Enhanced Investments - Financial Portal

Published: 2024-04-12 10:15:18 ET

EX-99.2 3 c-20240112xex99d2.htm EXHIBIT 99.2

Exhibit 99.2


CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT		1Q24


		Page
Citigroup
Financial Summary		1
Consolidated Statement of Income		2
Consolidated Balance Sheet		3
Operating Segment, Reporting Unit, and Component—Net Revenues and Income		4

Services		5
Markets		6
Banking		7
U.S. Personal Banking (USPB)		8
Metrics		9
Wealth		10
All Other		11
Legacy Franchises		12
Corporate/Other		13
Reconciling Items—Divestiture-Related Impacts		14

Citigroup Supplemental Detail
Average Balances and Interest Rates		15
EOP Loans		16
EOP Deposits		17
Allowance for Credit Losses (ACL) Rollforward		18
Allowance for Credit Losses on Loans (ACLL) and Unfunded Lending Commitments (ACLUC)		19 - 20
Non-Accrual Assets		21
CET1 Capital and Supplementary Leverage Ratios, Tangible Common Equity, Book Value Per Share and Tangible Book Value Per Share		22

CITIGROUP FINANCIAL SUMMARY

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


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Total revenues, net of interest expense⁽¹⁾⁽²⁾	$	21,447	$	19,436	$	20,139	$	17,440	$	21,104	21%	(2%)
Total operating expenses^(3)(4)(5)		13,289		13,570		13,511		15,996		14,195	(11%)	7%
Net credit losses (NCLs)		1,302		1,504		1,637		1,994		2,303	15%	77%
Credit reserve build (release) for loans		435		257		179		478		119	(75%)	(73%)
Provision / (release) for unfunded lending commitments		(194)		(96)		(54)		(81)		(98)	(21%)	49%
Provisions for benefits and claims, other assets and HTM debt securities		432		159		78		1,156		41	(96%)	(91%)
Provisions for credit losses and for benefits and claims		1,975		1,824		1,840		3,547		2,365	(33%)	20%
Income (loss) from continuing operations before income taxes		6,183		4,042		4,788		(2,103)		4,544	NM	(27%)
Income taxes (benefits)		1,531		1,090		1,203		(296)		1,136	NM	(26%)
Income (loss) from continuing operations		4,652		2,952		3,585		(1,807)		3,408	NM	(27%)
Income (loss) from discontinued operations, net of taxes		(1)		(1)		2		(1)		(1)	-	-
Net income (loss) before noncontrolling interests		4,651		2,951		3,587		(1,808)		3,407	NM	(27%)
Net income (loss) attributable to noncontrolling interests		45		36		41		31		36	16%	(20%)
Citigroup's net income (loss)	$	4,606	$	2,915	$	3,546	$	(1,839)	$	3,371	NM	(27%)

Diluted earnings per share:
Income (loss) from continuing operations	$	2.19	$	1.33	$	1.63	$	(1.16)	$	1.58	NM	(28%)
Citigroup's net income (loss)	$	2.19	$	1.33	$	1.63	$	(1.16)	$	1.58	NM	(28%)

Preferred dividends	$	277	$	288	$	333	$	300	$	279	(7%)	1%

Income allocated to unrestricted common shareholders - basic
Income (loss) from continuing operations	$	4,296	$	2,595	$	3,158	$	(2,217)	$	3,048	NM	(29%)
Citigroup's net income (loss)		4,295		2,594		3,160		(2,218)		3,047	NM	(29%)

Income allocated to unrestricted common shareholders - diluted
Income (loss) from continuing operations	$	4,307	$	2,610	$	3,174	$	(2,217)	$	3,063	NM	(29%)
Citigroup's net income (loss)		4,306		2,609		3,176		(2,218)		3,062	NM	(29%)

Shares (in millions):
Average basic		1,943.5		1,942.8		1,924.4		1,909.7		1,910.4	-	(2%)
Average diluted		1,964.1		1,968.6		1,951.7		1,909.7		1,943.2	2%	(1%)
Common shares outstanding, at period end		1,946.8		1,925.7		1,913.9		1,903.1		1,907.4	-	(2%)


Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio^(6)(7)(8)		13.44%		13.37%		13.59%		13.37%		13.5%
Tier 1 Capital ratio^(6)(7)(8)		15.31%		15.24%		15.40%		15.02%		15.1%
Total Capital ratio^(6)(7)(8)		15.40%		15.84%		15.78%		15.13%		15.2%
Supplementary Leverage ratio (SLR)^(6)(8)(9)		5.96%		5.97%		6.04%		5.82%		5.8%
Return on average assets		0.76%		0.47%		0.58%		(0.30%)		0.55%
Return on average common equity		9.5%		5.6%		6.7%		(4.5%)		6.6%
Average tangible common equity (TCE) (in billions of dollars)	$	161.1	$	164.1	$	165.3	$	165.2	$	164.7	-	2%
Return on average tangible common equity(RoTCE)⁽¹⁰⁾		10.9%		6.4%		7.7%		(5.1%)		7.6%	NM	(330) bps
Efficiency ratio (total operating expenses/total revenues, net)		62.0%		69.8%		67.1%		91.7%		67.3%	NM	530 bps

Balance sheet data (in billions of dollars, except per share amounts):
Total assets	$	2,455.1	$	2,423.7	$	2,368.5	$	2,411.8	$	2,432.5	1%	(1%)
Total average assets		2,462.2		2,465.6		2,413.8		2,427.3		2,450.3	1%	-
Total loans		652.0		660.6		666.3		689.4		674.6	(2%)	3%
Total deposits		1,330.5		1,319.9		1,273.5		1,308.7		1,307.2	-	(2%)
Citigroup's stockholders' equity		208.3		208.7		209.5		205.5		206.6	1%	(1%)
Book value per share		96.59		97.87		99.28		98.71		99.08	-	3%
Tangible book value per share		84.21		85.34		86.90		86.19		86.67	1%	3%

Direct staff (in thousands)		240		240		240		239		237	(1%)	(1%)

(1)	See footnote 2 on page 14.

(2)	See footnote 4 on page 14.

(3)	See footnote 3 on page 14.

(4)	See footnote 5 on page 14.

(5)	See footnote 6 on page 14.

(6)	1Q24 is preliminary.

(7)

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

(8)

Citi's regulatory capital ratios and components 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 Current Expected Credit Losses Methodology" in Citigroup's 2023 Annual Report on Form 10-K.

(9)	For the composition of Citi's SLR, see page 22.

(10)	TCE and RoTCE are non - GAAP financial measures. See page 22 for a reconciliation of Citi's average TCE to Citi's total average stockholders' equity.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 1

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Revenues
Interest income	$	29,395	$	32,647	$	34,837	$	36,379	$	36,223	-	23%
Interest expense		16,047		18,747		21,009		22,555		22,716	1%	42%
Net interest income (NII)		13,348		13,900		13,828		13,824		13,507	(2%)	1%

Commissions and fees		2,366		2,132		2,195		2,212		2,724	23%	15%
Principal transactions		3,939		2,528		3,008		1,473		3,274	NM	(17%)
Administrative and other fiduciary fees		896		989		971		925		1,037	12%	16%
Realized gains (losses) on sales of investments, net		72		49		30		37		115	NM	60%
Impairment losses on investments		(86)		(71)		(70)		(96)		(30)	69%	65%
Provision for credit losses on AFS debt securities⁽¹⁾		(1)		1		(1)		(3)		-	100%	100%
Other revenue (loss)		913		(92)		178		(932)		477	NM	(48%)
Total non-interest revenues (NIR)		8,099		5,536		6,311		3,616		7,597	NM	(6%)
Total revenues, net of interest expense		21,447		19,436		20,139		17,440		21,104	21%	(2%)


Provisions for credit losses and for benefits and claims
Net credit losses		1,302		1,504		1,637		1,994		2,303	15%	77%
Credit reserve build / (release) for loans		435		257		179		478		119	(75%)	(73%)
Provision for credit losses on loans		1,737		1,761		1,816		2,472		2,422	(2%)	39%
Provision for credit losses on held-to-maturity (HTM) debt securities		(17)		(4)		(3)		-		10	NM	NM
Provision for credit losses on other assets		425		149		56		1,132		4	(100%)	(99%)
Policyholder benefits and claims		24		14		25		24		27	13%	13%
Provision for credit losses on unfunded lending commitments		(194)		(96)		(54)		(81)		(98)	(21%)	49%
Total provisions for credit losses and for benefits and claims⁽²⁾		1,975		1,824		1,840		3,547		2,365	(33%)	20%

Operating expenses
Compensation and benefits		7,538		7,388		7,424		6,882		7,673	11%	2%
Premises and equipment		598		595		620		695		585	(16%)	(2%)
Technology / communication		2,127		2,309		2,256		2,414		2,246	(7%)	6%
Advertising and marketing		331		361		324		377		228	(40%)	(31%)
Restructuring		N/A		N/A		N/A		781		225	NM	NM
Other operating		2,695		2,917		2,887		4,847		3,238	(33%)	20%
Total operating expenses		13,289		13,570		13,511		15,996		14,195	(11%)	7%

