CITIGROUP FINANCIAL SUMMARY

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

																	4Q25 Increase/			Full			Full			FY 2025 vs.
		4Q			1Q			2Q			3Q			4Q			(Decrease) from			Year			Year			FY 2024 Increase/
		2024			2025			2025			2025			2025			3Q25		4Q24	2024			2025			(Decrease)

Revenues, net of interest expense⁽¹⁾		$	19,465		$	21,596		$	21,668		$	22,090		$	19,871		(10%)		2%	$	80,722		$	85,225		6%
Operating expenses			13,070			13,425			13,577			14,290			13,840		(3%)		6%		53,567			55,132		3%
Net credit losses (NCLs)			2,242			2,459			2,234			2,214			2,190		(1%)		(2%)		9,000			9,097		1%
Credit reserve build (release) for loans			321			102			243			45			10		(78%)		(97%)		726			400		(45%)
Provision / (release) for unfunded lending commitments			(118)			108			(19)			100			13		(87%)		NM		(119)			202		NM
Provisions for benefits and claims, other assets and HTM debt securities			148			54			414			91			7		(92%)		(95%)		502			566		13%
Provisions for credit losses and for benefits and claims			2,593			2,723			2,872			2,450			2,220		(9%)		(14%)		10,109			10,265		2%
Income (loss) from continuing operations before income taxes			3,802			5,448			5,219			5,350			3,811		(29%)		-		17,046			19,828		16%
Income taxes (benefits)			912			1,340			1,186			1,559			1,288		(17%)		41%		4,211			5,373		28%
Income (loss) from continuing operations			2,890			4,108			4,033			3,791			2,523		(33%)		(13%)		12,835			14,455		13%
Income (loss) from discontinued operations, net of taxes			-			(1)			-			(1)			(1)		-		NM		(2)			(3)		(50%)
Net income (loss) before noncontrolling interests			2,890			4,107			4,033			3,790			2,522		(33%)		(13%)		12,833			14,452		13%
Net income (loss) attributable to noncontrolling interests			34			43			14			38			51		34%		50%		151			146		(3%)
Citigroup’s net income (loss)		$	2,856		$	4,064		$	4,019		$	3,752		$	2,471		(34%)		(13%)	$	12,682		$	14,306		13%

Diluted earnings per share:
Income (loss) from continuing operations		$	1.34		$	1.96		$	1.96		$	1.86		$	1.19		(36%)		(11%)	$	5.95		$	6.99		17%
Net income (loss)		$	1.34		$	1.96		$	1.96		$	1.86		$	1.19		(36%)		(11%)	$	5.94		$	6.99		18%

Preferred dividends		$	256		$	269		$	287		$	274		$	284		4%		11%	$	1,054		$	1,114		6%

Income allocated to unrestricted common shareholders—basic
Income (loss) from continuing operations (for EPS purposes)			2,563			3,752			3,683			3,439			2,150		(37%)		(16%)		11,460			13,024		14%
Net income (loss) (for EPS purposes)			2,563			3,751			3,683			3,438			2,149		(37%)		(16%)		11,458			13,021		14%

Income allocated to unrestricted common shareholders—diluted
Income (loss) from continuing operations (for EPS purposes)			2,583			3,769			3,702			3,459			2,170		(37%)		(16%)		11,534			13,100		14%
Net income (loss) (for EPS purposes)			2,583			3,768			3,702			3,458			2,169		(37%)		(16%)		11,532			13,097		14%

Shares (in millions):
Average basic			1,887.6			1,879.0			1,855.9			1,820.3			1,772.8		(3%)		(6%)		1,901.4			1,832.0		(4%)
Average diluted			1,931.0			1,919.6			1,893.1			1,862.6			1,816.9		(2%)		(6%)		1,940.1			1,873.1		(3%)
Common shares outstanding, at period end			1,877.1			1,867.7			1,840.9			1,789.3			1,747.5		(2%)		(7%)


Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio^(2)(3)(4)			13.63%			13.41%			13.48%			13.27%			13.2%
Tier 1 Capital ratio^(2)(3)(4)			15.31%			15.10%			14.98%			14.97%			13.7%
Total Capital ratio^(2)(3)(4)			15.42%			15.41%			15.28%			15.31%			15.7%
Supplementary Leverage ratio (SLR)^(2)(4)(5)			5.85%			5.79%			5.53%			5.52%			5.5%
Return on average assets			0.46%			0.65%			0.61%			0.55%			0.36%		(19) bps		(10) bps		0.51%			0.54%		3 bps
Return on average common equity(RoCE)			5.4%			8.0%			7.7%			7.1%			4.5%		(260) bps		(90) bps		6.1%			6.8%		70 bps
Average tangible common equity (TCE) (in billions of dollars)⁽⁶⁾		$	168.6		$	169.3		$	172.1		$	172.3		$	170.4		(1%)		1%	$	166.7		$	170.6		2%
Return on tangible common equity(RoTCE)⁽⁶⁾			6.1%			9.1%			8.7%			8.0%			5.1%		(290) bps		(100) bps		7.0%			7.7%		70 bps
Operating leverage⁽⁷⁾			3,002 bps			759 bps			567 bps			59 bps			(381) bps		(440) bps		(3,383) bps		770 bps			266 bps		(504) bps
Efficiency ratio (total operating expenses/total revenues, net)			67.1%			62.2%			62.7%			64.7%			69.6%		490 bps		250 bps		66.4%			64.7%		(170) bps

Balance sheet data (in billions of dollars, except per share amounts)⁽²⁾:
Total assets		$	2,352.9		$	2,571.5		$	2,622.8		$	2,642.5		$	2,657.2		1%		13%
Total average assets			2,474.8			2,517.1			2,647.8			2,688.8			2,722.5		1%		10%		2,468.4			2,644.1		7%
Total loans			694.5			702.1			725.3			733.9			752.2		2%		8%
Total deposits			1,284.5			1,316.4			1,357.7			1,383.9			1,403.6		1%		9%
Citigroup’s stockholders’ equity			208.6			212.4			213.2			213.0			212.3		-		2%
Book value per share			101.62			103.90			106.94			108.41			110.01		1%		8%
Tangible book value per share⁽⁶⁾			89.34			91.52			94.16			95.72			97.06		1%		9%

Direct staff (in thousands)			229			229			230			227			226		-		(1%)

(1)

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

(2)	4Q25 is preliminary.

(3)

Citi’s binding CET1 Capital ratio was derived under the Basel III Standardized Approach, whereas Citi’s binding Tier 1 Capital and Total Capital ratios were derived under the Basel III Advanced Approaches framework for December 31, 2025. In prior quarters, the binding Tier 1 Capital ratios were derived under the Basel III Standardized Approach For the composition of Citi’s CET1 Capital and ratio, see page 22.

(4)

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

(5)	For the composition of Citi’s SLR, see page 22.

(6)	TCE, RoTCE and Tangible book value per share are non-GAAP financial measures. See page 23 for a reconciliation of Tangible book value per share and Citi’s average TCE to Citi’s total average stockholders’ equity.

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

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

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 1

CITIGROUP CONSOLIDATED STATEMENT OF INCOME

(In millions of dollars)

																	4Q25 Increase/			Full		Full			FY 2025 vs.
		4Q			1Q			2Q			3Q			4Q			(Decrease) from			Year		Year			FY 2024 Increase/
		2024			2025			2025			2025			2025			3Q25		4Q24	2024		2025			(Decrease)
Revenues
Interest income (including dividends)		$	35,047		$	33,666		$	35,859		$	36,690		$	36,649		-		5%	$	143,713	$	142,864		(1%)
Interest expense			21,314			19,654			20,684			21,750			20,984		(4%)		(2%)		89,618		83,072		(7%)
Net interest income (NII)			13,733			14,012			15,175			14,940			15,665		5%		14%		54,095		59,792		11%

Commissions and fees⁽¹⁾			2,456			2,707			2,745			2,888			2,829		(2%)		15%		10,236		11,169		9%
Principal transactions⁽²⁾			2,453			3,510			2,503			2,772			1,450		(48%)		(41%)		11,109		10,235		(8%)
Administration and other fiduciary fees			992			1,045			1,123			1,117			1,129		1%		14%		4,134		4,414		7%
Realized gains (losses) on sales of investments, net			118			121			138			105			107		2%		(9%)		328		471		44%
Net impairment losses on investments recognized in earnings			(338)			(58)			(35)			(25)			(234)		NM		31%		(430)		(352)		18%
Other revenue (loss)⁽²⁾			51			259			19			293			(1,075)		NM		NM		1,250		(504)		NM
Total non-interest revenues (NIR)			5,732			7,584			6,493			7,150			4,206		(41%)		(27%)		26,627		25,433		(4%)
Total revenues, net of interest expense⁽¹⁾			19,465			21,596			21,668			22,090			19,871		(10%)		2%		80,722		85,225		6%

Provisions for credit losses and for benefits and claims
Net credit losses on loans			2,242			2,459			2,234			2,214			2,190		(1%)		(2%)		9,000		9,097		1%
Credit reserve build / (release) for loans			321			102			243			45			10		(78%)		(97%)		726		400		(45%)
Provision for credit losses on loans			2,563			2,561			2,477			2,259			2,200		(3%)		(14%)		9,726		9,497		(2%)
Provision for credit losses on held-to-maturity (HTM) debt securities			(5)			(5)			7			(5)			15		NM		NM		50		12		(76%)
Provision for credit losses on other assets			136			39			381			79			(32)		NM		NM		362		467		29%
Policyholder benefits and claims			17			20			26			17			24		41%		41%		90		87		(3%)
Provision for credit losses on unfunded lending commitments			(118)			108			(19)			100			13		(87%)		NM		(119)		202		NM
Total provisions for credit losses and for benefits and claims			2,593			2,723			2,872			2,450			2,220		(9%)		(14%)		10,109		10,265		2%

Operating expenses
Compensation and benefits			6,923			7,464			7,633			7,474			7,068		(5%)		2%		28,542		29,639		4%
Technology / communication			2,278			2,379			2,290			2,325			2,429		4%		7%		9,035		9,423		4%
Transactional and product servicing			1,102			1,102			1,184			1,110			1,179		6%		7%		4,438		4,575		3%
Premises and equipment			650			574			615			607			681		12%		5%		2,438		2,477		2%
Professional services			650			476			510			514			573		11%		(12%)		2,016		2,073		3%
Advertising and marketing			323			250			269			260			318		22%		(2%)		1,113		1,097		(1%)
Restructuring			(11)			(3)			(2)			(5)			(4)		20%		64%		259		(14)		NM
Other operating⁽¹⁾			1,155			1,183			1,078			2,005			1,596		(20%)		38%		5,726		5,862		2%
Total operating expenses⁽¹⁾			13,070			13,425			13,577			14,290			13,840		(3%)		6%		53,567		55,132		3%


Income (loss) from continuing operations before income taxes			3,802			5,448			5,219			5,350			3,811		(29%)		-		17,046		19,828		16%
Provision (benefit) for income taxes			912			1,340			1,186			1,559			1,288		(17%)		41%		4,211		5,373		28%

Income (loss) from continuing operations			2,890			4,108			4,033			3,791			2,523		(33%)		(13%)		12,835		14,455		13%
Discontinued operations
Income (loss) from discontinued operations			-			(1)			-			(1)			(1)		-		NM		(2)		(3)		(50%)
Provision (benefit) for income taxes			-			-			-			-			-		-		-		-		-		-
Income (loss) from discontinued operations, net of taxes			-			(1)			-			(1)			(1)		-		NM		(2)		(3)		(50%)

Net income (loss) before attribution to noncontrolling interests			2,890			4,107			4,033			3,790			2,522		(33%)		(13%)		12,833		14,452		13%
Noncontrolling interests			34			43			14			38			51		34%		50%		151		146		(3%)

Citigroup’s net income (loss)		$	2,856		$	4,064		$	4,019		$	3,752		$	2,471		(34%)		(13%)	$	12,682	$	14,306		13%

(1)	See footnote 1 on page 1.

(2)

Effective July 1, 2025, gains and losses on certain economic and qualifying hedging derivatives and foreign currency transaction gains and losses related to non-U.S. dollar debt and certain foreign operations in countries with highly inflationary economies with the U.S. dollar as their functional currency, which were previously presented within Other revenue, are presented within Principal transactions. Prior periods were conformed to reflect this change in presentation.

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 2

CITIGROUP CONSOLIDATED BALANCE SHEET

(In millions of dollars)

											4Q25 Increase/
	December 31,		March 31,		June 30,		September 30,		December 31,		(Decrease) from
	2024		2025		2025		2025		2025⁽¹⁾		3Q25	4Q24
Assets
Cash and due from banks (including segregated cash and other deposits)	$	22,782	$	24,463	$	24,991	$	23,545	$	23,717	1%	4%
Deposits with banks, net of allowance		253,750		283,868		312,482		324,515		325,862	-	28%
Securities borrowed and purchased under agreements to resell, net of allowance		274,062		390,215		323,892		321,347		356,195	11%	30%
Brokerage receivables, net of allowance		50,841		57,440		64,029		75,992		62,679	(18%)	23%
Trading account assets		442,747		518,577		568,558		562,254		537,139	(4%)	21%
Investments
Available-for-sale debt securities		226,876		225,180		235,802		246,227		246,720	-	9%
Held-to-maturity debt securities, net of allowance		242,382		220,385		206,094		197,092		189,831	(4%)	(22%)
Equity securities		7,399		7,323		7,504		7,413		7,678	4%	4%
Total investments		476,657		452,888		449,400		450,732		444,229	(1%)	(7%)
Loans
Consumer⁽²⁾		393,102		386,312		395,759		398,628		408,533	2%	4%
Corporate⁽³⁾		301,386		315,744		329,586		335,277		343,697	3%	14%
Loans, net of unearned income		694,488		702,056		725,345		733,905		752,230	2%	8%
Allowance for credit losses on loans (ACLL)		(18,574)		(18,726)		(19,123)		(19,206)		(19,247)	-	(4%)
Total loans, net		675,914		683,330		706,222		714,699		732,983	3%	8%
Goodwill		19,300		19,422		19,878		19,126		19,098	-	(1%)
Intangible assets (including MSRs)		4,494		4,430		4,409		4,330		4,284	(1%)	(5%)
Premises and equipment, net of depreciation and amortization		30,192		30,814		32,312		32,819		33,339	2%	10%
Other assets, net of allowance		102,206		106,067		116,599		113,116		117,677	4%	15%
Total assets	$	2,352,945	$	2,571,514	$	2,622,772	$	2,642,475	$	2,657,202	1%	13%

Liabilities
Non-interest-bearing deposits in U.S. offices	$	123,338	$	122,472	$	119,898	$	116,921	$	121,610	4%	(1%)
Interest-bearing deposits in U.S. offices		551,547		562,628		575,709		592,728		613,052	3%	11%
Total U.S. deposits		674,885		685,100		695,607		709,649		734,662	4%	9%
Non-interest-bearing deposits in offices outside the U.S.		84,349		82,215		86,458		83,920		87,041	4%	3%
Interest-bearing deposits in offices outside the U.S.		525,224		549,095		575,668		590,360		581,870	(1%)	11%
Total international deposits		609,573		631,310		662,126		674,280		668,911	(1%)	10%

Total deposits		1,284,458		1,316,410		1,357,733		1,383,929		1,403,573	1%	9%
Securities loaned and sold under agreements to repurchase		254,755		403,959		347,913		349,726		348,098	-	37%
Brokerage payables		66,601		78,302		90,949		89,596		74,836	(16%)	12%
Trading account liabilities		133,846		148,688		163,952		160,243		162,798	2%	22%
Short-term borrowings		48,505		49,139		55,560		54,760		51,878	(5%)	7%
Long-term debt		287,300		295,684		317,761		315,846		315,827	-	10%
Other liabilities, plus allowances⁽⁴⁾		68,114		66,074		74,774		74,498		86,370	16%	27%
Total liabilities	$	2,143,579	$	2,358,256	$	2,408,642	$	2,428,598	$	2,443,380	1%	14%


Stockholders’ equity
Preferred stock	$	17,850	$	18,350	$	16,350	$	19,050	$	20,050	5%	12%

Common stock		31		31		31		31		31	-	-
Additional paid-in capital⁽⁵⁾		109,117		108,616		108,839		109,010		108,452	(1%)	(1%)
Retained earnings		206,294		209,013		211,674		214,034		215,128	1%	4%
Treasury stock, at cost		(76,842)		(77,880)		(79,886)		(84,932)		(89,473)	(5%)	(16%)
Accumulated other comprehensive income (loss) (AOCI)⁽⁵⁾⁽⁶⁾		(47,852)		(45,722)		(43,786)		(44,170)		(41,897)	5%	12%
Total common equity	$	190,748	$	194,058	$	196,872	$	193,973	$	192,241	(1%)	1%

Total Citigroup stockholders’ equity	$	208,598	$	212,408	$	213,222	$	213,023	$	212,291	-	2%
Noncontrolling interests⁽⁵⁾		768		850		908		854		1,531	79%	99%
Total equity		209,366		213,258		214,130		213,877		213,822	-	2%
Total liabilities and equity	$	2,352,945	$	2,571,514	$	2,622,772	$	2,642,475	$	2,657,202	1%	13%

(1)	December 31, 2025 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), and the Assets Finance Group (AFG)).

