client assets | 746 | 708 | 814 | *5%* | *(8)%* | - | - | *-* |
| Global Wealth Management average loans | 150 | 151 | 150 | *(1)%* | *-* | 151 | 148 | *2%* |
| Global Wealth Management average deposits | 320 | 313 | 323 | *2%* | *(1)%* | 320 | 305 | *5%* |

---

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

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

(b) Includes provisions for policyholder benefits and claims, HTM debt securities and other assets.

(c) Credit card spend volume was previously referred to as card purchase sales

<u>Personal Banking and Wealth Management</u>

***PBWM revenues*** of $6.1 billion increased 5%, as net interest income growth, driven by strong loan growth across *US Personal Banking* and higher interest rates, was partially offset by a decline in non-interest revenue, driven by the lower investment product revenues in *Global Wealth Management* and higher partner payments in *Retail Services*.

***US Personal Banking* revenues** of $4.4 billion increased 10%. *Branded Cards* revenues of $2.4 billion increased 15%, primarily driven by the higher net interest income. In *Branded Cards*, card spend volumes increased 9% and average loans increased 13%. *Retail Services* revenues of $1.4 billion increased 10%, driven by higher interest-earning balances, partially offset by the higher partner payments. *Retail Banking* revenues of $608 million decreased 3%, primarily driven by lower mortgage volumes.

***Global Wealth Management* revenues** of $1.7 billion decreased 6%, as investment product revenue headwinds, more than offset net interest income growth from the higher interest rates particularly in Asia. Excluding Asia<sup>(7)</sup>, revenues were largely unchanged.

***PBWM* operating expenses** of $4.3 billion increased 7%, primarily driven by transformation investments and other risk and control initiatives.

***PBWM* cost of credit** was $1.7 billion compared to $(296) million in the prior-year period. The increase was largely driven by a net build in the ACL for loans and unfunded commitments of $752 million in the current quarter, primarily driven by cards volume growth and the deterioration in macroeconomic assumptions, compared to a net ACL release of $869 million in the prior-year period. Net credit losses of $908 million increased 60% from near historically low levels, reflecting ongoing normalization, particularly in *Retail Services*.

------

***PBWM* net income** of $114 million decreased 93%, driven by the higher cost of credit and the higher expenses, partially offset by the higher revenues.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Legacy Franchises<br>($ in millions, except as otherwise noted)** | **4Q'22** | **3Q'22** | **4Q'21** | ***QoQ%*** | ***YoY%*** | **2022** | **2021** | **%**△ |
| &nbsp;&nbsp;&nbsp;Asia Consumer | $772 | $1372 | $948 | *(44)%* | *(19)%* | 3811 | 3405 | *12%* |
| &nbsp;&nbsp;&nbsp;Mexico Consumer/SBMM<sup>(a)</sup> | 1255 | 1173 | 1168 | *7%* | *7%* | 4751 | 4651 | *2%* |
| &nbsp;&nbsp;&nbsp;Legacy Holdings Assets | 25 | 9 | 77 | *NM* | *(68)%* | (90) | 195 | *NM* |
| &nbsp;&nbsp;**Total Legacy revenues, net of interest expense** | **2052** | **2554** | **2193** | ***(20)%*** | ***(6)%*** | $**8472** | $**8251** | ***3%*** |
| &nbsp;&nbsp;**Total operating expenses** | **1830** | **1845** | **2971** | ***(1)%*** | ***(38)%*** | $**7782** | $**8259** | ***(6)%*** |
| &nbsp;&nbsp;&nbsp;Net credit losses | 168 | 164 | 216 | *2%* | *(22)%* | 616 | 1478 | *(58)%* |
| &nbsp;&nbsp;&nbsp;Net ACL build / (release)<sup>(b)</sup> | (58) | (25) | (127) | *NM* | *54%* | (136) | (1640) | *92%* |
| &nbsp;&nbsp;&nbsp;Other provisions<sup>(c)</sup> | 13 | 28 | 23 | *(54)%* | *(43)%* | 91 | 100 | *(9)%* |
| &nbsp;&nbsp;**Total cost of credit** | **123** | **167** | **112** | ***(26)%*** | ***10%*** | $**571** | $**(62)** | ***NM*** |
| &nbsp;&nbsp;**Net income (loss)** | $**72** | $**316** | $**(616)** | ***(77)%*** | ***NM*** | $**(12)** | $**1** | ***NM*** |
| &nbsp;&nbsp;**Key Indicators ($B)** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Asia Consumer EOP loans | 13 | 13 | 41 | *(1)%* | *(68)%* | - | - | *-* |
| &nbsp;&nbsp;Asia Consumer EOP deposits | 15 | 15 | 43 | *(1)%* | *(67)%* | - | - | *-* |
| &nbsp;&nbsp;Mexico Consumer/SBMM EOP loans<sup>(a)</sup> | 22 | 21 | 20 | *6%* | *9%* | - | - | *-* |
| &nbsp;&nbsp;Mexico Consumer/SBMM EOP deposits<sup>(a)</sup> | 37 | 36 | 33 | *2%* | *12%* | - | - | *-* |
| &nbsp;&nbsp;Legacy Holdings EOP loans | 3 | 3 | 4 | *(6)%* | *(23)%* | - | - | *-* |

---

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

(a) SBMM refers to Small Business & Middle Market Banking.

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

(c) Includes provisions for policyholder benefits and claims, HTM debt securities and other assets.

<u>Legacy Franchises</u>

***Legacy Franchises* revenues** of $2.1 billion decreased 6%, primarily driven by the reduction in revenues from the closing of five exit markets and the impact of the Korea consumer and Russia consumer wind-downs, partially offset by the Thailand consumer business gain on sale.

***Legacy Franchises* expenses** of $1.8 billion decreased 38%, driven by the absence of the $1.2 billion divestiture-related costs in the prior-year period and the benefits from exit markets.

***Legacy Franchises* cost of credit** was $123 million, compared to $112 million in the prior-year period, primarily driven by a larger net ACL release for loans and unfunded commitments in the prior-year period, partially offset by lower net credit losses in the current quarter.

***Legacy Franchises* net income** was $72 million, compared to a net loss of $616 million in the prior-year period, primarily reflecting the lower expenses, partially offset by the lower revenues.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Corporate / Other<br>($ in millions)** | **4Q'22** | **3Q'22** | **4Q'21** | ***QoQ%***  | ***YoY%*** | **2022** | **2021** | **%**△ |
| **Revenues, net of interest expense** | $**699** | $**299** | $**131** | ***NM*** | ***NM*** | $**1443** | $**470** | ***NM*** |
| **Total operating expenses** | **247** | **286** | **319** | ***(14)%*** | ***(23)%*** | $**953** | $**1375** | ***(31)%*** |
| **Total cost of credit**<sup>(a)</sup> | **-** | **3** | **-** | ***NM*** | ***-*** | $**3** | $**(2)** | ***NM*** |
| **Income (loss) from continuing operations** | **431** | **221** | **(144)** | ***95%*** | ***NM*** | $**1117** | $**(15)** | ***NM*** |
| **Adjusted Net Income (Loss)**<sup>(b)</sup> | **431** | **221** | **(144)** | ***95%*** | ***NM*** | $**23117** | $**(15)** | ***NM*** |
| **Net income (loss)** | $**431** | $**209** | $**(144)** | ***NM*** | ***NM*** | $**879** | $**(8)** | ***NM*** |

---

(a) Includes provisions for HTM debt securities and other assets.

<u>Corporate / Other</u>

***Corporate / Other* revenues** increased to $699 million from $131 million in the prior-year period, largely driven by higher net revenue from the investment portfolio, primarily due to higher interest rates.

------

***Corporate / Other* expenses** of $247 million decreased 23%, driven by lower consulting expenses.

***Corporate / Other* income from continuing operations** was $431 million, compared to a loss of $144 million in the prior-year period, reflecting the higher net revenue from the investment portfolio and the lower expenses.

------

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 www.citigroup.com/citi/investor. Dial-in numbers for the conference call are as follows: (800) 343-1703 (for U.S. and Canada callers) or (785) 424-1226 (for international callers).

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 Fourth Quarter 2022 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 nearly 160 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 \| Twitter: @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 release are "forward-looking statements" within the meaning of the rules and regulations of the Private Securities Litigation and 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: continued elevated levels of inflation and its impacts; elevated interest rates and the impacts on macroeconomic conditions, customer and client behavior, as well as Citi's funding costs; global supply shocks; potential recessions in Europe, the U.S. and other countries; significant disruptions and volatility in financial markets, including foreign currency volatility and devaluations; economic and geopolitical challenges related to China; the impacts related to or resulting from the Russia-Ukraine war, including Citi's ability to wind-down its activities in Russia; Citi's ability to execute against its transformation milestones and strategic initiatives, including consummation of Citi's exits and wind-downs, and the impacts related to any additional CTA or other losses and impacts; macroeconomic and other challenges and uncertainties related to the COVID-19 pandemic, including disruptions of global supply chains; and the precautionary statements included in this release. These factors also consist of those contained in Citigroup's filings with the U.S. Securities Exchange and Commission, including without limitation the "Risk Factors" section of Citigroup's 2021 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)** |  |
| **Net Income** | $**2513** |
| &nbsp;&nbsp;Less: Preferred Dividends | 238 |
| **Net Income to Common Shareholders** | $**2275** |
| &nbsp;&nbsp;Common Share Repurchases | - |
| &nbsp;&nbsp;Common Dividends | 1003 |
| **Total Capital Returned to Common Shareholders** | $**1003** |
| **Payout Ratio** | **44%** |
| **Average TCE** | $**156879** |
| **RoTCE** | **5.8%** |

---

**Appendix B**

---

| | | | |
|:---|:---|:---|:---|
| **Citigroup**<br>**($ in millions, except per share amounts)** | **4Q'22** | **4Q'21** | **YoY**  |
| **Total Citigroup Revenues - As Reported** | $**18006** | $**17017** | **6%** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture Impact on Revenue<sup>(5)</sup> | $209 | $(13) |  |
| **Total Citigroup Revenues, Excluding Divestiture Impacts** | $**17797** | $**17030** | **5%** |
| **Total Citigroup Operating Expenses - As Reported** | $**12985** | $**13532** | **(4)%** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture Impact on Operating Expenses<sup>(5)</sup> | $58 | $1171 |  |
| **Total Citigroup Operating Expenses, Excluding Divestiture Impacts** | $**12927** | $**12361** | **5%** |
| **Total Citigroup Cost of Credit - As Reported** | $**1845** | $**(465)** | **NM** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture Impact on Cost of Credit<sup>(5)</sup> | 41 | (1) |  |
| **Total Citigroup Cost of Credit, Excluding Divestiture Impacts** | $**1804** | $**(464)** | **NM** |
| **Total Citigroup Net Income - As Reported** | $**2513** | $**3173** | **(21)%** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture Impact on Revenue<sup>(5)</sup> | 209 | (13) |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture Impact on Operating Expenses<sup>(5)</sup> | (58) | (1171) |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture Impact on Cost of Credit<sup>(5)</sup> | 41 | (1) |  |
| &nbsp;&nbsp;&nbsp;Total Divestiture Impact on Taxes<sup>(5)</sup> | (79) | 123 |  |
| **Total Citigroup Net Income, Excluding Divestiture Impacts** | $**2400** | $**4235** | **(43)%** |
| **Citigroup Diluted EPS - As Reported** | $**1.16** | $**1.46** |  |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;Impact of Citigroup Diluted EPS<sup>(5)</sup> | $0.06 | $(0.53) |  |
| **Citigroup Diluted EPS, Excluding Divestiture Impacts** | $**1.10** | $**1.99** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **Global Wealth Management**<br>**($ in millions)** | **4Q'22** | **4Q'21** | **YoY**  |
| **PBWM - Global Wealth Management Revenues - As Reported** | $**1692** | $**1798** | **(6)%** |
| Less: |  |  |  |
| &nbsp;&nbsp;Asia Revenues<sup>(7)</sup> | $457 | $563 |  |
| **PBWM - Global Wealth Management Revenues - Excluding Asia Revenues** | $**1235** | $**1235** | **0%** |

---

------

**Appendix C**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;*($ in millions)* | **4Q'22**<sup>(1)</sup> | **3Q'22** | **4Q'21** |
| &nbsp;&nbsp;**Citigroup Common Stockholders' Equity**<sup>(2)</sup> | $**182325** | $**179696** | $**183108** |
| &nbsp;&nbsp;&nbsp;Add: Qualifying noncontrolling interests | 128 | 113 | 143 |
| &nbsp;&nbsp;**Regulatory Capital Adjustments and Deductions:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Add: CECL transition provision<sup>(3)</sup> | 2271 | 2271 | 3028 |
| &nbsp;&nbsp;&nbsp;Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated net unrealized gains (losses) on cash flow hedges, net of tax | (2522) | (2869) | 101 |
| &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 | 1441 | 3211 | (896) |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible Assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill, net of related deferred tax liabilities (DTLs)<sup>(4)</sup> | 19007 | 18796 | 20619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs | 3411 | 3492 | 3800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Defined benefit pension plan net assets; other | 1958 | 1932 | 2080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards<sup>(5)</sup> | 12197 | 11690 | 11270 |
| &nbsp;&nbsp;&nbsp;&nbsp;Excess over 10% / 15% limitations for other DTAs, certain common stock investments, and MSRs<sup>(5)(6)</sup> | 327 | 1261 | - |
| &nbsp;&nbsp;**Common Equity Tier 1 Capital (CET1)** | $**148905** | $**144567** | $**149305** |
| &nbsp;&nbsp;**Risk-Weighted Assets (RWA)**<sup>(3)</sup> | $**1142816** | $**1176749** | $**1219175** |
| &nbsp;&nbsp;**Common Equity Tier 1 Capital Ratio (CET1 / RWA)** | **13.0%** | **12.3%** | **12.2%** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) Preliminary.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Please refer to Footnote 2 at the end of this press release for additional information.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Includes goodwill "embedded" in the valuation of significant common stock investments in unconsolidated financial institutions.

