Global ESG Report 2022 Citi Bookmarked

What’s Inside Building Equitable and 2 About This Report Resilient Communities 3 Letter from Our CEO 43 Action for Racial Equity 4 2022 Highlights 45 Citi Impact Fund 46 Strategic Philanthropy: 2022 The Citi Foundation ESG at Citi 48 Global Community Day Environmental, Social 5 ESG Across Citi Talent and Diversity, 6 ESG Governance at Citi Equity & Inclusion 8 Our Material ESG Issues and Governance Report 10 Stakeholder Engagement at Citi 49 Our People Strategy 49 How We Work Sustainable Finance 52 Our Talent and DEI Strategy 12 Our $1 Trillion Goal Responsible Business 22 Financing the Low-Carbon Transition 23 Financing Social Impact 65 Transforming Our Risk and Controls Environment Climate Risk 66 Ethics and Culture at Citi and Net Zero 67 Risk Management 77 Human Rights 25 Our Net Zero Commitment 82 Serving Our Customers and 30 Our Approach to Managing Clients Responsibly Climate Risk 84 Responsible Sourcing 32 Reducing Climate Risk in Our Financing. Appendices Sustainable Operations 87 GRI Content Index 34 Operational Footprint Goals 94 Sustainability Accounting Standards Board Index 36 Sustainable and Healthy Buildings 100 United Nations Global Compact Index 37 Efficient Travel 102 United Nations Guiding Principles 37 Managing Climate Risk in Reporting Framework Index Our Operations 107 The Principles for Responsible 38 Environmental Performance Banking Index for Operations 125 Assurance

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices About This Report This report illustrates how we bring our We are committed to transparency in ESG mission of enabling growth and economic reporting, and we are working to continually progress to life through our business. We improve our reporting as industry best focus on issues that we have determined practices evolve. We have redesigned and to be of material1 importance from an streamlined our ESG report this year to help environmental, social and governance stakeholders identify the most decision- (ESG) perspective, which is a broader useful information, while maintaining standard than that used in our financial consistency and transparency in our disclosures. For more information, see year-over-year data. A Note on Materiality and Forward- Looking Statements. All reporting and performance data are limited to information for the owned and When preparing this report, we referenced operated facilities of Citigroup Inc. and the Global Reporting Initiative Universal its subsidiaries, unless stated otherwise. Standards, the Task Force on Climate- Additional information about Citi can be related Financial Disclosures framework, found on our website. For more information relevant sector standards from the on ESG at Citi, please visit citigroup.com/ Sustainability Accounting Standards Board, citi/about/esg/ or contact: the Principles for Responsible Banking Enterprise Services and Public Affairs and the UN Guiding Principles on Business Citigroup Inc. and Human Rights framework (see related 388 Greenwich St. indexes). This report complements New York, NY 10013 information published in our 2022 Annual [email protected] Report, our 2022 Task Force on Climate- related Financial Disclosures Report: Citi 2022 Environmental, Social and Citi’s Approach to Climate Change and Governance Report v1.3, September 2023 Net Zero and our Environmental and Social Policy Framework. 1 Refer to Our Material ESG Issues for our definition of material issues in the context of this report. Citi 2022 ESG Report Page 2

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Expanding access to banking is also important Because of our global network, Citi is in a Letter from Our CEO to Citi’s continued success. Last year, we unique position to lead on critical business and became the first of the largest U.S. banks to economic issues and help our clients tackle the eliminate overdraft fees and returned-item challenges before them. In every aspect of this fees for our customers. Through our Action work, we are acting with urgency and holding We are living through a period defined by of “green-collar” jobs. Simply put, the energy for Racial Equity initiative in the U.S., we’ve ourselves accountable for getting it done. I invite unprecedented change. Every company I know transition, energy security and economic stepped up our partnerships with minority- you to read the following report and learn more is continually assessing its strategies, because growth are not mutually exclusive and must be owned depository institutions (MDIs) that about how we’re fortifying our business and it is abundantly clear that the geopolitical, tackled simultaneously. can help increase economic mobility in the helping our clients and communities do the same. social, environmental and technological devel- most underserved communities. We recently Whether it’s the drive to net zero, expanding opments of the next decade will have impacts Sustainable finance goes to the heart of our created a first-of-its-kind Diverse Financial financial inclusion, or investments in local for generations to come. firm’s long-term interests. By investing in Institutions Group to lead our engagement infrastructure, we are backing up our commit- the health of the communities where we do with MDIs, diverse broker-dealers and asset ments with action and measurable results and At Citi, helping our clients navigate the business, we can ensure that these communities managers. These initiatives are not separate positioning Citi for a new era of success. challenges and embrace the opportunities of will allow us to continue operating there in the from what we do day to day; they are enduring our rapidly changing world is fundamental to future. Since 2020, we have now financed and commitments embedded in our business. our mission of enabling growth and economic facilitated $348.5 billion in environmental and progress. Importantly, it’s also vital to our own social finance activity, putting us well down Within our own walls, we are committed to business and central to how we deliver for our the path to meeting our $1 trillion sustainable creating a company that reflects the diverse clients and help them sustain their businesses finance goal by 2030. This financing has been communities we serve. This ensures that we have Jane Fraser for the future. directed toward myriad opportunities in commu- a multitude of perspectives to truly understand Chief Executive Officer nities across the world, including supporting our clients’ challenges and opportunities and None of this work is straightforward. Partnership microfinance in Peru, financing community solar help them prosper. It also gives us a competitive between the public and private sectors is projects in the United States, financing access edge in the talent market and helps us attract essential, and addressing the thorniest to clean water and sanitation in Brazil, and and retain the best talent from all backgrounds. economic challenges requires a balancing helping expand access to healthcare in India act between competing needs and economic and increase food security in Nigeria. To that end, we have set new and more inclusive realities. We often find that the path of progress aspirational goals to increase underrepresented runs through the middle. Here in the U.S., we are putting our balance sheet groups in the more senior levels of the firm, to work to lift up local communities. For the as well as establishing the first aspirational Nowhere is that more true than for the energy 13th year running, we’ve been the number one recruiting goal by a major U.S. bank for LGBTQ+ transition. On the one hand, we must continue affordable housing lender in the U.S., financing early-career hires globally. We have exceeded the to support our clients who make sure there is approximately $6 billion in projects in 2022 alone. three-year representation goals we set in 2018 an ample and affordable energy supply to meet We also more than tripled our initial commitment to increase the percentages of women in the the world’s needs. On the other hand, we are to the Citi Impact Fund to $500 million so we firm globally and Black talent in the U.S. We also also enabling the investment that’s critical to can provide capital to startups, many of them continue to champion pay equity in our industry the transition to a low-carbon economy. That led by diverse founders, that are focused on the by annually publishing the pay gap between includes advising and financing our clients in “double bottom line” by driving positive social and men and women globally and U.S. minorities and their decarbonization journeys, investing in financial impact. U.S. non-minorities. necessary climate technologies and ameliorating the workforce impact by catalyzing the creation Citi 2022 ESG Report Page 3

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices 2022 Highlights 2022 Highlights Reached Provided more than Became a founding member of the 2.5M Biden-Harris administration’s $348.5B Economic Opportunity Coalition HOUSEHOLDS, focused on addressing economic disparities toward our INCLUDING NEARLY in underserved communities $1 TRILLION SUSTAINABLE FINANCE GOAL 1M since 2020 WOMEN, with access to essential Prioritized the safety MOBILIZED OVER goods and services in of Citi colleagues in emerging markets Ukraine $3B Set 2030 emissions while supporting clients IN EMERGING MARKET SOCIAL Became the first major U.S. Created a first-of-its-kind and relief organizations bank to set an aspirational Diverse Financial reduction targets on the ground FINANCE ACTIVITY, including access to finance, recruiting goal for Institutions Group for energy, power, automotive manufacturing, healthcare, digital connectivity, LGBTQ+ to deepen our work with steel, commercial real estate and thermal coal Became the first smallholder agriculture, reliable minority-owned firms mining lending portfolios as part of our net major U.S. bank energy, water and sanitation early-career zero commitment1 to eliminate overdraft fees hires globally Committed EXPANDED THE CITI $50M IMPACT FUND TO Financed through the Citi Foundation to nonprofits approximately supporting community finance initiatives $500M $6B Volunteered over throughout the U.S. which tripled our initial IN AFFORDABLE 115,000 commitment to investing in HOUSING HOURS Signed onto the double-bottom line companies PROJECTS across 84 countries and Sustainable STEEL Principles, helping to address societal territories as part of Global the first framework for lenders to challenges in the U.S. Community Day at Citi measure steel industry emissions 1 Emissions reduction targets for Auto Manufacturing, Commercial Real Estate, Steel and Thermal Coal Mining were released in early 2023. Citi 2022 ESG Report Page 4

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices ESG Across Citi ESG Governance at Citi Our Material ESG Issues Stakeholder Engagement at Citi ESG at Citi QUICK LINKS ESG Across Citi ESG Governance at Citi Our Material ESG Issues Citi’s mission is to serve as a trusted partner to our We believe that effective management of our ESG than a third of the way to our goal. We again met Sustainability and clients by responsibly providing financial services priorities helps to improve business resiliency, our goal of sourcing 100% of our operational that enable growth and economic progress. Our risk mitigation and value generation. The same energy use from renewable sources. Climate Change core activities are safeguarding assets, lending is true for our clients, with whom we partner to money, making payments and accessing the support and finance their key ESG objectives. We remain committed to sharing our progress and In addition to creating ESG specialist teams capital markets on behalf of our clients. learning along this journey — as transparency and across our businesses, we have restructured With this approach in mind, we have identified accountability are keys to our success. some teams and business units to respond to As a global financial institution, Citi connects ESG priorities related to climate change; the growing opportunities in the sustainability millions of people across countries and cities sustainable finance; strengthening commu- and energy transition spaces. worldwide. For over 200 years, we have been nities; racial equity and employee diversity, helping our clients to meet some of the world’s equity & inclusion, as discussed below and ESG Across In 2021, we created our Natural Resources toughest challenges and embrace its greatest throughout this report. and Clean Energy Transition group that pulled opportunities. together the energy, power and chemicals In 2022, we made progress on advancing Citi businesses. We have more recently built out our Our commitments, considerations and priorities diversity, equity & inclusion (DEI) throughout Clean Energy Transitions team to equip us to around environmental, social and governance our firm, exceeded our aspirational diversity provide advisory services and capital solutions (ESG) issues are part of our business model and representation goals for 2018 and set new, Many of our business units have expanded their for companies developing energy transition central to our mission. While initially developed more inclusive goals for 2025. We continued to capacity and capabilities to serve the evolving technologies. by the investment community, the term ESG spend $1 billion annually with certified diverse needs of our clients. Across the firm, our teams And as important, we are building capacity has a variety of meanings today, reflecting our suppliers and completed an external audit of our are prepared to support and work with our through internal presentations, town halls and rapidly changing global society. Action for Racial Equity. clients, services and products in support of training pilots for industry banking and risk At Citi, we have identified our ESG priorities We also continued to progress our net zero their ESG strategies and related goals. We have teams, so that our bankers are equipped to in line with our business priorities. We engage finance and operations commitments. In 2022, ESG specialists in Banking, Capital Markets and engage with clients on their ESG priorities and on environmental and social issues from a we financed and facilitated an additional Advisory Services, Global Markets, Treasury and how Citi can help to support their ambitions. business risk and opportunity perspective. Our $123.5 billion toward our goal of $1 trillion in Trade Solutions and Citi Global Wealth. governance fundamentals contribute to the sustainable finance by 2030, putting us more strength and performance of our company. CCiitti 2i 200222 E2 ESSG RG Reeppoorrtt PPaagge 5e 5

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices ESG Across Citi ESG Governance at Citi Our Material ESG Issues Stakeholder Engagement at Citi Some highlights of our approach for Reporting to the Global Head of Human • Citi Social Finance, which works across Citi comply with the laws, rules and regulations 2022 include: Resources, the Chief DEI Officer and Global businesses globally to expand financial that govern our businesses. Our corporate • Expanding and realigning our Climate Head of Talent works in partnership with senior inclusion and accelerate access to basic governance structures, policies and processes Risk team to be part of the Enterprise Risk management, particularly members of the services in emerging markets promote a culture of accountability and ethical Management function within Risk, further Executive Management Team, who co-chair our • U.S. Community and Business Engagement, conduct across our firm. adding expertise and embedding climate Inclusion Networks. which manages relationships with advocacy The Citi Board of Directors has ultimate oversight within our risk management policies and Some highlights of our approach for 2022 and consumer protection organizations of our work to identify, assess and integrate practices include: to gain insights into issues affecting low- ESG and sustainability-related risks and • Building out our Clean Energy Transitions and moderate-income communities and opportunities throughout Citi, including our • Exceeding the aspirational representation communities of color climate-related work and talent and DEI efforts. team (formed in 2021 and expanded in 2022 goals we initially set in 2018 and expanding to include Corporate Banking), which focuses our goals through 2025 to be more inclusive • Community Relations, which catalyzes The Board receives reports from key personnel on on providing advisory services and raising and more global so that Citi better reflects economic opportunity and financial access our progress and key issues on a periodic basis. capital for companies developing energy the communities we serve by engaging and partnering with local transition technologies community leaders and organizations across Standing committees of our Board include: • Continuing to make progress on closing the the Citi footprint • Audit Committee • Launching two climate training pilots for our raw pay gap for women globally as well as for Banking, Capital Markets and Advisory; Risk U.S. minorities The Citi Foundation is a separate legal entity • Compensation, Performance Management Management; and Global Functions teams, funded by Citi to organize flagship community and Culture Committee involving virtual and in-person sessions • Expanding mental health and well-being programming in three areas: youth economic providing foundational knowledge of climate offerings to support our colleagues around • Nomination, Governance and Public Affairs the world opportunities, financial inclusion and Committee and sustainability and assessment of climate community solutions. Underlying our approach transition plans • Continuing the enterprise-wide rollout is the notion that complex societal challenges • Risk Management Committee • Establishing a new position — the Head of of unconscious bias training and making require multifaceted solutions. We strive to • Technology Committee Net Zero Operations — to provide leadership inclusive leadership training available share our expertise with, and learn from, our and expertise to help us reach our net zero- for managers partners and stakeholders about ways we can In addition to oversight by the full Board, the operations commitment enhance impact. Nomination, Governance and Public Affairs Community Committee oversees the company’s ESG activity, including reviewing our policies and Talent and DEI Investing programs for sustainability, climate change, ESG human rights, diversity and other ESG matters, We constantly strive to ensure Citi remains a Community Investing and Development as well as advising on engagement with external great place to work — where people can thrive (CID) is an integrated team that works across stakeholders. For more information on the roles professionally and personally. Our commitment businesses and functions at Citi to catalyze Governance and responsibilities of this committee, see the to DEI is seen throughout our business, positive social impact in communities around Nomination, Governance and Public Affairs including Citi and the Citi Foundation’s Action the world. CID comprises the following teams: at Citi Committee charter. for Racial Equity initiative to help address the • Citi Impact Fund, which invests in racial wealth gap. The Audit Committee has oversight over the “double-bottom line,” U.S.-based companies controls and procedures related to Citi group Our Chief Diversity, Equity & Inclusion (DEI) that are addressing societal challenges, Good governance is a fundamental principle level ESG and climate-related reporting. See the Officer and Global Head of Talent oversees including financial inclusion, future of work, at Citi, and we strive to be at the leading edge Audit Committee charter for more information on our efforts to promote DEI in the workplace. social infrastructure and climate resilience of best practices. We strive to report on our the roles and responsibilities of this committee. activities with accuracy and transparency and CCiitti 2i 200222 E2 ESSG RG Reeppoorrtt PPaagge 6e 6

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices ESG Across Citi ESG Governance at Citi Our Material ESG Issues Stakeholder Engagement at Citi The Risk Management Committee provides Ethics and Business Practices oversight of and reviews key risk policies, We work to maintain the public’s trust by including those related to environmental, social adhering to the highest standards of ethical and climate risk. For more information on the conduct. We ask our colleagues to ensure that roles and responsibilities of this committee, see their decisions pass three tests: they are in our the Risk Management Committee charter. clients’ interests, create economic value and are Although not a standing committee of the Board, always systemically responsible. When we do the Transformation Oversight Committee these things well, we make a positive financial provides oversight of management’s remediation and social impact in the communities we serve. of the issues identified in the October 2020 Ethics and responsible business practices are consent orders with the Federal Reserve Board among the most material ESG issues for Citi and Office of the Comptroller of the Currency. and our stakeholders. The Compensation, The changes being made through the Performance Management and Culture Transformation process will continue to improve Committee oversees the incentive compen- our overall governance processes. sation structure for senior management at Citi, The Global ESG Council provides a senior as well as management’s efforts to foster and management forum for oversight of our support the desired culture and promote ethical ESG commitments and priorities. In 2022, decision-making within the organization. The the Council reviewed sustainable finance committee also oversees efforts to promote progress, climate data governance, updates diversity and inclusion in the workplace in hiring, on progress toward our net zero operations retention and staff development practices at goal and our sector target-setting process for Citi. To learn more about the responsibilities emissions reductions in our lending portfolio. of the committee, see the Compensation, Council members also oversaw our progress Performance Management and Culture on workforce DEI representation goals and our Committee charter. Diversity, equity & inclusion, including repre- Specifically, driving the delivery of sustainable Action for Racial Equity external audit results. The Ethics and Culture section of this report sentation of women and U.S. Black colleagues finance under our $1 trillion goal is included in provides more information about efforts to at the Assistant Vice President to Managing the scorecard for our CEO. In 2022, we expanded oversight by our Board of Director levels, continue to be included in Directors and codified alignment of ESG issues encourage a culture of ethics at Citi. scorecards for our senior executives. Citi also Developing a net zero operations plan is on the to certain Board Committees, such as our Remuneration incorporates shareholder and stakeholder scorecard of our Head of Enterprise Services and Net Zero Plan, climate risk management and input on executive pay into our Compensation Public Affairs. Developing and operationalizing the controls and processes around climate and ESG-related goals are incorporated into a Philosophy. our Net Zero Plan for our financing and 2030 ESG disclosures. number of executive scorecards, which aggregate targets are also on the scorecard of the CEO key elements of performance management tied Executive scorecards for certain members of the Institutional Clients Group (ICG), Head to the determination of incentive compensation of executive management and other senior of Enterprise Operations & Technology, Chief for these executives. managers include progress on our Net Zero Plan Risk Officer and Global Co-Heads of Banking, and target setting, our $1 Trillion Sustainable Capital Markets and Advisory (BCMA). For more Finance Goal and climate risk management. information, see our 2022 TCFD Report. CCiitti 2i 200222 E2 ESSG RG Reeppoorrtt PPaagge 7e 7

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact Sustainable Finance in Action $1 Trillion in Sustainable Finance by 2030 The global market for sustainable finance has Our $1 Trillion Sustainable Finance Goal aims to further the transition to a SUSTAINABLE FINANCE expanded rapidly over the last few years, as sustainable, equitable, low-carbon economy that supports society’s environmental, investors and companies recognize the role GOAL PROGRESS that the financial services sector can play in social and economic needs. Compatible with the UN SDGs, we announced the $1T financing and facilitating projects that support goal in 2021 with the intention to reach it through a combination of environmental by 2030 clients’ transitions to a more sustainable, and social finance activities. As the world’s most global bank, Citi can help mobilize socially responsible, low-carbon economy. capital to advance progress toward the goals. We continue to advance our goal for sustainable ENVIRONMENTAL FINANCE GOAL CRITERIA finance across a wide range of products and services. These include sustainable debt issuances such as thematic green bonds, social bonds and sustainability bonds, as well Circular Clean Energy Green $750B as sustainability-linked loans and bonds that Economy Technology Efficiency Buildings are tied to ESG performance; municipal bonds with use of proceeds directed toward environ- mental and social benefits; sustainable supply chain finance; sustainability-focused lending and investments; and financing and advisory Renewable Sustainable Sustainable Water Quality and Energy Agriculture and Transportation Conservation services to help companies achieve their net Land Use $500B zero strategies. For continued discussion of our $1 Trillion Sustainable SOCIAL FINANCE GOAL CRITERIA Finance Goal, see page 17. $348.5B Affordable Basic Affordable Diversity Total since 2020 Infrastructure Housing & Equity $250B Economic Education Food Healthcare Inclusion Security See our detailed goal data $0 Citi 2022 ESG Report Page 13

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact $1 Trillion Sustainable Finance Goal Sustainable Finance Criteria 2020 2021 2022 Total % Circular Economy $0.4 $2.1 $0.3 $2.8 0.8% * FINANCIAL DATA Clean Technology $0.6 $0.0 $2.5 $3.1 0.9% In billions USD Energy Efficiency $1.2 $2.5 $0.5 $4.1 1.2% Green Buildings $1.6 $1.4 $1.3 $4.3 1.2% Sustainable Finance 2020 2021 2022 Total % Renewable Energy $7.0 $19.6 $17.3 $43.9 12.6% $ 62.5 $ 162.5 $ 123.5 $ 348.5 100% Sustainable Agriculture and $ 0.2 $0.0 $0.5 $0.8 0.2% Land Use Business 2020 2021 2022 Total % Sustainable Transportation $ 3.7 $46.7 $29.4 $79.8 22.9% Investment Banking $ 50.1 $ 150.3 $ 107.0 $ 307.4 88.2% Water Quality and Conservation $ 1.4 $1.6 $3.1 $6.2 1.8% Mergers and Acquisitions $ 5.3 $ 57.4 $ 34.9 $ 97.5 Environmental: Multiple† $ 12.9 $49.4 $31.7 $94.1 27.0% Debt Capital Markets $ 30.4 $ 78.2 $ 57.9 $ 166.5 Total Environmental $ 28.8 $123.5 $86.7 $238.9 68.6% Thematic Bonds (Green, Social, Sustainable) $ 25.8 $ 44.7 $ 27.4 $ 97.9 Affordable Basic Infrastructure $0.7 $0.3 $0.1 $1.2 0.3% Sustainability-Linked Bonds $ 0.0 $ 4.3 $ 3.5 $ 7.8 Affordable Housing†† $10.4 $10.6 $9.2 $30.2 8.7% Sustainability-Linked Loans $ 4.6 $ 28.6 $ 25.1 $ 58.3 Diversity and Equity $0.3 $0.3 $0.0 $0.6 0.2% Green and Other Loans $ 0.0 $ 0.7 $ 1.8 $ 2.5 Economic Inclusion $3.9 $2.7 $1.2 $7.9 2.3% Equity Capital Markets $ 2.8 $ 3.4 $ 2.3 $ 8.5 Education $4.3 $0.9 $3.1 $8.4 2.4% Municipal Underwriting $ 11.6 $ 11.3 $ 11.9 $ 34.9 Healthcare $4.1 $2.1 $0.9 $7.1 2.0% Corporate Lending** $ 10.7 $ 10.2 $ 14.2 $ 35.1 10.1% Food Security $0.0 $0.5 $0.1 $0.6 0.2% Treasury and Trade Solutions $ 1.4 $ 0.6 $ 1.0 $ 3.0 0.9% Social: Multiple† $1.4 $4.3 $4.2 $9.9 2.9% Markets*** $ 0.3 $ 1.3 $ 1.3 $ 2.9 0.8% Total Social $25.2 $21.8 $18.8 $65.8 18.9% Corporate/Other (Citi Investments) $ 0.0 $ 0.1 $ 0.0 $ 0.2 0.0% Environmental and Social††† $8.5 $17.3 $18.0 $43.7 12.6% Total $ 62.5 $ 162.5 $ 123.5 $ 348.5 100.0% Total $62.5 $162.5 $123.5 $348.5 100% * Figures may not sum to total, or in some cases, may appear as zero, due to rounding. Figures for prior years may differ from previous reporting due to updated league Region 2020 2021 2022 Total % table data and subsequently identified eligible transactions. ** “Corporate Lending” includes, but is not limited to, financing and securitization for clean energy finance, community capital (affordable housing), project finance, Asia Pacific $5.0 $14.2 $14.1 $33.3 9.5% commercial banking and other lending. *** “Markets” includes, but is not limited to, commodities transactions that meet renewable energy criteria and other fixed-income transactions, such as private Europe, Middle East and Africa $15.6 $44.3 $58.3 $118.2 33.9% placement of green bonds, notes or repurchase agreements. † Denotes activities falling under multiple environmental or social criteria, including green or social bond transactions where the issuer’s framework comprises multiple Latin America $2.4 $8.7 $5.5 $16.6 4.8% eligible categories. North America $39.4 $95.3 $45.6 $180.3 51.7% †† “Affordable Housing” includes, but is not limited to, projects financed through our U.S. community capital/affordable housing lending business. ††† Refers to transactions that met both environmental and social finance criteria. Total $62.5 $162.5 $123.5 $348.5 100% Citi 2022 ESG Report Page 14