Income (loss) from continuing operations before income taxes		6,183		4,042		4,788		(2,103)		4,544	NM	(27%)
Provision (benefit) for income taxes		1,531		1,090		1,203		(296)		1,136	NM	(26%)

Income (loss) from continuing operations		4,652		2,952		3,585		(1,807)		3,408	NM	(27%)
Discontinued operations
Income (loss) from discontinued operations		(1)		(1)		2		(1)		(1)	-	-
Provision (benefit) for income taxes		-		-		-		-		-	-	-
Income (loss) from discontinued operations, net of taxes		(1)		(1)		2		(1)		(1)	-	-

Net income (loss) before attribution to noncontrolling interests		4,651		2,951		3,587		(1,808)		3,407	NM	(27%)
Noncontrolling interests		45		36		41		31		36	16%	(20%)

Citigroup's net income (loss)	$	4,606	$	2,915	$	3,546	$	(1,839)	$	3,371	NM	(27%)

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

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

N/A Not applicable.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 2

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)


											1Q24 Increase/
	March 31,		June 30,		September 30,		December 31,		March 31,		(Decrease) from
	2023		2023		2023		2023		2024⁽¹⁾		4Q23	1Q23
Assets
Cash and due from banks (including segregated cash and other deposits)	$	26,224	$	25,763	$	26,548	$	27,342	$	25,174	(8%)	(4%)
Deposits with banks, net of allowance		302,735		271,145		227,439		233,590		247,556	6%	(18%)
Securities borrowed and purchased under resale agreements, net of allowance		384,198		337,103		335,059		345,700		344,264	-	(10%)
Brokerage receivables, net of allowance		55,491		60,850		66,194		53,915		61,314	14%	10%
Trading account assets		383,906		423,189		406,368		411,756		431,468	5%	12%
Investments
Available-for-sale debt securities		240,487		237,334		241,783		256,936		254,898	(1%)	6%
Held-to-maturity debt securities, net of allowance		264,342		262,066		259,456		254,247		252,459	(1%)	(4%)
Equity securities		7,749		7,745		7,759		7,902		7,826	(1%)	1%
Total investments		512,578		507,145		508,998		519,085		515,183	(1%)	1%
Loans
Consumer⁽²⁾		363,696		374,591		377,714		389,197		381,759	(2%)	5%
Corporate⁽³⁾		288,299		286,021		288,634		300,165		292,819	(2%)	2%
Loans, net of unearned income		651,995		660,612		666,348		689,362		674,578	(2%)	3%
Allowance for credit losses on loans (ACLL)		(17,169)		(17,496)		(17,629)		(18,145)		(18,296)	(1%)	(7%)
Total loans, net		634,826		643,116		648,719		671,217		656,282	(2%)	3%
Goodwill		19,882		19,998		19,829		20,098		20,042	-	1%
Intangible assets (including MSRs)		4,632		4,576		4,540		4,421		4,338	(2%)	(6%)
Premises and equipment, net of depreciation and amortization		27,119		27,818		27,959		28,747		29,188	2%	8%
Other assets, net of allowance		103,522		102,972		96,824		95,963		97,701	2%	(6%)
Total assets	$	2,455,113	$	2,423,675	$	2,368,477	$	2,411,834	$	2,432,510	1%	(1%)

Liabilities
Non-interest-bearing deposits in U.S. offices	$	123,969	$	109,844	$	104,061	$	112,089	$	112,535	-	(9%)
Interest-bearing deposits in U.S. offices		587,477		590,700		569,428		576,784		570,259	(1%)	(3%)
Total U.S. deposits		711,446		700,544		673,489		688,873		682,794	(1%)	(4%)
Non-interest-bearing deposits in offices outside the U.S.		90,404		91,899		84,663		88,988		87,936	(1%)	(3%)
Interest-bearing deposits in offices outside the U.S.		528,609		527,424		515,354		530,820		536,433	1%	1%
Total international deposits		619,013		619,323		600,017		619,808		624,369	1%	1%

Total deposits		1,330,459		1,319,867		1,273,506		1,308,681		1,307,163	-	(2%)
Securities loaned and sold under repurchase agreements		257,681		260,035		256,770		278,107		299,387	8%	16%
Brokerage payables		76,708		69,433		75,076		63,539		73,013	15%	(5%)
Trading account liabilities		185,010		170,664		164,624		155,345		156,652	1%	(15%)
Short-term borrowings		40,187		40,430		43,166		37,457		31,910	(15%)	(21%)
Long-term debt		279,684		274,510		275,760		286,619		285,495	-	2%
Other liabilities, plus allowances⁽⁴⁾		76,365		79,314		69,380		75,835		71,492	(6%)	(6%)
Total liabilities	$	2,246,094	$	2,214,253	$	2,158,282	$	2,205,583	$	2,225,112	1%	(1%)

Equity
Stockholders' equity
Preferred stock	$	20,245	$	20,245	$	19,495	$	17,600	$	17,600	-	(13%)
Common stock		31		31		31		31		31	-	-
Additional paid-in capital		108,369		108,579		108,757		108,955		108,592	-	-
Retained earnings		198,353		199,976		202,135		198,905		200,956	1%	1%
Treasury stock, at cost		(73,262)		(74,247)		(74,738)		(75,238)		(74,865)	-	(2%)
Accumulated other comprehensive income (loss) (AOCI)		(45,441)		(45,865)		(46,177)		(44,800)		(45,729)	(2%)	(1%)
Total common equity	$	188,050	$	188,474	$	190,008	$	187,853	$	188,985	1%	-

Total Citigroup stockholders' equity	$	208,295	$	208,719	$	209,503	$	205,453	$	206,585	1%	(1%)
Noncontrolling interests		724		703		692		798		813	2%	12%
Total equity		209,019		209,422		210,195		206,251		207,398	1%	(1%)
Total liabilities and equity	$	2,455,113	$	2,423,675	$	2,368,477	$	2,411,834	$	2,432,510	1%	(1%)

(1)	March 31, 2024 is preliminary.

(2)	Consumer loans include loans managed by USPB, Wealth, and All Other—Legacy Franchises (other than Mexico small business and middle-market banking (Mexico SBMM) loans) that are included in Consumer loans.

(3)	Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Mexico SBMM that are included in Corporate loans.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 3

OPERATING SEGMENT, REPORTING UNIT, AND COMPONENT DETAILS

(In millions of dollars)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23
Revenues, net of interest expense

Services	$	4,394	$	4,555	$	4,636	$	4,517	$	4,766	6%	8%
Markets		5,790		4,816		4,771		3,388		5,378	59%	(7%)
Banking		1,151		1,140		1,347		954		1,714	80%	49%
U.S. Personal Banking		4,711		4,619		4,917		4,940		5,178	5%	10%
Wealth		1,766		1,799		1,855		1,671		1,695	1%	(4%)
All Other—managed basis⁽¹⁾⁽²⁾		2,617		2,513		2,217		2,032		2,385	17%	(9%)
Reconciling Items—divestiture-related impacts⁽³⁾		1,018		(6)		396		(62)		(12)	81%	NM

Total net revenues—reported	$	21,447	$	19,436	$	20,139	$	17,440	$	21,104	21%	(2%)

Income (loss) from continuing operations

Services	$	1,309	$	1,229	$	1,355	$	806	$	1,519	88%	16%
Markets		1,869		1,148		1,061		(143)		1,410	NM	(25%)
Banking		57		46		162		(324)		539	NM	NM
U.S. Personal Banking		402		461		756		201		347	73%	(14%)
Wealth		159		64		118		5		150	NM	(6%)
All Other—managed basis⁽¹⁾⁽²⁾		208		96		(81)		(2,241)		(463)	79%	NM
Reconciling Items—divestiture-related impacts⁽³⁾		648		(92)		214		(111)		(94)	15%	NM

Income (loss) from continuing operations—reported		4,652		2,952		3,585		(1,807)		3,408	NM	(27%)

Discontinued operations		(1)		(1)		2		(1)		(1)	-	-

Net income (loss) attributable to noncontrolling interests		45		36		41		31		36	16%	(20%)

Net income (loss)	$	4,606	$	2,915	$	3,546	$	(1,839)	$	3,371	NM	(27%)

(1)

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

(2)

Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned
divestiture of Mexico consumer banking, small business and middle-market banking within Legacy Franchises. See page 14 for additional information.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 4