&nbsp;&nbsp;&nbsp;&nbsp;(5) 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 from timing differences (future deductions) that are deducted from CET1 exceeding the 10% limitation.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Assets subject to 10%/15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. As of September 30, 2022 and December 31, 2022, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation

**Appendix D**

---

| | | | |
|:---|:---|:---|:---|
| *($ in millions)* | **4Q'22**<sup>(1)</sup> | **3Q'22** | **4Q'21** |
| **Common Equity Tier 1 Capital (CET1)**<sup>(2)</sup> | $**148905** | $**144567** | $**149305** |
| **Additional Tier 1 Capital (AT1)**<sup>(3)</sup> | **20238** | **20263** | **20263** |
| **Total Tier 1 Capital (T1C) (CET1 + AT1)** | $**169143** | $**164830** | $**169568** |
| **Total Leverage Exposure (TLE)**<sup>(2)</sup> | $**2914246** | $**2888535** | $**2957764** |
| **Supplementary Leverage Ratio (T1C / TLE)** | **5.8%** | **5.7%** | **5.7%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Preliminary.

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.

------

**Appendix E**

---

| | | | |
|:---|:---|:---|:---|
| *($ and shares in millions, except per share amounts)* | **4Q'22**<sup>(1)</sup> | **3Q'22** | **4Q'21** |
| **Common Stockholders' Equity** | $**182194** | $**179565** | $**182977** |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 19691 | 19326 | 21299 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible Assets (other than MSRs) | 3763 | 3838 | 4091 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill and Identifiable Intangible Assets (other than MSRs) Related to Assets Held-for-Sale | 589 | 794 | 510 |
| **Tangible Common Equity (TCE)** | $**158151** | $**155607** | $**157077** |
| **Common Shares Outstanding (CSO)** | **1937** | **1937** | **1984** |
| **Tangible Book Value Per Share** | $**81.65** | $**80.34** | $**79.16** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Preliminary.

------

<sup>(1)</sup> Preliminary. Citigroup's return on average tangible common equity (RoTCE) is a non-GAAP financial measure. RoTCE represents annualized net income available to common shareholders as a percentage of average tangible common equity (TCE). For the components of the calculation, see Appendix A.

<sup>(2)</sup> Ratios as of December 31, 2022 are preliminary. Citigroup's Common Equity Tier 1 (CET1) Capital ratio and Supplementary Leverage ratio (SLR) reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses (CECL) standard. Excluding these deferrals, Citigroup's CET1 Capital ratio and SLR as of December 31, 2022 would be 12.8% and 5.7%, respectively, on a fully reflected basis. For additional information, see "Capital Resources—Regulatory Capital Treatment—Modified Transition of the current expected" in Citigroup's Annual Report on Form 10-K for the year ended December 31, 2021, and Citigroup's Current Report on Form 8-K dated May 10, 2022 (as amended by Current Report on Form 8-K/A dated May 10, 2022).

For the composition of Citigroup's CET1 Capital and ratio, see Appendix C. For the composition of Citigroup's SLR, see Appendix D.

<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. For the components of the calculation, see Appendix A.

<sup>(4)</sup> Citigroup's tangible book value per share is a non-GAAP financial measure. For a reconciliation of this measure to reported results, see Appendix E.

<sup>(5)</sup> Fourth quarter 2022 results included divestiture-related impacts of $192 million in earnings before taxes (approximately $113 million after-tax), primarily recorded in Legacy Franchises. This amount included $209 million primarily related to the gain on sale from certain divestitures, recorded in Other revenue, $58 million of aggregate divestiture-related costs, recorded in Operating expenses, a $41 million benefit of divestiture-related credit costs, and related taxes of $79 million.

Fourth quarter 2021 results included divestiture-related impacts of $(1.2) billion in earnings before taxes (approximately $1.1 billion after tax), recorded in Legacy Franchises. This amount included $1.2 billion recorded in Operating expenses related to the Korea voluntary early retirement program (VERP) as well as contract modification costs related to the divestitures of approximately $119 million. In addition, this amount included a pre-tax true-up loss of approximately $13 million related to the sale of the Australia consumer business recorded in Other revenue, a $(1) million benefit of divestiture-related credit costs, and a tax benefit of $123 million. For additional information about the Korea VERP, see Citigroup's Current Report on Form 8-K filed with the SEC on October 25, 2021 and Citigroup's Current Report on Form 8-K/A filed with the SEC on November 8, 2021.

Results of operations excluding these divestiture-related impacts are non-GAAP financial measure. For a reconciliation to reported results, please refer to Appendix B.

<sup>(6)</sup> Credit derivatives are used to economically hedge a portion of the Corporate Loan portfolio that includes both accrual loans and loans at fair value. Gains / (losses) 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. In the fourth quarter 2022, gains / (losses) on loan hedges included $(300) million related to Corporate Lending, compared to $21 million in the prior-year period. 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 gains / (losses) on loan hedges are non-GAAP financial measures.

<sup>(7)</sup> *Global Wealth Management* revenues in Asia were $457 million for the fourth quarter 2022 and $563 million for the fourth quarter 2021. Results of operations for *Global Wealth Management* excluding revenues in Asia are non-GAAP financial measures. For a reconciliation to reported results, please refer to Appendix B.

------

## Exhibit 99.2

**Exhibit 99.2**

![citi-r_2c-blu_pos_rgb](c-20221014xex99d2001.jpg)

---

| | |
|:---|:---|
| **CITIGROUP -- QUARTERLY FINANCIAL DATA SUPPLEMENT** | **4Q22** |
|  | **Page** |
| &nbsp;&nbsp;**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 Segment and Reporting Unit - Net Revenues and Income** | **4** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Institutional Clients Group (ICG)** | **5** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reporting Unit Revenues | **6** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Personal Banking and Wealth Management (PBWM)** | **7** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metrics | **8** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Legacy Franchises** | **9** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Corporate / Other** | **10** |
| &nbsp;&nbsp;**Citigroup Supplemental Detail** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Balances and Interest Rates | **11** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOP Loans | **12** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | **13** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for Credit Losses (ACL) Rollforward | **14** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for Credit Losses on Loans and Unfunded Lending Commitments | **15 - 16** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Accrual Assets | **17** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CET1 Capital and Supplementary Leverage Ratios, Tangible Common Equity, | **18** |
| &nbsp;&nbsp;&nbsp;&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)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** | <br>**Full**<br>**Year**<br>**2021** | <br>**Full**<br>**Year**<br>**2022** | **FY 2022 vs.**<br>**FY 2021**<br>**Increase/**<br>**(Decrease)** |
| **Total revenues, net of interest expense**<sup>(1)(2)(3)</sup> | $**17017** | $**19186** | $**19638** | $**18508** | $**18006** | **(3%)** | **6%** | $**71884** | $**75338** | **5%** |
| Total operating expenses<sup>(1)(4)</sup> | 13532 | 13165 | 12393 | 12749 | 12985 | 2% | (4%) | 48193 | 51292 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses (NCLs) | 866 | 872 | 850 | 887 | 1180 | 33% | 36% | 4895 | 3789 | (23%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build / (release) for loans | (1176) | (612) | 534 | 441 | 593 | 34% | NM | (7998) | 956 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision / (release) for unfunded lending commitments | (193) | 474 | (159) | (71) | 47 | NM | NM | (788) | 291 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions for benefits and claims, HTM debt securities and other assets | 38 | 21 | 49 | 108 | 25 | (77%) | (34%) | 113 | 203 | 80% |
| Provisions for credit losses and for benefits and claims | (465) | 755 | 1274 | 1365 | 1845 | 35% | NM | (3778) | 5239 | NM |
| Income from continuing operations before income taxes | 3950 | 5266 | 5971 | 4394 | 3176 | (28%) | (20%) | 27469 | 18807 | (32%) |
| Income taxes<sup>(5)</sup> | 771 | 941 | 1182 | 879 | 640 | (27%) | (17%) | 5451 | 3642 | (33%) |
| **Income from continuing operations** | **3179** | **4325** | **4789** | **3515** | **2536** | **(28%)** | **(20%)** | **22018** | **15165** | **(31%)** |
| Income (loss) from discontinued operations, net of taxes<sup>(6)</sup> | - | (2) | (221) | (6) | (2) | 67% | NM | 7 | (231) | NM |
| Net income before noncontrolling interests | 3179 | 4323 | 4568 | 3509 | 2534 | (28%) | (20%) | 22025 | 14934 | (32%) |
| Net income (loss) attributable to noncontrolling interests | 6 | 17 | 21 | 30 | 21 | (30%) | NM | 73 | 89 | 22% |
| **Citigroup's net income** | $**3173** | $**4306** | $**4547** | $**3479** | $**2513** | **(28%)** | **(21%)** | $**21952** | $**14845** | **(32%)** |
| **Diluted earnings per share:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | $1.46 | $2.02 | $2.30 | $1.63 | $1.16 | (29%) | (21%) | $10.14 | $7.11 | (30%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup's net income | $1.46 | $2.02 | $2.19 | $1.63 | $1.16 | (29%) | (21%) | $10.14 | $7.00 | (31%) |
| Preferred dividends | $229 | $279 | $238 | $277 | $238 | (14%) | 4% | $1040 | $1032 | (1%) |
| **Income allocated to unrestricted common shareholders - basic** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | $2924 | $4004 | $4495 | $3180 | $2253 | (29%) | (23%) | $20751 | $13930 | (33%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup's net income | $2924 | $4002 | 4274 | $3174 | $2251 | (29%) | (23%) | $20758 | $13700 | (34%) |
| **Income allocated to unrestricted common shareholders - diluted** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | $2932 | $4012 | $4506 | $3191 | $2264 | (29%) | (23%) | $20781 | $13971 | (33%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup's net income | $2932 | $4010 | $4285 | $3185 | $2262 | (29%) | (23%) | $20788 | $13741 | (34%) |
| **Shares** <u>(in millions):</u> |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average basic | 1984.3 | 1971.7 | 1941.5 | 1936.8 | 1936.9 | - | (2%) | 2033.0 | 1946.7 | (4%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Average diluted | 2001.6 | 1988.2 | 1958.1 | 1955.1 | 1955.9 | - | (2%) | 2049.4 | 1964.3 | (4%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Common shares outstanding, at period end | 1984.4 | 1941.9 | 1936.7 | 1936.9 | 1937.0 | - | (2%) |  |  |  |
| **Regulatory capital ratios and performance metrics:** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Equity Tier 1 (CET1) Capital ratio<sup>(7)(8)(9)</sup> | 12.25% | 11.38% | 11.90% | 12.29% | 13.0% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 Capital ratio<sup>(7)(8)(9)</sup> | 13.91% | 12.98% | 13.57% | 14.01% | 14.8% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Capital ratio<sup>(7)(8)(9)</sup> | 16.04% | 14.84% | 15.16% | 15.09% | 15.4% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Supplementary Leverage ratio (SLR)<sup>(7)(9)(10)</sup> | 5.73% | 5.58% | 5.63% | 5.71% | 5.8% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average assets | 0.53% | 0.74% | 0.77% | 0.58% | 0.41% |  |  | 0.94% | 0.62% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average common equity | 6.4% | 9.0% | 9.7% | 7.1% | 5.0% |  |  | 11.5% | 7.7% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average tangible common equity (TCE) (in billions of dollars) | $157.0 | $155.3 | $154.4 | $155.5 | $156.9 | 1% | - | $156.3 | $155.9 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average tangible common equity (RoTCE) | 7.4% | 10.5% | 11.2% | 8.2% | 5.8% |  |  | 13.4% | 8.9% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio (total operating expenses/total revenues, net) | 79.5% | 68.6% | 63.1% | 68.9% | 72.1% | 320 bps | (740) bps | 67.0% | 68.1% | 110 bps |
| **Balance sheet data** <u>(in billions of dollars, except per share amounts):</u> |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $2291.4 | $2394.1 | $2380.9 | $2381.1 | $2416.7 | 1% | 5% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total average assets | 2386.2 | 2374.0 | 2380.1 | 2399.4 | 2430.6 | 1% | 2% | 2347.7 | 2396.0 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | 667.8 | 659.7 | 657.3 | 646.0 | 657.2 | 2% | (2%) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1317.2 | 1333.7 | 1321.8 | 1306.5 | 1366.0 | 5% | 4% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Citigroup's stockholders' equity | 202.0 | 197.7 | 199.0 | 198.6 | 201.2 | 1% | - |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Book value per share | 92.21 | 92.03 | 92.95 | 92.71 | 94.06 | 1% | 2% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible book value per share | 79.16 | 79.03 | 80.25 | 80.34 | 81.65 | 2% | 3% |  |  |  |
| **Direct staff** (in thousands) | 223 | 228 | 231 | 238 | 240 | 1% | 8% |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) During the fourth quarter of 2021, Citi reclassified deposit insurance expenses from Interest expense to Other operating expenses for all periods presented. For additional information, see Note 1 to the Consolidated Financial Statements in Citi's 2021 Annual Report on Form 10-K.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Full year 2021 includes an approximate $680 million loss on sale (an approximate $580 million after-tax), related to Citi's agreement to sell its Australia consumer banking business.