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

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

(5)	The December 31, 2025 balances includes the impact from the sale of the 25% equity stake in Grupo Financiero Banamex, S.A. de C.V.

(6)

Included within AOCI is the Cumulative Translation Adjustment (CTA), net of hedges and taxes, attributable to Grupo Financiero Banamex, S.A. de C.V. and its consolidated subsidiaries as of June 30, 2025 and September 30, 2025. During the quarter of deconsolidation, the CTA loss will be recognized through earnings, impacting EPS and RoTCE, and reversing the temporary capital benefit from prior sales; the cumulative impact of CTA will ultimately be regulatory capital neutral.

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)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)
Revenues, net of interest expense⁽¹⁾
Services	$	5,165	$	4,889	$	5,062	$	5,363	$	5,942	11%	15%	$	19,618	$	21,256	8%
Markets		4,576		5,986		5,879		5,563		4,542	(18%)	(1%)		19,836		21,970	11%
Banking		1,241		1,952		1,921		2,132		2,210	4%	78%		6,201		8,215	32%
Wealth		1,994		2,096		2,166		2,164		2,133	(1%)	7%		7,483		8,559	14%
U.S. Personal Banking (USPB)		5,150		5,228		5,119		5,331		5,293	(1%)	3%		20,055		20,971	5%
All Other—managed basis⁽²⁾⁽³⁾		1,335		1,445		1,698		1,535		(248)	NM	NM		7,503		4,430	(41%)
Reconciling Items—divestiture-related impacts⁽⁴⁾		4		-		(177)		2		(1)	NM	NM		26		(176)	NM
Total net revenues—reported	$	19,465	$	21,596	$	21,668	$	22,090	$	19,871	(10%)	2%	$	80,722	$	85,225	6%

Income (loss) from continuing operations
Services	$	1,888	$	1,610	$	1,448	$	1,819	$	2,262	24%	20%	$	6,584	$	7,139	8%
Markets		1,026		1,795		1,749		1,583		801	(49%)	(22%)		5,005		5,928	18%
Banking		357		542		461		635		686	8%	92%		1,529		2,324	52%
Wealth		334		284		494		374		338	(10%)	1%		1,002		1,490	49%
USPB		392		745		649		858		845	(2%)	116%		1,382		3,097	124%
All Other—managed basis⁽²⁾⁽³⁾		(1,071)		(853)		(588)		(701)		(2,299)	(228%)	(115%)		(2,460)		(4,441)	(81%)
Reconciling Items—divestiture-related impacts⁽⁴⁾		(36)		(15)		(180)		(777)		(110)	86%	(206%)		(207)		(1,082)	(423%)
Income (loss) from continuing operations—reported		2,890		4,108		4,033		3,791		2,523	(33%)	(13%)		12,835		14,455	13%

Discontinued operations		-		(1)		-		(1)		(1)	-	NM		(2)		(3)	(50%)

Net income (loss) attributable to noncontrolling interests		34		43		14		38		51	34%	50%		151		146	(3%)
Net income (loss)	$	2,856	$	4,064	$	4,019	$	3,752	$	2,471	(34%)	(13%)	$	12,682	$	14,306	13%

(1)	See footnote 1 on page 1.

(2)

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

(3)

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

(4)

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

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 4

SERVICES

(In millions of dollars, except as otherwise noted)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Net interest income (including dividends)	$	3,446	$	3,498	$	3,630	$	3,823	$	4,050	6%	18%	$	13,423	$	15,001	12%
Fee revenue
Commissions and fees⁽¹⁾		806		815		904		880		879	-	9%		3,296		3,478	6%
Administration and other fiduciary fees		635		658		752		746		751	1%	18%		2,716		2,907	7%
Total fee revenue		1,441		1,473		1,656		1,626		1,630	-	13%		6,012		6,385	6%
Principal transactions⁽²⁾		212		233		124		190		257	35%	21%		753		804	7%
All other⁽²⁾⁽³⁾		66		(315)		(348)		(276)		5	NM	(92%)		(570)		(934)	(64%)
Total non-interest revenue		1,719		1,391		1,432		1,540		1,892	23%	10%		6,195		6,255	1%
Total revenues, net of interest expense⁽¹⁾		5,165		4,889		5,062		5,363		5,942	11%	15%		19,618		21,256	8%
Total operating expenses⁽¹⁾		2,601		2,584		2,679		2,707		2,843	5%	9%		10,568		10,813	2%
Net credit losses (recoveries) on loans		28		6		20		11		19	73%	(32%)		48		56	17%
Credit reserve build (release) for loans		(71)		24		53		(4)		(18)	(350%)	75%		(130)		55	NM
Provision (release) for credit losses on unfunded lending commitments		(4)		(6)		(6)		(8)		3	NM	NM		17		(17)	NM
Provisions for credit losses for other assets and HTM debt securities		159		27		286		62		(15)	NM	NM		341		360	6%
Provision for credit losses		112		51		353		61		(11)	NM	NM		276		454	64%
Income from continuing operations before taxes		2,452		2,254		2,030		2,595		3,110	20%	27%		8,774		9,989	14%
Income taxes		564		644		582		776		848	9%	50%		2,190		2,850	30%
Income from continuing operations		1,888		1,610		1,448		1,819		2,262	24%	20%		6,584		7,139	8%
Noncontrolling interests		17		15		16		17		16	(6%)	(6%)		101		64	(37%)
Net income	$	1,871	$	1,595	$	1,432	$	1,802	$	2,246	25%	20%	$	6,483	$	7,075	9%
EOP assets (in billions)	$	584	$	589	$	618	$	627	$	628	-	8%
Average assets (in billions)		596		578		593		616		630	2%	6%	$	586	$	604	3%
Efficiency ratio		50%		53%		53%		50%		48%	(200) bps	(200) bps		54%		51%	(300) bps
Average allocated TCE (in billions)⁽⁴⁾	$	24.9	$	24.7	$	24.7	$	24.7	$	24.7	-	(1%)	$	24.9	$	24.7	(1%)
RoTCE⁽⁴⁾		29.9%		26.2%		23.3%		28.9%		36.1%	720 bps	620 bps		26.0%		28.6%	260 bps

Revenue by line of business
Net interest income	$	2,840	$	2,865	$	2,949	$	3,121	$	3,303	6%	16%	$	10,923	$	12,238	12%
Non-interest revenue		1,095		775		725		761		879	16%	(20%)		3,578		3,140	(12%)
Treasury and Trade Solutions (TTS)		3,935		3,640		3,674		3,882		4,182	8%	6%		14,501		15,378	6%
Net interest income		606		633		681		702		747	6%	23%		2,500		2,763	11%
Non-interest revenue		624		616		707		779		1,013	30%	62%		2,617		3,115	19%
Securities Services		1,230		1,249		1,388		1,481		1,760	19%	43%		5,117		5,878	15%
Total Services	$	5,165	$	4,889	$	5,062	$	5,363	$	5,942	11%	15%	$	19,618	$	21,256	8%

Revenue by geography
North America	$	1,504	$	1,445	$	1,539	$	1,637	$	1,829	12%	22%	$	5,402	$	6,450	19%
International		3,661		3,444		3,523		3,726		4,113	10%	12%		14,216		14,806	4%
Total	$	5,165	$	4,889	$	5,062	$	5,363	$	5,942	11%	15%	$	19,618	$	21,256	8%

Key drivers⁽⁵⁾ (in billions of dollars, except as otherwise noted)
Average loans by line of business
TTS	$	85	$	86	$	93	$	93	$	95	2%	12%	$	84	$	92	10%
Securities Services		2		1		1		1		1	-	(50%)		1		1	-
Total	$	87	$	87	$	94	$	94	$	96	2%	10%	$	85	$	93	9%

ACLL as a % of EOP loans⁽⁶⁾		0.30%		0.30%		0.36%		0.35%		0.33%	(2) bps	3 bps

Average deposits by line of business
TTS	$	704	$	690	$	713	$	744	$	780	5%	11%	$	689	$	732	6%
Securities Services		135		136		144		149		155	4%	15%		130		146	12%
Total	$	839	$	826	$	857	$	893	$	935	5%	11%	$	819	$	878	7%

AUC/AUA (in trillions of dollars)⁽⁷⁾	$	25.4	$	26.1	$	28.2	$	29.7	$	31.4	6%	24%
Cross-border transaction value⁽⁸⁾	$	101.3	$	95.1	$	101.3	$	104.8	$	115.2	10%	14%	$	379.7	$	416.4	10%
U.S. dollar clearing volume (in millions)⁽⁹⁾		44.1		42.7		44.3		44.8		45.3	1%	3%		168.0		177.1	5%
Commercial card spend volume	$	17.3	$	17.2	$	17.9	$	18.4	$	17.7	(4%)	2%	$	70.4	$	71.2	1%

(1)	See footnote 1 on page 1.

(2)	See footnote 2 on page 2.

(3)	Services revenues reflect the impact of a revenue sharing arrangement with Banking – Corporate Lending, for Services products sold to Corporate Lending clients. This generally results in a reduction in Services reported revenue.

(4)	TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments’ and component’s average allocated TCE to Citigroup’s total average TCE and Citi’s total average stockholders’ equity.

(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.

(7)	4Q25 is preliminary.

(8)	Represents the total value of cross-border foreign exchange payments processed through Citi platforms.

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

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 5

MARKETS

(In millions of dollars, except as otherwise noted)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Net interest income (including dividends)	$	1,856	$	2,013	$	2,902	$	2,251	$	2,843	26%	53%	$	7,005	$	10,009	43%
Fee revenue
Brokerage and fees		329		400		399		400		364	(9%)	11%		1,402		1,563	11%
Investment banking fees⁽¹⁾		104		135		106		163		120	(26%)	15%		426		524	23%
Other⁽²⁾		50		52		51		63		57	(10%)	14%		238		223	(6%)
Total fee revenue		483		587		556		626		541	(14%)	12%		2,066		2,310	12%

Principal transactions⁽³⁾		2,341		3,270		2,335		2,746		1,200	(56%)	(49%)		10,822		9,551	(12%)
All other⁽³⁾⁽⁴⁾		(104)		116		86		(60)		(42)	30%	60%		(57)		100	NM
Total non-interest revenue		2,720		3,973		2,977		3,312		1,699	(49%)	(38%)		12,831		11,961	(7%)

Total revenues, net of interest expense		4,576		5,986		5,879		5,563		4,542	(18%)	(1%)		19,836		21,970	11%
Total operating expenses		3,174		3,468		3,509		3,491		3,609	3%	14%		13,202		14,077	7%

Net credit losses (recoveries) on loans		-		142		8		68		(12)	NM	NM		168		206	23%
Credit reserve build (release) for loans		167		48		53		(44)		(73)	(66%)	NM		213		(16)	NM
Provision (release) for credit losses on unfunded lending commitments		(31)		9		(8)		13		(7)	NM	77%		17		7	(59%)
Provisions for credit losses for other assets and HTM debt securities		(2)		2		55		(5)		(12)	(140%)	(500%)		65		40	(38%)
Provision for credit losses		134		201		108		32		(104)	NM	NM		463		237	(49%)
Income (loss) from continuing operations before taxes		1,268		2,317		2,262		2,040		1,037	(49%)	(18%)		6,171		7,656	24%
Income taxes (benefits)		242		522		513		457		236	(48%)	(2%)		1,166		1,728	48%
Income (loss) from continuing operations		1,026		1,795		1,749		1,583		801	(49%)	(22%)		5,005		5,928	18%
Noncontrolling interests		17		13		21		21		18	(14%)	6%		75		73	(3%)
Net income (loss)	$	1,009	$	1,782	$	1,728	$	1,562	$	783	(50%)	(22%)	$	4,930	$	5,855	19%
EOP assets (in billions)	$	949	$	1,165	$	1,166	$	1,182	$	1,187	-	25%
Average assets (in billions)		1,058		1,121		1,222		1,231		1,249	1%	18%	$	1,063	$	1,206	13%
Efficiency ratio		69%		58%		60%		63%		79%	1,600 bps	1,000 bps		67%		64%	(300) bps
Average allocated TCE (in billions)⁽⁵⁾	$	54.0	$	50.4	$	50.4	$	50.4	$	50.4	-	(7%)	$	54.0	$	50.4	(7%)
RoTCE⁽⁵⁾		7.4%		14.3%		13.8%		12.3%		6.2%	(610) bps	(120) bps		9.1%		11.6%	250 bps

Revenue by line of business
Fixed Income Markets	$	3,478	$	4,477	$	4,268	$	4,023	$	3,458	(14%)	(1%)	$	14,750	$	16,226	10%
Equity Markets		1,098		1,509		1,611		1,540		1,084	(30%)	(1%)		5,086		5,744	13%
Total	$	4,576	$	5,986	$	5,879	$	5,563	$	4,542	(18%)	(1%)	$	19,836	$	21,970	11%

Rates and Currencies	$	2,421	$	3,048	$	3,134	$	2,823	$	2,413	(15%)	-	$	10,152	$	11,418	12%
Spread Products / Other Fixed Income		1,057		1,429		1,134		1,200		1,045	(13%)	(1%)		4,598		4,808	5%
Total Fixed Income Markets revenues	$	3,478	$	4,477	$	4,268	$	4,023	$	3,458	(14%)	(1%)	$	14,750	$	16,226	10%

Revenue by geography
North America	$	1,691	$	2,176	$	2,130	$	2,195	$	1,856	(15%)	10%	$	7,562	$	8,357	11%
International		2,885		3,810		3,749		3,368		2,686	(20%)	(7%)		12,274		13,613	11%
Total	$	4,576	$	5,986	$	5,879	$	5,563	$	4,542	(18%)	(1%)	$	19,836	$	21,970	11%

Key drivers⁽⁶⁾ (in billions of dollars)
Average loans	$	122	$	128	$	136	$	147	$	152	3%	25%	$	120	$	141	18%
NCLs as a % of average loans		0.00%		0.45%		0.02%		0.18%		(0.03%)	(21) bps	(3) bps		0.14%		0.15%	1 bps
ACLL as a % of EOP loans⁽⁷⁾		0.88%		0.89%		0.85%		0.78%		0.67%	(11) bps	(21) bps
Average trading account assets	$	449	$	476	$	549	$	556	$	557	-	24%	$	436	$	535	23%

(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)	See footnote 2 on page 2.