SERVICES

(In millions of dollars, except as otherwise noted)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23
Net interest income (including dividends)	$	3,126	$	3,243	$	3,440	$	3,442	$	3,317	(4%)	6%
Fee revenue
Commissions and fees		741		787		782		815		797	(2%)	8%
Fiduciary and administrative and other		604		661		630		606		685	13%	13%
Total fee revenue		1,345		1,448		1,412		1,421		1,482	4%	10%
Principal transactions		226		242		267		271		248	(8%)	10%
All other⁽¹⁾		(303)		(378)		(483)		(617)		(281)	54%	7%
Total non-interest revenue		1,268		1,312		1,196		1,075		1,449	35%	14%
Total revenues, net of interest expense		4,394		4,555		4,636		4,517		4,766	6%	8%
Total operating expenses		2,409		2,506		2,520		2,596		2,666	3%	11%
Net credit losses (recoveries) on loans		6		13		27		(6)		6	NM	-
Credit reserve build (release) for loans		(72)		(14)		6		127		34	(73%)	NM
Provision (release) for credit losses on unfunded lending commitments		7		(26)		23		(22)		12	NM	71%
Provisions for credit losses for other assets and HTM debt securities		45		250		39		547		12	(98%)	(73%)
Provision for credit losses		(14)		223		95		646		64	(90%)	NM
Income from continuing operations before taxes		1,999		1,826		2,021		1,275		2,036	60%	2%
Income taxes		690		597		666		469		517	10%	(25%)
Income from continuing operations		1,309		1,229		1,355		806		1,519	88%	16%
Noncontrolling interests		13		16		16		21		25	19%	92%
Net income	$	1,296	$	1,213	$	1,339	$	785	$	1,494	90%	15%
EOP assets (in billions)	$	585	$	584	$	552	$	586	$	577	(2%)	(1%)
Average assets (in billions)		598		584		566		582		580	-	(3%)
Efficiency ratio		55%		55%		54%		57%		56%	(100) bps	100 bps
Average allocated TCE (in billions)⁽²⁾	$	23.0	$	23.0	$	23.0	$	23.0	$	24.9	8%	8%
RoTCE⁽²⁾		22.9%		21.2%		23.1%		13.5%		24.1%	1,060 bps	120 bps

Revenue by component
Net interest income	$	2,612	$	2,718	$	2,868	$	2,887	$	2,723	(6%)	4%
Non-interest revenue		727		702		645		557		793	42%	9%
Treasury and Trade Solutions (TTS)		3,339		3,420		3,513		3,444		3,516	2%	5%
Net interest income		514		525		572		555		594	7%	16%
Non-interest revenue		541		610		551		518		656	27%	21%
Securities Services		1,055		1,135		1,123		1,073		1,250	16%	18%
Total Services	$	4,394	$	4,555	$	4,636	$	4,517	$	4,766	6%	8%

Revenue by geography
North America	$	1,205	$	1,294	$	1,333	$	1,299	$	1,243	(4%)	3%
International		3,189		3,261		3,303		3,218		3,523	9%	10%
Total	$	4,394	$	4,555	$	4,636	$	4,517	$	4,766	6%	8%

Key drivers⁽³⁾ (in billions of dollars, except as otherwise noted)
Average loans by reporting unit
TTS	$	78	$	79	$	82	$	82	$	81	(1%)	4%
Securities Services		1		1		1		1		1	-	-
Total	$	79	$	80	$	83	$	83	$	82	(1%)	4%

ACLL as a % of EOP loans⁽⁴⁾		0.36%		0.32%		0.33%		0.47%		0.54%	7 bps	18 bps

Average deposits by reporting unit and selected component
TTS	$	705	$	689	$	677	$	681	$	684	-	(3%)
Securities Services		125		125		120		122		124	2%	(1%)
Total	$	830	$	814	$	797	$	803	$	808	1%	(3%)

AUC/AUA (in trillions of dollars)⁽⁵⁾⁽⁶⁾	$	21.6	$	22.3	$	21.5	$	23.5	$	24.0	2%	11%
Cross - border transaction value	$	83.0	$	87.8	$	87.8	$	99.4	$	90.7	(9%)	9%
U.S. dollar clearing volume (in millions)		38.3		38.8		40.0		40.2		39.6	(1%)	3%
Commercial card spend volumes	$	16.0	$	17.3	$	16.9	$	16.6	$	16.8	1%	5%

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

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

(3)	Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.

(4)	Excludes loans that are carried at fair value for all periods.

(5)	Reflects prior-period revisions for certain AUC North America accounts.

(6)	Preliminary.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 5

MARKETS

(In millions of dollars, except as otherwise noted)

											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23


Net interest income (including dividends)	$	1,562	$	2,009	$	1,700	$	1,994	$	1,713	(14%)	10%
Fee revenue
Brokerage and fees		385		331		337		328		336	2%	(13%)
Investment banking fees⁽¹⁾		89		97		103		103		95	(8%)	7%
Other⁽²⁾		40		32		32		46		62	35%	55%
Total fee revenue		514		460		472		477		493	3%	(4%)
Principal transactions		3,889		2,518		2,853		1,212		3,178	NM	(18%)
All other⁽³⁾		(175)		(171)		(254)		(295)		(6)	98%	97%
Total non-interest revenue		4,228		2,807		3,071		1,394		3,665	NM	(13%)
Total revenues, net of interest expense		5,790		4,816		4,771		3,388		5,378	59%	(7%)
Total operating expenses		3,162		3,337		3,302		3,433		3,380	(2%)	7%
Net credit losses (recoveries) on loans		4		2		(4)		30		78	NM	NM
Credit reserve build (release) for loans		64		(23)		119		41		120	NM	88%
Provision (release) for credit losses on unfunded lending commitments		(4)		(10)		5		12		(1)	NM	75%
Provisions for credit losses for other assets and HTM debt securities		19		12		43		126		3	(98%)	(84%)
Provision for credit losses		83		(19)		163		209		200	(4%)	NM
Income (loss) from continuing operations before taxes		2,545		1,498		1,306		(254)		1,798	NM	(29%)
Income taxes (benefits)		676		350		245		(111)		388	NM	(43%)
Income (loss) from continuing operations		1,869		1,148		1,061		(143)		1,410	NM	(25%)
Noncontrolling interests		21		19		15		12		15	25%	(29%)
Net income (loss)	$	1,848	$	1,129	$	1,046	$	(155)	$	1,395	NM	(25%)
EOP assets (in billions)	$	1,020	$	1,016	$	1,009	$	1,007	$	1,037	3%	2%
Average assets (in billions)		1,004		1,041		1,025		1,032		1,048	2%	4%
Efficiency ratio		55%		69%		69%		101%		63%	NM	800 bps
Average allocated TCE (in billions)⁽⁴⁾	$	53.1	$	53.1	$	53.1	$	53.1	$	54.0	2%	2%
RoTCE⁽⁴⁾		14.1%		8.5%		7.8%		(1.2%)		10.4%	NM	(370) bps

Revenue by component
Fixed Income markets	$	4,623	$	3,707	$	3,829	$	2,569	$	4,151	62%	(10%)
Equity markets		1,167		1,109		942		819		1,227	50%	5%
Total	$	5,790	$	4,816	$	4,771	$	3,388	$	5,378	59%	(7%)

Rates and currencies	$	3,551	$	2,758	$	2,748	$	1,736	$	2,799	61%	(21%)
Spread products / other fixed income		1,072		949		1,081		833		1,352	62%	26%
Total Fixed Income markets revenues	$	4,623	$	3,707	$	3,829	$	2,569	$	4,151	62%	(10%)

Revenue by geography
North America	$	2,062	$	1,720	$	1,924	$	1,249	$	2,087	67%	1%
International		3,728		3,096		2,847		2,139		3,291	54%	(12%)
Total	$	5,790	$	4,816	$	4,771	$	3,388	$	5,378	59%	(7%)


Key drivers⁽⁵⁾ (in billions of dollars)
Average loans	$	111	$	107	$	108	$	115	$	120	4%	8%
NCLs as a % of average loans		0.01%		0.01%		(0.01%)		0.10%		0.26%	16 bps	25 bps
ACLL as a % of EOP loans⁽⁶⁾		0.66%		0.67%		0.77%		0.71%		0.85%	14 bps	19 bps
Average trading account assets	$	350	$	382	$	393	$	392	$	408	4%	17%
Average deposits		23		23		23		23		24	4%	4%

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

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

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

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

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

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 6

BANKING

(In millions of dollars, except as otherwise noted)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Net interest income (including dividends)	$	500	$	529	$	547	$	542	$	574	6%	15%
Fee revenue
Investment banking fees⁽¹⁾		740		573		694		706		977	38%	32%
Other⁽²⁾		42		40		40		38		42	11%	-
Total fee revenue		782		613		734		744		1,019	37%	30%
Principal transactions		(335)		(216)		(164)		(223)		(227)	(2%)	32%
All other⁽³⁾		204		214		230		(109)		348	NM	71%
Total non-interest revenue		651		611		800		412		1,140	NM	75%
Total revenues, net of interest expense		1,151		1,140		1,347		954		1,714	80%	49%
Total operating expenses		1,236		1,264		1,229		1,165		1,184	2%	(4%)
Net credit losses on loans		12		57		29		71		66	(7%)	NM
Credit reserve build (release) for loans		(50)		(110)		(22)		(163)		(89)	45%	(78%)
Provision (release) for credit losses on unfunded lending commitments		(171)		(56)		(64)		(63)		(96)	(52%)	44%
Provisions for credit losses for other assets and HTM debt securities		86		(39)		1		339		(10)	NM	NM
Provision for credit losses		(123)		(148)		(56)		184		(129)	NM	(5%)
Income (loss) from continuing operations before taxes		38		24		174		(395)		659	NM	NM
Income taxes (benefits)		(19)		(22)		12		(71)		120	NM	NM
Income (loss) from continuing operations		57		46		162		(324)		539	NM	NM
Noncontrolling interests		2		1		1		-		3	NM	50%
Net income (loss)	$	55	$	45	$	161	$	(324)	$	536	NM	NM
EOP assets (in billions)	$	148	$	149	$	147	$	149	$	152	2%	3%
Average assets (in billions)		157		156		152		151		155	3%	(1%)
Efficiency ratio		107%		111%		91%		122%		69%	(5,300) bps	(3,800) bps
Average allocated TCE (in billions)⁽⁴⁾	$	21.4	$	21.4	$	21.4	$	21.4	$	21.8	2%	2%
RoTCE⁽⁴⁾		1.0%		0.8%		3.0%		(6.0%)		9.9%	NM	890 bps