&nbsp;&nbsp;&nbsp;&nbsp;(3) 3Q22 includes an approximate $616 million gain on sale recorded in Other revenue (approximately $290 million after various taxes) related to Citi's sale of the Philippines consumer banking business.

&nbsp;&nbsp;&nbsp;&nbsp;(4) 4Q21 includes approximately $1.052 billion in expenses (approximately $792 million after-tax), primarily related to charges incurred from the voluntary early retirement plan (VERP) in connection with the wind-down of Citi's consumer banking business in Korea.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Full year 2021 includes an approximate $600 million benefit from a reduction in Citi's valuation allowance related to its Deferred Tax Assets (DTAs).

&nbsp;&nbsp;&nbsp;&nbsp;(6) 2Q22 discontinued operations reflects the release of a currency translation adjustment (CTA) loss (net of hedges) recorded in Accumulated Other Comprehensive Income (AOCI) related to the substantial liquidation of a legal entity (with a non-U.S. dollar functional currency), that had previously divested a legacy business.

&nbsp;&nbsp;&nbsp;&nbsp;(7) 4Q22 is preliminary.

&nbsp;&nbsp;&nbsp;&nbsp;(8) 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 18.

&nbsp;&nbsp;&nbsp;&nbsp;(9) Citi's regulatory capital ratios reflect certain deferrals based on the modified regulatory capital transition provision related to the Current Expected Credit Losses (CECL) standard. For additional information, see "Capital Resources-Regulatory Capital Treatment-Modified Transition of the CECL Methodology" in Citigroup's Annual Report on Form 10-K for the year ended December 31, 2021, and Citigroup's Current Report on Form 8-K dated May 10, 2022 (as amended by a Current Report on Form 8-K/A dated May 10, 2022).

&nbsp;&nbsp;&nbsp;&nbsp;(10) For the composition of Citi's SLR, see page 18.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**CITIGROUP CONSOLIDATED STATEMENT OF INCOME**

(In millions of dollars)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/<br>(Decrease) from** | **4Q22 Increase/<br>(Decrease) from** | | | |
|  | **4Q**<br>**2021** | **1Q**<br>**2022** | **2Q**<br>**2022** | **3Q**<br>**2022** | **4Q**<br>**2022** | **3Q22** | **4Q21** | **Full<br>Year**<br>**2021** | **Full<br>Year**<br>**2022** | **FY 2022 vs.<br>FY 2021 Increase/**<br>**(Decrease)** |
| **Revenues** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest revenue | $12828 | $13151 | $15630 | $19919 | $25708 | 29% | 100% | $50475 | $74408 | 47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense<sup>(1)</sup> | 2009 | 2280 | 3666 | 7356 | 12438 | 69% | NM | 7981 | 25740 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income (NII) | 10819 | 10871 | 11964 | 12563 | 13270 | 6% | 23% | 42494 | 48668 | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commissions and fees | 3229 | 2568 | 2452 | 2139 | 2016 | (6%) | (38%) | 13672 | 9175 | (33%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal transactions | 1704 | 4590 | 4525 | 2625 | 2419 | (8%) | 42% | 10154 | 14159 | 39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administrative and other fiduciary fees | 953 | 966 | 1023 | 915 | 880 | (4%) | (8%) | 3943 | 3784 | (4%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realized gains (losses) on investments | 10 | 80 | (58) | 52 | (7) | NM | NM | 665 | 67 | (90%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment losses on investments and other assets | (94) | (90) | (96) | (91) | (222) | NM | NM | (206) | (499) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on AFS debt securities<sup>(2)</sup> | (2) | - | 2 | 5 | (2) | NM | - | (3) | 5 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other revenue (loss) | 398 | 201 | (174) | 300 | (348) | NM | NM | 1165 | (21) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total non-interest revenues (NIR) | 6198 | 8315 | 7674 | 5945 | 4736 | (20%) | (24%) | 29390 | 26670 | (9%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues, net of interest expense** | **17017** | **19186** | **19638** | **18508** | **18006** | **(3%)** | **6%** | **71884** | **75338** | 5% |
| **Provisions for credit losses and for benefits and claims** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net credit losses | 866 | 872 | 850 | 887 | 1180 | 33% | 36% | 4895 | 3789 | (23%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build / (release) for loans | (1176) | (612) | 534 | 441 | 593 | 34% | NM | (7998) | 956 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on loans | (310) | 260 | 1384 | 1328 | 1773 | 34% | NM | (3103) | 4745 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on held-to-maturity (HTM) debt securities | 14 | (2) | 20 | 10 | 5 | (50%) | (64%) | (3) | 33 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on other assets | (3) | (4) | 7 | 73 | - | (100%) | 100% | - | 76 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policyholder benefits and claims | 27 | 27 | 22 | 25 | 20 | (20%) | (26%) | 116 | 94 | (19%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on unfunded lending commitments | (193) | 474 | (159) | (71) | 47 | NM | NM | (788) | 291 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total provisions for credit losses and for benefits and claims**<sup>(3)</sup> | **(465)** | **755** | **1274** | **1365** | **1845** | **35%** | **NM** | **(3778)** | **5239** | **NM** |
| **Operating expenses** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation and benefits | 7093 | 6820 | 6472 | 6745 | 6618 | (2%) | (7%) | 25134 | 26655 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 620 | 543 | 619 | 557 | 601 | 8% | (3%) | 2314 | 2320 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology / communication | 2084 | 2016 | 2068 | 2145 | 2358 | 10% | 13% | 7828 | 8587 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising and marketing | 478 | 311 | 414 | 407 | 424 | 4% | (11%) | 1490 | 1556 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating<sup>(1)</sup> | 3257 | 3475 | 2820 | 2895 | 2984 | 3% | (8%) | 11427 | 12174 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total operating expenses** | **13532** | **13165** | **12393** | **12749** | **12985** | **2%** | **(4%)** | **48193** | **51292** | **6%** |
| **Income from continuing operations before income taxes** | 3950 | 5266 | 5971 | 4394 | 3176 | (28%) | (20%) | 27469 | 18807 | (32%) |
| Provision for income taxes <sup>(4)</sup> | 771 | 941 | 1182 | 879 | 640 | (27%) | (17%) | 5451 | 3642 | (33%) |
| **Income (loss) from continuing operations** | **3179** | **4325** | **4789** | **3515** | **2536** | **(28%)** | **(20%)** | **22018** | **15165** | (31%) |
| **Discontinued operations**<sup>(5)</sup> |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from discontinued operations | - | (2) | (262) | (6) | (2) | 67% | NM | 7 | (272) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes | - | - | (41) | - | - | - | - | - | (41) | NM |
| **Income (loss) from discontinued operations, net of taxes** | - | (2) | (221) | (6) | (2) | 67% | NM | 7 | (231) | NM |
| Net income before noncontrolling interests | 3179 | 4323 | 4568 | 3509 | 2534 | (28%) | (20%) | 22025 | 14934 | (32%) |
| Net income (loss) attributable to noncontrolling interests | 6 | 17 | 21 | 30 | 21 | (30%) | NM | 73 | 89 | 22% |
| **Citigroup's net income** | $**3173** | $**4306** | $**4547** | $**3479** | $**2513** | **(28%)** | **(21%)** | $**21952** | $**14845** | (32%) |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) This presentation is in accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue.

&nbsp;&nbsp;&nbsp;&nbsp;(3) This total excludes the provision for credit losses on AFS securities, which is disclosed separately above.

&nbsp;&nbsp;&nbsp;&nbsp;(4) See footnote 5 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(5) See footnote 6 on page 1.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**CITIGROUP CONSOLIDATED BALANCE SHEET**

(In millions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  | <br>**December 31,**<br>**2021** | <br>**March 31,**<br>**2022** | <br>**June 30,**<br>**2022** | <br>**September 30,**<br>**2022** | <br>**December 31,**<br>**2022**<sup>(1)</sup> | **3Q22** | **4Q21** |
| **Assets** |  |  |  |  |  |  |  |
| Cash and due from banks (including segregated cash and other deposits) | $27515 | $27768 | $24902 | $26502 | $30577 | 15% | 11% |
| Deposits with banks, net of allowance | 234518 | 244319 | 259128 | 273105 | 311448 | 14% | 33% |
| Securities borrowed and purchased under agreements to resell, net of allowance | 327288 | 345410 | 361334 | 349214 | 365401 | 5% | 12% |
| Brokerage receivables, net of allowance | 54340 | 89218 | 80486 | 79696 | 54192 | (32%) | - |
| Trading account assets  | 331945 | 357997 | 340875 | 358260 | 334114 | (7%) | 1% |
| Investments  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Available-for-sale debt securities, net of allowance | 288522 | 264774 | 238499 | 232143 | 249679 | 8% | (13%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Held-to-maturity debt securities, net of allowance | 216963 | 242547 | 267592 | 267864 | 268863 | - | 24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity securities | 7337 | 7281 | 7787 | 8009 | 8040 | - | 10% |
| Total investments  | 512822 | 514602 | 513878 | 508016 | 526582 | 4% | 3% |
| Loans, net of unearned income |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer<sup>(2)</sup> | 376534 | 350328 | 355605 | 357583 | 368067 | 3% | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate<sup>(3)</sup> | 291233 | 309341 | 301728 | 288377 | 289154 | - | (1%) |
| Loans, net of unearned income | 667767 | 659669 | 657333 | 645960 | 657221 | 2% | (2%) |
| Allowance for credit losses on loans (ACLL)  | (16455) | (15393) | (15952) | (16309) | (16974) | (4%) | (3%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans, net | 651312 | 644276 | 641381 | 629651 | 640247 | 2% | (2%) |
| Goodwill | 21299 | 19865 | 19597 | 19326 | 19691 | 2% | (8%) |
| Intangible assets (including MSRs) | 4495 | 4522 | 4526 | 4485 | 4428 | (1%) | (1%) |
| Other assets, net of allowance | 125879 | 146128 | 134797 | 132809 | 129996 | (2%) | 3% |
| **Total assets** | $**2291413** | $**2394105** | $**2380904** | $**2381064** | $**2416676** | 1% | **5%** |
| **Liabilities** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing deposits in U.S. offices | $158552 | $153666 | $147214 | $135514 | $122655 | (9%) | (23%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in U.S. offices | 543283 | 557327 | 565785 | 570920 | 607470 | 6% | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total U.S. deposits | 701835 | 710993 | 712999 | 706434 | 730125 | 3% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing deposits in offices outside the U.S. | 97270 | 98579 | 100266 | 98904 | 95182 | (4%) | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in offices outside the U.S. | 518125 | 524139 | 508583 | 501148 | 540647 | 8% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total international deposits | 615395 | 622718 | 608849 | 600052 | 635829 | 6% | 3% |
| Total deposits | 1317230 | 1333711 | 1321848 | 1306486 | 1365954 | 5% | 4% |
| Securities loaned and sold under agreements to resell | 191285 | 204494 | 198472 | 203429 | 202444 | - | 6% |
| Brokerage payables | 61430 | 91324 | 96474 | 87841 | 69218 | (21%) | 13% |
| Trading account liabilities | 161529 | 188059 | 180453 | 196479 | 170647 | (13%) | 6% |
| Short-term borrowings | 27973 | 30144 | 40054 | 47368 | 47096 | (1%) | 68% |
| Long-term debt | 254374 | 253954 | 257425 | 253068 | 271606 | 7% | 7% |
| Other liabilities<sup>(4)</sup> | 74920 | 94066 | 86552 | 87276 | 87873 | 1% | 17% |
| **Total liabilities** | $**2088741** | $**2195752** | $**2181278** | $**2181947** | $**2214838** | 2% | **6%** |
| **Equity** |  |  |  |  |  |  |  |
| **Stockholders' equity** |  |  |  |  |  |  |  |
| Preferred stock | $18995 | $18995 | $18995 | $18995 | $18995 | - | - |
| Common stock  | 31 | 31 | 31 | 31 | 31 | - | - |
| Additional paid-in capital | 108003 | 108050 | 108210 | 108347 | 108458 | - | - |
| Retained earnings | 184948 | 187962 | 191261 | 193462 | 194734 | 1% | 5% |
| Treasury stock, at cost | (71240) | (73744) | (73988) | (73977) | (73967) | - | (4%) |
| Accumulated other comprehensive income (loss) (AOCI)<sup>(5)</sup> | (38765) | (43585) | (45495) | (48298) | (47062) | 3% | (21%) |
| **Total common equity** | $**182977** | $**178714** | $**180019** | $**179565** | $**182194** | 1% | - |
| **Total Citigroup stockholders' equity** | $**201972** | $**197709** | $**199014** | $**198560** | $**201189** | 1% | - |
| Noncontrolling interests | 700 | 644 | 612 | 557 | 649 | 17% | (7%) |
| **Total equity** | **202672** | **198353** | **199626** | **199117** | **201838** | 1% | - |
| **Total liabilities and equity** | $**2291413** | $**2394105** | $**2380904** | $**2381064** | $**2416676** | 1% | **5%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Preliminary.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Consumer loans include loans managed by PBWM and Legacy Franchises (other than Mexico Small Business & Middle-Market Banking (Mexico SBMM) loans).