(4)	Markets revenues reflect the impact of a revenue sharing arrangement with Banking – Corporate Lending, for Markets products sold to Corporate Lending clients. This generally results in a reduction in Markets reported revenue.

(5)	TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments’ and component’s average allocated TCE to Citigroup’s total average TCE and Citi’s total average stockholders’ equity.

(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 6

BANKING

(In millions of dollars, except as otherwise noted)

														4Q25 Increase/		Full		Full		FY 2025 vs.
		4Q			1Q			2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
		2024			2025			2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Net interest income (including dividends)		$	521		$	491		$	530	$	562	$	549	(2%)	5%	$	2,157	$	2,132	(1%)
Fee revenue
Investment banking fees⁽¹⁾			951			1,104			1,058		1,169		1,287	10%	35%		3,857		4,618	20%
Other⁽²⁾			51			49			59		65		60	(8%)	18%		174		233	34%
Total fee revenue			1,002			1,153			1,117		1,234		1,347	9%	34%		4,031		4,851	20%
Principal transactions⁽³⁾			(212)			(90)			(179)		(164)		(119)	27%	44%		(787)		(552)	30%
All other⁽³⁾⁽⁴⁾			(70)			398			453		500		433	(13%)	NM		800		1,784	123%
Total non-interest revenue			720			1,461			1,391		1,570		1,661	6%	131%		4,044		6,083	50%

Total revenues, net of interest expense			1,241			1,952			1,921		2,132		2,210	4%	78%		6,201		8,215	32%
Total operating expenses			1,051			1,034			1,137		1,139		1,152	1%	10%		4,477		4,462	-

Net credit losses on loans			7			34			16		9		25	178%	257%		149		84	(44%)
Credit reserve build (release) for loans			(122)			78			137		38		136	258%	NM		(200)		389	NM
Provision (release) for credit losses on unfunded lending commitments			(82)			107			2		98		14	(86%)	NM		(128)		221	NM
Provisions for credit losses for other assets and HTM debt securities			(43)			(5)			18		12		1	(92%)	NM		(45)		26	NM
Provision for credit losses			(240)			214			173		157		176	12%	NM		(224)		720	NM
Income (loss) from continuing operations before taxes			430			704			611		836		882	6%	105%		1,948		3,033	56%
Income taxes (benefits)			73			162			150		201		196	(2%)	168%		419		709	69%
Income (loss) from continuing operations			357			542			461		635		686	8%	92%		1,529		2,324	52%
Noncontrolling interests			1			(1)			(2)		(3)		1	NM	-		5		(5)	NM
Net income (loss)		$	356		$	543		$	463	$	638	$	685	7%	92%	$	1,524	$	2,329	53%
EOP assets (in billions)		$	143		$	147		$	148	$	141	$	140	(1%)	(2%)
Average assets (in billions)			149			144			150		149		146	(2%)	(2%)	$	152	$	147	(3%)
Efficiency ratio			85%			53%			59%		53%		52%	(100) bps	(3,300) bps		72%		54%	(1,800) bps
Average allocated TCE (in billions)⁽⁵⁾		$	21.8		$	20.6		$	20.6	$	20.6	$	20.6	-	(6%)	$	21.8	$	20.6	(6%)
RoTCE⁽⁵⁾			6.5%			10.7%			9.0%		12.3%		13.2%	90 bps	670 bps		7.0%		11.3%	430 bps

Revenue by line of business
Total Investment Banking		$	925		$	1,035		$	981	$	1,146	$	1,272	11%	38%	$	3,637	$	4,434	22%
Corporate Lending (excluding gain (loss) on loan hedges)⁽⁴⁾⁽⁶⁾			322			903			1,002		1,030		964	(6%)	199%		2,744		3,899	42%
Total Banking revenues (ex-gain (loss) on loan hedges)⁽⁴⁾⁽⁶⁾			1,247			1,938			1,983		2,176		2,236	3%	79%		6,381		8,333	31%
Gain (loss) on loan hedges⁽⁴⁾⁽⁶⁾			(6)			14			(62)		(44)		(26)	41%	(333%)		(180)		(118)	34%
Total Banking revenues including gain/(loss) on loan hedges⁽⁴⁾⁽⁶⁾		$	1,241		$	1,952		$	1,921	$	2,132	$	2,210	4%	78%	$	6,201	$	8,215	32%

Business metrics—investment banking fees
Advisory		$	353		$	424		$	408	$	427	$	649	52%	84%	$	1,245	$	1,908	53%
Equity underwriting (Equity Capital Markets (ECM))			214			127			218		174		180	3%	(16%)		688		699	2%
Debt underwriting (Debt Capital Markets (DCM))			384			553			432		568		458	(19%)	19%		1,924		2,011	5%
Total		$	951		$	1,104		$	1,058	$	1,169	$	1,287	10%	35%	$	3,857	$	4,618	20%

Revenue by geography
North America		$	738		$	989		$	781	$	995	$	1,143	15%	55%	$	3,097	$	3,908	26%
International			503			963			1,140		1,137		1,067	(6%)	112%		3,104		4,307	39%
Total		$	1,241		$	1,952		$	1,921	$	2,132	$	2,210	4%	78%	$	6,201	$	8,215	32%

Key drivers⁽⁷⁾ (in billions of dollars)
Average loans		$	84		$	82		$	84	$	81	$	79	(2%)	(6%)	$	88	$	82	(7%)
NCLs as a % of average loans			0.03%			0.17%			0.08%		0.04%		0.13%	9 bps	10 bps		0.17%		0.10%	(7) bps
ACLL as a % of EOP loans⁽⁸⁾			1.42%			1.54%			1.72%		1.83%		2.04%	21 bps	62 bps

(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)	See footnote 2 on page 2.

(4)	Banking revenues reflect the impact of a revenue sharing arrangement with Banking – Corporate Lending, for Investment Banking, Markets and Services products sold to Corporate Lending clients. This generally results in an increase in Banking reported revenue.

(5)	TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments’ and component’s average allocated TCE to Citigroup’s total average TCE and Citi’s total average stockholders’ equity.

(6)

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.

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

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

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 7

WEALTH

(In millions of dollars, except as otherwise noted)

															4Q25 Increase/			Full			Full		FY 2025 vs.
		4Q			1Q			2Q			3Q		4Q		(Decrease) from			Year			Year		FY 2024 Increase/
		2024			2025			2025			2025		2025		3Q25		4Q24	2024			2025		(Decrease)

Net interest income		$	1,247		$	1,274		$	1,278		$	1,332	$	1,397	5%		12%	$	4,508		$	5,281	17%
Fee revenue
Commissions and fees⁽¹⁾			358			399			370			406		376	(7%)		5%		1,380			1,551	12%
Other⁽²⁾			245			247			245			232		238	3%		(3%)		949			962	1%
Total fee revenue			603			646			615			638		614	(4%)		2%		2,329			2,513	8%
All other⁽³⁾			144			176			273			194		122	(37%)		(15%)		646			765	18%
Total non-interest revenue			747			822			888			832		736	(12%)		(1%)		2,975			3,278	10%

Total revenues, net of interest expense⁽¹⁾			1,994			2,096			2,166			2,164		2,133	(1%)		7%		7,483			8,559	14%

Total operating expenses⁽¹⁾			1,561			1,639			1,558			1,654		1,650	-		6%		6,326			6,501	3%
Net credit losses on loans			30			38			40			56		36	(36%)		20%		121			170	40%
Credit reserve build (release) for loans			(11)			61			(64)			(25)		2	NM		NM		(236)			(26)	89%
Provision (release) for credit losses on unfunded lending commitments			-			(1)			(2)			(1)		1	NM		NM		(9)			(3)	67%
Provisions for benefits and claims (PBC), and other assets			1			-			-			-		(1)	NM		NM		(2)			(1)	50%
Provisions for credit losses and for PBC			20			98			(26)			30		38	27%		90%		(126)			140	NM
Income from continuing operations before taxes			413			359			634			480		445	(7%)		8%		1,283			1,918	49%
Income taxes			79			75			140			106		107	1%		35%		281			428	52%
Income from continuing operations			334			284			494			374		338	(10%)		1%		1,002			1,490	49%
Noncontrolling interests			-			-			-			-		-	-		-		-			-	-
Net income		$	334		$	284		$	494		$	374	$	338	(10%)		1%	$	1,002		$	1,490	49%
EOP assets (in billions)		$	224		$	224		$	228		$	232	$	230	(1%)		3%
Average assets (in billions)			227			223			226			233		240	3%		6%	$	231		$	231	-
Efficiency ratio			78%			78%			72%			76%		77%	100 bps		(100) bps		85%			76%	(900) bps
Average allocated TCE (in billions)⁽⁴⁾		$	13.2		$	12.3		$	12.3		$	12.3	$	12.3	-		(7%)	$	13.2		$	12.3	(7%)
RoTCE⁽⁴⁾			10.1%			9.4%			16.1%			12.1%		10.9%	(120) bps		80 bps		7.6%			12.1%	450 bps

Revenue by line of business
Private Bank		$	590		$	664		$	731		$	656	$	625	(5%)		6%	$	2,386		$	2,676	12%
Citigold			1,148			1,164			1,214			1,294		1,281	(1%)		12%		4,221			4,953	17%
Wealth at Work			256			268			221			214		227	6%		(11%)		876			930	6%
Total		$	1,994		$	2,096		$	2,166		$	2,164	$	2,133	(1%)		7%	$	7,483		$	8,559	14%

Revenue by geography
North America		$	1,008		$	1,073		$	1,081		$	1,066	$	1,096	3%		9%	$	3,628		$	4,316	19%
International			986			1,023			1,085			1,098		1,037	(6%)		5%		3,855			4,243	10%
Total		$	1,994		$	2,096		$	2,166		$	2,164	$	2,133	(1%)		7%	$	7,483		$	8,559	14%

Key drivers⁽⁵⁾ (in billions of dollars)

EOP client balances
Client investment assets⁽⁶⁾⁽⁷⁾		$	587		$	595		$	635		$	660	$	670	2%		14%
Deposits			313			309			310			318		324	2%		4%
Loans			148			147			151			151		150	(1%)		2%
Total		$	1,048		$	1,051		$	1,096		$	1,129	$	1,144	1%		9%

Net new investment assets (NNIA)⁽⁷⁾⁽⁸⁾		$	15.6		$	16.5		$	2.0		$	18.6	$	7.2	(61%)		(54%)	$	42.5		$	44.3	4%
Average deposits			315			310			308			315		319	1%		1%		316			313	(1%)
Average loans			148			147			149			151		149	(1%)		1%		149			149	-
ACLL as a % of EOP loans			0.36%			0.40%			0.36%			0.34%		0.34%	0 bps		(2) bps

(1)	See footnote 1 on page 1.

(2)	Primarily related to fiduciary and administrative fees.

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

(4)	TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments’ and component’s average allocated TCE to Citigroup’s total average TCE and Citi’s total average stockholders’ equity.

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

(7)	4Q25 is preliminary.

(8)	Represents investment asset inflows, including dividends, interest and distributions, less investment asset outflows.

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 8

U.S. PERSONAL BANKING (USPB)

(In millions of dollars, except as otherwise noted)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Net interest income	$	5,481	$	5,541	$	5,471	$	5,694	$	5,764	1%	5%	$	21,103	$	22,470	6%
Fee revenue
Interchange fees⁽¹⁾⁽²⁾		2,483		2,324		2,499		2,488		2,567	3%	3%		9,591		9,878	3%
Card rewards and partner payments		(2,960)		(2,821)		(3,008)		(3,031)		(3,215)	(6%)	(9%)		(11,226)		(12,075)	(8%)
Other⁽²⁾		139		143		147		162		162	-	17%		468		614	31%
Total fee revenue		(338)		(354)		(362)		(381)		(486)	(28%)	(44%)		(1,167)		(1,583)	(36%)
All other⁽³⁾		7		41		10		18		15	(17%)	114%		119		84	(29%)
Total non-interest revenue		(331)		(313)		(352)		(363)		(471)	(30%)	(42%)		(1,048)		(1,499)	(43%)

Total revenues, net of interest expense⁽¹⁾		5,150		5,228		5,119		5,331		5,293	(1%)	3%		20,055		20,971	5%

Total operating expenses⁽¹⁾		2,465		2,442		2,381		2,365		2,521	7%	2%		9,646		9,709	1%
Net credit losses on loans		1,920		1,983		1,889		1,776		1,783	-	(7%)		7,579		7,431	(2%)
Credit reserve build (release) for loans		246		(171)		(6)		64		(113)	NM	NM		1,006		(226)	NM
Provision (release) for credit losses on unfunded lending commit.		-		-		1		-		-	-	-		-		1	NM
Provisions for benefits and claims (PBC), and other assets		4		(1)		1		2		3	50%	(25%)		13		5	(62%)
Provisions for credit losses and for PBC		2,170		1,811		1,885		1,842		1,673	(9%)	(23%)		8,598		7,211	(16%)
Income from continuing operations before taxes		515		975		853		1,124		1,099	(2%)	113%		1,811		4,051	124%
Income taxes		123		230		204		266		254	(5%)	107%		429		954	122%
Income from continuing operations		392		745		649		858		845	(2%)	116%		1,382		3,097	124%
Noncontrolling interests		-		-		-		-		-	-	-		-		-	-
Net income	$	392	$	745	$	649	$	858	$	845	(2%)	116%	$	1,382	$	3,097	124%
EOP assets (in billions)	$	252	$	244	$	251	$	252	$	264	5%	5%
Average assets (in billions)		249		247		247		253		258	2%	4%	$	241	$	251	4%
Efficiency ratio		48%		47%		47%		44%		48%	400 bps	0 bps		48%		46%	(200) bps
Average allocated TCE (in billions)⁽⁴⁾	$	25.2	$	23.4	$	23.4	$	23.4	$	23.4	-	(7%)	$	25.2	$	23.4	(7%)
RoTCE⁽⁴⁾		6.2%		12.9%		11.1%		14.5%		14.3%	(20) bps	810 bps		5.5%		13.2%	770 bps

Revenue by line of business⁽¹⁾⁽⁵⁾
Branded Cards	$	2,806	$	2,892	$	2,822	$	2,970	$	2,952	(1%)	5%	$	10,735	$	11,636	8%
Retail Services		1,741		1,675		1,649		1,686		1,612	(4%)	(7%)		7,070		6,622	(6%)
Retail Banking		603		661		648		675		729	8%	21%		2,250		2,713	21%
Total	$	5,150	$	5,228	$	5,119	$	5,331	$	5,293	(1%)	3%	$	20,055	$	20,971	5%

Key drivers⁽⁶⁾ (in billions)
Average loans	$	216	$	216	$	217	$	220	$	226	3%	5%	$	209	$	220	5%
ACLL as a % of EOP loans⁽⁷⁾		6.38%		6.51%		6.34%		6.33%		6.00%	(33) bps	(38) bps
NCLs as a % of average loans		3.54%		3.72%		3.49%		3.20%		3.13%	(7) bps	(41) bps		3.62%		3.38%	(24) bps
Average deposits		86		89		90		90		88	(2%)	2%		91		89	(2%)

(1)	See footnote 1 on page 1.

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

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

(4)	TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments’ and component’s average allocated TCE to Citigroup’s total average TCE and Citi’s total average stockholders’ equity.