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact Impact Calculation Methodology Summary To estimate the environmental and social impacts of Citi-financed projects and activities, we looked at the • For renewable energy projects and energy efficiency finance, people impacted is equivalent to the number following metrics: of people whose annual energy usage is supplied by the project. Estimated renewable energy generation • Avoided GHG emissions are the amount of GHG emissions avoided because of our share of financing for annually due to Citi financing is divided by average energy consumption per capita in the country of the relevant projects. This is calculated by applying regional electric grid factors to the bank’s share of financing project, to estimate the number of people impacted. across three types of activities, including a low-carbon source replacing energy use from the grid, energy • For affordable housing, the number of people impacted is calculated using external reference data on average efficiency upgrades and certified (e.g., LEED) green housing units. Impacts reflect the per annum benefit, as household size multiplied by the number of housing units constructed. opposed to the benefit over entire project life. • For municipal bond financing related to education projects, people impacted is estimated as the number of • For renewable energy projects, total project capacity for energy is calculated as the annual capacity factor enrolled school children benefiting from new or repaired school buildings or purchases of equipment. External applied to the total project size per annum and multiplied by the CO emissions factor. education data on average student enrollment by school, and the number of schools benefiting from funding 2 as stated in issuance documents, was used for this calculation. For municipal bond financing related to water/ • For energy efficiency upgrades, the average household energy savings is calculated as the average household utility improvement, people impacted is estimated as the share of a municipality’s population benefiting from energy use multiplied by the percentage of energy savings per thousand U.S. dollars invested. The result is improved utility facilities, and for financing related to economic development, people impacted refers to the multiplied by the total financing (e.g., warehouse) value and the CO2 emissions factor. number of individuals directly benefiting from the expansion of new public buildings. • For green buildings, the average household energy savings is equal to the average energy use of a • Direct jobs supported refers to the number of jobs supported by the uses of Citi-financed lending or underwritten non-LEED-certified building multiplied by the percentage of energy savings by a LEED-certified building. municipal bond proceeds. Jobs supported are related to the bank’s share of new financing for the projects. For The result is multiplied by the number of square feet and the per-square-foot CO2 emissions factor. microfinance lending, jobs supported are equal to the number of entrepreneurs and smallholder farmers that • Renewable energy capacity added refers to the size of new renewable energy capacity installed as a result received loans. For projects involving new construction or maintenance and repair of affordable housing units, of our share of renewable energy project financings. renewable energy generation, schools, transit or water systems in the U.S., jobs supported are calculated as • People impacted refers to the direct number of people benefiting from the use of Citi-financed lending activities Citi-financed expenditures divided by output per worker, supplied by the IMPLAN economic modeling system. For or underwritten financing proceeds for small businesses, renewable energy and energy efficiency projects, projects involving renewable energy generation in locations outside the U.S., external data is used to estimate the affordable housing, and underwritten municipal bond proceeds for transit, water, utility, economic development share of project cost involving installation (labor), and this is divided by average compensation of workers in the and education projects. country, to estimate the number of jobs supported. • For microfinance, smallholder farmer, basic digital device and other social purpose lending activities in emerging markets, people impacted is equivalent to the number of entrepreneurs, small farm holders and individuals receiving loans as self-reported by Citi clients. For larger telecoms providing access to households, people impacted refers to households enabled with digital access by the client in the country supported by Citi financing. Citi 2022 ESG Report Page 16

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact (Continued from page 13) In a challenging year for the bond market overall, Sustainable Finance Across the global sustainable debt market declined in Our Organization SUSTAINABILITY SERIES FROM CITI GLOBAL PERSPECTIVES & SOLUTIONS 1 2022 for the first time since 2020. Yet despite Delivering on our sustainable finance goal is an rising interest rates and economic uncertainty, From water and climate change to electric vehicles and agriculture, Citi Global Perspectives sustainable/ESG debt issuance remained integrated effort across our organization. Many & Solutions explores the challenges and solutions on the path toward achieving the resilient compared to non-ESG debt issuance.2 Citi business units — including Banking, Capital Sustainable Development Goals. Markets and Advisory; Global Markets; Citi Our 2022 progress toward the $1 Trillion Global Wealth, Trade and Treasury Solutions; In 2022, Citi GPS published reports on: Sustainable Finance Goal was partially Citi Community Capital; and Citi Commercial reflective of current market conditions. As seen Bank — are dedicated to delivering products and Climate Finance — Mobilizing the Public and Private Sector in the reporting on page 14, sustainable finance services that can contribute to our sustainable to Ensure a Just Energy Transition goal activities from the M&A and debt capital finance goal. In recent years, we have also A cumulative total of $125 trillion in capital investment is markets businesses declined year over year, created teams such as the Sustainability and needed for the global economy to reach net zero by 2050. contributing to the overall decline in annual Corporate Transitions team, which engages progress compared to 2021. with our clients to support their low-carbon Food Security — Tackling the Current Crisis and Building transition efforts; the Clean Energy Transitions Future Resilience We are seeing consistent sustainable finance team, which provides advisory services and Food insecurity continues to impact almost a third of the global activity that meets multiple sustainability raises capital for companies developing energy population, and a sustainable, long-term solution for global criteria and blurs the lines between environ- transition technologies; and we also continue to food security is not possible without also tackling climate change, mental and social impact. These transactions expand and deepen the scope of the Citi Social which has significant impacts on food production. illustrate the interrelated areas of impact in Finance team, which partners with business sustainable finance. Moreover, while we are units across Citi to help drive innovative efforts Energy Transition — Gaining Momentum on the Path seeing consistent volumes in the pure-play on social finance activities in emerging markets. to Net Zero social finance space, we are seeing more This report examines a range of economic and political challenges, demand for blended finance instruments, as For additional information on how our teams within and among countries, that continue to impact the reliance well as increasing focus on energy transition. engage with clients on their sustainability and on fossil fuels and the global energy transition. We will continue to closely monitor the social transition journeys, see Low-Carbon Transition finance market and identify opportunities. and Social Finance. Food and Climate Change — Creating Sustainable Food Systems Overall, we remain committed to advancing for a Net Zero Future sustainable finance activity and staying on The global food system — agriculture and food production track to achieve our target of financing and collectively — is responsible for one-third of human-induced facilitating $1 trillion by 2030. global greenhouse gas emissions. Citi GPS analyzes four potential solutions to reduce emissions. Eliminating Poverty — The Importance of a Multidimensional Approach in Tackling SDG 1 To make progress towards poverty reduction, we need to 1 “U.S. Sustainable Bond Market Well Positioned Despite General Slowdown in Bond Financings” (March 13, 2023), White & Case, https://debtexplorer. consider ways to mobilize more investors and businesses whitecase.com/leveraged-finance-commentary/us-sustainable-bond-market-well-positioned-despite-general-slowdown-in-bond-financings#!. to adopt this goal. 2 ESG Flows and Markets (December 2022), Institute of International Finance, page 2, https://www.iif.com/portals/0/Files/content/Research/IIF%20 ESG%20Flows%20and%20Markets_Nov-Dec.%202022_v1.pdf. Citi 2022 ESG Report Page 17

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact Our $1 Trillion Goal in Action Over the past year, we have helped expand access to energy by bringing solar and battery storage projects online and increase access to healthcare, education, clean water and other basic infrastructure. The following are examples of finance transactions from 2022 that contributed to the $1 Trillion Sustainable Finance Goal. Renewable Energy Sustainable Agriculture and Land Use Renewable Energy Financing Renewable Energy in the U.S. Supporting Wildlife Conservation Expanding Solar Energy in Abu Dhabi OUR ROLE Served as coordinating lead arranger, lender OUR ROLE Served as bookrunner for the World Bank’s issuance of a Wildlife Conservation OUR ROLE Managed a project bond offering for the and swap syndication arranger to provide a comprehensive Bond in support of South Africa’s efforts to conserve endangered species Noor Abu Dhabi solar power project financing package for the Great Cove Solar projects The objective of the bond is to secure and grow the black rhinoceros population, gigawatts DC (881 megawatts AC) support over 2,000 jobs for the local community and improve the management of a 1.2 of installed capacity 220megawatts (AC) of renewable energy capacity 153,000-hectare area In January 2022, Citi successfully priced a $700.8 million In December 2022, Citi provided AES Clean Energy with In March 2022, Citi supported the World Bank (International Bank for Reconstruction Benchmark Green 144A/RegS project bond offering on financing to fund the construction and operation of the and Development, IBRD) in issuing a $150 million first-of-its-kind, outcome-based behalf of Sweihan PV Power Company (SPPC). Citi acted Great Cove solar photovoltaic projects located in Fulton and Wildlife Conservation Bond (WCB) that contributes to protecting and increasing as lead global coordinator and joint lead manager on Franklin Counties, Pennsylvania. Great Cove is comprised black rhino populations in two protected areas in South Africa, the Addo Elephant this offering. SPPC owns and operates the Noor Abu of two projects expected to begin commercial operations National Park and the Great Fish River Nature Reserve, by providing conservation Dhabi solar photovoltaic power project, the world’s in 2023 and 2024, and together will provide a total of 220 investment payments to the two parks in lieu of coupon payments to investors. largest operating single-site solar PV project. Noor MWAC in renewable energy capacity. Output from the solar Rhinos are considered an umbrella species, which play a crucial role in shaping Abu Dhabi will result in 9 million metric tons of CO2 projects will be supplied to the University of Pennsylvania, entire ecosystems on which countless other species depend. As a World Bank savings during 2020-2030. Emirates Water & Electricity an Ivy League institution and leading research university Sustainable Development Bond, the WCB combined a “use of proceeds” bond, Company, 100% indirectly owned by the government in the U.S. Since 2016, Citi has supported and provided which supports the financing of sustainable projects in World Bank countries, with of Abu Dhabi, acts as the sole offtaker under a 30-year several financings for AES Clean Energy, which has a an outcome-based mechanism that provides a return to investors if the project fixed-price power purchase agreement. The bond was diversified operating portfolio of wind, solar and storage succeeds. The innovative transaction structure created the opportunity for bond the first green project bond issued in the Middle East projects across the U.S. market investors to engage directly in a conservation project, supported by quan- and North Africa region. tifiable metrics and models. Citi 2022 ESG Report Page 18

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact Food Security Affordable Basic Infrastructure, Economic Inclusion, Education, Diversity & Equity, and Improving Livelihoods for Nigeria’s Smallholder Farmers Diversity & Equity Economic Inclusion Supporting Digital Connectivity and Supporting Education in Peru OUR ROLE Financed Babban Gona’s procurement of agricultural inputs Financial Inclusion in Mexico for on-lending to smallholder farmers OUR ROLE Financing to support the construction OUR ROLE Lender of schools More farmers in northern than 40,000 Nigeria supported students are directly supported Supports access to smartphones for more than Nearly3,000 low-income people in in accessing education Babban Gona, which means Great Farm in the Hausa language, is a 485,000 mission-driven agricultural services company that seeks to create Mexico, more than 43% opportunities for underemployed young people through jobs and of whom are are girls training in agriculture — opportunities that have helped to support 48%women stability in rural communities. Citi extended $10 million in financing to To help increase access to high-quality education, Babban Gona to support agricultural inputs credit and harvest advances For the majority of consumers in emerging markets, the cost of smart- Citi loaned $20 million to Innova Schools to build 4,5 to smallholder farmers in northern Nigeria. phones is prohibitive. All too often, this means smartphones, and the and renovate schools in Peru. The loan is part of Scaling Enterprise, a Citi partnership with the U.S. economic benefits they provide, are out of reach. The fintech company Innova Schools has 63 schools in 17 cities in Peru, International Development Finance Corporation and the Ford Foundation PayJoy enables individuals with limited credit history to access smart- serving approximately 50,000 students. Our loan that enables early-stage financing in local currency to companies that phones, while paying in installments and building their formal credit is expected to enable Innova Schools to bring expand access to products and services for low-income communities in record. In 2022, Citi extended $100 million in financing to PayJoy to help high-quality services to nearly 3,000 additional 6 emerging markets. By increasing lending to Babban Gona’s smallholder increase digital connectivity and financial inclusion for underserved students, especially those from the emerging farmers, our financing is expected to enable them to increase their people in Mexico. This builds on Citi Ventures’ 2021 venture capital 7 middle class. farming income by an average of 200% per hectare. investment in PayJoy. 4 Babban Gona website, accessed January 2023, https://babbangona.com/. 5 “Citibank Partners [with] Babban Gona to Provide Support [for] Over 40,000 Smallholder Farmers,” Babban Gona, accessed January 2023, https://babbangona.com/citibank-partners-babban-gona-to-support-over-40000-smallholder-farmers/. 6 “Citi, OPIC and Ford Foundation Launch Scaling Enterprise, a $100 Million Financing Partnership to Support Social Enterprises,” (Oct. 23, 2019), Citi, https://www.citigroup.com/global/news/press-release/2019/citi-opic-and-ford-foundation-launch-scaling-enterprise-a-100-million- financing-partnership-to-support-social-enterprises. 7 “Citi Loans US$20 Million to Innova Schools to Fund Quality Affordable Education in Peru,” (Dec. 4, 2022), Citi, https://www.citigroup.com/global/news/press-release/2022/citi-loans-us-20-million-to-innova-schools-to-fund-quality-affordable-education-in-peru. Citi 2022 ESG Report Page 19

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact Global Reach in Sustainable Finance Citi is engaged in sustainable finance across the globe. The examples that follow recognize the critical importance of supporting sustainable development in middle- and lower-income markets, as well as projects in developed economies. REGIONAL REPRESENTATION (2020-2022) We finance and facilitate sustainable activities to support the needs of people and communities around the world. The aggregate contribution of these activ- ities toward our $1 Trillion Sustainable Finance Goal, broken down by region, is provided below. Low-Income and Lower-Middle-Income Countries and Jurisdictions with Citi Presence* Upper Middle-Income Countries and Jurisdictions with Citi Presence* High-Income Countries and Jurisdictions with Citi Presence* $33.3B $16.6B Asia Pacific Latin America $118.2B $180.3B Europe, Middle East North America and Africa Additional data related to our $1 Trillion Sustainable Finance Goal can be found earlier in this chapter. *Income classifications defined by World Bank. Citi 2022 ESG Report Page 20

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact Examples of sustainable finance transactions across the globe LOCATION TRANSACTION DESCRIPTION SUSTAINABLE FINANCE CRITERIA HIGHLIGHTS Latin America Brazil Financing Aegea Saneamento e Participacões Water and Sanitation Affordable Basic in people gaining expanded to increase access to clean water and sanitation Infrastructure $67Mfinancing 704Kaccess to clean water Peru Expanding access to finance for micro and small enterprises Financial Inclusion households of which are through Caja Arequipa 9,000+supported 5,400+led by women Asia Pacific Supporting Biological E Limited for its working capital require- India ments, for the manufacture and distribution of vaccines, Healthcare $50Minvestment including a COVID-19 vaccine Europe, Middle East and Africa Part of a syndicate of banks providing a EUR 350 million The new green loan facility strengthened uncommitted green trade finance facility to Polestar Sustainable in Polestar's financial position and increased Sweden Performance AB, a Swedish premium electric performance Transportation €350Mfinancing Polestar’s sources of funding, to support car maker, to support its working capital needs the import of electric vehicles into Europe and North America Nigeria, Kenya, Affordable Basic sustainability- households with Gabon and the Expanding digital inclusion and infrastructure in rural areas Infrastructure $125Mlinked revolving 237.7K+ access to digital Democratic through financing to Airtel Africa’s operating subsidiaries Economic and credit facility infrastructure Republic of Congo Financial Inclusion North America U.S. Supporting the Breakthrough Energy Catalyst funding program Renewable Energy to accelerate development of clean energy technologies Clean Technology $50Minvestment Served as active bookrunner on General Motors’ inaugural Sustainable in funds from GM plans to increase capacity U.S. green bond issuance to support the automaker’s transition to $2.25B green bond will to build 1 million EVs annually electric vehicles Transportation support EVs in North America by 2025 Citi 2022 ESG Report Page 21

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact are also discussing capital expenditure SUSTAINABLE FINANCE ACROSS CITI Financing requirements to achieve their plans and how they are allocating capital to achieve Citi Team Sustainable Finance-related Business the Low- their low-carbon business models. We Natural Resources The NRCET team drives client engagement efforts in the Energy, Power, Chemicals and Clean Energy will continue our engagement with clients and Clean Energy Transition sectors. This team of corporate and investment bankers brings deep knowledge of these to understand their transition plans in Transition (NRCET) sectors, the challenges they face and the transformative opportunities open to them. Carbon greater detail as those plans evolve, and help them in their strategies to realize Sustainability The SCT team engages with clients at the C-suite and senior levels, across all sectors, to support the opportunities inherent in transitioning to and Corporate transition of their businesses to a more sustainable, net zero and nature-positive future. The team also Transition a low-carbon world. Transitions (SCT) engages with mature and early-stage companies that are developing new technologies, innovations and sustainable business models. The SCT team provides solutions to clients including strategic advice, M&A advisory, equity and debt capital markets services, and corporate banking solutions. Our goal to finance and facilitate activ- Transforming Sustainable Debt Sustainable DCM & Loans has technical expertise on green, social and sustainability use of proceeds debt ities that accelerate the transition to a Capital Markets financing, as well as sustainability-linked bonds (SLB) & loans (SLL). The team works with debt capital Our Business to (DCM) & Loans markets & loans origination teams as well as industry bankers to originate sustainable issuance and structure low-carbon economy is a core element of sustainable debt frameworks on behalf of clients around the world. The Sustainable DCM team also advises our $1 Trillion Sustainable Finance by 2030 Support a Low- Citi Treasury on our own sustainable debt programs. Goal and our pledge to achieve net zero Global GIF is a debt-focused, client-facing team covering financial advisory (M&A, capital markets, ratings, greenfield greenhouse gas (GHG) emissions for our Carbon Economy Infrastructure and refinancing situations), lending and underwriting, as well as structuring and placement of public/private financing by 2050. Finance (GIF) capital markets instruments for clients with interests across various NRCET and Infrastructure sectors. Climate change is a top-of-mind issue for our company and for many of our clients. Global Markets Global Markets’ dedicated ESG team works with clients to understand their ESG priorities and challenges to Helping Our To support our clients’ needs, we continue ESG develop new solutions across fixed-income, commodities, securitized products and sustainable real assets, in addition to a full range of solutions in equities and energy transition. Markets also works with Citi research Clients Navigate to expand our expertise, services and and product teams to deliver thought leadership to clients to help integrate and execute their ESG strategies. products across our business to offer strategic sustainability and ESG services Treasury and Trade Our TTS team supports clients in understanding how ESG can impact liquidity and working capital the Low-Carbon Solutions (TTS) management decisions. Our Sustainable Supply Chain Finance program rewards sustainable suppliers and solutions. We support clients across and incentivizes non-performing suppliers, helping clients improve their supply chain resilience. We also Transition sectors. We offer customized products support Export Agency Finance loans for development projects, partnering with development banks and and services to support clients in their export credit agencies. Sustainable Time Deposits and Sustainable Minimum Maturity Time Deposits enable We believe robust client engagement transition to more sustainable business clients to indirectly facilitate investment in environment and social projects. Clients may also invest in a across sectors is essential for the global models and practices to help facilitate range of third-party Money Market Funds that have been identified by their providers as having ESG-relevant economy to reach net zero emissions. To investment strategies. In 2022, EMEA TTS introduced a recycled plastic cards program for corporate card progress toward a low-carbon future. customers using 85% recycled industrial waste. that end, we are working collaboratively with our clients in decarbonizing and We have reorganized our businesses Citi Global Wealth Through its Investing with Purpose approach, Citi Global Wealth offers managed opportunities, alternative helping them in their transitions. We are across the firm, with dedicated teams investments and tailored exposure to capital markets to help clients pursue their financial and sustainable investment objectives. It also provides opportunities for private clients to invest alongside our firm’s already engaging with numerous clients working on the low-carbon transition. institutional clients in capital markets transactions, such as energy transition solutions. Its offering on their climate exposure profiles. We The table at right illustrates the ways we encompasses four approaches that seek varied sustainability outcomes: Socially Responsible, ESG are discussing the specifics of clients’ have integrated support for our clients Integration, Thematic and Impact. transition plans, including pathways to in achieving their low-carbon transition Citi Commercial Citi Commercial Bank takes a client-centric approach to supporting mid-sized companies on a achieve those plans and the metrics they efforts across our organization. Bank (CCB) decarbonization journey, catalyzing sustainable financing and offering advisory services to companies are using to assess their progress. We amid rising stakeholder expectations on sustainability. CCB supports growing sustainability-focused companies as they look to scale their businesses across the globe, develop solutions and navigate changing business environments. CCB also plays a key role in facilitating and originating social finance. Citi 2022 ESG Report Page 22

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our $1 Trillion Goal Financing the Low-Carbon Transition Financing Social Impact to global markets to mobilize capital, with the In fact, for 13 consecutive years, Citi has been Financing goal of providing support to social enterprises the No. 1 affordable housing lender in the U.S., and small businesses in these communities as published in Affordable Housing Finance. to accelerate and optimize their work and to Social integrate social impact into our business model At Citi, being a leader in the affordable housing as a part of this process. The recent expansion industry does not just mean making debt Impact of Citi Social Finance builds on our 15-plus-year and equity capital available to expand the track record of developing new business models U.S. affordable housing supply; it also means and partnerships, leveraging market-based being an innovator and market leader. Over the approaches to help improve the livelihoods of past several years, we have worked with our Addressing societal challenges through social low-income communities around the world. clients to find new ways to lower the cost of financing activities is a central part of our building housing and to increase the supply of $1 Trillion Goal for Sustainable Finance by 2030. This work, which is focused on supporting housing for our most vulnerable populations. This includes financing activities that support emerging markets, is complemented by our For example, Citi was among the first banks to access to affordable basic infrastructure, social finance activities in higher-income provide construction loans to projects using affordable housing, diversity and equity, countries. Examples include our work to finance modular, or factory-built, housing. economic inclusion, education, food security affordable housing projects in the U.S. and to and healthcare. underwrite bonds that help advance a range of social solutions. Social Finance in Supporting Emerging Markets INVESTING IN LOW-INCOME Affordable Housing Billions of people around the world lack access HOUSEHOLDS to basic necessities — clean water, education, As part of our social finance focus, we are Supporting affordable housing is an important electricity, financial products, housing and aiming to invest in opportunities for 15 million element of our $1 Trillion Sustainable Finance medicine — which significantly hampers their low-income households globally, including Goal. We focus on financing affordable economic progress and social growth. Our 10 million women, by 2025. In 2022, Citi housing in low- and moderate-income urban Social Finance team helps to meet our $1 Trillion provided more than 2.5 million households, and suburban areas in an effort to ease the Sustainable Finance Goal by working across including nearly 1 million women, with affordable housing crisis in the U.S. We offer a Citi businesses globally to develop scalable access to essential goods and services in range of housing finance solutions, including business platforms and client solutions that emerging markets. construction lending, tax credit equity and enable the bank, our clients and partners to permanent financing through our balance sheet. expand financial inclusion, accelerate access to basic services, boost job creation and scale Citi Community Capital, the bank unit through social infrastructure development in emerging which we finance all types of affordable housing markets. The team leverages our firm’s local and community development projects, reported expertise, multiple balance sheets and access approximately $6 billion of lending to finance affordable rental housing projects in 2022. Citi 2022 ESG Report Page 23