&nbsp;&nbsp;&nbsp;&nbsp;(3) Corporate loans include loans managed by ICG and Legacy Franchises-Mexico SBMM.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Includes allowance for credit losses for unfunded lending commitments. See page 15.

&nbsp;&nbsp;&nbsp;&nbsp;(5) As discussed in footnote 2 on page 1, Citi's third quarter of 2021 results include an approximate $680 million loss on sale (an approximate $580 million after-tax), related to Citi's agreement to sell its Australia consumer banking business. The loss primarily reflects the impact of an approximate $625 million ($475 million (after-tax)) currency translation adjustment (CTA) loss (net of hedges) at September 30, 2021, December 31, 2021 and March 31, 2022, already reflected in the Accumulated Other Comprehensive Income (AOCI) component of equity. The sale closed during the second quarter of 2022, and the CTA balance was removed from the AOCI component of equity as of the end of the second quarter of 2022, resulting in a neutral impact from CTA to Citi's Common Equity Tier 1 Capital.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**OPERATING SEGMENT AND REPORTING UNIT DETAILS** 

(In millions of dollars)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** | **Full**<br>**Year**<br>**2021** | **Full**<br>**Year**<br>**2022** | **FY 2022 vs.**<br>**FY 2021 Increase/**<br>**(Decrease)** |
| **Net revenues** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Institutional Clients Group | $8908 | $11160 | $11419 | $9468 | $9159 | (3%) | 3% | $39836 | $41206 | 3% |
| &nbsp;&nbsp;&nbsp;Personal Banking and Wealth Management | 5785 | 5905 | 6029 | 6187 | 6096 | (1%) | 5% | 23327 | 24217 | 4% |
| &nbsp;&nbsp;&nbsp;Legacy Franchises | 2193 | 1931 | 1935 | 2554 | 2052 | (20%) | (6%) | 8251 | 8472 | 3% |
| &nbsp;&nbsp;&nbsp;Corporate/Other | 131 | 190 | 255 | 299 | 699 | NM | NM | 470 | 1443 | NM |
| **Total net revenues** | $**17017** | $**19186** | $**19638** | $**18508** | $**18006** | **(3%)** | **6%** | $**71884** | $**75338** | **5%** |
| **Income (loss) from continuing operations** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Institutional Clients Group | $2330 | $2658 | $3978 | $2186 | $1916 | (12%) | (18%) | $14308 | $10738 | (25%) |
| &nbsp;&nbsp;&nbsp;Personal Banking and Wealth Management | 1613 | 1860 | 553 | 792 | 114 | (86%) | (93%) | 7734 | 3319 | (57%) |
| &nbsp;&nbsp;&nbsp;Legacy Franchises | (620) | (385) | (15) | 316 | 75 | (76%) | NM | (9) | (9) | - |
| &nbsp;&nbsp;&nbsp;Corporate/Other | (144) | 192 | 273 | 221 | 431 | 95% | NM | (15) | 1117 | NM |
| **Income from continuing operations** | $**3179** | $**4325** | $**4789** | $**3515** | $**2536** | **(28%)** | **(20%)** | $**22018** | $**15165** | **(31%)** |
| **Discontinued operations** | - | (2) | (221) | (6) | (2) | 67% | NM | 7 | (231) | NM |
| **Net income attributable to noncontrolling interests** | 6 | 17 | 21 | 30 | 21 | (30%) | NM | 73 | 89 | 22% |
| **Net income** | $**3173** | $**4306** | $**4547** | $**3479** | $**2513** | **(28%)** | **(21%)** | $**21952** | $**14845** | **(32%)** |

---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**INSTITUTIONAL CLIENTS GROUP**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** | **Full**<br>**Year**<br>**2021** | **Full**<br>**Year**<br>**2022** | **FY 2022 vs.**<br>**FY 2021 Increase/**<br>**(Decrease)** |
| Commissions and fees  | $1064 | $1130 | $1125 | $1082 | $1067 | (1%) | - | 4300 | 4404 | 2% |
| Administration and other fiduciary fees | 662 | 672 | 732 | 651 | 629 | (3%) | (5%) | 2693 | 2684 | - |
| Investment banking fees<sup>(1)</sup> | 1669 | 1039 | 990 | 816 | 728 | (11%) | (56%) | 6709 | 3573 | (47%) |
| Principal transactions | 1654 | 4442 | 4358 | 2776 | 2057 | (26%) | 24% | 9763 | 13633 | 40% |
| Other | 91 | 93 | (306) | (427) | (359) | 16% | NM | 1372 | (999) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-interest revenue | 5140 | 7376 | 6899 | 4898 | 4122 | (16%) | (20%) | 24837 | 23295 | (6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income (including dividends) | 3768 | 3784 | 4520 | 4570 | 5037 | 10% | 34% | 14999 | 17911 | 19% |
| **Total revenues, net of interest expense** | **8908** | **11160** | **11419** | **9468** | **9159** | **(3%)** | **3%** | **39836** | **41206** | **3%** |
| Total operating expenses | 6225 | 6723 | 6434 | 6541 | 6601 | 1% | 6% | 23949 | 26299 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net credit losses on loans | 82 | 30 | 18 | - | 104 | NM | 27% | 356 | 152 | (57%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build / (release) for loans | (192) | 596 | (76) | 75 | (117) | NM | 39% | (2093) | 478 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on unfunded lending commitments | (181) | 352 | (169) | (59) | 63 | NM | NM | (753) | 187 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provisions for credit losses for HTM debt securities and other assets | 10 | (7) | 25 | 70 | 6 | (91%) | (40%) | -  | 94 | NM |
| Provision for credit losses | (281) | 971 | (202) | 86 | 56 | (35%) | NM | (2490) | 911  | NM |
| Income from continuing operations before taxes | 2964 | 3466 | 5187 | 2841 | 2502 | (12%) | (16%) | 18377 | 13996 | (24%) |
| Income taxes | 634 | 808 | 1209 | 655 | 586 | (11%) | (8%) | 4069 | 3258 | (20%) |
| **Income from continuing operations** | **2330** | **2658** | **3978** | **2186** | **1916** | **(12%)** | **(18%)** | **14308** | **10738** | **(25%)** |
| Noncontrolling interests | 10 | 18 | 17 | 24 | 20 | (17%) | 100% | 83 | 79 | (5%) |
| **Net income** | $**2320** | $**2640** | $**3961** | $**2162** | $**1896** | **(12%)** | **(18%)** | $**14225** | $**10659** | **(25%)** |
| EOP assets (in billions) | $1613 | $1704 | $1700 | $1706 | $1730 | 1% | 7% |  |  |  |
| Average assets (in billions) | 1698 | 1685 | 1698 | 1729 | 1753 | 1% | 3% | 1669 | 1716 | 3% |
| Efficiency ratio | 70% | 60% | 56% | 69% | 72% | 300 bps | 200 bps | 60% | 64% | 400 bps |
| **Revenue by reporting unit** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Services | $3270 | $3465 | $4050 | $4177 | $4330 | 4% | 32% | $12582 | $16022 | 27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markets | 3332 | 5809 | 5292 | 4068 | 3944 | (3%) | 18% | 17876 | 19113 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banking | 2306 | 1886 | 2077 | 1223 | 885 | (28%) | (62%) | 9378 | 6071 | (35%) |
| **Total revenues, net of interest expense** | $8908 | $11160 | $11419 | $9468 | $9159 | (3%) | 3% | $39836 | $41206 | 3% |
| **Revenue by region** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North America | $3278 | $3722 | $4410 | $3091 | $2444 | (21%) | (25%) | $14759 | $13667 | (7%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMEA | 2705 | 4030 | 3566 | 3099 | 3293 | 6% | 22% | 12415 | 13988 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Latin America | 1113 | 1141 | 1266 | 1202 | 1320 | 10% | 19% | 4277 | 4929 | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asia | 1812 | 2267 | 2177 | 2076 | 2102 | 1% | 16% | 8385 | 8622 | 3% |
| **Total revenues, net of interest expense** | $8908 | $11160 | $11419 | $9468 | $9159 | (3%) | 3% | $39836 | $41206 | 3% |
| **Income (loss) from continuing operations by region**  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North America | $768 | $589 | $1501 | $97 | $(90) | NM | NM | $5089 | $2097 | (59%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMEA | 672 | 928 | 1172 | 1003 | 857 | (15%) | 28% | 4203 | 3960 | (6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Latin America | 473 | 359 | 544 | 426 | 508 | 19% | 7% | 2060 | 1837 | (11%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asia | 417 | 782 | 761 | 660 | 641 | (3%) | 54% | 2956 | 2844 | (4%) |
| **Income (loss) from continuing operations** | $2330 | $2658 | $3978 | $2186 | $1916 | (12%) | (18%) | $14308 | $10738 | (25%) |
| **Average loans by reporting unit** (in billions) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Services | $77 | $81 | $85 | $82 | $79 | (4%) | 3% | $75 | $82 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banking | 195 | 194 | 199 | 197 | 194 | (2%) | (1%) | 196 | 196 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markets | 17 | 14 | 13 | 12 | 12 | - | (29%) | 16 | 13 | (19%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $289 | $289 | $297 | $291 | $285 | (2%) | (1%) | $287 | $291 | 1% |
| **Average deposits by reporting unit and selected component** (in billions) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury and trade solutions (TTS)  | $689 | $670 | $672 | $664 | $694 | 5% | 1% | $670 | $675 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities services | 140 | 135 | 137 | 131 | 129 | (2%) | (8%) | 135 | 133 | (1%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Services | 829 | 805 | 809 | 795 | 823 | 4% | (1%) | 805 | 808 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markets & Banking | 23 | 21 | 21 | 22 | 23 | 14% | 9% | 23 | 22 | (4%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $852 | $826 | $830 | $817 | $848 | 4% | - | $828 | $830 | - |
| **Services Key Drivers** (in billions of dollars, except as otherwise noted) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AUC/AUA (in trillions of dollars)  | $23.7 | $23.0 | $21.2 | $20.9 | $22.2 | 6% | (6%) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cross border transaction value | $78.2 | $75.6 | $79.3 | $75.6 | $81.1 | 7% | 4% | $279.5 | $311.6 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S.-dollar clearing volume (in millions) | 37.8 | 36.1 | 36.7 | 37.6 | 38.2 | 2% | 1% | 146.2 | 148.6 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial card spend volume | $11.4 | $11.4 | $15.0 | $15.6 | $15.4 | (1%) | 35% | $38.6 | $57.4 | 49% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Investment banking fees are substantially composed of underwriting and advisory revenues.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**INSTITUTIONAL CLIENTS GROUP**

