Citi’s 2021 raw gap analysis showed that the median pay for women globally is 74% of the median for men, similar to 2020 and up from 73% in 2019 and 71% in 2018; the median pay for U.S. minorities was more than 96% of the median for non-minorities, which is up from just under 94% in 2020, 94% in 2019 and 93% in 2018. Continuing to reduce our raw pay gap requires that we increase representation of women and U.S. minorities in senior roles across the firm. These pay equity reviews represent a “moment in time” snapshot of our employee base, which is constantly chang - ing as people come in and out of the firm, as colleagues are promoted and as market dynamics change. We’re continuing to innovate how we recruit and develop talent and to use data more effectively to help us increase diversity at more senior levels at Citi. Our philosophy is that every member of Citi’s team is responsible for progress in making Citi an even more inclusive and equitable workplace. Citi collaborated with The Female Quotient, a women-owned business dedicated to advancing equality in the workplace, to develop a free digital tool that provides companies with a snapshot of their raw pay gap. We view it as a way to further equity across all types of companies and see it as a concrete measure to increase diversity more broadly. For more informa - tion, v isit The F emale Q uotient’s A dvancing Equality Calculator TM . Representation Goals In 2018, we set aspirational representa - tion goals to increase women leadership globally and Black leadership in the United States at the firm by the end of 2021. We are pleased to share that Citi exceeded these goals. Globally, we increased representation at the Assistant Vice President to Managing Director levels for women to 40.6% (up from 37% in 2018), and in the United States we increased Black representation for those same job levels to 8.1% (up from 6% in 2018). Additionally, when we include colleagues in the United States who self-identify as two or more races, Black representation at the same job levels increased to 9.1%. Our commitment doesn’t stop here, and we recognize there’s still work to do to build a more d iverse, e quitable a nd i nclusive fi rm. We will build and expand on our representa - tion g oals i n t he fu ture a nd w ill c ontinue t o be t ransparent w hile h olding o urselves accountable. D iversity, e quity a nd i nclusion factors, in cluding t he r epresentation o f women a nd r acial/ethnic m inorities, c ontinue to b e i ncluded i n s enior e xecutives’ s core - cards. L earn m ore i n t he ESG at Citi section. Pipeline analyses help us assess the avail - ability and flow of diverse talent at Citi and how we can achieve better representation among women and racial/ethnic minori - ties. Such analyses also play an important role in succession planning at Citi, ensuring that we have diversity of employees who are ready for promotion now, and that we have appropriate development plans for those who would be ready for promotion in several years. Intentionality in talent development is essential if we’re going to elevate more women and racial/ethnic minorities to high-level positions at Citi — and across our industry as a whole. According to McKinsey & Company, there’s a strong business case for gender and racial diversity in corporate leadership, with the most diverse companies outper - forming their peers on profitability. A report issued by McKinsey 1 in 2020 found that companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than companies in the fourth quartile. That’s up from 21% in 2017 and 15% in 2014. Our representation goals, as well as other work we are doing around gender equality in the workplace, directly contribute to SDG 5 in support of gender equality and empowering all women and girls . Specifically, we are enabling progress toward target 5.5 , which aims to ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic and public life . SDG Goal 5: Gender Equality Read how we’re supporting minority- and women-owned businesses in our supply chain . 1. McKinsey & Company, “ Diversity Wins: How Inclusion Matters ” May 2020. Contents ESGatCiti SustainableFinance SustainableProgress Equitable&ResilientCommunities Talent&DEI RiskManagement&ResponsibleBusiness Appendices CITI 2021 ESG REPORT 84