Revenue by component
Total Investment Banking	$	667	$	494	$	685	$	664	$	903	36%	35%
Corporate Lending—excluding gain/(loss) on loan hedges⁽³⁾⁽⁵⁾		683		712		709		421		915	NM	34%
Total Banking revenues (ex-gain/(loss) on loan hedges)⁽³⁾⁽⁵⁾		1,350		1,206		1,394		1,085		1,818	68%	35%
Gain/(loss) on loan hedges⁽³⁾⁽⁵⁾		(199)		(66)		(47)		(131)		(104)	21%	48%
Total Banking revenues including gain/(loss) on loan hedges⁽³⁾⁽⁵⁾	$	1,151	$	1,140	$	1,347	$	954	$	1,714	80%	49%

Business metrics—investment banking fees
Advisory	$	276	$	156	$	299	$	286	$	230	(20%)	(17%)
Equity underwriting (Equity Capital Markets (ECM))		109		158		123		110		171	55%	57%
Debt underwriting (Debt Capital Markets (DCM))		355		259		272		310		576	86%	62%
Total	$	740	$	573	$	694	$	706	$	977	38%	32%

Revenue by geography
North America	$	370	$	430	$	597	$	378	$	751	99%	NM
International		781		710		750		576		963	67%	23%
Total	$	1,151	$	1,140	$	1,347	$	954	$	1,714	80%	49%

Key drivers⁽⁶⁾ (in billions of dollars)
Average loans	$	95	$	93	$	89	$	89	$	89	-	(6%)
NCLs as a % of average loans		0.05%		0.25%		0.13%		0.32%		0.30%	(2) bps	25 bps
ACLL as a % of EOP loans⁽⁷⁾		1.84%		1.74%		1.75%		1.59%		1.47%	(12) bps	(37) bps
Average deposits		1		1		1		1		1	-	-

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

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

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

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

(5)

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

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

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 7

U.S. PERSONAL BANKING
(In millions of dollars, except as otherwise noted)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Net interest income	$	4,854	$	4,883	$	5,175	$	5,238	$	5,226	-	8%
Fee revenue
Interchange fees		2,277		2,482		2,434		2,481		2,352	(5%)	3%
Card rewards and partner payments		(2,590)		(2,827)		(2,777)		(2,889)		(2,580)	11%	-
Other⁽¹⁾		104		72		75		98		105	7%	1%
Total fee revenue		(209)		(273)		(268)		(310)		(123)	60%	41%
All other⁽²⁾		66		9		10		12		75	NM	14%
Total non-interest revenue		(143)		(264)		(258)		(298)		(48)	84%	66%
Total revenues, net of interest expense		4,711		4,619		4,917		4,940		5,178	5%	10%

Total operating expenses		2,529		2,498		2,481		2,594		2,519	(3%)	-
Net credit losses on loans		1,074		1,218		1,343		1,599		1,864	17%	74%
Credit reserve build (release) for loans		576		303		114		471		337	(28%)	(41%)
Provision (release) for credit losses on unfunded lending commit.		-		1		(1)		1		-	(100%)	-
Provisions for benefits and claims (PBC), and other assets		(1)		3		3		3		3	-	NM
Provisions for credit losses and for PBC		1,649		1,525		1,459		2,074		2,204	6%	34%
Income from continuing operations before taxes		533		596		977		272		455	67%	(15%)
Income taxes		131		135		221		71		108	52%	(18%)
Income from continuing operations		402		461		756		201		347	73%	(14%)
Noncontrolling interests		-		-		-		-		-	-	-
Net income	$	402	$	461	$	756	$	201	$	347	73%	(14%)
EOP assets (in billions)	$	228	$	228	$	231	$	242	$	237	(2%)	4%
Average assets (in billions)		231		229		230		232		233	-	1%
Efficiency ratio		54%		54%		50%		53%		49%	(400) bps	(500) bps
Average allocated TCE (in billions)⁽³⁾	$	21.9	$	21.9	$	21.9	$	21.9	$	25.2	15%	15%
RoTCE⁽³⁾		7.4%		8.4%		13.7%		3.6%		5.5%	190 bps	(190) bps

Revenue by component
Branded Cards	$	2,472	$	2,357	$	2,539	$	2,620	$	2,640	1%	7%
Retail Services		1,610		1,643		1,728		1,636		1,900	16%	18%
Retail Banking		629		619		650		684		638	(7%)	1%
Total	$	4,711	$	4,619	$	4,917	$	4,940	$	5,178	5%	10%

Average loans and deposits⁽⁴⁾ (in billions)
Average loans	$	184	$	189	$	196	$	202	$	204	1%	11%
ACLL as a % of EOP loans⁽⁵⁾		6.62%		6.44%		6.36%		6.28%		6.58%	30 bps	(4) bps
Average deposits		111		113		110		105		100	(5%)	(10%)

(1)	Primarily related to retail banking and credit card-related fees.

(2)	Primarily related to revenue incentives from card networks and partners.

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

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

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 8

U.S. PERSONAL BANKING

Metrics


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

U.S. Personal Banking Key Indicators (in billions of dollars, except as otherwise noted)

New account acquisitions (in thousands)
Branded Cards		1,164		1,131		1,146		1,105		1,170	6%	1%
Retail Services		1,976		2,393		2,152		2,617		1,658	(37%)	(16%)
Credit card spend volumes
Branded Cards	$	115.9	$	126.8	$	125.2	$	129.5	$	120.9	(7%)	4%
Retail Services		20.8		24.8		23.3		26.0		20.0	(23%)	(4%)
Average loans⁽¹⁾
Branded Cards	$	96.8	$	99.8	$	103.2	$	106.6	$	107.5	1%	11%
Retail Services		48.8		49.0		50.2		51.6		51.7	-	6%
Retail Banking		38.0		40.3		42.2		43.9		45.0	3%	18%
EOP loans⁽¹⁾
Branded Cards	$	97.1	$	103.0	$	105.2	$	111.1	$	108.0	(3%)	11%
Retail Services		48.4		50.0		50.5		53.6		50.8	(5%)	5%
Retail Banking		39.2		41.5		43.1		44.4		45.6	3%	16%
Total revenues, net of interest expenses as a % of average loans
Branded Cards		10.36%		9.47%		9.76%		9.75%		9.88%
Retail Services		13.38%		13.45%		13.66%		12.58%		14.78%
NII as a % of average loans⁽²⁾
Branded Cards		9.36%		9.01%		9.12%		9.17%		9.30%
Retail Services		17.54%		17.44%		17.77%		16.99%		17.20%
NCLs as a % of average loans
Branded Cards		2.18%		2.47%		2.72%		3.06%		3.65%
Retail Services		4.08%		4.46%		4.53%		5.44%		6.32%
Retail Banking		0.66%		0.59%		0.59%		0.62%		0.69%
Loans 90+ days past due as a % of EOP loans
Branded Cards		0.78%		0.81%		0.92%		1.07%		1.19%
Retail Services		1.76%		1.77%		2.12%		2.36%		2.53%
Retail Banking⁽³⁾		0.42%		0.39%		0.38%		0.40%		0.35%
Loans 30-89 days past due as a % of EOP loans
Branded Cards		0.76%		0.81%		0.97%		1.03%		1.01%
Retail Services		1.66%		1.81%		2.13%		2.15%		2.18%
Retail Banking⁽³⁾		0.47%		0.57%		0.55%		0.62%		0.53%
Branches (actual)		653		653		652		647		645	-	(1%)
Mortgage originations	$	3.3	$	4.5	$	3.9	$	2.8	$	3.1	11%	(6%)

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

(2)	Net interest income includes certain fees that are recorded as interest revenue.

(3)	Excludes U.S. government-sponsored agency guaranteed loans.

Reclassified to conform to the current period’s presentation.

