ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Action for Racial Equity Citi Impact Fund Strategic Philanthropy: The Citi Foundation Global Community Day Action for Racial Equity Audit Consistent with our commitment to transparency, Racial Equity we conducted a third-party racial equity audit to assess the design and implementation of Action for Racial Equity as a response to the racial wealth gap in the U.S. In 2022, Citi and the Citi Foundation continued to advance Action for Racial Equity, a commitment Covington & Burling LLP, a firm with civil rights that galvanizes activity across the firm and with expertise and experience in leading racial equity external organizations to help close the racial audits across various industries, conducted the wealth gap and increase economic mobility in the audit in 2022. Covington’s assessment found U.S. This included investing in strategic initiatives that Action for Racial Equity’s design success- to provide greater access to banking and credit fully leveraged our firm’s expertise, network of in communities of color, increasing investment in business partners and resources to address Black-owned businesses, expanding affordable some of the key factors contributing to the racial housing and homeownership among Black wealth gap. The completion of the audit also Americans, and advancing anti-racist practices provided insights that will inform our efforts and in our own company and in the financial reminds us how much work we have to do as a services industry. society to make meaningful progress in closing the racial wealth gap. We initially launched Action for Racial Equity in September 2020, and have already exceeded our See the announcement and full audit for more aggregate financial commitment of $1.1 billion details about the methodology and results. deployed through strategic initiatives. However, we know there is still work to be done, and we must work collectively to take further action within our firm and for the clients and commu- nities we serve. Citi 2022 ESG Report Page 43