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

(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 9

U.S. PERSONAL BANKING

Metrics

																4Q25 Increase/
		4Q		1Q			2Q			3Q			4Q			(Decrease) from
Key Drivers⁽¹⁾⁽²⁾ (in billions of dollars, except as otherwise noted)		2024		2025			2025			2025			2025			3Q25	4Q24

New credit cards account acquisitions (in thousands)
Branded Cards			1,129		1,300			1,194			1,343			1,355		1%	20%
Retail Services			2,391		1,540			2,061			1,868			2,332		25%	(2%)
Credit card spend volume
Branded Cards		$	135.4	$	125.1		$	135.8		$	135.6		$	141.9		5%	5%
Retail Services			25.2		19.0			22.9			21.5			24.4		13%	(3%)
Average loans⁽³⁾
Branded Cards		$	116.9	$	116.7		$	118.0		$	120.2		$	121.8		1%	4%
Credit cards			113.1		112.9			114.3			116.5			118.0		1%	4%
Personal installment loans (PIL)			3.8		3.8			3.7			3.7			3.8		3%	-
Retail Services			51.9		51.3			50.2			50.3			50.5		-	(3%)
Retail Banking			46.8		47.9			48.7			49.8			53.7		8%	15%
EOP loans⁽³⁾
Branded Cards		$	121.1	$	116.3		$	120.2		$	121.2		$	125.3		3%	3%
Credit cards			117.3		112.6			116.6			117.4			121.5		3%	4%
PIL			3.8		3.7			3.6			3.8			3.8		-	-
Retail Services			53.8		50.2			50.7			50.1			52.2		4%	(3%)
Retail Banking			46.8		48.2			49.3			50.3			54.3		8%	16%
Total revenues, net of interest expenses as a % of average loans
Branded Cards			9.55%		10.05%			9.59%			9.80%			9.62%		(18) bps	7 bps
Retail Services			13.35%		13.24%			13.18%			13.30%			12.66%		(64) bps	(69) bps
NII as a % of average loans⁽⁴⁾
Branded Cards			9.36%		9.79%			9.53%			9.67%			9.84%		17 bps	48 bps
Retail Services			17.06%		17.13%			16.89%			17.31%			16.66%		(65) bps	(40) bps
NCLs as a % of average loans
Branded Cards			3.63%		3.97%			3.80%			3.54%			3.45%		(9) bps	(18) bps
Credit cards			3.55%		3.89%			3.73%			3.45%			3.37%		(8) bps	(18) bps
PIL			6.18%		6.19%			6.18%			6.43%			6.06%		(37) bps	(12) bps
Retail Services			6.21%		6.43%			5.89%			5.28%			5.33%		5 bps	(88) bps
Retail Banking			0.36%		0.25%			0.27%			0.28%			0.33%		5 bps	(3) bps
Loans 90+ days past due as a % of EOP loans
Branded Cards			1.16%		1.18%			1.09%			1.07%			1.13%		6 bps	(3) bps
Credit cards			1.18%		1.20%			1.11%			1.08%			1.15%		7 bps	(3) bps
PIL			0.55%		0.49%			0.58%			0.55%			0.58%		3 bps	3 bps
Retail Services			2.46%		2.38%			2.15%			2.21%			2.20%		(1) bps	(26) bps
Retail Banking⁽⁵⁾			0.31%		0.33%			0.40%			0.40%			0.36%		(4) bps	5 bps
Loans 30-89 days past due as a % of EOP loans
Branded Cards			1.04%		1.03%			0.97%			1.05%			1.10%		5 bps	6 bps
Credit cards			1.03%		1.02%			0.96%			1.04%			1.09%		5 bps	6 bps
PIL			1.34%		1.38%			1.39%			1.24%			1.34%		10 bps	0 bps
Retail Services			2.09%		2.12%			1.96%			2.11%			2.00%		(11) bps	(9) bps
Retail Banking⁽⁵⁾			0.48%		0.56%			0.45%			0.39%			0.46%		7 bps	(2) bps
Branches (actual)			642		644			650			653			655		-	2%
Mortgage originations		$	4.2	$	2.8		$	4.7		$	4.6		$	5.4		17%	29%

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

(2)	See footnote 5 on page 9.

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

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

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

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)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Net interest income	$	1,182	$	1,195	$	1,364	$	1,278	$	1,062	(17%)	(10%)	$	5,899	$	4,899	(17%)
Non-interest revenue^(4)(5)(6)		153		250		334		257		(1,310)	NM	NM		1,604		(469)	NM
Total revenues, net of interest expense		1,335		1,445		1,698		1,535		(248)	NM	NM		7,503		4,430	(41%)
Total operating expenses^{(4)(6)(7)(8)(9)(10)}		2,162		2,224		2,276		2,168		2,025	(7%)	(6%)		9,030		8,693	(4%)
Net credit losses on loans		257		256		256		297		341	15%	33%		928		1,150	24%
Credit reserve build (release) for loans		112		73		70		16		75	369%	(33%)		73		234	221%
Provision (release) for credit losses on unfunded lending commitments		(1)		(1)		(6)		(6)		2	NM	NM		(16)		(11)	31%
Provisions for benefits and claims (PBC), other assets and HTM debt securities		29		31		54		24		31	29%	7%		130		140	8%
Provisions for credit losses and for PBC		397		359		374		331		449	36%	13%		1,115		1,513	36%
Income (loss) from continuing operations before taxes		(1,224)		(1,138)		(952)		(964)		(2,722)	(182%)	(122%)		(2,642)		(5,776)	(119%)
Income taxes (benefits)		(153)		(285)		(364)		(263)		(423)	(61%)	(176%)		(182)		(1,335)	NM
Income (loss) from continuing operations		(1,071)		(853)		(588)		(701)		(2,299)	(228%)	(115%)		(2,460)		(4,441)	(81%)
Income (loss) from discontinued operations, net of taxes		-		(1)		-		(1)		(1)	-	NM		(2)		(3)	(50%)
Noncontrolling interests		(1)		16		(21)		3		16	433%	NM		(30)		14	NM
Net income (loss)	$	(1,070)	$	(870)	$	(567)	$	(705)	$	(2,316)	(229%)	(116%)	$	(2,432)	$	(4,458)	(83%)
EOP assets (in billions)	$	201	$	203	$	212	$	208	$	208	-	3%
Average assets (in billions)		196		204		210		207		200	(3%)	2%	$	195	$	205	5%
Efficiency ratio		162%		154%		134%		141%		(817%)	NM	NM		120%		196%	7,600 bps
Average allocated TCE (in billions)⁽¹¹⁾	$	29.5	$	37.9	$	40.7	$	40.9	$	39.0	(5%)	32%	$	27.6	$	39.2	42%

Revenue by line of business
Mexico Consumer/SBMM	$	1,422	$	1,467	$	1,536	$	1,722	$	1,775	3%	25%	$	6,141	$	6,500	6%
Asia Consumer^(5)(12)		150		135		155		149		(1,434)	NM	NM		812		(995)	NM
Legacy Holdings Assets (LHA)		(9)		19		-		-		(12)	NM	(33%)		(118)		7	NM
Corporate/Other		(228)		(176)		7		(336)		(577)	(72%)	(153%)		668		(1,082)	NM
Total	$	1,335	$	1,445	$	1,698	$	1,535	$	(248)	NM	NM	$	7,503	$	4,430	(41%)

Mexico Consumer/SBMM—key indicators (in billions of dollars)
EOP loans	$	23.1	$	24.1	$	26.8	$	28.5	$	30.0	5%	30%
EOP deposits		34.1		35.3		38.4		40.6		43.8	8%	28%
Average loans		23.4		23.7		25.5		27.2		29.2	7%	25%
NCLs as a % of average loans (Mexico Consumer only)		4.81%		5.51%		5.28%		5.46%		5.91%	45 bps	110 bps
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		1.43%		1.41%		1.58%		1.60%		1.72%	12 bps	29 bps
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		1.41%		1.46%		1.52%		1.58%		1.59%	1 bps	18 bps

Asia Consumer—key indicators (in billions of dollars)^(13)(14)
EOP loans	$	4.7	$	4.5	$	3.0	$	2.7	$	2.5	(7%)	(47%)
EOP deposits		7.5		7.4		1.5		1.3		1.1	(15%)	(85%)
Average loans		5.1		4.7		4.0		2.8		2.6	(7%)	(49%)

Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans	$	2.2	$	2.2	$	2.1	$	1.8	$	1.8	-	(18%)

(1)

Includes Legacy Franchises (see page 12 for details) and certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations. The results of operations, as well as certain disclosed balance sheet information, for Mexico Consumer/SBMM are presented on a managerial view and include certain intercompany allocations, managerial charges and offshore expenses that reflect the Mexico Consumer/SBMM operations as a component of Citi’s consolidated operations. The Mexico Consumer/SBMM results are therefore not intended to reflect, and may differ (significantly) from, Banamex’s results and operations as a standalone legal entity.

(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/SBMM 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 1 on page 1.

(5)

In 4Q25, Citigroup recognized an approximately $1.2 billion loss recorded in revenue (approximately $1.1 billion after tax) related to the loss on sale of the announced move to held-for-sale of A.O. Citibank (Russia). The loss on sale consists of ($1.556 billion) ($1.506 billion after-tax) in Legacy Franchises and ($32 million) in Corp/Other, partially offset by $356 million in Services, $19 million in Markets and $40 million in Banking. The only tax impact ($50 million tax benefit) was recorded in Legacy Franchises. For additional information, see Citi’s Form 8-K filed on December 29, 2025.

(6)	See footnote 2 on page 14.

(7)	See footnote 3 on page 14.

(8)	See footnote 4 on page 14.

(9)	See footnote 5 on page 14.

(10)	See footnote 6 on page 14.

(11)	TCE is a non-GAAP financial measure. See page 23 for a reconciliation of the summation of the segments’ and component’s average allocated TCE.

(12)	Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.

(13)	Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.

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

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 11

ALL OTHER—MANAGED BASIS⁽¹⁾⁽²⁾

Legacy Franchises⁽³⁾

(In millions of dollars, except as otherwise noted)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Net interest income	$	1,160	$	1,167	$	1,271	$	1,338	$	1,379	3%	19%	$	4,887	$	5,155	5%
Non-interest revenue^(4)(5)(6)		403		454		420		533		(1,050)	NM	NM		1,948		357	(82%)
Total revenues, net of interest expense		1,563		1,621		1,691		1,871		329	(82%)	(79%)		6,835		5,512	(19%)
Total operating expenses^{(4)(6)(7)(8)(9)(10)}		1,381		1,334		1,287		1,320		1,222	(7%)	(12%)		6,011		5,163	(14%)
Net credit losses on loans		257		256		256		297		341	15%	33%		928		1,150	24%
Credit reserve build (release) for loans		112		73		70		16		75	369%	(33%)		73		234	221%
Provision (release) for credit losses on unfunded lending commitments		(1)		(1)		(6)		(6)		2	NM	NM		(16)		(11)	31%
Provisions for benefits and claims (PBC), other assets and HTM debt securities		25		30		51		20		29	45%	16%		125		130	4%
Provisions for credit losses and for PBC		393		358		371		327		447	37%	14%		1,110		1,503	35%
Income (loss) from continuing operations before taxes		(211)		(71)		33		224		(1,340)	NM	NM		(286)		(1,154)	(303%)
Income taxes (benefits)		(53)		(25)		(5)		66		147	123%	NM		(42)		183	NM
Income (loss) from continuing operations		(158)		(46)		38		158		(1,487)	NM	NM		(244)		(1,337)	(448%)
Noncontrolling interests		3		14		(22)		3		9	200%	200%		5		4	(20%)
Net income (loss)	$	(161)	$	(60)	$	60	$	155	$	(1,496)	NM	NM	$	(249)	$	(1,341)	(439%)
EOP assets (in billions)	$	74	$	77	$	83	$	86	$	86	-	16%
Average assets (in billions)		72		77		81		85		87	2%	21%	$	74	$	83	12%
Efficiency ratio		88%		82%		76%		71%		371%	NM	NM		88%		94%	600 bps
Allocated TCE (in billions)⁽¹¹⁾	$	6.2	$	5.1	$	5.1	$	5.1	$	5.1	-	(18%)	$	6.2	$	5.1	(18%)

Revenue by reporting unit and line of business
Mexico Consumer/SBMM⁽³⁾	$	1,422	$	1,467	$	1,536	$	1,722	$	1,775	3%	25%	$	6,141	$	6,500	6%
Asia Consumer^(5)(12)		150		135		155		149		(1,434)	NM	NM		812		(995)	NM
Legacy Holdings Assets (LHA)		(9)		19		-		-		(12)	NM	(33%)		(118)		7	NM
Total	$	1,563	$	1,621	$	1,691	$	1,871	$	329	(82%)	(79%)	$	6,835	$	5,512	(19%)

Mexico Consumer/SBMM⁽³⁾—key indicators (in billions of dollars)
EOP loans	$	23.1	$	24.1	$	26.8	$	28.5	$	30.0	5%	30%
EOP deposits		34.1		35.3		38.4		40.6		43.8	8%	28%
Average loans		23.4		23.7		25.5		27.2		29.2	7%	25%
NCLs as a % of average loans (Mexico Consumer only)		4.81%		5.51%		5.28%		5.46%		5.91%	45 bps	110 bps
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)		1.43%		1.41%		1.58%		1.60%		1.72%	12 bps	29 bps
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)		1.41%		1.46%		1.52%		1.58%		1.59%	1 bps	18 bps

Asia Consumer—key indicators (in billions of dollars)^(13)(14)
EOP loans	$	4.7	$	4.5	$	3.0	$	2.7	$	2.5	(7%)	(47%)
EOP deposits		7.5		7.4		1.5		1.3		1.1	(15%)	(85%)
Average loans		5.1		4.7		4.0		2.8		2.6	(7%)	(49%)

Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans	$	2.2	$	2.2	$	2.1	$	1.8	$	1.8	-	(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/SBMM within Legacy Franchises. See page 14 for additional information. The results of operations, as well as certain disclosed balance sheet information, for Mexico Consumer/SBMM are presented on a managerial view and include certain intercompany allocations, managerial charges and offshore expenses that reflect the Mexico Consumer/SBMM operations as a component of Citi’s consolidated operations. The Mexico Consumer/SBMM results are therefore not intended to reflect, and may differ (significantly) from, Banamex’s results and operations as a standalone legal entity.

(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 has exited or intends to exit (collectively Asia Consumer); Mexico Consumer/SBMM (consists of Mexico consumer banking (Mexico Consumer) and Small Business and Middle-Market Banking (SBMM), collectively (Mexico Consumer/SBMM)); and Legacy Holdings Assets (primarily North America consumer mortgage loans, Citigroup’s U.K. consumer banking business and other legacy assets).

(4)	See footnote 1 on page 1.

(5)

(6)	See footnote 2 on page 14.

(7)	See footnote 3 on page 14.

(8)	See footnote 4 on page 14.

(9)	See footnote 5 on page 14.

(10)	See footnote 6 on page 14.

(11)	TCE is a non-GAAP financial measure. See page 23 for a reconciliation of the summation of the segments’ and component’s average allocated TCE.

(12)	Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.

(13)	Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.