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our Net Zero Commitment Our Approach to Managing Climate Risk Reducing Climate Risk in Our Financing Our climate risk and net zero work are related and client engagement and transition are a key The targets were developed with reference With each sector that we bring into our Net Zero reinforce each other. Whereas our climate risk component of our net zero commitment. Our to the UN Environment Programme Finance Plan, we lean on what we have learned from the work focuses on the identification, measurement philosophy is to meet our clients where they Initiative’s Guidelines for Climate Target Setting other sectors, including the methodologies and and management of key risks arising from climate are and help them identify areas where they for Banks. metrics used and the client engagement tools we change, our net zero work focuses on our impacts can decarbonize. have developed. As we make progress, we also on the climate and achieving our net zero continue to expand our climate-related resources. emissions reduction targets, which also help We are seeing interesting developments among reduce risk. There are common links between the the largest integrated oil and gas companies, two workstreams. For example, both rely on which are investing in technologies that leverage common data elements such as GHG emissions their current technical expertise and capabil- and a better understanding of our clients’ ities, ranging from offshore wind development, * Our Net Zero Plan climate change mitigation and/or adaptation to biofuels, to hydrogen, to carbon removal plans. Additionally, risk management tools can technology. Other clients, however, have An overview of our Net Zero Plan, including our approach to governance, implementation help us achieve our net zero goals, and our Net less ability today to branch out from oil and strategies and engagement, is outlined in the graphic below. Zero Plan can drive risk mitigation, particularly for gas production, and instead are focusing on credit, strategic and reputational risk. decarbonizing their operations. Although we GOVERNANCE acknowledge that operational Scope 1 and 2 Our commitment to net zero is significant, GHG emissions are a fraction of the Scope 3 Board of Directors Climate and Climate Risk given the size and breadth of our portfolios GHG emissions from the combustion of oil and relevant Board ESG Council Sustainability Steering Group Committees Council and businesses. To achieve it, we engage with and gas, we also believe that any efforts to new and existing clients at varying stages of decarbonize today — for example by increasing IMPLEMENTATION STRATEGY ENGAGEMENT STRATEGY METRICS AND TARGETS transformation in their strategies and goals, operational efficiency or decreasing methane as they navigate the transition to a low-carbon emissions — amount to real GHG emissions economy. We have developed a Net Zero Review reductions and climate benefits, and provide $1 Trillion Sustainable 2030 sectoral targets Finance Goal Investor and stakeholder Template to aid us in this process. some clients with a foothold to make progress engagement Absolute emissions and and potentially identify further opportunities Internal policy development emissions intensity metrics Energy is one sector where transition consider- for decarbonization. and implementation Regulator and policymaker (including baselines) ations are particularly complex. The expected Internal training and engagement Sectoral exposures shift away from fossil fuels globally, in pursuit capacity building Client engagement and review of renewable and alternative energy, will have a 2030 Interim Targets Operational targets and significant effect on clients in carbon-intensive Business unit restructuring baselines sectors — including coal mining, power gener- Since the announcement of our net zero ation and certain segments of the energy sector. commitment in 2020, we have established FOUNDATIONS The financial services sector can play a signif- 2030 interim targets for the following six loan icant role helping to enable low-carbon business portfolios. Net Zero emissions by 2030 Net Zero emissions by 2050 Net Zero models. As a global bank with exposure to many commitment for operations commitment for financing Transition Principles • 2030 targets established in 2022: carbon-intensive segments of the economy, and Energy, Power as a top lender to the energy sector in particular, * Each of the elements of our Net Zero Plan portrayed in the graphic above is discussed in more detail in our 2022 TCFD Report. Citi has an opportunity and a responsibility to • 2030 targets established in early 2023: See page 7 of that report for a graphic with links to more information. support our clients in their transition. As such, Auto Manufacturing, Commercial Real Estate, Steel, Thermal Coal Mining Citi 2022 ESG Report Page 26

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our Net Zero Commitment Our Approach to Managing Climate Risk Reducing Climate Risk in Our Financing Advancing Our Approach to • Outstanding funds: the funds actually transition evolves. We will continue to be trans- 2030 Emissions Reduction Targets table on the Achieving Sector Targets drawn down on such available credit parent about the impacts of the data lag while following page. We are continuing to focus on client engagement (per PCAF Standard) moving forward with our climate commitments. There are a number of contributors to fluctua- as a critical step in the implementation of our For the purposes of understanding our absolute As disclosed regarding our approach to net zero, tions in financed emissions from year to year, Net Zero Plan. One of our ongoing engagement financed emissions, forward-looking emissions after calculating our baseline, we assess an including credit exposure, the company value priorities is to identify clients with high- management and establishing absolute and appropriate metric (absolute or intensity) and (Enterprise Value Including Cash [EVIC] for emissions footprints and engage in climate- intensity targets for applicable sectors, we rely benchmark against sector-relevant scenarios public companies, Debt and Equity for private related discussions, such as emissions reduction on the first of these approaches: total committed to set targets. For more information on metric companies), and the company emissions. plans. To aid these efforts, we are piloting a Net exposure. This more accurately reflects the selection, please see our 2022 TCFD Report. We saw these dynamics play out last year, Zero Review Template. This assessment identifies maximum amount that Citi has agreed to finance particularly in the Energy sector, where the gaps and provides a roadmap for prioritizing for clients, although we provide both metrics for Update on Interim Targets for data mismatch between high, 2021 year-end engagement where it is most needed. transparency. Our Energy and Power Portfolios energy company valuation and decreased, The Template uses some of the same inputs Last year, we reported on our initial Net Zero 2020 production and emissions resulted in Obtaining more reliable and actionable climate Plan for our Energy and Power portfolios, lower financed emissions figures for 2021. In as our Climate Risk Assessment & Scorecard data continues to be a challenge, and we have an effort to adjust for one of these superficial (CRAS), including absolute emissions and been supportive of regulatory developments including baseline financed emissions and emissions intensity data, as well as disclosed interim 2030 reduction targets for the two drivers, we have tested a proposed PCAF to ensure more consistent, comparable and sectors. The table below provides an update on EVIC adjustment method (intended for asset targets and the climate score output from our reliable climate disclosures. At the time of managers’ portfolios) to create a normalized CRAS. The Template also includes questions the analysis disclosed in this report, the data our progress during the first year following the about clients’ decarbonization plans, including establishment of those targets. For an overview metric by calculating an adjustment factor available for calculating financed emissions and of all our net zero targets set to date, see the based on the portfolio EVIC fluctuation. The factors such as governance, scope (what emissions intensity and measuring progress was emissions categories are included), capital nearly two years old. For example, the baseline expenditure plans and asset retirement metrics for the 2030 targets we set for the schedules (where available/applicable), among Auto Manufacturing, Commercial Real Estate, PROGRESS TOWARD ENERGY AND POWER TARGETS others. The results of this analysis will help to Steel and Thermal Coal Mining sectors were guide our strategy and prioritization for client developed using 2020 emissions data, which Additional detail about our progress related to these sectors is available in our 2022 TCFD Report. engagement. During 2022, we began piloting was the most recent data available at the time 2020 2020 2021 2021 this tool for our Energy and Power portfolios, we began the analysis. This lag time means our Sector Financed Emissions Emissions Intensity Financed Emissions Emissions Intensity and we plan to have Net Zero Review Templates metrics are based on out-of-date data, and may for additional sectors as we set more interim delay our ability to confirm progress against our (Committed Exposure) (Physical) (Committed Exposure) (Physical) emissions reduction targets. interim targets in a timely fashion. We hope that Energy* 143.8 81.4 100.3 81.8 *** the data will improve as consistency develops in (Scope 1, 2, 3) million mt CO2e g CO2e/MJ million mt CO2e g CO2e/MJ Developing Sector Targets disclosures of key environmental metrics, and 12.0 313.5 11.0 308.2 ** million mt CO e kg CO e/MWh million mt CO e kg CO e/MWh The PCAF methodology informs our calculation that as the lag is reduced we will be able to more Power 2 2 2 2 of absolute financed emissions. We calculate accurately present progress against our 2030 (Scope 1, 2) (Scope 1) (Scope 1, 2) (Scope 1) absolute financed emissions metrics in two ways: targets closer to the target year. * Includes project finance for 2021. • Committed funds: the capital available to ** Includes project finance for 2020 and 2021. Citi plans to review our emissions reductions *** Adjusting for EVIC fluctuations, the normalized result is 113.8 million mt CO2e. a client for a certain use targets periodically, post 2025, as the energy Citi 2022 ESG Report Page 28

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our Net Zero Commitment Our Approach to Managing Climate Risk Reducing Climate Risk in Our Financing normalized energy financed emissions footprint is 113.8 million mt CO2e. As there is no recog- Sustainable STEEL Principles 2030 EMISSIONS REDUCTION TARGETS nized method for normalizing this fluctuation, this year we disclosed this adjusted metric to Citi participated in a working group facil- The following table includes an overview of all the sectors for which we have established 2030 acknowledge that these calculations, heavily itated by the Rocky Mountain Institute emissions reduction targets as of the end of 2022. We established targets for our Energy and based on estimation, will go through a large (RMI) to design and develop the Sustainable Power portfolios in 2021 (progress update included on the previous page) and introduced targets degree of refinement over the coming years. We STEEL Principles (SSP) — the first climate- for the other four sectors in 2022. will continue to monitor methodologies, including aligned voluntary framework for lenders any forthcoming PCAF guidance, to normalize measuring emissions in the steel industry — and the related methodology. Released in Sector Baseline (Year) Target Metric Climate Scenario 2030 Target these fluctuations. As we continue to refine our 2022, the SSP provide banks with a common data and metrics, we will maintain transparency measurement and disclosure framework to Energy 143.8 Absolute Net Zero Emissions 29% and continue to assess appropriate pathways to (Scope 1, 2, 3) million mt CO2e by 2050 reduction from 2020 finance the steel industry on its path to net ** stay aligned with our net zero commitment. (2020) (NZE 2050) baseline zero carbon emissions. 102.1 million mt CO e 2 Developing Targets for The SSP methodology calculates emis- Additional Sectors sions intensity at the asset level within a Power 313.5 Intensity Sustainable Devel- 63% fixed-system boundary. It separates the (Scope 1) kg CO2e/MWh opment Scenario reduction in Scope 1 (2020) (SDS OECD)** intensity per MWh Building on the work we have done for our production of steel into two categories, each from 2020 baseline Energy and Power portfolios, in 2022, we with its own unique emissions reduction 115 kg CO e/MWh expanded our efforts to establish interim 2030 pathway: ore-based (mined) and scrap- 2 reduction targets for our Auto Manufacturing, based (recycled). Auto 154 Intensity Net Zero Emissions 31% Commercial Real Estate, Steel and Thermal Coal Manufacturing g CO2e/km by 2050 reduction in intensity We used the SSP methodology to aid with ** (Scope 1, 2, 3) (2021) (NZE 2050) per km from Mining portfolios (see table to the right). More setting the scope, boundaries and targets 2021 baseline information about the analysis we conducted for our Net Zero Plan for the Steel sector, 106 g CO2e/km to establish these targets, including scenario setting a single emissions intensity target for the sector that accommodates the differen- Commercial Real 61 Intensity Carbon Risk Real 41% selection and the scope and boundaries of the 2 tiated decarbonization pathways for primary Estate* kg CO2e/m Estate Monitor reduction in intensity targets, is available in our 2022 TCFD Report. (Scope 1, 2) (2021) Pathways per m2 from and secondary steel producers represented 2021 baseline by a Climate Alignment Score. For additional 2 In 2023 and 2024, we will conduct further 36 kg CO2e/m analysis to facilitate target setting for the details, see our 2022 TCFD Report. Steel SSP Climate Intensity Net Zero Emissions SSP Climate Aluminum, Agriculture, Aviation, Cement and (Scope 1, 2, 3) Alignment by 2050 Alignment Score = 0 Shipping sectors. Score TBD (NZE 2050)** (2021) Thermal Coal 7.9 Absolute Sustainable Devel- 90% Mining million mt CO2e opment Scenario reduction from 2021 ** (Scope 1, 2, 3) (2021) (SDS OECD) baseline 793 thousand mt CO2e * Within North America only, excluding Citi Community Capital portfolio. **International Energy Agency Scenarios Note: Updates to improve data quality of the baseline numbers may result in changes to these targets. Citi 2022 ESG Report Page 29

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our Net Zero Commitment Our Approach to Managing Climate Risk Reducing Climate Risk in Our Financing Transition obstacles faced by developing CLIMATE RISK IN OUR MARITIME SHIPPING PORTFOLIO countries: Less robust socioeconomic insti- Reducing tutional capacity constrains implementation Citi is a founding signatory of the Poseidon Principles, which establish a framework for assessing and of low-carbon transition pathways across disclosing the climate alignment of ship finance portfolios. As a part of our commitment, we have emerging markets. In addition, developing Climate disclosed our climate alignment score since 2019. These disclosures are published alongside those of countries often have more limited capacity other signatories in an annual report published on the Poseidon Principles website. to transition, due to unequal and challenged Risk in Our Our most recent alignment score, based on 2021 data, illustrates slightly less alignment, up to access to climate finance. They also frequently +12.2% from +11.7% (a higher score represents greater misalignment with the Principles). Our score lack the investment capital necessary to fund Financing. was impacted by our clients’ operational priorities as well as the residual impacts of the COVID-19 adaptation and mitigation solutions, including pandemic, in particular the effect of port congestion and demand in the container sector, as well as the renewable energy and technology-driven clean tentative resumption of the cruise industry in 2021. The cruise segment represented +6.3% of our total energy alternatives. alignment score of +12.2%. Our cargo alignment score was also impacted in 2021 due to the significant tonnage demand increase in dry cargo, as well as the pre-existing issues in the container sector. Most Increased regulatory requirements and lack of Evolving Our of the misalignment relates to three individual client situations in which COVID-19-driven operational harmonization: For example, the Security and issues during 2021 are unlikely to have been repeated in 2022. We therefore expect improvement in Exchange Commission (SEC) has proposed a Approach next year’s report for our 2022 total alignment score. rule — the Enhancement and Standardization of Climate-Related Disclosures for Investors — Integrating climate risk into our policies and that would require registrants (including Citi) to sector standards provides the foundation Challenges and progress and providing clear year-over-year include certain climate-related information in for consistently identifying and managing comparisons of data. We are engaged with SEC filings. We have provided comments on the climate-related risks across our company. Since Emerging Issues leading data vendors and industry groups in an proposed rule, showing support for the overall 2015, our ESRM Policy has included approaches effort to rapidly improve overall data quality, goal and identifying some areas of concern. to financing clients involved in coal mining or coal We continue to be aware of evolving challenges and there are several efforts underway within (Read our full comments.) In addition, Europe is power. In addition, our most recent 2022 updates and emerging issues, some of which include: Citi to improve the quality of the data we rely rapidly expanding requirements, including the to address the climate-related impacts from beef on. In addition, we have processes and working Corporate Sustainability Reporting Directive. and soy production in sensitive ecoregions of The availability and quality of climate-related groups across the firm focused on data quality Between these two frameworks, there are Latin America are discussed in the Environmental data: As discussed elsewhere in this section, our and governance. We will continue to advance differences in the topics to be disclosed, the and Social Risk Management section. reliance on data that is based on estimated or our data improvement work in parallel with level of detail required and the materiality unverified figures makes precision difficult and our decarbonization efforts, with the intention thresholds to apply. Such issues increase the creates challenges for many of our climate- of incorporating additional insights as they complexity of our disclosure processes. related activities, including scenario analysis, become available. setting emissions reduction targets, tracking Citi 2022 ESG Report Page 32

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Operational Footprint Goals Sustainable and Healthy Buildings Efficient Travel Managing Climate Risk in Our Operations Environmental Performance for Operations programs. In recognition of how important it is Sustainable to design buildings for employee well-being, we on the five campus buildings in conjunction with have included WELL certification as an aspect of roof replacement. We will continue to purchase and Healthy our sustainable building goal for 2025. electricity from local, renewable sources for this site’s remaining energy needs. In addition, a 2022 renovation of the facility included several features Buildings that promote wellness and sustainability and will contribute to LEED certification. Sustainability/wellness features: Whether undertaking new construction or • Use of local renewable power renovating existing buildings, we prioritize • Planned on-site solar installation health, efficiency and sustainability, to Tampa, Florida • Low-flow plumbing fixtures expected to reduce enhance wellness and minimize the environ- water consumption by 36% (250,000 gallons mental impact of our facilities worldwide. We Our use of renewable electricity at our Tampa annually) accomplish this through a variety of programs facility illustrates our strategic approach to priori- • Improved indoor air quality due to increased and initiatives, including: tize on-site generation where possible, followed ventilation and the use of low-emitting and • A goal to have 40% of our facilities (by floor by local sourcing as needed. In 2022, we began low-toxicity building materials area) LEED-, WELL- or equivalent certified purchasing locally generated solar power for the • A health center and fitness center by 2025 majority of the building’s electricity needs. In • Design that increases natural daylight and Johnson City, Tennessee 2023, we will begin installing rooftop solar panels views of nature • Alignment with the health and safety standards needed for WELL certification We have renovated and relocated our operations, that were formerly in Gray, • An ambition for all new buildings to be Tennessee, to our new facility in Johnson zero-carbon-ready by 2030 City. This renovation aligns with our • Installation of on-site renewable energy zero-carbon-ready principles, which energy rooftop system, providing both solar generation address operational and embodied carbon electricity and solar water heating for the site emissions, inclusive of energy use, energy • Improved indoor air quality through increased • Additional initiatives and improvements to supply, integration with utilities and ventilation, an air disinfection system and conserve energy, reduce water consumption material use. This building will also be ongoing monitoring and minimize waste LEED-certified. • Centralized waste management for recycling, Sustainability/wellness features: Hong Kong as well as upcycling of food waste and coffee In 2022, in alignment with our commitment to grounds healthy buildings, we undertook an analysis of • A tight building seal to improve energy efficiency and thermal comfort Our One Bay East facility features on-site • Green cleaning, using products and methods all Citi locations to evaluate the policies and renewable electricity and was awarded WELL designed to preserve human health and procedures we already have in place, with an • Improved energy efficiency through the Platinum and LEED Platinum certifications. use of heat pump water heaters, a variable environmental quality aim to strategically expand wellness initia- Sustainability/wellness features: • An on-site fitness center for employees, and tives through building design and operations. refrigerant flow system and a dedicated outdoor air system • On-site renewable electricity generation cafeteria options that encourage healthy food We also seek building certifications from the through a hybrid electrical and thermal and beverage choices International WELL Building Institute™ and • Use of Green-e Renewable Energy Certif- participate in WELL rating and benchmarking icates to offset 100% of electricity use Citi 2022 ESG Report Page 36

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Operational Footprint Goals Sustainable and Healthy Buildings Efficient Travel Managing Climate Risk in Our Operations Environmental Performance for Operations of these platforms for their daily interactions. might be required, we engaged a global insurer Global Wellness As many of our employees return to the office Managing and climate modeling firm to use catastrophe at least a few days a week, we are relying on the models to develop a baseline understanding of In 2022, we renewed our WELL Health- efficiency efforts we had in place before the Climate our current risks and then apply future climate Safety rating for all Citi facilities globally, pandemic. For instance, we provide U.S.-based scenarios to evaluate the potential changes in indicating that our buildings are safe and employees pretax dollars to cover the cost of physical damage risk. This kind of modeling and healthy environments. We also continued commuting by subway, bus, train, ferry and Risk in Our analysis helps us better understand and monitor our participation in the WELL at Scale vanpool. We also offer bike storage and bike the risks our facilities could be exposed to due Program (previously the WELL Portfolio racks at several facilities and sponsor bike share Operations to climate-related weather events. Program), a benchmarking program for programs, known as the Citi Bike Program, in measuring and improving organizational New York City, Jersey City and Miami. At our health performance across facilities. In car park in the Citigroup Centre in London, we addition, we formalized our commitment offer a dozen charging stations for those driving Because Citi operates in nearly 100 countries, Transparent Reporting of to diversity, inclusion and universal design our facilities could potentially be exposed to by enrolling in the WELL Equity Rating and electric vehicles. In addition, the introduction Operational Climate Impacts expanding our team’s capacity in this area. of remote and hybrid work models for our a range of climate-related risks. To increase employees should significantly cut down on our resiliency, we have invested in climate • Scope 1 and Scope 2 GHG emissions: Wellness features: emissions related to employee commuting. adaptation solutions in a number of critical Included in this ESG report and in our • Health-Safety seal: Communicates to facilities. In addition, our crisis management CDP (formerly the Carbon Disclosure occupants and visitors that evidence- Due to our global scale, we often need to meet team has developed action plans to address Project) response. We follow the GHG based measures and best practices for with clients, partners, teams and other stake- immediate risks and support our employees Protocol Corporate Standard and Scope health and safety have been adopted and holders across the world. To build awareness and customers before, during and after adverse 2 Guidance for measuring and reporting third-party verified by WELL of how business travel impacts our carbon events. Our business continuity team also has both market-based and location-based • WELL at Scale: Annual portfolio assess- footprint, our colleagues are able to see the plans in place to help Citi resume business Scope 1 and Scope 2 GHG emissions. ment based on work to support and • Scope 3 CO emissions: Air and train emissions data related to their air travel when operations as quickly as possible in the 2 enhance the health and well-being of they book travel reservations. aftermath of an extreme climate event. business travel included in this ESG employees and customers report; our 2021 Scope 3 GHG screening Our Location and Realty Services (LRS), Crisis inventory, associated with employee Management and Business Continuity teams activity and our supply chain, is reported EMPLOYEE ENGAGEMENT help us to monitor, prepare for and respond to in our 2022 TCFD Report In 2022, Citi launched the Green Champions extreme weather events or other disruptions to • Assurance: GHG emissions and environ- Efficient Network, with 41 teams around the world, our operations. In addition, LRS conducts due mental data for operations and business focused on engaging in sustainability- diligence for each proposed new location and travel are verified and assured by SGS, a Travel related activities in their communities. The leading third-party inspection, verifica- Green Champions hosted an Earth Day reassesses the properties’ structural resilience tion, testing and certification company. Challenge in 2022, featuring tasks to enable periodically, based on risk and following signif- (SGS Assurance Statement) more sustainable living at work and at home. icant events. These assessments take internal For many years, we have encouraged employees Additional Champions groups within our Citi standards, as well as local and international to use video and web conferencing technologies businesses focus on monitoring opportu- codes, into account. rather than traveling, whenever possible. With nities and sharing sustainability news with the onset of the COVID-19 pandemic, we quickly their departments. To gain insight into how our physical climate transitioned the entire company to adopt use risk might change and what related adaptations Citi 2022 ESG Report Page 37

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 Building Equitable and QUICK LINKS Resilient Communities Action for Racial Equity Citi Impact Fund Citi Foundation At Citi, we believe we have a role to play in • Continued to invest in a broad suite of addressing the inequities facing our global initiatives designed to help close the racial Investing in Our Communities society to help build thriving, resilient, equitable wealth gap in the U.S. through Citi and the and inclusive communities for generations Citi Foundation’s Action for Racial Equity 2022 Highlights to come. We invest in reaching underserved commitment. markets; improving financial security, access to • Expanded the Citi Impact Fund to $500 basic human necessities and affordable housing; million. The fund contributes to our $1 Trillion $3B $500M ~$6B and enabling economic mobility and progress Sustainable Finance Goal by making equity mobilized in social expanded size of the financed for affordable in communities we serve around the world. We investments in companies that address finance activity in emerging Citi Impact Fund housing projects continue to focus on our work to help advance societal challenges. markets in 2022 in the U.S. economic opportunity and address social challenges — using the breadth of the firm’s • Sustained our commitment to affordable business capabilities, expertise and volunteers, housing in the U.S. $94M 56K+ as well as the Citi Foundation’s philanthropy. • Expanded efforts to strengthen the nongov- in grants provided by volunteer engagements during Throughout 2022, Citi and the Citi Foundation ernmental organization (NGO) sector through the Citi Foundation the firm’s annual Global the Citi Foundation’s strategic philanthropy. Community Day invested in communities around the world, through the following key programs and activities:1 • Fulfilled the Citi Foundation’s Pathways to • Furthered our social finance efforts as part Progress commitment to connect young to enhance the scale of our impact through for our volunteer efforts and direct engagement of our $1 Trillion Sustainable Finance Goal people to training and workplace experiences. social finance, we have established a network opportunities, we are embracing a return to by 2030. • Responded swiftly to major natural disasters of bankers focused on transactions in emerging in-person events as the world recovers from and humanitarian crises around the world. markets, and increased internal training and COVID-19. In addition, the Citi Foundation is In the past year, we have taken steps to impact measurement. We have also extended charting a new path with an evolved global giving enhance and expand how we work internally our work with development finance institutions, strategy that prioritizes innovation and equity. to strengthen external impact. For example, impact investors and private-sector clients. As 1 Throughout this section, in calculating estimates of impact metrics, we use data from third parties. Citi 2022 ESG Report Page 42