**REPORTING UNIT REVENUES**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | **4Q22 Increase/** | **4Q22 Increase/** | **Full** | **Full** | **FY 2022 vs.** |
|  | **4Q** | **1Q** | **2Q** | **3Q** | **4Q** | **(Decrease) from** | **(Decrease) from** | **Year** | **Year** | **FY 2021 Increase/** |
| **Services** | **2021** | **2022** | **2022** | **2022** | **2022** | **3Q22** | **4Q21** | **2021** | **2022** | **(Decrease)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $1694 | $1924 | $2354 | $2619 | $2825 | 8% | 67% | $6595 | $9722 | 47% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 1576 | 1541 | 1696 | 1558 | 1505 | (3%) | (5%) | 5987 | 6300 | 5% |
| **Total Services revenues** | $**3270** | $**3465** | $**4050** | $**4177** | $**4330** | **4%** | **32%** | $**12582** | $**16022** | **27%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $1455 | $1676 | $2054 | $2232 | $2344 | 5% | 61% | $5706 | $8306 | 46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 960 | 931 | 1003 | 977 | 946 | (3%) | (1%) | 3509 | 3857 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Treasury and trade solutions** | $**2415** | $**2607** | $**3057** | $**3209** | $**3290** | **3%** | **36%** | $**9215** | $**12163** | **32%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $239 | $248 | $300 | $387 | $481 | 24% | NM | $889 | $1416 | 59% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 616 | 610 | 693 | 581 | 559 | (4%) | (9%) | 2478 | 2443 | (1%) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Securities services** | $**855** | $**858** | $**993** | $**968** | $**1040** | **7%** | **22%** | $**3367** | $**3859** | **15%** |
| **Markets** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $1239 | $1092 | $1355 | $1228 | $1489 | 21% | 20% | $5161 | $5164 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 2093 | 4717 | 3937 | 2840 | 2455 | (14%) | 17% | 12715 | 13949 | 10% |
| **Total Markets revenues** | $**3332** | $**5809** | $**5292** | $**4068** | $**3944** | **(3%)** | **18%** | $**17876** | $**19113** | **7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed income markets | $2414 | $4282 | $4056 | $3062 | $3155 | 3% | 31% | $12880 | $14555 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity markets | 918 | 1527 | 1236 | 1006 | 789 | (22%) | (14%) | 4996 | 4558 | (9%) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**3332** | $**5809** | $**5292** | $**4068** | $**3944** | **(3%)** | **18%** | $**17876** | $**19113** | **7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rates and currencies | $1710 | $3214 | $3249 | $2492 | $2788 | 12% | 63% | $8793 | $11743 | 34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spread products / other fixed income | 704 | 1068 | 807 | 570 | 367 | (36%) | (48%) | 4087 | 2812 | (31%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total fixed income markets revenues** | $**2414** | $**4282** | $**4056** | $**3062** | $**3155** | **3%** | **31%** | $**12880** | $**14555** | **13%** |
| **Banking** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $835 | $768 | $811 | $723 | $723 | - | (13%) | $3243 | $3025 | (7%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest revenue | 1471 | 1118 | 1266 | 500 | 162 | (68%) | (89%) | 6135 | 3046 | (50%) |
| **Total Banking revenues, including gain/(loss) on loan hedges** | $**2306** | $**1886** | $**2077** | $**1223** | $**885** | **(28%)** | **(62%)** | $**9378** | $**6071** | **(35%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment banking |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advisory | $571 | $347 | $357 | $392 | $269 | (31%) | (53%) | $1796 | $1365 | (24%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity underwriting | 462 | 185 | 177 | 100 | 149 | 49% | (68%) | 2249 | 611 | (73%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt underwriting | 520 | 496 | 271 | 139 | 227 | 63% | (56%) | 2586 | 1133 | (56%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total investment banking | 1553 | 1028 | 805 | 631 | 645 | 2% | (58%) | 6631 | 3109 | (53%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate lending - excluding gain/(loss) on loan hedges<sup>(1)</sup> | 732 | 689 | 778 | 648 | 540 | (17%) | (26%) | 2887 | 2655 | (8%) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Banking revenues (ex-gain/(loss) on loan hedges)**<sup>(1)</sup> | $**2285** | $**1717** | $**1583** | $**1279** | $**1185** | **(7%)** | **(48%)** | $**9518** | $**5764** | **(39%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain/(loss) on loan hedges<sup>(1)</sup> | 21 | 169 | 494 | (56) | (300) | NM | NM | (140) | 307 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Banking revenues including gain/(loss) on loan hedges**<sup>(1)</sup> | $**2306** | $**1886** | $**2077** | $**1223** | $**885** | **(28%)** | **(62%)** | $**9378** | $**6071** | **(35%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total ICG revenues, net of interest expense** | $**8908** | $**11160** | $**11419** | $**9468** | $**9159** | **(3%)** | **3%** | $**39836** | $**41206** | **3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable-equivalent adjustments<sup>(2)</sup> | 159 | 100 | 116 | 115 | 103 | (10%) | (35)% | 559 | 434 | (22%) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total ICG revenues - including taxable-equivalent adjustments**<sup>(2)</sup> | $**9067** | $**11260** | $**11535** | $**9583** | $**9262** | **(3%)** | **2%** | $**40395** | $**41640** | **3%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) 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;(2) Primarily relates to income tax credits related to affordable housing and alternative energy investments as well as tax exempt income from municipal bond investments.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**PERSONAL BANKING AND WEALTH MANAGEMENT**

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** | **Full**<br>**Year**<br>**2021** | **Full**<br>**Year**<br>**2022** | **FY 2022 vs.**<br>**FY 2021 Increase/**<br>**(Decrease)** |
| Net interest income | $5322 | $5385 | $5569 | $5836 | $5866 | 1% | 10% | $20646 | $22656 | 10% |
| Non-interest revenue | 463 | 520 | 460 | 351 | 230 | (34%) | (50%) | 2681 | 1561 | (42%) |
| **Total revenues, net of interest expense** | **5785** | **5905** | **6029** | **6187** | **6096** | **(1%)** | **5%** | **23327** | **24217** | **4%** |
| Total operating expenses | 4017 | 3889 | 3985 | 4077 | 4307  | 6% | 7% | 14610 | 16258 | 11% |
| &nbsp;&nbsp;&nbsp;Net credit losses on loans | 568 | 691 | 699 | 723 | 908  | 26% | 60% | 3061 | 3021 | (1%) |
| &nbsp;&nbsp;&nbsp;Credit reserve build / (release) for loans | (866) | (1062) | 638 | 360 | 771 | NM | NM | (4284) | 707 | NM |
| &nbsp;&nbsp;&nbsp;Provision for credit losses on unfunded lending commitments | (3) | (2) | 13 | 19 | (19)  | NM | NM | (16) | 11 | NM |
| &nbsp;&nbsp;&nbsp;Provisions for benefits and claims, and other assets | 5 | (3) | 5 | 7 | 6  | (14%) | 20% | 15 | 15 | - |
| Provisions for credit losses and for benefits and claims (PBC) | (296) | (376) | 1355 | 1109 | 1666  | 50% | NM | (1224) | 3754 | NM |
| Income (loss) from continuing operations before taxes | 2064 | 2392 | 689 | 1001 | 123  | (88%) | (94%) | 9941 | 4205 | (58%) |
| Income taxes (benefits) | 451 | 532 | 136 | 209 | 9  | (96%) | (98%) | 2207 | 886 | (60%) |
| **Income (loss) from continuing operations** | **1613** | **1860** | **553** | **792** | **114**  | **(86%)** | **(93%)** | **7734** | **3319** | **(57%)** |
| Noncontrolling interests | - | - | - | - | -  | - | - | - | - | - |
| **Net income (loss)** | $**1613** | $**1860** | $**553** | $**792** | $**114** | **(86%)** | **(93%)** | $**7734** | $**3319** | **(57%)** |
| EOP assets (in billions) | $464 | $476 | $479 | $479 | $494 | 3% | 6% |  |  |  |
| Average assets (in billions) | 476 | 474 | 474 | 473 | 484 | 2% | 2% | 467 | 476 | 2% |
| Efficiency ratio | 69% | 66% | 66% | 66% | 71% | 500 bps | 200 bps | 63% | 67% | 400 bps |
| **Revenue by reporting unit and component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Branded cards<br>| $2073<br>| $2090<br>| $2168<br>| $2258<br>| $2376<br>| 5%<br>| 15%<br>| $8190<br>| $8892<br>| 9%<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retail services | 1290 | 1299 | 1300 | 1431 | 1420 | (1%) | 10% | 5082 | 5450 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retail banking | 624 | 595 | 656 | 642 | 608 | (5%) | (3%) | 2506 | 2501 | - |
| &nbsp;&nbsp;&nbsp;U.S. Personal Banking | 3987 | 3984 | 4124 | 4331 | 4404 | 2% | 10% | 15778 | 16843 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Private bank | 688 | 779 | 745 | 649 | 589 | (9%) | (14%) | 2943 | 2762 | (6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wealth at Work | 177 | 183 | 170 | 182 | 195 | 7% | 10% | 691 | 730 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigold | 933 | 959 | 990 | 1025 | 908 | (11%) | (3%) | 3915 | 3882 | (1%) |
| &nbsp;&nbsp;&nbsp;Global Wealth Management | 1798 | 1921 | 1905 | 1856 | 1692 | (9%) | (6%) | 7549 | 7374 | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $5785 | $5905 | $6029 | $6187 | $6096 | (1%) | 5% | $23327 | $24217 | 4% |
| **Average loans by reporting unit** (in billions) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Personal Banking | $162 | $161 | $167 | $174 | $180 | 3% | 11% | $159 | $170 | 7% |
| &nbsp;&nbsp;&nbsp;Global Wealth Management | 150 | 151 | 150 | 151 | 150 | (1%) | - | 148 | 151 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $312 | $312 | $317 | $325 | $330 | 2% | 6% | $307 | $321 | 5% |
| **Average deposits by reporting unit** (in billions) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Personal Banking | $114 | $118 | $116 | $115 | $111 | (3%) | (3%) | $112 | $115 | 3% |
| &nbsp;&nbsp;&nbsp;Global Wealth Management | 323 | 329 | 319 | 313 | 320 | 2% | (1%) | 305 | 320 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $437 | $447 | $435 | $428 | $431 | 1% | (1%) | $417 | $435 | 4% |

---

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**PERSONAL BANKING AND WEALTH MANAGEMENT**

**Metrics**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** |
| **U.S. Personal Banking Key Indicators** <u>(in billions of dollars, except as otherwise noted)</u> |  |  |  |  |  |  |  |
| New account acquisitions (in thousands) |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded cards | 1069 | 991 | 1069 | 1090 | 1023 | (6%) | (4%) |
| &nbsp;&nbsp;&nbsp;Retail services | 3126 | 2178 | 2634 | 2339 | 2806 | 20% | (10%) |
| Credit card spend volume |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded cards | $115.2 | $106.8 | $121.8 | $120.7 | $125.3 | 4% | 9% |
| &nbsp;&nbsp;&nbsp;Retail services | 27.1 | 21.4 | 26.1 | 24.5 | 27.1 | 11% | - |
| Average loans<sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded cards | $84.5 | $84.0 | $87.9 | $91.8 | $95.4 | 4% | 13% |
| &nbsp;&nbsp;&nbsp;Retail services | 43.8 | 44.2 | 44.8 | 46.1 | 48.0 | 4% | 10% |
| EOP loans<sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded cards | $87.9 | $85.9 | $91.6 | $93.7 | $100.2 | 7% | 14% |
| &nbsp;&nbsp;&nbsp;Retail services | 46.0 | 44.1 | 45.8 | 46.7 | 50.5 | 8% | 10% |
| NII as a % of average loans<sup>(2)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded cards | 8.93% | 9.16% | 8.86% | 8.98% | 8.97% |  |  |
| &nbsp;&nbsp;&nbsp;Retail services | 16.55% | 16.93% | 17.32% | 17.45% | 16.92% |  |  |
| NCLs as a % of average loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded cards | 1.33% | 1.46% | 1.50% | 1.50% | 1.68% |  |  |
| &nbsp;&nbsp;&nbsp;Retail services | 2.10% | 2.31% | 2.60% | 2.71% | 3.30% |  |  |
| Loans 90+ days past due as a % of EOP loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded cards | 0.44% | 0.47% | 0.46% | 0.51% | 0.63% |  |  |
| &nbsp;&nbsp;&nbsp;Retail services | 1.05% | 1.15% | 1.16% | 1.35% | 1.56% |  |  |
| Loans 30-89 days past due as a % of EOP loans |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Branded cards | 0.46% | 0.49% | 0.47% | 0.59% | 0.69% |  |  |
| &nbsp;&nbsp;&nbsp;Retail services | 1.17% | 1.27% | 1.27% | 1.53% | 1.62% |  |  |
| Average deposits | $114 | $118 | $116 | $115 | $111 | (3%) | (3%) |
| Branches (actual) | 658 | 658 | 658 | 653 | 654 | - | (1%) |
| Mortgage originations | $3.4 | $3.1 | $4.1 | $4.2 | $2.7 | (36%) | (21%) |
| **Global Wealth Management Key Indicators** <u>(in billions of dollars)</u> |  |  |  |  |  |  |  |
| Client assets | $814 | $788 | $730 | $708 | $746 | 5% | (8%) |
| Average loans | 150 | 151 | 150 | 151 | 150 | (1%) | - |
| Average deposits | 323 | 329 | 319 | 313 | 320 | 2% | (1%) |
| U.S. mortgage originations | 3.5 | 3.7 | 5.3 | 4.4 | 2.5 | (43%) | (29%) |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) Net interest income includes certain fees that are recorded as interest revenue. <br>

Reclassified to conform to the current period's presentation.