Page 9

WEALTH

(In millions of dollars, except as otherwise noted)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Net interest income	$	1,121	$	1,113	$	1,182	$	1,044	$	979	(6%)	(13%)
Fee revenue
Commissions and fees		305		307		302		297		344	16%	13%
Other⁽¹⁾		174		207		217		210		232	10%	33%
Total fee revenue		479		514		519		507		576	14%	20%
All other⁽²⁾		166		172		154		120		140	17%	(16)%
Total non-interest revenue		645		686		673		627		716	14%	11%
Total revenues, net of interest expense		1,766		1,799		1,855		1,671		1,695	1%	(4%)
Total operating expenses		1,626		1,660		1,711		1,647		1,668	1%	3%
Net credit losses on loans		20		23		24		31		29	(6%)	45%
Credit reserve build (release) for loans		(69)		30		(19)		(27)		(190)	NM	NM
Provision (release) for credit losses on unfunded lending commitments		(6)		1		(8)		1		(8)	NM	(33%)
Provisions for benefits and claims (PBC), and other assets		(3)		-		1		(1)		(1)	-	67%
Provisions for credit losses and for PBC		(58)		54		(2)		4		(170)	NM	NM
Income from continuing operations before taxes		198		85		146		20		197	NM	(1%)
Income taxes		39		21		28		15		47	NM	21%
Income from continuing operations		159		64		118		5		150	NM	(6%)
Noncontrolling interests		-		-		-		-		-	-	-
Net income	$	159	$	64	$	118	$	5	$	150	NM	(6%)
EOP assets (in billions)	$	258	$	241	$	236	$	232	$	230	(1%)	(11%)
Average assets (in billions)		261		251		240		234		238	2%	(9%)
Efficiency ratio		92%		92%		92%		99%		98%	(100)bps	600 bps
Average allocated TCE (in billions)⁽³⁾	$	13.4	$	13.4	$	13.4	$	13.4	$	13.2	(1%)	(1%)
RoTCE⁽³⁾		4.8%		1.9%		3.5%		0.1%		4.6%	450 bps	(20) bps

Revenue by component
Private Bank	$	568	$	605	$	617	$	542	$	571	5%	1%
Wealth at Work		193		224		234		211		181	(14%)	(6%)
Citigold		1,005		970		1,004		918		943	3%	(6%)
Total	$	1,766	$	1,799	$	1,855	$	1,671	$	1,695	1%	(4%)

Revenue by geography
North America	$	900	$	904	$	953	$	858	$	773	(10%)	(14%)
International		866		895		902		813		922	13%	6%
Total	$	1,766	$	1,799	$	1,855	$	1,671	$	1,695	1%	(4%)

Key drivers⁽⁴⁾ (in billions of dollars)

EOP client balances
Estimated Client investment assets⁽⁵⁾	$	459	$	470	$	471	$	498	$	515	3%	12%
Deposits		322		315		307		323		323	-	-
Loans		150		151		151		152		149	(2%)	(1%)
Total	$	931	$	936	$	929	$	973	$	987	1%	6%

ACLL as a % of EOP loans		0.52%		0.54%		0.53%		0.51%		0.39%	(12) bps	(13) bps

(1)	Primarily related to fiduciary and administrative fees.

(2)	Primarily related to principal transactions revenue including FX translation.

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

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

(5)	Includes assets under management, and trust and custody assets.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 10

ALL OTHER—MANAGED BASIS^(1)(2)(3)
(In millions of dollars, except as otherwise noted)

											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Net interest income	$	2,185	$	2,123	$	1,784	$	1,564	$	1,698	9%	(22%)
Non-interest revenue⁽⁴⁾⁽⁵⁾		432		390		433		468		687	47%	59%
Total revenues, net of interest expense		2,617		2,513		2,217		2,032		2,385	17%	(9%)
Total operating expenses^(6)(7)(8)		2,254		2,226		2,154		4,455		2,668	(40%)	18%
Net credit losses on loans		198		199		237		236		249	6%	26%
Credit reserve build (release) for loans		(17)		74		(21)		92		(93)	NM	NM
Provision (release) for credit losses on unfunded lending commitments		(21)		(5)		(9)		(10)		(5)	50%	76%
Provisions for benefits and claims, other assets and HTM debt securities		286		(67)		(9)		142		34	(76%)	(88%)
Provisions for credit losses and for benefits and claims (PBC)		446		201		198		460		185	(60%)	(59%)
Income (loss) from continuing operations before taxes		(83)		86		(135)		(2,883)		(468)	84%	NM
Income taxes (benefits)		(291)		(10)		(54)		(642)		(5)	99%	98%
Income (loss) from continuing operations		208		96		(81)		(2,241)		(463)	79%	NM
Income (loss) from discontinued operations, net of taxes		(1)		(1)		2		(1)		(1)	—	—
Noncontrolling interests		9		—		9		(2)		(7)	NM	NM
Net income (loss)	$	198	$	95	$	(88)	$	(2,240)	$	(457)	80%	NM
EOP assets (in billions)	$	216	$	206	$	193	$	196	$	200	2%	(7%)
Average assets (in billions)		211		205		201		196		196	—	(7%)
Efficiency ratio		86%		89%		97%		219%		112%	NM	NM
Average allocated TCE (in billions)⁽⁹⁾	$	28.3	$	31.3	$	32.5	$	32.4	$	25.6	(21%)	(10%)

Revenue by reporting unit and component
Mexico Consumer/SBMM	$	1,294	$	1,412	$	1,527	$	1,460	$	1,571	8%	21%
Asia Consumer		503		475		289		257		254	(1%)	(50%)
Legacy Holdings Assets		8		5		(9)		(9)		(11)	(22%)	NM
Corporate/Other		812		621		410		324		571	76%	(30%)
Total	$	2,617	$	2,513	$	2,217	$	2,032	$	2,385	17%	(9%)

Mexico Consumer/SBMM—key indicators (in billions of dollars)
EOP loans	$	22.0	$	23.9	$	24.0	$	25.2	$	26.0	3%	18%
EOP deposits		36.7		39.0		38.3		40.2		41.0	2%	12%
Average loans		20.8		22.6		24.0		23.9		25.0	5%	20%
NCLs as a % of average loans (Mexico Consumer Only)		2.89%		2.77%		3.17%		3.24%		3.72%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		1.24%		1.37%		1.32%		1.35%		1.32%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		1.26%		1.28%		1.33%		1.35%		1.33%

Asia Consumer—key indicators (in billions of dollars)
EOP loans	$	10.0	$	9.1	$	8.0	$	7.4	$	6.5	(12%)	(35%)
EOP deposits		14.4		12.2		10.8		9.5		9.0	(5%)	(38%)
Average loans		12.1		9.5		8.6		7.8		6.9	(12%)	(43%)

Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans	$	2.8	$	2.7	$	2.5	$	2.5	$	2.3	(8%)	(18%)

(1)

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

(2)

Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico consumer banking, small business and middle-market banking within Legacy Franchises. See page 14 for additional information.

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

(4)	See footnote 2 on page 14.

(5)	See footnote 4 on page 14.

(6)	See footnote 3 on page 14.

(7)	See footnote 5 on page 14.

(8)	See footnote 6 on page 14.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 11

ALL OTHER—MANAGED BASIS⁽¹⁾⁽²⁾

Legacy Franchises⁽³⁾

(In millions of dollars, except as otherwise noted)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Net interest income	$	1,236	$	1,288	$	1,245	$	1,164	$	1,268	9%	3%
Non-interest revenue⁽⁴⁾⁽⁵⁾		569		604		562		544		546	-	(4%)
Total revenues, net of interest expense		1,805		1,892		1,807		1,708		1,814	6%	-
Total operating expenses^(6)(7)(8)		1,661		1,682		1,653		1,614		1,588	(2%)	(4%)
Net credit losses on loans		198		199		237		236		249	6%	26%
Credit reserve build (release) for loans		(17)		74		(21)		92		(93)	NM	NM
Provision (release) for credit losses on unfunded lending commitments		(21)		(5)		(9)		(10)		(5)	50%	76%
Provisions for benefits and claims (PBC), other assets and HTM debt securities		175		46		(8)		153		36	(76%)	(79%)
Provisions for credit losses and for PBC		335		314		199		471		187	(60%)	(44%)
Income (loss) from continuing operations before taxes		(191)		(104)		(45)		(377)		39	NM	NM
Income taxes (benefits)		(160)		(64)		23		(113)		28	NM	NM
Income (loss) from continuing operations		(31)		(40)		(68)		(264)		11	NM	NM
Noncontrolling interests		2		3		2		1		2	100%	-
Net income (loss)	$	(33)	$	(43)	$	(70)	$	(265)	$	9	NM	NM
EOP assets (in billions)	$	90	$	88	$	75	$	75	$	78	4%	(13%)
Average assets (in billions)		93		88		81		76		76	-	(18%)
Efficiency ratio		92%		89%		91%		94%		88%	(600) bps	(400) bps
Allocated TCE (in billions)⁽⁹⁾	$	10.0	$	10.0	$	10.0	$	10.0	$	6.2	(38%)	(38%)

Revenue by reporting unit and component
Mexico Consumer/SBMM	$	1,294	$	1,412	$	1,527	$	1,460	$	1,571	8%	21%
Asia Consumer		503		475		289		257		254	(1%)	(50%)
Legacy Holdings Assets		8		5		(9)		(9)		(11)	(22%)	NM
Total	$	1,805	$	1,892	$	1,807	$	1,708	$	1,814	6%	-

Mexico Consumer/SBMM – key indicators (in billions of dollars)
EOP loans	$	22.0	$	23.9	$	24.0	$	25.2	$	26.0	3%	18%
EOP deposits		36.7		39.0		38.3		40.2		41.0	2%	12%
Average loans		20.8		22.6		24.0		23.9		25.0	5%	20%
NCLs as a % of average loans (Mexico Consumer Only)		2.89%		2.77%		3.17%		3.24%		3.72%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		1.24%		1.37%		1.32%		1.35%		1.32%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		1.26%		1.28%		1.33%		1.35%		1.33%

Asia Consumer - key indicators (in billions of dollars)
EOP loans	$	10.0	$	9.1	$	8.0	$	7.4	$	6.5	(12%)	(35%)
EOP deposits		14.4		12.2		10.8		9.5		9.0	(5%)	(38%)
Average loans		12.1		9.5		8.6		7.8		6.9	(12%)	(43%)

Legacy Holdings Assets - key indicators (in billions of dollars)
EOP loans	$	2.8	$	2.7	$	2.5	$	2.5	$	2.3	(8%)	(18%)

(1)

Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico consumer banking, small business and middle-market banking within Legacy Franchises. See page 14 for additional information.