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: An Update on Our Progress in the U.S. Highlights Since Our Year Two Update As a founding member of the Biden-Harris To support revenue growth for MDIs, we In line with the firm’s continued Citi created a Special Purpose Credit administration’s Economic Opportunity involved them in more than $12 million commitment to expand access to banking Program in 2022, which enhanced our Coalition (EOC), Citi is leading a in affordable housing loan participation products and services that can help existing proprietary HomeRun and Lender work stream to establish a Center opportunities between March 2022 and advance economic progress, especially for Paid Assistance programs, growing lending of Excellence, a shared platform that March 2023. underbanked and unbanked communities, penetration through those programs by will provide Community Development Citi eliminated overdraft fees, returned approximately 9%. Financial Institutions (CDFIs) and Total loan participation volume for MDIs item fees and overdraft protection fees Minority Depository Institutions (MDIs) since the start of Action for Racial Equity: beginning in June 2022. with access to skills-based volunteers, In 2021, Citi invested $200 million in five technology and data from EOC members. $48.3M Black-owned affordable housing devel- Walmart and Citi are collaborating to opers, co-managed by L&M Development introduce Bridge built by Citi to the Partners. As of February 2023, more Citi made an equity investment in the than a third of the capital was deployed, Bank of Cherokee County, in Oklahoma, By the end of 2022, there were four Children amounting to over 3,300 units in adding the first Native American MDI to Savings Account programs operating on 10,000 five states. our portfolio and the 12th MDI overall. the Citi Start Saving system around the small and medium-sized businesses U.S., serving school systems that reach (SMBs) in Walmart’s U.S.-based supplier Total since the start of approximately network. Bridge is a digital platform that The mortgage team at Citi hired Action for Racial Equity: connects SMBs with more than 75 lenders, 21 Community Lending Officers focused 667,000 including 20+ diverse financial institu- on serving diverse and traditionally $46M tions, that provide qualifying businesses underserved communities across STUDENTS. with loans of up to $10 million. 16 markets in 2022. As part of the Affordable Access Banking Initiative, launched collaborations with Spent more than $1.3 billion with diverse As of December 2022, the Citi Foundation Juma Ventures, Mission Asset Fund and suppliers in 2022, including 44% exceeded its three-year target to invest UnidosUS to serve diverse households by expanding access to the Citi Access $599M of Citi Impact Fund portfolio companies $100M Account Package, which includes low-cost with Black-owned businesses alone. are founded or co-founded by a Black in community change agents advancing savings and checking products. entrepreneur. racial equity. For more about our efforts through September 2022, see our Year Two Progress Report. Citi 2022 ESG Report Page 44

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 Citi Impact Citi Impact Fund: Progress to Date Fund In 2022, we expanded the size of the Citi Impact Fund from $200 million to $500 million. The Citi Impact Fund makes direct equity Since the Fund’s launch in 2020 through March 31, 2023: investments in double-bottom line companies that are applying innovative solutions to address some of society’s most pressing challenges. The Impact Fund identifies, invests ~$123M* in and supports the growth of innovative invested in double-bottom line 72% 36% 44% startups and diverse founders that help solve companies and funds critical issues for underserved communities, creating lasting change and increasing access, affordability and inclusion. The fund is 39 committed to reaching underserved benefi- of our portfolio companies are of our portfolio companies are of our portfolio companies are companies and funds founded or co-founded by people founded or co-founded by founded or co-founded by ciaries in the areas of Financial Inclusion, received investment of color and/or women a woman entrepreneur a Black entrepreneur Future of Work, Climate Resilience and Social Infrastructure, including more equitable access to healthcare, mobility and housing. Examples of 2022 Citi Impact Fund investments: Women and people of color continue to receive only a small fraction of venture capital investment. Recognizing these gaps, the Citi Impact Fund intentionally allocates capital to companies led by these historically undercap- RapidSOS Bitwise Industries Rheaply MoCaFi italized founders. Social Infrastructure Future of Work Climate Resilience Financial Inclusion The fund leverages the full scale of capabilities A New York-based company that A Fresno, California-based company, A Chicago-based software company A New York-based fintech founded provides faster, more effective led by Latinx, women and LGBTQIA+ founded by a Black entrepre- by a Black entrepreneur that provides and expertise across Citi to provide differen- emergency response through the founders, delivering digital solutions, neur helping large organizations public benefits access, low-cost tiated value-add to its portfolio companies. creation of a universal, data-driven creating access for those from operationalize within the Circular mobile banking, credit-building and safety platform covering more marginalized communities to Economy without having to design a wealth-building tools to underserved than 95% of the U.S. population. in-demand tech skills, and ultimately program from scratch. The company communities. The company’s inno- RapidSOS provides more efficient catalyzing economic transformation focuses on reuse by providing vative banking platform connects and inclusive emergency response in overlooked places. visibility into idle goods an orga- government and philanthropic for more than 165 million emergen- nization already has, preventing resources to communities facing cies annually. over-procurement and waste. limited economic mobility and finan- cial equity across the country. * Reflects capital funded through March 31, 2023. Citi 2022 ESG Report Page 45

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 Strategic Philanthropy: The Citi Foundation Through strategic grantmaking efforts, the Citi Foundation promotes economic progress in underserved communities around the world, focusing on programs that increase financial inclusion, catalyze job opportunities for youth and reimagine approaches to building economically vibrant communities. The Foundation takes a holistic, end-to-end approach to ensure the success of our grantees — from ideation to execution to evaluation and assessment, and post-investment support. In 2023, the Foundation introduced the Global Innovation Challenge, a refreshed operating model that continues to deliver on its mission while GLOBAL INNOVATION CHALLENGE: FOOD SECURITY increasing social impact. With this updated approach, the Foundation is The Citi Foundation announced its first-ever Global Innovation Engagements lasting evolving its operating model to become: Challenge to support community organizations around the • More innovative: Moving from traditional, long-term, direct-service grant world that are developing innovative solutions to improve food 2 relationships toward shorter-term funding of innovative ideas with the security. This inaugural challenge will provide a total of ability to catalyze change. $25 million to 50 organizations working to pilot or expand ideas years and projects designed to improve food security and strengthen • More equitable: Moving from invitation-based proposals to a challenge the financial health of low-income families and communities. model, where eligible organizations across the world have an opportunity The Foundation is prioritizing projects in four areas: to apply for funding through an open request for proposals (RFP). $500K • Access will be awarded to The Foundation’s first Global Innovation Challenge is focused on food each recipient security and strengthening the financial health of low-income families and • Availability communities. • Affordability • Resilience 50 Eligible organizations will be awarded grants based on the merits selected organizations of their ideas, and the open proposal process will enable new community organizations to become part of the Foundation’s grant portfolio. The Foundation will also offer post-award support to help ensure the success of these programs. Citi 2022 ESG Report Page 46

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 PATHWAYS TO PROGRESS COMMUNITY FINANCE INNOVATION FUND CRISIS RESPONSE Pathways to Progress has been one of the Citi Foundation’s As the economic challenges of American households increase, Citi and the Citi Foundation have a strong tradition of supporting flagship initiatives since 2014. It aims to equip young people Community Development Financial Institutions (CDFIs) and communities affected by disasters and humanitarian crises. In 2022, — particularly those from underserved communities — with Minority Depository Institutions (MDIs) play a critical role we prioritized responding to the humanitarian crisis in Ukraine and the skills and networks they need to succeed in today’s rapidly delivering credit and other asset-building financial services to surrounding countries. Our support for Ukraine relief efforts included changing economy. The end of 2022 marked the fulfillment of the unbanked and underbanked households and entrepreneurs in $500,000 donated by Citi employees, which Citi matched dollar Foundation’s most recent $100 million three-year commitment low-income communities and communities of color. Building on for dollar, and more than $320,000 raised by Citi clients in the U.S. through this initiative to provide economic opportunities for our long history of promoting financial inclusion, the Foundation through our ThankYou Rewards Program. young people. launched the Community Finance Innovation Fund in 2022. This fund provides grants to help bolster the work of these special- Highlights: 2022 Highlights: 2020–2022 ized organizations working to level the economic playing field for low-income communities and households. Supported nongovernmental $2.5M+ 1,000+ $120M+ organizations (NGOs) in to global and local NGOs employees volunteered 4,000 Highlights: working to support Ukrainian hours to support those displaced to connect young people 85+ to training and workplace refugee relief, including by the crisis in Ukraine experiences countries and territories $50M 12 committed over community organizations 30,000+ three years that are working to support $1.5M $1.2M 650,000+ CDFIs and MDIs in creating committed by the Citi Foundation youth enterprises created young people mentored positive impact for low-income granted for immediate relief or expanded communities and communities and medium-term support for emergency aid to communities from the Citi Foundation affected by Hurricanes Fiona of color and Ian 200,000+ internships and apprenticeships Citi 2022 ESG Report Page 47

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data Talent and Diversity, QUICK LINKS Equity & Inclusion Our Talent and DEI Strategy Pay Equity 2025 Aspirational Representation Goals Our people strategy is focused on three key to be transparent about our expectations around Our People priorities to help us advance the competitive How We how we work together and honest about where strength of our workforce: improvements must be made. Finally, we focus Strategy • Continuous innovation in recruiting, devel- Work on making our ways of working sustainable, opment, compensation, promotion and both for existing and new colleagues across our engagement of colleagues global bank. Our colleagues drive our progress globally, and • Actively seeking out and listening to diverse In 2022, we adapted and evolved how we Our model provides three possible designa- our ability to attract and retain a highly qualified perspectives at all levels of the organization work at Citi to enable colleagues around the tions: hybrid, remote and resident. Hybrid roles and motivated workforce is foundational to our • Optimizing transparency to promote globe to better integrate work and life, while offer colleagues the flexibility to work at least business. We work every day to foster a culture accountability, credibility and effectiveness delivering the benefits of being together in three days per week in the office and up to of excellence for our people by investing in the in achieving our goals person. We were the first major U.S. bank two days from home. The majority of Citi roles growth and well-being of our colleagues, as well to publicly embrace a flexible, hybrid work are designated as hybrid. Remote roles may as embracing diversity, equity & inclusion (DEI) Our human capital priorities are reflected in the model. In keeping with the vision set by our be performed entirely from outside our office in all we do. culture and inclusivity of our firm, and in the CEO Jane Fraser, to be a human bank, we are locations. Resident roles are jobs that cannot impact and outcomes that our people generate. laser-focused on working in ways that drive be performed remotely, such as tellers in our We constantly strive to ensure Citi remains a collaboration and meaningful connections, branches. No matter what a colleague’s job great place to work — where people can thrive maximize apprenticeship and learning oppor- designation, Citi is committed to promoting an professionally and personally. And we continue tunities, leverage technology to our advantage, inclusive and equitable working environment to do what’s right by our colleagues, clients and support colleagues’ well-being and belonging, and offering resources and benefits to support shareholders. We have a track record of looking and treat our colleagues equitably. them in this model. ahead and putting in place leading practices that support our global workforce, enable In implementing our hybrid work model, we have Our hybrid work environment has had several economic progress and drive our firm forward. focused on keeping our approach consistent and advantages for attracting talent. Hiring on a aligned with our values and priorities. We strive global scale in a hybrid environment has offered Citi 2022 ESG Report Page 49

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data many benefits, including allowing maximum flexibility and access to a broader range of ATTRACTING, RETAINING AND candidates. Applicants interview virtually, ADVANCING THE BEST TALENT which provides a more seamless approach for candidates and managers. Between welcoming Our human capital priorities are founda- new employees and internal mobility, we tional to our success during a dynamic reached 3.3 million global applications, up period for our workforce. 17% year over year, and leading to an increase in the number of total hires, up 27% year over In 2022, year. Through our diverse hiring practices and focus on our people, we continue to hire and 36% maintain an increasingly diverse workforce. of open roles were filled Citi is continuing to build a workforce that is from within the company. inclusive and reflective of our customers and clients. For example, we do this through our We also sustain connections with former diverse slates guidelines for the majority of the colleagues through our Alumni Network, roles we recruit for to have at least two women and in 2022, we hired more than 5,000 and/or U.S. minorities in our interviews for U.S. “boomerangs” back to Citi. hires and at least two women in our interviews for global hires for Assistant Vice President roles and above. Citi 2022 ESG Report Page 50

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data Well-being Benefits In 2022, we focused particularly on expanding off. Colleagues are limited to two sabbaticals mental health and well-being offerings to and receive 25% of their base pay. This is to Support All Our support our colleagues around the world. For available in the U.S. and Puerto Rico, Canada, example, in October 2022, Citi organized a the UK, Hong Kong, Costa Rica, Singapore Colleagues global campaign recognizing World Mental and Japan. Health Day that included workshops for both • Giving Back program, supporting colleagues Our benefit programs and initiatives support the manager and the individual, providing tools the immediate and long-term well-being of and discussion to help colleagues at all levels who have been with Citi for five years or more colleagues in all locations to help them be recognize signs of struggle and appropriate to spend two to four weeks working with a successful at work and at home. Our benefits steps for intervention before a crisis point is charitable institution, while still receiving are designed to align with our values and help reached. These workshops focused on building 100% of their base Citi pay. to attract, engage and retain colleagues. resilience by helping participants to “turn the • A vacation purchase program that allows lens inward” and to realize when their individual colleagues to buy up to five additional days of In addition to competitive compensation and well-being is starting to decline, as well as vacation/planned time off each year. This is standard benefits such as healthcare, retirement developing a toolkit of actions to help recover available in the U.S. and Puerto Rico, Canada and paid time off, we offer colleagues a wide and protect individual well-being. and the UK. range of support for their personal and profes- sional health and development in and outside Our new and enhanced mental health, • Sleepio, a cognitive behavioral program the workplace. Our benefits are consistent within well-being and work-life balance benefits to improve sleep and reduce anxiety and each country where possible and practical, include: depression, for colleagues and their families and we offset a greater portion of their cost for in the U.S. and Canada. lower-paid colleagues. • BetterHelp, a service that provides access • Full-time child care centers in select geogra- to counseling via phone, video conference or phies that allow for part-time and backup To name just a few, these benefits include a live chat for U.S. colleagues, allowing them care to support global colleagues’ hybrid global minimum standard for paid maternity to select a therapist based on gender, race, schedules. and parental leave; adoption, surrogacy and area of expertise and more. fertility assistance benefits; on-site child care • CareNow, a free cognitive behavioral Recognizing Heritage Holidays centers, backup child care and child care service program (offered through LifeWorks) for U.S. Building on the U.S. government’s declaration of discounts; on-site health and medical centers; colleagues and their families – even if they Juneteenth as a federal holiday marking the end well-being-focused concierge services; and paid aren’t enrolled in medical plans with Citi – to of slavery, we added it as a new paid holiday for leave to pursue interests outside of work. address anxiety, depression and more. This U.S. colleagues in 2022. In 2020, Citi imple- Citi is invested in helping employees obtain complements the free and confidential Be mented one additional floating holiday, called the education and skills that will lead to career Well counseling offered on-site at seven of Heritage Day, which colleagues can take at any development and growth. Through personalized our largest U.S. locations. time to honor a day of personal significance. education coaching and planning, employees • “Refresh, Recharge, Reenergize,” a 12-week can find the programs best fit for their needs sabbatical program for colleagues who and goals. Citi supports educational attainment have been at Citi for at least five years — at by prepaying eligible expenses through tuition any level — to pursue personal interests or assistance, and also reimburses employees for education, travel abroad or simply take time eligible out-of-pocket costs. Citi 2022 ESG Report Page 51

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data • Foster an Inclusive Culture by developing to practice their religion in the workplace, U.S. For 18 consecutive years, Citi has received Our Talent inclusive leaders and empowering allies while guiding their colleagues to be allies in a perfect score on the Human Rights Campaign • Drive Accountability by holding leaders these efforts. Foundation’s Corporate Equality Index, a national accountable for working toward new aspira- survey that benchmarks corporate policies and and DEI In 2022, as part of our efforts to celebrate practices for LGBTQ+ workplace equality. tional representation goals and fostering an religious diversity, we hosted an inaugural Iftar Strategy inclusive work environment dinner, open to colleagues of all faiths to come In Brazil, Citi has actively worked to expand the • Engage Clients by deepening client and together and share how they recognize Ramadan. rights and protections of LGBTQ+ individuals. In customer relationships to enhance market- 2022, Citi was among 90 companies and organi- place opportunities At Citi there is no place for any form of hate, zations that signed an open letter supporting At Citi, DEI is foundational to our culture and the including intolerance of religious diversity. We will diversity, respect and inclusion of LGBTQ+ growth of our business. The global reach of our At Citi, we want to ensure our colleagues feel continue to expand our efforts and resources to people in Brazilian workplaces. Out & Equal bank allows us to glean diverse perspectives, empowered to develop and be their true and ensure that colleagues of all faiths, religions, and organized the effort ahead of Brazil’s presidential while also advancing issues that are important authentic selves. Our commitment to DEI starts at backgrounds feel supported and empowered to elections in October. to our people, clients and the communities we the top and is prioritized across the organization, be their true selves in the workplace. serve. Where possible, we aim to have globally with shared accountability among managers. DEI consistent practices that integrate a full range factors, including the representation of women Developing of colleague needs across Talent and DEI issues and racial/ethnic minorities, continue to be Responding to Inclusive Leaders to help us attract and retain professionals who included in senior executives’ scorecards. Global and reflect diversity in all its forms. We encourage senior leaders to drive talent Local Issues To develop leaders dedicated to an inclusive Our Talent and DEI strategy is built on the mobility across their teams. Citi has a focus on culture and equipped to promote one, we offer principles of career development and mobility, internal talent development and aims to provide We respond to global and local issues to support a range of training and development initiatives. consistency and equity in employee experience, colleagues with career-growth opportunities, the values of our company, colleagues, clients, transparency, data-driven decision-making and with 36% of open positions filled internally For example, in 2022, these included the and other key stakeholders, working with various following programs: outcome orientation. This strategy underpins in 2022. These opportunities are particularly nonprofit and community partners to support our ability to build a company where the best important as Citi focuses on providing career the advancement of people with disabilities, • Continued the enterprise-wide rollout of talent wants to work and where people of paths for internal talent, as part of its efforts veterans, women, racially and ethnically diverse unconscious bias training and and made every race, gender, sexual orientation, ability, to increase organic growth and promotions people, and other groups, both in business and inclusive leadership training available to all military status, religion, age, gender identity and within the organization. We have also expanded civic life. For example, in Buffalo, New York, where managers. ethnicity can reach their full potential. As our our Talent Assessment practice to drive more Citi is one of the largest employers, Citi donated • Our LGBTQ+ Reverse Mentoring Program, Talent and DEI strategy continues to evolve, we data-based decision making around talent. $100,000 in 2022 to the United Way of Buffalo started by our Pride network in the Europe, have crystallized our company-wide approach and Erie County to help support the community Middle East and Africa (EMEA) region, around the following pillars: Recognizing and celebrating religious diversity following a racially motivated mass shooting. has garnered more than 600 participants • Promote a Diverse Employer of Choice Brand in the workplace has become an essential part globally since its inception. It has been so by enhancing communications and brand of creating a culture where all colleagues feel Citi was also a proud signatory of the Human successful that its organizers have helped visibility through strategic partnerships empowered to bring their authentic selves Rights Campaign’s letter to the U.S. Senate in clients of the firm introduce their own to work. Citi is a long-standing supporter support of the Respect for Marriage Act (RMA) reverse mentoring programs. • Manage and Develop Talent by recruiting and of the Tanenbaum Center for Interreligious in July 2022. Signed into law in December, the retaining a diverse group of top talent and Understanding, which provides organizations RMA is an important step toward protecting the developing strong next-gen talent pipelines with training, robust consulting support and right to same-sex and interracial marriage in the resources to enable members of different faiths Citi 2022 ESG Report Page 52

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data 2025 Aspirational THE IMPORTANCE OF SELF-ID Representation Core to our data-driven approach 2025 Aspirational Representation Goals Goals is gaining a better understanding of by the Numbers who comprises our workforce and Our diverse workforce continues to reflect obtaining self-ID from our people macro demographic changes in the world, so it is so we can better meet the needs of We believe that everyone belongs in banking. Understanding that diversity fuels our culture and our organization and create a culture business success, we are expanding the representation goals1 we initially set in 2018, so that Citi important that we continue to evolve the way we where everyone can thrive. Through better reflects the communities we serve and is a place where all can thrive. do business. In 2022, we expanded our firm-wide, concerted efforts during 2021’s aspirational diversity representation goals to self-ID campaign, nearly 90%, of our North America UK include additional markets and underrepresented total workforce, across 46 countries, groups. were invited to self-ID their race and 11.5% 11%3% ethnicity, gender identities, sexual U.S. Black Colleagues Asian Black Global We continue our focus on increasing diversity of our orientation, disability status and mili- mid- to senior-level colleagues and early-career tary status, as permissible by local laws 16% 3% 43.5% hires. Having aspirational representation goals and regulations. across levels will help ensure we not only have Hispanic & Latino Brazil Mixed Ethnicity Women Colleagues diverse talent in leadership roles, but will also help In 2022, we expanded the categories Colleagues & Other under our sexual orientation and 1O% Colleagues3 us build a diverse talent pipeline for the future. As gender identity dimensions. Additionally, 2 part of those goals, we are proud of being the first we continued to encourage the Black & Pardo major U.S. bank to set an aspirational recruiting reporting of multiple races/ethnicities Colleagues goal for LGBTQ+ early-career hires globally. for those colleagues who self-identify as such by enabling the selection of CAMPUS RECRUITING To drive accountability and progress, our 2025 specific races/ethnicities. representation goals are embedded in our business Building on these efforts, we are We recognize the importance Global UK North America strategy as well as our executive scorecards. In committed to better understanding the of expanding diversity and 50% 3.5% 25% 30% 4 addition, we undertake ongoing pipeline analyses composition of our colleague popula- intersectionality when to help us assess the availability and flow of diverse recruiting our next generation Women LGBTQ+ Underrepresented Underrepresented tion and implementing competitive and communities5 communities5 talent at Citi and see how we can achieve better effective Talent and DEI programs and of leaders. representation among women and racial/ethnic policies. As we continue to enhance minorities. Intentionality in talent development our Talent and DEI programs, we are is essential if we are to elevate more women and assessing where we have gaps in 1 All representation goals, with the exception of Campus Recruitment goals, seek to increase representation at the Assistant Vice President racial/ethnic minorities to high-level positions at representation in certain regions. With to Managing Director levels. Citi — and across our industry as a whole. more targeted data, we can be even 2 Pardo is an ethnic and skin color category used by the Brazilian Institute of Geography and Statistics in the Brazilian census. The term is more more intentional in cultivating a culture commonly used to refer to Brazilians of mixed ethnic ancestry. 3 The “mixed ethnicity” category has been used by the UK’s Office for National Statistics since the 1991 census and refers to British citizens or Access our public announcement to learn more of inclusion. residents whose parents are of two or more different races or ethnic backgrounds. “Other” includes Arab and any other ethnic group and is a about our 2025 goals and how we developed them. We encourage all colleagues to self-ID defined classification by the UK’s Office for National Statistics. 4 Intersectionality refers to the ways that race, ethnicity, gender, sexual orientation and other traits can overlap to create unique dynamics, and will prioritize increasing participation. including distinct obstacles in the workplace. 5 “Underrepresented Communities” in the UK consist of those who are Black, Asian and Minority Ethnic (mixed/multiple ethnicities and other ethnic groups) and refers to those in North America who identify as Black or Hispanic/Latino. Citi 2022 ESG Report Page 54

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data Diversity at the Top: Senior Leader Representation 2022 MANAGING DIRECTOR CLASS ABOUT OUR NEW 2022 MANAGING DIRECTORS Citi promotes a new class of Managing Directors (MDs) each year. This Summary by geography is the highest officer level at Citi and is a testament to these individuals’ performance and commitment to living our Leadership Principles — North America Latin America U.S. Taking Ownership, Delivering With Pride and Succeeding Together — and instilling them in their teams and throughout the entire firm. For our 174 52.6% 23 6.9% 2022 class, we promoted 331 MDs, who are based in 26 countries and 64 37.2% represent one of the largest and most diverse cohorts in recent years. Europe, Middle East And Africa Asia Pacific * of the new MD class was racially/ethnically diverse (out of the 172 promoted in the U.S.) EXECUTIVE MANAGEMENT TEAM AND BOARD OF DIRECTORS 91 27.5% 43 13% Our leadership drives a culture of excellence and accountability, demonstrating gender equity from the very top of the organization. 26 COUNTRIES IN 2022 Asian Black Hispanic/Latino Jane Fraser is our first woman CEO and was the first woman to lead a 21.5% 4.1% 12.8% major U.S. bank. As of April 24, 2023, based on self-identification data, 37 Colleagues 7 Colleagues 22 Colleagues four (25%) of our 16-person Executive Management Team are women and six (37.5%) are racially/ethnically diverse. Also, seven (54%) of the Summary by year *Some MDs identify with more than one ethnic/racial group 13 members of our Board of Directors are women and 1 (8%) identifies as Largest class in recent years a racial/ethnic minority. Citi was among the first Fortune 500 companies to achieve gender parity on its Board. 306 in 2021 5 5 TITI COLE MAKES HISTORY AS FIRST BLACK WOMAN 241 in 2020 LGBTQ+ Veterans ON THE EXECUTIVE MANAGEMENT TEAM AT CITI 220 in 2019 331 4 In early 2022, Titi Cole was appointed CEO of our new Legacy Franchises 198 in 2018 Promotions People with operating segment and, in doing so, became the first Black woman to be in 2022 disabilities part of the Executive Management Team. 178 in 2017 Cole is a 30-year veteran of the financial services industry and has served in leadership positions at other major banks. She joined Citi in 2020 and previously served as the Head of Global Operations and Fraud Prevention THE MOST 106 in 2021 and the Chief Client Officer for Personal Banking and Wealth Management WOMEN 110 70 in 2020 49 in 2018 33.2% (PBWM). She is a strong advocate for Diversity, Equity & Inclusion across PROMOTED 49 in 2017 the firm and led initiatives across PBWM to increase representation of in recent years in 2022 62 in 2019 of the total MDs promoted women and underrepresented groups. The diversity data reflected in this document is based on the information we have on file from colleagues who self-identified for a particular diversity group. Thus, full representation of diversity might not be reflected. Citi 2022 ESG Report Page 55