------

**LEGACY FRANCHISES**<sup>(1)</sup>

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** | **Full**<br>**Year**<br>**2021** | **Full**<br>**Year**<br>**2022** | **FY 2022 vs.**<br>**FY 2021 Increase/**<br>**(Decrease)** |
| Net interest income | $1534 | $1508 | $1474 | $1385 | $1324 | (4%) | (14%) | $6250 | $5691 | (9%) |
| Non-interest revenue<sup>(2)(3)</sup> | 659 | 423 | 461 | 1169 | 728 | (38%) | 10% | 2001 | 2781 | 39% |
| **Total revenues, net of interest expense** | **2193** | **1931** | **1935** | **2554** | **2052** | **(20%)** | **(6%)** | **8251** | **8472** | **3%** |
| Total operating expenses<sup>(3)(4)</sup> | 2971 | 2293 | 1814 | 1845 | 1830 | (1%) | (38%) | 8259 | 7782 | (6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net credit losses on loans | 216 | 151 | 133 | 164 | 168 | 2% | (22%) | 1478 | 616 | (58%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit reserve build / (release) for loans | (118) | (146) | (28) | 6 | (61) | NM | 48% | (1621) | (229) | 86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on unfunded lending commitments | (9) | 124 | (3) | (31) | 3 | NM | NM | (19) | 93 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions for benefits and claims, HTM debt securities and other assets | 23 | 31 | 19 | 28 | 13 | (54%) | (43%) | 100 | 91 | (9%) |
| Provisions for credit losses and for benefits and claims (PBC) | 112 | 160 | 121 | 167 | 123 | (26%) | 10% | (62) | 571 | NM |
| Income (loss) from continuing operations before taxes | (890) | (522) | - | 542 | 99 | (82%) | NM | 54 | 119 | NM |
| Income taxes (benefits) | (270) | (137) | 15 | 226 | 24 | (89%) | NM | 63 | 128 | NM |
| **Income (loss) from continuing operations** | **(620)** | **(385)** | **(15)** | **316** | **75** | **(76%)** | **NM** | **(9)** | **(9)** | **-** |
| Noncontrolling interests | (4) | (2) | 2 | - | 3 | NM | NM | (10) | 3 | NM |
| **Net income (loss)** | $**(616)** | $**(383)** | $**(17)** | $**316** | $**72** | **(77%)** | **NM** | $**1** | $**(12)** | **NM** |
| EOP assets (in billions) | $125 | $122 | $108 | $100 | $97 | (3%) | (22%) |  |  |  |
| Average assets (in billions) | 123 | 124 | 115 | 103 | 99 | (4%) | (20%) | 127 | 110 | (13%) |
| Efficiency ratio | 135% | 119% | 94% | 72% | 89% | 1,700 bps | (4600) bps | 100% | 92% | -800 bps |
| **Revenue by reporting unit and component** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Asia Consumer | $948 | $787 | $880 | $1372 | $772 | (44%) | (19%) | $3405 | $3811 | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Mexico Consumer/SBMM | 1168 | 1139 | 1184 | 1173 | 1255 | 7% | 7% | 4651 | 4751 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Legacy Holdings Assets | 77 | 5 | (129) | 9 | 25 | NM | (68%) | 195 | (90) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $2193 | $1931 | $1935 | $2554 | $2052 | (20%) | (6%) | $8251 | $8472 | 3% |
| **Asia Consumer - Key Indicators** <u>(in billions of dollars)</u> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $41.1 | $19.5 | $17.3 | $13.4 | $13.3 | (1%) | (68%) |  |  |  |
| EOP deposits | 43.3 | 17.5 | 17.2 | 14.6 | 14.5 | (1%) | (67%) |  |  |  |
| Average loans | 42.3 | 23.1 | 18.2 | 15.2 | 13.2 | (13%) | (69%) |  |  |  |
| NCLs as a % of average loans | 0.96% | 0.79% | 0.77% | 1.02% | 1.23% |  |  |  |  |  |
| Loans 90+ days past due as a % of EOP loans | 0.51% | 0.28% | 0.29% | 0.35% | 0.37% |  |  |  |  |  |
| Loans 30-89 days past due as a % of EOP loans | 0.69% | 0.32% | 0.40% | 0.47% | 0.53% |  |  |  |  |  |
| **Mexico Consumer/SBMM - Key Indicators** <u>(in billions of dollars)</u> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $20.0 | $20.7 | $20.6 | $20.7 | $21.9 | 6% | 9% |  |  |  |
| EOP deposits | 32.7 | 33.9 | 35.5 | 35.8 | 36.5 | 2% | 12% |  |  |  |
| Average loans | 19.4 | 19.6 | 20.5 | 20.4 | 21.3 | 4% | 10% |  |  |  |
| NCLs as a % of average loans | 2.72% | 2.55% | 2.15% | 2.64% | 2.48% |  |  |  |  |  |
| Loans 90+ days past due as a % of EOP loans (Mexico Consumer only) | 1.38% | 1.32% | 1.29% | 1.26% | 1.28% |  |  |  |  |  |
| Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only) | 1.30% | 1.30% | 1.18% | 1.23% | 1.26% |  |  |  |  |  |
| **Legacy Holdings Assets - Key Indicators** <u>(in billions of dollars)</u> |  |  |  |  |  |  |  |  |  |  |
| EOP loans | $3.9 | $3.7 | $3.2 | $3.2 | $3.0 | (6%) | (23%) |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Legacy Franchises consists of the consumer franchises in 13 markets across Asia and EMEA that Citi intends to exit or has exited (Asia Consumer); the consumer, small business & middle-market banking (Mexico SBMM) operations in Mexico (collectively Mexico Consumer/SBMM); and Legacy Holdings Assets (primarily North America consumer mortgage loans and other legacy assets).

&nbsp;&nbsp;&nbsp;&nbsp;(2) See footnote 2 on page 1.

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

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**CORPORATE / OTHER**<sup>(1)</sup>

(In millions of dollars, except as otherwise noted)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** | **Full**<br>**Year**<br>**2021** | **Full**<br>**Year**<br>**2022** | **FY 2022 vs.**<br>**FY 2021 Increase/**<br>**(Decrease)** |
| Net interest income | $195 | $194 | $401 | $772 | $1043 | 35% | NM | $599 | $2410 | NM |
| Non-interest revenue  | (64) | (4) | (146) | (473) | (344) | 27% | NM | (129) | (967) | NM |
| **Total revenues, net of interest expense** | **131** | **190** | **255** | **299** | **699** | **NM** | **NM** | **470** | **1443** | **NM** |
| Total operating expenses | 319 | 260 | 160 | 286 | 247 | (14%) | (23%) | 1375 | 953 | (31%) |
| Provisions for HTM debt securities and other assets | - | - | - | 3 | - | (100%) | - | (2) | 3 | NM |
| Income (loss) from continuing operations before taxes | (188) | (70) | 95 | 10 | 452 | NM | NM | (903) | 487 | NM |
| Income taxes (benefits) | (44) | (262) | (178) | (211) | 21 | NM | NM | (888) | (630) | 29% |
| **Income (loss) from continuing operations** | **(144)** | **192** | **273** | **221** | **431** | **95%** | **NM** | **(15)** | **1117** | **NM** |
| **Income (loss) from discontinued operations, net of taxes**<sup>(2)</sup> | - | (2) | (221) | (6) | (2) | 67% | NM | 7 | (231) | NM |
| Noncontrolling interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 1 | 2 | 6 | (2) | NM | NM | - | 7 | NM |
| **Net income (loss)** | $**(144)** | $**189** | $**50** | $**209** | $**431** | **NM** | **NM** | $**(8)** | $**879** | **NM** |
| EOP assets (in billions) | $89 | $92 | $94 | $96 | $96 | - | 8% |  |  |  |

---

&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) See footnote 6 on page 1.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**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> | **% Average Rate** <sup>(4)</sup> | **% Average Rate** <sup>(4)</sup> |
| *In millions of dollars, except as otherwise noted* | **4Q21** | **3Q22** | **4Q22**<sup>(5)</sup> | **4Q21** | **3Q22** | **4Q22**<sup>(5)</sup> | **4Q21** |  | **3Q22** |  | **4Q22**<sup>(5)</sup> |
| **Assets** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits with banks | $295330 | $256444 | $305658 | $159 | $1218 | $2343 | **0.21** | **%** | **1.88** | **%** | **3.04%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities borrowed and purchased under resale agreements<sup>(6)</sup> | 341256 | 361719 | 358513 | 289 | 2176 | 3779 | **0.34** | **%** | **2.39** | **%** | **4.18%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading account assets<sup>(7)</sup>  | 269149 | 272996 | 277374 | 1276 | 1991 | 2626 | **1.88** | **%** | **2.89** | **%** | **3.76%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 512181 | 513414 | 519072 | 1951 | 3010 | 3812 | **1.51** | **%** | **2.33** | **%** | **2.91%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer loans | 371481 | 356347 | 360518 | 6618 | 7380 | 8148 | **7.07** | **%** | **8.22** | **%** | **8.97%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate loans | 295927 | 298371 | 291984 | 2328 | 3430 | 4121 | **3.12** | **%** | **4.56** | **%** | **5.60%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans (net of unearned income)<sup>(8)</sup> | 667408 | 654718 | 652502 | 8946 | 10810 | 12269 | **5.32** | **%** | **6.55** | **%** | **7.46%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other interest-earning assets | 86527 | 110619 | 98131 | 249 | 760 | 912 | **1.14** | **%** | **2.73** | **%** | **3.69%** |
| **Total average interest-earning assets**  | $**2171851** | $**2169910** | $**2211250** | $**12870** | $**19965** | $**25741** | **2.35** | **%** | **3.65** | **%** | **4.62%** |
| **Liabilities** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits<sup>(9)</sup> | 1111944 | 1075359 | 1131425 | 778 | 3270 | 5998 | **0.28** | **%** | **1.21** | **%** | **2.10%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities loaned and sold under repurchase agreements<sup>(6)</sup> | 221948 | 207190 | 205138 | 212 | 1251 | 2267 | **0.38** | **%** | **2.40** | **%** | **4.38%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading account liabilities<sup>(7)</sup> | 114233 | 128525 | 121423 | 112 | 472 | 681 | **0.39** | **%** | **1.46** | **%** | **2.23%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings and other interest-bearing liabilities | 103523 | 154322 | 153326 | 51 | 745 | 1420 | **0.20** | **%** | **1.92** | **%** | **3.67%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt<sup>(10)</sup> | 175804 | 169329 | 169642 | 856 | 1618 | 2072 | **1.93** | **%** | **3.79** | **%** | **4.85%** |
| **Total average interest-bearing liabilities** | $**1727452** | $**1734725** | $**1780954** | $**2009** | $**7356** | $**12438** | **0.46** | **%** | **1.68** | **%** | **2.77%** |
| **Net interest income as a % of average interest-earning assets (NIM)**<sup>(9)</sup> |  |  |  | $**10861** | $**12609** | $**13303** | **1.98** | **%**  | **2.31** | **%**  | **2.39%** |
| **4Q22 increase (decrease) from:** |  |  |  |  |  |  | **41** | **bps** | **8** | **bps** |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Interest revenue and Net interest income include the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $42 million for 4Q21, $46 million for 3Q22 and $33 million for 4Q22.

&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) 4Q22 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 ICG is reported as a reduction of interest revenue. Interest revenue and interest expense on cash collateral positions are reported in trading account assets and trading account liabilities, respectively.

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

&nbsp;&nbsp;&nbsp;&nbsp;(9) See footnote 1 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(10) Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions revenue.