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

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 12

ALL OTHER

Corporate/Other⁽¹⁾

(In millions of dollars, except as otherwise noted)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Net interest income	$	22	$	28	$	93	$	(60)	$	(317)	(428%)	NM	$	1,012	$	(256)	NM
Non-interest revenue		(250)		(204)		(86)		(276)		(260)	6%	(4%)		(344)		(826)	(140%)
Total revenues, net of interest expense		(228)		(176)		7		(336)		(577)	(72%)	(153%)		668		(1,082)	NM
Total operating expenses		781		890		989		848		803	(5%)	3%		3,019		3,530	17%
Provisions for other assets, HTM debt securities and other		4		1		3		4		2	(50%)	(50%)		5		10	100%
Income (loss) from continuing operations before taxes		(1,013)		(1,067)		(985)		(1,188)		(1,382)	(16%)	(36%)		(2,356)		(4,622)	(96%)
Income taxes (benefits)		(100)		(260)		(359)		(329)		(570)	(73%)	(470%)		(140)		(1,518)	NM
Income (loss) from continuing operations		(913)		(807)		(626)		(859)		(812)	5%	11%		(2,216)		(3,104)	(40%)
Income (loss) from discontinued operations, net of taxes		-		(1)		-		(1)		(1)	-	NM		(2)		(3)	(50%)
Noncontrolling interests		(4)		2		1		-		7	NM	NM		(35)		10	NM
Net income (loss)	$	(909)	$	(810)	$	(627)	$	(860)	$	(820)	5%	10%	$	(2,183)	$	(3,117)	(43%)
EOP assets (in billions)	$	127	$	126	$	129	$	122	$	122	-	(4%)
Average allocated TCE (in billions)⁽²⁾		23.3		32.8		35.6		35.8		33.9	(5%)	45%	$	21.4	$	34.1	59%

(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 23 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)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Net interest income	$	-	$	-	$	-	$	-	$	-	-	-	$	-	$	-	-
Non-interest revenue⁽²⁾		4		-		(177)		2		(1)	NM	NM		26		(176)	NM
Total revenues, net of interest expense		4		-		(177)		2		(1)	NM	NM		26		(176)	NM
Total operating expenses^{(2)(3)(4)(5)(6)}		56		34		37		766		40	(95%)	(29%)		318		877	176%
Net credit losses on loans		-		-		5		(3)		(2)	33%	NM		7		-	(100%)
Credit reserve build (release) for loans		-		(11)		-		-		1	NM	NM		-		(10)	NM
Provision (release) for credit losses on unfunded lending commitments		-		-		-		-		-	-	-		-		-	-
Provisions for benefits and claims (PBC), other assets and HTM debt securities		-		-		-		-		-	-	-		-		-	-
Provisions for credit losses and for PBC		-		(11)		5		(3)		(1)	67%	NM		7		(10)	NM
Income (loss) from continuing operations before taxes		(52)		(23)		(219)		(761)		(40)	95%	23%		(299)		(1,043)	(249%)
Income taxes (benefits)		(16)		(8)		(39)		16		70	338%	NM		(92)		39	NM
Income (loss) from continuing operations		(36)		(15)		(180)		(777)		(110)	86%	(206%)		(207)		(1,082)	(423%)
Income (loss) from discontinued operations, net of taxes		-		-		-		-		-	-	-		-		-	-
Noncontrolling interests		-		-		-		-		-	-	-		-		-	-
Net income (loss)	$	(36)	$	(15)	$	(180)	$	(777)	$	(110)	86%	(206%)	$	(207)	$	(1,082)	(423%)

(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)

2Q25 includes (i) an approximately $186 million loss recorded in revenue (approximately $157 million after tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $37 million in operating expenses (approximately $26 million after tax) primarily related to separation costs in Mexico. For additional information, see Citi’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025.

(3)	4Q24 includes approximately $56 million in operating expenses (approximately $39 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi’s Annual Report on Form 10-K for the year ended December 31, 2024.

(4)

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

(5)

3Q25 includes approximately $766 million in operating expenses (approximately $744 million after-tax), driven by a goodwill impairment charge in Mexico ($726 million ($714 million after-tax)) and separation costs in Mexico. For additional information, see Citi’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025.

(6)	4Q25 includes approximately $40 million in operating expenses (approximately $28 million after-tax), primarily related to separation costs in Mexico.

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	4Q24		3Q25		4Q25⁽⁵⁾		4Q24		3Q25		4Q25⁽⁵⁾		4Q24	3Q25	4Q25⁽⁵⁾
Assets
Deposits with banks	$	284,050	$	332,245	$	334,503	$	3,010	$	3,435	$	3,190	4.22%	4.10%	3.78%
Securities borrowed and purchased under resale agreements⁽⁶⁾		324,484		357,804		364,353		6,847		7,003		7,047	8.39%	7.77%	7.67%
Trading account assets⁽⁷⁾		408,741		523,334		523,690		4,494		5,289		5,317	4.37%	4.01%	4.03%
Investments		484,416		449,689		447,982		4,318		4,177		4,192	3.55%	3.69%	3.71%
Consumer loans		388,366		396,333		401,451		9,913		10,150		10,121	10.15%	10.16%	10.00%
Corporate loans		299,641		328,686		335,263		5,378		5,263		5,286	7.14%	6.35%	6.26%
Total loans (net of unearned income)⁽⁸⁾		688,007		725,019		736,714		15,291		15,413		15,407	8.84%	8.43%	8.30%
Other interest-earning assets		71,125		83,974		96,205		1,112		1,400		1,521	6.22%	6.61%	6.27%
Total average interest-earning assets	$	2,260,823	$	2,472,065	$	2,503,447	$	35,072	$	36,717	$	36,674	6.17%	5.89%	5.81%

Liabilities
Deposits	$	1,116,527	$	1,180,367	$	1,218,253	$	9,361	$	9,163	$	8,680	3.34%	3.08%	2.83%
Securities loaned and sold under repurchase agreements⁽⁶⁾		317,665		401,821		384,902		6,628		7,356		7,101	8.30%	7.26%	7.32%
Trading account liabilities⁽⁷⁾		91,601		107,815		103,820		933		755		753	4.05%	2.78%	2.88%
Short-term borrowings and other interest-bearing liabilities		123,004		147,175		154,999		1,830		1,933		1,907	5.92%	5.21%	4.88%
Long-term debt⁽⁹⁾		177,288		187,340		186,846		2,562		2,543		2,543	5.75%	5.39%	5.40%
Total average interest-bearing liabilities	$	1,826,085	$	2,024,518	$	2,048,820	$	21,314	$	21,750	$	20,984	4.64%	4.26%	4.06%


Net interest income as a % of average interest-earning assets (NIM)⁽⁹⁾							$	13,758	$	14,967	$	15,690	2.42%	2.40%	2.49%

4Q25 increase (decrease) from:													7 bps	9 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 $25 million for 4Q24, $27 million for 3Q25 and $25 million for 4Q25.

(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)	4Q25 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

END-OF-PERIOD LOANS⁽¹⁾⁽²⁾

(In billions of dollars)

											4Q25 Increase/
	4Q		1Q		2Q		3Q		4Q		(Decrease) from
	2024		2025		2025		2025		2025		3Q25	4Q24

Corporate loans by region
North America	$	130.8	$	138.7	$	146.5	$	150.1	$	155.2	3%	19%
International		170.6		177.0		183.1		185.2		188.5	2%	10%
Total corporate loans	$	301.4	$	315.7	$	329.6	$	335.3	$	343.7	3%	14%

Corporate loans by segment and reporting unit
Services	$	87.9	$	98.0	$	96.4	$	99.4	$	99.5	-	13%
Markets		125.3		129.8		144.3		149.7		159.4	6%	27%
Banking		82.1		81.4		81.9		78.8		77.2	(2%)	(6%)
All Other - Legacy Franchises - Mexico SBMM & AFG⁽³⁾		6.1		6.5		7.0		7.4		7.6	3%	25%
Total corporate loans	$	301.4	$	315.7	$	329.6	$	335.3	$	343.7	3%	14%

Wealth by region
North America	$	98.0	$	96.7	$	98.0	$	97.9	$	95.9	(2%)	(2%)
International		49.5		50.6		52.7		53.5		54.1	1%	9%
Total	$	147.5	$	147.3	$	150.7	$	151.4	$	150.0	(1%)	2%

USPB⁽⁴⁾
Branded Cards	$	121.1	$	116.3	$	120.2	$	121.2	$	125.3	3%	3%
Credit cards		117.3		112.6		116.6		117.4		121.5	3%	4%
Personal installment loans (PIL)		3.8		3.7		3.6		3.8		3.8	-	-
Retail Services		53.8		50.2		50.7		50.1		52.2	4%	(3%)
Retail Banking		46.8		48.2		49.3		50.3		54.3	8%	16%
Total	$	221.7	$	214.7	$	220.2	$	221.6	$	231.8	5%	5%

All Other—Consumer
Mexico Consumer	$	17.2	$	17.9	$	20.0	$	21.2	$	22.5	6%	31%
Asia Consumer⁽⁵⁾		4.7		4.5		3.0		2.7		2.5	(7%)	(47%)
Legacy Holdings Assets (LHA)		2.0		1.9		1.9		1.7		1.7	-	(15%)
Total	$	23.9	$	24.3	$	24.9	$	25.6	$	26.7	4%	12%

Total consumer loans	$	393.1	$	386.3	$	395.8	$	398.6	$	408.5	2%	4%

Total loans—EOP	$	694.5	$	702.1	$	725.3	$	733.9	$	752.2	2%	8%

Total loans—average	$	688.0	$	690.7	$	712.2	$	725.0	$	736.7	2%	7%

NCLs as a % of total average loans		1.30%		1.44%		1.26%		1.21%		1.18%	0 bps	(12) bps

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

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

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

(4)	See footnote 5 on page 9.

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

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 16

END-OF-PERIOD DEPOSITS

(In billions of dollars)

																	4Q25 Increase/
		4Q			1Q			2Q			3Q			4Q			(Decrease) from
		2024			2025			2025			2025			2025			3Q25		4Q24

Services, Markets, and Banking by region
North America		$	397.8		$	406.2		$	414.4		$	428.4		$	452.8		6%		14%
International			422.5			444.4			477.2			483.1			481.3		-		14%
Total		$	820.3		$	850.6		$	891.6		$	911.5		$	934.1		2%		14%

Treasury and Trade Solutions		$	680.7		$	692.1		$	726.4		$	740.0		$	779.4		5%		14%
Securities Services			126.3			140.9			148.1			151.3			138.4		(9%)		10%
Services		$	807.0		$	833.0		$	874.5		$	891.3		$	917.8		3%		14%
Markets⁽¹⁾			12.7			17.1			16.7			19.4			15.9		(18%)		25%
Banking			0.6			0.5			0.4			0.8			0.4		(50%)		(33%)
Total		$	820.3		$	850.6		$	891.6		$	911.5		$	934.1		2%		14%

Wealth
North America		$	189.5		$	186.3		$	186.8		$	188.9		$	197.2		4%		4%
International			123.3			122.4			123.1			129.2			126.9		(2%)		3%
Total		$	312.8		$	308.7		$	309.9		$	318.1		$	324.1		2%		4%

USPB		$	89.4		$	92.4		$	90.5		$	89.6		$	88.4		(1%)		(1%)

All Other
Legacy Franchises
Mexico Consumer		$	26.0		$	25.6		$	28.5		$	29.7		$	33.3		12%		28%
Mexico SBMM—corporate			8.1			9.7			9.9			10.9			10.5		(4%)		30%
Asia Consumer⁽²⁾			7.5			7.4			1.5			1.3			1.1		(15%)		(85%)
Legacy Holdings Assets (LHA)⁽³⁾			0.2			0.1			0.1			0.1			0.1		-		(50%)
Corporate/Other⁽¹⁾			20.2			21.9			25.7			22.7			12.0		(47%)		(41%)
Total		$	62.0		$	64.7		$	65.7		$	64.7		$	57.0		(12%)		(8%)

Total deposits—EOP		$	1,284.5		$	1,316.4		$	1,357.7		$	1,383.9		$	1,403.6		1%		9%

Total deposits—average		$	1,320.4		$	1,305.0		$	1,342.8		$	1,382.2		$	1,422.3		3%		8%

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

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

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

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 17

ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD

(In millions of dollars, except ratios)

																															ACLL/EOP
	Balance		Builds (Releases)										FY 2024		Balance		Builds (Releases)										YTD 2025		Balance		Loans
	12/31/23		1Q24		2Q24		3Q24		4Q24		FY 2024		FX/Other		12/31/24		1Q25		2Q25		3Q25		4Q25		YTD 2025		FX/Other⁽¹⁾		12/31/25		12/31/25

Allowance for credit losses on loans (ACLL)
Services	$	397	$	34	$	(100)	$	7	$	(71)	$	(130)	$	(3)	$	264	$	24	$	53	$	(4)	$	(18)	$	55	$	8	$	327
Markets		820		120		(111)		37		167		213		(3)		1,030		48		53		(44)		(73)		(16)		13		1,027
Banking		1,376		(89)		(51)		62		(122)		(200)		(9)		1,167		78		137		38		136		389		22		1,578
Legacy Franchises corporate (Mexico SBMM & AFG⁽²⁾)		121		(8)		(12)		(3)		10		(13)		(13)		95		4		16		(12)		6		14		12		121
Total corporate ACLL	$	2,714	$	57	$	(274)	$	103	$	(16)	$	(130)	$	(28)	$	2,556	$	154	$	259	$	(22)	$	51	$	442	$	55	$	3,053	0.91%
U.S. Cards⁽³⁾	$	12,626	$	326	$	357	$	10	$	221	$	914	$	20	$	13,560	$	(169)	$	(12)	$	44	$	(102)	$	(239)	$	3	$	13,324	7.67%
Installment loans⁽⁴⁾		319		13		30		30		32		105		1		425		(5)		7		11		(15)		(2)		(1)		422
Retail Banking⁽⁴⁾		157		(2)		(5)		1		(7)		(13)		-		144		3		(1)		9		4		15		-		159
Total USPB	$	13,102	$	337	$	382	$	41	$	246	$	1,006	$	21	$	14,129	$	(171)	$	(6)	$	64	$	(113)	$	(226)	$	2	$	13,905
Wealth		767		(190)		(43)		8		(11)		(236)		(2)		529		61		(64)		(25)		2		(26)		7		510
All Other—consumer		1,562		(85)		11		58		102		86		(288)		1,360		58		54		28		70		210		209		1,779
Total consumer ACLL	$	15,431	$	62	$	350	$	107	$	337	$	856	$	(269)	$	16,018	$	(52)	$	(16)	$	67	$	(41)	$	(42)	$	218	$	16,194	3.96%
Total ACLL	$	18,145	$	119	$	76	$	210	$	321	$	726	$	(297)	$	18,574	$	102	$	243	$	45	$	10	$	400	$	273	$	19,247	2.58%
Allowance for credit losses on unfunded lending commitments (ACLUC)	$	1,728	$	(98)	$	(8)	$	105	$	(118)	$	(119)	$	(8)	$	1,601	$	108	$	(19)	$	100	$	13	$	202	$	30	$	1,833
Total ACLL and ACLUC		19,873		21		68		315		203		607		(305)		20,175		210		224		145		23		602		303		21,080
Other⁽⁵⁾⁽⁶⁾		1,883		14		107		160		131		412		(293)		2,002		34		388		74		(17)		479		(2,188)		293
Total ACL	$	21,756	$	35	$	175	$	475	$	334	$	1,019	$	(598)	$	22,177	$	244	$	612	$	219	$	6	$	1,081	$	(1,885)	$	21,373

(1)	Primarily includes FX translation on the EOP ACL balances.

(2)	See footnote 3 on page 16.

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

(4)	See footnote 5 on page 9.

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

(6)	The decrease in the Other ACL at December 31, 2025, represents the held-for-sale accounting treatment for A.O. Citibank (Russia), wherein the assets and liabilities of A.O. Citibank were reclassified to Other assets and Other liabilities.