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data We invest in training college and high school • Our Sophomore Leadership Program offers 44 Global Wealth Management analysts students through our early engagement and hands-on work experience, mentorship, participated over two months. Representation in Our Analyst apprenticeships programs. While we would peer networking and necessary skills over • Through Progress Builders, we provide and Associate Programs like the students to consider the possibility of a 10-week summer internship, to provide a Costa Rican high school students from a future with Citi, our primary goal is to provide pipeline into our full-time analyst programs. technical backgrounds with meaningful work them with helpful tools on their path to • Our recruitment event on Martha’s Vineyard experiences to complement their academic professional success, without regard for in Massachusetts provides Black high school learning. We had 15 Progress Builders interns 52% 52% industry or profession. and college students with an opportunity in 2022, 60% of them women. Key programs include: to network with industry professionals • Our Women RISE at Citi event in Brazil and learn about potential career paths in provided women students with exposure 2021 2021 • Our Citi University Partnerships in financial services. Innovation & Discovery (CUPID) Program to various career opportunities in finance, enables us to accelerate innovation initia- • Apprenticeship Programs enable us to education on business areas at Citi and tives across Citi by engaging high-potential access a new pipeline of diverse talent, participation in a hackathon to strengthen 50% 52% students and developing a robust, diverse particularly those with varying levels of prior their problem-solving and technical skills. pipeline of talent from universities across the experience, from different backgrounds • The Citi Campus Disability Summit, for globe. In 2022, the CUPID Program engaged and with alternative perspectives. In students with disabilities, debuted in 2022 2022 400-plus students through specialized London, an 18-month structured program of learning, combined with a real role at Citi, April 2022. Representation of Representation of engagements including hackathons, capstone women in full-time women in the summer projects and more. is designed for individuals who have not We continue to partner with Management analyst and associate analyst and associate been to university, but instead are hoping to Leadership for Tomorrow (MLT), SEO and roles programs • Our Early Insights Programs for college kick-start their careers with an opportunity WayUp, U.S.-based recruiting platforms that students in their first and second year of to gain work experience alongside profes- attract diverse students, enabling our recruiters undergraduate studies are focused on identi- sional qualifications. Our first cohort has to communicate and engage with students to fying, mentoring and hiring top diverse talent successfully completed the program and promote job opportunities. 29% 32% for summer analyst programs across the moved into permanent roles at Citi. So far, firm. These programs provide early exposure 21 apprentices have been hired through this to, and education around, our businesses, program in London. 2021 2021 technical training, mentorship and culture. • Youth Co:Lab, APAC’s largest youth-led social • Our Freshman Discovery Day is an intro- entrepreneurship movement, provides an ductory program to support freshmen from opportunity for our analysts to help advance 32% 29% diverse backgrounds in gaining technical the UN Development Program goals. Since skills and learning about various roles in 2021, Citi has partnered with the UN to have financial services. ~150 Consumer and Operations analysts 2022 2022 • Our Early Identification Program focuses across 12 APAC markets work in small teams on mentorship, interview preparation and to support young entrepreneurs from devel- Black and Hispanic/ Black and Hispanic/ oping countries in refining their startups’ Latino representation Latino representation in best-in-class training to identify diverse in full-time analyst the summer analyst and talent for our summer analyst programs over mission, vision, impact and strategy for and associate roles associate programs a five-week period. unlocking funding and resources. In 2022, Citi 2022 ESG Report Page 57

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data Voice of the Employee 2022 SURVEY HIGHLIGHTS Our annual Voice of the Employee (VOE) survey provides valuable insights regarding colleague engagement and perceptions about our 90% 90% firm — our pain points as well as our successes. In 2022, we worked In my team, when a group My manager promotes with the Digital Accessibility Center for Excellence to ensure the decision is made, we all commit diversity, equity & inclusion VOE’s accessibility for all colleagues. and proceed as decided in our team Participation in this latest VOE matched our all-time high of 88%, with results remaining strong in key areas. Ethics continues to be our signature strength, with results showing that 90% of colleagues feel comfortable reporting unethical practices without fear of reprisal. Our leadership principles also continue to shine, with 90% 88% 90% 88% of colleagues believing we deliver excellence for our clients. We Take We Deliver We Succeed Ownership With Pride Together Other areas where we are excelling: 87% 92% Core Indices* agree that mangers make it of colleagues feel more easier to collaborate across empowered to deliver on teams and businesses their team’s goals 86% 80% 93% 88% Diversity, Equity Engagement Ethics Manager Feedback from Citi colleagues is critical to our strategy, and our & Inclusion Effectiveness efforts to simplify the firm are a work in progress. We continue to streamline processes and decision-making to make Citi an easier place to work. To ease intense workloads, we are filling roles in key 2021 80% 2021 91% parts of the business and making sure colleagues know where to 2020 82% 2020 91% go for support when needed. Note: Data based on favorability/agreement rates from eligible Citi colleagues. * Due to updates introduced in 2022, trend data is not available for the DEI and Manager Effectiveness indices. Citi 2022 ESG Report Page 60

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data Global Workforce Data 59,887 36,786 74,481 Total Total Total Total Employee Headcount 237,659 239,903 Full-Time 2,244 New Employee Hires Employee Turnover Employees by Gender Total Employees Part-Time in the U.S. ** 58,878 1,009 35,852 934 Full-Time Part-Time Full-Time Part-Time 38,785 35,681 Women Men Total Employees by Physical Region*** 36,343 77,290 Europe, Middle East and Africa North America 8,421 4,768 20,495 11,575 Hires Turnover Employees Hires Turnover by Gender* 120,079 51,390 74,880 239,903 Women Total Employees Latin America Asia Pacific 119,779 Men 10,205 7,287 20,766 13,156 Hires Turnover Hires Turnover * 45 employees did not disclose. ** 15 employees did not disclose. *** Data provided is based on physical geography. For a regional breakdown of our managed geography, please review our Annual Report. Citi 2022 ESG Report Page 61

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data Racial/Ethnic Composition of U.S. Employees 162 14,513 8,598 Total Total Total 74,481* Total employees American Indian Asian Black or African or Alaskan Native 6,412 8,101 American 94 68 5,437 3,161 Women Men** 38,785 35,681 14,032 136 1,400 33,913 Total Total Total Total Hispanic or Latino*** Native Hawaiian Two or More Races** White 8,031 6,000 or Pacific Islander 750 649 17,265 16,648 85 51 * 1,727 people did not disclose race/ethnicity; 15 did not disclose gender. ** Figures shown in black represent the number of colleagues who have identified as women. Figures shown in blue represent the number of colleagues who have identified as men. *** 1 person identified as Hispanic or Latino but did not disclose gender, and 1 person identified as Two or More Races but did not disclose gender. Citi 2022 ESG Report Page 62

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data Citi 2022 Consolidated U.S. Employer Information Report (EEO-1) TABLE A Advocacy Statement and Multiple Identity Breakdowns: While certain regulatory reports such as our EEO-1 filings will continue to require that each Citi colleague be designated as shown in Table A, our internal tracking has evolved to appropriately capture the reality of who our people are, as detailed on the following page in Table B. Job Categories Gender Hispanic White Black or African Native Asian American Multi-Racial Total or Latino American Hawaiian or Pacific Indian or Islander Alaskan Native Executive/Senior Officials Male 5 40 3 1 10 0 1 60 and Managers Female 4 28 6 0 4 0 1 43 Subtotal 9 68 9 1 14 0 2 103 First/Mid Officials Male 1,056 4,549 436 10 2,277 22 71 8,421 and Managers Female 958 3,261 543 9 1,086 13 72 5,942 Subtotal 2,014 7,810 979 19 3,363 35 143 14,363 Professionals Male 2,303 7,523 1,657 26 4,831 32 219 16,591 Female 2,355 6,361 1,960 31 3,616 22 221 14,566 Subtotal 4,658 13,884 3,617 57 8,447 54 440 31,157 Technicians Male 43 46 22 0 9 0 2 122 Female 23 59 7 0 13 0 2 104 Subtotal 66 105 29 0 22 0 4 226 Sales Workers Male 1,280 2,592 325 11 844 5 76 5,133 Female 1,329 1,245 344 16 1,138 9 53 4,134 Subtotal 2,609 3,837 669 27 1,982 14 129 9,267 Administrative Support Workers Male 1,427 2,866 809 16 327 22 102 5,569 Female 3,585 7,076 2,845 39 750 58 277 14,630 Subtotal 5,012 9,942 3,654 55 1,077 80 379 20,199 Craft Workers Male 1 5 0 0 0 0 0 6 Female 0 0 0 0 0 0 0 0 Subtotal 1 5 0 0 0 0 0 6 Operatives Male 0 4 0 0 0 0 0 4 Female 0 3 0 0 0 0 0 3 Subtotal 0 7 0 0 0 0 0 7 Laborers and Helpers Male 0 0 0 0 0 0 0 0 Female 0 0 0 0 0 0 0 0 Subtotal 0 0 0 0 0 0 0 0 Service Workers Male 2 0 1 0 0 0 0 3 Female 0 0 1 0 0 0 0 1 Subtotal 2 0 2 0 0 0 0 4 Total Male 6,117 17,625 3,253 64 8,298 81 471 35,909 Female 8,254 18,033 5,706 95 6,607 102 626 39,423 Subtotal 14,371 35,658 8,959 159 14,905 183 1,097 75,332 Citi 2022 ESG Report Page 63

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Our People Strategy How We Work Our Talent and DEI Strategy Global Workforce Data MMUULLTITIPPLLE IE IDDEENTINTITTY BY BRREEAKDOAKDOWWNNSS TABLE B Race/Ethnicity Total Hispanic Only Selected White Black or African Native Asian American or Latino Hispanic/Latino American Hawaiian or Indian or Pacific Islander Alaskan Native Hispanic or Latino 14,371 3,040 7,548 795 98 204 404 Race/Ethnicity Total Two or Hispanic White and Other Black or African Native Asian and Other American More Races or Latino in Race(s) American and Hawaiian or Race(s) Indian or Combination Other Race(s) Pacific Islander Alaskan Native with Other and Other and Other Race(s) Race(s) Race(s) Multi-Racial (or two or more races)* 1,097 11,331 836 484 86 449 231 Note: The sum totals do not represent the total sum of employees, because not all individuals elected to self-identify. * Of the 1,097 employees identified as belonging to two or more ethnicities/races, none identified as being Latinx; separately, 11,331 employees identified as being Hispanic/Latinx and having multiple ethnicities/races. Citi 2022 ESG Report Page 64

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing We expect managers to lead by example, inspire Ethics their employees to live our values, and create OUR LEADERSHIP PRINCIPLES a work environment that is free from discrimi- nation, harassment or retaliation. Managers are These principles support our Transformation to become a better, stronger bank. Holding ourselves and and Culture expected to promote awareness of resources each other to these high standards is integral to our culture and our commitment to operating in our available for reporting concerns, encourage clients’ best interests, driving economic value and managing risk. at Citi employees to speak up about all issues, and We take ownership: Challenging each other to high standards and welcoming that challenge; greeting then resolve or escalate concerns through change with optimism, curiosity and resilience; speaking with candor; learning from experience; and appropriate channels. Managers must never contributing to and honoring group decisions Each of our employees shares a common engage in, nor tolerate, retaliation of any kind. We deliver with pride: Striving for excellence across our business; simplifying, standardizing and responsibility to earn and maintain our clients’ clarifying our work; holding ourselves and others accountable for managing risk; fixing root causes of trust by applying our values and principles Acting with Integrity problems; and taking pride in doing the right thing every day to everything they do. We expect our We succeed together: Valuing and learning from different perspectives; breaking down barriers; employees to prioritize excellence — for our We empower our employees to do what’s right measuring performance through a stakeholder lens; investing in colleagues from all backgrounds; clients, in our operations and in our risk and by setting clear expectations, providing tools and showing empathy for our colleagues, clients and communities controls environment — and to provide our and educational resources to reinforce ethical products, services and expertise in a system- decision-making, and consistently providing dealing with clients, business colleagues, share- services for Citi at their time of onboarding. ically responsible manner, while complying information about the various resources holders, communities and each other. It also In addition, we ask these members of our with all applicable laws, regulations and Citi available to escalate concerns. provides an overview of key legal and regulatory workforce to reaffirm their commitment to our policies. To reinforce this, we establish and requirements and select global policies. Code through annual Code of Conduct training. communicate our core values and principles through our Mission and Value Proposition, our Our Code of Conduct, published in 21 languages, Escalating Concerns Leadership Principles, our Code of Conduct, We Ask Our Colleagues Globally to applies to all directors, officers and employees of various training and development opportunities, Ensure That Their Decisions Pass Citi worldwide. Upon joining Citi, employees must Our Code of Conduct emphasizes the principle employee engagement initiatives and communi- Three Tests: acknowledge that they have read and will comply that, when in doubt, employees should cations from our senior leaders. with our Code. Individuals performing services for always err on the side of escalating concerns. • They are in our clients’ interests. Citi may also be subject to our Code by contract Employees are encouraged to raise concerns to • They create economic value. or agreement. Violations can result in disci- their manager, but if they feel uncomfortable Tone from the Top plinary action up to and including termination doing so, Citi provides a number of escalation • They are always systemically responsible. resources, including the Ethics Hotline. We uphold strong ethical standards through our These three tests help our colleagues to act of employment or other relationship with Citi. governance framework, programs and efforts with integrity, to do everything possible to Our Code provides an overview of the types of The Ethics Hotline provides different channels that embed our expectations for behavior create the best outcomes for our clients, and misconduct and concerns that require escalation for employees and any third party, including throughout the organization. This starts with to manage risk prudently. and the resources available to employees for members of the general public, to report our Board of Directors. With oversight from the prompt escalation of concerns, as well as a link to concerns about unethical behavior to our Ethics Compensation, Performance Management and the full Citi Escalation Policy, which provides even Office. In addition to internal and public-facing Culture Committee, our senior leaders reinforce more information for employees about escalation websites that facilitate submission of concerns, appropriate conduct and accountability within Code of Conduct requirements and resources. a telephone line is available 24 hours a day, the organization, and empower our employees Our Code of Conduct outlines the standards seven days a week, with live operators who can of ethics and professional behavior expected We provide Code of Conduct training to new connect to translators in multiple languages. to make ethical decisions, escalate issues and hires globally when they join Citi, as well as to adhere to our standards of conduct. of employees and representatives of Citi when In 2022, Citi enhanced the phone and web nonemployee contingent workers performing Citi 2022 ESG Report Page 66

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing interfaces to provide better guidance for those relationships, referrals to law enforcement reported a violation or were involved in an inves- Our GFCII team works to prevent, identify and submitting concerns and to improve mobile or governmental authorities, employee tigation are subject to disciplinary action, up counteract the many and varied corruption- device accessibility for the web platform. communications, additional training, control to and including termination of employment or related risks that confront the financial sector. enhancements, and changes to Citi policies, other relationship with Citi. Select examples of our partnerships in 2022 All contacts to the Ethics Office and Ethics business processes and procedures. include: Office investigations are treated as confiden- tially as possible, consistent with the need to Citi prohibits any form of retaliation against • United for Wildlife: Citi works with investigate and address the matter and subject anyone who raises a concern or question government agencies and nongovern- to applicable laws and regulations. Concerns regarding ethics, discrimination or harassment Risk mental organizations (NGOs) alongside may be raised either anonymously or with matters, as well as against anyone who partici- other financial institutions to help fight attribution. All concerns are investigated and, pates in a subsequent investigation. Employees Management illegal wildlife trafficking. We participate in where substantiated, lead to meaningful action who engage in retaliation against a colleague the financial taskforce as well as regional within our organization, which could include because they raised a concern or question, chapters in East Africa; the Middle East and disciplinary action, termination of vendor asked for a reasonable accommodation, North Africa; North America; and Hong Kong. We employ robust policies and practices In 2022, we worked through the Hong Kong to detect and prevent corruption, address chapter in support of legislation that elevates potential environmental and social risks in our wildlife-related trafficking to a serious crime portfolio, and safeguard data and customer and helped develop a financial sector toolkit Assessing Our Culture of Ethics Transparency for Employees privacy. These rigorous practices enable us to and threat profile for the region. grow a successful, respected business that Hearing from employees is one important way we Annual Ethics Hotline Summary delivers the best possible results for our clients, • Trust in Business Initiative: In 2022, Citi assess the strength of ethics and accountability To reinforce how raising concerns leads to customers and communities. joined global leaders from the private across our company. As part of our annual Voice meaningful action within Citi, the Citi Ethics and public sectors to discuss and provide of the Employee survey, we include an Ethics Office annually provides all employees with feedback on the Organisation for Economic Index to gather feedback from employees about a summary of the types of concerns received by Managing Co-operation and Development’s (OECD) the following items: the Citi Ethics Office, including those resulting Infrastructure Anti-Corruption Toolbox, • Comfort with reporting unethical practices in corrective actions. Corruption and which is designed to build trust and account- without fear of reprisal Spotlight on Ethics Tax-Related Risks ability in infrastructure. • A feeling of accountability to identify and Through this quarterly communication to • Additional activities: During the year, we escalate issues employees, we continue to share the results Anti-Corruption Activities engaged multiple nonprofits and NGOs • Confidence that Citi will act upon reported legal of Ethics Office investigations, to reinforce to to combat financial crime, including the or ethical violations our workforce that concerns are investigated The Citi Global Financial Crimes Compliance Polaris Project, Survivor Inclusion Initiative, • A belief that colleagues act with integrity and to highlight commonplace areas where Team includes the Global Financial Crimes DeliverFund, the International Centre for ethical lapses can occur. The Spotlight includes Investigations and Intelligence (GFCII), Missing & Exploited Children’s Financial • Manager encouragement of ethical conduct corrective actions that resulted from described Anti-Bribery and Corruption, Anti-Money even in the face of pressure Ethics Office investigations to again reinforce Laundering (AML) and Sanctions teams. Our Coalition Against Child Sexual Exploitation, that speaking up leads to meaningful action. Chief Compliance Officer, who reports directly the Royal United Services Institute’s Future of In 2022, 93% of our employees responded posi- Financial Intelligence Sharing program and the tively to the index, compared with 91% in 2021. to our General Counsel, provides regular United Nations Office on Drugs and Crime. We will continue to listen to our employees and reports on our performance in these areas, to raise the bar in this area. our Board of Directors or a committee of the Board, as appropriate. Citi 2022 ESG Report Page 67

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Taxation Policies and Standards Programs and Training to Combat Financial Crimes Citi does business in nearly 160 countries and jurisdictions, and maintains strong review and escalation processes that enable us to adhere ANTI-BRIBERY AND CORRUPTION PROGRAM SANCTIONS PROGRAM to high standards of compliance with applicable tax laws. We are a current income taxpayer, Citi has policies, procedures and internal controls to comply with Citi is obligated to comply with applicable sanctions, laws and both within and outside the U.S. Our tax profile anti-bribery laws, and we conduct an annual bribery risk assessment regulations in the countries where we operate and maintains a robust, is consistent with the locations of our business of all global business lines. We provide our staff with anti-bribery risk-based Sanctions Program that applies globally. Our Sanctions operations, and we adhere to OECD standards training annually and supplement it with targeted training and Program includes enterprise-wide controls, reasonably designed regarding substance and transparency. communications as needed. For more information, see the Citi to comply with applicable sanctions laws and regulations and is Anti-Bribery and Corruption Program Statement, which is updated comprised of a diverse team of Compliance professionals stationed We emphasize strong internal controls and at least annually. around the world. transparency with global tax authorities and share information relevant to our tax profile. We ANTI-MONEY LAUNDERING (AML) PROGRAM For more information on our Financial Crimes programs, please see supplement this transparency with additional our Code of Conduct. country-by-country reporting, which is required Our AML Program helps protect our clients, our franchise and the under the OECD’s action plan to address base global financial system from the risks of money laundering and 1 terrorist financing. The global program consists of designated erosion and profit shifting. Tax management is AML Country Officers covering every Citi business, function and overseen by our Chief Tax Officer, who reports to geographic area. These specialists partner with various functions, the Chief Financial Officer. It is reviewed with the including Compliance, Audit, Technology and our institutional and Audit Committee of the Board of Directors. consumer businesses, to provide effective enterprise AML risk Number of Employees and Contingent Workers For client-related tax matters, Citi maintains a management and to meet our AML-related requirements at both Who Completed Our 2022 Financial Crimes strong system of controls to support reporting the global and the local levels. For more information, visit our AML * and withholding requirements. We have systems Program website. Compliance Training (by Region) and processes to comply with the Foreign Account Tax Compliance Act and the Common Reporting GLOBAL FINANCIAL CRIMES INVESTIGATIONS 71,667 28,957 Standard in all applicable countries where local AND INTELLIGENCE (GFCII) implementing guidance has been issued. Similarly, North America Europe, Middle East we have firm-wide requirements applicable to GFCII, a part of our Compliance function, provides a globally consistent and Africa customer transactions, under which Citi will approach to the prevention and detection of risk. GFCII works with 45,056 only engage in transactions where there is a high law enforcement, nonprofits and internal stakeholders to proactively 69,185 degree of confidence that the tax aspects will be identify illicit activity and work to mitigate risk. This connectivity Latin America accepted by the respective taxing authorities. results in the execution of a data-driven global strategy addressing Asia Pacific emerging risk trends and typologies across business lines and For more information on how taxation impacts geographies. Citi, see page 185 of our 2022 Form 10-K. * This combined online training incorporates multiple anti-corruption efforts, including AML, sanctions and anti-bribery training. Numbers include all Citi staff who had completed the 2022 training as of December 2022. (Employees and contingent workers generally have 30 days to complete it.) 1 Citibank Europe Plc, Country by Country Reporting YE 2021, https://www. citigroup.com/rcs/citigpa/akpublic/storage/public/CEP_2021_CRD_ Article89.pdf Citi 2022 ESG Report Page 68

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Public Policy Safeguarding Data Our Global Privacy Program is overseen by a Protecting Digital Identity dedicated global Chief Privacy Officer. The Verifying our customers’ identity is funda- The potential impact of public policy on and Protecting program provides a framework for managing mental to safeguarding their financial assets our business, employees, communities and privacy and confidentiality risks for the and protecting their privacy. Our aim is to customers is why Citi works to advance and Customer company. Our privacy management efforts deliver solutions that provide seamless, protect the global business interests of our Information receive additional oversight from the Citi intuitive interactions with digital tools that will company directly and indirectly, through Privacy Advisory Council, which consists of not compromise personal data. We provide engagement with trade associations, govern- As digital solutions expand and become executive privacy officers and privacy and risk ongoing training for our employees through ments and elected officials around the world. more integrated into our daily lives, we see management leaders from across the firm. The digital identity learning packs that help build Citi advocates for public policies that support increasing concerns related to privacy and Council provides direction, addresses escalated awareness of, and skills related to, new digital the interests of our company, clients, share- security breaches. Data security and customer concerns and helps drive progress in this area. identity technologies. In addition, we engage holders and employees, such as trade and privacy are top priorities for Citi and for our Citi has also appointed a Global Chief Privacy with clients, partners and industry experts to investment proposals involving sanctions stakeholders. Counsel within the General Counsel’s Office. discuss the trends, challenges and opportu- and cybersecurity. Guided by our Political The Global Chief Privacy Counsel leads a global nities related to digital identity and to explore Engagement Statement, company political Cybersecurity team that provides legal guidance and strategic technologies that have the potential to meet our activities are performed in compliance with Our Chief Information Security Office ensures direction regarding privacy and data protection customers’ needs. applicable laws and regulations. that an appropriate level of cybersecurity gover- laws to the Chief Privacy Office and to nance, capabilities and controls are in place to businesses and functions across the enterprise. We also provide customers with resources and Under U.S. Federal Election Commission rules, protect Citi’s and our clients’ assets and infor- information related to safety and security. Our Citi’s Political Action Committee (Citi PAC) mation, with end-to-end accountability across Our Privacy and Bank Customer Confidentiality U.S. online Security Center enables customers pools the voluntary contributions of eligible the firm. Our strategy incorporates architecture, Policy articulates principles relating to the to learn about what Citi does to protect them employees to support U.S. political candidates technology, tools, policies and processes to collection and processing of personal infor- and what they can do to protect themselves and campaigns that support the financial prevent, detect, respond to and recover from mation, requiring, in part, that personal against identity theft and other security risks. industry and complementary pro-business cyber threats quickly. Learn more about the information only be collected and used as policies. Our bipartisan Government Affairs elements of our cybersecurity program on the necessary for the performance of the services Emerging Financial Technologies team and the Citi PAC Board consider whether following page. offered and for the purposes disclosed. Citi We monitor developments and innovations contributions meet our criteria. is transparent about personal information related to financial technology and digital Privacy collection and use practices, and offers assets amid sustained interest from clients and The fair, ethical and lawful collection, use and customers choices about how their personal investors. We carefully evaluate the evolving processing of customers’ personal information information may be collected or used (as regulatory landscape and associated financial is essential to build trust, provide best-in-class required by law), including choices relating to and non-financial risks to ensure we meet services and achieve our corporate objectives. marketing or reviewing and correcting infor- both our own regulatory frameworks and super- mation. Citi employees are required to take visory expectations. annual privacy compliance training that covers these privacy concepts. Citi 2022 ESG Report Page 69

