Collaborating with MDIs Minority depository institutions (MDIs) have long been the trusted source of banking and access to capital for communities of color. For generations, they have provided essential financial services, especially for Black Americans who have not had equitable access to the mainstream banking system and therefore had fewer opportunities to build generational wealth. Research shows that, compared with other financial institutions, MDIs originate a greater share of mortgages to borrowers of color. * They also originate a greater share of small business loans guaranteed by the Small Business Administration to entrepreneurs of color than other financial institutions. But since 2001, the number of Black-owned and operated banks has declined by more than half. ** As of September 2021, there were only 20 Black banking institutions, and only one of them held more than $1 billion of assets. *** One of the four goals of Action for Racial Equity is expanding banking and access to credit in communities of color, in part through collaboration with MDIs. During Citi focus groups with Black MDIs, leaders overwhelmingly prioritized access to capital and capacity- building investments to grow their revenue and operations, which would enable the MDIs to diversify products and expand services. Our collaboration with Unity National Bank is just one example of how we’re offering expertise and guidance to MDIs. We have supported growth capital opportunities for Unity by providing an equity investment and inviting Unity in on select project-based affordable housing lending opportunities, including a loan for 381 affordable housing units in Texas. We also onboarded Unity on the Bridge built by Cit i SM platform to help expand their customer base, and we have enabled Unity to gain contract-based revenue as a subcontractor on existing Citi federal business lines. In order to help Unity prepare for long-term growth, we’re collaborating on shared media and client conversations and supporting talent acquisition by exposing high-achieving students of color to banking as a career. Further, pro bono technical assistance delivered in collaboration with Deloitte and the National Bankers Association is helping Unity to strengthen access to talent pipeline development initiatives and corporate board seats. In 2021, we doubled down on our collaboration with Unity by piloting the Citi Rotational Program, which embedded a Citi executive at Unity with the mandate of supporting revenue generation through the New Markets Tax Credit Program and expanding their affordable housing work. Lack of wealth generation opportunities and access to affordable housing continue to plague Black and Brown communities, and our mission is to create equitable access to capital to help fill that void. We’re thrilled to have the continued support and partnership of Citi, including their equity investment and embedded senior counsel, to help grow our business. Together, we can find more opportunities to drive economic value and impact in the communities we serve.” DR. KASE LAWAL, CHAIRMAN, UNITY NATIONAL BANK “ * Federal Deposit Insurance Corporation, “2019 Minority Depository Institutions: Structure, Performance, and Social Impact.” ** Federal Deposit Insurance Corporation, “Minority Depository Institutions List, Historical Data Year-by-Year 2001-2020.” *** Federal Deposit Insurance Corporation, “Minority Depository Institutions List, Fourth Quarter 2020.” Contents ESGatCiti SustainableFinance SustainableProgress Equitable&ResilientCommunities Talent&DEI RiskManagement&ResponsibleBusiness Appendices CITI 2021 ESG REPORT 69