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)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)

Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period	$	18,356	$	18,574	$	18,726	$	19,123	$	19,206	-	5%	$	18,145	$	18,574	2%
Gross credit (losses) on loans		(2,680)		(2,926)		(2,723)		(2,726)		(2,724)	-	(2%)		(10,694)		(11,099)	(4%)
Gross recoveries on loans		438		467		489		512		534	4%	22%		1,694		2,002	18%
Net credit (losses) / recoveries on loans (NCLs)		(2,242)		(2,459)		(2,234)		(2,214)		(2,190)	(1%)	(2%)		(9,000)		(9,097)	1%
Replenishment of NCLs		2,242		2,459		2,234		2,214		2,190	(1%)	(2%)		9,000		9,097	1%
Net reserve builds / (releases) for loans		321		102		243		45		10	(78%)	(97%)		726		400	(45%)
Provision for credit losses on loans (PCLL)		2,563		2,561		2,477		2,259		2,200	(3%)	(14%)		9,726		9,497	(2%)
Other, net^{(1)(2)(3)(4)(5)(6)}		(103)		50		154		38		31	(18%)	NM		(297)		273	NM
ACLL at end of period (a)	$	18,574	$	18,726	$	19,123	$	19,206	$	19,247	-	4%	$	18,574	$	19,247	4%

Allowance for credit losses on unfunded lending commitments (ACLUC)⁽⁷⁾ (a)	$	1,601	$	1,720	$	1,721	$	1,820	$	1,833	1%	14%	$	1,601	$	1,833	14%

Provision (release) for credit losses on unfunded lending commitments	$	(118)	$	108	$	(19)	$	100	$	13	(87%)	NM	$	(119)	$	202	NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]	$	20,175	$	20,446	$	20,844	$	21,026	$	21,080	-	4%	$	20,175	$	21,080	4%

Total ACLL as a percentage of total loans⁽⁸⁾		2.71%		2.70%		2.67%		2.65%		2.58%	(7) bps	(13) bps

Consumer
ACLL at beginning of period	$	15,765	$	16,018	$	16,001	$	16,100	$	16,205	1%	3%	$	15,431	$	16,018	4%

NCLs		(2,191)		(2,277)		(2,185)		(2,122)		(2,148)	1%	(2%)		(8,603)		(8,732)	1%
Replenishment of NCLs		2,191		2,277		2,185		2,122		2,148	1%	(2%)		8,603		8,732	1%
Net reserve builds / (releases) for loans		337		(52)		(16)		67		(41)	NM	NM		856		(42)	NM
Provision for credit losses on loans (PCLL)		2,528		2,225		2,169		2,189		2,107	(4%)	(17%)		9,459		8,690	(8%)
Other, net^{(1)(2)(3)(4)(5)(6)}		(84)		35		115		38		30	(21%)	NM		(269)		218	NM
ACLL at end of period (b)	$	16,018	$	16,001	$	16,100	$	16,205	$	16,194	-	1%	$	16,018	$	16,194	1%

Consumer ACLUC⁽⁷⁾ (b)	$	34	$	31	$	24	$	20	$	24	20%	(29%)	$	34	$	24	(29%)

Provision (release) for credit losses on unfunded lending commitments	$	(2)	$	(3)	$	(1)	$	(4)	$	3	NM	NM	$	(25)	$	(5)	80%

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]	$	16,052	$	16,032	$	16,124	$	16,225	$	16,218	-	1%	$	16,052	$	16,218	1%

Consumer ACLL as a percentage of total consumer loans		4.08%		4.14%		4.07%		4.07%		3.96%	(11) bps	(12) bps

Corporate
ACLL at beginning of period	$	2,591	$	2,556	$	2,725	$	3,023	$	3,001	(1%)	16%	$	2,714	$	2,556	(6%)

NCLs		(51)		(182)		(49)		(92)		(42)	(54%)	(18%)		(397)		(365)	(8%)
Replenishment of NCLs		51		182		49		92		42	(54%)	(18%)		397		365	(8%)
Net reserve builds / (releases) for loans		(16)		154		259		(22)		51	NM	NM		(130)		442	NM
Provision for credit losses on loans (PCLL)		35		336		308		70		93	33%	166%		267		807	202%
Other, net⁽¹⁾		(19)		15		39		-		1	NM	NM		(28)		55	NM
ACLL at end of period (c)	$	2,556	$	2,725	$	3,023	$	3,001	$	3,053	2%	19%	$	2,556	$	3,053	19%

Corporate ACLUC⁽⁷⁾ (c)	$	1,567	$	1,689	$	1,697	$	1,800	$	1,809	1%	15%	$	1,567	$	1,809	15%

Provision (release) for credit losses on unfunded lending commitments	$	(116)	$	111	$	(18)	$	104	$	10	(90%)	NM	$	(94)	$	207	NM

Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]	$	4,123	$	4,414	$	4,720	$	4,801	$	4,862	1%	18%	$	4,123	$	4,862	18%

Corporate ACLL as a percentage of total corporate loans⁽⁹⁾		0.87%		0.89%		0.94%		0.92%		0.91%	(1) bps	4 bps

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

Page 19

NON-ACCRUAL ASSETS

(In millions of dollars)

											4Q25 Increase/
	4Q		1Q		2Q		3Q		4Q		(Decrease) from
	2024		2025		2025		2025		2025		3Q25	4Q24

Corporate non-accrual loans by region⁽¹⁾
North America	$	757	$	822	$	953	$	1,280	$	1,145	(11%)	51%
International		620		554		769		791		856	8%	38%
Total	$	1,377	$	1,376	$	1,722	$	2,071	$	2,001	(3%)	45%

Corporate non-accrual loans⁽¹⁾
Banking	$	498	$	510	$	502	$	820	$	919	12%	85%
Services		65		110		134		187		337	80%	418%
Markets		715		631		932		926		622	(33%)	(13%)
Mexico SBMM & AFG		99		125		154		138		123	(11%)	24%
Total	$	1,377	$	1,376	$	1,722	$	2,071	$	2,001	(3%)	45%

Consumer non-accrual loans⁽¹⁾
Wealth	$	404	$	415	$	637	$	583	$	526	(10%)	30%
USPB		290		305		329		325		343	6%	18%
Mexico Consumer		411		416		485		526		585	11%	42%
Asia Consumer⁽²⁾		19		20		16		16		15	(6%)	(21%)
Legacy Holdings Assets—Consumer		186		172		165		157		149	(5%)	(20%)
Total	$	1,310	$	1,328	$	1,632	$	1,607	$	1,618	1%	24%

Total non-accrual loans (NAL)	$	2,687	$	2,704	$	3,354	$	3,678	$	3,619	(2%)	35%

Other real estate owned (OREO)⁽³⁾	$	18	$	21	$	26	$	29	$	22	(24%)	22%


NAL as a percentage of total loans		0.39%		0.39%		0.46%		0.50%		0.48%	(2) bps	9 bps

ACLL as a percentage of NAL		691%		693%		570%		522%		532%

(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 in Poland (through 1Q25) 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,

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

		December 31,			March 31,			June 30,			September 30,			December 31,
CET1 Capital and Ratio and Components⁽¹⁾		2024			2025			2025			2025			2025⁽²⁾

Citigroup common stockholders’ equity⁽³⁾		$	190,815		$	194,125		$	196,931		$	194,038		$	192,304
Add: qualifying noncontrolling interests			186			192			200			217			214
Regulatory capital adjustments and deductions:
Add:
CECL transition provision⁽⁴⁾			757			-			-			-			-
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax			(220)			(213)			(141)			(116)			10
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax			(910)			(32)			(408)			(1,443)			(1,919)
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)⁽⁵⁾			17,994			18,122			18,524			17,876			18,482
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs			3,357			3,291			3,236			3,169			3,135
Defined benefit pension plan net assets and other			1,504			1,532			1,610			1,725			1,831
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards⁽⁶⁾			11,628			11,517			11,163			10,807			10,784
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs⁽⁶⁾⁽⁸⁾			3,042			4,261			4,204			3,757			3,119
CET1 Capital		$	155,363		$	155,839		$	158,943		$	158,480		$	157,076
Risk-Weighted Assets (RWA)⁽⁴⁾		$	1,139,988		$	1,162,306		$	1,178,756		$	1,194,274		$	1,192,528
CET1 Capital ratio (CET1/RWA)			13.63%			13.41%			13.48%			13.27%			13.2%

Supplementary Leverage Ratio and Components
CET1⁽⁴⁾		$	155,363		$	155,839		$	158,943		$	158,480		$	157,076
Additional Tier 1 Capital (AT1)⁽⁷⁾			19,164			19,675			17,676			20,313			22,660
Total Tier 1 Capital (T1C) (CET1 + AT1)		$	174,527		$	175,514		$	176,619		$	178,793		$	179,736
Total Leverage Exposure (TLE)⁽⁴⁾		$	2,985,418		$	3,033,450		$	3,195,323		$	3,236,413		$	3,275,264
Supplementary Leverage ratio (T1C/TLE)⁽⁴⁾			5.85%			5.79%			5.53%			5.52%			5.5%

(1)	See footnote 3 on page 1.

(2)	December 31, 2025 is preliminary.

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

(4)	See footnote 4 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 temporary 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.

Reclassified to conform to the current period’s presentation.

Page 22

TANGIBLE COMMON EQUITY, COMMON EQUITY, BOOK VALUE

PER SHARE, TANGIBLE BOOK VALUE PER SHARE (TBVPS),

RETURNS ON COMMON EQUITY (RoCE) AND

TANGIBLE COMMON EQUITY (RoTCE)

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

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)
Tangible Common Equity, Book Value Per Share and Tangible Book Value Per Share
Common stockholders’ equity	$	190,748	$	194,058	$	196,872	$	193,973	$	192,241
Less:
Goodwill		19,300		19,422		19,878		19,126		19,098
Identifiable Intangible assets (other than MSRs)		3,734		3,679		3,639		3,582		3,525
Goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS		16		16		16		-		-
Tangible common equity (TCE)⁽¹⁾	$	167,698	$	170,941	$	173,339	$	171,265	$	169,618
Common shares outstanding (CSO)		1,877.1		1,867.7		1,840.9		1,789.3		1,747.5
Book value per share (common equity/CSO)	$	101.62	$	103.90	$	106.94	$	108.41	$	110.01
Tangible book value per share (TCE/CSO)⁽¹⁾	$	89.34	$	91.52	$	94.16	$	95.72	$	97.06

Return on Common Equity and Return on Tangible Common Equity (RoTCE)

Net Income	$	2,856	$	4,064	$	4,019	$	3,752	$	2,471			$	12,682	$	14,306
Preferred Dividends		256		269		287		274		284				1,054		1,114
Net Income Available to Common Shareholders		2,600		3,795		3,732		3,478		2,187				11,628		13,192
Average Common Stockholders’ Equity		191,624		191,794		195,622		195,471		193,205				190,070		194,023
Less:
Average Goodwill & Intangibles		22,981		22,474		23,482		23,169		22,763				23,349		23,451
Average TCE	$	168,643	$	169,320	$	172,140	$	172,302	$	170,442			$	166,721	$	170,572

Return on Average Common Stockholders’ Equity (RoCE)		5.4%		8.0%		7.7%		7.1%		4.5%				6.1%		6.8%
RoTCE		6.1%		9.1%		8.7%		8.0%		5.1%				7.0%		7.7%

Average TCE (in billions of dollars)⁽¹⁾⁽²⁾
Services	$	24.9	$	24.7	$	24.7	$	24.7	$	24.7			$	24.9	$	24.7	(1%)
Markets		54.0		50.4		50.4		50.4		50.4				54.0		50.4	(7%)
Banking		21.8		20.6		20.6		20.6		20.6				21.8		20.6	(6%)
Wealth		13.2		12.3		12.3		12.3		12.3				13.2		12.3	(7%)
USPB		25.2		23.4		23.4		23.4		23.4				25.2		23.4	(7%)
All Other		29.5		37.9		40.7		40.9		39.0				27.6		39.2	42%
Total Citi average TCE	$	168.6	$	169.3	$	172.1	$	172.3	$	170.4	(1%)	1%	$	166.7	$	170.6	2%
Add:
Average goodwill	$	19.4	$	18.8	$	19.8	$	19.6	$	19.2			$	20.5	$	19.8	(3%)
Average intangible assets (other than MSRs)		3.6		3.7		3.7		3.6		3.6				2.9		3.6	24%
Average goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS		-		-		-		-		-				-		-	-
Total Citi average common stockholders’ equity (in billions of dollars)	$	191.6	$	191.8	$	195.6	$	195.5	$	193.2	(1%)	1%	$	190.1	$	194.0	2%


Income (loss) available to common shareholders (in billions of dollars)⁽³⁾
Services	$	1.9	$	1.6	$	1.4	$	1.8	$	2.2	22%	16%	$	6.5	$	7.1	9%
Markets		1.0		1.8		1.7		1.6		0.8	(50%)	(20%)		4.9		5.9	20%
Banking		0.4		0.5		0.5		0.6		0.7	17%	75%		1.5		2.3	53%
Wealth		0.3		0.3		0.5		0.4		0.3	(25%)	-		1.0		1.5	50%
USPB		0.4		0.7		0.6		0.9		0.8	(11%)	100%		1.4		3.1	121%
All Other—managed basis⁽³⁾		(1.4)		(1.1)		(0.8)		(1.0)		(2.5)	(150%)	(79%)		(3.5)		(5.6)	(60%)
Reconciling Items—divestiture-related impacts⁽⁴⁾		-		-		(0.2)		(0.8)		(0.1)	88%	NM		(0.2)		(1.1)	(450%)
Total Citi -- Income (loss) available to common shareholders⁽³⁾	$	2.6	$	3.8	$	3.7	$	3.5	$	2.2	(37%)	(15%)	$	11.6	$	13.2	14%


RoTCE⁽¹⁾
Services		29.9%		26.2%		23.3%		28.9%		36.1%	720 bps	620 bps		26.0%		28.6%	260 bps
Markets		7.4%		14.3%		13.8%		12.3%		6.2%	(610) bps	(120) bps		9.1%		11.6%	250 bps
Banking		6.5%		10.7%		9.0%		12.3%		13.2%	90 bps	670 bps		7.0%		11.3%	430 bps
Wealth		10.1%		9.4%		16.1%		12.1%		10.9%	(120) bps	80 bps		7.6%		12.1%	450 bps
USPB		6.2%		12.9%		11.1%		14.5%		14.3%	(20) bps	810 bps		5.5%		13.2%	770 bps
All Other—managed basis⁽³⁾		(17.9%)		(12.2%)		(8.4%)		(9.5%)		(26.4%)	(1,690) bps	(850) bps		(12.6%)		(14.2%)	(160) bps
Reconciling Items—divestiture-related impacts⁽⁴⁾		N/A		N/A		N/A		N/A		N/A				N/A		N/A

Total Citi -- RoTCE		6.1%		9.1%		8.7%		8.0%		5.1%	(290) bps	(100) bps		7.0%		7.7%	70 bps

(1)	TCE, TBVPS and RoTCE are non-GAAP financial measures. RoTCE represents annualized net income available to common shareholders as a percentage of average TCE.

(2)

Tangible Common Equity is allocated to each segment based on Citi’s allocation methodology which incorporates Basel III standardized risk-weighted assets, the global systemically important banks (GSIB) surcharge, a simulation of TCE in severe stress environments, as well as a leverage component. The allocation methodology, including underlying assumptions and judgments used to allocate TCE, are periodically reassessed and as a result, the TCE allocated to the segments may change.

(3)	Represents Net income (loss), less Preferred Stock dividends. See table above for dividend amounts.

(4)	Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other - Legacy Franchises on a managed basis. For a reconciliation of these results, see page 14.