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Environmental The Risk Management Committee of our Board of Directors provides oversight in the area of climate ESRM Policy at a Glance and Social Risk risk and reviews and approves key risk policies, including those focused on environmental and Management social risk. Environmental and Social Policy Our ESRM Sector Approaches apply Framework: The ESRM Policy is sector-specific review requirements for Our ESRM Policy summarized publicly in our Environmental certain clients in sensitive sectors and Social Policy Framework, which Our ESRM Policy guides our approach to engaging ESRM TRAINING includes the following: • Agribusiness • Military Equipment with clients to help us responsibly mitigate • Scope of our ESRM Policy • Coal Mining • Mining environmental and social risks in our financing. We offer three web-based training modules We established the Policy in 2003, and we for employees globally to raise awareness on • Transaction types that trigger a review • Coal-Fired Power • Oil and Gas continue to evolve our approach in response to the scope of our ESRM Policy, with additional • Detail about risk-screening practices • Firearms emerging risks. For example, in 2022, we updated training on use of proceeds transaction and categories, independent reviews and our ESRM Policy to outline our expectations in requirements and ESRM Sector-Specific action plans the Agribusiness sector in sensitive ecoregions requirements. In addition, we offer custom- • Overviews of our Areas of High Caution, (see following page). ized virtual or in-person trainings covering sector-specific approaches and policy Our ESRM Policy also includes a number of topics such as environmental and social prohibitions prohibitions for environmental and social The ESRM Policy covers a broad scope of financial risks relevant to certain regions and sectors, risks of highest concern, such as projects products and client sectors and guides how we implementation of the Equator Principles and using forced labor or harmful child labor. our Sector-Specific requirements, as well Refer to the ESRM section of our Environ- assess client impacts and associated risks related as specific topics such as human rights and ESRM Policy scope: A transaction or client to air quality, water quality, climate change, biodi- mental and Social Policy Framework for biodiversity. relationship may trigger the ESRM Policy for more information. versity, local communities, labor, human rights three reasons: and other environmental and social issues. Our policies and procedures reference international 1 Transactions with use of proceeds If a transaction impacts any of the industry standards, such as the International Policy Implementation directed to a specific physical asset or following Areas of High Caution, Finance Corporation’s Environmental and Social Our centralized ESRM team, part of the Risk project ESRM will conduct enhanced due Performance Standards; the World Bank Group’s Management function, evaluates transactions Clients in sectors considered diligence: Environmental, Health, and Safety Guidelines; 2 that trigger review under our ESRM Policy. Because particularly high-risk by Citi • Conflict risk the Roundtable on Sustainable Palm Oil; and the the Policy is applicable broadly throughout our Clients/transactions with impacts Forest Stewardship Council. financing activities, we engage across the firm 3 • Indigenous rights to an Area of High Caution • Critical habitat and cultural Under our ESRM Policy, Citi screens for environ- with colleagues in banking, credit risk, climate risk, heritage mental and social risks in project-related risk and controls, and regulatory teams, among The ESRM team reviews transactions subject others, to share ESRM subject matter knowledge to policy and benchmarks against relevant • Human rights, including environ- transactions and clients subject to ESRM and learn from internal expertise. We provide industry standards and best practice, mental justice sector-specific requirements. In addition, the ESRM training to key risk and banking personnel identifying opportunities for improvement • Involuntary resettlement Policy includes Areas of High Caution, which globally, to help them identify potential risks and and engagement. identify flags for heightened risk factors to opportunities to engage with our ESRM specialist escalate to the specialized ESRM team for review team more effectively. regardless of financial product or sector. Citi 2022 ESG Report Page 71

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing When the viability of a deal is first explored, our between a client’s environmental and social ESRM team works with Citi bankers to evaluate plans, policies or practices and the expecta- the magnitude of the potential environmental tions outlined in our ESRM Policy, we require the and social impacts associated with the trans- development of an Environmental and Social action and to determine what action, if any, is Action Plan (ESAP) to fill the gaps. As a condition needed to comply with our ESRM Policy prior of financing, we require the client to implement to final approval of the transaction. If, during the ESAP by specifying covenants in the loan our initial screening for a transaction, we find a agreement, and we monitor its progress over risk of adverse impacts, we conduct enhanced time, often using an independent consultant to due diligence, and we evaluate the client’s conduct on-the-ground audits and report back commitment and capacity to avoid, mitigate to lenders. SECTOR APPROACH FOR AGRIBUSINESS and/or manage those impacts in accordance with international industry best practices and These loan covenants are binding require- For several years, Citi has been monitoring and The Agribusiness Sector Approach also includes the client’s willingness to improve. ments, which include commitments to comply analyzing risks associated with the Agribusi- our previous Sector Approaches for Forestry and with laws and regulations as well as specific ness sector (including deforestation, decreased Palm Oil, which we updated to include down- Our project-related financing aligns with the actions outlined in the ESAP. If a client is not in climate resilience, biodiversity loss and risks stream processors, refiners and traders in the Equator Principles, including the incorporation of compliance with the environmental and social to the rights of Indigenous Peoples), as well as palm oil industry. We review our forestry and relevant assessments, covenants and monitoring. covenants, Citi will work with the client on increasing our due diligence in this area and palm oil clients annually to confirm their ongoing Higher-risk, project-related transactions receive remedial actions to come back into compliance. engaging with stakeholders regarding their management practices, including management in-depth reviews by independent environmental See the appendix of our Environmental and concerns. We updated our ESRM Policy in 2022 systems consistent with the principles of No and social consultants to benchmark against Social Policy Framework for more information after conducting a portfolio review of our agri- Deforestation, No Peat and No Exploitation. We international standards. If gaps are found about the steps in our risk-screening process for business clients with a focus on the impact of also evaluate our palm oil clients’ identification deforestation in sensitive ecoregions and related and preservation of high-conservation areas reputation risk. (including peatlands and high-carbon-stock Our recently established Agribusiness Sector forests) and implementation of best practices for Escalation of High-Risk Transactions and Clients Approach includes new requirements for the fire prevention. Soy sector (including producers, processors Our ESRM Policy approach to the Agribusiness The first step in ESRM analysis of a transaction is and risk managers for collective discussion on the and traders) and Beef sector (including cattle sector refers to relevant independent certifica- to evaluate the level of risk related to the specific risks and the client’s commitment and capacity ranchers, slaughterhouses and processing tions, such as the Forest Stewardship Council, project or client activity. If the environmental to manage and mitigate those risks. Citi may facilities) in sensitive ecoregions. As a part of this the Roundtable on Sustainable Palm Oil and the and/or social risks and the likelihood for adverse decline to move forward with a transaction after ESRM Policy update, we will review beef clients Round Table on Responsible Soy, that emphasize impacts is too great and the client does not have escalated consideration, or we may decide that that are producing in or sourcing from sensitive practices to reduce deforestation. appropriate policies and practices to avoid or we can move forward subject to certain explicit ecoregions, to confirm they have policies and This updated standard will help us more effectively mitigate potential impacts in line with ESRM conditions for the client to meet in order to management plans that demonstrate commit- identify biodiversity risks and avoid deforestation Policy requirements, the ESRM team can decline manage those risks appropriately. ment to 100% traceability of their supply chain risks, as well as mitigating associated risks related involvement in the transaction at initial review. In severe circumstances, where risks arise in in these sensitive regions, with consideration of to climate and to Indigenous Peoples. In more nuanced cases with high environmental existing client relationships to an unacceptable international norms and industry best practices. or social risks but also a number of potentially level and cannot be mitigated, we may end the Soy clients producing in or sourcing from sensitive compensating and mitigating factors, the ESRM client relationship. ecoregions will be evaluated against the Round team escalates the transaction to senior business Table on Responsible Soy requirements. Citi 2022 ESG Report Page 72

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing project-related finance transactions, from initial identification of business opportunities through ADDRESSING POTENTIAL ongoing monitoring and supervision. ENVIRONMENTAL AND In addition, for non-project related transac- SOCIAL RISKS RELATED TO A tions where risks have been flagged for ongoing HYDROPOWER PROJECT monitoring, our ESRM team uses annual client credit reviews as touchpoints to assess progress Hydropower can support climate change on environmental and social issues. reduction goals. However, the development of new hydropower infrastructure can also Applying our ESRM Policy helps us to identify have environmental and social risks. In 2022, risks beyond traditional credit risks, guides how Citi helped finance a new hydropower trans- we evaluate transactions related to companies mission line in North America. We undertook comprehensive ESRM reviews as part of our or projects in high-risk sectors and presents financing decision process. opportunities for us to engage with clients on industry good practice used across their sector. Our role: Citi is one bank in a larger syndi- Biodiversity Loss: A Growing Risk cate providing funding for this project. Over the last few years, we have seen a rapid Climate and biodiversity are deeply interconnected, and there is an increasing awareness that climate Environmental and social concerns: Risk change, along with other human-caused stresses on natural systems, is contributing to biodiversity increase in the volume and variety of transac- management issues included biodiversity loss and ongoing extinction events. tions flagged for ESRM review. This is due to a concerns, preservation of watersheds and variety of factors, including increased interest waterways and impacts on Indigenous We remain committed to expanding our understanding of the dynamics between climate and biodi- from regulators on ESRM-related issues, the Peoples. versity and, to that end, engaged in the early development process for the Taskforce on Nature-related growth in ESG-related financial products Financial Disclosures (TNFD) as a member of the initial Informal Working Group. We now serve as a Due Diligence: The banking syndicate fully member of the TNFD Forum. and greater engagement across the firm as applied the Equator Principles (EP) process, employees receive additional training and including engaging a consultant to complete become more aware of the potential environ- independent environmental and social due mental and social risks in the transactions they diligence, including an EP climate change are managing. The ESRM team partners with risk assessment for the transmission line Analysis of Current and Proactive monitoring helps us identify issues internal colleagues across the firm to respond and a human rights impact assessment for Emerging Risks and the interrelated impacts of various sectors, to the increasing attention and concern related affected Indigenous Peoples, as well as an so we can be responsive to evolving risks, raise ESAP to detail additional actions needed to The ESRM team uses a number of methods to awareness within Citi about emerging issues to environmental and social issues. mitigate impacts over the life of the loan. proactively scan the evolving risk landscape for new, emerging risks, as well as risks with and identify clients that may be impacted Risk mitigation: Examples of ESAP items increased prominence and prevalence. Through for further engagement. For example, we include requirements for the project sponsor internal research, collaboration with others in are tracking emerging risks associated with to protect marine fauna habitat and estab- increased mining of metals and minerals lish a fund for biodiversity restoration. our industry and the use of third-party environ- needed for electrification, which is important mental and social data, we monitor relevant in facilitating the low-carbon transition. While developments in high-risk industries and stake- increasing the availability of these “transition holder concerns to flag emerging issues. minerals” is important, it can be associated with Citi 2022 ESG Report Page 73

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Our Environmental and Social Risk Management Human (ESRM) Policy guides our approach to assessing environmental and social risks related to Rights financing our clients’ business activities. Learn more about our commitment to human rights and our approach to human rights protections: • Citi Statement on Human Rights Our Commitment • Environmental and Social Risk Management to Respect Human section • Environmental and Social Policy Framework Rights • UN Guiding Principles Reporting Framework Index We are committed to respecting human rights wherever we do business. We engage with a Our Salient Human Rights Risks range of stakeholders, such as employees, clients, suppliers, peers, as well as human rights Citi has spent more than a decade seeking experts, civil society organizations and investors, to understand and mitigate the most salient to support our efforts to respect human rights in human rights risks related to our business, line with the UN Guiding Principles on Business including the activities of our clients and other EMPLOYEE TRAINING and Human Rights — a global framework for business partners. Human rights content is integrated into the training developed in cooperation with the UK preventing and addressing the risk of adverse The most severe potential human rights risks training we provide for the employees responsible Anti-Slavery Commissioner for specific use with impacts on human rights linked to business posed by our clients’ activities, particularly for implementing our ESRM Policy and in our our UK employees, given the Modern Slavery Act activity. The UN Guiding Principles draw upon in the context of project-related finance, are Code of Conduct training, which is required of all legislation in that country. This training focuses on existing international human rights instru- employees. We also provide employees who are the role of financial services in eradicating modern ments whose principles Citi has endorsed, identified under our ESRM Policy. Although responsible for procurement and supply chain slavery and the processes and controls Citi has in such as those in the UN Universal Declaration project finance gives us the most insight activities with a comprehensive training module place to identify related risks. We made this training of Human Rights and the International Labour into specific project details and ability to use on modern slavery. available to all employees in the UK in early 2023. Organization’s (ILO) Core Conventions. environmental and social loan covenants, In 2022, we began developing global training to We also provided the Boards of Directors of two we also screen for human rights risks and help us standardize risk screening related to human primary UK subsidiaries (Citigroup Global Markets During the development and subsequent engagement opportunities in other types rights across our banking functions, through Limited and Citigroup UK Limited) with a tutorial updates of our Statement on Human Rights, of corporate financing covered by our ESRM greater understanding of salient human rights risks on human rights and modern slavery. Due to similar we engaged internal and external stakeholders Policy and in targeted ESRM portfolio reviews and information about when to escalate those risks Modern Slavery Act legislation in Australia, Citi of high-risk sectors or geographies. In addition, to our centralized ESRM team. During the year, is working with the same partners to adapt the to help assess our actual and potential human training for employees in that country. rights impacts and to identify the most salient we identify and address salient human rights we also worked with one of our partners to adapt human rights risks faced by our employees, risks that could arise in other areas of our value workers connected to our supply chain and chain, such as our supply chain, our workforce individuals who might be affected by our clients’ and our consumer banking activities. For a full operations. list of our salient human rights risks and the stakeholders they may impact, see the table on the following page. Citi 2022 ESG Report Page 77

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Respecting the principle of nondiscrimination. Learn more We have established policies and practices that about our diversity, equity and inclusion efforts help us consider the respect of human rights. DISCLOSURES RELATED TO Human Rights of for employees in the Talent and Diversity, Equity For example, our anti-money laundering policies MODERN SLAVERY & Inclusion section. and practices support our ability to avoid Our Employees business transactions with potential adverse Our ESRM Policy prohibits financing any Freedom of Association impacts on human rights. However, there are project for which our due diligence identifies Citi has identified workplace discrimination Citi has employees who are represented by times when the link is less direct between our the use of forced labor, harmful or exploit- and threats to diversity and inclusion as salient unions and works councils in a number of financial services and human rights impacts. ative child labor, or when the relevant labor human rights risks for our company. As such, countries where we operate. In addition, a In these instances, we work to improve our forces have been subjected to human traf- respect for diversity and inclusion is a high clients’ awareness and business practices. In ficking. Each year, we disclose our approach priority wherever we operate. It can become portion of our employee population is covered to identifying and mitigating the risks of by collective bargaining agreements. We engage addition, where a transaction’s financial and modern slavery in our operations (including a particular concern in countries where there directly with our employees and through these legal structure allow it, and Citi has identified is no legal protection against discrimination client transactions) and in our supply chain. associations to discuss issues such as health a concern, we may put loan covenants in place These disclosures, for the UK and Australia, based on gender, gender identity, race, ethnicity, and safety, remuneration, work hours, training, and monitor mitigation efforts through our cover information about our governance age, religion, physical or mental disability or career development, work time flexibility and ESRM systems and corrective action plans. and policies related to modern slavery, risk medical condition, or sexual orientation, in equal opportunity. Information related to assessment and due diligence processes, addition to a range of other essential charac- freedom of association is communicated to Human rights concerns related to a particular and training. teristics inherent to identity and personhood. employees through various mediums, including client or transaction may be escalated to the Citi prohibits discrimination and harassment employee handbooks, our intranet and specialist ESRM team for review and consul- of our employees in all forms, regardless of employee emails. tation, regardless of sector or financial product. whether or not individual protections are legally Our ESRM team may further escalate human mandated in the countries and communities rights risks identified to relevant reputation risk where we operate. In fact, we know that even in Respecting Human forums, which might include Reputation Risk locations with anti-discrimination laws, there is teams, relevant regional or global committees, still a need for companies to ensure that they are Rights in Our or a designated human rights working group or doing their part to respect individual rights. Financing Decisions task force. We expect every Citi employee to adhere to our Code of Conduct, which includes a commitment Effectively evaluating human rights risks related to human rights, and to participate in relevant to our clients and the projects we finance is a training. Our Code of Conduct prohibits sensitive and important challenge. We work unlawful discrimination, harassment and other diligently to meet this challenge and respect behavior that infringes on individual rights. human rights. As stated in our Code of Conduct, Citi expects all employees, as well as suppliers, clients and community partners globally, to respect the Citi 2022 ESG Report Page 79

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Human Rights Due Diligence in Action GENERAL CORPORATE PURPOSES FINANCE ARTISANAL SMALL-SCALE MINING IN CENTRAL IN THE MINING SECTOR AND WESTERN AFRICA Along with several other banks, Citi is providing financing The mining sector in this region is prone to increased human rights risks as a for a gold-mining company in a non-OECD country. This result of informal artisanal small-scale mining (ASM) operations. This kind of financing is not tied to a specific project, but rather will be mining is typically unmechanized and often occurs without proper permits or used for general corporate purposes, including working safety standards. Because ASM is frequently performed by untrained laborers capital and operational expenditures. Understanding and in areas with high unemployment and poverty, many people are put in harm’s working to mitigate potential human rights concerns in this way even as they depend on ASM for their livelihoods. company’s operations has been an important element of • Our role: While Citi does not directly finance ASM operations, our mining our financing decision process. clients may be exposed to ASM activities on or near their mine sites. Our • Our role: The Citi ESRM team proposed including an envi- risk-screening practices help us to identify geographies that require addi- ronmental and social requirement to the loan agreement tional due diligence to identify any risks of ASM occurring on our clients’ that would provide a framework for the client to bring its mining sites, which further led us to engage with our mining clients to management systems into alignment with international understand how they protect against the risk of ASM and ensure that the standards and guide future engagements should human rights of those in local communities are being respected. opportunities for additional financing arise. • Human rights concerns: Potential risks include security, health and safety, • Human rights concerns: Potential risks identified through and child labor. due diligence included worker safety due to a lack of proper • Evolving industry good practice: We are seeing a trend among our clients personal protective equipment, unclear management toward maturing practices in this area, specifically related to community practices related to the use of hazardous chemicals, and engagement and additional oversight of ASM activities, rather than outright concerns about inadequate water management and prohibition. Many legitimate mining companies are working to formalize impacts to local waterways. previously informal, unsafe and potentially illegal ASM operations that • Due diligence and risk mitigation: In response to require- were occurring within or adjacent to their official mining concessions. This ments from the lending institutions that the company formalization will establish more oversight to protect human rights and make align with international standards as a condition for the mining activities safer. In addition, these established mining companies financing, the company agreed to hire an independent are engaging with local communities to shift reliance away from unsafe consultant to benchmark its procedures and policies ASM operations toward agricultural programs and to support educational against the International Cyanide Management Code and programs for children as an alternative to working in the mines. the Responsible Gold Mining Principles. The consultant • Due diligence: By conducting due diligence on this risk, we emphasize to our was tasked with developing a timebound action plan clients the importance of evaluating all the human rights risks within their for alignment, which will inform ongoing monitoring and own operations and encourage them to learn from evolving good industry due diligence. practice to work with local communities on safe work environments and alternative job opportunities. Citi 2022 ESG Report Page 80

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Due Diligence in Client Transactions Identifying Human Rights Risks in Transactions Citi has thousands of corporate and institutional clients. The UN Guiding Principles acknowledge Our ESRM team screens transactions under the due diligence phase, our requirements we do in project-related financing, we still the challenges presented by extensive business the ESRM Policy for potential human rights include gaining access to project assessment identify sensitive sectors where we screen relationships, and we have adopted the risks. The specific types of human rights information that allows us to benchmark for potential elevated human rights risks and, approach set out in the UN Guiding Principles of risks we screen for are outlined in the table according to relevant standards, supported when identified, review our clients’ human prioritizing our due diligence and risk mitigation below. Further data related to ESRM Policy by a qualified independent consultant. rights policies and practices. This prioriti- first in areas where the risk of adverse human screening can be found in the Environmental If a project is not aligned with applicable zation leads us to evaluate our clients’ ability rights impact is most significant from the and Social Risk Management section. international standards, we will not approve to avoid, minimize, manage and mitigate perspective of the people who may be affected. financing unless we are satisfied that the potential human rights risks. We engage our We use our ESRM Policy and review process Project-related transactions: When human client has appropriate plans and capacity to clients to understand their implementation of to screen transactions for social impacts, rights risks are identified, the ESRM team mitigate project risks. those policies, whether they have adequate assess and manage risks consistently and might decline to approve the opportunity staffing to manage these issues, and we evaluate client operations against a common outright (if the risks are deemed too high to General corporate-level transactions (e.g., review and encourage strong disclosures of set of standards grounded in international best address) or outline what further due diligence renewing revolving credit facilities, issuing human rights policies. practices, including those related to human would be needed and which standards corporate bonds): Although we do not rights. See the Environmental and Social Risk would need to be met for the transaction have the same direct leverage and access Management section for details. to proceed. If an opportunity progresses to to information in general financing that Access to Remedy The UN Guiding Principles call on governments Human Rights Risks Screened During Transaction Reviews and companies to play their respective roles Conflict Risk: Project-induced conflict risk, which may be tied to competition for resources or land in ensuring that victims of human rights abuse have access to effective remedy. Remedy can Cultural Heritage: Properties and sites of archaeological, historical, cultural, artistic and religious significance; unique environmental features and cultural take many different forms, including apologies, knowledge; intangible forms of culture embodying traditional lifestyles financial or nonfinancial compensation, or Environmental Justice: Potential environmental risks to historically marginalized communities, especially surrounding industrial developments efforts to prevent future harm through policy Indigenous Peoples: Concerns regarding the extent to which Indigenous communities are consulted during project development and have consented to commitments and changes in operational impacts to their land, livelihood and cultural heritage practice. Labor Risks: Risks related to labor forces used in the construction of projects or other operations, including those associated with forced labor, child labor When we are made aware of potentially severe and human trafficking by project operators and their subcontractors adverse human rights impacts related to our Resettlement: Resettlement of local communities, including Indigenous groups, as necessary for project implementation; requires resettlement action plans financing of a client, our approach to remedy and should include efforts to gain the free, prior and informed consent of Indigenous communities usually involves working with clients to ensure Security Practices: Concerns about how project sponsors engage with public or private security forces protecting project sites they have the right policies in place and that channels are available to enable victims to lodge Water: Project-related impacts that hinder access to water or negatively affect water quality for local communities grievances. In addition, in line with our ability to prioritize adverse impacts based on severity, we Citi 2022 ESG Report Page 81