Reclassified to conform to the current period's presentation.

------

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

(In billions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | **4Q22 Increase/** | **4Q22 Increase/** |
|  | **4Q** | **1Q** | **2Q** | **3Q** | **4Q** | **(Decrease) from** | **(Decrease) from** |
|  | **2021** | **2022** | **2022** | **2022** | **2022** | **3Q22** | **4Q21** |
| **Corporate loans - by region** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;North America | $126.7 | $129.2 | $129.9 | $125.9 | $127.8 | 2% | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;EMEA | 75.7 | 81.2 | 76.8 | 71.6 | 71.0 | (1%) | (6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Latin America | 32.2 | 35.9 | 36.2 | 35.4 | 36.2 | 2% | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asia | 56.6 | 63.0 | 58.8 | 55.5 | 54.2 | (2%) | (4%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total corporate loans** | $**291.2** | $**309.3** | $**301.7** | $**288.4** | $**289.2** | **-** | **(1%)** |
| **Corporate loans - by reporting unit** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Services | $75.2 | $86.7 | $86.1 | $80.8 | $77.5 | (4%) | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Markets | 15.1 | 14.6 | 12.6 | 11.7 | 13.6 | 16% | (10%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking | 194.2 | 200.9 | 195.9 | 188.9 | 191.0 | 1% | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Legacy Franchises - Mexico SBMM | 6.7 | 7.1 | 7.1 | 7.0 | 7.1 | 1% | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total corporate loans** | $**291.2** | $**309.3** | $**301.7** | $**288.4** | $**289.2** | **-** | **(1%)** |
| **Personal Banking and Wealth Management** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Branded cards | $87.9 | $85.9 | $91.6 | $93.7 | $100.2 | 7% | 14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retail services | 46.0 | 44.1 | 45.8 | 46.7 | 50.5 | 8% | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retail banking | 33.0 | 33.3 | 35.4 | 35.8 | 37.1 | 4% | 12% |
| &nbsp;&nbsp;U.S. Personal Banking | $166.9 | $163.3 | $172.8 | $176.2 | $187.8 | 7% | 13% |
| &nbsp;&nbsp;Global Wealth Management | 151.3 | 150.2 | 148.8 | 151.1 | 149.2 | (1%) | (1%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**318.2** | $**313.5** | $**321.6** | $**327.3** | $**337.0** | **3%** | **6%** |
| **Legacy Franchises - Consumer** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Asia Consumer<sup>(3)</sup> | $41.1 | $19.5 | $17.3 | $13.4 | $13.3 | (1%) | (68%) |
| &nbsp;&nbsp;Mexico Consumer | 13.3 | 13.6 | 13.5 | 13.7 | 14.8 | 8% | 11% |
| &nbsp;&nbsp;Legacy Holdings Assets | 3.9 | 3.7 | 3.2 | 3.2 | 3.0 | (6%) | (23%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $**58.3** | $**36.8** | $**34.0** | $**30.3** | $**31.1** | 3% | (47%) |
| **Total consumer loans** | $**376.5** | $**350.3** | $**355.6** | $**357.6** | $**368.1** | **3%** | **(2%)** |
| **Total loans** | $**667.8** | $**659.7** | $**657.3** | $**646.0** | $**657.2** | **2%** | **(2%)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Corporate loans include loans managed by ICG and Legacy Franchises-Mexico SBMM.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Consumer loans include loans managed by PBWM and Legacy Franchises (other than Mexico Small Business & Middle-Market Banking (Mexico SBMM) loans).

&nbsp;&nbsp;&nbsp;&nbsp;(3) Asia Consumer includes loans of certain EMEA countries for all periods presented.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**DEPOSITS**

(In billions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  | <br>**4Q**<br>**2021**  | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** |
| **ICG by region** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;North America | $382.8 | $390.5 | $404.3 | $391.0 | $405.5 | 4% | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;EMEA | 193.1 | 208.6 | 210.7 | 197.7 | 215.6 | 9% | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Latin America | 37.7 | 38.9 | 37.7 | 35.5 | 40.9 | 15% | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asia | 175.8 | 187.5 | 176.0 | 172.7 | 183.4 | 6% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $789.4 | $825.5 | $828.7 | $796.9 | $845.4 | 6% | 7% |
| **ICG by reporting unit** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury and trade solutions | $633.2 | $664.2 | $670.3 | $647.1 | $701.3 | 8% | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities services | 133.8 | 138.7 | 136.3 | 127.8 | 119.8 | (6%) | (10%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Services | $767.0 | $802.9 | $806.6 | $774.9 | $821.1 | 6% | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Markets | 21.4 | 21.5 | 20.9 | 20.5 | 22.6 | 10% | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking | 1.0 | 1.5 | 1.2 | 1.5 | 1.7 | 13% | 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $789.4 | $825.5 | $828.7 | $796.9 | $845.4 | 6% | 7% |
| **Personal Banking and Wealth Management** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Personal Banking | $116.8 | $119.5 | $115.7 | $115.2 | $112.5 | (2%) | (4%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Global Wealth Management | 329.2 | 332.1 | 311.9 | 312.1 | 325.3 | 4% | (1%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $446.0 | $451.6 | $427.6 | $427.3 | $437.8 | 2% | (2%) |
| **Legacy Franchises** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Asia Consumer<sup>(1)</sup> | $43.3 | $17.5 | $17.2 | $14.6 | $14.5 | (1%) | (67%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Mexico Consumer/SBMM | 32.7 | 33.9 | 35.5 | 35.8 | 36.5 | 2% | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Legacy Holdings Assets | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $76.0 | $51.4 | $52.7 | $50.4 | $51.0 | 1% | (33%) |
| **Corporate/Other** | 5.8 | 5.2 | 12.8 | 31.9 | 31.8 | - | NM |
| **Total deposits - EOP** | $1317.2 | $1333.7 | $**1321.8** | $**1306.5** | $**1366.0** | **5%** | **4%** |
| **Total deposits - average** | $1370.3 | $1334.3 | $**1322.5** | $**1315.9** | $**1361.1** | **3%** | **(1%)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Asia Consumer includes deposits of certain EMEA countries for all periods presented.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

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

(In millions of dollars, except for ratios)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Builds / (releases)** | **Builds / (releases)** | **Builds / (releases)** | **Builds / (releases)** | **Builds / (releases)** | | | **Builds / (releases)** | **Builds / (releases)** | **Builds / (releases)** | **Builds / (releases)** | **Builds / (releases)** | | | |
|  | <br>**Balance**<br>**12/31/20** | **1Q21** | **2Q21** | **3Q21** | **4Q21** | **FY 2021** | <br>**FY 2021**<br>**FX/Other** | <br>**Balance**<br>**12/31/21** | **1Q22** | **2Q22** | **3Q22** | **4Q22** | **FY 2022** | <br>**FY 2022**<br>**FX/Other** | <br>**Balance**<br>**12/31/22** | **ACLL/EOP**<br>**Loans**<br>**12/31/22** |
| **Allowance for credit losses on loans (ACLL)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ICG | $4356 | $(1103) | $(812) | $14 | $(192) | $(2093) | $(22) | $2241 | $596 | $(76) | $75 | $(117) | $478 | $(4) | $2715 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Legacy Franchises corporate (Mexico SBMM) | 420 | (124) | (51) | (61) | (1) | (237) | (9) | 174 | 5 | (3) | (34) | (7) | (39) | 5 | 140 |  |
| **Total corporate ACLL** | $**4776** | $**(1227)** | $**(863)** | $**(47)** | $**(193)** | $**(2330)** | $**(31)** | $**2415** | $**601** | $**(79)** | $**41** | $**(124)** | $**439** | $**1** | $**2855** | **1.01%** |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Cards | $14665 | $(1301) | $(840) | $(763) | $(921) | $(3825) | $- | $10840 | $(1009) | $447 | $303 | $814 | $555 | $(2) | $11393 | **7.56%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail banking and Global Wealth Management | 1643 | (241) | (200) | (73) | 55 | (459) | (3) | 1181 | (53) | 191 | 57 | (43) | 152 | (3) | 1330 |  |
| Total PBWM | $16308 | $(1542) | $(1040) | $(836) | $(866) | $(4284) | $(3) | $12021 | $(1062) | $638 | $360 | $771 | $707 | $(5) | $12723 |  |
| Legacy Franchises - consumer | 3872 | (458) | (543) | (266) | (117) | (1384) | (469) | 2019 | (151) | (25) | 40 | (54) | (190) | (433) | 1396 |  |
| **Total consumer ACLL** | $**20180** | $**(2000)** | $**(1583)** | $**(1102)** | $**(983)** | $**(5668)** | $**(472)** | $**14040** | $**(1213)** | $**613** | $**400** | $**717** | $**517** | $**(438)** | $**14119** | **3.84%** |
| **Total ACLL** | $**24956** | $**(3227)** | $**(2446)** | $**(1149)** | $**(1176)** | $**(7998)** | $**(503)** | $**16455** | $**(612)** | $**534** | $**441** | $**593** | $**956** | $**(437)** | $**16974** | **2.60%** |
| Allowance for credit losses on unfunded lending commitments (ACLUC) | 2655 | (626) | 44 | (13) | (193) | (788) | 4 | 1871 | 474 | (159) | (71) | 47 | 291 | (11) | 2151 |  |
| Total ACLL and ACLUC (EOP) | 27611 |  |  |  |  |  |  | 18326 |  |  |  |  |  |  | 19125 |  |
| Other<sup>(1)</sup> | 146 | 1 | 1 | (13) | 11 | - | 2 | 148 | (6) | 27 | 83 | 5 | 109 | (14) | 243 |  |
| **Total allowance for credit losses (ACL)** | $**27757** | $**(3852)** | $**(2401)** | $**(1175)** | $**(1358)** | $**(8786)** | $**(497)** | $**18474** | $**(144)** | $**402** | $**453** | $**645** | $**1356** | $**(462)** | $**19368** |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes ACL on HTM securities and Other assets.

Reclassified to conform to the current period's presentation.