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

(3)

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

(4)	See footnote 2 on page 14.

(5)	See footnote 4 on page 14.

(6)	See footnote 3 on page 14.

(7)	See footnote 5 on page 14.

(8)	See footnote 6 on page 14.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 12

ALL OTHER

Corporate/Other⁽¹⁾

(In millions of dollars, except as otherwise noted)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Net interest income	$	949	$	835	$	539	$	400	$	430	8%	(55%)
Non-interest revenue		(137)		(214)		(129)		(76)		141	NM	NM

Total revenues, net of interest expense		812		621		410		324		571	76%	(30%)

Total operating expenses		593		544		501		2,841		1,080	(62%)	82%
Provisions for other assets and HTM debt securities		111		(113)		(1)		(11)		(2)	82%	NM
Income (loss) from continuing operations before taxes		108		190		(90)		(2,506)		(507)	80%	NM
Income taxes (benefits)		(131)		54		(77)		(529)		(33)	94%	75%
Income (loss) from continuing operations		239		136		(13)		(1,977)		(474)	76%	NM
Income (loss) from discontinued operations, net of taxes		(1)		(1)		2		(1)		(1)	-	-
Noncontrolling interests		7		(3)		7		(3)		(9)	NM	NM
Net income (loss)	$	231	$	138	$	(18)	$	(1,975)	$	(466)	76%	NM

EOP assets (in billions)	$	126	$	118	$	118	$	121	$	122	1%	(3%)
Average allocated TCE (in billions)⁽²⁾		18.3		21.3		22.5		22.4		19.4	-	6%

(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.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 13

ALL OTHER

RECONCILING ITEMS⁽¹⁾

Divestiture-Related Impacts

(In millions of dollars, except as otherwise noted)

											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Net interest income	$	-	$	-	$	-	$	-	$	-	-	-
Non-interest revenue⁽²⁾⁽⁴⁾		1,018		(6)		396		(62)		(12)	81%	NM
Total revenues, net of interest expense		1,018		(6)		396		(62)		(12)	81%	NM
Total operating expenses^(3)(5)(6)		73		79		114		106		110	4%	51%
Net credit losses on loans		(12)		(8)		(19)		33		11	(67%)	NM
Credit reserve build (release) for loans		3		(3)		2		(63)		-	100%	(100%)
Provision (release) for credit losses on unfunded lending commitments		1		(1)		-		-		-	-	(100%)
Provisions for benefits and claims, other assets and HTM debt securities		-		-		-		-		-	-	-
Provisions for credit losses and for benefits and claims (PBC)		(8)		(12)		(17)		(30)		11	NM	NM
Income (loss) from continuing operations before taxes		953		(73)		299		(138)		(133)	4%	NM
Income taxes (benefits)		305		19		85		(27)		(39)	(44%)	NM
Income (loss) from continuing operations		648		(92)		214		(111)		(94)	15%	NM
Income (loss) from discontinued operations, net of taxes		-		-		-		-		-	-	-
Noncontrolling interests		-		-		-		-		-	-	-
Net income (loss)	$	648	$	(92)	$	214	$	(111)	$	(94)	15%	NM

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

(2)

1Q23 includes an approximate $1.059 billion gain on sale recorded in revenue (approximately $727 million after various taxes) related to Citi's sale of the India consumer banking business. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023.

(3)	2Q23 includes approximately $79 million in expenses (approximately $57 million after-tax), primarily related to separation costs in Mexico and severance costs in Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023.

(4)

3Q23 includes an approximate $403 million gain on sale recorded in revenue (approximately $284 million after various taxes) related to Citi's sale of the Taiwan consumer banking business. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023.

(5)	4Q23 includes approximately $106 million in operating expenses (approximately $75 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Annual Report on Form 10-K for the year ended December 31, 2023.

(6)	1Q24 includes approximately $110 million in operating expenses (approximately $77 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 14

AVERAGE BALANCES AND INTEREST RATES^{(1)(2)(3)(4)(5)}

Taxable Equivalent Basis


	Average Volumes						Interest						% Average Rate ⁽⁴⁾


(In millions of dollars), except as otherwise noted	1Q23		4Q23		1Q24⁽⁵⁾		1Q23		4Q23		1Q24⁽⁵⁾		1Q23		4Q23		1Q24⁽⁵⁾
Assets
Deposits with banks	$	328,141	$	251,723	$	251,928	$	3,031	$	2,513	$	2,647	3.75%		3.96%		4.23%
Securities borrowed and purchased under resale agreements⁽⁶⁾		368,049		357,058		358,699		5,174		8,096		7,822	5.70%		9.00%		8.77%
Trading account assets⁽⁷⁾		298,824		354,090		369,681		2,748		4,067		4,128	3.73%		4.56%		4.49%
Investments		516,524		516,272		516,121		4,159		4,993		4,857	3.27%		3.84%		3.78%
Consumer loans		363,669		380,430		381,800		8,624		9,669		9,798	9.62%		10.08%		10.32%
Corporate loans		290,068		294,242		296,955		4,687		5,832		5,759	6.55%		7.86%		7.80%
Total loans (net of unearned income)⁽⁸⁾		653,737		674,672		678,755		13,311		15,501		15,557	8.26%		9.12%		9.22%
Other interest-earning assets		87,758		76,483		75,001		1,016		1,230		1,235	4.70%		6.38%		6.62%
Total average interest-earning assets	$	2,253,033	$	2,230,298	$	2,250,185	$	29,439	$	36,400	$	36,246	5.30%		6.48%		6.48%

Liabilities
Deposits	$	1,147,176	$	1,124,798	$	1,132,197	$	7,708	$	10,235	$	10,411	2.72%		3.61%		3.70%
Securities loaned and sold under repurchase agreements⁽⁶⁾		223,708		288,144		310,540		3,566		6,830		6,966	6.46%		9.40%		9.02%
Trading account liabilities⁽⁷⁾		129,361		106,399		103,674		787		878		831	2.47%		3.27%		3.22%
Short-term borrowings and other interest-bearing liabilities		144,022		116,054		108,600		1,649		2,056		1,956	4.64%		7.03%		7.24%
Long-term debt⁽⁹⁾		170,533		165,349		168,628		2,337		2,556		2,552	5.56%		6.13%		6.09%
Total average interest-bearing liabilities	$	1,814,800	$	1,800,744	$	1,823,639	$	16,047	$	22,555	$	22,716	3.59%		4.97%		5.01%


Net interest income as a % of average interest-earning assets (NIM)⁽⁹⁾							$	13,392	$	13,845	$	13,530	2.41%		2.46%		2.42%

1Q24 increase (decrease) from:													1	bps	(4)	bps

(1)	Interest income and Net interest income include the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $44 million for 1Q23, $21 million for 4Q23 and $23 million for 1Q24.

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

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

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

(5)	1Q24 is preliminary.

(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).

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

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

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

Reclassified to conform to the current period's presentation.

Page 15

EOP LOANS⁽¹⁾⁽²⁾

(In billions of dollars)

											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Corporate loans by region
North America	$	125.1	$	121.7	$	123.0	$	128.9	$	122.9	(5%)	(2%)
International		163.2		164.3		165.6		171.3		169.9	(1%)	4%
Total corporate loans	$	288.3	$	286.0	$	288.6	$	300.2	$	292.8	(2%)	2%

Corporate loans by segment and reporting unit
Services	$	80.1	$	83.6	$	83.5	$	84.7	$	80.5	(5%)	-
Markets		111.4		107.1		112.1		122.2		118.6	(3%)	6%
Banking		91.1		89.2		86.8		86.8		87.3	1%	(4%)
All Other - Legacy Franchises - Mexico SBMM		5.7		6.1		6.2		6.5		6.4	(2%)	12%
Total corporate loans	$	288.3	$	286.0	$	288.6	$	300.2	$	292.8	(2%)	2%

USPB
Branded Cards	$	97.1	$	103.0	$	105.2	$	111.1	$	108.0	(3%)	11%
Retail Services		48.4		50.0		50.5		53.6		50.8	(5%)	5%
Retail Banking		39.2		41.5		43.1		44.4		45.6	3%	16%
Total	$	184.7	$	194.5	$	198.8	$	209.1	$	204.4	(2%)	11%

Wealth by region
North America	$	98.9	$	99.5	$	101.1	$	101.6	$	100.0	(2%)	1%
International		51.0		51.0		49.5		49.9		49.0	(2%)	(4%)
Total	$	149.9	$	150.5	$	150.6	$	151.5	$	149.0	(2%)	(1%)

All Other - Consumer
Mexico Consumer	$	16.3	$	17.8	$	17.8	$	18.7	$	19.6	5%	20%
Asia Consumer⁽³⁾		10.0		9.1		8.0		7.4		6.5	(12%)	(35%)
Legacy Holdings Assets		2.8		2.7		2.5		2.5		2.3	(8%)	(18%)
Total	$	29.1	$	29.6	$	28.3	$	28.6	$	28.4	(1%)	(2%)

Total consumer loans	$	363.7	$	374.6	$	377.7	$	389.2	$	381.8	(2%)	5%

Total loans - EOP	$	652.0	$	660.6	$	666.3	$	689.4	$	674.6	(2%)	3%

Total loans - average	$	653.7	$	653.6	$	662.3	$	674.7	$	678.8	1%	4%

NCLs as a % of total average loans		0.81%		0.92%		0.98%		1.17%		1.36%	19 bps	55 bps

(1)	Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Mexico SBMM that are included in Corporate loans.