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing will encourage clients to follow up on allega- includes an assessment of the project sponsor’s has a global approach for handling customer tions and to have established processes to offer stakeholder engagement process, as well as its Serving Our complaints and concerns in a timely and remedy or to cooperate with authorities to make operational-level grievance mechanisms that effective manner, in line with our commitment sure effective remedy is provided. allow affected communities to raise concerns Customers to provide financial services responsibly and proactively with the project developers. treat customers fairly. For example, in 2022, Citi worked alongside other lending institutions to develop an action Engaging Stakeholders and Clients In 2022, we established a centralized Financial plan for an agricultural company in Asia. To ensure that we are living up to our commitment Inclusion and Racial Equity team within U.S. That plan required, in part, an audit of labor to respect human rights and to help identify Responsibly Personal Banking. This team is developing practices, which revealed that some of the emerging risks, we regularly communicate our targeted and integrated segment strategies, company’s workers were suffering indebtedness approach externally, engage with stakeholders driving seamless customer-centric execution, as the result of unfair recruiting practices. In on their issues of concern and work to advance and championing greater financial inclusion, response to the audit and concerns identified, respect for human rights more broadly. We have policies and systems in place to help racial equity and customer protection. This will the company changed its recruiting systems ensure that we treat customers responsibly help institutionalize racial equity within our to help address the risk of this type of unfair We led an Equator Principles Association collab- and fairly, such as our Code of Conduct and the business practices and policies. practice and reimbursed the affected workers. oration with Shift to develop enhanced guidance internal checks and balances we employ when for EP financial institutions (published in 2022) creating new products. We are also working to cultivate greater diversity for evaluating adequate grievance mechanisms and inclusivity in our marketing and commu- Listening to and access to remedy. Citi is also a member of the nications. For example, Citi collaborated with Stakeholders Shift Financial Institutions Practitioners Circle. Responsible Getty Images and the research firm Kantar to Through this group, we participate in workshops Marketing develop and launch 10 market-specific Diversity, and Addressing related to skill building on human rights due Equity and Inclusion (DE&I) Imagery Toolkits diligence for ESRM practitioners and deep dives to drive authentic and multifaceted depictions Grievances We offer our clients an array of products and of people in marketing and communications. into emerging salient human rights risks. This services based on their needs, wants and Each toolkit evaluates the local landscape of Reporting Mechanisms collaboration has helped us refine our approach preferences, while adhering to our internal the market, including demographics, trends in for Stakeholders to forced labor and human rights in the Asia policies and procedures as well as applicable imagery, areas of diversity that are often missing Pacific region. laws and regulations. We work diligently to in imagery and opportunities to combat stereo- The Ethics Hotline provides different channels clearly disclose all features and terms and types. We have made the toolkits available for for employees and any third party, including In addition, we continued to pay close attention conditions, including applicable fees and members of the general public, to report to human rights issues raised by stakeholders. free as a global public good via the Getty DE&I charges, for the products and services offered, Imagery Toolkit hub, so marketers and commu- concerns about unethical behavior to our Although banks are often under pressure to so that clients can select and use the products Ethics Office. In addition to internal and public disclose specific findings related to client nicators across brands and industries can better or services best suited to them. promote authentic visual representation in their facing websites that facilitate submission of projects, we are bound by legal requirements concerns, a telephone line is available 24 hours related to confidentiality that limit our ability New products are approved by cross-functional advertising. We have also hosted market-specific a day, seven days a week, with live operators to disclose such information without client committees that include senior executives from workshops with our agency partners and Citi who can connect callers to translators in consent. We must respect the requirements for Risk, Legal, our Independent Compliance Risk colleagues across marketing, communications multiple languages. client confidentiality in the banking sector, but Management team and other relevant units. and human resources, and commissioned we always implement our ESRM Policy to guide Citi also does periodic testing or monitoring of approximately 900 custom images to fill DE&I In addition, for project-related finance, we our client engagement to help identify solutions marketing materials and disclosures. In addition, imagery gaps in our internal image library for apply the Equator Principles to assess and to human rights challenges. Personal Banking & Wealth Management use in our global creative work. manage environmental and social risks. This Citi 2022 ESG Report Page 82

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Through our sponsorships, we seek to pursue not misleading. Additional policy documents, purposeful partnerships that align with our Our Treating Customers Fairly ELIMINATING OVERDRAFT FEES such as those related to Fair Debt Collection mission and values, that demonstrate positive Practices, advertising and sales practices, and societal impact, and that leave a legacy in the Principles In 2022, Citi became the first major U.S. complaint handling, work together to support communities we serve. For example, we have a bank to eliminate overdraft fees. This the overall fairness framework. • Works as described: Consumers can includes overdraft fees, returned item fees, long-standing commitment to supporting Para predict how products and services and overdraft protection transfer fees athletes and have partnered for many years with will work. As part of this program, Personal Banking & on Citi Retail Banking consumer deposit Wealth Management and Institutional Clients the International Paralympic Committee (IPC), • Appropriate: Consumers can rely on Citi accounts. which focuses on positively changing society’s to offer appropriate products and services Group employees complete annual Treating perceptions of people with disabilities. In 2022, that meet their needs. Customers Fairly training. The 2022 training Citi became a founding partner of IPC’s PARA • Value: Consumers receive value that is was assigned to approximately 100,000 Citi SPORT and committed to help grow Para ice reasonably related to the cost of the employees globally as of the time of this report’s hockey, with a focus on advancing gender equity products and services. publication. The training focuses on identifying in the sport. In support of this commitment, Citi • Ease of understanding: Consumers and escalating fairness issues and shows how was the presenting sponsor of the first Women’s understand the terms and conditions of fairness influences real-world results. World Challenge Para ice hockey tournament, the products and services (particularly Citi has formal escalation processes to our held in 2022 in Green Bay, Wisconsin. During the limitations and exclusions). governance committees and Board of Directors, year, we also continued to feature Para athletes to facilitate consistent, timely and appro- prominently in our global #StareAtGreatness priate identification, analysis and escalation of campaign, which seeks to change the potential consumer fairness and reputational perception of individuals with disabilities by within our servicing channels without requiring focusing on their incredible achievements. Treating Customers a legal name change. In 2022, we expanded and franchise risk issues. the program beyond our U.S. Branded credit We consider alignment with our Treating Fairly cards to include eligible U.S. debit cards as Customers Fairly principles when developing well. All customers with eligible U.S. Branded our employees’ variable incentive plans. For DESIGNING FOR ACCESSIBILITY We strive to adhere to high ethical standards, credit cards and U.S. debit cards can leverage example, we use client satisfaction metrics, We strive to provide products and services to earn and maintain the public’s trust and to this feature. As of the end of 2022, more than where available, along with other product-based that meet the accessibility needs and pref- deliver products and services that provide value, 35,000 customers had updated their first metrics, to encourage achievement of business erences of all our clients. For example, we clarity and dependability in line with our Treating names on their physical cards. results that adhere to internal policies and our offer braille and talking ATMs, large print and Customers Fairly principles. Our Global Consumer Fairness Policy provides Code of Conduct. We also routinely evaluate braille statements and raised-line checks incentive plans, training content, controls, for persons with visual disabilities. We also For example, many of our services are provided a framework for reviewing consumer fairness accept all calls placed through 711 and other in multiple languages to support the diverse concerns and a sustainable model for managing monitoring results and oversight activities telecommunications relay services. populations we serve, and our products are emerging risks. The policy covers all aspects to maintain a sales force that delivers on our tailored to meet the needs of the individuals of the consumer product and services life commitment to serving our customers with In addition, we have developed fully acces- cycle, including new product development, fairness, value, clarity and dependability. sible explanatory videos for our U.S. Branded in the countries where we do business. Cards business, to heighten customer marketing, sales (including variable incentive Additionally, we provide annual training and comprehension of key topics. This includes In addition, our chosen name feature was compensation), underwriting and onboarding, have measures in place to monitor sales real-time descriptive transcripts, embedded designed to solve key pain points for our as well as all other stages. These include practices, including auditing and metrics that closed captions and content readability. transgender and nonbinary customers by expected controls, such as review of adver- assess client risk profiles. When appropriate, giving Citi customers the option to use their tising and marketing by Compliance and Legal, we contact delinquent clients using their credit chosen first name on their eligible card and to make sure they are clear, truthful and are Citi 2022 ESG Report Page 83

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing risk profile and design contact strategies that an emerging fairness risk related to a business, which includes goals for spending with certified are vetted for compliance with applicable laws. product or service, or to the adequacy of diverse suppliers. We are also committed to Supplier Diversity Spend Goals We ensure that contact strategies are vetted handling complaints. procuring goods and services from women- for privacy and fairness considerations before owned businesses, with an emphasis in • Continue to spend $1 billion annually with implementation. We hold a Fair and Inclusive Banking off-site developing markets. The Supplier Diversity/ certified diverse suppliers training with senior management from across Racial Equity task force meets bi-weekly to • Continue to spend $250 million annually Our Global Financial Access Policy establishes the company to deepen their understanding of review progress against our supplier diversity with certified Black-owned suppliers the guiding principles and minimum standards fair lending and consumer fairness. goals, evaluate spend with diverse suppliers • Increase spending with certified women- for fair, equitable and nondiscriminatory access and discuss new opportunities with broader owned suppliers to the goods, products, services, facilities, initiatives across the company. privileges, advantages or accommodations 2022 Spending with Tier 1* that Citi provides to customers and clients. Responsible In 2022, we engaged sourcing and business Certified Diverse Suppliers Further, it prohibits discrimination against colleagues throughout Citi to share infor- actual or prospective clients on the basis of Sourcing mation with them about more than 200 diverse $1.3B $599M race, ethnicity, sex (which encompasses gender suppliers that have expertise in information spent with Tier 1 spent with Tier 1 as well as sexual orientation, gender identity technology staffing, learning and development, certified diverse certified Black-owned and gender expression), religion, national origin, customer experience, neurodiversity, career suppliers** suppliers disability or other prohibited factors. This Our Supply Chain Development, Inclusion and entry, and advertising and marketing. We $189M commitment is backed by training, processes, Sustainability Team (SCDIS) leads our efforts undertake a broad range of activities to expand spent with Tier 1 certified controls and oversight to help prevent discrim- to make decisions that support our responsible our base of diverse suppliers. Highlights from women-owned suppliers ination. In addition, we continually work to sourcing priorities: 2022 include: understand evolving discrimination risks and * Tier 1 suppliers are those Citi procures goods and • Support and expand diverse suppliers • Enhancing our internal processes to better services from directly. update our approach to preventing such risks in pinpoint business needs, so we can more ** This includes spend with many types of certified diverse our business strategies, as well as in the design • Encourage supplier sustainability practices suppliers, including Black-owned and women-owned firms. and delivery of our products and services. effectively identify diverse firms that are • Mitigate social and environmental risks qualified for specific opportunities at Citi Citi has a Global Complaints Standard and a related to suppliers formal complaint handling and governance program to ensure proper controls around Connecting Diverse SUPPLIER POLICIES identification, capturing and monitoring of consumer complaints, including those Suppliers to Our The following standards and policies guide responsible sourcing initiatives and communicate our submitted to regulators. A global complaint Business expectations related to environmental and social issues to our suppliers: forum assesses complaint volume trends, • The Citi Statement of Supplier Principles outlines the guidelines for our sustainable supply chain issues and appropriate actions needed to Citi integrates supplier diversity across our entire initiatives, including those related to human rights, ethical business practices and environmental address areas of potential risk. Allegations business. Our SCDIS team sets clear supplier sustainability. of discrimination or complaints that meet diversity goals and embeds them in our sourcing • The Citi Requirements for Suppliers provides detailed processes and procedures that our suppliers specific fairness triggers are escalated for processes. Every bid over $250,000 requires the must follow for contractual compliance and information about other key Citi policy obligations. review, to determine whether the allegations consideration of certified diverse firms. • We also ask suppliers to abide by the Citi Statement on Human Rights, including compliance with are substantiated. Additionally, complaints modern slavery regulations. For more information about our approach in this area, see the Human metrics are used to identify where there may be One of our Action for Racial Equity commit- Rights section. ments is investment in Black entrepreneurship, Citi 2022 ESG Report Page 84

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing • Supporting suppliers through seminars on Building navigating the lending process, including SUPPORTING MINORITY-OWNED BROKER-DEALERS introduction to lenders through Bridge built Capabilities of by Citi Aligned with our Action for Racial Equity commit- • Onboarded three minority broker-dealers to the ments, we continued to expand our capital equity share buyback platform and established Diverse Suppliers • Networking with and identifying certified market activities with minority-owned broker- a pipeline through 2024 for additional broker- diverse firms through participation in the dealers to assist with business and franchise dealers The SCDIS team provides U.S.-based small firms National Minority Supplier Development development. Highlights from 2022 include: • Hosted an annual breakfast at which diverse and women-, veteran-, disability-, LGBTQ+- and Council (NMSDC) Conference & Exchange, • Engaged minority- and women-owned firms to broker-dealers can share best practices and minority-owned businesses access to business and attending matchmaker sessions via participate in 88% of our benchmark debt issu- network with Citi leaders opportunities, training and mentoring. Our team NMSDC, New York & New Jersey Minority ances, including 100% of our USD transactions identifies certified diverse suppliers, including Supplier Development Council (NYNJMSDC), • Worked with minority broker-dealers exclu- small businesses that can meet our supply chain New York National LGBT Chamber of sively to lead several bond issuances: needs, then subsequently works to build their Commerce, Minority Supplier Development • Black-owned broker-dealers: capabilities. Highlights from 2022 include: UK, WBENC and WEConnect $2.5 billion deal (January 2022) • Collaborating with the NYNJMSDC to host • Women-owned broker-dealers: the 12th annual Sustainability Symposium, $2.25 billion deal (March 2022) during which Citi participated on an CITI RECOGNIZED FOR • Veteran-owned broker-dealers: ESG-focused panel addressing supplier EXCELLENCE IN MINORITY $2.0 billion deal (May 2022) diversity, the UK and Australia Modern BUSINESS INCLUSION • Hispanic-owned broker-dealers: Slavery Acts, climate change and preparing AND SUPPLIER DEVELOPMENT $2.75 billion deal (September 2022) suppliers to meet net zero expectations In 2022, Citi was awarded the National • Conducting regional “Doing Business with Corporation of the Year Award by the Citi” sessions across Asia Pacific, Latin NYNJMSDC. This award recognizes best America and Mexico, open to any supplier practices in inclusion of minority businesses, A New Opportunity for a South African Woman-Owned Business affiliated with select diversity certification including Asian, Black, Hispanic and Native agencies, during which we shared best American suppliers, as well as demonstrated Citi supports the Broad-Based Black Economic woman-owned business to run the coffee shop practices for doing business with Citi and results in areas important to minority supplier Empowerment (BBBEE) program in South Africa. in one of our local facilities. This achievement other large companies development processes, including policies, In 2022, our BBBEE Scorecard improved from had a significant positive impact on our BBBEE • Supporting the NMSDC Emerging Young growth in spend, minority business develop- Level 3 to Level 2, due, in part, to our work to Scorecard, and as a result, Citi is more likely to ment, and leadership and engagement. support and empower diverse businesses in the be awarded requests for proposals (RFPs) and to Entrepreneur Program, which helps entrepre- region. For example, our South African Country be recognized as an organization that supports neurs build their businesses, and providing Sourcing Manager collaborated with our Country supplier diversity, the empowerment of small a related scholarship to the Tuck School of Business & Travel Shared Service Head of Dining businesses and the growth of the South African Business for a minority-owned business Services to support the development of a Black-, economy. Citi 2022 ESG Report Page 85

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance Disclosure Number and Title Report Section or Other Documentation Disclosure Number and Title Report Section or Other Documentation 2-7 Employees • Global Workforce Data 2-14 Role of the highest Our Board-level Audit Committee has oversight of controls and • 2022 10-K pages 57–58 governance body in sustainability procedures related to Our ESG and climate-related reporting, including reporting both voluntary disclosures and regulatory filings. The Global ESG There are no significant variations in employment numbers (such as Council provides senior management oversight of the workstreams seasonal variations in employment). discussed in the report. • ESG Governance at Citi 2-8 Workers who are not Citi may engage external service providers who may be responsible • Our Material ESG Issues employees for performing noncore business activities or engage nonemployee 2-15 Conflicts of interest • 2023 Proxy Statement pages 24–26, 37–40 and 98–99 resources who are employed by an external third party but support Citi processes. These nonemployee resources could be working under 2-16 Communication of critical • ESG Governance at Citi Citi supervision or be working under the supervision of an external concerns • Citi Code of Conduct third party in the third party’s facility. Citi may engage external service providers or nonemployees for a variety of different business purposes, • 2023 Proxy Statement pages 40–42 including project-based work for a defined period of time, specialized/ 2-17 Collective knowledge of the • ESG Governance at Citi niche skill sets that are not readily available or professional and highest governance body • 2023 Proxy Statement pages 10–11 and 52–62 outsourced services. 2-9 Governance structure and • ESG Governance at Citi 2-18 Evaluation of the • Corporate Governance Guidelines page 6 composition • Citi Corporate Governance performance of the highest • 2023 Proxy Statement page 29 • 2023 Proxy Statement pages 20–31, 32–36 governance body 2-10 Nomination and selection of • Nomination, Governance and Public Affairs Committee Charter 2-19 Remuneration policies • ESG Governance at Citi > Remuneration the highest governance body • 2023 Proxy Statement pages 45–49 • Compensation Philosophy • Compensation, Performance Management and Culture Committee 2-11 Chair of the highest The Chair of the Board is a nonexecutive, independent director. Charter governance body • 2023 Proxy Statement page 27 • 2023 Proxy Statement pages 63–66 2-12 Role of the highest • ESG Governance at Citi 2-20 Process to determine • ESG Governance at Citi > Remuneration governance body in overseeing the • Our Material ESG Issues remuneration management of impacts • Our Approach to Managing Climate Risk 2-21 Annual total compensation • 2023 Proxy Statement pages 109-110 • Transforming Our Risk and Controls Environment ratio • Ethics and Culture at Citi 2-22 Statement on sustainable • Letter from Our CEO • Risk Management development strategy • Audit Committee Charter • Nomination, Governance and Public Affairs Committee Charter 2-23 Policy commitments • Ethics and Culture at Citi • Risk Management Committee Charter • Risk Management > Environmental and Social Risk Management • 2022 10-K pages 54–56 • Citi Code of Conduct • 2023 Proxy Statement pages 13, 32–36, 92–93 • Citi Corporate Governance • Environmental & Social Policies 2-13 Delegation of responsibility • ESG Governance at Citi for managing impacts • Citigroup Board of Director’s Committee Charters • 2023 Proxy Statement pages 32–36 Citi 2022 ESG Report Page 88

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance Disclosure Number and Title Report Section or Other Documentation Disclosure Number and Title Report Section or Other Documentation GRI 405: Diversity and Equal Opportunity 2016 GRI 411: Rights of Indigenous Peoples 2016 3-3 Management of material • Our Talent and DEI Strategy 3-3 Management of material • Human Rights > Our Commitment to Respect Human Rights topics • Human Rights > Our Commitment to Respect Human Rights topics • Human Rights > Respecting the Rights of Indigenous Peoples • Human Rights > Respecting the Human Rights of Our Employees • Human Rights > Respecting Human Rights in Our Financing Decisions 405-1 Diversity of governance • Global Workforce Data 411-1 Incidents of violations • Human Rights > Identifying Human Rights Risks in Transactions bodies and employees • Board of Directors involving rights of indigenous • 2023 Proxy Statement page 28 peoples • 2022 10-K pages 57-58 GRI 413: Local Communities 2016 GRI 407: Freedom of Association and Collective Bargaining 2016 3-3 Management of material • Stakeholder Engagement at Citi 3-3 Management of material • Human Rights > Respecting the Human Rights of Our Employees topics • Financing Social Impact topics • Action for Racial Equity 407-1 Operations and suppliers • Human Rights > Respecting the Human Rights of Our Employees • Citi Impact Fund in which the right to freedom • Strategic Philanthropy: The Citi Foundation of association and collective • Risk Management > Our ESRM Policy bargaining may be at risk • Environmental and Social Policy Framework GRI 408: Child Labor 2016 413-1 Operations with local • Stakeholder Engagement at Citi community engagement, impact • Financing Social Impact > Supporting Affordable Housing 3-3 Management of material • Human Rights > Respecting Human Rights in Our Financing Decisions assessments, and development topics • Responsible Sourcing > Supplier Policies • Action for Racial Equity programs • Citi Impact Fund • Strategic Philanthropy: The Citi Foundation 408-1 Operations and suppliers We have not identified operations as having significant risk for • Risk Management > Environmental and Social Risk Management at significant risk for incidents of incidence of child labor. Our business overall is not at high risk because • Human Rights > Listening to Stakeholders and Addressing Grievances child labor of the nature of work in the financial services industry. In addition, we do not directly source high-risk agricultural commodities, conflict • Responsible Sourcing minerals or other raw materials, goods or services in significant amounts 413-2 Operations with • Risk Management > Environmental and Social Risk Management from suppliers in high-risk jurisdictions. significant actual and potential • Human Rights > Our Commitment to Respect Human Rights GRI 409: Forced or Compulsory Labor 2016 negative impacts on local • Human Rights > Respecting Human Rights in Our Financing Decisions 3-3 Management of material • Human Rights > Respecting Human Rights in Our Financing Decisions communities • Responsible Sourcing topics • Responsible Sourcing > Supplier Policies GRI 415: Public Policy 2016 409-1 Operations and suppliers We have not identified operations as having significant risk for incidence 3-3 Management of material • ESG Governance at Citi at significant risk for incidents of of forced or compulsory labor. In addition, we do not directly source high- topics forced or compulsory labor risk agricultural commodities, conflict minerals or other raw materials in • Risk Management > Public Policy significant amounts from suppliers in high-risk jurisdictions. • Citi Political Engagement Statement • Human Rights > Respecting Human Rights in Our Financing Decisions 415-1 Political contributions • Citi U.S. Political Contributions • Responsible Sourcing Citi 2022 ESG Report Page 92

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance The Principles for Responsible Banking Index (as of December 31, 2022) The Principles for Responsible Banking (PRB or the Principles) are a framework for signatory banks to use in aligning their strategy and practice with the Sustainable Development Goals (SDGs) and the Paris Climate Agreement (Paris Agreement). The Principles encourage a sustainable banking system and help the industry demonstrate how it makes a positive contribution to society. Citi is committed to responsible banking, and we continue our efforts to conduct business in a manner that is consistent with the intent of the Principles. The Principles for Responsible Banking Reporting and Self-Assessment Template (the PRB Template) outlines reporting requirements for PRB signatories. Citi prepared and presented the following PRB Template as of December 31, 2022, as discussed in the PRB Reporting and Self-Assessment Template Supplement on page 122. Reporting and Self-Assessment Requirements Response Links and References Principle 1: Alignment We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the SDGs, the Paris Agreement and relevant national and regional frameworks. Business Model Describe (high-level) your bank’s business model, Citigroup (Citi, the company) is a global diversified financial services holding company whose businesses provide External References including the main customer segments served, types of products and consumers, corporations, governments and institutions with a broad range of financial products and services, including • About Citi services provided, the main sectors and types of activities across the consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services • Citi Businesses main geographies in which your bank operates or provides products and wealth management. Citi has approximately 200 million customer accounts and does business and services. Please also quantify the information by disclosing e.g. in nearly 160 countries and jurisdictions. • Global Presence the distribution of your bank’s portfolio (%) in terms of geographies, • 2022 10-K, pages 1-6 segments (i.e. by balance sheet and/or off-balance sheet) or by Citigroup is managed pursuant to three operating segments: Institutional Clients Group (ICG), Personal Banking and disclosing the number of customers and clients served. Wealth Management (PBWM) and Legacy Franchises. Activities not assigned to the operating segments are included in Corporate/Other. For more details on specific businesses under these segments and the regions served, please see pages 1 to 6 in our 2022 10-K. Strategy alignment Does your corporate strategy identify and reflect sustainability as strategic priority/ies for your bank? Yes No Please describe how your bank has aligned and/or is planning to align its strategy to be consistent with the Sustainable Development Goals (SDGs), the Paris Climate Agreement, and relevant national and regional frameworks. Does your bank also reference any of the following frameworks or sustainability regulatory reporting requirements in its strategic priorities or policies to implement these? UN Guiding Principles on Business and Human Rights Any applicable regulatory reporting requirements on environmental risk assessments, e.g. International Labour Organization fundamental conventions on climate risk - please specify which ones: UN Global Compact Any applicable regulatory reporting requirements on social risk assessments, e.g. on modern UN Declaration on the Rights of Indigenous Peoples slavery - please specify which ones: U.K. and Australian Modern Slavery Acts None of the above Citi 2022 ESG Report Page 107

