The Power of Citi

At a Glance

ABOUT CITI

FRANCHISE STRENGTH & STRATEGY

Citi, a leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
STRUCTURE

Citi and its management team are continuing to build on the progress the company has made by remaining focused on the following strategic priorities: Generating long-term profitability and growth from Citicorp, which comprises our core franchise Managing and optimizing the assets and businesses within Citi Holdings Citis strategy for the future is clear. We are completely focused on the key forces driving global growth in financial services: value-added services (like cash management), the flows of world trade, capital and business and the growth of emerging markets. We are executing on this strategy with three objectives: 1. Shift the company even more into a client-driven services model, with a business mix of one-third services, one-third institutional and one-third consumer; 2. Capitalize on both our strong presence in emerging markets and our global capabilities to expand every product in every region; and

In early 2009, Citi organized the company into Citicorp and Citi Holdings crystallizing the companys focus on its core banking operations. Citicorp represents Citis core banking businesses and future growth opportunities, and Citi Holdings contains businesses and assets that are not core to the future of Citi. Citicorp includes the companys core global institutional and retail banking operations and serves businesses and consumers around the world. The Citicorp segment is focused on providing best-in-class products and services to grow the franchise profitably, reduce volatility and leverage the companys competitive advantages.

INVESTMENT PRODUCTS: NOT FDIC INSURED NOT CDIC INSURED NOT GOVERNMENT INSURED NO BANK GUARANTEE MAY LOSE VALUE

3. Develop Citi into the most client-centric and innovative company in our industry, in order to deepen and extend our competitive advantages
FINANCIAL PERFORMANCE AS OF 1Q2012

revenues were up 1% from the prior year period, reflecting growth in Citicorp that was partially offset by revenue declines in Citi Holdings. Citicorp revenues of $18.0 billion in the first quarter 2012 included a negative $1.4 billion of CVA/DVA. Excluding CVA/DVA, Citicorp revenues were $19.4 billion, 6% higher than the first quarter 2011. The increase reflected revenue growth in Citicorps three businesses with Global Consumer Banking (GCB) revenues 5% higher, Securities and Banking (excluding CVA/DVA) 6% higher and Transaction Services revenues 7% higher versus first quarter 2011. Citi Holdings revenues of $874 million in the first quarter 2012 were 47% below the prior year period. Excluding CVA/DVA, Citi Holdings revenues were $786 million, 53% lower than the first quarter 2011. Negative revenues in the Special Asset Pool and Brokerage and Asset Management and lower revenues in Local Consumer Lending drove the decline in Citi Holdings revenues. The lower revenues also reflected the ongoing decline in assets in Citi Holdings. Total Citi Holdings assets declined $86 billion, or 29%, from the first quarter 2011, to $209 billion. Citi Holdings assets at the end of the first quarter 2012 represented approximately 11% of total Citigroup assets. Citigroups net income declined 2% from the first quarter 2011 to $2.9 billion. Excluding the impact of CVA/DVA and the net gain on minority investments, Citigroup net income was $3.4 billion, 8% higher than the comparable first quarter 2011 results. Operating expenses of $12.3 billion were essentially unchanged from the prior year period. Citigroups cost of credit in the first quarter 2012 was 5% below the prior year period, as a $2.3 billion improvement in net credit losses was largely offset by a $2.2 billion reduction in net loan loss reserve releases.
CAPITAL BASE & LIQUIDITY

In the first quarter of 2012, Citigroup reported net income of $2.9 billion, or $0.95 per diluted share, for the first quarter 2012 on revenues of $19.4 billion. Credit valuation adjustment (CVA)/debt valuation adjustment (DVA) was a negative $1.3 billion during the first quarter, resulting from the tightening of Citis credit spreads, compared to a negative $256 million in the prior year period. First quarter results also included a net gain of $477 million from minority investments. Excluding CVA/DVA and the net gain from minority investments, first quarter revenues were $20.2 billion and earnings were $1.11 per diluted share, up 1% and 7% respectively from the prior year period. Vikram Pandit, Citis Chief Executive Officer, said, While our businesses operated in an improved environment, we also saw the benefit of our investments. We generated revenue growth and had positive operating leverage across all three of Citis core businesses. Global Consumer Banking, our largest business, produced another quarter of good growth in revenues, net income and key drivers like loans and deposits. Transaction Services had record quarterly revenues as it captured increasing share in global trade finance, and Securities and Banking rebounded strongly with year-over-year revenue growth excluding the impact of CVA/DVA. Mr. Pandit added: We continued to wind down our Citi Holdings legacy portfolio, which now stands at 11% of our total assets, while further building capital. With a Tier 1 Common Ratio of 12.4% under Basel I and an estimated Tier 1 Common Ratio of 7.2% under Basel III, we continue to be one of the best-capitalized banks in the world. While the operating environment improved in the first quarter, there is still much macro uncertainty and we will continue to manage risk carefully. We will continue to leverage the depth and the scale of our global presence to serve our clients and grow our businesses. Citigroup revenues of $20.7 billion, excluding CVA/DVA, were up 4% from the prior year. Excluding both CVA/DVA and the net gain on minority investments, Citigroup