(2)	Consumer loans include loans managed by USPB, Wealth, and All Other—Legacy Franchises (other than Mexico small business and middle-market banking (Mexico SBMM) loans) that are included in Consumer loans.

(3)	Asia Consumer also includes loans in Poland and Russia.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 16

EOP DEPOSITS

(In billions of dollars)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23
Services, Markets, and Banking by region
North America	$	394.7	$	393.3	$	371.6	$	371.1	$	375.7	1%	(5%)
International		426.1		426.5		412.3		431.8		436.0	1%	2%
Total	$	820.8	$	819.8	$	783.9	$	802.9	$	811.7	1%	(1%)

Treasury and Trade Solutions	$	672.5	$	673.2	$	644.8	$	661.5	$	662.1	-	(2%)
Securities Services		124.2		124.4		113.7		119.9		125.3	5%	1%
Services	$	796.7	$	797.6	$	758.5	$	781.4	$	787.4	1%	(1%)
Markets		22.8		21.3		24.5		20.8		23.6	13%	4%
Banking		1.3		0.9		0.9		0.7		0.7	-	(46%)
Total	$	820.8	$	819.8	$	783.9	$	802.9	$	811.7	1%	(1%)

USPB	$	114.7	$	112.3	$	108.9	$	103.2	$	99.6	(3%)	(13%)

Wealth
North America	$	192.6	$	184.7	$	183.8	$	196.2	$	196.0	-	2%
International		129.6		129.8		123.6		126.5		127.2	1%	(2%)
Total	$	322.2	$	314.5	$	307.4	$	322.7	$	323.2	-	-

All Other
Legacy Franchises
Mexico Consumer	$	29.1	$	30.6	$	29.6	$	31.9	$	31.8	-	9%
Mexico SBMM—corporate		7.6		8.4		8.7		8.3		9.2	11%	21%
Asia Consumer⁽¹⁾		14.4		12.2		10.8		9.5		9.0	(5%)	(38%)
Legacy Holdings Assets		-		-		-		-		-	-	-
Corporate/Other		21.7		22.1		24.2		30.2		22.7	(25%)	5%
Total	$	72.8	$	73.3	$	73.3	$	79.9	$	72.7	(9%)	-

Total deposits - EOP	$	1,330.5	$	1,319.9	$	1,273.5	$	1,308.7	$	1,307.2	-	(2%)

Total deposits - average	$	1,363.2	$	1,338.2	$	1,315.1	$	1,319.7	$	1,326.4	1%	(3%)

(1)	Asia Consumer also includes deposits of Poland and Russia.

NMNot meaningful.

Reclassified to conform to the current period's presentation.

Page 17

ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD

(In millions of dollars, except ratios)


																	Builds						ACLL/EOP
	Balance		Builds (Releases)										FY 2023		Balance		(Releases)		1Q24		Balance		Loans
	12/31/22		1Q23		2Q23		3Q23		4Q23		FY 2023		FX/Other⁽¹⁾		12/31/23		1Q24		FX/Other		3/31/24		3/31/24

Allowance for credit losses on loans (ACLL)
Services	$	356	$	(72)	$	(14)	$	6	$	127	$	47	$	(6)	$	397	$	34	$	-	$	431
Markets		633		64		(23)		119		41		201		(15)		819		120		1		940
Banking		1,746		(50)		(110)		(22)		(163)		(345)		(24)		1,377		(89)		(3)		1,285
Legacy Franchises corporate (Mexico SBMM)		120		(27)		(5)		(1)		1		(32)		33		121		(8)		3		116

Total corporate ACLL	$	2,855	$	(85)	$	(152)	$	102	$	6	$	(129)	$	(12)	$	2,714	$	57	$	1	$	2,772	0.97%
U.S. Cards	$	11,393	$	536	$	276	$	128	$	466	$	1,406	$	(173)	$	12,626	$	326	$	(1)	$	12,951	8.16%
Retail Banking		447		40		27		(14)		5		58		(29)		476		11		-		487
Total USPB	$	11,840	$	576	$	303	$	114	$	471	$	1,464	$	(202)	$	13,102	$	337	$	(1)	$	13,438
Wealth		883		(69)		30		(19)		(27)		(85)		(30)		768		(190)		(2)		576
All Other—consumer		1,396		13		76		(18)		28		99		66		1,561		(85)		34		1,510
Total consumer ACLL	$	14,119	$	520	$	409	$	77	$	472	$	1,478	$	(166)	$	15,431	$	62	$	31	$	15,524	4.07%

Total ACLL	$	16,974	$	435	$	257	$	179	$	478	$	1,349	$	(178)	$	18,145	$	119	$	32	$	18,296	2.75%
Allowance for credit losses on unfunded lending commitments (ACLUC)	$	2,151	$	(194)	$	(96)	$	(54)	$	(81)	$	(425)	$	2	$	1,728	$	(98)	$	(1)	$	1,629
Total ACLL and ACLUC (EOP)		19,125														19,873						19,925
Other⁽²⁾		243		408		145		53		1,132		1,738		(98)		1,883		14		(69)		1,828
Total allowance for credit losses (ACL)	$	19,368	$	649	$	306	$	178	$	1,529	$	2,662	$	(274)	$	21,756	$	35	$	(38)	$	21,753

(1)	Includes the January 1, 2023 opening adjustment related to the adoption of ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326): TDRs and Vintage Disclosures. See page 19.

(2)	Includes ACL activity on HTM securities and Other assets.

Reclassified to conform to the current period's presentation.

Page 18

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

Page 1

(In millions of dollars)


											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23
Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	$	16,974	$	17,169	$	17,496	$	17,629	$	18,145	3%	7%
Adjustment to opening balance
Financial instruments—TDRs and Vintage Disclosures⁽¹⁾		(352)		-		-		-		-
Adjusted ACLL at beginning of period		16,622		17,169		17,496		17,629		18,145	3%	9%
Gross credit (losses) on loans		(1,634)		(1,879)		(2,000)		(2,368)		(2,690)	(14%)	(65%)
Gross recoveries on loans		332		375		363		374		387	3%	17%
Net credit (losses) / recoveries on loans (NCLs)		(1,302)		(1,504)		(1,637)		(1,994)		(2,303)	15%	77%
Replenishment of NCLs		1,302		1,504		1,637		1,994		2,303	15%	77%
Net reserve builds / (releases) for loans		435		257		179		478		119	(75%)	(73%)
Provision for credit losses on loans (PCLL)		1,737		1,761		1,816		2,472		2,422	(2%)	39%
Other, net^{(2)(3)(4)(5)(6)(7)}		112		70		(46)		38		32	(16%)	(71%)
ACLL at end of period (a)	$	17,169	$	17,496	$	17,629	$	18,145	$	18,296	1%	7%

Allowance for credit losses on unfunded lending commitments (ACLUC)⁽⁸⁾ (a)	$	1,959	$	1,862	$	1,806	$	1,728	$	1,629	(6%)	(17%)

Provision (release) for credit losses on unfunded lending commitments	$	(194)	$	(96)	$	(54)	$	(81)	$	(98)	(21%)	49%

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	$	19,128	$	19,358	$	19,435	$	19,873	$	19,925	-	4%

Total ACLL as a percentage of total loans⁽⁹⁾		2.65%		2.67%		2.68%		2.66%		2.75%	9 bps	10 bps

Consumer
ACLL at beginning of period	$	14,119	$	14,389	$	14,866	$	14,912	$	15,431	3%	9%
Adjustments to opening balance
Financial instruments—TDRs and Vintage Disclosures⁽¹⁾		(352)		-		-		-		-
Adjusted ACLL at beginning of period		13,767		14,389		14,866		14,912		15,431	3%	12%

NCLs		(1,280)		(1,429)		(1,579)		(1,899)		(2,139)	13%	67%
Replenishment of NCLs		1,280		1,429		1,579		1,899		2,139	13%	67%
Net reserve builds / (releases) for loans		520		409		77		472		62	(87%)	(88%)
Provision for credit losses on loans (PCLL)		1,800		1,838		1,656		2,371		2,201	(7%)	22%
Other, net^{(2)(3)(4)(5)(6)(7)}		102		68		(31)		47		31	(34%)	(70%)
ACLL at end of period (b)	$	14,389	$	14,866	$	14,912	$	15,431	$	15,524	1%	8%