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance Reporting and Self-Assessment Requirements Response Links and References b) Portfolio composition: Has your bank considered the composition Citi discloses our consumer credit portfolio broken down by business and by geographic distribution (please see page 70 of External References of its portfolio (in %) in the analysis? Please provide proportional the 2022 10-K). For our corporate credit portfolio, we disclose the portfolio exposure mix by industry (please see page 65 • 2022 10-K, pages 64-66, composition of your portfolio globally and per geographical scope of 2022 10-K) as well as outstanding loan amounts across sectors (please see page 66 of 2022 10-K). Citi also provides 70 i) by sectors & industries for business, corporate and investment banking a breakdown of its credit exposures and associated levels of climate risk vulnerability in a climate risk credit exposure heat • 2022 TCFD Report, pages portfolios (i.e. sector exposure or industry breakdown in %), and/or map (please see pages 54 to 56 of the 2022 TCFD Report).* 54-56 ii) by products & services and by types of customers for consumer and retail banking portfolios. *The disclosed exposures in this heat map may have approximately a one-year lag relative to the 10-K. If your bank has taken another approach to determine the bank’s scale of exposure, please elaborate, to show how you have considered where the bank’s core business/major activities lie in terms of industries or sectors. c) Context: What are the main challenges and priorities related to From the engagement described in section 2.1 a), we work to maintain awareness of the most relevant sustainable 2022 ESG Report sustainable development in the main countries/regions in which your development challenges and priorities in the countries and regions in which we operate. • Sustainable Finance bank and/or your clients operate? Please describe how these have • Action for Racial Equity been considered, including what stakeholders you have engaged to Climate change is one of the significant challenges facing our global society and economy. The Intergovernmental Panel help inform this element of the impact analysis. on Climate Change’s (IPCC)’s 6th Assessment Report, originally released in 2021, and subsequent, supplemental publications, highlight the urgent need to address climate change. Several industry-wide initiatives also identify corporate External References This step aims to put your bank’s portfolio impacts into the context lending as a key impact area with the potential to mitigate climate change: of society’s needs. • Action for Racial Equity • The Partnership for Carbon Accounting Financials (PCAF) standard was established to assess emissions associated • Action for Racial Equity with financing, with an initial focus on lending. Year Two Progress Report • The UNEP FI Guidelines for Climate Target Setting for Banks (“UNEP FI Guidelines”) focus on lending and investment • Action for Racial Equity - activities. External Audit Report Citi has also identified economic mobility and financial inclusion as an area where we can have impact and that we have • Banking in Color taken steps to address, including through our $1 Trillion Sustainable Finance Goal (please see page 12 of our 2022 • Closing the Racial ESG Report) and specific initiatives in the U.S. Within the U.S., we have launched the Citi Access Account, which serves Inequality Gaps under-banked households by providing access to low-cost checking products (please see page 95 of our 2022 ESG • IPCC 6th Assessment report) and we have specifically focused on the racial wealth gap, which has been highlighted in numerous reports, Report including the Citi Global Perspectives & Solutions (GPS) report “Closing the Racial Inequality Gaps,” (2020). Specifically, Citi and the Citi Foundation launched Action for Racial Equity, which includes more than $1 billion in strategic initiatives to close the racial wealth gap and increase economic mobility in the U.S. Citi 2022 ESG Report Page 110

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance Reporting and Self-Assessment Requirements Response Links and References d) For these (min. two prioritized impact areas): Performance Climate Change: 2022 ESG Report measurement: Has your bank identified which sectors & industries We have employed several methodologies to assess the intensity and salience of climate change impacts. For example, • Our Net Zero Commitment as well as types of customers financed or invested in are causing the we publish financed emissions metrics for multiple sectors in our loan portfolios, in accordance with the PCAF standard > 2030 Emissions strongest actual positive or negative impacts? Please describe how and have established emissions reduction targets for our Auto Manufacturing, Commercial Real Estate, Energy, Reduction Targets you assessed the performance of these, using appropriate indicators Power, Steel and Thermal Coal Mining loan portfolios, with intentions to analyze our financed emissions for other carbon- • Investing in Our related to significant impact areas that apply to your bank’s context. intensive sectors in the future. For details, please see the Strategy and Metrics & Targets sections our 2022 TCFD Report. Communities In determining priority areas for target-setting among its areas of most Financial Inclusion: U.S. Racial Wealth Gap: • Action for Racial Equity significant impact, you should consider the bank’s current performance For over 20 years, Citi and the Citi Foundation have invested in organizations and partnerships that support financial • Risk Management levels, i.e. qualitative and/or quantitative indicators and/or proxies of inclusion and expanding economic opportunities for low-income families and communities of color, whose constituents > Environmental and Social the social, economic and environmental impacts resulting from the represent a portion of our retail banking customers. Our efforts span international markets. For example, on page 19 of Risk Management bank’s activities and provision of products and services. our 2022 ESG Report, we detail our recent work to support digital connectivity and financial inclusion in Mexico. If your bank has taken another approach to assess the intensity of In 2020, Citi launched Action for Racial Equity to help address drivers of the racial wealth gap and increase economic External References impact resulting from the bank’s activities and provision of products mobility in the U.S. Citi core businesses as well as the Citi Foundation committed over $1 billion in strategic initiatives • 2022 TCFD Report and services, please describe this. for the 2020-2023 period. • Action for Racial Equity The outcome of this step will then also provide the baseline To help execute on parts of the goals under Action for Racial Equity (alongside existing units such as Citi Mortgage, • Action for Racial Equity (incl. indicators) you can use for setting targets in two areas Citi Community Capital, Citi Impact Fund and the Supplier Diversity function as well as the Citi Foundation), in 2022, Year Two Progress Report of most significant impact. Citi created the Diverse Financial Institutions Group (DFIG) in the Markets division of ICG.* DFIG is a dedicated team • Action for Racial Equity - tasked with leading and expanding firmwide engagement with minority-owned depository institutions (MDIs), diverse External Audit Report broker-dealers and diverse asset managers. Citi also has an MDI Rotational program that embeds Citi employees in MDIs for up to a year to share their expertise and help grow the host MDIs’ business. Citi’s U.S. Personal Banking (USPB) team also contributes products and services that provide all of our customers with more affordable financial solutions, improved access to products and solutions and improved financial education. To support this work and catalyze further innovation, Citi also created a Financial Inclusion and Racial Equity team* within USPB in 2022, which is developing targeted and integrated segment strategies and championing greater financial inclusion, racial equity and customer protection. Through these engagements, we continue to enhance our understanding of and approach to helping address the racial wealth gap and its impact on communities. *For more details on the execution of the Action for Racial Equity, please see the Action for Racial Equity Year Two Progress Report, pages 43 to 44 of the 2022 ESG Report and the external audit conducted by Covington & Burling. Citi 2022 ESG Report Page 112

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance Reporting and Self-Assessment Requirements Response Links and References Self-assessment summary Which of the following components of impact analysis has your bank completed, in order to identify the areas in which your bank has its most significant (potential) positive and negative impacts? Scope: Yes In progress No Portfolio composition: Yes In progress No Context: Yes In progress No Performance measurement: Yes In progress No Which most significant impact areas have you identified for your bank, as a result of the impact analysis? Climate change, Financial Inclusion: U.S. Racial Wealth Gap How recent is the data used for and disclosed in the impact analysis? Up to 6 months prior to publication Up to 18 months prior to publication Up to 12 months prior to publication Longer than 18 months prior to publication 2.2 Target Setting (Key Step 2) Climate Change: 2022 ESG Report Show that your bank has set and published a minimum of two targets Net Zero Commitment: In alignment with the goals of the Paris Agreement, we have committed to net zero GHG emissions • Our $1 Trillion Goal which address at least two different areas of most significant impact for our financing by 2050 and net zero GHG emissions for our operations by 2030. To date, we have set interim, 2030 • Our Net Zero Commitment that you identified in your impact analysis. emissions reduction targets for the following sectors: Auto Manufacturing, Commercial Real Estate, Energy, Power, Steel > 2030 Emissions The targets have to be Specific, Measurable (qualitative or quantitative), and Thermal Coal Mining. We also publish our financed emissions in accordance with the PCAF methodology. Our targets Reduction Targets Achievable, Relevant and Time-bound (SMART). Please disclose the and baselines can be found on page 29 of the 2022 ESG report. • Reducing Climate Risk in following elements of target setting (a-d), for each target separately: $1 Trillion Sustainable Finance Goal: We have committed $1 trillion to sustainable finance by 2030. This goal will support our Financing innovation and action toward addressing the global challenges outlined in the Paris Agreement and UN SDGs. To count • Action for Racial Equity a) Alignment: which international, regional or national policy toward the goal, a transaction must meet established criteria as outlined on page 13 of the 2022 ESG Report. Progress frameworks to align your bank’s portfolio with have you identified as toward this goal can be found on page 14 of the 2022 ESG report. rele-vant? Show that the selected indicators and targets are linked Thermal Coal Mining Exposure: Within our Environmental and Social Risk Management (ESRM) Policy, we have included External References to and drive alignment with and greater contribution to appropriate a commitment to eliminate our exposure to thermal coal mining companies by 2030. We report annually on our progress Sustainable Development Goals, the goals of the Paris Agreement, • 2022 TCFD Report and other relevant international, national or regional frameworks. toward this commitment and include an interim target to reduce our exposure to half by the end of 2025. Progress • Action for Racial Equity toward this commitment can be found on page 33 of the 2022 ESG report. You can build upon the context items under 2.1. • Action for Racial Equity Financial Inclusion: U.S. Racial Wealth Gap: Year Two Progress Report Action for Racial Equity: Citi and the Citi Foundation have committed over $1 billion in strategic initiatives through the • Action for Racial Equity - end of 2023 to help close the racial wealth gap. Progress toward this commitment can be found on page 44 of the External Audit Report 2022 ESG report. Social criteria under our $1 Trillion Sustainable Finance Goal also include “Economic Inclusion,” and we detail case studies of transactions contributing to this goal that seek to further financial inclusion on pages 19 and 21 of the 2022 ESG report. As described above, the goal is compatible with the SDGs, and financial inclusion-oriented sustainable finance activity may support the following SDGS: 1 No poverty; 8 Decent work and economic growth; and 10 Reduced inequalities, among others. Citi 2022 ESG Report Page 113

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance Reporting and Self-Assessment Requirements Response Links and References Principle 3: Clients and Customers We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations. 3.1 Client engagement We have established dedicated teams embedded across our businesses to offer strategic sustainable finance services 2022 ESG Report Does your bank have a policy or engagement process with clients and solutions. Our business groups, including Banking, Capital Markets and Advisory; Global Markets; Global Wealth • Financing the Low-Carbon and customers in place to encourage sustainable practices? Management; and Treasury and Trade Solutions, all have bankers or teams focused on advising clients and offering Transition Yes In progress No customized ESG-themed products and services. For further details, please see “Sustainable Finance Across Citi” on • Risk Management page 22 of our 2022 ESG Report. For climate-specific engagements, please see page 29 in our 2022 TCFD Report. > Environmental and Does your bank have a policy for sectors in which you have identified Our Environmental and Social Risk Management (ESRM) Policy guides our approach to engaging with clients on environ- Social Risk Management the highest (potential) negative impacts? mental and social risks, to help us finance projects and activities responsibly. Ongoing engagement with our clients is an Yes In progress No important part of our ESRM process. When we first established our ESRM Policy, our engagements were tied to specific, External References project-related financial transactions and their associated environmental and social risks and mitigation efforts. Describe how your bank has worked with and/or is planning to work However, as we have developed Sector Approaches and Areas of High Caution over the years, we have added corporate- • 2022 TCFD Report with its clients and customers to encourage sustainable practices level reviews and client engagements in several sectors. These sector-specific risk review processes encourage dialogue • Environmental and Social and enable sustainable economic activities. It should include infor- between Citi and our clients about the material environmental and social risks associated with their operations, enabling Policy Framework mation on relevant policies, actions planned/implemented to support us to develop a better understanding of prevailing industry practices and our clients’ performance and provide advice on clients’ transition, selected indicators on client engagement and, more sustainable practices, as needed. where possible, the impacts achieved. This should be based on and in line with the impact analysis, target- setting and action plans put in place by the bank. 3.2 Business opportunities Citi has announced a goal to finance or facilitate $1 trillion in sustainable finance by 2030. The goal aims to further the 2022 ESG Report Describe what strategic business opportunities in relation to the transition to a sustainable, equitable, low-carbon economy that supports society’s environmental, social and economic • Sustainable Finance increase of positive and the reduction of negative impacts your bank needs, consistent with the SDGs. We report on progress toward this goal as well as the associated impacts on pages 14 has identified and/or how you have worked on these in the report- to 15 of the 2022 ESG Report. External References ing period. Provide information on existing products and services , To address the needs of clients involved in energy transition and sustainability, Citi has established a dedicated • 2022 TCFD Report, information on sustainable products developed in terms of value (USD Clean Energy Transition (CET) group. CET offers corporate and investment banking products and services to help pages 27-29 or local currency) and/or as a % of your portfolio, and which SDGs or companies involved in energy transition execute on their business plans and achieve scale. CET is part of our Natural impact areas you are striving to make a positive impact on (e.g. green Resources & Clean Energy Transition (NRCET) group, which also houses our Energy, Power and Chemicals teams that focus mortgages – climate, social bonds – financial inclusion, etc.). on advising corporate clients on strategic matters, including the energy transition. Citi’s Sustainability and Corporate Transitions (SCT) team engages with clients at the C-suite and senior levels, across all sectors, to support the transition of their businesses to a more sustainable, net zero and nature-positive future. The team also engages with mature and early-stage companies that are developing new technologies, innovations and sustainable business models. The SCT team provides solutions to clients including strategic advice, M&A advisory, equity and debt capital markets services, and corporate banking solutions. Citi 2022 ESG Report Page 117

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance Reporting and Self-Assessment Requirements Response Links and References Principle 4: Stakeholders We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals. 4.1 Stakeholder identification and consultation Citi believes that we are best able to drive business value when we serve the interests of a wide array of stakeholders, 2022 ESG Report Does your bank have a process to identify and regularly consult, including our shareholders. To fulfill this approach, we regularly review our stakeholder engagements across a range • Stakeholder Engagement engage, collaborate and partner with stakeholders (or stakeholder of functions, including Enterprise Services and Public Affairs (ESPA), Investor Relations, Human Resources and at Citi groups) you have identified as relevant in relation to the impact Corporate Governance, as well as Sustainability & ESG, Government Affairs and other teams in ESPA. analysis and target setting process? A summary of the groups we have engaged with and the topics discussed is provided in the Stakeholder Engagement External References Yes In progress No at Citi section of the 2022 ESG Report. We also highlight our climate-related engagement with clients and trade associations in our 2022 TCFD Report. • 2022 TCFD Report, Please describe which stakeholders (or groups/types of stakeholders) pages 29, 33-37 you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/ results achieved and how they fed into the action planning process. Principle 5: Governance & Culture We will implement our commitment to these Principles through effective governance and a culture of responsible banking 5.1 Governance Structure for Implementation Our Sustainability & ESG team, in collaboration with partners across the company, is responsible for developing 2022 ESG Report of the Principles sustainability and climate-related targets and monitoring progress toward their achievement. Our Chief Sustainability • ESG Governance at Citi Does your bank have a governance system in place that incorporates Officer, Head of Community Investing and Development and other seniors have oversight over target-setting, development > Remuneration the PRB? of goals and commitments, measures put in place to achieve the targets, goals or commitments, as applicable, and Yes In progress No recommending remedial action if necessary where targets are not on track or to address unforeseen negative impacts. External References Please describe the relevant governance structures, policies and We track our progress toward our targets, goals and commitments and provide reports to the Nomination, Governance • 2022 TCFD Report, procedures your bank has in place/is planning to put in place to and Public Affairs Committee (NGPAC) and/or the full Board of Directors. The Chief Sustainability Officer and Head of pages 11-16 manage significant positive and negative (potential) impacts and Community Investing and Development periodically report to the Board on progress made in achieving our targets, goals and commitments, as applicable. Reports are also provided to the Global ESG council on a periodic basis for progress • Action for Racial Equity support the effective implementation of the Principles. This includes toward our Action for Racial Equity commitments, $1 Trillion Sustainable Finance Goal and net zero commitment. For Year Two Progress Report information about further details on our ESG governance structure, please see pages 6 to 7 of our 2022 ESG Report. • Action for Racial Equity - • Which committee has responsibility over the sustainability strategy External Audit Report as well as targets approval and monitoring (including information For details on the remuneration practices linked to sustainability targets, please refer to the Remuneration section on about the highest level of governance the PRB is subjected to), page 7 of our 2022 ESG Report. • Details about the chair of the committee and the process and frequency for the board having oversight of PRB implementation Note: Our governance processes provide for oversight of the implementation of our key initiatives and targets. In the self- (including remedial action in the event of targets or milestones not assessment summary at the end of this section, we answer “yes” to the question asking if the CEO or other C-suite officers have being achieved or unexpected negative impacts being detected), oversight over implementation of the Principles. We note that while there is oversight on initiatives that align with the goals of as well as the Principles, the Principles themselves are not specifically discussed in review of the issues by these individuals. • Remuneration practices linked to sustainability targets. Citi 2022 ESG Report Page 118

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance Reporting and Self-Assessment Requirements Response Links and References 5.2 Promoting a culture of responsible banking: Code of Conduct: 2022 ESG Report Describe the initiatives and measures of your bank to foster a culture Our Code of Conduct outlines the standards of ethics and professional behavior expected of employees and representa- • ESG Governance at Citi of responsible banking among its employees (e.g., capacity building, tives of Citi when dealing with clients, business colleagues, shareholders, communities and each other. It also provides > Remuneration e-learning, sustainability trainings for client-facing roles, inclusion in an overview of select global policies. We provide Code of Conduct training to new hires globally when they join Citi, as • Ethics and Culture at Citi remuneration structures and performance management and leader- well as to nonemployee contingent workers performing services for Citi at their time of onboarding. Additionally, all Citi • Risk Management ship communication, amongst others). employees receive annual Code of Conduct training. > Managing Corruption Programs and Training: and Tax-Related Risks • Risk Management > Anti-Bribery and Corruption: Programs and Training to Citi has policies, procedures and internal controls to comply with anti-bribery laws, and we conduct an annual bribery Combat Financial Crimes risk assessment of all global business lines. We provide our staff with anti-bribery training annually and supplement • Risk Management it with targeted training and communications as needed. For more information, on this and other relevant programs, > Environmental and please see “Programs and Training to Combat Financial Crimes” on page 68 of the 2022 ESG Report. Social Risk Management Anti-Money Laundering: • Serving Our Customers and Our AML Program helps protect our clients, our franchise and the global financial system from the risks of money Clients Responsibly laundering and terrorist financing. The global program consists of designated AML Country Officers covering every Citi > Treating Customers Fairly business, function and geographic area. These specialists partner with various functions, including Compliance, Audit, Technology and our institutional and consumer businesses, to provide effective enterprise AML risk management and External References: to meet our AML-related requirements at both the global and the local levels. • Citi Code of Conduct ESRM Training: • 2022 TCFD Report, We provide ESRM training to key risk and banking personnel globally, to help them identify potential risks and opportunities pages 11-16 to engage with our ESRM specialist team more effectively. For more information, please see the Environmental and Social Risk Management section of the 2022 ESG Report. Serving Our Customers and Clients Responsibly: We have policies and systems in place to help ensure that we treat customers responsibly and fairly, including our Code of Conduct, responsible marketing practices, our Treating Customers Fairly Principles, our Global Financial Access Policy and our Global Consumer Fairness Policy. Climate Training: Citi has launched an enterprise-wide training module on climate risk, which covers key climate risk concepts including: definition of climate risk, emerging climate risk standards, supervisory expectations and an overview of Citi’s efforts to date and initiatives to enhance climate risk management. Citi recognizes that climate-related training needs to be tailored to different positions and teams (e.g., risk management employees, frontline bankers and industry teams) where the development of subject matter expertise is imperative. There- fore, in 2022, Citi launched two different training pilots that involved virtual and in-person workshops for colleagues in banking, risk and global functions. The first pilot focused on foundational knowledge of sustainability and climate science for a cross-business cohort of Banking, Capital Markets and Advisory (BCMA) bankers. The second of these pilots focused on a “deeper dive” in assessing transition plans and client engagement, specifically for the Energy and Power portfolios. Remuneration: For details on the remuneration practices linked to sustainability targets, please refer to the Remuneration section on page 7 of our 2022 ESG Report. Citi 2022 ESG Report Page 119

ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices GRI Content Index Sustainability Accounting Standards Board Index United Nations Global Compact Index United Nations Guiding Principles Reporting Framework Index The Principles for Responsible Banking Index Assurance The following provides additional context to 2.2 Target Setting Citi recognizes the potential negative impacts 5.1 Governance Structure for Implementation Citi’s approach to preparing the PRB Template. As a founding signatory to the Net Zero Banking of a disorderly transition to a low-carbon of the Principles Alliance, Citi has set a net zero by 2050 economy and has published our Net Zero Our governance processes provide for oversight 2.1 Impact Analysis commitment for its financing and has progres- Transition Principles, which will guide us in the over the elements and initiatives that facilitate The description of our core business activities, sively released 2030 emissions reduction targets implementation of our net zero commitment implementation of our key initiatives, targets, regions served and portfolio composition (credit for carbon-intensive sectors. The targets are and targets. goals and commitments. Our governance exposure) are derived from our year-end (YE) informed by the UN Guidelines for Climate structures are detailed in our 2022 ESG Report, 2022 10-K. More granular details on portfolio Target Setting for Banks, and Citi discloses its Our Action for Racial Equity initiative is designed which includes descriptions of oversight from composition are published in the Climate Risk sectoral approach, baselines and strategy to to help address the racial wealth gap and increase the Board, Board committees and the Executive Heat Map in our 2022 TCFD Report. achieve the 2030 targets in its annual TCFD economic mobility and financial inclusion in the Management Team, as well as a detailed reports. Likewise, Citi has set targets to reduce U.S. by: 1) providing greater access to banking diagram of climate governance within the firm. The context of potential impacts was determined its exposure to thermal coal mining, with the and credit in communities of color, 2) increasing As described before, target setting, imple- by reviewing research and materials from NGOs understanding that this is a carbon-intensive investment in Black-owned businesses, 3) mentation and monitoring of our initiatives are and academic institutions, among other sources. sector. Our $1 Trillion Sustainable Finance Goal expanding homeownership among Black presented to the Board on at least an annual This research was also supplemented by targeted also includes criteria that help address climate Americans and 4) advancing anti-racist practices basis and to senior-level councils/steering stakeholder engagement sessions. change and the transition to a low-carbon in the financial services industry. groups on a periodic basis. Scorecard elements Our approach to impact analysis is an organic economy. 2.3 Target implementation and monitoring pertaining to ESG/Sustainability goals are process that involves multiple concurrent Citi publishes metrics associated with its net prepared in coordination with the appropriate workstreams and feedback pathways that Baselines have been published for our 2030 compensation teams and are overseen by the emissions reduction targets (either 2020 or zero targets and Action for Racial Equity goals Compensation, Performance Management and keep us aware of potential emerging issues 2021, depending on sector). These baselines and commitments on an annual basis. Progress and impacts in the areas we serve. We have toward these initiatives is also presented to Culture Committee of the Board. identified climate change globally and economic leverage the Partnership for Carbon Accounting Financials (PCAF) methodology and reference the ESG Council on a regular basis. mobility and financial inclusion in the U.S. committed, rather than drawn, funds. We also as two key areas of impact. Progress on key disclose our thermal coal mining exposure initiatives related to these areas of impact baseline (YE 2020) and baselines for our opera- are presented to the senior-level ESG Council tional emissions (YE 2010) within our annual (which has members from the Executive ESG report disclosures. While these targets Management Team) on a regular basis, and the intend to mitigate negative impacts from climate Board and relevant committees on at least an change, our $1 Trillion Sustainable Finance Goal annual basis. and Action for Racial Equity seek to facilitate positive impact via targeted financing and other activities and therefore do not have baseline figures. Citi 2022 ESG Report Page 124

A Note on Materiality and Forward-Looking Statements The disclosures included in this report are being provided to the public in an effort to provide trans- parency into our environmental, social and governance (ESG) initiatives to respond to investor and other stakeholder requests, and to further enhance our collective understanding of ESG issues. Our approaches to the disclosures included in this report differ in significant ways from those included in mandatory regulatory reporting, including under U.S. Securities and Exchange Commission (SEC) rules and regulations. Thus, while certain matters discussed in this report may be significant, any significance should not be read as necessarily rising to the level of materiality used for the purposes of complying with the U.S. federal securities laws and regulations, even if we use the word “material” or “materiality” in this report. Certain statements in this report are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to known and unknown risks, uncertainties, changes in circumstances, and assumptions that are difficult to predict and are often beyond our control. These statements are not guarantees of future results, occurrences, or performance. Actual results and financial outcomes may differ materially from those included in any of these forward-looking statements due to a variety of factors, including, but not limited to the precautionary statements included in this report as well as the following factors: global socio-demographic and economic trends, climate-related conditions and weather events, energy prices and technological innovations, consumer and client behavior, data limitations and uncertainty, legislative and regulatory changes, and other unforeseen events or condi- tions. Other factors that could cause actual results to differ materially from those described in forward- looking statements can be found in this report, in Citi’s filings with the SEC, including, without limita- tion, the “Risk Factors” section of Citi’s 2022 Annual Report on Form 10-K. Precautionary statements included in such filings should be read in conjunction with this document. Any forward-looking state- ments made by or on behalf of Citi speak only as to the date they are made, and Citi does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. This report contains statements based on hypo- thetical or severely adverse scenarios and assumptions, and these statements should not necessarily be viewed as being representative of current or actual risk or forecasts of expected risk. While future events discussed in this report may be significant, any significance should not be read as necessarily rising to the level of materiality of the disclosures required under U.S. federal securities laws. © 2023 Citigroup Inc. Citi, Citi with Arc Design and Citibank are trademarks and servicemarks of Citigroup Inc. (and its affiliates) and are used and registered throughout the world.