------

**ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS**

**Page 1**

(In millions of dollars)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** | | | |
|  | | | | | | **(Decrease) from** | **(Decrease) from** | | | |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** | **Full**<br>**Year**<br>**2021** | **Full**<br>**Year**<br>**2022** | **FY 2022 vs.**<br>**FY 2021 Increase/**<br>**(Decrease)** |
| **Total Citigroup** |  |  |  |  |  |  |  |  |  |  |
| **Allowance for credit losses on loans (ACLL) at beginning of period** | $**17715** | $**16455** | $**15393** | $**15952** | $**16309** | 2% | (8%) | $**24956** | $**16455** |  |
| Gross credit (losses) on loans | (1279) | (1240) | (1212) | (1237) | (1467) | (19%) | (15%) | (6720) | (5156) | 23% |
| Gross recoveries on loans | 413 | 368 | 362 | 350 | 287 | (18%) | (31%) | 1825 | 1367 | (25%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net credit (losses) / recoveries on loans (NCLs)** | (866) | (872) | (850) | (887) | (1180) | 33% | 36% | (4895) | (3789) | (23%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Replenishment of NCLs | 866 | 872 | 850 | 887 | 1180 | 33% | 36% | 4895 | 3789 | (23%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net reserve builds / (releases) for loans | (1176) | (612) | 534 | 441 | 593 | 34% | NM | (7998) | 956 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Provision for credit losses on loans (PCLL)** | **(310)** | **260** | **1384** | **1328** | **1773** | **34%** | **NM** | **(3103)** | **4745** | **NM** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net<sup>(1)(2)(3)(4)(5)(6)</sup> | (84) | (450) | 25 | (84) | 72 | NM | NM | (503) | (437) |  |
| **ACLL at end of period (a)** | $**16455** | $**15393** | $**15952** | $**16309** | $**16974** | 4% | 3% | $**16455** | $**16974** |  |
| **Allowance for credit losses on unfunded lending commitments (ACLUC)**<sup>(</sup><sup>7)</sup> **(a)** | $**1871** | $**2343** | $**2193** | $**2089** | $**2151** | 3% | 15% | $**1871** | $**2151** |  |
| **Provision (release) for credit losses on unfunded lending commitments** | $**(193)** | $**474** | $**(159)** | $**(71)** | $**47** | NM | NM | $**(788)** | $**291** |  |
| **Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]** | $**18326** | $**17736** | $**18145** | $**18398** | $**19125** | 4% | 4% | $**18326** | $**19125** |  |
| Total ACLL as a percentage of total loans<sup>(8)</sup> | 2.49% | 2.35% | 2.44% | 2.54% | 2.60% |  |  |  |  |  |
| **Consumer** |  |  |  |  |  |  |  |  |  |  |
| **ACLL at beginning of period** | $**15105** | $**14040** | $**12368** | $**12983** | $**13361** | 3% | (12%) | $**20180** | $**14040** |  |
| **NCLs** | (781) | (841) | (827) | (881) | (1062) | 21% | 36% | (4509) | (3611) | (20%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Replenishment of NCLs | 781 | 841 | 827 | 881 | 1062 | 21% | 36% | 4509 | 3611 | (20%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net reserve builds / (releases) for loans | (983) | (1213) | 613 | 400 | 717 | 79% | NM | (5668) | 517 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Provision for credit losses on loans (PCLL)** | **(202)** | **(372)** | **1440** | **1281** | **1779** | **39%** | **NM** | **(1159)** | **4128** | **NM** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net<sup>(1)(2)(3)(4)(5)(6)</sup> | (82) | (459) | 2 | (22) | 41 | NM | NM | (472) | (438) | **7%** |
| **ACLL at end of period (b)** | $**14040** | $**12368** | $**12983** | $**13361** | $**14119** | 6% | 1% | $**14040** | $**14119** |  |
| **Consumer ACLUC**<sup>(7)</sup> **(b)** | $**29** | $**139** | $**165** | $**143** | $**120** | (16%) | NM | $**29** | $**120** |  |
| **Provision (release) for credit losses on unfunded lending commitments** | $**(5)** | $**109** | $**19** | $**(8)** | $**(20)** | NM | NM | $**(28)** | $**100** |  |
| **Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]** | $**14069** | $**12507** | $**13148** | $**13504** | $**14239** | 5% | 1% | $**14069** | $**14239** |  |
| Consumer ACLL as a percentage of total consumer loans | 3.73% | 3.53% | 3.65% | 3.74% | 3.84% |  |  |  |  |  |
| **Corporate** |  |  |  |  |  |  |  |  |  |  |
| **ACLL at beginning of period** | $**2610** | $**2415** | $**3025** | $**2969** | $**2948** | (1%) | 13% | $**4776** | $**2415** |  |
| **NCLs** | (85) | (31) | (23) | (6) | (118) | NM | 39% | (386) | (178) | (54%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Replenishment of NCLs | 85 | 31 | 23 | 6 | 118 | NM | 39% | 386 | 178 | (54%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net reserve builds / (releases) for loans | (193) | 601 | (79) | 41 | (124) | NM | 36% | (2330) | 439 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Provision for credit losses on loans (PCLL)** | **(108)** | **632** | **(56)** | **47** | **(6)** | **NM** | **94%** | **(1944)** | **617** | **NM** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net<sup>(1)</sup> | (2) | 9 | 23 | (62) | 31 | NM | NM | (31) | 1 |  |
| **ACLL at end of period (c)** | $**2415** | $**3025** | $**2969** | $**2948** | $**2855** | (3%) | 18% | $**2415** | $**2855** |  |
| **Corporate ACLUC**<sup>(7)</sup> **(c)** | $**1842** | $**2204** | $**2028** | $**1946** | $**2031** | 4% | 10% | $**1842** | $**2031** |  |
| **Provision (release) for credit losses on unfunded lending commitments** | $**(188)** | $**365** | $**(178)** | $**(63)** | $**67** | NM | NM | $**(760)** | $**191** |  |
| **Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]** | $**4257** | $**5229** | $**4997** | $**4894** | $**4886** | - | 15% | $**4257** | $**4886** |  |
| Corporate ACLL as a percentage of total corporate loans<sup>(8)</sup> | 0.85% | 1.00% | 1.00% | 1.04% | 1.01% |  |  |  |  |  |

---

Footnotes to this table are on the following page (page 16).

------

**ALLOWANCE FOR CREDIT LOSSES ON LOANS AND UNFUNDED LENDING COMMITMENTS** 

**Page 2**

**The following footnotes relate to the table on the preceding page (page 15):**

&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) 4Q21 includes an approximate $90 million reclass related to the announced sale of Citi's consumer banking operations in the Philippines. The ACLL was reclassified to Other assets during 4Q21. 4Q21 consumer also includes a decrease of approximately $6 million related to FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(3) 1Q22 includes an approximate $350 million reclass related to the announced sales of Citi's consumer banking businesses in Thailand, India, Malaysia, Taiwan, Indonesia, Bahrain, and Vietnam. The ACLL was reclassified to Other assets during 1Q22. 1Q22 consumer also includes a decrease of approximately $100 million related to FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(4) 2Q22 primarily relates to FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(5) 3Q22 primarily relates to FX translation.

&nbsp;&nbsp;&nbsp;&nbsp;(6) 4Q22 primarily relates to 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) December 31, 2021, March 31, 2022, June 30, 2022, September 30, 2022 and December 31, 2022 exclude $6.1 billion, $5.7 billion, $4.5 billion, $3.9 billion, and $5.4 billion respectively, of loans that are carried at fair value.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

------

**NON-ACCRUAL ASSETS** 

(In millions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  | <br>**4Q**<br>**2021** | <br>**1Q**<br>**2022** | <br>**2Q**<br>**2022** | <br>**3Q**<br>**2022** | <br>**4Q**<br>**2022** | **3Q22** | **4Q21** |
| **Corporate non-accrual loans by region**<sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North America | $510 | $462 | $304 | $276 | $138 | (50%) | (73%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMEA | 367 | 688 | 712 | 598 | 502 | (16%) | 37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Latin America | 568 | 631 | 563 | 555 | 429 | (23%) | (24%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asia | 108 | 85 | 76 | 56 | 53 | (5%) | (51%) |
| **Total** | $**1553** | $**1866** | $**1655** | $**1485** | $**1122** | **(24%)** | **(28%)** |
| **Corporate non-accrual loans** <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banking | $1239 | $1323 | $1015 | $1085 | $767 | (29%) | (38%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Services | 70 | 297 | 353 | 185 | 153 | (17%) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markets | 12 | 13 | 11 | - | 3 | NM | (75%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico SBMM | 232 | 233 | 276 | 215 | 199 | (7%) | (14%) |
| **Total** | $**1553** | $**1866** | $**1655** | $**1485** | $**1122** | **(24%)** | **(28%)** |
| **Consumer non-accrual loans** <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Personal Banking and Global Wealth Management | $680 | $586 | $536 | $585 | $541 | (8%) | (20%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asia Consumer<sup>(2)</sup> | 209 | 38 | 34 | 30 | 30 | - | (86%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico Consumer | 524 | 512 | 493 | 486 | 457 | (6%) | (13%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Legacy Holdings Assets - Consumer | 413 | 381 | 317 | 300 | 289 | (4%) | (30%) |
| **Total** | $**1826** | $**1517** | $**1380** | $**1401** | $**1317** | **(6%)** | **(28%)** |
| **Total non-accrual loans (NAL)** | $**3379** | $**3383** | $**3035** | $**2886** | $**2439** | **(15%)** | **(28%)** |
| **Other real estate owned (OREO)**<sup>(3)</sup> | $**27** | $**26** | $**13** | $**16** | $**15** | **(6%)** | **(44%)** |
| NAL as a percentage of total loans | 0.51% | 0.51% | 0.46% | 0.45% | 0.37% |  |  |
| ACLL as a percentage of NAL | 487% | 455% | 526% | 565% | 696% |  |  |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) Asia Consumer includes balances for certain EMEA countries for all periods presented.

&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.

------

**CITIGROUP**

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

**PER SHARE AND TANGIBLE BOOK VALUE PER SHARE**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **December 31,** | **March 31,** | **June 30,** | **September 30,** | **December 31,** |
| **Common Equity Tier 1 Capital Ratio and Components** <sup>(1)</sup> | **2021**<sup>(2)</sup> | **2022**<sup>(2)</sup> | **2022** | **2022** | **2022**<sup>(3)</sup> |
| Citigroup common stockholders' equity <sup>(4)</sup> | $183108 | $178845 | $180150 | $179696 | $182325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Add: qualifying noncontrolling interests | 143 | 126 | 129 | 113 | 128 |
| Regulatory capital adjustments and deductions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Add: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CECL transition provision <sup>(5)</sup> | 3028 | 2271 | 2271 | 2271 | 2271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated net unrealized gains (losses) on cash flow hedges, net of tax | 101 | (1440) | (2106) | (2869) | (2522) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 | (896) | 27 | 2145 | 3211 | 1441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill, net of related deferred tax liabilities (DTLs)<sup>(6)</sup> | 20619 | 20120 | 19504 | 18796 | 19007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 | 3800 | 3698 | 3599 | 3492 | 3411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Defined benefit pension plan net assets; other | 2080 | 2230 | 2038 | 1932 | 1958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>(8)</sup> | 11270 | 11701 | 11679 | 11690 | 12197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs<sup>(8)(9)</sup> | - | 1157 | 798 | 1261 | 327 |
| Common Equity Tier 1 Capital (CET1) | $149305 | $143749 | $144893 | $144567 | $148905 |
| Risk-Weighted Assets (RWA)<sup>(5)</sup> | $1219175 | $1263298 | $1217459 | $1176749 | $1142816 |
| Common Equity Tier 1 Capital ratio (CET1/RWA) | 12.25% | 11.38% | 11.90% | 12.29% | 13.0% |
| **Supplementary Leverage Ratio and Components** |  |  |  |  |  |
| Common Equity Tier 1 Capital (CET1)<sup>(5)</sup> | $149305 | $143749 | $144893 | $144567 | $148905 |
| Additional Tier 1 Capital (AT1)<sup>(7)</sup> | 20263 | 20266 | 20266 | 20263 | 20238 |
| Total Tier 1 Capital (T1C) (CET1 + AT1) | $169568 | $164015 | $165159 | $164830 | $169143 |
| Total Leverage Exposure (TLE)<sup>(5)</sup> | $2957764 | $2939533 | $2935289 | $2888535 | $2914246 |
| Supplementary Leverage ratio (T1C/TLE) | 5.73% | 5.58% | 5.63% | 5.71% | 5.8% |
| **Tangible Common Equity, Book Value and Tangible Book Value Per Share** |  |  |  |  |  |
| Common stockholders' equity | $182977 | $178714 | $180019 | $179565 | $182194 |
| Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 21299 | 19865 | 19597 | 19326 | 19691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets (other than MSRs) | 4091 | 4002 | 3926 | 3838 | 3763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill and identifiable intangible assets (other than MSRs) related to assets HFS | 510 | 1384 | 1081 | 794 | 589 |
| Tangible common equity (TCE) | $157077 | $153463 | $155415 | $155607 | $158151 |
| Common shares outstanding (CSO) | 1984.4 | 1941.9 | 1936.7 | 1936.9 | 1937.0 |
| Book value per share (common equity/CSO) | $92.21 | $92.03 | $92.95 | $92.71 | $94.06 |
| Tangible book value per share (TCE/CSO) | $79.16 | $79.03 | $80.25 | $80.34 | $81.65 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) See footnote 8 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(2) See footnote 5 on page 3.

&nbsp;&nbsp;&nbsp;&nbsp;(3) 4Q22 is preliminary

&nbsp;&nbsp;&nbsp;&nbsp;(4) Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.

&nbsp;&nbsp;&nbsp;&nbsp;(5) See footnote 9 on page 1.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Includes goodwill "embedded" in the valuation of significant common stock investments in unconsolidated financial institutions.

&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) 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 from timing differences (future deductions) that are deducted from CET1 exceeding the 10% limitation.

&nbsp;&nbsp;&nbsp;&nbsp;(9) Assets subject to 10%/15% limitations include MSRs, DTAs arising from temporary differences and significant common stock investments in unconsolidated financial institutions. As of March 31, 2022, June 30, 2022, September 30, 2022 and December 31, 2022, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.

Reclassified to conform to the current period's presentation.

------

## Exhibit 99.3

?xml version='1.0' encoding='UTF-8'?

---

| | | | |
|:---|:---|:---|:---|
|  |  |  | &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;Depositary Shares, each representing 1/1,000th interest in a share of 7.125% Fixed/Floating Rate Noncumulative Preferred Stock, Series J | &nbsp;&nbsp;&nbsp;&nbsp;C Pr J | &nbsp;&nbsp;Dep Shs, represent 1/1,000th interest in a share of 7.125% Fix/Float Rate Noncum Pref Stk, Ser J | &nbsp;&nbsp;&nbsp;&nbsp;New York Stock Exchange |
| &nbsp;&nbsp;Depositary Shares, each representing 1/1,000th interest in a share of 6.875% Fixed/Floating Rate Noncumulative Preferred Stock, Series K | &nbsp;&nbsp;&nbsp;&nbsp;C Pr K | &nbsp;&nbsp;Dep Shs, represent 1/1,000th interest in a share of 6.875% Fix/Float Rate Noncum Pref Stk, Ser K  | &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 |

---