Consumer ACLUC⁽⁸⁾ (b)	$	101	$	88	$	65	$	62	$	46	(26%)	(54%)

Provision (release) for credit losses on unfunded lending commitments	$	(17)	$	(4)	$	(20)	$	(5)	$	(15)	NM	12%

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	$	14,490	$	14,954	$	14,977	$	15,493	$	15,570	-	7%

Consumer ACLL as a percentage of total consumer loans		3.96%		3.97%		3.95%		3.97%		4.07%	10 bps	11 bps

Corporate
ACLL at beginning of period	$	2,855	$	2,780	$	2,630	$	2,717	$	2,714	-	(5%)

NCLs		(22)		(75)		(58)		(95)		(164)	73%	NM
Replenishment of NCLs		22		75		58		95		164	73%	NM
Net reserve builds / (releases) for loans		(85)		(152)		102		6		57	NM	NM
Provision for credit losses on loans (PCLL)		(63)		(77)		160		101		221	NM	NM
Other, net⁽²⁾		10		2		(15)		(9)		1	NM	(90%)
ACLL at end of period (c)	$	2,780	$	2,630	$	2,717	$	2,714	$	2,772	2%	-

Corporate ACLUC⁽⁸⁾ (c)	$	1,858	$	1,774	$	1,741	$	1,666	$	1,583	(5%)	(15%)

Provision (release) for credit losses on unfunded lending commitments	$	(177)	$	(92)	$	(34)	$	(76)	$	(83)	(9%)	53%

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	$	4,638	$	4,404	$	4,458	$	4,380	$	4,355	(1%)	(6%)

Corporate ACLL as a percentage of total corporate loans⁽⁹⁾		0.98%		0.94%		0.97%		0.93%		0.97%	4 bps	(1) bps

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

Page 19

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

Page 2

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

(1)	Includes the January 1, 2023 opening adjustment related to the adoption of ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): TDRs and Vintage Disclosures. See page 19.

(2)	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.

(3)	4Q22 primarily relates to FX translation.

(4)	1Q23 primarily relates to FX translation.

(5)	2Q23 primarily relates to FX translation.

(6)	3Q23 primarily relates to FX translation.

(7)	4Q23 primarily relates to FX translation.

(8)	Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.

(9)	Excludes loans that are carried at fair value of $5.1 billion, $5.8 billion, $7.4 billion $7.6 billion, and $8.8 billion at March 31, 2023, June 30, 2023, September 30, 2023, December 31, 2023, and March 31, 2024, respectively.

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 20

NON-ACCRUAL ASSETS

(In millions of dollars)

											1Q24 Increase/
	1Q		2Q		3Q		4Q		1Q		(Decrease) from
	2023		2023		2023		2023		2024		4Q23	1Q23

Corporate non-accrual loans by region⁽¹⁾
North America	$	285	$	358	$	934	$	978	$	874	(11%)	NM
International		928		903		1,041		904		615	(32%)	(34%)
Total	$	1,213	$	1,261	$	1,975	$	1,882	$	1,489	(21%)	23%

Corporate non-accrual loans by segment and component⁽¹⁾
Banking	$	833	$	798	$	953	$	799	$	606	(24%)	(27%)
Services		133		123		94		103		27	(74%)	(80%)
Markets		38		133		735		791		686	(13%)	NM
Mexico SBMM		209		207		193		189		170	(10%)	(19%)
Total	$	1,213	$	1,261	$	1,975	$	1,882	$	1,489	(21%)	23%

Consumer non-accrual loans⁽¹⁾
USPB	$	287	$	276	$	280	$	291	$	290	-	1%
Wealth		321		260		287		288		276	(4%)	(14%)
Mexico Consumer		480		498		463		479		465	(3%)	(3%)
Asia Consumer⁽²⁾		29		24		25		22		23	5%	(21%)
Legacy Holdings Assets - Consumer		278		263		247		235		227	(3%)	(18%)
Total	$	1,395	$	1,321	$	1,302	$	1,315	$	1,281	(3%)	(8%)

Total non-accrual loans (NAL)	$	2,608	$	2,582	$	3,277	$	3,197	$	2,770	(13%)	6%

Other real estate owned (OREO)⁽³⁾	$	21	$	31	$	37	$	36	$	26	(28%)	24%

NAL as a percentage of total loans		0.40%		0.39%		0.49%		0.46%		0.41%	(5) bps	1 bps

ACLL as a percentage of NAL		658%		678%		538%		568%		661%

(1)

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

(2)	Asia Consumer also includes Non-accrual assets of Poland and Russia.

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

NM Not meaningful.

Reclassified to conform to the current period's presentation.

Page 21

COMMON EQUITY TIER 1 (CET1) CAPITAL AND SUPPLEMENTARY LEVERAGE RATIOS,

TANGIBLE COMMON EQUITY, COMMON EQUITY, BOOK VALUE

PER SHARE AND TANGIBLE BOOK VALUE PER SHARE (TBVPS)

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


	March 31,		June 30,		September 30,		December 31,		March 31,
CET1 Capital and Ratio and Components ⁽¹⁾	2023		2023		2023		2023		2024⁽²⁾
Citigroup common stockholders' equity ⁽³⁾	$	188,186	$	188,610	$	190,134	$	187,937	$	189,059
Add: qualifying noncontrolling interests		207		209		193		153		159
Regulatory capital adjustments and deductions:
Add:
CECL transition provision ⁽⁴⁾		1,514		1,514		1,514		1,514		757
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax		(2,161)		(1,990)		(1,259)		(1,406)		(914)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax		1,037		307		625		(410)		(1,031)
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)⁽⁵⁾		18,844		18,933		18,552		18,778		18,647
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs		3,607		3,531		3,444		3,349		3,258
Defined benefit pension plan net assets; other		1,999		2,020		1,340		1,317		1,386
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards⁽⁶⁾		11,783		11,461		11,219		12,075		11,936
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs⁽⁶⁾⁽⁸⁾		1,045		1,828		1,786		2,306		3,551
CET1 Capital	$	153,753	$	154,243	$	156,134	$	153,595	$	153,142
Risk-Weighted Assets (RWA)⁽⁴⁾	$	1,144,359	$	1,153,450	$	1,148,550	$	1,148,608	$	1,137,050
CET1 Capital ratio (CET1/RWA)		13.44%		13.37%		13.59%		13.37%		13.5%

Supplementary Leverage Ratio and Components
CET1⁽⁴⁾	$	153,753	$	154,243	$	156,134	$	153,595	$	153,142
Additional Tier 1 Capital (AT1)⁽⁷⁾		21,496		21,500		20,744		18,909		18,923
Total Tier 1 Capital (T1C) (CET1 + AT1)	$	175,249	$	175,743	$	176,878	$	172,504	$	172,065
Total Leverage Exposure (TLE)⁽⁴⁾	$	2,939,744	$	2,943,546	$	2,927,392	$	2,964,954	$	2,949,960
Supplementary Leverage ratio (T1C/TLE)		5.96%		5.97%		6.04%		5.82%		5.8%


Tangible Common Equity, Book Value and Tangible Book Value Per Share
Common stockholders' equity	$	188,050	$	188,474	$	190,008	$	187,853	$	188,985
Less:
Goodwill		19,882		19,998		19,829		20,098		20,042
Intangible assets (other than MSRs)		3,974		3,895		3,811		3,730		3,636
Goodwill and identifiable intangible assets (other than MSRs) related to assets HFS		246		246		49		-		-
Tangible common equity (TCE)⁽⁹⁾	$	163,948	$	164,335	$	166,319	$	164,025	$	165,307
Common shares outstanding (CSO)		1,946.8		1,925.7		1,913.9		1,903.1		1,907.4
Book value per share (common equity/CSO)	$	96.59	$	97.87	$	99.28	$	98.71	$	99.08
Tangible book value per share (TCE/CSO)⁽⁹⁾	$	84.21	$	85.34	$	86.90	$	86.19	$	86.67

Average TCE (in billions of dollars)⁽⁹⁾
Services	$	23.0	$	23.0	$	23.0	$	23.0	$	24.9
Markets		53.1		53.1		53.1		53.1		54.0
Banking		21.4		21.4		21.4		21.4		21.8
USPB		21.9		21.9		21.9		21.9		25.2
Wealth		13.4		13.4		13.4		13.4		13.2
All Other		28.3		31.3		32.5		32.4		25.6
Total Citi average TCE	$	161.1	$	164.1	$	165.3	$	165.2	$	164.7

Plus:
Average goodwill	$	18.7	$	20.0	$	19.9	$	20.4	$	19.6
Average intangible assets (other than MSRs)		3.9		3.9		3.9		3.8		3.7
Average goodwill and identifiable intangible assets (other than MSRs) related to assets HFS		0.4		0.2		0.1		-		-
Total Citi average common stockholders' equity (in billions of dollars)	$	184.1	$	188.2	$	189.2	$	189.4	$	188.0

(1)	See footnote 7 on page 1.

(2)	March 31, 2024 is preliminary.

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

(4)	See footnote 8 on page 1.

(5)	Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.

(6)

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

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

(8)

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

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

Reclassified to conform to the current period's presentation.

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