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 23

FX Impact

(In millions of dollars)

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)
Foreign currency (FX) translation impact

Total Citigroup

Total revenues - as reported	$	19,465	$	21,596	$	21,668	$	22,090	$	19,871	(10%)	2%	$	80,722	$	85,225	6%
Impact of FX translation⁽¹⁾		313		372		88		44		-				(456)		-
Total revenues - Ex-FX⁽¹⁾	$	19,778	$	21,968	$	21,756	$	22,134	$	19,871	(10%)	-	$	80,266	$	85,225	6%

Total operating expenses - as reported	$	13,070	$	13,425	$	13,577	$	14,290	$	13,840	(3%)	6%	$	53,567	$	55,132	3%
Impact of FX translation⁽¹⁾		296		322		31		18		-				47		-
Total operating expenses - Ex-FX⁽¹⁾	$	13,366	$	13,747	$	13,608	$	14,308	$	13,840	(3%)	4%	$	53,614	$	55,132	3%

Total provisions for credit losses & PBC - as reported	$	2,593	$	2,723	$	2,872	$	2,450	$	2,220	(9%)	(14%)	$	10,109	$	10,265	2%
Impact of FX translation⁽¹⁾		215		71		20		5		-				109		-
Total provisions for credit losses & PBC - Ex-FX⁽¹⁾	$	2,808	$	2,794	$	2,892	$	2,455	$	2,220	(10%)	(21%)	$	10,218	$	10,265	-

Total EBIT - as reported	$	3,802	$	5,448	$	5,219	$	5,350	$	3,811	(29%)	-	$	17,046	$	19,828	16%
Impact of FX translation⁽¹⁾		(198)		(21)		37		21		-				(612)		-
Total EBIT - Ex-FX⁽¹⁾	$	3,604	$	5,427	$	5,256	$	5,371	$	3,811	(29%)	6%	$	16,434	$	19,828	21%

Total EOP Loans - as reported	$	695	$	702	$	725	$	734	$	752	2%	8%
Impact of FX translation⁽²⁾		14		10		1		-		-
Total EOP Loans - Ex-FX⁽²⁾	$	709	$	712	$	726	$	734	$	752	2%	6%

Total EOP Deposits - as reported	$	1,285	$	1,316	$	1,358	$	1,384	$	1,404	1%	9%
Impact of FX translation⁽²⁾		33		22		-		1		-
Total EOP Deposits - Ex-FX⁽²⁾	$	1,318	$	1,338	$	1,358	$	1,385	$	1,404	1%	7%

Total Average Loans - as reported	$	688	$	691	$	712	$	725	$	737	2%	7%	$	684	$	716	5%
Impact of FX translation⁽²⁾		8		10		3		-		-				1		-
Total Average Loans - Ex-FX⁽²⁾	$	696	$	701	$	715	$	725	$	737	2%	6%	$	685	$	716	5%

Total Average Deposits - as reported	$	1,320	$	1,305	$	1,343	$	1,382	$	1,422	3%	8%	$	1,317	$	1,363	3%
Impact of FX translation⁽²⁾		20		24		6		(1)		-				3		-
Total Average Deposits - Ex-FX⁽²⁾	$	1,340	$	1,329	$	1,349	$	1,381	$	1,422	3%	6%	$	1,320	$	1,363	3%

Legacy Franchises - Mexico Consumer/SBMM

All Other - Legacy Franchises (LF) Mexico Consumer/SBMM Revenues - As Reported	$	1,422	$	1,467	$	1,536	$	1,722	$	1,775	3%	25%	$	6,141	$	6,500	6%
Impact of FX translation⁽²⁾		143		158		68		26		-				(189)		-
All Other - LF Mexico Consumer/SBMM Revenues - Ex-FX		1,565		1,625		1,604		1,748		1,775	2%	13%	$	5,952	$	6,500	9%


All Other - Legacy Franchises (LF) Mexico Consumer/SBMM Expenses - As Reported	$	1,072	$	1,060	$	984	$	1,772	$	962	(46%)	(10%)	$	4,415	$	4,778	8%
Impact of FX translation⁽²⁾		110		129		51		31		-				(145)		-
All Other - LF Mexico Consumer/SBMM Expenses - Ex-FX		1,182		1,189		1,035		1,803		962	(47%)	(19%)	$	4,270	$	4,778	12%

(1)	Reflects the impact of foreign currency (FX) translation into U.S. dollars at the fourth quarter of 2025 and year-to-date 2025 average exchange rates for all periods presented. Citigroup’s results of operations excluding the impact of FX translation are non-GAAP financial measures.

(2)	Reflects the impact of foreign currency (FX) translation into U.S. dollars at the December 31, 2025 end-of-period exchange rates for all periods presented. Citigroup’s results of operations excluding the impact of FX translation are non-GAAP financial measures.

NM Not meaningful.

Reclassified to conform to the current period’s presentation.

Page 24

Reconciliation of Adjusted Results (Page 1)

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

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)
Total Citigroup Revenues, Net Interest Income (NII) and Non-Interest Revenues (NIR)

Total Citigroup Revenues - As Reported	$	19,465	$	21,596	$	21,668	$	22,090	$	19,871	(10%)	2%	$	80,722	$	85,225	6%
Less:
Total Divestiture-related Impacts on Revenues⁽¹⁾		4		-		(177)		2		(1)				26		(176)
Total Citigroup Revenues, Excluding Divestitures Impacts^(*)	$	19,461	$	21,596	$	21,845	$	22,088	$	19,872	(10%)	2%	$	80,696	$	85,401	6%

Total Citigroup Revenues - As Reported	$	19,465	$	21,596	$	21,668	$	22,090	$	19,871	(10%)	2%	$	80,722	$	85,225	6%
Less:
Notable Item - Russia HFS Accounting Treatment Loss Impact on Revenues⁽²⁾		-		-		-		-		(1,173)				-		(1,173)
Total Citigroup Revenues, Excluding Notable Item(s) Impact^(*)	$	19,465	$	21,596	$	21,668	$	22,090	$	21,044	(5%)	8%	$	80,722	$	86,398	7%

Total Citigroup Net Interest Income (NII) - As Reported	$	13,733	$	14,012	$	15,175	$	14,940	$	15,665	5%	14%	$	54,095	$	59,792	11%
Markets NII⁽³⁾		1,856		2,013		2,902		2,251		2,843				7,005		10,009
Citigroup NII Ex-Markets^(*)	$	11,877	$	11,999	$	12,273	$	12,689	$	12,822	1%	8%	$	47,090	$	49,783	6%

Total Citigroup Non-Interest Revenue (NIR) - As Reported	$	5,732	$	7,584	$	6,493	$	7,150	$	4,206	(41%)	(27%)	$	26,627	$	25,433	(4%)
Markets NIR⁽³⁾		2,720		3,973		2,977		3,312		1,699				12,831		11,961
Citigroup NIR Ex-Markets^(*)	$	3,012	$	3,611	$	3,516	$	3,838	$	2,507	(35%)	(17%)	$	13,796	$	13,472	(2%)
Less:
Notable Item - Russia HFS Accounting Treatment Loss Impact on Revenues⁽⁴⁾		-		-		-		-		(1,192)				-		(1,192)
Citigroup NIR Ex-Markets, Excluding Notable Item(s) Impact^(*)	$	3,012	$	3,611	$	3,516	$	3,838	$	3,699	(4%)	23%	$	13,796	$	14,664	6%

Total Citigroup Operating Expenses

Total Citigroup Operating Expenses - As Reported	$	13,070	$	13,425	$	13,577	$	14,290	$	13,840	(3%)	6%	$	53,567	$	55,132	3%
Less:
Notable Item - Mexico Goodwill Impairment Charge Impact on Operating Expenses⁽⁵⁾		-		-		-		726		-				-		726
Total Citigroup Operating Expenses, Excluding Notable Item(s)^(*)	$	13,070	$	13,425	$	13,577	$	13,564	$	13,840	2%	6%	$	53,567	$	54,406	2%

Total Citigroup Revenues - As Reported		19,465		21,596		21,668		22,090		19,871	(10%)	2%		80,722		85,225	6%
Total Citigroup Operating Expenses - As Reported	$	13,070	$	13,425	$	13,577	$	14,290	$	13,840	(3%)	6%	$	53,567	$	55,132	3%
Total Citigroup Efficiency Ratio - As Reported		67.1%		62.2%		62.7%		64.7%		69.6%	490 bps	250 bps		66.4%		64.7%	(170) bps
Less:
Notable Item(s) Impact(s) on Revenues⁽²⁾		-		-		-		-		(1,173)				-		(1,173)
Total Citigroup Revenues, Excluding Notable Item(s)^(*)	$	19,465	$	21,596	$	21,668	$	22,090	$	21,044	(5%)	8%	$	80,722	$	86,398	7%
Less:
Notable Item(s) Impact(s) on Operating Expenses⁽⁵⁾		-		-		-		726		-				-		726
Total Citigroup Operating Expenses, Excluding Notable Item(s)^(*)	$	13,070	$	13,425	$	13,577	$	13,564	$	13,840	2%	6%	$	53,567	$	54,406	2%
Total Citigroup Efficiency Ratio, Excluding Notable Item(s)^(*)		67.1%		62.2%		62.7%		61.4%		65.8%	440 bps	(130) bps		66.4%		63.0%	(340) bps

*	Represents a non-GAAP financial measure.

(1)	See footnote 2 on page 14 for details.

(2)	See footnote 5 on page 12 for details.

(3)	See page 6 for details.

(4)	See footnote 5 on page 12 for details. The amount on this line adds the $19 million impact for Markets because it is already deducted in the Citigroup Ex-Markets NIR number above.

(5)	See footnote 5 on page 14 for details.

Page 25

Reconciliation of Adjusted Results (Page 2)

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

											4Q25 Increase/		Full		Full		FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year		Year		FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024		2025		(Decrease)
Total Citigroup Operating Expenses

Total Citigroup Other Operating Expenses⁽¹⁾ - As Reported	$	2,778	$	2,483	$	2,472	$	3,386	$	3,168	(6%)	14%	$	11,293	$	11,509	2%
Less:
Notable Item - Mexico Goodwill Impairment Charge Impact on Other Operating Expenses⁽²⁾		-		-		-		726		-				-		726
Total Citigroup Other Operating Expenses, Excluding Notable Item(s)^(*)	$	2,778	$	2,483	$	2,472	$	2,660	$	3,168	19%	14%	$	11,293	$	10,783	(5%)

Notable Items Adjustments

Total Citigroup Net Income - As Reported	$	2,856	$	4,064	$	4,019	$	3,752	$	2,471	(34%)	(13%)	$	12,682	$	14,306	13%
Less Notable Items:
Russia HFS Accounting Treatment Loss Impact on Net Income⁽³⁾		-		-		-		-		(1,123)				-		(1,123)
Mexico Goodwill Impairment Charge Impact on Net Income⁽²⁾		-		-		-		(714)		-				-		(714)
Total Citigroup Net Income, Excluding Notable Items^(*)	$	2,856	$	4,064	$	4,019	$	4,466	$	3,594	(20%)	26%	$	12,682	$	16,143	27%

Total Citigroup Diluted EPS - As Reported	$	1.34	$	1.96	$	1.96	$	1.86	$	1.19	(36%)	(11%)	$	5.94	$	6.99	18%
Less:
Notable Item(s)⁽²⁾⁽³⁾		-		-		-		(0.38)		(0.62)				-		(0.98)
Total Citigroup Diluted EPS, Excluding Notable Items^(*)	$	1.34	$	1.96	$	1.96	$	2.24	$	1.81	(19%)	35%	$	5.94	$	7.97	34%

Total Citigroup Diluted EPS - As Reported	$	1.34	$	1.96	$	1.96	$	1.86	$	1.19	(36%)	(11%)	$	5.94	$	6.99	18%
Less:
Notable Item - Russia HFS Accounting Treatment Loss Impact on Net Income⁽³⁾		-		-		-		-		(0.62)				-		(0.60)
Total Citigroup Diluted EPS, Excluding Notable Items^(*)	$	1.34	$	1.96	$	1.96	$	1.86	$	1.81	(3%)	35%	$	5.94	$	7.59	28%

Total Citigroup RoCE - As Reported		5.4%		8.0%		7.7%		7.1%		4.5%	(260) bps	(90) bps		6.1%		6.8%	70 bps
Less:
Notable Item(s)⁽²⁾⁽³⁾		0 bps		0 bps		0 bps		(140) bps		(230) bps				0 bps		(90) bps
Total Citigroup RoCE, Excluding Notable Items^(*)		5.4%		8.0%		7.7%		8.5%		6.8%	(170) bps	140 bps		6.1%		7.7%	160 bps

Total Citigroup RoTCE - As Reported		6.1%		9.1%		8.7%		8.0%		5.1%	(290) bps	(100) bps		7.0%		7.7%	70 bps
Less:
Notable Item(s)⁽²⁾⁽³⁾		0 bps		0 bps		0 bps		(170) bps		(260) bps				0 bps		(110) bps
Total Citigroup RoTCE, Excluding Notable Items^(*)		6.1%		9.1%		8.7%		9.7%		7.7%	(200) bps	160 bps		7.0%		8.8%	180 bps

All Other (Managed Basis)^(4)(*)

All Other Revenues - Managed Basis^(*)	$	1,335	$	1,445	$	1,698	$	1,535	$	(248)	NM	NM	$	7,503	$	4,430	(41%)
Add:
Total Divestiture-related Impacts on Revenues⁽⁵⁾		4		-		(177)		2		(1)				26		(176)
All Other Revenues - U.S. GAAP	$	1,339	$	1,445	$	1,521	$	1,537	$	(249)	NM	NM	$	7,529	$	4,254	(43%)

All Other Operating Expenses - Managed Basis^(*)	$	2,162	$	2,224	$	2,276	$	2,168	$	2,025	(7%)	(6%)	$	9,030	$	8,693	(4%)
Add:
Total Divestiture-related Impacts on Operating Expenses⁽⁶⁾		56		34		37		766		40				318		877
All Other Operating Expenses - U.S. GAAP	$	2,218	$	2,258	$	2,313	$	2,934	$	2,065	(30%)	(7%)	$	9,348	$	9,570	2%

All Other Provisions For Credit Losses - Managed Basis^(*)	$	397	$	359	$	374	$	331	$	449	36%	13%	$	1,115	$	1,513	36%
Add:
Total Divestiture-related Impacts on Provisions For Credit Losses		-		(11)		5		(3)		(1)				7		(10)
All Other Provisions For Credit Losses - U.S. GAAP	$	397	$	348	$	379	$	328	$	448	37%	13%	$	1,122	$	1,503	34%

All Other EBIT - Managed Basis^(*)	$	(1,224)	$	(1,138)	$	(952)	$	(964)	$	(2,722)	(182%)	(122%)	$	(2,642)	$	(5,776)	(119%)
Add:
Total Divestiture-related Impacts on Revenue⁽⁵⁾		4		-		(177)		2		(1)				26		(176)
Total Divestiture-related Impacts on Operating Expenses⁽⁶⁾		(56)		(34)		(37)		(766)		(40)				(318)		(877)
Total Divestiture-related Impacts on Provisions For Credit Losses		-		11		(5)		3		1				(7)		10
All Other EBIT - U.S. GAAP	$	(1,276)	$	(1,161)	$	(1,171)	$	(1,725)	$	(2,762)	(60%)	(116%)	$	(2,941)	$	(6,819)	(132%)

*	Represents a non-GAAP financial measure.

(1)	Other operating expenses include the following expense line items: Premises and equipment, Professional services, Advertising and marketing, and Other operating expenses.

(2)	See footnote 5 on page 14 for details.

(3)	See footnote 5 on page 12 for details.

(4)	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/SBMM within Legacy Franchises. See page 14 for additional information.

(5)	See footnote 2 on page 14 for details.

(6)	See footnotes 3, 4, 5 and 6 on page 14 for details.