Citi is one of the best-capitalized financial institutions in the world and we have maintained a strong liquidity base. Citi ended the first quarter with $122 billion of Tier 1 Common capital and a ratio of 12.4% under Basel I, up from 11.8% at the end of the fourth quarter. In addition, our Tier 1 Common ratio on a Basel III basis stood at 7.2% at the end of the first quarter.

Credit Valuation Adjustment (CVA) relates to the credit adjustment on a positive derivative exposure; Debt Valuation Adjustment (DVA) relates to the credit adjustment on a negative derivative exposure.
continued

Regarding liquidity, more than one quarter of our balance sheet is in cash or liquid securities. Even though the Basel III Liquidity Coverage Ratio (LCR) doesnt come into effect until 2015, with a current LCR ratio in excess of 125%, we have already exceeded the mandated requirement. Our capital and liquidity numbers are among the strongest in our industry. At the end of the first quarter, Citis book value per share was $61.90 while its tangible book value per share increased to $50.90.

CITIS MISSION STATEMENT

CITIGROUP KEY CAPITAL METRICS

Tier 1 Capital Total Capital Tier 1 Common TBV/Share1

Citi works tirelessly to serve individuals, communities, institutions and nations. With 200 years of experience meeting some of the worlds toughest challenges and seizing great opportunities, we strive to create the best outcomes for our clients and customers with financial strategies that are simple, creative and responsible. An institution connecting over 1,000 cities, 160 countries and jurisdictions and millions of people, we are your global bank; we are Citi. Additional information may be found at citigroup.com.

14.9% 11.3%

15.6% 12.0%

16.1% 12.5%

16.6% 12.9%

17.0% 13.3%

17.2% 13.6%

16.9% 13.5%

17.0% 13.5%

17.6% 14.2%

9.1%

9.7%

10.3%

10.8%

11.3%

11.6%

11.7%

11.8%

12.4%

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

4Q11

1Q122

Risk-Weighted Assets ($B)

$1,064 1Q10 $1,025 2Q10 $1,004 3Q10 $978 4Q10 $992 1Q11 $993 2Q11 $984 3Q11 $973 4Q11 $978 1Q122

Note: 1Tangible book value per share is a non-GAAP nancial measure. For a reconciliation of this metric to the most directly comparable GAAP measure. 2 Preliminary.

Tier 1 Capital is the core measure of a banks financial strength from a regulators point of view, and is the ratio of a banks core equity capital to its total risk-weighted assets. Citi Private Bank is a business of Citigroup Inc. (Citigroup), which provides its clients access to a broad array of products and services available through bank and nonbank affiliates of Citigroup. Not all products and services are provided by all affiliates or are available at all locations. Neither Citigroup nor any of its affiliates offer tax or legal advice. In the US brokerage products and services are provided by Citigroup Global Markets Inc. (CGMI), member SIPC. Accounts carried by Pershing LLC, member FINRA, NYSE, SIPC. CGMI and Citibank, N.A. are affiliated companies under the common control of Citigroup. Outside the US, brokerage products and services are provided by other Citigroup affiliates. Investment Management Services (including portfolio management) are available through CGMI, Citibank, N.A., and other affiliated advisory businesses. Past performance is no indication of future results. Real results may vary. In the United Kingdom, Citibank, N.A., London, and Citibank International plc, Citigroup Centre, Canada Square, Canary Wharf, London, E14 5LB are authorised and regulated by the Financial Services Authority. In Jersey, this document is communicated by Citibank, N.A., Jersey Branch which has its registered address at PO Box 104, 38 Esplanade, St. Helier, Jersey JE4 8QB. Citibank, N.A., Jersey Branch is regulated by the Jersey Financial Services Commission to conduct deposit-taking business under the Banking Business (Jersey) Law 1991 and investment business under the Financial Services (Jersey) Law 1998. Citibank, N.A., Jersey Branch is a member of the Depositors Compensation Scheme as set out in the Banking (Depositors Compensation) (Jersey) Regulations 2009. Further details of the scheme are available on request. Citigroup Inc. and its affiliates do not provide tax or legal advice. You should seek advice based on your particular circumstances from an independent tax advisor. To the extent that this material or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Citi and Citi with Arc Design are registered service marks of Citigroup Inc. or its affiliates. 2012 Citigroup Inc., All Rights Reserved. Citibank, N.A. Member FDIC
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