Page 26

Reconciliation of Adjusted Results (Page 3)

(In millions of dollars, except as otherwise noted)

											4Q25 Increase/		Full			Full			FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year			Year			FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024			2025			(Decrease)

All Other (Managed Basis)^(1)(*)

All Other Net Income (Loss) - Managed Basis	$	(1,070)	$	(870)	$	(567)	$	(705)	$	(2,316)	(229%)	(116%)	$	(2,432)		$	(4,458)		(83%)
Add:
Total Divestiture-related Impacts on Revenue⁽²⁾		4		-		(177)		2		(1)				26			(176)
Total Divestiture-related Impacts on Operating Expenses⁽³⁾		(56)		(34)		(37)		(766)		(40)				(318)			(877)
Total Divestiture-related Impacts on Provisions For Credit Losses		-		11		(5)		3		1				(7)			10
Total Divestiture-related Impacts on Income Taxes		16		8		39		(16)		(70)				92			(39)
All Other Net Income (Loss) - U.S. GAAP	$	(1,106)	$	(885)	$	(747)	$	(1,482)	$	(2,426)	(64%)	(119%)	$	(2,639)		$	(5,540)		(110%)

Legacy Franchises (LF) (Managed Basis)^(1)(*)

Legacy Franchises Revenues (Managed Basis) - As Reported	$	1,563	$	1,621	$	1,691	$	1,871	$	329	(82%)	(79%)	$	6,835		$	5,512		(19%)
Less:
Notable Item - Portion of Russia Loss on Sale Impact on LF Revenues⁽⁴⁾		-		-		-		-		(1,556)				-			(1,556)
LF Revenues, Excluding Notable Item(s) Impact^(*)	$	1,563	$	1,621	$	1,691	$	1,871	$	1,885	1%	21%	$	6,835		$	7,068		3%

LF Revenues - Managed Basis^(*)	$	1,563	$	1,621	$	1,691	$	1,871	$	329	(82%)	(79%)	$	6,835		$	5,512		(19%)
Add:
Total Divestiture-related Impacts on Revenues⁽²⁾		4		-		(177)		2		(1)				26			(176)
LF Revenues - U.S. GAAP	$	1,567	$	1,621	$	1,514	$	1,873	$	328	(82%)	(79%)	$	6,861		$	5,336		(22%)

LF Operating Expenses - Managed Basis^(*)	$	1,381	$	1,334	$	1,287	$	1,320	$	1,222	(7%)	(12%)	$	6,011		$	5,163		(14%)
Add:
Total Divestiture-related Impacts on Operating Expenses⁽³⁾		56		34		37		766		40				318			877
LF Operating Expenses - U.S. GAAP	$	1,437	$	1,368	$	1,324	$	2,086	$	1,262	(40%)	(12%)	$	6,329		$	6,040		(5%)

LF Provisions For Credit Losses - Managed Basis^(*)	$	393	$	358	$	371	$	327	$	447	37%	14%	$	1,110		$	1,503		35%
Add:
Total Divestiture-related Impacts on Provisions For Credit Losses		-		(11)		5		(3)		(1)				7			(10)
LF Provisions For Credit Losses - U.S. GAAP	$	393	$	347	$	376	$	324	$	446	38%	13%	$	1,117		$	1,493		34%

LF EBIT - Managed Basis^(*)	$	(211)	$	(71)	$	33	$	224	$	(1,340)	NM	NM	$	(286)		$	(1,154)		(303%)

Add:
Total Divestiture-related Impacts on Revenue⁽²⁾		4		-		(177)		2		(1)				26			(176)
Total Divestiture-related Impacts on Operating Expenses⁽³⁾		(56)		(34)		(37)		(766)		(40)				(318)			(877)
Total Divestiture-related Impacts on Provisions For Credit Losses		-		11		(5)		3		1				(7)			10
LF EBIT - U.S. GAAP	$	(263)	$	(94)	$	(186)	$	(537)	$	(1,380)	(157%)	(425%)	$	(585)		$	(2,197)		(276%)

LF Net Income (Loss) - Managed Basis^(*)	$	(161)	$	(60)	$	60	$	155	$	(1,496)	NM	NM	$	(249)		$	(1,341)		(439%)
Add:
Total Divestiture-related Impacts on Revenue⁽²⁾		4		-		(177)		2		(1)				26			(176)
Total Divestiture-related Impacts on Operating Expenses⁽³⁾		(56)		(34)		(37)		(766)		(40)				(318)			(877)
Total Divestiture-related Impacts on Provisions For Credit Losses		-		11		(5)		3		1				(7)			10
Total Divestiture-related Impacts on Income Taxes		16		8		39		(16)		(70)				92			(39)
LF Net Income (Loss) - U.S. GAAP	$	(197)	$	(75)	$	(120)	$	(622)	$	(1,606)	(158%)	NM	$	(456)		$	(2,423)		(431%)

*	Represents a non-GAAP financial measure.

(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/SBMM within Legacy Franchises. See page 14 for additional information.

(2)	See footnote 2 on page 14 for details.

(3)	See footnotes 3, 4, 5 and 6 on page 14 for details.

(4)	See footnote 5 on page 12 for details.

Page 27

Reconciliation of Adjusted Results (Page 4)

(In millions of dollars, except as otherwise noted)

											4Q25 Increase/		Full			Full			FY 2025 vs.
	4Q		1Q		2Q		3Q		4Q		(Decrease) from		Year			Year			FY 2024 Increase/
	2024		2025		2025		2025		2025		3Q25	4Q24	2024			2025			(Decrease)

Services

Services Revenues - As Reported	$	5,165	$	4,889	$	5,062	$	5,363	$	5,942	11%	15%	$	19,618		$	21,256		8%
Less:
Notable Item - Portion of Russia HFS Impact on Sale Impact on Services Revenues⁽¹⁾		-		-		-		-		356				-			356
Services Revenues, Excluding Notable Item(s) Impact^(*)	$	5,165	$	4,889	$	5,062	$	5,363	$	5,586	4%	8%	$	19,618		$	20,900		7%

Services Non-Interest Revenue (NIR) - As Reported	$	1,719	$	1,391	$	1,432	$	1,540	$	1,892	23%	10%	$	6,195		$	6,255		1%
Less:
Notable Item - Portion of Russia HFS Impact on Sale Impact on Services Revenues⁽¹⁾		-		-		-		-		356				-			356
Services NIR, Excluding Notable Item(s) Impact^(*)	$	1,719	$	1,391	$	1,432	$	1,540	$	1,536	-	(11%)	$	6,195		$	5,899		(5%)

Banking Corporate Lending Revenues

Banking - Corporate Lending Revenues - As Reported	$	316	$	917	$	940	$	986	$	938	(5%)	197%	$	2,564		$	3,781		47%
Gain (loss) on loan hedges⁽²⁾		(6)		14		(62)		(44)		(26)				(180)			(118)
Banking - Corp Lending Revenues - Excluding Gain (loss) on loan hedges^(*)	$	322	$	903	$	1,002	$	1,030	$	964	(6%)	199%	$	2,744		$	3,899		42%

*	Represents a non-GAAP financial measure.

(1)	See footnote 5 on page 12 for details.

(2)	See page 7 for details.

Page 28

Reconciliation of Adjusted Results (Page 5)

(In millions of dollars, or as otherwise noted)

Full

FY 2025 vs.

2021 to

Year

FY 2024 Increase/

2025

 

2021

 

2022

 

2023

 

2024

 

2025

 

(Decrease)

 

CAGR⁽¹⁾

Total Citigroup Revenues

Total Citigroup Revenues - As Reported

71,574

74,982

78,066

80,722

85,225

Less:

Total Divestiture-related Impacts on Revenues⁽²⁾

(670)

854

1,346

(176)

Notable Item - Russia HFS Accounting Treatment Loss Impact on Revenues⁽³⁾

(1,173)

Total Citigroup Revenues, Excluding Divestitures Impacts and Russia Loss^(*)

72,244

74,128

76,720

80,696

86,574

Total Citigroup Operating Expenses

Total Citigroup Operating Expenses - As Reported

47,883

50,936

55,970

53,567

55,132

Less:

Total Divestiture-related Impacts on Expenses⁽⁴⁾

1,171

696

372

318

877

FDIC Special Assessment⁽⁵⁾

1,706

203

(238)

Total Citigroup Operating Expenses, Excluding Divestitures Impacts and FDIC Special Assessment^(5)(*)

46,712

50,240

53,892

53,046

54,493

Total Citigroup Operating Expenses - As Reported

47,883

50,936

55,970

53,567

55,132

Less:

Goodwill Impairment⁽⁶⁾

535

726

Total Citigroup Operating Expenses, Excluding Goodwill Impairment^(*)

47,883

50,401

55,970

53,567

54,406

Total Citigroup RoCE and RoTCE

Total Citigroup RoCE - As Reported

11.5%

7.7%

4.3%

6.1%

6.8%

70 bps

Less:

Notable Item - Russia HFS Accounting Treatment Loss Impact on Net Income⁽³⁾

0 bps

(60) bps

Total Citigroup RoCE, Excluding Notable Item^(*)

11.5%

7.7%

4.3%

6.1%

7.4%

130 bps

Total Citigroup RoTCE - As Reported

13.4%

8.9%

4.9%

7.0%

7.7%

70 bps

Less:

Notable Item - Russia HFS Accounting Treatment Loss Impact on Net Income⁽³⁾

0 bps

(70) bps

Total Citigroup RoTCE, Excluding Notable Item^(*)

13.4%

8.9%

4.9%

7.0%

8.4%

140 bps

*	Represents a non-GAAP financial measure.

(1)	Compound annual growth rate (CAGR)

(2)	See footnote 2 on page 14, Citi’s 2024 Annual Report on Form 10-K, and Citi’s 2023 Annual Report on Form 10-K for details.

(3)	See footnote 5 on page 12 for details.

(4)	See footnotes 3, 4, 5 and 6 on page 14, Citi’s 2024 Annual Report on Form 10-K, and Citi’s 2023 Annual Report on Form 10-K for details.

(5)	Federal Deposit Insurance Corporation (FDIC) Special Assessment. See Citi’s 2024 Annual Report on Form 10-K, and Citi’s 2023 Annual Report on Form 10-K for details.

(6)	See footnote 5 on page 14 and Citi’s 2024 Annual Report on Form 10-K for details.

Page 29

Reconciliation of Adjusted Results (Page 6)

(In millions of dollars, except as otherwise noted)

																									Full			Full			Full
	1Q		2Q		3Q		4Q		1Q		2Q		3Q		4Q		1Q		2Q		3Q		4Q		Year			Year			Year
	2023		2023		2023		2023		2024		2024		2024		2024		2025		2025		2025		2025		2023			2024			2025


Legacy Franchises (LF) Exits Contribution

Revenues


Closed or Signed Markets Revenues Ex-divestitures	$	374	$	368	$	205	$	184	$	183	$	164	$	138	$	106	$	104	$	105	$	112	$	90	$	1,131		$	591		$	411
Add:
Divestiture Related Impacts on Closed or Signed Markets Revenues		1,067		(16)		397		(5)		-		2		-		4		-		(177)		2		(1)		1,443			6			(176)
Closed or Signed Markets Revenues - U.S. GAAP	$	1,441	$	352	$	602	$	179	$	183	$	166	$	138	$	110	$	104	$	(72)	$	114	$	89	$	2,574		$	597		$	235


Mexico Consumer/SBMM Revenues Ex-divestitures	$	1,289	$	1,406	$	1,519	$	1,454	$	1,563	$	1,633	$	1,523	$	1,422	$	1,467	$	1,536	$	1,722	$	1,775	$	5,668		$	6,141		$	6,500
Add:
Divestiture Related Impacts on Mexico/SBMM		-		-		-		-		-		-		-		-		-		-		-		-		-			-			-
Mexico Consumer/SBMM Revenues - U.S. GAAP	$	1,289	$	1,406	$	1,519	$	1,454	$	1,563	$	1,633	$	1,523	$	1,422	$	1,467	$	1,536	$	1,722	$	1,775	$	5,668		$	6,141		$	6,500


Wind-Downs/Sale/Other Revenues Ex-divestitures	$	160	$	140	$	107	$	76	$	73	$	(78)	$	73	$	35	$	50	$	50	$	37	$	(1,536)	$	483		$	103		$	(1,399)
Add:
Divestiture Related Impacts on Wind-Downs/Sale/Other Revenues		(49)		10		(1)		(57)		(12)		31		1		-		-		-		-		-		(97)			20			-
Wind-Downs/Sale/Other Revenues - U.S. GAAP	$	111	$	150	$	106	$	19	$	61	$	(47)	$	74	$	35	$	50	$	50	$	37	$	(1,536)	$	386		$	123		$	(1,399)


Expenses


Closed or Signed Markets Expenses Ex-divestitures	$	462	$	425	$	387	$	314	$	216	$	223	$	193	$	134	$	127	$	135	$	125	$	80	$	1,588		$	766		$	467
Add:
Divestiture Related Impacts on Closed or Signed Markets Expenses		28		23		49		35		11		10		11		8		4		3		5		8		135			40			20
Closed or Signed Markets Expenses - U.S. GAAP	$	490	$	448	$	436	$	349	$	227	$	233	$	204	$	142	$	131	$	138	$	130	$	88	$	1,723		$	806		$	487


Mexico Consumer/SBMM Expenses Ex-divestitures	$	939	$	980	$	1,015	$	1,068	$	1,123	$	1,049	$	1,001	$	1,036	$	1,039	$	954	$	1,013	$	928	$	4,002		$	4,209		$	3,934
Add:
Divestiture Related Impacts on Mexico/SBMM		25		48		60		62		61		67		42		36		21		30		759		34		195			206			844
Mexico Consumer/SBMM Expenses - U.S. GAAP	$	964	$	1,028	$	1,075	$	1,130	$	1,184	$	1,116	$	1,043	$	1,072	$	1,060	$	984	$	1,772	$	962	$	4,197		$	4,415		$	4,778


Wind-Downs/Sale/Other Expenses Ex-divestitures	$	295	$	310	$	280	$	243	$	266	$	278	$	281	$	211	$	168	$	198	$	182	$	214	$	1,128		$	1,036		$	762
Add:
Divestiture Related Impacts on Wind-Downs/Sale/Other Expenses		20		8		5		9		38		8		14		12		9		4		2		(2)		42			72			13
Wind-Downs/Sale/Other Expenses - U.S. GAAP	$	315	$	318	$	285	$	252	$	304	$	286	$	295	$	223	$	177	$	202	$	184	$	212	$	1,170		$	1,108		$	775

Page 30

		Page
	Citigroup
	Financial Summary	1
	Consolidated Statement of Income	2
	Consolidated Balance Sheet	3
	Segment Net Revenues and Income (Loss)	4

	Services	5
	Markets	6
	Banking	7
	Wealth	8
	U.S. Personal Banking (USPB)	9
	Metrics	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 (End-of-Period) 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
	Common Equity Tier 1 (CET1) Capital and Supplementary Leverage Ratios	22
	Tangible Common Equity, Common Equity, Book Value per Share, Tangible Book Value Per Share (TBVPS) and Returns on Common Equity (RoCE) and Tangible Common Equity (RoTCE)	23

	Reconciliations of Adjusted Results and FX Impact
	FX Impact	24
	Total Citigroup Revenues, Net Interest Income (NII) and Non-Interest Revenues (NIR), and Total Citigroup Operating Expenses	25
	Notable Items Adjustments and All Other (Managed Basis)	26
	All Other (Managed Basis),and Legacy Franchises (Managed Basis)	27
	Services and Banking-Corporate Lending Revenues	28
	2021 - 2025 Annual - Total Citigroup Revenues, Total Operating Expenses, RoCE and RoTCE	29
	Legacy Franchises Exits Contribution	30